@Pantera
edited
Price Suppression and Manipulation of Bitcoin Cash - Exchanges "Pumping" Shady Networks (Solana)
SmartBCH heralded a new era of smart contracts, blockchain interoperability, Web3 developments, decentralized finance, and NFTs for the robust Bitcoin Cash network. SmartBCH is a state-of-the-art sidechain to Bitcoin Cash. In the few months since the release of the mainnet is embraced by thousands of users. The network effect and the intrinsic potential of SmartBCH are undeniably powerful enough to propel Bitcoin Cash into the limelight once again since **BCH is the native crypto for SmartBCH**. Furthermore, the on-chain developments increase our expectations. Bitcoin Cash does not suffer from the centralization of development as other blockchain networks. Bitcoin Cash is backed by hashpower that reaches today 2 Exahash, **a higher value than the hashrate of Litecoin and Ethereum combined (****link****).** https://bitinfocharts.com/comparison/hashrate-eth-ltc-bch.html#3y It seems, though, that not even the security of the network matters to the so-called crypto-experts or the sheep investors that just invest blindly following suggestions of swindler-like Twitter and Reddit influencers. It seems the public loves getting manipulated. It was always the trend, though.
Bitcoin (BCH) is the Native token for SmartBCH I wrote a noise today expressing my concerns on the treatment of Bitcoin Cash by exchanges.
*...* ***I begin to think that if SmartBCH had a native token its market cap would have surpassed BCH.*** **noise.cash** https://noise.cash/post/z2403p0svr4n SmartBCH has thousands of users already. 40 different projects, 3 DEXs with 3 more in development, an NFT marketplace that will soon open trading, various successful NFT projects, and HUGE potential. How many users do you think Solana, AVAX, Algorand, Terra-Luna have? The overwhelming majority community of all these projects is constituted by speculators driven by price adoption. "Number go UP". Nobody ever uses any of these networks, and SmartBCH offers better alternatives from all this centralized vaporware. I wrote previously the same about Cardano, Polkadot, and a few more. Cardano and Polkadot were all about promotion and marketing all this time. PR and organized campaigns brought these projects into an undeserved market position. I have been critical of these two networks since the beginning, and in particular for Cardano since 2017 when it started its aggressive promotional activities. The rest I've mentioned are just the same as Cardano, but even more centralized. Solana, especially, seems to be centralized operated by individuals maliciously hiding the total coins in circulation in 2020 (source1, source2). https://twitter.com/Justin_Bons/status/1456703476633939972 https://web.archive.org/web/20200701055655/https://medium.com/coinmonks/solanas-snowball-of-lies-entraps-sol-holders-after-a-month-long-coin-burn-deception-ce908dc0a398 *The native Blockchain explorer (**explorer.solana.com**) is a hot piece of garbage. At one point, transactions weren’t even time stamped making auditing and accountability nearly impossible.* https://web.archive.org/web/20200701055655/http://explorer.solana.com/ **Source** https://web.archive.org/web/20200701055655/https://medium.com/coinmonks/solanas-snowball-of-lies-entraps-sol-holders-after-a-month-long-coin-burn-deception-ce908dc0a398 Later on, during this September, Solana had its network shut down for almost one day! **Let me repeat this:**
Solana Network DOWN for 17 hours! *Solana developers have* ***decided to restart the network*** *after over seven hours of downtime.* Coindesk https://www.coindesk.com/markets/2021/09/14/solana-validators-ready-potential-restart-amid-blockchain-outage/ The downtime **was seventeen hours**, though (source). https://www.youtube.com/watch?v=jf9JfOmEWp8 **Misinformation once again** by the uncredible crypto news outlets. **Solana is just a centralized shady project** that exchanges "pumped" to Jupiter. This is how Solana price reacted since September 15th, after the incident occurred and the developers "re-started" the ****Solana centralized**** **network**. ****SOLUSD 1D Chart. (******The dot depicts the September 14th candle.)**
From $166 it is reached a new ATH of $260. Extreme manipulation by exchanges to protect their investment. Yet, **Bitcoin cash kept dipping in the abyss of crypto exchange manipulation**. ****Chart: BCHUSD Daily**** **since September 14th (dot):**
Seriously. **Nobody is selling Bitcoin Cash today**. Especially not with the current developments on SmartBCH. This is fear tactics and easy prey by the exchanges that sell digits but not blockchain transactions with leveraged shorts. SmartBCH is decentralized and soon will upgrade to cut down on even lower fees (90%). This is the ultimate interoperable sidechain for DeFi, NFTs, and any smart contract applications. Nobody in their right mind would sell their BCH right now with all this potential and developments. Vast support for Solana by exchanges and “crypto-pundits” alike, and celebrations by the crypto media that kept promoting it massively (since they are paid to do so) despite all the major **RED FLAGS**. The eventual outcome, Binance yesterday, was left with absolutely no Bitcoin Cash at all to allow for withdrawals. It **kept protecting vaporware** like Chainlink, Solana, and other centralized, shady networks, just to keep making billions from the naive investors that keep pouring money in the dumpster fire.
*Source* https://twitter.com/TheBlock__/status/1461722139854311430 I will tell you one thing. I will buy Solana, not today, though. Not at $200. **I will buy Solana at $1 or even less since this is the fair value of this token.** If it doesn't permanently shut down one day and dives to zero immediately. And I will come back, quoting this post, and rub it in the face of all those supportive of this centralized garbage. Of course, all these shills will be long gone by then. They are paid for a certain time to keep spamming their nonsense and move on to the next one and the next one. There is an enormous risk with anything that has to do with Solana. **Either developing on top of it, investing, or using Solana under any approach, the risk involved is critical.**
In Conclusion Investors should apprehend that Bitcoin Cash has vast potential. An operational network, that was never shut down, always secure, completely reliable, with a high hash-rate (higher than Litecoin and Ethereum). A decentralized network offering high capacity and efficiency, with extremely low fees and lightning speed for transcations. Investors that are not short-term speculators but truly find value in working blockchain networks should **invest in Bitcoin Cash** since this is currently **the BEST OPTION AVAILABLE.** Consider this financial advice. Manipulation from exchanges can last for how long? A few months? A few years? Long-term investing with a horizon of 10 years or more is about the UTILITY of a network. The community is rising in numbers fast. I don’t think that any such manipulation can last for over two years. It takes a few months for every newcomer in Bitcoin Cash to understand there is an ethos in the people working on it. Bitcoin Cash’s professional approach has nothing to do with not secure and shady networks like Solana.
**Images:** *Lead Image Source:* *Pixabay* https://pixabay.com/tr/photos/robot-makine-teknoloji-kentsel-ai-2301646/ ***DISCLAIMER****: All material published in this content, is used for entertainment and educational purposes and falls within the guidelines of fair use. No copyright infringement intended. If you are, or represent, the copyright owner of materials used in this article, and have an issue with the use of said material, please send an* *****email******.* https://read.cash/@Pantera/cryptouknowns-battlegrounds-the-crypto-battle-royal-part-i-0ca762da#bad-link ***Also:*** *This post contains a personal view of the author (me).* ***It is not meant to advise financially*** *but instead to provide an idea/review/concept that could help the Bitcoin Cash / SmartBCH ecosystem improve.* ***Follow me on:*** *●* ***ReadCash*** *●* ***NoiseCash*** *●* ***Medium*** *●* ***Hive*** *●* ***Steemit*** *●****Vocal*** *●* ***Minds*** *●* ***Twitter*** *●* ***LinkedIn*** *●* ***email*** *●* *****tipb.ch***** https://read.cash/@Pantera https://noise.cash/u/Pantera99 https://medium.com/@panterabch https://hive.blog/@pantera1 https://steemit.com/@pantera1 https://vocal.media/authors/pantera https://www.minds.com/pantera99/ https://twitter.com/Panterabch https://www.linkedin.com/in/panterabch/ https://read.cash/@Pantera/cryptouknowns-battlegrounds-the-crypto-battle-royale-part-i-0ca762da#bad-link https://tipb.ch/Pantera
*****Don't forget to Subscribe and Like if you enjoyed this article!*****
8 comments
If ever I have enough money I would surely invest it though sometimes I'm afraid to take a risk.
Oh, you don't have fiat money either? How much inflation your economy suffers from? For my personal needs, goods have increased at least 50% since last year.
To say the truth, i have a sizable amount of Solana in my wallet. I didn't get it because i have faith in the project but because a friend gave me the signal. I think it was $135 or so when i bought it. When it crossed $200 i asked how he knew but he laugh it off and said the hype around it was much. Previously, I've traded on Binance smart chain and when SmartBCH came into existence , i got involved in it deeply. This made me try to test other waters and the first that came to mind was Solana , since it was one of my best investments (brought in lit of profit for me). I went to that same friend to see if solana has it sidechain too, so i can check out the tokens there but his reply was confusing. What i could deduce was that i should take profit when i can. That led to me selling half of it. SmartBCH is changing the narrative, So bad that so many people are trying to pull it down and also pull BCH down.
I was not aware of the fact that networks like Solana could be behind. I thought XMR and BCH were used as a collateral damage by some exchanges while they were trying to pump BTC. But it's a good insight, learned something new :)
Binance together with inside traders have a long history of supporting useless projects in the past. I remember how a pump-bot was buying Tron for weeks creating huge volumes in 2017 and made it relevant to reach top-5. I don't know if it uses BCH like that, it certainly doesn't favor it though.
Forgive me for my language, but there's nothing more I hate than manipulating thieves.
it is sad to see that the universe of crypto and blockchain is already dividing when we haven't even started the real battle against the true issue that is fiat, centralized gov and control that's coming from many places, i so wish people in the sphere would try and unite to build something that could truly change the world for the better, seeing how people on blockchain are bickering and pulling others down is a big loss for real decentralization and the freedom that blockchain should be bringing all of us, anyway good read, hopefully blockchain won't lose world changing opportunities for petty competition (i don't own either of the crypto mentioned) i only own my opinion and hope things improve for the blockchain universe to bring us the freedom i know and believe it could
There is an argument here, that takes time to understand. Having a private blockchain or one that can shut down is no different from the early centralized attempts of digital currencies that were shut down by governments. Even if there were no historic examples, centralization, means someone can just turn the network off. Crypto offers trustless networks. If we still have to trust IOTA or Solana devs, we did not take a step forward from the legacy financial system. I won't support anything that has a fail-switch or backdoors. Also won't support any centralized blockchains. How did the IBM blockchain went, anyway?