Even though the Craig Wright-Calvin Ayre fiasco hasn’t quite ended, crypto Twitter has found itself in another mess which has put the ethos of cryptocurrency and Twitters ToS at stake. The user of “@Bitcoin”, a Twitter account that represents Bitcoin, is at the centre of this mess.
The @Bitcoin account was allegedly found promoting/shilling Bitcoin Cash according to some users, including Peter McCormack, Whale Panda, and Jimmy Song, among others, which didn’t sit well with others. Jack Dorsey, a Bitcoin supporter and the CEO of Twitter, might be inclined to suspend/ban the account yet again as people are alleging that the account was sold, which goes against Twitter’s ToS [Terms of Service].
The screen grab below shows the reply from Twitter CEO on the same:
This has divided the crypto community into people who are against @Bitcoin and people who support him/her/them. The people who support the handle believe that the account wasn’t “sold” and that suspending/banning it would amount to censorship.
Peter McCormack and others expressed their opinion on this matter through their tweets.
1. You’re a moron because you keep misrepresenting things I’ve said. I’ve never said it will never have 1 billion users, I said I don’t think it will have 1 billion users in 25 years.
— Dr. Peter McCormack (@PeterMcCormack) April 21, 2019
Whale Panda also stated:
“The @Bitcoin twitter account should be suspended like the @internet account.
The account was sold which is against ToS.
The account is actively involved with defrauding people. It really is that simple.”
However, @Bitcoin expressed its opinion as well and tweeted:
Last week: "How dare people resort to strong-arm tactics to silence @hodlonaut? This is against the spirit of crypto!"
— Bitcoin (@Bitcoin) April 20, 2019
He also added:
“Unlike most “Bitcoin” accounts, I exclusively tweet about the two most popular versions of Bitcoin, BTC & BCH. I categorically ignore “crypto”, “blockchain tech,” and ICOs. People aren’t mad at me because I don’t tweet about Bitcoin, they’re mad because I say the wrong things.”
This has caused the supporters of @Bitcoin to start a hashtag “WeAreAllBitcoin”, much like the hashtag started in support of Hodlonaut “WeAreAllHodlonaut”. The decision from Twitter has not yet been announced, however, Jimmy Song’s poll on the matter showed that 55% of the users voted to suspend the account in question.
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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