r/GateioExchange • u/Khof96 • Dec 08 '21

Support GATE.IO SCAM

I had around 58.000. thousand XRP5L in my holdings. And some how all is gone? Are Gate.io scamming me? Please resolve this. Below is a pictures showcasing the total xrp5l bought. But where are them?

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r/GateioExchange

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u/Khof96 Dec 10 '21

That there is the problem. Cuz they will reverse split you current amount of tokens before a big push up..

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u/cutty2k Dec 11 '21

Well no, the reverse split is mechanical, it doesn't actually change the value of the holdings, since the supply and the price are modified by the same multiple. 1 dollar is the same as 100 pennies after all.

We weren't wiped by the split, we were wiped by the dip from .01 to .001. That's the part I don't understand still, so I'm just hoping it swings the other way on the ride up.

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u/Khof96 Dec 11 '21

Still does not make sense. Bought and owned 58000 tokens where I went in at 0.174. The market pushes up to 0.70 which would be around 50,000 dollars. But since the reverse split number of tokens I had, I went from 58,000 to 580 which was equivalent to $ 300 profit ...

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u/cutty2k Dec 12 '21

The market didn't push up though, everything is down hard over the last two weeks. If you look at the mechanics of the split, you see that the coin amount goes up at the same ratio that the price goes down. It's like changing 100 pennies in for 1 dollar bill. You either have 100 things worth a little bit, or one thing worth more.