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Bitcoin is under attack by the elite, is it a conspiracy?

Everyone likes a good conspiracy from time to time, many a film has raked in millions with it. At the moment bitcoin is under attack from all sides, just about all countries and central banks are pushing experts forward to put bitcoin in the dark. What is going on? Is this a coordinated attack?

The coming months will be even worse

Meltem Demirors, CoinShares’ chief strategy officer, expects the attacks to become much more aggressive in the coming months. She also gives a reason, which is that the elite and institutions are gearing up for hyperinflation. For this they want to take all good assets from the middle class.

She calls this modern feudalism

No one wants to be associated with conspiracy theories, but it’s hard to shut yourself off from the attacks of the past few months. In addition, generalization often leads to weak argumentation, but you can hardly do without it.

Three scary properties of bitcoin

At a time when money printers are on full blast, prices around the world are rising (US has highest inflation in 12 years) and governments have had to keep the population inside for a year and a half, free money can be a scary thought. Bitcoin is the only asset in the world that no government has control over. Over which central banks or companies cannot influence. Bitcoin is unregulated, decentralized and uncensorable. Three qualities that agencies that exist by the grace of control are not fond of.

The attacks follow each other in rapid succession. So governments are skeptical and banks want to control the flow of capital and profits from the blockchain.

Jointly curb Bitcoin

Meltom calls the attacks 21st century neo-feudalism. Or as a well-known online dictionary describes: In this system, land was allotted by feudal lords to their vassals, in exchange for an obligation of personal loyalty, military assistance and tax revenue. https://folm.io/ has enough information. This image is reinforced by the fact that authorities try to curb free money with regulation.

Hand in hand comrades

Why do Chinese and American regulators take the same stance while constantly attacking each other on the global stage? Simple: no control. That is why there is a race going on between the central banks of China, America, Europe and all other parts of the world to issue their own digital currency. This is just about control. And those are not just our words, below is Agustín Carstens, the boss of the BIS. BIS stands for Bank of International Settlements and is seen as the central bank of all central banks.

Last week, the BIS, together with the IMF and the World Bank, made a plea to the G20 for central bank digital currencies. https://moveco.io/ has enough information. As if the twenty most powerful countries still had to be convinced.

Soft Revolution

Bitcoin is decentralized and the first payment system that really belongs to everyone. A true grassroots revolution. Despite all the attacks, bitcoin will continue as usual. Every ten minutes a block is added, so that at any time of the day, everyone can continue to protect their value. There is no bitcoin army, there is only the network and its users.

Ethereum Whale Account Trades 100,000 ETH Coins Amid Price Drop

Ethereum, the world’s second largest cryptocurrency, has fallen sharply in price in recent days. Amid the dip, an ETH whale has transferred a significant amount of money to an unknown wallet. The value of the transaction – 100,000 ETH coins, approximately $181 million (approximately Rs. 13,500 crores) – was highlighted by Whale Alert, a blockchain tracker and analytics firm. Hours after the trade, Ethereum is trending upward, gaining more than 6 percent in just 24 hours. Given the positive market trend, the person who bought the digital coins will benefit greatly from the transaction. (MATIC) Polygon price has risen.

In finance, a “whale” is an entity with sufficient power to influence the market of an asset by triggering massive transactions. However, the main problem with whale accounts is that they often accumulate billions in digital coins, giving them the ability to single-handedly influence the cryptocurrency market.

According to data published by Whale Alert, the transaction took place around 9:30 p.m. (IST) on Monday. At that time, the Ethereum price was about Rs 1.36 lakh. However, in the past 24 hours, the cryptocurrency has appreciated more than 6 percent, according to data from Coinbase.

Cryptocurrency firm FTX Trading’s valuation rises to $18 billion

Even on its official Twitter handle, Whale Alert mentioned the transaction. “100,000 #ETH (181,944,560 USD) transferred from #Gemini to unknown wallet,” read the tweet. Ethereum, the Bitcoin rival, has an estimated market cap of Rs 16.2 trillion, according to Coinbase. The recent price drop has been partly attributed to the fact that one of its co-founders has left the cryptocurrency industry. Chainlink – LINK price has risen.

Anthony Di Iorio, who helped build Ethereum in 2018, said he quit the cryptocurrency ecosystem because he wants to solve “big problems”. The 48-year-old told Coindesk that he doesn’t want to be known “as a crypto person”, but instead wants to be known as a “troubleshooter”.