One of the biggest selling points and perceived benefits for the widespread adoption of Cryptocurrency is that we run a decentralised network. We take great pride in the fact that there is no central authority calling the shots and controlling the distribution of wealth. But really we need to revisit this thought, because it does seem that there is a caucus who control a chunk of the funds and they indeed call the shots.
We should all still remember the news that Binance recently bought the largest price referencing website CoinMarketCap. Now from all the angles I've tried to look at this news from, it just doesn't look right and in the least like good news to me, maybe you can prove me wrong but hear me out first. What that news means now is that Binance and CZ Binance, the owner, already control a really really rather too big chunk of the amount of Bitcoin in circulation with Binance of course, Now they will not only control the money (and mind you they can dump prices whenever they want) but they will also control what information to put out through CoinMarketCap. We have already seen cases in the past where Crypto pairs were delisted from Binance for the very most minute and sometimes stupid of reasons and offences. Going forward, I honestly do expect that many coins and tokens will be removed from CoinMarketCap now that CZ controls it. So now he controls the money and also the news (isn't he just gearing up to take over the world hahaha).
If there is any lesson you should have taken away from the whole Steemit and Hive and Justin Sun debacle, it is that the top guys can do and undo. All it took for Justin Sun to be able to dethrone the Steemit witnesses was for him to connive with the owners of Binance, Huobi, and Poloniex (which Sun owns by the way) to give him users tokens. Incidentally or maybe unincidentally (we never know) the owners of these Exchanges are all Chinese just like Sun (if you're Trump then you probably hate the Chinese so much lol). So if he needs some helping hands to do the dirty work, his buddies can just come together, pool resources and get it done in no time hahahaha.
Personally I don't like CZ and Binance (sadly I still trade there and will continue to trade there lol). But then if there is anything you can bet your Bitcoin and even BAT on, it is that these men are silently (come to think of it, they are no longer even silent about it at all anymore), they are loudly centralising Cryptocurrency.
Well if you loved this piece and you learnt something from it, be sure to give me a follow so that when I drop more like this you would be notified. Thanks and bye for now dears 😘😘
The Don out.
