Read on Twitter
After #Bitcoin 
hitting $42K, we started getting a lot of noise (FUD) from regulators, mainstream media, institutions, no coiners even crypto exchange.
Obviously, FUD can be debunked and here are some resources for pleasure reading.
hitting $42K, we started getting a lot of noise (FUD) from regulators, mainstream media, institutions, no coiners even crypto exchange. Obviously, FUD can be debunked and here are some resources for pleasure reading.
1/ Self-hosted crypto wallet rule FUD- The imposition by FinCEN of this KYC rule will cause selling of #Bitcoin and cryptos.
Reality: The KYC rule is still under consultation and will be challenged in court, but President Biden has frozen it.
Reference: https://public-inspection.federalregister.gov/2020-28437.pdf
and cryptos.Reality: The KYC rule is still under consultation and will be challenged in court, but President Biden has frozen it.
Reference: https://public-inspection.federalregister.gov/2020-28437.pdf
2/ Mt. Gox FUD- Former Mt. Gox investors will be compensated for stolen #Bitcoin . An influx of $BTC into the market could impact prices.
Reality: There are no 150K $BTC being dumped on the market.
Reference: https://twitter.com/WhalePanda/status/1350421101256572928
. An influx of $BTC into the market could impact prices.Reality: There are no 150K $BTC being dumped on the market.
Reference: https://twitter.com/WhalePanda/status/1350421101256572928
3/ Tether FUD- $USDT (Tether) will be banned, exchanges and the price of #Bitcoin will collapse.
Reality: Even if $USDT is banned, it will be converted to other stable coins, $BTC and other cryptos. This is bullish for $BTC.
Reference: https://twitter.com/AllenAu11/status/1350850207949283328
will collapse.Reality: Even if $USDT is banned, it will be converted to other stable coins, $BTC and other cryptos. This is bullish for $BTC.
Reference: https://twitter.com/AllenAu11/status/1350850207949283328
4/ Lagarde and Yellen FUD- ECB's Lagarde said #Bitcoin needs global regulation. Yellen said cryptos are mainly used for illicit activities.
Reality: How can decentralized $BTC be regulated globally? Cash is the culprit for illicit activities.
Reference: https://twitter.com/yassineARK/status/1352288755869216771
needs global regulation. Yellen said cryptos are mainly used for illicit activities.Reality: How can decentralized $BTC be regulated globally? Cash is the culprit for illicit activities.
Reference: https://twitter.com/yassineARK/status/1352288755869216771
5/ Energy FUD- #Bitcoin mining is warming the world.
Reality: $BTC mining doesn't warm the word, but takes advantage of wasted energy and mainly powered by renewable energy.
Reference: https://twitter.com/C_Bendiksen/status/1068221424777814016
mining is warming the world.Reality: $BTC mining doesn't warm the word, but takes advantage of wasted energy and mainly powered by renewable energy.
Reference: https://twitter.com/C_Bendiksen/status/1068221424777814016
6/ Double spend FUD- #Bitcoin has a catastrophic flaw or the network is not secure.
Reality: BitMEX Research finding was misreported by media. There is no "double spend", but just a re-org in the $BTC blockchain, which is totally secure.
Reference: https://twitter.com/aantonop/status/1352258125932371968
has a catastrophic flaw or the network is not secure.Reality: BitMEX Research finding was misreported by media. There is no "double spend", but just a re-org in the $BTC blockchain, which is totally secure.
Reference: https://twitter.com/aantonop/status/1352258125932371968
