Hello Coolface,
This is what I realized. I realized that Rialto.ai team already 100% know that EtherDelta will be trading XRL before August. I did not know that nor did I know that about EtherDelta. I agree that it will be my fault for not knowing something but this will require me to understand the technicalities behind how EtherDelta work and make no mistake Rialto.ai team mentioned many times in all their posting that XRL will be listed on the exchanges in August. I agree that this can be communicated that “they did not list on EtherDelta” but perhaps if they mentioned there is a difference between them initiating a listing and there is such a thing as not initiating a listing but EtherDelta can still list, I may feel better.
There are ICOs that have locked their tokens for over a month until they want it to be listed on the exchange. Most ICOs have it locked for a week or so. Rialto also locked theirs but only for a few days after the distribution process and to deal with those that transected from exchanges.
What I am saying is, if you are on Rialto.ai team and you already know that you have told your investors that the listing will be in August many times AND you also know that EtherDelta can trade XRL unofficially because investors will start trading there, won’t you either (1) communicate that to your investors if you are committed to protecting the the team’s integrity; or (2) just lock down all XRL tokens until August? I guess there is an option (3) where you can just play with the words that “Rialto.ai did not list on EtherDelta” and “it is not an official listing.”
A good example will be how your mom has cancer and you bring her to a specialist. The specialist know extra information but withheld those information because it was not in THEIR best interest and instead told you that the PROCEDURE was to do ABC. You go and do ABC only to realized you have wasted a month of time and now it is too late and your mom is dead. Later on you realized that even though the PROCEDURE is a standard, you also realized that the specialist already know that time can be saved by augmenting the PROCEDURE, that extra time can be important to you and it should be your decision of how to make the choice rather than them withholding that information and thus preventing you from making AN INFORMED decision. All because it was not in their best interest to protect your interest.
Some people will argue that my complains are the difference between a person who buys to flip quickly vs a holder or (hodler). I will rebuttal by saying that why not hold long term but at least still ensure your XRL tokens are in the positive and above ICO price? Won’t that be better than holding long term when your XRL tokens are in the red? The difference will be the former is a decision you can choose to make while in the latter, if you sell you lose money so you can only choose to hold. Key difference here will be the understanding of liability and risk taking, good investors understands risk and want it to be accounted for.
I do not like how Rialto.ai first withheld information which they know can influence investors decision AND they used a clever play with words to deny any responsibility on their part. Saying it is an “unofficial listing” and that “they cannot lockdown XRL now” are both terrible excuses because they ALREADY know this will happen and they could have simply have extended the lockdown from distribution all the way to August when they do their official listing. Make no mistake this is not something mind-blowing, so when a bunch of PhDs do not protect investors interested from the get-go, I start to worry where their interest are. Yes, you can rebuttal that their interest are only in the development of the project and investors are secondary. If they communicated that in the ICO will you have invested?
Basically all my decision making will be different if I knew XRL will be unofficially traded on EtherDelta before August and if I knew there was no lockdown for July. The reason is simple, because if I knew that, I will also know XRL will trade below ICO price before August and I can just buy it below ICO price rather than ICO price. Make sense right? Why do I know? Because we are in a freaking bear market due to BTC controversy in case idiots who do not know.