$1.4 billion worth of BCH account, with over 20,000 BCH scooped up hours before the Coinbase fiasco

When the Satoshi entity created Bitcoin, Coinbase was the last thing in his mind. In fact he wanted to get rid off things like Coinbase and create a new monetary system of exchange because he was afraid of what might happen. And it did happen. Ironically, "Bitcoin Jesus" Roger Ver that created Bitcoin Cash as a way to get back to Satoshi's vision, was instrumental for one of the biggest insider scams in crypto history.

Screen Shot 2017-12-20 at 11.54.18 AM.png

full chart here

As I mentioned before in previous posts, decentralised exchanges will lead the way because scandals like these will keep popping up. Projects like 0x, Bitshares, Kyber can facilitate the framework to build exchanges that are independent from the flawed human factor. This is not just greed. This is simply human nature. When money starts flowing with that ease people act stupid.

I won't be surprised if the next big correction comes from a scandal such as this one. The public's trust can be shaken as easy as it can be build. Enthusiasm and FOMO can turn easily into FUD and then growth can be suspended.

Let us not forget that crypto has been around for 9 years now and there is no product that is being widely adopted. This was not the case when the internet came about. There was wide protocol adaptation. There was actual usage, not just speculation in value exchange. Bitcoin was supposed to revolutionize money yet we see the first adopters that build the exchanges to fall into the same pitfalls as those who they were trying to fight. Crypto wealth has never been so concentrated to few hands.

To the central authorities that we are trying to fight, we all seem like immature babies begging for regulation because we can't handle our toys. It is only a matter of time until someone switches the lights off. Decentralisation slowly becomes a meme word because it has yet to be used proactively. Scandals like the one with coinbase don't make the whole thing look like a revolution but more like a con game. A game we are all well aware because it has been played by the bankers over the last century or so. Players change but the game, still, remains the same.

Every 2 weeks when there is a difficulty adjustment BCH pumps, what a coincidence.

Same old story, human greed...everyone wants a bigger piece of the cake.
I wonder how can you trust something that gets pumped every month by a tiny group of people who aim to have the control over the currency.

Maybe something like atomic swaps will remove the need for most exchanges?

Decentralization vs Human Greed, can David defeat the Goliath?

there will always be people trying to game the system.
thanks for the perspective.

mine:
Night Before Christmas - Bitcoin Version

https://steemit.com/bitcoin/@zinzen/night-before-christmas-bitcoin-version

Ripple is adopted.
https://ripple.com/solutions/

If UBS, Santander, American Express and Credit Agricole doesn't speak a word i don't know what does.

still experimental. when its adopted price will hit 5 dollars a pop

Maduro's Petro is adoption of Ethereum. I won't be surprised if russian cryptoRubble will also be based on Ethereum blockchain.

This wasn't anticipated before and who would've thought??? now that it is becoming mainstream, it's freaking people out! Interesting post^^

Decentralize everything should be and will be, this may just be the catalyst to arriving there faster. They seek to divide and conquer...something that has been around since societies emerged. Then with religions, politics, etc.. Cryptos have the ability to unify people again, once decentralized fully.

I often am under the impression that "insider information" plays too big a role in the trading of Crypto.

I'm not accusing anyone, just stating that it is the impression I get many times.

Excellent post.Great information.

That was a smart move of Ver and Coinbase who presumably coordinated the BTC selloff and the introduction of BCH to Coinbase.
I was watching this dramatic BCC rally live. That huge red sell bar was hilarious. All the noobs that bought the highs must be pretty pissed.

As you are writing, I am wondering whether there will be any repercussions for this scammy action.

Guys like Roger, Jihan, John Mcafee will boost and manipulate the price because they have the power to do so. It is the same history as in the real world, centration, power, and ego to have the control. The real crypto that will eventually win will be an underdog that nobody will expect.