So why are the cryptobontix tokens being swapped on July 20th for new tokens?  I'm assuming they are the same names and symbols.  What's going on?

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DIGNITY, NAMASTE, ORECTIC AND HONOR NEWS
Created 17.07.2018 18:08
Dear clients, Livecoin will carry out swap of old DIG, ORE, NAM, HNR tokens to the new ones on 20 July. If you want to participate in swap, deposit tokens till 19 July. If you don't want to participate, withdraw DIG, ORE, NAM, HNR till 19 July. After this date, old tokens will no longer be existed in Livecoin.

Yeah, Namaste may have traded at a price of $657 yesterday, but less than two total coins traded for cash and around 23.6 coins traded for BTC..  So very few people are offering it for sale and the ones who are buying it (this goes for all three coins) are only picking up tiny slivers at outrageous prices.  It's a worthwhile game to get into for a quick profit...  buy a sliver, sell it for more...  I made gains for a couple days doing that... but now they are so high in price that I'm thinking the peak is near..  obviously once they release the coins en masse instead of whatever is going on now (which seems to me like a few people at cryptobontix or maybe just Gembul himself throwing out little pieces for sale like baited hooks to see who will bite and then those pieces getting traded around like orchids in the Renaissance), the price will level out...  it has too..  but this is comical.  The most effective way to invigorate demand of anything is to drastically limit it's supply.  With only a few coins of each token being traded daily, that is surely what we are seeing.

Since Cryptobontix's plan eventually is to buy back their own coins to increase their value via decreasing their available supply, this little game of theirs is quite effective, in my eyes, at displaying exactly how that phenomenon will work.  I like it

$200 token?  Shit..  at one point in the past 24 hrs, Honor was selling for $1,400..  craziness!

Did anyone else notice that LiveCoin removed the ability to list balances by USD or BTC equivalent and now only allows you to list balances by the amount of units of whatever the coin is or by name, only?  I find this incredibly annoying and counterproductive.

supply and demand.


I did buy some pieces of the other tokens at their ridiculous prices and then sold them at higher prices.  i wouldn't consider buying much until the prices level out to something more reasonable.  but in the short term, selling some of my DIG for BTC, trading that for ORE, NAM, and HNR, then selling those pieces back for BTC, ETH, and USD a day or two later, then buying back DIG while it is so cheap..  I netted about 2500 DIG profit with no additional investment..  lol

DIG is doing a little better as of now than it has in the last 48 hrs

All I can fathom is that the supply for DIG is huge..  all of us who got in on the swap have lots of it..  And for the other coins, there are not many units available...  the ones who have them are only offering them very high and at small fractions of a coin so people are willing to pay the high prices just to get a piece.  Supply and demand.  Honor is skyrocketed today.  It's crazy. 

 

So it looks like as of today, the other Cryptobontix tokens are starting to trade.

Can someone explain to me why people are buying them at all kinds of weird prices and why they are selling for so much more than the Dignity?  Is it because lots of us have lots of DIGs due to the swap whereas people are only starting to acquire these other ones?

Who had the first NAM, HNR, and ORE coins for sale?  How did they get them in the first place?  Lot's of people had put out buying bids for these coins as of a few weeks ago but no sales went through until today.  Does somebody at Cryptobontix start out holding the coins and then just sell them to the people for whatever price those people have put out their buying offers at?  Forgive my naivete, but how does this work?  It looks like no ECHOs have sold yet, just the other ones.  I'll include some screenshots:

https://image.ibb.co/fvhMPx/NAMASTE.jpg

Good point.  I was wondering about that, myself

That is true.  maybe all the DIG coins have not been released, so to speak, at once, because some need to be help back to swap the remaining UNY coins at C-CEX (And... let's not forget, any held in private wallets not managed by livecoin).  One thing that did puzzle me initially was how they could swap all UNYs for DIGs if there were 10 billion UNYs and 3 billion DIGs.  Unless they knew for a fact 7 billion were not in circulation or they had bought back a significant portion of them before the swap.

Gembul?

Mining facilities are to mine bitcoin and other major altcoins.  DIG and other cryptobontix tokens are backed by precious metals.  The mining of other altcoins is used as a strategic profitable investment effort to increase their ability to buy and mine more precious metals to back the cryptobontix tokens as well as to buy back their own tokens from the open market in order to decrease their supply and increase their value.  I think ECHO (Reciprocation) will also be backed by some of the other alt coins they mine though I'm not totally clear on that.

The Cryptobontix alt tokens are not mineable because they are simply releasing a fixed amount all at once.

If there are mistakes in my understanding of this or what I've said, somebody please offer corrections.  I have read both whitepapers but I'm not sure I've got it all 100% correct.

i would've traded for bitcoin, transferred the bitcoin to livecoin, then bought them on livecoin.  If anyone is actually to blame though, it is C-CEX.

yeah thats what you would've had to do realistically.. because, before the swap, even if withdrawal options were available, the amount of UNY that it cost in transfer fees to send any amount of UNY from one wallet to another was ridiculous..  over 1000...  that's part of why the takeover and restructure had to happen.  It was not economical to actually send UNY anywhere...  but yeah, exactly what I would've done is to trade all assets to BTC or ETH and get them off C-CEX asap..  if DIG was the investment you had your eye on, then push it all to LiveCoin and buy up as much UNY as you could before the swap.  That is exactly what I did.

I'm sorry if I sounded a bit harsh in my last post.  I just get irritated about Cryptobontix being accused of fraud when we all got the message that if you wanted to play in this realm you needed to do it on LiveCoin.  Cryptobontix should not be catching undeserved accusations just because C-CEX is a shitty exchange.

You had plenty of time and warning to move your UNY to LiveCoin before the swap.

Now, with those of you who didn't listen and lagged up the entire swap process for the rest of us, patience will have to be exercised.  Some of the trading lull before this coin really started seeing action is due to you.  Cryptobontix working on the problem of changing your diaper.  C-CEX is an uncooperative, jacked-up, unresponsive, fraudulent exchange with a poor reputation.  Your instructions regarding screenshots and whatnot have been provided.  Did you follow them?  Have you done what they asked?  Have you done anything other than complain?

Accusing Cryptobontix of fraud because you didn't follow the suggested announcement of moving your coins over to LiveCoin before the swap and probably have also not followed the follow-up screenshot instructions suggested for those who lagged is pretty whiny, pitiful, and irresponsible.  They laid out the process in black and white.  They don't have access to your C-CEX account.  They could not have been able to just handle it for you.  That was your job.

Save the space for real discussion.  Follow the instructions.  Stop waiting for more proactive people to hold your hand.  And watch it with the fraudulent accusations..  Throwing around the F word because you neglect to be responsible for your own assets is pretty pathetic.

Holman Fenwick Willan

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