CEO Pauses "Decentralized" Blockchain (BSC)

𝐆𝐄𝐓 𝐓𝐇𝐄 𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐂𝐎𝐔𝐑𝐒𝐄➜➜➜
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In this video, I discuss Binance CEO CZ pausing the Binance Smart Chain (BSC) in order to fight a hack.

This is yet another wonderful example of "decentralization theater," where a company issues a token (BNB) mostly in order to reward insiders and VC's, rather than to create a truly decentralized protocol.

If you have already chosen the path of centralized control, you might as well just use a centralized database, instead of a blockchain, unless you are motivated by dumping tokens on retail investors, without having to deal with lock-ups and IPOs.

When you look at the top 5 crypto by market cap, you see 2 centralized projects, 2 melting stablecoins, and then a completely unique asset like Bitcoin. Make sure you understand "what's in your wallet and why."

Bitcoin is the apex predator of money. Accept no substitutes.

Not investment advice! Consult a financial advisor.

Solana halts and outages:
https://www.coindesk.com/tech/2022/06/02/solana-halted-by-bug-linked-to-certain-cold-storage-transactions/
https://knoxreports.com/solana-sol-suffers-8th-network-outage-in-2022/

Warren Buffett quote about diversification:
https://www.brainyquote.com/photos_tr/en/w/warrenbuffett/173495/warrenbuffett1-2x.jpg

Binance CEO pauses BSC:
https://twitter.com/BNBCHAIN/status/1578148078636650496
https://twitter.com/cz_binance/status/1578171072067031042

Initial token allocations:
https://external-preview.redd.it/Im0-_KI9XiZcrcDuu_S0Gn1PDmYkwkuTQdnAZh3v6JY.png?auto=webp&s=3addf56c93746b65190bb5e17d5bfc20100acd90

Binance validators captcha meme:
https://twitter.com/ntembekoS/status/1573182486246739968/photo/1

Tether freezes USDT associated with the hack:
https://decrypt.co/111448/bnb-chain-resumes-activity-2-million-token-exploit

Top 5 crypto by market cap:
https://coinmarketcap.com/

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#bsc
#binance
#bitcoin

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