BitBank giving free XRP?

[ravintolx]

I just happen to wake up with the whole alt market in red and started to investigate the reasons why this could happen to Ripple. Since each alt coin depends on the price drop from BTC but here's another interesting story of why I believe price has dropped a lot and I would like @JoelKatz to explain this.

I just read on BitBank's post about offering Ripple to the Japanese Market, claiming they are "the only exchanges in the country that allows dealings and deposits / withdrawals through XRP / JPY board / trading API."  But they also said something very strange:

Quote

About ripple (XRP) contest campaign
Overview
Every day for three months during the campaign, XRP equivalent to a total of 800 dollars per day will be given to customers who are within the top five ranking of the sales volume on bitbank's XRP / JPY board, according to the proportional distribution method. This will provide XRP for the total campaign totalling 736,000 dollars

Are they seriously giving away 736,000 dollars in XRP to those who trade more on bitbank's XRP/JPY board?

It just so happens that the trading volume of XRP/JPY in Tokyo JPY EXPLODED between 7:30am and 9:00am EasternEuropeanTime

I would say it's a great moment to buy a hodl more if Bitbank users are joining the rally but hey guys, I really don't like that every time a new exchange comes the price drops dramatically after a massive purchase  

 

[Guest Lambo]

I'll give $800 to 5 people who perform well for me too.

[thedangerdawg]

its not $736,000... $800 x 92days = $73,600

[MDBK]

Samething goes to korean exchange coinone. 

https://coinone.co.kr/notice/posts/181/?page=1

[JoelKatz]

I think they're making enough money that a promotion in the $80,000 range is not completely implausible. But it does seem extremely generous, I admit.

[bilenyok]

Hi @JoelKatz,

How are you?

I hear that some BIG news will come this week? Is it true, right?

Best regards.