I've been maintaining the idea that Justin Sun still has a lot of Hive to sell. Today those suspicions are backed by more evidence. Hive wallets are disabled and Binance is trading at a premium low compared to Bittrex. More people are dumping on Binance and they don't care they are losing money (Justin Sun).
There's also another account I know of who might to doing it, but others say this account is simply rebranding.
- Bittrex is trading at 1431 sats
- Binance is trading at 1294 sats.
I believe the gap was even bigger an hour ago.
This heavily implies that Justin Sun is dumping the market during a desperate time to make us look bad. What did you think that price war was about that spiked Steem before we forked? He wasn't dumping, he was buying more and doubling down on his position, just like he always does. Think he ONLY had the 5M liquid Steem from the original purchase? No, we airdropped him probably more than 7M Hive. Maybe even ten. That's quite a bit of Hive.
Justin Sun is the kind of guy who hires someone to manage his crypto assets with trading and bots and things like that... you know, professionals. So what happens when Sun goes to these professions that work for him and manage his finances/crypto and says,
Make sure to put the hurt on Hive in any way you can.
He's not the kinda guy who quits...
If you haven't noticed, this kid does not stop. He does not give up. He doesn't dump projects that give him a hard time, he doubles down. He makes them look bad. Did no one notice that this kid is like a prodigy vulture capitalist? Like, cmon guys. We won't be done with him for a while as he hides in the shadows. Crypto mafia is here! And they are pretty friendly considering! You should be so lucky!
Either that or Bittrex is a low volume exchange and Bittrex whales like @ENCRYPT3DBR0K3R are pushing the price up.
You decide.
This message was brought to you by Hive Keychain using Bittrex prices and Peakd using the witness feed to determine my account balance (difference of $1000+).
When you look at the volume and price together, it sure looks like massive dumping. Dumping by the masses? Dumping by traders 'cuz charts'? Sun dumps like a truck? Hard to say, but somewhere is a bunch of HIVE in hands that don't want it. Seems unlikely the masses would suddenly feel this way and more likely be an individual or small group
Hopefully they run out of bag soon 😃
The rest of the altcoin market has been getting rekt the last couple weeks as well, so it isn't HIVE specific, though HIVE is getting hit harder than many.
Payout -> Sell for HBD -> Buy Hive when Low
I don't get what he would get out of subduing the price, if anything you'd want to skim as much profits instead of tanking the price and then using that for whatever, its not like any dev work is going on on steem.
Suppressing the price of HIVE just means we get more for less, and I have no problems with that.
Posted Using LeoFinance Beta
And I don't understand why a big bank would buy out a small innovative company and then take everything good about that company and water it down, making it corporate and boring and no longer innovative. But these things happen.
This is a game of money, and JSun has more money than we do, and we should be worried about that. Still, there's a very good chance he's moved on... I suppose. Considering his actions though I doubt it. I'm sure the guy can hold a grudge longer than most.
you cant withdraw or deposit hive on binance
That creates the quarantine that allows the arbitrage percent to diverge so far.
Still, we get to see the difference between supply/demand between exchanges during this time... usually they do not diverge.
bittrex wallet is also 'in maintenance' since weeks
I would not be surprised. If i got couple mil tokens for free and i could use them to wreck my competition that i hate id do it too.
Yep! Either that, or there are a lot of Jsuns on Hive
Quite possibly.
I mean, let's not kid ourselves, look where the price of Steem was before JS bought in - around 10 cents, we're back there again, most of the price moves in the last six months are probably because of whales, JS included.
There's no evidence at all that ordinary people give a toss about buying Hive.
Bingo. How do we change that?
I think stopping all this nonsense on Twitter would be a starting point, it's making us look like a bunch of morons!
I also suspect average users see posts like ours getting the rewards they do and think 'that's not fair' which it isn't and leave.
Humans hate injustice. That's what they see on Hive, inequality and injustice.
The tribes are pumping because it's the only way average users can be bigger fish, albeit in smaller ponds.
That won't last.
in short I don't know how to change it! It's probably doomed to failure eventually I'm just banking on wider systems collapse and desperation pushing people towards investing in crypto, then Hive will pump along with many other coins.
I also quite like it here, but I know I'm in a bubble!
Yea I think he dumped long ago. The volume the day Binance opened (and the price subsequently cratered) was plenty sufficient to account for tens of millions of HIVE dumped. He made way more than anyone holding sure has...