Hello Zcash team and Zoko. This is 100 % due to the fact that Poloniex allows margin. I often see price manipulation through order sizes larger than the entire order book on bitfinex because of margin, though I never have seen one this stupid, and obvious in its attempt to manipulate price. Poloniex obviously does not have margin controls in place, so if someone has 150 000 BTC equivalent in cash or other crypto they can pledge it as collateral and initiate a short position up to 2.5 x in leverage. This is classic market manipulation by the biggest manipulators in the crypto game. Poloniex should find out who that rich list account is that is spoofing the market with sell orders larger than the entire outstanding supply of a coin and restrict this type of activity. A 325 000 BTC sell order on LTC, that is worth $3.575 billion USD at BTC $11 000 price. This is impossible and would be larger than the entire 24 hr avg volume of LTC. I bet it is bitfinex or another market manipulator. There is evidence compiled that Bitfinex owns the rich list accounts on many exchanges and uses TETHER to manipulate prices. Bitfinex deposits TETHER in mass on Poloniex and they keep as little TETHER as possible at Bitfinex. They deposit the TETHER at other exchanges buy up raw coins no leverage and take out the raw physical. I am not saying 100 percent that is them though, I truly have no idea but it is easy to see that it is a rich list account attempting market manipulation, by suppressing prices during the crash of BTC on the 16 to 17th.
Dear Zoko, I would like to speak with you about implementing zsnarks on Etherum token(s) we are looking to create that will represent a 1:1 exchangeable value with a correlating asset. This asset is fungible, very liquid, and has mass adoption. I will discuss more in private what the assets are that we want to correlate the tokens to. I have a research paper I would like to share with you and my company has created an Erc20/223 compatible smart contract that takes in Ether and sends out tokens that represent the correlating asset. Our contract also handles the redemption of the token and returning of ETH at market price of the correlating asset as well as elimination of supply of the token. We use the ETH by either converting to cash or pledge in a swap for cash to buy the physical asset and hold it at a 1 for 1 reserve ratio. The smart contract is finished, tested and ready to deploy but I am only me and my small team we need a larger more experienced team to get advice and direction from. We are also exploring the use of Zcash protocol, and creating our platform using your blockchain and encryption tech that you built on from zerocoin. For now, we want to start with an ERC compatible solution because of penetration and potential faster adoption rate of our idea reaching an established audience. We want to do all of this as much as possible using our self funded sources from our crypto stash and we will wait on releasing an ICO, until we get generating solid reveune. Please reach out and email me at email@example.com and I will promise to show you an idea that will disrupt the face of global finance. You are the perfect person to get involved in this project as it involves the transfer of one of the most tradeable assets in the world, which needs to be done encrypted but with some trace for legal and tax purposes. Worst case scenario we can just talk and you can maybe point me in the right direction.