Bitcoin-pegged token BTCB will soon launch on Binance Chain

Bruno's message

Focus everyone:
When Oyster boomed in December I wanted to go on a huge hiring spree. I was always very product focused but people only wanted to hear about marketing. Chris Bamber approached me along with Bill. Bill turned out to be an honest and hardworking guy (as CFO), but Chris did next to nothing. I paid each member of c-suite 1 million PRL each which was evaluated at half a million dollars each.
Chris bailed on us for the exponential hiring. Why was I so pushy about hiring? Because I knew Bitcoin and all of crypto was in a bubble. I sold a lot of my own PRL and PRL for the treasury but Bill preached hesitation instead.
Then ETH went from $1200 to $200. It became difficult to keep hiring people, my plan for a large robust team of developers was blocked. I spent downtime to start healing from trauma I was going through.
Then Bill told the group that we got accepted on Binance. That’s when the problems started. The price immediately started pumping from 4c to 26c. I warned Bill against insider trading, he didn’t care. So instead of him and his VC friends dumping on you, I dumped on him.
I advise all of you to get out of crypto. Go educate yourselves about what is happening with Tether. The entire crypto sphere is a giant Ponzi scheme. I warned all of you, multiple times, in private and public, and nobody listens. Ethereum is going back to $5, if you want to sell back to a greater fool then you will only find yourself to be that fool.
What will now happen:
  1. Bill, you’re fired.
  2. I am going to program the protocol on my own, gradually. If someone wants to help me they can do so free of charge. No marketing, no nonsense.
  3. PRL will still be the valid token used by the protocol (no contract swap).
  4. I reject the Binance listing and I don’t want Kucoin to re-activate our listings.
  5. Focus on the storage peg, that is what brings value to the token, not your Ponzi-Shenanigans.
If you want to buy only to sell to a greater fool, then you are that greater fool. PRL and SHL are not to be listed on an exchange until they are actual functioning products. I will also consider revealing my identity over the next few days. I will be posting updates on development after I straighten out this situation.
I am now going to dump as many chat logs as I can to show what happened with Oyster.
If you want to play greater-fool games with Bill and co, and there is an overwhelming vote in support for Oyster becoming a permaponzi, then I will leave you all to have fun with it.
If you want PRL to operate as I've described in the whitepaper, everyone is fired and I will slowly but surely work on the protocol and post progress publicly. The last time I hired a bunch of people and threw money at them they turned it into a circus.
However, I don't believe there will be electricity running through the power grid soon. I sent this video and others like it a long time ago to this chat:
Go learn about peak oil and the fractional reserve banking system. The stock shale bubble is an obfuscated means to subsidize the price of oil. In Brazil, Indonesia, and other developing nations, the price of oil is subsidized with debt directly by the government. When the debt bubble pops, the price of oil will skyrocket, trucks won't be bringing produce into your city let alone computers won't be spending energy to secure the blockchain.
I believe in Oyster as a product, but I don't believe there will be a future to host it. I will program it since the program is a promise from me, but don't complain that Oyster isn't running when a banana costs $5,000.
Anyone here who has swiped a credit card or taken an interest-bearing loan has the blood of the incoming collapse on their hands. Billions of people will die, there are massive droughts and food shortages as we speak. I've made a lot of dollars by selling PRL, I immediatelly ditched the dollars to buy real things so that I can protect myself and my family from the collapse. That's all I ever wanted, and now that I have that secured, I will deliver the protocol which I promised myself. Give me some time to get my head straight after these dramatic few days, I will gradually post progress on github.
You can also buy popcorn futures on /buttcoin.
submitted by thehugeshort to Oyster [link] [comments]

The Essence of Stablecoins

The Essence of Stablecoins
Cryptocurrencies were originally envisioned as a decentralized payment means, independent of fiat money rates and not tied to traditional valuable assets.
This peculiarity adds cryptocurrencies a characteristic feature — high volatility of the rate. Many folks gain thanks to this feature, but the possibility that the rate can dramatically drop or leap hinders the usage of cryptocurrency as a full-fledge payment means.
In order to regulate the rate, it was decided to tie up cryptocurrencies to stable assets that have long been established in the economy. Thus, they began to tie up the value of cryptocurrency to fiat money, gold and oil. Digital currencies can be tied up to any valuable asset or commodity which can make their value more stable.
Cryptocurrencies pegged to physical assets have a lower rate volatility and became known as stablecoins. Stablecoins are a compromise between fiat money and cryptocurrencies.
Most often, the value of a stablecoin is pegged to fiat money. The value of these coins is equal to that of fiat currency and represents a sort of a promissory note. Every coin is leveraged to one unit of fiat money, for instance, dollar, which acts as a guarantee and provides for the value of the currency.
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We will briefly tell about the most popular stablecoins:
Tether (USDT) is the most famous stablecoin, and it is represented in the majority of exchanges. However, Tether Limited company which belong to Bitfinex crypto exchange, has regular problems with its audit. The main discontent is about issuing a colossal amount of USDT (equivalent to hundreds of millions of dollars) during the periods of bitcoin pumps. Anyway, the coin is stable and for the last 2 years it has been traded within the range of 0,96$ — 1,06$.
USD Coin (USDC) was created with the participation of the company that bought Poloniex crypto exchange in 2018. This is a classic stablecoin which is backed by dollar equivalent in relation of 1 to 1. The proof of the project’s transparency is its monthly audits performed by an independent party.
TrueUSD (TUSD) is a coin which is also backed by US dollar in relation of 1 to 1. Financial flows are regulated by trust companies, while the developers do not have access to accounts. TUSD is created on Ethereum platform, the work system is based on smart contracts. Reports are published monthly and they prove correspondence between issued coins are real funs in the company’s accounts.
Paxos Standard Token (PAX) is a stablecoin approved by Department of Financial Services of New York. It is backed by dollar equivalent in the relation of 1 to 1. PAX is also developed on Ethereum platform. We have recently added this token to our monitoring
Dai (DAI) is an unusual stable coin. Its value is backed not by an account with an equivalent amount in US dollars, but by a system of guarantees from several famous and specially created cryptocurrencies. Its advantage is decentralization.
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It’s worth noting that Binance exchange, a leader by the trade volume, is going to issue its own stable coins within the coming two months. The management of the exchange says they are planning to launch stablecoins pegged to various currencies. According to them, from the user’s point of view, dollar is used only in several parts of the world, while other users use different currencies. They think that this must be reflected in their stablecoins
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What do you think about the future of new stablecoins from Binance and how would they influence today’s leader Tether?
submitted by bestchange_pr to bestchange [link] [comments]

Binance Has Been Hacked BREAKING: Binance hacked! 7000 BTC stolen... Binance Margin Trading Wrecks Bitcoin's Price and Ethereum To Adopt Bitcoin Cash #Binance Launching New #Crypto Asset Pegged to #XRP Update!!! Tether launches gold and oil backed Stablecoin Rushing To Buy Bitcoin, Binance Vs Ethereum, Libra Kitties, Bitcoin DeFi & BTC Oil Company Binance Reveals Visa Debit Card in Push to Bring Bitcoin (BTC) and Crypto Payments Worldwide

Binance, one of the largest cryptocurrency exchanges by volume, is issuing a bitcoin-backed token, the firm announced in a blog post on Monday.The post Binance launches bitcoin-pegged token on ... Bitcoin is not a native asset of the Binance Chain, this is why the coin needed to be pegged to a specifically created token on the Binance blockchain. The company expects the liquidity and trading volume on the DEX to increase as new trading pairs are added on the platform. Popular cryptocurrency exchange Binance has announced it will be launching a Bitcoin-pegged token to be released on Binance Chain. The news was announced in a recent Binance blog post which ... As per the announcement, the newly-released BEP2 token will probably be exchanged on Binance and are also around on its own de-centralized counter-part Binance DEX. What’s more, this advantage is just one among a streak of cryptocurrency-pegged tokens that the business plans to release Binance Chain. The article says that BTCB are 100% supported by […] Binance desires to have more cryptocurrencies transitioning to its Binance Chain protocol. One of the initial tokens will be a Bitcoin-pegged token that will have the symbol BTCB in a few days ... Binance is planning to launch new types of tokens with values pegged to Bitcoin (BTC), and in the future, to other leading coins. The reason for pegging assets to other coins is the need to trade ... Binance’s Token Issuance & Listings page said on October 17 that the platform was preparing “to list BCH-1FD, a pegged token that tracks the value of the native asset of the Bitcoin Cash ...

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Binance Has Been Hacked

#Binance Reveals Visa Debit Card in Push to Bring #Bitcoin (BTC) and #Crypto Payments Worldwide Narrated by The Cryptocurrency Portal on Sat. March 28th, 2020 👌If you like this content, please ... Binance Margin Trading Live 1:38:50 The Trump Dump Professional Mentors, Exclusive Signals and Setups, Custom Indicators & Strategies, Educational Material, and much more. #Binance Launching New #Crypto Asset Pegged to #XRP Narrated by The Cryptocurrency Portal on Friday Oct. 4th, 2019 If you like this content, please consider subscribing to our channel: https://www ... Update!!! Tether launches gold and oil backed Stablecoin ----- Check out my other crypto channels: My other channels and subscrib... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) Computer I Use To ... $1.75 BILLION in Crypto Stolen Bitcoin Pegged ETH Token Binance Adds Visa + Mastercard - Duration: 5:54. BTC Sessions 992 views. 5:54. Language: English Location: United States ... Binance Has Been Hacked Jumping on live to discuss what is going on with the Binance Bitcoin Hack! #Binance #Bitcoin #Hack. Firstly, thanks for watching I appreciate your support!