Regarding Upbit FUD and EOS investment (Up Vote and Discuss)
Updated
This is my view on the situation:
(First I have to disclose that I am currently long, and intend to HOLD through or buy more)
In my opinion, whether Upbit is fraudulent or not is irrelevant to investors from other countries. I don't know if anyone remembers MTGOX. The exact thing happened. Guess what, BTC's price only temporarily dropped by 23%! EOS dropped more than ETH and BTC, because Upbit only allows liquidation of certain Alt coins. Market makers are in deep trouble trying to arbitrage between exchanges as the counter-party risk is very significant at this point. Once all the Koreans finish selling, the market recover to previous levels. It's an excellent opportunity to purchase more if you haven't. Remember the fundamentals of EOS has not changed! There is no delay in the project. There is nothing wrong with EOS ERC20 token. If you sell or short at this price you will get caught. I expect the market to recover before launch.
This is a classic example of a proof of weak hands.
P.S. If Upbit is actually fraudulent and holds ERC20 tokens and get confiscated by the police, there is a chance that the tokens aren't properly registered yet. If they couldn't do it before June 1, the coins on the exchange could potentially become useless and cause less supplies in the market (implies a big price increase for the rest of us.)
Post below if you agree or disagree. Press "like" to pin this to the very top.
(First I have to disclose that I am currently long, and intend to HOLD through or buy more)
In my opinion, whether Upbit is fraudulent or not is irrelevant to investors from other countries. I don't know if anyone remembers MTGOX. The exact thing happened. Guess what, BTC's price only temporarily dropped by 23%! EOS dropped more than ETH and BTC, because Upbit only allows liquidation of certain Alt coins. Market makers are in deep trouble trying to arbitrage between exchanges as the counter-party risk is very significant at this point. Once all the Koreans finish selling, the market recover to previous levels. It's an excellent opportunity to purchase more if you haven't. Remember the fundamentals of EOS has not changed! There is no delay in the project. There is nothing wrong with EOS ERC20 token. If you sell or short at this price you will get caught. I expect the market to recover before launch.
This is a classic example of a proof of weak hands.
P.S. If Upbit is actually fraudulent and holds ERC20 tokens and get confiscated by the police, there is a chance that the tokens aren't properly registered yet. If they couldn't do it before June 1, the coins on the exchange could potentially become useless and cause less supplies in the market (implies a big price increase for the rest of us.)
Post below if you agree or disagree. Press "like" to pin this to the very top.
Note
Rumor has it. According to CNBC Africa New reporter's connection. Ran NeuNer Tweeted the following:Korea, Upbit: The irregularity being investigated is in regards to liquidity issue. The issue involves sharing/ pooling liquidity with other exchanges. It seems to be that the regulators did not understand the share liquidity. My source (an employee) claims there is no issue.
You can check it out in the link below:
twitter.com/cryptomanran
Since it is a rumor, I have no idea how reliable it is.
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