Clown ass bullshit.
I've seen AllianceBlock trending on Coingecko lately, which caused me to look into the project. (Trending on Coingecko is a simple thing – all you need is queries. If you tell your Telegram group or hire people to search for your coin over and over in Coingecko, it will trend.) Nonetheless it is an effective technique. I clicked on the damn webpage.
Here's why you should stay away from this project if you have any kind of fucking self respect.
Crypto is separating itself into two separate and distinct camps — those who want to #blingout as a bridge to traditional finance and those who are looking towards the greater new world of individual financial sovereignty. Guess which camp I'm in. AllianceBlock is squarely in the other. The mission statement of the project reads:
AllianceBlock is building the world’s first globally compliant decentralized capital market.
The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that bridges traditional and decentralized finance and automates the process of converting any digital or crypto asset into a bankable product.
Bitch, how the fuck can you be defi and "fully compliant"? Fuckin fags are trying to buzzword you to death. All, as in every single one of the, major economic powers are trying desperately to line themselves up at the crypto-fiat off-ramp to collect as many taxes as possible. Defi is about bringing the market to us. We don't have to pay taxes on defi gains, because we'll pay for our services in sovereign crypto. We, the individuals taking all of the fucking risk in defi without any of the big bank bailouts, want to pay the same amount of taxes as Jeff Bezos or Donald Trump. For now, that requires being distinctly non-compliant until you pieces of shit recognize a new world order is in place.
Crypto is already bankable, just not with the banks that give you a 0.0000004% interest rate and freeze your account for no reason. You can travel with Travala coins — no conversion. You can buy luxury vehicles with BTC — no conversion. I found a search engine for products you can buy with crypto without conversion into fiat. (And no, you don't need a crypto debit card, which is also a scam.) I lost the search engine site, but it exists. If you know it, put it in the comments.
And these AllianceFuck guys somehow think they are going to broker a peace agreement at the fucking Arab-Israeli border. WHAT the fuck.
The deeper point. Why would a successfully decentralized project have the need to negotiate any sort of agreement with a traditional compliance infrastructure? The entire point of defi is that we understand that government will intrude and invoke and take and rob wherever it can. The point of defi is to create a world where money and state are as separate as church and state. 500 years ago, the Pope controlled the army. He doesn't today. 5 years from now, the Fed and IMF could be rendered completely irrelevant — but only if we stay away from obsequious projects like AllianceBlock.
Honestly, I can't blame the team. They seem to be decent professionals who came up in good families and knew nothing except the path of boarding school, world-travel gap year, Ivy League college, Wall Street job, segway into high-level professional consulting business at high levels of tradfi and traditional government. They don't know anything else. They saw defi and they saw an opportunity. They are philosophically bankrupt, however. It's not their fault. The traditional world has been good to them. They have no reason to disrupt it.
They run on a Delegated Proof of Stake (DPoS) model, which basically means controlled opposition. You have to be cleared by the current regulatory structure in order to present possibly disruptive ideas to it. Retarded from any sane person's perspective. But this is what you get from people who have never had any reason to buck the status quo. DPoS is created for institutional investors, not individuals, so don't get in here thinking you're going to degen your way to a 3X like this is some project starting out on Dextools. You will have to KYC (duh), and you'll be under the purview of every single regulatory body in the world, I guess, if AllianceBlock's assertion of "building the first globally compliant decentralized capital market" is to have any effect.
They have Service Nodes Owners and Data Nodes Owners as some kind of consolation prize for retail investors who think they're going to play with the big boys. Ideally, the number of people serving these nodes should be 0. That would send a message loud and clear.
Seriously, read the whitepaper. If you're not an institutional investor, you're basically enslaving yourself to them within this system. Spend your money on true defi that is TRULY decentralized. AllianceBlock uses the word as a buzzword and it is a fraud. Seriously, you peons. You don't have to use that word. Just say you're trying to make money by bridging fiat institutions into crypto and call it a day. Don't SEO for terms I'm looking for, show up in my search results, and have me waste time researching your bullshit. Although Amber is hot. One of you assholes ask her if she's available for some crumpets and Moscato or a Netflix and chill.
For everyone who isn't looking for a date with Amber, stay far away from this shit project. Spend your time on real defi that helps to bring sovereignty and freedom to the unbanked and the underserved. Let these guys serve tradfi, and don't get caught up in this web. Not only will you lose your soul, but you will lose a whole lot of money as well.