Bitcoin IS a stablecoin!
View this post on Hive: Bitcoin IS a stablecoin!
In mid-February 2020 Justin Sun acquired the shares in Steemit Inc and proceeded centralise the blockchain under his control, improperly using Steemit's founders stake (intended for development and decentralisation of the blockchain) and tricking exchanges into initially supporting his power grab.
After extensive efforts to resolve the dispute failed, the community revolted and formed a new, fully decentralised blockchain - Hive - without the pernicious influence of Justin Sun and his minions.
Because of Open Source licensing, Hive was legally able to duplicate all the code and content on Steem.
The vast majority of the community and decentralised applications and projects moved to Hive and Hive was listed on many cryptocurrency exchanges without having to pay the normal listing fees.
On 19 May 2020, a Steem hard fork (0.23) designed to steal the Steem from 65 accounts associated with creating Hive became public.
My position on this hard fork can be found here: https://peakd.com/hf23/@brianoflondon/letter-to-exchanges-do-not-run-steem-hard-fork-23-hf-0-23-0
This was the final straw for my involvement with Steem.
I will now post exclusively on Hive at https://peakd.com/@apshamilton/posts
All my old Steem content can also be found on Hive.
Something interesting happened on the way to the stablecoin party.
While traditional financial markets are in turmoil with FAANGS incl Amazon down 10% and gyrating all over the place, Bitcoin is like a rock, barely moving against $US but rising against other fiat.
I’ve been saying for a while that Crypto volatility is a sign of transition, not a permanent situation in need of rectification with “stablecoins”
Posted using Partiko iOS
Overly classic :)
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It is just consolidating before a move. Time will tell which way ;-)