I personally do not believe the price of BTS is what it is due to BTC38 price manipulation (as in selling more BTS than they have). That being said what alt is saying makes a lot of sense and everybody should do it.
Take your not-for-trading BTS out of BTC38 (and all other exchanges for that matter)!
- If BTC38 has 10%+ of all BTS - It is indeed too high. Nobody should keep her BTS on the exchange unless for trading or to sell them to pay bills/exit his position. And if you decide to trade on BTC38, it should take a minute for the BTS to be moved there.(Believe me I know it usually takes a deposit and support ticket for the funds to be credited, but this should be fixed by the exchange as well)
For that reason alone - move your BTS out of BTC38.
- If BTC38 does not have 10% of all BTS, but it claims it does:
- move your BTS out of BTC38. You do not want to be the last one holding BTS IOU's there, when everybody else has withdrawn their BTS from BTC38 and the exchange has nothing but empty promise to give you, do you?
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buy BTS with any funds (BTC, CNY etc.) that you have on the exchange, if such funds are there to buy BTS in short/medium term. And withdraw the new BTS from the exchange. In other words, if alt suspicion is true, the price of BTS should and (will be) much higher as a result of removing the downward manipulation, so buy now (cheap) and move the funds to more secure location (your wallet).
In short - move your BTS out of centralized exchanges. This will be very bullish (increasing the BTS price) in the short term anyway. What is more interesting - if alt's worries are true this will be good for the BTS price, in the long term as well.
If it's true, you should buy BTS but not sell.
because exchange need to buy back BTS to pay debt.
This.
If this is true, we can shortsqueeze the hell out of btc38 by buying and withdrawing BTS.
They will be forced to buy tons of shares at market in order to balance their books, and it will rocket up the price.