How Can Cryptocurrency be Taken Seriously When So Many Shady Deals Are Happening
I think we all know what happened last night with some major exchanges powering up their Steem tokens to perform a hostile takeover of Steemit. See above photo I made just before things went down. Now I won't get into the soft fork because I find that a group of whales colluding to fork somebody out of an asset that they purchased totally wrong as well and now they are crying about it because there was recourse. What was everyone expecting?? The big dog to lie down and take one up the arse?? This was seriously underestimating their opposition. An opposition with an awful lot of friends in high places.
But the bigger picture is that in order for crypto to be taken serious as an alternative method of payment, all this has to stop.
Who in their right mind would buy a Crypto coin if this kinda stuff is happening?? I keep hearing about being an early adaptor blah blah blah, the future blah blah blah in the back of my mind I keep thinking I am an early fucking eejet that bought some magic beans and hoped they gave me a beanstalk. Bitcoin and maybe Ethereum are the safest currencies out there. But how many times did bitcoin fork? How many times has it pumped and then dumped. Imagine going into a car dealership and having enough bitcoin to buy a Beemer. The dealer checks the market and you drive out in a Nissan Micra. This is the reality of it. Crypto is no more an alternative method of payment than the man on the moon. Give me a regulated bank anyday than this crowd of cowboys.
The poster boy of crypto, John Mcafee is always high as a kite somewhere writing songs about anal fisting (feel sorry for the wife). You have some people still preaching from the mount about how decentralised currencies are the future. Give me a break. The only people left in this racket are the ones still trimming off the top and looking after themselves. The others are a part of a community that are somewhat brainwashed into thinking their coin is gonna still moon sometime in the future. I for one have given up on Steem as a way of making it out of Dodge. I have seen too much shady shit going on in the space. And what happened last night will mean the beginning of the end. If there was a 24 hour power down I would wonder how many people would be availing of it now. I'm staying put because yer the only ones who listen to my shit. I know everyone is thinking about it but being a Steemian we all have that glimmer of hope that we will make it back to where we are. But we are not. Larimer is gone ages. He knew Steemit was in trouble and Ned was a dope. I think EOS will become what Steem aspired to be and become a major currency competing with Eth and Btc. Nobody is gonna work with Mr Sun after this debacle. I bet quite a few people would like to do a John Mcafee on him. Unless Sun puts his money where his mouth is and really ploughs some funds into the platform then we are in big trouble. And last night we truly saw the old saying in crypto. They are not your coins unless you have the keys. I reckon this may be the beginning of the end of a crypto exchange. Binance and Poloniex are now tarnished in my opinion. Last night had bigger repercussions than we thought. I do not feel sorry for the witnesses. I feel sorry for the sorry state crypto is in.