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Bitcoin Cash price recovered partially. The positive is that it has found strong support when it trades below 0.01BTC in this pair which shouldn't decide anything, but yet, traders and investors feel it does.
It disconnected from this trade for one day, and there is a bullish sentiment in the community, there is new investors joining, but there is also the problem I explained previously with top exchanges manipulating, shorting and keeping bch price at a lower space than it should be.
Not going to explain a lot more about this, since it is all speculation without evidence. As I said before this is an obvious misconduct by exchanges and a 6-year-old kid can find out. Exchanges have been causing bearish sentiment towards Bitcoin Cash. Shorting and dumping every time Bitcoin Cash is escaping the trend.
I don't know if this is possible to escape but it seems a similar event to the AMC and Gamestop stocks when hedge funds were overshorting and manipulating the public opinion in news and newspapers.
As with Gamestop it is the same but instead of hedge funds it is the Bitcoin maximalists and their fairy tales that brainwash naive crypto investors since 2017 when the split happened.
Well, the introduction was irrelevant to the rest of the post but relevant to the current situation of Bitcoin Cash and matters a lot to all.
Today the SmartBCH tokens market (SEP20 tokens) had a great day. But not all of them and a lot of money is moving around between some of them and prices are not sustainable so we had Tango the new token of the Tango DEX dropping by what it seems to be 33% for the time being.
Not an investing advice, but this is where I am buying. It looks to be a great DEX and now we have four active DEXs in SmartBCH.
There are also two or three more that will come and the competition will be fierce, with Muesli already losing ground.
Muesli was fine but at some point the developers didn't communicate properly. Competition is not always fair, and some were accusing this DEX of getting ready to rug pull and scam the users. It seems it was always about the Cardano network and perhaps found out SmartBCH and tested the software.
Since this DEX has these plans, even if it was going to rug pull, why waste all the effort before openning for Cardano?
This is the mistake here that caused a lot of fud, which was fud as it had no real facts.
Second thing. I believe in anonymity on the internet. It is the right of any dev and they don't have to be known. This is not about the face or the personality of someone, this is about the code.
It can be a bonus to have a popular developer but there can also be similar plans to grab money of investors and deliver too little of what was promised. Lawsuits will be easy to proceed with a name and a face, so probably the public faces will have to be careful.
What I mean to say, is I don't judge or care if someone is known or anonymous. The anonymous developers may have many reasons. Are the anonymous writers not worth reading or are they scammers? I don't think so. Developers have different plans and some are motivated by greed, others want to create something to help others and be useful to the universe.
But there are some that don't want their work to be associated with their name, this is not a danger to an investment. Maybe they work for a tech company that would ask to patent their work. It happens, don't ignore there are reasons you never imagined for someone to be anonymous. It is the code that matters.
I raised many different topics here, and didn't analyze them a lot. There is a lot more on the anonymity issue which was my main concern today.
To summarize, I find online anonymity to be impossible for a common pleb like you and me. Those that can achieve it, are already invisible but as they keep going, they can make mistakes. When someone just tried to be anonymous without trying to damage other users, probably there won't be anyone looking for him/her either.
When a user of the internet strives to be anonymous, in most cases this doesn't happen because he is a criminal or wanted by agents. Usually this is because they have the wisdom to fortell what can go wrong if they announce their identity online.
Facebook is an example of what can go wrong. It is the exact opposite of being anonymous since users of some social media are exposing all their personal data to the whole world and villains take a hold of all this info.
And finally, do you think scammers care if you find their private information? Lets find out how many of the known scammers in crypto are in jail today. It is a few but very low number considering what happens and happened in the ICO days. Just the bitconnect guys and a few more running Ponzi schemes. The rest? Failed projects, this is how it was all explained. They didn't need to sell everything at once, just slowly until the trillions of tokens of the team were slowly selling and bringing prices down.
Note please that I don't write this to accuse anyone, and I love the new DEX (Tango), this is general feeling since up next a major scammer can appear selling his or her face and asking for your BCH, just to capitalize on the fact this is a real person that has background in businesses and other occupations.
It is not about the face it is about the idea and the implementation. The token information and how much is held by the team, a possible token lock, the whitepaper, the roadmap and how it is all carried out.
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