Satoshi dreamed of a decentralized world where no one can control the privacy of transactions and without being dependent on any third party we can easily do the transactions. Satoshi wanted to remove the third parties (banks) from the transactions. But are we really follwing the path of Satoshi’s dream of decentralization? On 15th April 2019, Binance announced, they will delist Bitcoin SV. What Binance did was right or wrong is not the point but after delisting Bitcoin BSV, the price dropped from 73.28 USD to 59 USD.
Price and market cap before Binance delisting announcemet
Bitcoin SV lost the market cap of 247,882,422 USD.
Price and market cap after Binance delisting announcemet
Bitcoin SV lost almost 20% of its price and 247 Million dollars in market cap just because of Binance delisting BSV. Crypto exchanges are now more dangerous than the banks. The price and market cap can fluctuate this much just because of one exchnage, if we don’t call it monopoly then i am not sure what we should we call it.
Here is the tweet of Binance:
— Binance (@binance) April 15, 2019
Most of the people in crypto are, just to earn some profit by trading but very few are because of its technolgy and vision. The bitcoin vision was to be a currency or better call it technology that no one can influence and can control. If people are really in crypto because of the Satoshi’s vision then they must understand, its a red sign for the decentralization. Tomorrow it may also happen if some exchnage delist Bitcoin and price goes down and people start selling it just because they don’t want any loss in their fiat.
If we really in the crypto because of its technology and the vision that Satoshi invented. We must not let an exchnage or any person influence the crypto. Crypto world needs to be mature and must understand that we are not in crypto just to earn profit but to change the traditional way.
We must be alreated from now and should not give control to someone who can harm our vision of decentralization.
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