@pumpolinsky@binance@cz_binance My man, please stop. Dont ask binance to list KASPA. They dont care about real projects. They only want profits. We dont need binance to be honest.
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No one wants defensive stocks:
Global defensive stocks are now just 17% of world market cap, near the lowest since the 2000 Dot-Com Bubble burst.
This percentage has fallen -7 points since the end of the 2022 bear market.
To put this differently, consumer staples, health care, and utilities have materially underperformed the broader market over the last few years.
This has been fueled by the outsized gains in the US technology sector.
A similar pattern occurred during the 1990s, while the opposite took place during the 2008 Financial Crisis, when global defensive stocks outperformed.
Defensive sectors are lagging.
BREAKING: Yonatan just spent the last two days in Abu Dhabi with the Solana/Mert’s team, Zcash crew and Ilya from NEAR – all of them geeking out hard over $KAS ’s DAG and brainstorming how to give it the spotlight it deserves.
Source. @KaspaBuilders
I’ve have been thinking a lot about what happened with the Binance Top 100 contest. Yonatan Sompolinsky (@hashdag ) Kaspa founder, was voted the number one independent researcher. @michaelsuttonil was voted the number three industry advocate. Both results came straight from the community, not from an exchange or a marketing machine.
Then Yonatan publicly said he would not attend the Binance event where the awards were going to be handed out. It was mostly a protest against exchanges listing silly meme coins while ignoring this century’s greatest advancements in internet speed digital money. Calling them out from going wayward from the original version of cryptocurrency.
This weekend Binance gave the trophy to the second place winner and never mentioned Yonatan at all.
There is a lot wrapped up in that moment.
Right after Yonatan’s protestpost, @Kaspa_Commons used a simple phrase in a post as an acknowledgment to the potential for Kaspa to find greater use cases outside Cryptoland and as a small dig at the exchange.
Nov. 7
Can you imagine?!
"Tokens backed by real multibillion dollar assets that actually have utility and generate revenues for decades."
@Kaspa_Commons can.
@KaspaKii can.
👋🏼Bye-nance, enjoy Cryptoland and your millions.
That simple tag, “Bye-nance”, seemed to resonate and a small rebellion started. Bye-nance was a direct message, a goodbye to Binance that encouraged others to step away.
After the award ceremony failed to mention Yonatan’s name, the community responded in force. That little pebble dropped in the pond was becoming a tsunami. A huge wave of Kaspians have been dropping the tag and deleting their accounts and Binance is clearly not thrilled about it. We have yet to verify this, but I heard that Binance approached @Kaspa_KEF reps to ask them to encourage the community to stand down. 🤣
But the bigger story is what this whole episode reveals.
First, the Kaspa community is one of the most engaged and passionate groups in the entire blockchain space. The voting proved it. The unified response after the snub proved it. People showed up for Yonatan because he has shown up for the principles that matter.
Second, this was a chance for crypto to take a stand again. Yonatan did. It reminded me that Bitcoin began as a protest against captured institutions. It was a push for self sovereignty, economic freedom, and independence from the usual gatekeepers. Over time, the space drifted. Memes, speculation, and exchange driven hype drowned out the deeper purpose.
Seeing the reaction this week makes it clear that a new wave of cypherpunks is rising again. Builders who care about research, engineering, and integrity. Researchers like Yonatan. Developers like Michael Sutton. And communities like Kaspa. People who want crypto and blockchain tech to mean something again.
Third, the whole thing exposed the true nature of some of these L1 exchanges and classic crypto in general. The incentives. The politics. The greed. The selective celebration. The silence when the results do not serve their interests. Many people are looking at that and deciding they are done.
So let us not waste this moment. What we just saw is a big opportunity. An opportunity to show the strength of our community. It is obvious. An opportunity to reintroduce a modern cypherpunk spirit. It is happening. An opportunity to shine a light on the difference between real builders, real solutions, and the bad actors inside the Cryptoland circus.
The original Bitcoin movement of protest was against real world finance and government control. It is interesting and ironic that Kaspa’s latest protest is against the dark side of Cryptoland itself.
Let us not waste this moment. And even though we are focused on one exchange and their actions, we need to turn our backs on the entire Cryptoland mindset.
Let us start here. Everyone, say it with me. 👋🏼 Bye-nance
@binance,
Thanks for including me in the top 100 blockchain people list, appreciate the signal!
I must decline the Dubai invite though. I do not wish to disrespect, but many of the award voters are avid kaspians who rooted for my kaspa status at least as much as for my research. Let them win or count me out.
Crypto has turned from a euphoric cypherpunk project to a house-friendly casino. You may not be the culprit, but as a top player you hold the lion’s share of the responsibility to correct this, and the October crash your USDe oracle glitch helped trigger adds to what needs to be addressed.
There are three classes of crypto, as @mert put it recently: commercial crypto, casino crypto, cypherpunk crypto. <<Binance should hold a privilege policy for the latter.>> A TBTF CEX should know better and play a different game with hardcore crypto projects.
When binance lists a green frog three weeks post its “launch” but skips a fair-launched-Nakamoto-Consensus-100ms-upgrade-ATH-top-20-the-only-nonbitcoin-marathon-mined project, this is not merely binance rationally calculating; it is also binance molding the market in a way that is alas misaligned with the roots of the movement.
You may feel that kaspa’s sovereign money thesis is boring – that bitcoin is already money and that implementing an internet-speed bitcoin is useless - fine. Wrong but fine. But what’s the thesis for the green frog?
Money is a classic chicken-and-egg product. It is a scam up until one moment before tipping point, “most of the value comes from the value that others place in it.” Considering your resources and influence, I think it's safe to say you can serve as both the egg and the chicken and make it worth your while to push sound attempts towards tipping point.
@cz_binance tweeted recently that “strong projects will be listed.” But binance is part of what defines "strong", it bears responsibility for the market’s compass and impulse and definition of strong. It is not a read-only entity.
Binance listing fees are legit, they are just unfit for category cypherpunk. Kaspa devs and early supporters fairly mined less than half what satoshi and hals mined. We don’t have a 20% ZEC-style founders’ reward or protocol-enforced dev fund; this is not a jab at ZEC and the wonderful @Zooko, who was crashing in my car on a late Thursday back in the low ZEC MC days – if somebody deserves to win it is zooko – but assuming binance is not taking a maxi bet, it should revisit its relationship with hardcore crypto.
We are here through bull and bear, ICOs NFTs XYZs; and we are the source of confidence that restores faith and capital inflow post meme-induced or CEX-induced crashes.
Please fix this.
Thanks again,
hashdag
cc @michaelsuttonil
Exhibit A: Binance Innovation Zone
Exhibit B: 10 bps Nakamoto Consensus