Is there a Slack channel for Lykke? Seems like the most traded asset on Lykke is SLR but it's hard to determine buys vs sells. On a side note why is the price of LKK dropping?
Yes, there is a slack but it's not a public slack. The telegram-channel is public and also team members are quite active there:
https://telegram.me/joinchat/AEGiqkF-_dNaHMwQbRSnAgBut there are thoughts about setting up a community-slack.
Why the price is dropping: I believe there are two reasons:
1) Some sold LKK to have money to buy into the 1YLKK-forward
2) Bitcoin rise. On Polo it was a bloodbath today about 95% in deeply red (still is, but it looks a little bit better now).
What happened on Poloniex. Seems some coins like burst and pascal have risen in the past couple of days. You think people are selling alts to get their hands on BTC?
Yeah, it's a bloodbath lately ;-) And yes, it has a lot to do with sell-pressure because of the Bitcoin-rise. At once there is the typical price-adjustment, but it's also anticipation. People try to be in the best position in case that the scenario they believe is most most promising in terms of profit (not necessarily most likely) realizes. And many seem to bet on an approval of the Winklevoss-ETF, while I'm very skeptical that it will get approval. But if, it's pretty much a safe bet that Bitcoin will reach a new ATH.
I had a good laugh on reddit yesterday. Somebody asked:
"Where can I get the results of the ruling the quickest when it comes out?"Answer:
"any current btc price chart ;-)" I personally don't sell any alts because I believe BTC involves a much higher risk than most people may think (China might be on the safe side soon, but the Scaling-Debate won't end and could turn into a mess) and will be more volatile and unpredictable than Lykke for example or Factom or some others. They also drop in price, but I have no doubt that they will recover.
And like in the end of 2013 with Litecoin, that exploded x30 (and even more) once Bitcoin crashed, it's my bet that if Bitcoin should explode it will come down again and that will be the time to celebrate if one is invested in good projects.