Algoz questions

What makes you say that? @86fef57a4d18e6b40a9a

Guys it is very easy to throw around unfounded accusations, and I wish you took a moment to research what it is that they do. English is not their native language perhaps some things during the interview were lost in translation, none the less you can do some research. They are liquidity providers, or in other words they prevent sudden price movements.

No they do not basically wash trade. Again some basic research would give you a better understanding of what it is they are in fact doing. First, to address your comment of “wash trade”. Wash trade is when you simultaneously sell and buy the same financial instruments to create misleading, artificial activity in the marketplace. First, you will place a sell order, then place a buy order to buy from yourself, or vice versa. They do not buy or sell their own orders, so making these statements is very irresponsible.

Second, let me explain how it works so you will know. What they do is they operate a significant amount of computerized programs also known as bots to prevent sudden drops or increases in price, that in a nut shell is what they do. The details and their algorithmic criteria is not known to me so I am not going to speculate at what point their software takes over, but one thing for sure - they do not wash trade.



Thank you for that response. Well said.


How are they able to prevent large price fluctuations? Would they need to have a large spread of buy and sell orders ready to correct it?
Actually if you Google wash trading compared to market makers, it could be seen as the same thing. depending on the bylaws of the exchange. Actually in crypo wash trading is a generally excepted term for what a market maker does. It’s just a little sensitive to use that term. But can still be argued and explained in the same way. Interesting. More regulation is needed to clearly define the two in the current crypto world. :slight_smile:


This is where the agreement in place between Electroneum LTD and Algoz comes to play. The details of such agreement and the brackets that trigger the Algoz are agreed upon and are not open to discussion. If it was an open source information people would purposely attempt to circumvent the safeguards in place, so I hope this clarifies the lack of posted information.

As for the google article, it is not reflective of the agreement in place. The common “wash trades” used among some of the exchanges only inflate their flat reporting numbers and standing within the exchange rankings as the buying and selling takes place at exactly 1:1 the same price.

We are talking about two different things here, I cannot explain any further as I already have.



Yes I agree, you have helped me to understand it. And you couldn’t have put it better. Crypto needs to get out of its infancy stage, people’s opinions and use of these terms will change. Regulation will help to more clearly define these grey areas and common misunderstandings. :slight_smile:

Cheers M


Indeed. This space will only mature once more regulation is accepted and in place, everyone gets upset when exchanges get hacked, but perhaps if more regulation was on the books this would be much harder to do so. I know it sounds contradictory to the common belief that crypto must remain decentralized, but those who believe that crypto as whole has any chance of survival without “some” regulation are gravely mistaken.

Between the laws on the books KYC, AML, FINCEN, SEC, CFTC, FCA and so many other agencies and government watchdogs, it is inevitable and nearly impossible not to accept some sort of a regulatory framework. I am glad ETN has done this at an early stage of the game, it is quite significant even though it is heavily disliked within this space.

We are all, clearly in the right project let me tell you, and I am truly looking forward to the second half of the year.

By the way thank you for being a valued member of this community, during the times like this, it shows who is who and it is the adversity that reveals the character. Sure when ETN has stretched their wings and begins to fly, many will join the conversation and everyone will be happy, but how many will be able to say “do you remember back in the day…” It is the low tide that shows the true colors of many so I really do appreciate your involvement in this Community.



Yes exactly, regulation doesn’t necessarily come at the expense of decentralisation. It will only help to safeguard people’s digital assets. It’s such a paradigm shift that it needs some control.
Thank you for your kind words it means a lot. :slight_smile: