How and why on earth did cryptocurrency become what is is today and should we seriously do something aboout it?
My first thought is - rather fittingly - the genesis block of BTC. Specifically the message: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks Today, over 10 years later, this kind of message might as well read: Coindesk(dot)com xx/xx/2019 Crypto whales and miners on the brink of a second bailout for cryptocurrency exchanges Bitfinex being perhaps the most iconic example. Losing 850 million USD just like that thanks to transnational government agencies, they faced a similar fate as banks in the housing crisis. Total wipe-out. Just like banks, these monolithic exchanges are too big to fail. Failure would mean a global financial crisis in crypto, much like mt.gox. Not that different from the banks that got bailed out by institutions, Bitfinex received the same treatment, except from whales, investment funds, rich corporate entities and such. They covered for the whole loss basically, allowing things to keep operational at least. There wasn't really any demand for another tether, so without it, it could have been an economic meltdown in crypto. Hearing about similar offers made by other rich entities operating in the crypto scene to Binance after their hack, I'm starting to think this has become an even bigger, more common thing with crypto exchanges than it has been with banks. It's rich people in positions of power protecting their own interests, except that in the proper spirit of crypto, it's quite secretive, likely (pseudo)anonymous and way less transparent than what the central banks did. Due to the nature of this technology, it can be hard to grasp what the actions taken by Bitfinex mean. To my understanding, they minted a new coin, LEO (witty name for a token under these circumstances..) and basically just decided it's market cap is 1 billion, then in a private sale, managed to somehow pull off the biggest ever ICO in the history of crypto, 1 billion of funding in just 10 days for what appears to me as basically printing money in order to cover for accounting, as this exclusive club taking part in the sale of LEO committed into buying said tokens using the money Bitfinex previously printed in order to manipulate the markets and profit, USDT that is. Can't remember any ICO in the past where the minimum barrier for an individual to participate was 1 million dollars and for companies, groups, or funds 100+ million. We traded the tyranny of the banking system for a system that eventually reached centralization of power to a much greater degree, accompanied with lack of regulation and oversight which we all welcomed. I have observed and participated in the scene for at least 9 years, so almost from the very beginning, seeing the rise of first altcoins for example and all the crazy phenomena which emerged and how the community dealt with them, evolving in the process. There has been a distinct pattern that can be traced back to these early days, where some group of people would figure out how to use this new technology in all kinds of creative ways which under normal circumstances would have been considered fraud, collusion... all kind of things we did NOT want. So when the majority aka victims became aware, we always protested accordingly. Pre-mined cloned coins that were hyped over social media only so the creators would profit? We decided they were worthless. So these people, having a very lucrative way of essentially scamming people dreaming of moons came up with a solution: there will be no pre-mine, but coins were launched under the radar and only people with power (many BTC) were informed. In case you aren't familiar, when a new minable coin is released and there's only a handful of miners, a significant portion of the tokens in circulation are mined in an insanely fast manner, first 10% of total supply generated in a matter of hours perhaps, giving everyone who managed to mine on the day of launch a major advantage. We decided the secrecy was equally bad and they openly announced these coins, directing masses to use mining pools, only for them to be be under DDOS during the launch. That pattern eventually evolved to ICO's and everything else we see today. Ripping people off in sophisticated enough ways that we put up with it. After all, we could always get lucky from the 'generous' pump & dump groups they were organizing and offering to us. The system may have changed, but the philosophy is the same: people with the most money either as individuals or a group exploiting 'lesser' people and groups, concentrating power (BTC) in the process much akin to 'rich get richer while poor get poorer'. 10 years onwards, thanks to the financial side (trading), the whole crypto economy is still not only using but dependent on market manipulation and all kinds of deceiving schemes. This has been a major obstacle to wide-scale adoption, despite powerful people trying to convince us that manipulating prices to the level of a bubble will lead to people thinking this technology is great and start using it. In reality, many among the general population either had or started having doubts about these bitcoins. Imagine if they tried to sell internet and all of it's possibilities solely through nigerian prince scam spam. Then there's the miners, one of if not the most powerful entity in cryptoscene as a whole. Naturally their power and influence only grew, significant investments were made. I remember conversations with some chinese guy mining LTC back in 2014, he was always like "Yay, the newest shipment of 300 AMD GPU's came straight out the factory". Must have had thousands. Asics had begun dominating BTC mining and they weren't cheap either. Not to mention all that electricity too. Where I'm leading you with this, is the current situation where we have established mining companies with ASICs dedicated solely to BTC mining for efficiency, probably pretty much useless for anything else. Valuations of 100's of millions if not billions at their peak. Then we realized how stupid it is to waste electricity like that when we could do it in a better way, Proof-of-Stake. Instant conflict of interest hindering further innovation due to competition instead of the opposite. The mining giants refuse to go out quietly and many have been mining BTC at a loss (electricity) for a long time now, effectively needing a pump to dump those mined BTC just to cover their operating costs in the past as they naturally didn't want to sell them at a loss. Side-note: I think the current pump is due to a lot of BTC miners quitting and cashing out of BTC in a way that doesn't bankrupt them. To make matters force, they can effectively coerce both whales and crypto exchanges to co-operate in order to pump the prices because if the miners go out of business, everyone utilizing BTC for profit is in big trouble. So if they say they need a pump to dump, they get one. Bail-outs for miners too for christ sake. Luckily, we have alternatives being heavily developed, but I fear for a financial meltdown for crypto before they reach a mature stage. Not a very popular subject to my knowledge, because in the near future, somebody has to pay the bill and this time it ain't covered by taxes collected. This awesome technology has been primarily abused and exploited, with people innovating in the are of 'get-rich-quick' schemes more than the technology itself. Ethereum was supposed to be a paradigm shift, but it became another instrument of the same scheme, even though it helped push tech forward some. Remember that this is a time of decentralization. It's up to us, the collective, to do something about this if we want (or even can for that matter). Ironically, we stuck with the old mindset of 'just wait it out and The Man will fix it for us eventually' which was supposedly a thing of the past. So I ask you: What are your opinions about the current state of affairs in crypto, especially the financial side? Do you feel it's all good and if so, why? Any and all input is welcome. Let's make the scene a better place and show good example to the pagans who doubt us due to our dubious practices in the past and even today, furthering acceptance and adoption instead of laser-point focus on profit to the point the system collapses.
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wui (66 points, 14 comments)
Welcome to A+ Signals! We are a large scale cryptocurrency community providing you with access to some of the most exclusive cryptocurrency signals, newsletters, magazines, trading indicators, tools, and more. We aim to provide our users with as much information as we can to ensure maximum profit, no matter if we are in a bullish or bearish market. Premium Cryptocurrency Signals - Signals are announcements of a good buying opportunity for a particular cryptocurrency based on either fundamental analysis, technical analysis, or both. Our signal providers are some of the most prestigious on the market including but not limited to Palm Beach, Asian Whales, Alan Masters, Black Marlin, and more. We currently provide signals for Binance, Bittrex, and occasionally other exchanges. Here is a list of our providers:
Alan Masters VIP
Asian Whales VIP
Binance Trading Premium
Coin Trading Premium
Crypto Signals Premium Club
Crypto Whales Club
Palm Beach Confidential
Palm Beach VIP
Premium Crypto Signals
Verified Crypto Traders
Black Marlin VIP
Wall Street Crypto
Other EXCLUSIVE Signal Providers that can only be found at A+ Signals!
Bitcoin Exchange Whaleclub: 30% Deposit Bonus. Bitcoin haberleri ve Ethereum, ETH, Ripple, XRP gibi kripto paralar ve blockchain ile ilgili son haberler ve teknik analizlerin yer aldığı bir haber portalıdır. Bitcoin whales have taken the bears by surprise with the recent move past $11k. There is a serious lack of patience among traders and investors in this market and that has a lot to do with the fact that most do not have prior experience in financial markets. Therefore, they expect something to happen quickly and they expect markets to behave rationally all the time. Bitcoin outflows on Binance. Source: CryptoQuant.com On-chain activity surges highlight Bitcoin whale movements. In addition to the unprecedented increase in outflows on Binance, whales are increasingly moving their funds.. Researchers at Whalemap, an on-chain market analysis firm that tracks Bitcoin whale activity, said large volumes have been spotted. Binance is a broker that offers Bitcoin and other crypto derivative products. You can also trade ETH, ETC, LTC, BCH, DASH, XMR, XRP, and a lot of other altcoins! The platform is constantly updating and evolving, very active support staff and good track record. Sign up to trade these crypto derivatives, pretty unique in the crypto market! Simplefx is a CFD trading platform. You can trade crypto ... A Bitcoin whale is any one person or a group of people/entities that have in their possession a large amount of Bitcoin. Considering the constant variation in its value, what was once considered to be an average amount may come to be worth a fortune in the future. Still, not everyone is able to become a Bitcoin whale. Not only is Bitcoin rather expensive nowadays, when considering a direct ... Bitcoin from Bitstamp to Binance. Step by step overview on how to withdraw Bitcoin from Bitstamp. To withdraw funds from Bitstamp, one must verify his/her account first. After such, you will be able to transact via Bitcoin or Fiat money. The transaction time at Bitstamp does not take too long, and the process is also user-friendly. Here, you will find steps that will guide you on how to make a ... We trade in Binance , Bittrex , Bitmex when we share an Gem/signal we usually get 5 Approvals from our Chief of Analysts team first. have questions? we want to let you know that we will make it more easier for you and help you along the way with your cryptocurrency journey. We know that cryptocurrency trading is a complicated task. Our mission is to make it more easy for you . What we do ... Biggest worldwide bitcoin and altcoin trading communities. 34500+ Traders, open 24/7. Join us. Traders in our groups. Testimonials “Whaleclub is the biggest trading community that provides valuable feedback, which helps us improve our services.” Nejc Kodrič. CEO, Bitstamp “The Whaleclub community is where we go to learn what real digital currency traders want to trade, and how they want ... About Binance.com: New: If you want to buy Bitcoin or other cryptocurrencies from the United States, visit Binance.US. European users can purchase crypto with EUR and GBP on Binance Jersey. Binance.com offers a wide range of cryptocurrencies with several payment methods, including credit card and bank wire transfers. Trade with 100+ altcoins with margin up to 125x […] Read Binance.com Review ... Trading with Binance Guide. Binance is arguably the best cryptocurrency exchange in the crypto market and it’s definitely the most trusted exchange. Binance has a user-friendly interface but also offers an advanced interface for more experienced traders. In order to start using Binance to trade cryptocurrencies, you will need to open an account, a fairly simple process.
Record $816M in Bitcoin leaves Binance — Are whales ...
Review of Whaleclub, a bitcoin exchange that uses dirty affiliate marketers to bring in new customers then charges up to 1460% financing fees. *****Update***** Someone is using an external source ... Bitcoin Kurs steigt 100% Beste Coins des Jahres BTC Whales & Scams Halving Banken Binance 🛳 CryptoRockstars Tickets (Code - 10%: CRYPTOMONDAY): htt... In todays video we discuss the bitcoin and ethereum price movements. We also go over a whale who has sold 4000 ETH on binance. Last but not least we go over ... Alright Altcoin Daily Team! Let's do some whale watching! Grab a drink! Let's go. 👍 Like. Subscribe. Sources Binance: Bitcoin Live Trading View https://www.b... Heute zeige ich euch wie man sein Guthaben auf der Exchange Binance auflädt bzw. Coins dorthin versendet. Außerdem wird gezeigt wie ihr Coins von Bitcoin.de ... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... Binance saw its biggest Bitcoin ( BTC ) outflow in history on Nov. 3, according to data from CryptoQuant. A total of 58,861 BTC were withdrawn on a single da...