Lambos…Lambos in our heads, my dear boy… 
Blimey… maybe I should throw in another EUR 100 while I can.
A feeling went through my head that they are going out of business or going to drop MAID, just a feeling that something is wrong in general. What could be the reason? OTC trading? I would not keep funds on HitBTC if I had any.
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I’am lucky to be one of the sane people but I’am worried that there are too many out there that are not that lucky.
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How are other exchanges looking
Most of it seems to end up there… 1DUb2YYbQA1jjaNYzVXLZ7ZioEhLXtbUru
Why would HitBTC send all its coins to Bittrex?
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On 2020-11-29
- 1DUb2 (bittrex) had 24,987,466
- 14quv (hitbtc) had 900,996
Right now,
- 1DUb2 (bittrex) has 25,141,124
- 14quv (hitbtc) has 438,238
14quv is 462,758 less
1Dub2 is 153,658 more
So it looks like most are going off the exchange rather than between exchanges.
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Makes me wonder if HitBTC is delisting too? This would be nasty for volume I assume. Wonder what happens to price… anyone have any theories?
Nothing good will come out of a delisting. Made more problematic that we have the potential of goodies at year end of Q1 to share. With that being said I’m not sure how much volume you would really lose. At this point I think the volume is what it is and only easier purchasing options and more of them will make any noticeable consistent volume changes.
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Surely they would warn users of delisting, in which case we would know, same as those who are seemingly withdrawing.
No?
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You would think so. Don’t want to cause FUD. Just curious if anyone has suspicions because of this seemingly odd activity.
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Could it be a hack, surely it would have been noticed by now though, only 238k left now.
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14quvdxXj7h4kcfhhuKX39wRc6X5sodkjM now down to 238,238 coins.
I doubt this is a delisting. I would expect a) an announcement, and b) a sudden change in withdrawals. Seeing displacement of 90% of coins in cold storage over the course of ~6 weeks does not look at all like delisting to me.
This is a good place to look further. changelly partners lists hitbtc via tradesanta (what a world we live in). I couldn’t find any official info about simpleswap and hitbtc having a connection but they probably do in some way.
What conditions would lead to hitbtc running out of coins?
If users of those secondary platforms were buying and withdrawing to their own wallet we could see what is happening, exchanges being flushed out of coins by secondary services that don’t offer any direct insight into the exchange depth.
If bittrex was consistently trading at a higher price then there would be arbitrage between the two exchanges (taking maidsafecoin from hitbtc to bittrex) so it would also look like what is happening. But we’d also expect to see more withdraws to bittrex which doesn’t seem to be the case (see a few posts up).
Maybe hitbtc has lost a lot of trust and people are leaving? Seems like a strange pattern of behavior for this case but it’s possible. I haven’t heard anything besides the usual stuff about hitbtc that would lead to this happening.
I honestly have no idea what this is. Never seen anything like it before.
edit: hitbtc orderbook showing 700K maidsafecoin on the orderbook for sale. Maybe they are simply changing cold storage?
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Was just playing around with the idea maybe making a maid purchase through changelly. Just to understand the current rate I typed in 1 btc which produced approx 106k maid. However if I type in 2 btc the rate drops from 106k to 88k per btc. Do they not have access to exchange enough of you go higher? It doesn’t matter to me because I wasn’t going to be anywhere near that buy anyway but I want to make sure I’m getting as much as I can. Anyone know why the rate would change so drastically?
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Low market depth. Not many maidsafecoins for sale.
If you want to buy 1 btc worth on bittrex the price would go to 1200 and you’d buy a total of 105K maid
If you want to buy 2 btc worth on bittrex the price would go to 1498 and you’d buy a total of 171K maid
You could put an order for 1 or 2 btc worth of coins at the current price but it may take a while to find sellers willing to sell at that price. Most sellers want a higher price than that.
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Got it, unfortunately I have no access to bittrex, hence me looking elsewhere, so I assumed it was volume/float based but wanted to make sure that made sense since I can’t use bittrex. Thank you.
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Ah yes sorry I didn’t say but changelly uses bittrex behind the scenes so that’s why the orderbook on bittrex matters here. They probably aggregate bittrex and hitbtc, buying wherever is cheapest at the time.
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Got it, I didn’t know that. Appreciate the help.
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Those numbers really put perspective on how small the market is right now. Whether running for the hills or blasting off to the moon, it is difficult to get even relatively small amounts in or out promptly without moving the price substantially.
With an outlook which is looking more positive over the next weeks, it will be interesting to see how the price responds. A few people wanting to buy a few BTC worth will force the price way up. Some may sell into it, but from looking at the MAID/BTC chart, it looks like we’ve turned a bullish corner.
Suddenly, a 2x positive BTC price move looks like barely an effort. Food for thought.
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