bitCNY live on LATOKEN from 14 October

[litepresence]

LATOKEN is a Top-20 crypto exchange

No it is not. 

Ranked 47 by liquidity here:
https://coinmarketcap.com/rankings/exchanges/liquidity/

Ranked 67 here w/ 6/10 trust score
https://www.coingecko.com/en/exchanges

Ranked 48 here w/ C trust score
https://nomics.com/exchanges

F Trust rating here
https://www.comaps.io

You buy more BTS make the price above 0.22 then it's pegged again.

Can you get more disingenuous?    Its pegged when top debt holders choose to make it pegged at their own whim and nothing else.

If what you say is FACT.... then why not update the asset description, all of the docs on various sites, and bitshares.org to

bitCNY IS A USELESS SHITCOIN PEGGED 0.22:1 TO THE VALUE OF BTS FOR THE FORESEEABLE FUTURE





Is the best way for lay users to find out about the fact that bitCNY is a cartel controlled scam on some random thread buried among junk promotion of a shitcoin exchange?

bitCNY is the biggest shit stain on BitShares ecosystem and it is the PRINCIPLE REASON why Bitshares is grossly devalued as it exemplifies the inherent corruptness of the current DPOS architecture.

[R]

Chinese Yuan pegged stablecoin bitCNY

bitCNY isn't pegged to CNY right now though (see BSIP76)

You buy more BTS make the price above 0.22 then it's pegged again.

bitCNY is ONCE AGAIN no longer pegged to CNY, with a peak of 70%+ below the peg. Multiple exchanges have been misled about the true state of bitCNY, extending the BSIP76 fraud scope significantly.

[Thul3]

You buy more BTS make the price above 0.22 then it's pegged again.

How is it so? It's already 0.028 on CMC and 0.03 on the DEX!

They talk about bitcny

[Sapiens]

You buy more BTS make the price above 0.22 then it's pegged again.

How is it so? It's already 0.028 on CMC and 0.03 on the DEX!

[sschiessl]

Some thoughts and numbers on the side:

The threshold price has the effect that margin calls are effectively disabled, and force settlements are targeting a price that deviates from market price. The peg for me is the market price, and as such defined by the trader. As such I would see the threshold price creating sort of undercollaterization (since the promise of settling for equal value in BTS is broken).

Looking at CoinMarketCap we have a deviation of 1% (https://coinmarketcap.com/currencies/bitcny/, CMC is always weird), doing it by hand (BTS/bitCNY latest DEX price, BTS/BTC binance price, BTC/CNY binance price) I see a deviation of 4.5%. The feed price has a deviation of 7.5%. Interestingly, the traders do not exactly follow what the threshhold price dictates.

[abit]

Chinese Yuan pegged stablecoin bitCNY

bitCNY isn't pegged to CNY right now though (see BSIP76)

You buy more BTS make the price above 0.22 then it's pegged again.

[R]

Chinese Yuan pegged stablecoin bitCNY

bitCNY isn't pegged to CNY right now though (see BSIP76)

[matle85]

All,

The listing of bitCNY goes live on LATOKEN from 14 October 2019.

LATOKEN is a Top-20 crypto exchange focusing on providing liquidity for new tokens:
•   $1 bn+ daily turnover
•   400 k+ registered traders
•   450+ crypto pairs available for trading


You can register to trade bitCNY on LATOKEN at this link: http://bit.ly/2mNzFKF

There is also a 14 day free market-making trial available if anyone wants to make use of that service (I will but it would be better if a bigger holder of bitCNY did as well!)

If someone can provide me with a Chinese translation of appropriate announcement text I will include it on the banner. At the minute the draft text says 'Chinese Yuan pegged stablecoin bitCNY is live on LATOKEN from 14 October 2019!' (if it is preferred for me to call it Renminbi I can but for most western readers I think they are used to seeing Yuan).

LATOKEN look to have good legitimate traffic as they are currently Top 10 for 'adjusted volume' on CMC (https://coinmarketcap.com/rankings/exchanges/) so hopefully this will be positive. Just 3% of their current traffic is Chinese so it would be good to see a boost from this bitCNY listing!

If anyone wants to reach out about the market making just message me on telegram (matle85).

Thanks!

Mathew