On a lighter tone, Vekson, a Monero Miner, and BTC Trader tried to lighten up a few minutes by trying to start a discussion stating, “Never in history has there been the printing of 2 billion Tether in less than 2 months.” In response, someone stated, Tether Printing is as old as Bitcoin and, therefore, to get over it. Justification is that Bitcoin would be 1$ if Tether did not start printing billions. Any time there is a talk about Tether (USDT) starts the printing thing never gets out of the discussion.
Nouriel Roubini tweeted: “Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have the liquidity they don’t have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!”
In response to Nouriel Roubini, someone clarified that it is based on supply and demand. Also reinstated, see what Central Banks can do and called that scam. Further, reinstated that Roubini was supposed to talk like an economist.
Yet others clarified that in the Grand Scheme of things, Bitcoin has fully recovered its CoVid 19 Downturn. Also, clarified the same could not be said for the Stock market.
Sydney Ifergan, the crypto expert, tweeted: “Lots of critics for Bitcoin (BTC) anything crypto. We need to wake up to the clarifications of common sense crypto investors. Embrace new tech for its value proposition and inflation hedge.”
Bitcoin is indeed a nascent asset; however, with a lot of potential. Bitcoin is Hard Money has it has Scarcity. And, some pumps are not real.
Paolo Ardoino tweeted: “A smart contract and a community does not make your project decentralized.”
In response, it was stated that a blockchain and an army of developers does not make the project decentralized either. Yet someone clarified, an anonymous founder which has gone missing does not make the project decentralized.
Thought furthered and the context evolved to state, “But a smart contract and a community can make project censorship-resistant or too expensive to censor and non-custodial.”
With many projects slipping under the guise of decentralization, it depends because hard forks keep happening, and the centralization is sustained. Whales, Pumping, Buying Sprees, Trading Information, and the Bitcoin halving is almost here. We need to wait to witness the action.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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