Okay, get this. Look at XLC Leviar Coin. Their current target exchange/buy back rate is 0.0005 BTC/XLC or 0.005 ETH/XLC for the next 3 days until the ICO ends.
https://ico.leviarcoin.org/statistics
On HitBTC, the current rate for this shit coin is 0.0001BTC, meaning that once the ICO ends and the coins become available, either the coins will exchange at 0.0005BTC or HitBTC has to buy them back if it's a failure. It's in their Ethereum contract.
Is this free 5x profit for the taking or am I crazy?
Exactly. ICO is a Scam designed to Destroy Trader Wealth. They get it listed on the Exchange and sell their Millions of Coins for way more than they are worth...
Simply because people are willing to trust them. I think the Government needs to come in and handle Business.
>>2717595
So should we buy or not?
How is it a scam if they lose money buying back coins?
>>2717621
They have turned the Cryptocurrency Sphere into a Printing Press. They "Print" Worthless Units/Shares... as soon as it gets listed there is a Price Discovery Period...
In a normal IPO you would be required to wait AT LEAST 6 Months before you can sell your Shares. In ICOs they take as much Money as they can get and then use them to Wipe Out the ENTIRE MARKET.
The Government Regulation... I never believed in it until I seen the Cryptocurrency Sphere.
There have been cases where you could literally Profit from the ICO to the Factor of $20000 -> $1 Million... That's only when you wait though.
For the most part, people get into the ICO and immediately sell their Coins as soon as it is on the Exchange for immediate Profit.
>>2717621
Exactly. That's what I want to know myself. AFAIK, it's an easy 5x profit if buy now.
HitBTC has to honor their agreement and the ethereum contract. They can freeze it and try to weasel out of it, but ultimately the money has to come from some where and comes from their pockets or Leviar Corporation.
https://leviarcoin.org/terms
All of the ICO earnings are in an escrow account and will be returned to investors at the 0.0005BTC rate if the ICO fails.
>>2717587
Can you please explain to me how that works?
You buy the coin for 0.005 BTC from Leviarcoin then you sell it on hitbtc for a loss?
I dont understand.