It seems that we are creating a new financial system in small steps. There is no need to hide that we again take the example from the system that currently functions. What is the difference? It looks like we only changed the group holding everything in their hands. It's hard not to resist this impression. Earlier, we had to deal with central banks, governments, informal groups and people whose material resources and influence are so powerful that they can boldly rule the global economy.
Similarly, it begins to happen in the world of cryptocurrencies. Lies, financial fraud, manipulation - the circle closes, and cryptocurrencies create an even more greedy system than we currently have. Although it can not be seen at first glance, it was exactly the same at the beginning of the current financial system.
At the beginning there was gold - at the beginning it was Bitcoin
Yeah. With the payment of gold, the world gave up for many reasons, but replaced it with something else - a banknote. Well, it started. Do you see the similarity of the beginning or not yet? So we go further. The number of banknotes had to be gradually increased, because they became popular and over time gold whales and banknotes appeared - banks. Similarly, it begins to happen in the world of cryptocurrencies. Banks already know what to do, and new whales repeat the scheme of action. The only difference is that now banks are practically single people and institutions, and this is not controlled in any way. If people had and have ANY impact on the previous system (through the election of governments), in the case of cryptocurrencies we have ...
Despite the fact that our eyes are soiled with information about regulations, nothing really happens. Look at STEEM. Who controls it so specifically? It's enough for a few people to make decisions, and your STEEMs are worth 50% less. You will say that FIAT is the same. In a sense, yes, but it does not happen on a scale of weeks and years, which gives people the average chance to counteract - even if it is generally an illusion.
If BTC is gold, where are the notes that gold replaced ???
And here we come to the first moment. StabelCoins have become banknotes of our electronic gold resources. Controlled by a handful, unregulated and ...... think for yourself. But this is not enough.
The ICO funded us the biggest bear market
The first bubble of all time on BTC was created thanks to Theter. Produced in a completely unregulated manner, shrouded in mystery, unverifiable and unverifiable. Completely American dollars, euros or any other currency. You can print, you can burn, even the price differences are similar. In the past, thanks to banknotes, and today thanks to stablecoins, the gold of our time - BTC - is obtained with various techniques. Please note that we repeat the errors of the previous system exactly.
And now we have the first economic crash in the crypto world
Thousands of people have lost huge amounts of money on the first major speculation, 19,000 USD -> 3100 USD. You know that it was identical with currencies and gold? It is worth to lean on it. There are whales that are much more ruthless than the ones we currently have and do what they want without any regulation or consequences, and that's just the beginning, because the biggest ones have not come yet. What is worse, the pace of their operation is extremely fast. Why? Perhaps because to get ahead of regulations, you quickly achieve the status of inviolable?
It should be noted that almost 2-3 times a month there is a small scandal. Bitfinex does what he wants with theter. CZ is making eggs from people by the IEO to create another speculative bubble to clear the market. This will lead us to another bubble and spectacular crashes. This is always the case when a white-hot crowd rushes to the market. Or maybe there is something else behind all this? Let's remember that it can be a smokescreen to something bigger, and someone behind the scenes can be shadowed and very powerful.
IEO, CZ, Bitfinex
Look how the situation repeats itself. We had ICO, now IEO. The CZ project assumed support for developing projects, but in the meantime they became a tool for the PUMP AND DUMP technique - which is not allowed on regulated markets. IEO is one of the biggest scams that have been created. Have you noticed one interesting thing in the projects PUMPED by CZ (I remind you that PUMP AND DUMP is illegal on regulated roars)?
I will show you activity with price and developer activity in a few projects, judge for yourself.
Examples can be multiplied, and projects with BIG DEVELOPMENT ACTIVITY were promoted !!!! Well, let's add the idea of Bitfinex to clog up $ 900,000,000 in losses. Let's add that for public turnover, most projects receive about 6% to 25% of tokens. Where's the rest? Used for DUMP technique and withdrawal of cash by CZ, BTC or ETH or STABLECOIN tokens. At the time of ICO, there were about 40-50% of tokens on the public offer - PAINTNESS WILL GROW UP !!!
I wanted to encourage you to think about it. Where are we going? Do we still have time to create a different economic model? Maybe a replay is needed? If so, then the cryptocurrency will be more brutal than in the current financial system.