What scares me most is the massive sell wall on bittrex, not trying to talk charts here, but someone bought a massive amount on 8/6 and clearly controls this coin on bittrex. It's a shame that this even happens and I've grown quite tired of it. I own a decent amount of safex, I really hope they deliver. This coin isn't moving anywhere on bittrex however until this person allows us. Sometimes this makes me lose faith in crypto all together.
WOW!
Thanks for letting me know.
SAFEX = SCAM
Whales set large sell walls to keep price under their preferred accumulation point. They want to accumulate a lot of coins over time, and it is better if they can do it cheaper. They put up sell walls to encourage sell offs below the wall price, and to discourage people from buying higher, since they can reasonably expect others to sell under the wall price.
This happens to any coin that has potential and yet is in a low to mid-volume phase of development. It has nothing to do with scams. It is simply an unregulated marketplace, so manipulation is rampant when natural volume allows it to be. People with money use it to make more money. They want the price to remain low while they accumulate coins, so they troll the forums and chat rooms to spread as much FUD and bullshit as they can to get the price down to their buy orders. That is how it works.
New accounts with 1 post should not go in to forums and cry "SCAM!" unless they want to be laughed at, and to get the exact opposite effect of what they wanted in the first place.
When you see a bunch of idiotic FUD, you know people see value in the coin, and want to get in cheap, and are willing to trade their integrity for lower prices.
In other words, they know a price rise is coming, so they >FUD<, and now YOU know a price rise is coming. Weeeeeee!
Yea, I was simply pointing out how discouraged it made me because I feel like this coin has alot of potential. I guess we found out who the whale was then, it must be "asdkja829".
I'm a bit new here and I will have to tone down my posts like that then, I didn't want to spark any real FUD, was generally concerned and I knew people were would help me and they did!