- Recently I've posted that I'm working on native gateway on #BitShares for SMOKE UIA (issued by Smoke.io). Since markets are horrible, and only active one on entire BitShares blockchain with some "decent" liquidity is RUDEX.SMOKE:BTS, I had to checkout what's going on with the price and why SMOKE is worth only 1/4 or 1/5 of a BTS.
SMOKE price. Should, shouldn't, etc...
- Once blockchain was started there was publicly known that investors got in around $0.025 or $0.05 per 1 SMOKE token. Price goal during the launch was $0.10 and that goal is currently impossible to achieve with a current market makers and certain stakeholders around the network.
Anything under the price mentioned above is direct insult to investors, founders and all participants/employees of Smoke.io organization.
Advice to traders, witnesses and stakeholders of Smoke.io
Earlier today I've decided to move the markets with just as 1000 BTS. So, I went inside, cleaned up all from 0.02 BTS / 1 SMOKE till 0.032 BTS / 1 SMOKE.
I've noticed that 2 users of the #DEX / #Smoke were using Bots for market making and KUDOS to them for it. Accounts were chasing spread, not going bearish against the markets by throwing the price down.
Unfortunately, 45 minutes later I came back and price was down again as 0.02x BTS / 1 SMOKE... I've done some research and found out that our witness @skylinebuds is running account skyline88 on the DEX who is doing so. Even if you're doing it for profits, don't hold the price so low, please. If not clear on impact you're making, read below:
I'm not here to fud, I'm here to ask witnesses, traders and stakeholders to:
- create markets for other participants and not for themselves only, or Smoke.io and it's price will never grow.
- keep in mind to tune up/tweak your trading bots and do the spread correctly.
- keep in mind that price for 1 BTS is currently 0.05 USD (5 cents). Selling SMOKE for anything under 0.5 BTS / 1 SMOKE is just suicidal nuke bomber mission.
- keep in mind to stake your Smoke Power and follow up on all above so we can all grow together.
In the end, people who are selling at the moment low, if they just stop and think for a second, they can EARN more by following simple math from above.