/biz/ - Business & Finance

[Anonymous No.10508831]

/biz help me understand. Salt lending promised that they will sell their token salt for 27.5 or more. Now I'm hearing that they will lower the price to 1-2$ range. Is that even legal? Can we expect other cryptos to change the rules as they see fit rendering our tokens more or less useless?

[Anonymous No.10508938]

it's free money. what's the problem?

[Anonymous No.10509339]

Bump

[Anonymous No.10509357]

>>10508831
How isn't it legal? As far as legality is concerned they simply hold a large number of tokens and run a platform which accepts those tokens.

The price at which they buy and sell them is their choice.

[Anonymous No.10509369]

>>10508831
>Is that even legal?

hahahahahahahahahaha dumb boomer, this is crypto, there ain't no laws here.

[Anonymous No.10509500]

>>10509357
Well they laid out the system to sell them and then changed it. If they told at the begining that tokens would be selling for 1-2 usd. No one would be buying for let's say 5. So it was deciving marketing

[Anonymous No.10509538]

>>10509500
No. There was a time where they did that but again it doesn't matter. They stated pretty clearly they were free to deny SALT being used to pay loans.

What I'm saying is it is all legal. However there is a reason that it tanked and it is because of the statement above plus the difficulty of getting loans. More and more evidence is coming out though that it was just a big scam to make pre-sale investors rich. If you really want something to seethe about you can about VCs getting in for 25 cents a token and dumping on everyone from $17 down.

[Anonymous No.10509618]

>>10509538
I am not talking about them accepting paymensts in salt, but them selling salt under 27.5$

[Anonymous No.10509635]

>>10509618
The value at which they sell Salt is directly related to what they value Salt as on the platform and as a result how much it pays for when used on a loan.

Nobody was buying it from them on the platform so they lowered it to get money. They are probably hemorrhaging cash. It was never going to hit $27 anyway. Loans were so hard to get that only a few have been given out at this point so the buy pressure was never there. Which is why they have the ability to refuse Salt for loan payment and have just lowered the price of Salt on the platform.

It all ties together but essentialy the platform is dead.

[Anonymous No.10509642]

>>10509500
you got scammed retard, wtf were you expecting

[Anonymous No.10509647]

>Stop-loss: none

[Anonymous No.10509814]

It looks that they fucked hodlers up.
Teeka didn't do his research. But that is behind us. What are chances that other would do same? I mean as it look they could sell salt at 0.1$. Then again others could follow. For example double the cap or start using another coin to drive their platform. Let'say neo doesn't generate 0.14 or 0.09 gas but 0.0001gas every year. Or siacoin starts to accept only payments in usd. Or zencash removes privacy feature and so on.

[Anonymous No.10509968]

i think, what OP wants to ask is; do crypto teams or companies have any legal repercussions in case they change their business terms of their token on the fly, without any prior notice? I’m interested in that as well, got JUSTed pretty hard on SALT myself...

[Anonymous No.10510047]

>>10509968
Salty bagholders. No, no one is held accountable in crypto except maybe exchanges if they piss off the wrong whale. You knew what you were getting into, didnt you?

[Anonymous No.10510066]

>>10509968
This. Thank you anon

[Anonymous No.10510332]

>>10510047
>You knew what you were getting into, didnt you?

yeah, and im okay with the investment falling to 0$, i didnt invest more than i can afford to lose. but it paints a bleak image to the rest of the tokens out there with companies tacking their own coin on their service. might as well just hold btc or eth rather

[Anonymous No.10510345]

>>10510332
Congratulations. You finally realized the point of alts is to accumulate more BTC.