Our founder and CEO Mario Urlić; A comment on the beginning of the listing of CUC, and the current situation on the market
Cuprum Coin trading desk and CEO Mario Urlić
Dear users and fans of Cuprum Coin,
I want to personally write you a few words after the secondary listing of our CUC on the first exchange, Bitforex, on August 16, and after the first few days of trading.
I’m sure many of you are disappointed with the current price and especially today after Bitforex (after their mistake) processed our approved transactions from yesterday and deposited CUCs to your wallets. But let us look at the first day and the current drop from the starting price from the opening of 25 USDT to 15 USDT. The fall was caused by sellers from the IEO offer, who obviously wanted to make money overnight, given that the IEO ended on August 15. Unfortunately for them, volume was weak at that time at those levels, so very few CUCs were sold from 25 USDT to 15 USDT. Seeing that sudden drop, the other buyers from the IEO offer also started selling at the same price they bought it, at 15 USDT, putting even stronger pressure on the weak buying. Thus, they continued strong pressure on the purchase, bringing the price back below 15 USDT.
I immediately filed a complaint to the Bitforex exchange, because I did not know that buyers of the IEO offer could sell CUC immediately from August 16, but I was convinced that they could start selling it only from August 19/20, like the pre-sale users, which were indicated in the Bitforex exchange start rules. We planned to create a price and a stronger demand, but selling was simply relentless.
Looking at today and following all the orders, I can tell you that all the sales below 10 USDT came from your end, from buyers from the CUC pre-sale, where you were paying $10 for 1 CUC. Now, you are selling the same for 7 USDT, and even for 5 USDT.
I have to be honest and say that I am not at all surprised by the sale of pre-sale users, because in my life and 19-year trading career I have seen everything. Buyers who buy certain stocks for 400 and sell for 50, buyers who buy Bitcoin for 60,000 and sell for 20,000, buyers who buy Ethereum for 4,000 and sell the same for 1,000, etc. Then they buy something else because they think they will make money there faster or return what they lost, so in the end, they lose there too and continue like this until they lose everything they invested.
The fear of losing money is a very dangerous thing, just like the desire to make money overnight. There is a loss inevitable in both situations. The desire to make money overnight is called gambling, not investing. Patience is the greatest virtue of an investor and is the only way to succeed in investing and make real money.
Of course, I would never suggest whether you should sell your CUC, at what price, or hold it long-term. It is up to you to decide personally. I want to address this letter to you investors in CUC from the pre-sale who did not sell it and comment on the current situation from my point of view because I know that this decline hurts you. But remember one more very important thing. It is just a virtual loss of value at this point. You only lose when you physically sell what you have; as long as the price moves, the value is virtual and changes every moment. However, just as there is a virtual ‘loss’, there is also a virtual and potential ‘gain’ when the price rises.
However, you cannot trade in the short term with CUC at the moment, which does not have enough volume yet. I don’t think there’s any point in that, but the decision is up to you personally.
I’m sure many will learn what I learned, but it takes many years in the market. I have spent 19 of them so far, from stocks, forex, and commodities, to cryptocurrencies, and traded full time, a large part of it professionally.
Let me now go back to the next steps. Tomorrow is the listing of CUC on the secondary market on the WhiteBIT exchange, as planned at 09:30 h (CET). WhiteBIT should immediately open deposits for CUC, for all those who have open accounts with them. The initial price will be, of course, the same as it is on the Bitforex exchange at that moment.
After that, we have a plan to continue listings on Dextrade and Alterdice. Since we went public, we have received another 14 requests to list our CUC on new exchanges; as my team has already mentioned, many of them from the Top 10/20.
We will soon make a priority list in agreement with the experts and start new integrations and listings, according to plan, one new exchange every month.
This first listing is just one small step towards our success. The start of such a small exchange, with weak demand, is good in my opinion, regardless of the panic that prevailed and the current price. We’re live, CUC is on the market, and you can trade. But, our goal is long-term, and it cannot be achieved overnight. I want you to continue believing in us in Cuprum Coin.
Anyhow, I wish you much success in your further trading with CUC.
Mario Urlić
Founder/CEO
CUPRUM COIN, The Cryptocurrency of the Future
the project is absolutely disappointing. people who bought in the presale were totally ripped off. a promise of $25, then you can send a maximum of 50CUC per day…. An absolute rip off. NOT nice! We will See what happens. normally CUC would have to pay 10$ damages to all presale buyers… what a damage for the people who give you Money for your project Last year…
Dear Bogdan,
So the market has set a price which is currently 5 USDT, not us. We will now show you with a simple calculation that you, the pre-sale buyers, are in profit even at that price. So if you bought CUC in the presale with BTC then the price of BTC was 60k on average. The calculation is as follows. With 0.10 BTC you could buy 600 CUCs, which you can now sell on the market for 5 USDT. For the amount you receive, ie. 3,000 USDT, you can buy 0.15 BTC. This means that even at a CUC price of 5 USDT you are in profit of plus 50%. So this is in case you want to get out of CUC at that price now, and it’s up to you to decide personally who has more perspective, BTC or CUC in the future.
Btw. You didn’t give us any money, you bought our product (CUC), which you can now sell in the market if you want, at the price determined by the market. So we really don’t understand your statement that you were robbed or that you were suffer any financiall damage? We’re sorry you feel that way, and we just proved you’re very wrong.
mister urlic, I partially agree with you, but if you create a trading contest as soon as you hit the market, you are inviting people to buy and sell short, which generates precisely what happens. The pre-sale we have continued to suffer from not being able to sell at the exit and have the opportunity to reinvest larger amounts in CUC and the IEO investors have been very favored. Those of us who bet on cuc from the beginning and have waited many months for the big day have been left with foolish faces. I trust cuc and the project but with a bad taste in our mouths.
Dear Antonio,
None of the IEO buyers profited and no higher prices were traded in such volumes. The price was returned from the initial price with very small quantities, considering that the purchase was not even created properly. In cooperation with our market makers, we did everything to stabilize the price and we succeeded, and we are sure that this price is a starting point for our CUC, both psychologically and technically. Because everything that took place below the price of 5 USDT was an attempt of the manipulation, very weak and ineffective.
It is up to you personally to decide what to do with the CUC, sell it at the current value of 3% or keep it.