I dunno maybe it seems plausible to me cause I would do it. I see it as a perfectly legal and profitable move so why not make it? Again I am not accusing anyone cause I have no proof. Just something that came to my mind when I was like what if today is the day they drop a big bombshell in the dev update and that guy somehow was right there to attack at just the right moment.
Ok here’s another theory: Its just a trader playing the odds. He knows one Thursday they gonna have to drop a Flemming release date. So starting now he will buy big every wed.
I don’t think its mean. If it was stocks they would have to spend money on a blind trust and junk but in crypto the rules of the game are you don’t have to bother with that and can buy your own coin when you know something big is coming. I think people agree you can do this by playing that game.
Insider trading on non public information is very illegal. Just because no one is prosecuted today dosen’t mean that they won’t be in the future. The law enforcement is some times lagging but they will catch up eventually.
it is on the stock market but, and correct me if I am wrong, there is no precedent case of some dev buying their own coin then dropping a major release date on the public. Like who do I even call hey I have a crypto and I need you to be a blind trust … they be like uh no thanks we only deal with stocks.
you can’t prosecute someone for something that was not a crime at the time. Maybe one day they will be like all crypto attached to a project has to be in some kind of blind trust if you are working on that project. Until that is even an option there is some amount of “insider trading” you can’t avoid. Like no matter how transparent they are with updates, and I commend them on doing a great job of this, they will always know best when things are about to get exciting. What are you gonna do sell the bottom just to be a nice guy? No you are gonna buy that knowing this is a great time to invest. Really you can’t be against them doing something that is not only legal but the only way to invest in their own project they really believe in.
Bear market end for crypto is becoming more likely.
Maidsafe released updated roadmap that shows Fleming is getting close as well as talks of a faster route to launch with MVP.
It would only take one trader with a decent amount of cash to move the price as much as it has. Since the move a few more have probably made a move too.
The price having a decent upswing when Fleming is launched is very likely. There is money to be made, so some people will be on the ball and doing it.
Talks of inside trading is irresponsible and based on nothing. Please stop it and just support the team.
I’am pretty sure that insider trading is an offence no matter what the market is, stocks, crypto or whatever. If the method and outcome is similar then the law from stocks can be applied to crypto. I don’t think crypto needs it’s own laws because insider trading is not market specific and can be applied where ever the situation shows the same characteristics. Just as pyramid schemes, wash trading and so on, apply to crypto as any other market.
I think doing that you would have a worse outcome then some kind of blind trust. They would at least be able to look at the public info and be like yep a bombshell like a Flemming release date is coming soon and make smart trades. Total hands tied is indeed taking one for the team but I think that level of chivalry is a great thing but not required of all.
I imagine that for example you make an investment plan, then present that plan to the company board. A plan could be something like, to cover our expenses we need to sell x amount at a specific date every month in the comming year, if price goes up/down the amount sold will be adjusted. Another plan could be we want to accumulate x amount every month for the comming year. But Nick Lambert or somone else maybe can give an insight to procedures or what is possible to do. It is out of my knowlege zone.
yes that’s true if you had a predefined plan and stuck to it then there would be no question of ethics. Still I think the blind trust is gonna outperform a set schedule. Anyways maybe the company should be careful to keep its hands clean… but how can you police every employee and tell them not to do something totally legal if they have extra cash at the moment and know the project is getting close to milestones? I mean just as individual crypto traders they have all rights you and I do to buy/sell whenever they want and if they happen to have a link on some extra insight on fundamentals that just is what it is in this game.
I found some cases about crypto, even if it is not certain, there seems to be significant chanse to get into trouble if there are evidence of insider trading.
You are right that they can’t cover everything but if large sums of capital is involved then they might notice.
its really a fine line… so should I not try to get into the devs discord group and chat them up for some secret info? If I don’t my competitors will. And really like no one can ever talk to them without releasing the conversation to the public? I think you are right though that the larger the amount and more important the info was to price the higher risk of people being mad anyways.
Anyways these are interesting examples that might prove insider trading-like activities are in fact not just a legal chess move. The second one is just a class action though. Its not the government putting its foot down. Might be just lol’d at by the judge.
well that update was no bombshell so I am pretty sure that 10 BTC guy did not have inside info.
Still the question remains what was his game? I don’t think a 10 BTC market buy is just noise. That’s some kinda move he is making. I am thinking now its our friend that bought so much at 2222 like ok now that’s far enough in the past lets float the price up and trickle some of that off.
Come on @andyypants, you started this by just making shit up, impugning the integrity of the developers, rationalizing it by calling it a personal theory, and then refusing to let it go. Please, please just stop. You do not need to have the last word in every thread, on every concievable topic of interest. Sometimes it is wiser to listen than to continually talk over other people, especially when many in this forum are much wiser and knowledgeable than you.
