Today, Yobit announced that there will be a denomination for coin LIZA. That means the number of current LIZA in circulation becomes less. This aims for better trading as what Yobit says:
photo from pixabay
It's not yet been 24 hours since the denomination and many traders had their own conclusions already. Some are good, some are bad and some are neutral. What do you expect? Humans are not all equally intelligent I guess.
LET'S VISIT THE CHATBOX FOR A WHILE:
Different people, different minds, therefore different opinions.
WHAT IS THIS DENOMINATION OF LIZA MEANS IN SIMPLE WORDS?
This means that the total of LIZA coin will be divided including the one that's in their investment box already and in wallet. To keep it fair for everyone, Yobit suspended and closed the trades temporarily earlier today.
Sadly, people are easily carried away by FUDS. They sell their coins cheap, cry later and blame the system branding it scam or something. It's more like the defense mechanism of a kid. I don't think kids should be trading crypto even fiat because all they do is cry when they loose because of their own decision.
THE END RESULT:
To be brutally honest, I was disappointed not with Yobit but with those stupid traders who's selling their coins cheap. Those that are easily carried away by FUD while smart whales are laughing at them selling their coins at a very cheap price afraid of loosing.
From 60 satoshi to 23-24!!!
I guess people got too excited to see that the price went up from 6-7 satoshi yesterday up to 60 satoshi earlier today after the denomination of LIZA. People got too excited for profit and didn't check if there's an announcement. I can perfectly understand where they're coming from though it's not an excuse. Yobit is not the one selling their coins but them alone.
The minimum investment for LIZA was divided by 10 as well. Yobit did what they said to their traders. From minimum of 15,000,000 pieces LIZA, they updated it to 1,500,000 pieces for 10% daily compounding.
They also open other 2 investment boxes with smaller minimum investments to let the small traders participate and compound their LIZA coins. One is with minimum 100,000 pieces LIZA for 5% daily compounding and the other is 25,000 LIZA for 1% daily compounding. I think it's better to take the 5% if you can't keep up with the 10% investment box. 1% daily compounding is still compounding but it's very little compared to 5% or 10% daily compounding.
FINAL THOUGHTS:
With the current condition of people's mind now trading for LIZA, I can expect a few more dumps until the panic is over or until they realized they're selling their coins very cheap. It could also be until the traders hoping to get millions out of it quit making the future trades more favorable to whales.
It's quite hard to tell for now if the price will go up again. I would still HODL though since my price and number of coins are still according to plan. I don't know for others. Maybe their plan is to loose in the first place by panic selling. If you want to follow the flow, then you can put buy orders at the price below 20 satoshi.
Investment and crypto trading is a battleground and not playground for kids to play around. It's always better to put yourself together in times of dips like this