Even though there are still posts popping up and claims being made left and right about BlockNet and why you should, or should not invest in their ITO, there is some important news to report with verifiable facts. As here has been some concerns about Bittrex allowing BLOCK to be traded during a brief period, the exchange has released a statement regarding this matter.
Bittrex statement regarding BlockNet ITO
“First off, let me thank all our users for their patience on the matter. We are actively working with everyone to ensure the best outcome for all parties. Before we get started, I want to provide a little background. BlockNet was the first ICO we agreed to do where we didn’t have complete control of the coin supply. We’ve learned our lesson, we will not be participating in any offering where we are not in a position to enforce agreed upon terms.
Somewhere along the way, there was a miscommunication and BLOCK coins were released for both trading and staking. By enforcing the escrow terms, we put Bittrex users at a disadvantage. To remedy this, we will put up a buy wall at the ITO price for 48 hours after the ITO ends on November 5th. We will not allow deposits or withdrawals during this 48 hour window. This will allow any users wanting a refund to receive one. Once this window closes, we will pull the buy wall and evaluate the escrow terms. If everything checks out, we will release the funds to the developer and open the wallet and market for trading.”
I applaud the stance Bittrex is taking regarding the BlockNet ITO matter, and all things considered, their approach is the most fair one towards everyone. Definitely two thumbs up from us here at CryptoArticles!
BLOCK/BTC Trading Market Unavailable on Bter
It appears as if the BLOCK/BTC trading pair was unavailable on the Bter exchange yesterday and during this night for some odd reason. As of this writing, this trading market appears to be opened again, and some purchases have been made over the past 24 hours. There is still over 500 Bitcoin worth of BlockNet ITO tokens up for grabs on Bter, so make your way over there if you want to purchase some.
Note from the author : I don’t have a Bter account so I cannot check whether you can actually buy BLOCK at this point, but the last executed trade has today’s timestamp on it.
Poloniex enabled trading of BLOCK
While Bittrex opened up BLOCK trading after some miscommunication, Poloniex has opened up the trading of BLOCK as well. Not in an unethical way, if you were wondering about that, as Poloniex clearly stated trading would be enabled. The BlockNet team takes full responsibility for this occurance, and extends their apologies to all affected parties.