BITCOINs Secret Attack Is Underway by Binance!!

published on August 2, 2020

hey yo what is up with the new week with the growing number of subs the chico army and any newbie aka a viewer of the tube i'm the host tyler and i hope you're ready get your fill of this channel

Kind of like this guy's love for watermelon that guy's lost his rind you know how we pun it's time for chico crypto well we gotta dive into something i have

Noticed of which others haven't the breakdown of the bitcoin mining pool distribution checking out the most recent one for the hashrate over the past three days we can see a

Wide distribution with no one pool controlling more than 78 of the hash rate and seven different pools that control six point seven percent of the hash rate or above which if we switch to a scary

Time in 2014 when the network got close to that dreaded 51 control by a single pool we can see a lot less mining players thus that type of control was possible and shoot even in june of 2018 the hash

Rate was less distributed with one pool having nearly 25 a quarter of the hash rate alone so this is a good thing that distribution but other people are covering that what people

Aren't covering is who is sliding in with a massive jump in hashrate power the pool that just recently showed up to binance which now has 67 percent of the hash rate going through their pool and why is this scary well just over a

Year ago in may of 2019 something big happened one of the largest uncovered exchange hacks in recent times when hackers ran off with 7000 btc worth today over 64 million dollars

And the crazy part wasn't necessarily the hack but the aftermath from the ceo cz binance here's an ama he did right after the hack and he said some things that go fully against crypto and the bitcoin blockchain we are

Completely okay on the funding side it does hurt very much but um we are able to uh we are able to cover that so we do not need the funding help um other we have been working with other exchanges to

Uh block deposits from those hacked addresses um there is the other topic of do we want to issue a rollback on the bitcoin network because right now the 7000 btc

Is far higher than if we distribute that to miners it will be far higher than the what they got paid for the last few blocks um to be honest

We can actually do this probably within the next few days but there are concerns about if we do a rollback on uh bitcoin network at that scale it may have some negative consequences

Uh in terms of uh um credibility for destroying credibility for bitcoin so again the team's still deciding that and we're running through the numbers and checking everything um so i think um throughout this

Uh we will mean we will try to maintain very high transparency um and uh we will just uh and we we will solicit uh community help uh so the reorg is not idea that came from the community i actually did not know

That we could do we could do that um but uh there are uh serious consequences for doing that so um we are we will take that very cautiously um

So i think the biggest thing is i do want to beg people to um forgive us in terms of uh not being able to withdraw yes he wanted to do a bitcoin chain roll back by using the miners and paying them

From the stolen 7000 btc that they would recover and he says they could do it quick um to be honest we can actually do this probably within the next few days yep within a couple of days which the

Community rightfully so went into an uproar over and cezi tweeted this after speaking with various parties jeremy rubin a bitcoin core dev james prestwich

Core dev brandon cutis core dev at hasu fl a pseudonym for someone connected to derebit jihan wu the big bitcoin miner player in china still controlling a seat with bitmain

And others and we decided not to take the bitcoin re-org approach so they decided that they wouldn't ruin bitcoin like they had a call that they could do it or

Not do it which cz clearly said in the ama they could do and now one year later binance all of a sudden drops a mining pool that surges to the seventh largest pool

In just a couple of months since their launch and that pool is expected to grow as coindesk covered it late last week finance pool poised to grab more bitcoin hash rate in russia

And central asia and in the article it states binance is about to cut a deal with bit river the russian mining giant which could add up to one extra hash to binance's mining power making them even bigger than someone

Real suspicious the number six ranked pool okay x which cz and co-founder yi he would have reason to come for that spot of which ok x controls both cz and yi he are former

Employees of ok x and there was a major fallout with cz him getting fired which included the likes of roger vere lawsuits and the control of the domain btccom

And here is veer getting into a little squabble with star zoo ok coin founder and ok x's current ceo back during the heat of it i will go very slowly for you okay

Did you not understand my question can i speak first can i ask you already spoke the last several minutes and then i asked you that media and a second i can't i can't make it

I have time please i cannot understand why you and your friend see me sign the contract you can stop the contract anytime but the output point cannot stop it right and the three is a bitcoin level

That we want to stop at we just wanna be fine you stop paying we said we want to resign a new contract and place it illegally are so very slowly so number one you just called cece a liar when he said

That you approved the contract is that right you are calling cz a liar because cece said i love us i'm a liar i don't know the story between you

And indeed said that he showed you the contract and you knew that it was being signed are you lying or a cd line one of you is a liar except you are seizing first line

As you can see who was the man in the middle of it causing the problem cz binance who starr mentions many times is a friend of rogers which makes total sense today as roger is an angel investor in binancecom

So okay x versus binance yeah it got nasty due to a ton of allegations of mud slinging back and forth which star zoo made a reddit post over five years ago explaining the entire situation and cz's

Tenure at ok coin included the video evidence he spoke of with veer in the argument they had yeah literally a day later cz responded back

In 2015 but he deleted the post i wonder why well luckily someone archived it and we can see what he said he accused ok coin of running bots fake volumes fake proof of reserves

Insider trading bad financials and more which i'm not getting into the validity of any of this i just want to see the motive which we can get a clear look at by scrolling down in the comments of his deleted post

About the 14th top comment down there as a person who asked cz well can you explain this comment just seven months ago with a link to something while clicking on that it's another deleted post

By cz damn you i wonder what he said well luckily someone archived that too and what did he say just seven months before saying okay had fake reserves of bitcoin fake volume bots and insider trading

This hi this is cz from ok coin this type of conspiracy theory just two for the lack of better word creative warbots is equally creative trading is a completely different business than running an exchange

We leave trading to our clients on the topic of bots you can't simply create a bot that can move the market at ease and cost money to move the market and there are significant risks if the market moves against you

Anyone who understands trading will know this then lower down he says this lastly ok coin has passed the proof of reserve audit with the help of steven thomas and a link to the proof hmm seven months

Later once you and veer hooked up and something really shady went down now okay coin is doing what you said they weren't doing something smells super fishy about that now i want to show you the difference

Between star zoo and cz binance for one star has never spoke of trying a bitcoin reorg but to see which side is the most dirty you gotta look at tether usdt and we know who the big dominant players

Of tether are finance and huawei right now with finance having combined basically 2 billion usdt on their exchange alone and huawei having nearly 1 billion that's pretty much one third of the

Supply on two exchanges with binance making a strong majority of it now okay x is no saint either they don't hold nearly an amount as binance but going to their exchange volume breakdown it is a majority tether usdt but here's

Where the difference comes in april of last year just before the binance hack star tweeted this in response to saying it's great seeing usdt volumes grow on his exchange the industry needs to think about how to protect our customer

From the risk of usdt which again in 2018 he acknowledged that the community sees its problems tether and they are looking for solutions to mitigate risk if it does fail yes he understands the damn risk of the thing like anyone

Should in the industry but cz he will defend tether for example this clip with the crypto lark which i have showed many times and i will keep showing it i did want to ask you as well there's been a lot of accusations made

Against the guys over at tether how do you feel about that situation what are your thoughts on it uh my general feeling is that there's always more fun

In the community than there are positive things so and the thought is usually more usually more overreactive i did meet with the key guy from bitfinex in person a few day a couple of weeks ago and we

Did talk about this issue and there was a couple of other guys who i trust to a very high degree they said they have looked at the account so there's a difference i hope you all

Can see star zoo is even more of a bitcoin whale oh geez than cz and he admits there are risks and it's so funny to see cesi's buddy roger veer act the same way just four months ago announcing usdt

With launch on bitcoin cash so i don't want anyone saying i'm defending ok coin because i'm not i'm just showing that cz and binance put on a great masquerade of being builders here to help the space

But in reality they are tether addicts and want control of the crypto markets which is obviously seen by getting the idea in the head that they could reorg the bitcoin blockchain so it's worrisome to me

Bitcoin and crypto enthusiasts to see the entity that said they would like to reorg with tether pumping through their veins acquiring over six percent of the hash rate a year later after that statement

But maybe that's just me but what i'd like to wrap this episode off with is to highlight that binance's plan of playing regulatory hopscotch is running out of squares for them to jump into it's widely known binance doesn't have a

Physical home office they are globally distributed with a workforce all over the world that is what they say but you always need a home base no matter what as how is a company to get banking

Relationships or where's the ceos and founders to physically stay at we aren't in black mirror yet and they can't stay in the clouds well let's just see the hopscotch of countries they have

Played thus far wikipedia tells us their early days beginning in 2017 from the history the company was founded in china but moved its servers and headquarters

Out of china and into japan in advance of the chinese government ban on cryptocurrency trading in september 2017 by march 2018 the company had established offices

In taiwan yeah so in 2017 china announced an exchange ban so by nance they ran with their tail between their legs and ditched their home country here's the difference between binance and other chinese

Exchanges operating within the chinese borders back then those others they didn't run they stayed and followed orders for example this september 2017 techcrunch article china's three

Largest bitcoin exchanges will all stop offering local trading which were ok coin btc china and huawei so binance took a big risk and they ran to japan but just six months later after trying to set up

Shop japan kicked them out march of 2018 coindesk released this article japan warns finance exchange over licensing which hears the document from japan's

Top financial regulator the fsa with cz's name right there so kicked out of japan and they set up a temporary shop in taiwan and that is where wikipedia leaves off well we know here they tried to set up

Shop after this in malta i covered the whole debacle on many occasions with finance having ties to both the prime minister and president of malta who both have been ousted due to

Corruption which later in 2020 i got confirmation of when it was announced binance was not licensed to operate there that was in february only five months ago but just more

Recently binance got hit by another one another regulator the block they covered it brazil regulators block binance from offering derivatives in the country which we can confirm from the official

Government document they specifically are not allowing finance access to their citizens which isn't good because in december of last year just two months before this binance

Announced a fiat gateway for latin america and the blog post says the new platform for latin america will initially launch in argentina and brazil

And then just yesterday decrypt covered the big one binance is illegally operating in malaysia authorities claim an article's brief says binance is operating illegally in

Malaysia according to the malaysian securities commission this could make binance operators liable to up to a 23 million dollar fine or up to 10 years in prison or both it could have been blacklisted

Because binance recently added a ring it malaysian fiat crypto gateway just like they did in brazil just like they have been trying to do across the world stepping on regulator toes with no

Regard for the repercussions while the malaysian thing shows us things will get nasty for binance and their plan of having no physical home might not work

Out that 23 million dollar fine it needs to be paid by the binance company which will need to have a physical address for legality's sake where are you gonna go we will find out soon cheers viewers

I'll see you next time you

Related Videos

Hello the Republicans and welcome to another video of my cryptocurrency news series where I'm looking at the news that happened last week now today's 28...
What's up crypto gang welcome back to another episode if you guys are doing here we do a giveaway at the beginning of every single episode and today's w...
What's going on guys crypto jeremy here back with xrp video hope you guys have a fantastic day thank you guys so much for tuning in to another video and the...
What's up guys kevin cage here just wanted to do a quick market update on this monday so as we can see ada ada is down 11 today we noticed that it is coming...
Hello the Koopalings and welcome to another video in my cryptocurrency event overview series the aim of the series is to find any upcoming cryptocurrency events...
Ladies and gentlemen people of the internet welcome back to yet another episode of crypto over coffee hope you're doing well today and if you're new her...
Hey guys welcome back so first of all I want to start as usual by thanking everybody who's been liking subscribing and sharing my content you're helping...
Hi i'm brad garland house the ceo here at ripple it's an honor and really a privilege for us to be one of the founding members of the international asso...
Hello the cubicles and welcome to another video maker of the currency event over the series the aim of the series is to find any upcoming the currency events an...
I have to apologize to everybody because I've been promoting a company who only has their best interests at heart top salesmen best interests at heart and n...
It is Monday and you know what that means another episode of Krypto segments what's going out everybody it's your boy Krypto Bobby I hope you were havin...
What's going on everybody Alex back was another cryptocurrency video but today we're going to be talking about how to control yourself how to emotionall...
Hey guys welcome back first off I want to thank everyone who's been liking subscribing and sharing my content you guys rule and I appreciate all the constan...
Live from the USA hoping you get paid every day this stuff boasts a Bitcoin the crease though of creeped up is avoid BK and if you don't like me you must no...
Okay come down here boom that would be picture-perfect beautiful guys look at this we actually have this candle come down right on this line right here right ab...
Wow you guys are going to want to check this out guys as you may know Bitcoin has decreased a few hundred dollars as of about midnight last night we have some i...
What's going on guys crypto jeremy here back with xrp video hope you guys had a fantastic day thank you guys so much for tuning in to another video today&#3...
Hello tokens and welcome to another video nice update now today's third of June and I'm looking at news that happened from 28th of May until today I alw...
hello it's Brad Lori or blockchain Brad and today we're speaking exclusively with icon many of you know it you've known it for years and they'r...
People what's going on this an update on Tron all right so the market right now market cap is 431 billion we've got a Bitcoin dominance roughly 34 perce...