Hello fellow Steemers
It's been a while since my last post. It's been very exhausting and stressful days for me and I didn't have the mood to write anything. Now, I will try to break down one by one as to what really happen.
By the way, I'm quite new to Cryptocurrency, I may have explain things wrongly. Please do correct me if something is wrong. Thanks.
1. The postpone of Monkey Capital ICO
As some of you may know, the Monkey Capital ICO has been postponed due to unforeseen circumstances. Yes, POSTPONED not cancelled.
Few days before the ICO there was a heated arguments in MC slack group as to what happen to COE and MNY. The price skyrocketed at the early stage but then it went down tremendously afterwards. There was a debate about the dividend as well because the new rule stating that you need a COE/MNY ratio in order to receive the dividend after the ICO. Too much drama.
The situation gets worsen as Waves Platform crashed. Some people lost their COE tokens in the exchange. My order got cancelled as well without me knowing. It was a mess.
Then Daniel M. Harrison, CEO of the Monkey Capital, posted an article on Coinspeaker explaining what has really happened. You can read the whole article here:
How Waves Platform Washed a Giant Tsunami Over an Upstart ICO
To summarize it all, basically Waves has been manipulating the price in order to push up the price of waves. There is also trading devices - known as bots - on the exchange which would purchase huge quantities of Waves with the same assets. Again, to boost the price of Waves. Though the whole thing is being investigated right now, the numbers are there. There are no coincidence. Numbers never lie.
The issue with this strategy is that it meant that Waves had to manipulate prices across all its currency pairs with respect to COE and MNY, or else someone would see the relatively much-lower Waves currency pair and snatch up the bargain. Thus began an unintended – but apparently acceptable within the Waves team – process of constantly undermining the price of COE and MNY to take advantage of Monkey’s powerful marketing organ and influential buying community.
So the plan now is to move everything to the new platform (Zur Platform) whereby COE and MNY will be traded 1:1 leaving Waves Platform. It is recommended to hold your COE and MNY tokens and avoid trading using the Waves exchange for the mean time. The Developer has been working hard on this transition and we should soon hear good news from them.
2. Another postpone on Po.et Token Sale
It must be either one of the worse or best ICO. You decide. Supposed to start the Sale on August 8 at 8:08 a.m. EST but due to server overload they have to postpone it to 8:08 p.m. EST. 12 hours of delay, thanks to unskilled Zerion team. By the way, 8:08 p.m EST is 2 o'clock in the morning in Germany. People have to go to work the next day..!!
I was expecting smooth sale after the delay, thinking the server issue has been solved. I was wrong. Same thing happened. I couldn't get into the transaction page due to the same problem. Invitation code was invalid.
After an hour of refreshing the page and entering the code, finally I managed to get into the transaction page. Then this thing happened. No option to choose the amout of purchace.
I started to get frustrated and started to dm the devs on slack. They just told me to keep trying as some people managed to buy the tokens. After that I returned to the transaction page, voila, the amount choice was there. Okay, this time it would be successful. Then shit happened again. Invoice Creation Failure.
I've tried to create invoice with different amount but still failed. And after 2.5 hours of trying, I've finally succeded.
The reason why I got frustrated is because before the sale begin in Zerion Platform(after postpone), already $7,149,362 USD are raised of the $10,000,000 cap from other platform like ICOAGE and Token Capital in China. The tokens was selling extremely fast. Reminds me of TenX token sale. Like wind passing by.
Nevertheless, I got the tokens. Then I fell asleep like a baby. Only few hours of sleep cos I have to go to work early morning. Super exhausted. I've never experience such ICO before. I hope I made the right decision investing in these two ICO. Ofcourse I've invested in other ICO too but these two are just abnormal. LOL.
So what do you guys think about these two ICO? Have any of you took part on any of it? Share your comment down below.
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Check out my other interesting post to about Singkawang, City of Thousands Temple