My heartfelt message to the #DigiByte & Global Crypto Community about the true state of Crypto & $DGB:
Dear $DGB & Crypto Community,
The beef between myself, CZ & Binance started in the fall of 2017, I will spare you the recap as you can read the detailed history in the 2nd tweet in the thread quoted below.
I came into Bitcoin in 2012 because I believed in the idea of decentralized money outside the control of any single person, entity or group. A truly free way for people to take charge of their own financial future and to change the way the world works for the better.
It has been 9+ years now since the day I created DGB in 2014 and now I find myself at a tough, gut checking cross roads. A cross roads everyone in all of crypto has arrived at, yet few of us will acknowledge or admit.
90% of all DGB trading activity, and the largest wallets in the world are controlled by a single exchange, run by a single person with dictatorial like control over not just $DGB markets & data, but almost every other crypto market on earth.
That same person & entity also owns and controls the most trafficked crypto data rankings website, Coinmarketcap. Between Binance exchange & Coinmarketcap CZ has the ability to manipulate & control the price, attention, data and rankings for every crypto market out there.
This is not the crypto world I signed up for or spent over a decade of my life trying to build. Its the total opposite. Binance has all of crypto by the balls, and he can squeeze any time he wants.
I find it absolutely disgusting how many supposed decentralization loving crypto "influencers" are attacking the SEC for calling out and trying to police a blatant criminal pump & dump platform that has been destroying crypto for years & operating outside any legal jurisdiction with impunity.
Yes I agree the SEC has created a regulatory nightmare, but why are so many people cheering & rooting for a complete monopoly in crypto run by people operating completely outside the law of any nation doing things that any normal person would of gone to jail for long ago. The truth is no Western citizen would ever have been able to operate the way CZ has.
Many of you only care about money & price going up, regardless of how that happens. That's very short sighted of you. Ask yourself a simple question, do you really think this technology will ever matter if a single entity ran by a single person controls 90% of everything? That's 10x worse than the legacy banking system we have today.
I have watched #DigiByte be actively suppressed the last 3 years through wash trading, crooked market making and the most untrue, unethical and deceitful crypto index rankings every created. DGB will never gain attention & widespread adoption as long as this activity continues, and every honest exchange trying to operate by the rules is regulated out of existence.
Its a tough pill to swallow, and only now after watching the reaction of the crypto media and most "influencers" (who are likely getting paid) do I realize how hard that truth pill is to swallow.
If the majority of people in crypto want a centralized king maker with total control of all crypto markets, then I don't want anything to do with "crypto."
Just know this, when the time comes for a Chinese or Western backed CBDC to be rolled out to the world with total authoritarian control, and they use a "regulated" Binance to do it, don't say you were not warned. The Binance ecosystem is the most obvious way for the banking elite to roll out a global CBDC.
The only way for crypto to successfully free humanity from the oppressive evil of centralized fiat currency is to embrace widespread adoption of truly decentralized exchanges or"DEX's" and to move away from centralized crypto exchange king makers. And I mean actually, really, truly, completely decentralized exchanges, not the majority of so called DEXs run by a wolves in sheep's clothing.
Which path forward will you chose?