I don’t know why exactly people are taking into consideration the current price of BOScoin at Coinmarketcap and HitBTC and even trade over the counter taking that price as a reference. The only place where Boscoin is being “sold” is at HitBTC and there you can only buy a promise that HitBTC will give you your BOScoin in the future when they are available on other exchanges. It’s very funny that they are trading an IOU instead of working on implementing the actual coin and sell the actual coin as Kucoin is. Now even HitBTC hides the fact that it’s an IOU and it simply say ‘withdraws are under technical maintenance’.
If you buy the BOScoin IOU at HitBTC you won’t be able to withdraw it as obviously they sold you a promise but what is more important and the reason why the price is artificially high is that people wanting to sell their BOScoin can’t deposit them at HitBTC and sell them at the current price (today $2.49). Zero sellers, only buyers: crazy price. If the IOU would reflect the actual coin price, BOScoin would have reached a market cap of $3,500,000,000 for a not even released coin, are we crazy?
I like BOScoin a lot and I plant to create a node to support the network but it makes me nuts to see people trying to sell fools their BOScoin at the price reflected at HitBTC, a completely artificial price. Is it that the people behind all the work to list the IOU have a special interest on manipulating the price to supposedly bootstrap and boost the price when—finally—BOScoin can be traded at a market? I’m not sure why this is being done and I’m not sure if the BOScoin team is responsible for this but this is close to being a scam as this is a clear intention to manipulate the price. BOScoin is not being traded thus the price shown can’t be the BOScoin price, at most Coinmarketcap should say ‘BOScoin IOU’ and not be part of the history price of the future price of the real BOScoin.
I think ultimately this will affect negatively BOScoin as there will be a mega dip in the market cap charts if the BOScoin IUO and BOScoin prices are considered the same asset (if fact the IOU is a liability and not an asset).