Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

Coverage:
- Decrypt.io: Steem network to seize $5 million from its own users
- SteemPeak.com: Official Announcement by @softfork22888
- GitHub.com: view steemd HF23 changes

What you can do:
- Send exchanges a notice of the pending class action lawsuit.
- Switch to HIVE, the community-led fork. Visit Hive.blog and Hiveblocks.com.

BTC - Keep calm and HODL on by jrcornel

View this thread on steempeak.com
· @jrcornel ·
$7.91
BTC - Keep calm and HODL on
https://i.postimg.cc/yNWRkT9b/shutterstock-703031917-gold-bitcoin.jpg

# As this crisis continues, bitcoin will eventually become a store of value again

Is bitcoin currently acting like a store of value, well no not really.

It lost 50% of its value in a matter of days, then it rallied some 50% in a matter of a couple more days.

Not the kind of volatility most would associate with a store of value.

However, I think the drop needs some context...

Based on what we are learning now, that big drop was likely the result of some shady things happening on Bitmex.

Bitmex is the largest derivatives market in all of crypto.

They offer up to 100x leverage and the volume they do is big.

Anyways, the big drop can mostly be traced back to massive liquidations taking place at Bitmex.

Bitcoin would liquidate large positions, fall lower, liquidate more large positions, fall lower, and it kept doing that all the way down.

According to Bitmex it looks like there was some sort of attack that was orchestrated by a sleeper that had been waiting to orchestrate this sort of water fall event for months.

Had Bitmex not shut down briefly, the price of bitcoin may have continued to fall all the way to zero, at least according to some.

Anyways, if that had never happened on Bitmex perhaps bitcoin would still be trading around $8k today and would very much be acting like a store of value in this risk off environment.

Given how poorly gold as well as everything else has also performed, I am not holding my breath.

That being said, I do still think that bitcoin will start performing better as we move forward.

The speculators are now out.

The stimulus plans are in full swing.

More and more money is being printed to keep everything afloat.

Once that money starts to make its way into the economy, bitcoin goes up.

Also, once we get through this, people will be looking for places to put their money back to work.

Bitcoin is in a good position for that as well.

I think it will look something like 2008-2010.

Initially gold and silver sold off with everything else as only the dollar went up.

However, as the bailouts rolled out, eventually gold and silver went on a massive run.

I fully expect something like to happen again this time around, bitcoin included.

Oh and there is that halving thing now less than 2 months away.

Stay informed my friends.

Image Source:

https://bitcoinist.com/bitcoin-as-a-store-of-value-could-be-worth-40k-within-the-next-decade-says-matt-hougan/

-Doc
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 148 others
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vote details (212)
@cheetah ·
$0.27
Hi! Did you know that steemit.com is now censoring users and posts based on their opinions?
 All the posts of these users are gone!
https://github.com/steemit/condenser/commit/3394af78127bdd8d037c2d49983b7b9491397296 

 Here's a list of some banned users:
```'roelandp', 'blocktrades', 'anyx', 'ausbitbank', 'gtg', 'themarkymark', 'lukestokes.mhth', 'netuoso', 'innerhive'```
See anyone you recognize? There could be more, they also have a remote IP ban list.

Will you be censored next?
👍  
👎  
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@sanjeevm ·
Is this an automated comment ?
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@shortsegments ·
I agree with you that there are a lot of things creating selling pressure on Bitcoin right now. These futures contracts and other leveraged investments are worse then the MakerDao and Ethereum and will continue to be sources of volatility and selling pressure for sometime. Many, People are gamblers and now these vehicles allow them to gamble on Bitcoin, much to the detriment of price stability. 

There is an article in Forbes magazine which suggests that there are a lot of new traders in Bitcoin this year, who invested through traditional channels and that the majority of Bitcoin sold was from new owners ; defined as one month to one year, with a large number of coins held for 30 days or less who sold at the first drop. Bitcoins volatility is new to many institutional and traditional traders, so we can expect this type of selling pressure to wax and wane. I see it as a buying opportunity for a percentage of my disposable income. 

Thanks for the information, good info is like gold. 

✍️ Shortsegments

Posted via <a href="https://steemleo.com/">Steemleo</a>
👍  
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