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VeChain X Node binding services closed; VET token swap begins

Gautham Kadri

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VeChain X Node binding services closed; VET token swap begins
Source: Pixabay

On 10th August, VeChain made an announcement on their official Twitter handle that X Node binding services would be closing since the team has initiated VET token swap. The team would no longer be accepting the ERC20 tokens that are being sent to the VeChainThor wallet. A request has been made to the users to read the manual before the swap begins.

VeChain Foundation's Tweet | Source: Twitter

VeChain Foundation’s Tweet | Source: Twitter

The manual provided by the VeChain Foundation to the users consists of an overview of what the VeChainThor wallet is, along with all the necessary and important abbreviations that users may not be familiar with.

It also explains all the steps that a client, holding X Nodes, can take to complete the VET token swap on their mobile application using their VeChain token swap service.  It further explains the process to the non X Node holders as well.

A Twitterati responds to this announcement stating:

“Now for the Rebirth of the Phoenix, we have fallen and now we will rise from the ashes!”

A Twitter reply from Blockchain Logistics, disapproved by saying:

“We are shocked amd disgusted by the behavior and greed of #vechain node-holders that dumped large quantities of our token and manipulated the charts for days just to get a few more #vechainthor. I believe I speak for all “VeChain veterans when I say GO TO HELL YOU GREEDY PIGS!”

The X Node series was launched by VeChain to make it easier during the conversion or swapping of tokens from VEN to VET. Being present on the blockchain, an X Node is essentially a point at which a particular update starts and ends.
Reports state that X Node differs from regular nodes on the blockchain in the sense that it provides special benefits for the early supporters of the VeChain platform.



Some of these benefits include:

  • More VeChain production than standard nodes
  • Early start of node maturity periods
  • Exclusive participation in VeChain Ecosystem ICO whitelists
  • Official designations to build and represent the community

Initially, when the announcement regarding the token swap was made, VeChain had requested its clients to transfer their token to a safe and well-established exchange platform. This would make it easier for the coin swap if it is present on a familiar exchange platform.





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Gautham Kadri is a full time content writer at AMB Crypto. His passion is for writing and interest towards the future of cryptocurrencies and blockchain technology. He does not hold any form of crypto currencies presently.

Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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