Don't buy the BAT token when it reaches exchanges if the current situation is correct
According to this chart, one holder has over 20% of all the BAT tokens put up for sale in the crowdsale. This means a free market price cannot be determined by any exchange and speculation on exchanges will be irrational as this one holder can simply control the price completely.
Greed may have just killed the BAT. They raised the money, but no one in their right mind will buy a token if the distribution is that skewed. Maybe hard caps are not a good idea if this is the outcome.
References
https://etherscan.io/token/tokenholderchart/BAT
https://etherscan.io/token/BAT?a=0x88e2efac3d2ef957fcd82ec201a506871ad06204
Oh.
But this is problem of every ICO, isnt it?
Since all ICOs are having this problem....I think the best way to handle it if there is a hard cap, is to make a limit on how many can be bought by one address. There are obviously ways around this for people using bots, but I think at least it would add to the preparation.
Bots will just buy from split addresses. The only answer is to remove the cap. The cap was a stupid idea to begin with!
Bitshares if I recall raised funds without a cap. In fact, prior to TheDAO there were no caps and these problems did not exist. All the cap did was create these sorts of problems.
" No one... will buy a token if the distribution is that skewed"
Um, people sure like to buy every other token like that
'Dash'
Look at ZEC
The developer gets 20% of all coins mined!
Honestly, that 20% buyer is a most likely a true investor with strong solid hands.
I doubt he will even move the coins within a year...
This is actually all the more reasons to buy imo. But thats just my opinion on expecting quick profits
Yeah because what? Because the investor could be an AI and that makes it's artificial hands strong? Yeah ok. We don't know who controls the funds and it's so high a percentage that they control the fate of the project.
sales and auctions are going crazy these days...
i wonder what this means to eth if so much of it gets locked...
True dat, hadn't even realized that so much ETH is being locked in ICOs now.... \õ/
By my math, just 20 accounts snapped up 80% of BATS in the ICO...
solid research @dana-edwards !! Thanks for looking out for all of us :))
its listeded on https://liqui.io/
Thanks about that, be always to share like this!!!
BAT is low now, i think its a good time to invest for the long term
for reals!
I was watching BAT trades from the beginning and bought some for 2x ICO price. I really wanted to support this project and I think this price was not bad at all.