HOW FAIR IS YOBIT EXCHANGE

Introduction

Do you really know how US and EU crypto currency exchanges work? Everything looks fair or fair enough. If you don’t have some experience in trading or you are just a newbie you’ll not notice anything unusual. But in fact every crypto exchange has well built trading bot system. When bad news are on air selling bots are active. If something good happens buiyng inertia is fueled by the opposite bots. Sometimes bots work together to keep the rates.

By the way Mr.Gox used two algorithms, named Willy and Marcus. They bought around 650 000 bitcoins in the dying days of bitcoin exchange. So, where is the fair trade?

Yobit.net

The scam of scams is officially registered in Moscow, Russia. It is impossible to find more details about the business niche they are involved in, but one is sure just few months ago Russia policy was harsh to crypto currencies. The other fact that even BTC-E exchange is registered in Bulgaria tell us enough.

The main yobit server is located in San Francisco where the HashOcean phantom office was too. Yobit.net has a reserve domain registred somewhere in Panama (The prosperous land for ponzi schemes).

Trading in Yobit

 

After some months of close observation and trading you can’t skip the full game there. 99% of all coins in Yobit are pure fast created scams. The volume and rates are driven only by bots so it is worse than an online casino. Most of the scammers use patterns to create a new garbage coin. They work in perfect sync with Yobit. Among them are the creators of PutinCoin, TrumpCoin and JobsCoin (PutinCoin and JobsCoin are possible established by same person).

As a dessert I am quite sure Yobit bot strategy is based on full detailed statistic about holders of any coin. So the exchange’s owners decide how much you have to win. In most cases the scenario is amazingly good. When you sell “early” Yobit pumps the coin to unbelievable peaks. This is the best miss oportunity illusion. You start to sorry about your decision to sell. You thought: “God, damn it what a miss. I could have a tons of bitcoin”.

If you decide to hold the price is falling to spreading fear. “Oh, I am lost!”.

Yobit Games- Dice and Pony

Fair games! Well this two are fair as much as virgin birth nowadays. Let’s talk a little about dice game. Stay a little only to watch and you’ll see how one user can roll dices like Speedy Gonzales. Use one of their Free Coin “gifts” to try the game but carefully. You can’t roll dices so fast. “Bots are in the air”. Sometimes one bot can play two different dice games at once. A miracle!

Conclusions

Stay away from Yobit. Don’t give your money to a prooven hustler. Be smart and have a nice family!