New PUMP Trend – Chain Migrations? Binance and BNB

by birtanpublished on October 1, 2020

today we're talking about finance and
chain migrations what does it actually
mean what the heck is going on right now
and a lot more what's going on everybody
it is your boy crypto Bobby I hope you
are having a great day great night
wherever you are watching or listening
in from and today's big discussion the
big buzz as well as really like one of
the more interesting things that's
happening in cryptocurrency right now is
by Nance is finance chain what happened
with mithril today and their chain
migration and the token price and then
just in general what is going on with
finance and the B&B coin because it's
really been one of the more incredible
things to witness any cryptocurrency
space but I definitely want to dive into
all that and more in a very balanced
approach because I think there are very
argumentative sides to both ends of the
spectrum and I want to like paint a
picture for each side of the house
without really giving you too much and
allowing you to draw your own
conclusions and then asking for feedback
at the end of this as well you're
enjoying this so far make sure to hit
that thumbs up button as we get into
this as well so if you're not aware by
Nance and B by Nance decks which is one
of the big things that Finance has been
working on lately has recently launched
and today a project a crypto project
mithril came out and tweeted about their
chain migration and right now currently
mithril is an ER c20 token which is on
the etherium network a majority of
tokens out there are er C 20 tokens and
what is occurring is mithril tweeted out
that they are migrating their token from
ER C 22 the bye Nance chain due to a
variety of benefits that they wanted to
talk about and as soon as they tweeted
about this the price of mithril went up
about 60 percent it is now still up over
40% pretty crazy to see pretty crazy to
think about but not only not only did
finance go up substantially but it was
also kind of advertised as well and it
was it was gonna bragged about on
Twitter I see from Finance and if we
love
you could see somebody talking about the
finance chain effect is here already and
cz says well guess how many projects
will queue up or the token migration now
and taking a step back looking at it you
have a variety of companies that are ERC
20 tokens that probably don't actually
utilize the etherium blockchain that
much other than utilizing in year c 20
token or token speculation and they are
now probably looking at this opportunity
with finance as a way to increase the
value of their token especially when you
have cz publicly saying on Twitter that
he you know Watson wants to court these
individuals to come to buy Nance and lis
by Nance chain and I think it's really
interesting because there is a pretty
big dichotomy in the space between cz
you have people that think he is the
best operator the most innovative
individual in the cryptocurrency space
the smartest CEO of the best most
innovative company and then you have
people that think he is a scam artist
and not exactly what he seems and the
owner of the biggest coin exchange
that got rich off of an ICO and took in
a bunch of non-dilutive funding the
answer is probably somewhere in between
and we'll look at a variety of factors
there but not only when we see the price
of mithril and what it's doing in the
fact that really is there any is there
60% is there a reason for a 60%
increased moving your token from the ERC
20 token to a finance chain probably not
but it's brought up a really interesting
debate because there are now people
asking know is this is this bad for
aetherium is this something that you
know aetherium should be really worried
about and shout out to Nathaniel
Whitmore at nlw on Twitter he posed this
question competition around token
migration is fascinating I'm interested
in the pulse of crypto Twitter here does
finance chain represent an existential
threat to aetherium the answer is there
were about 1,500 responses you had about
20% saying yes 43% saying no 17% said
threat but not existential and about 20%
said I'm I don't care whatever and the
way I look at it is I think it is a
threat in some respects but it's not an
X
essential threat and the reason that I
think it's not an incredibly massive
existential threat is because they're
very different and why do I think that
they're very different I I think there's
a certain element of centralization
around finance and obviously a focus on
cz and a centralized company and you're
looking at a decentralized blockchain
you have a very like you have a very
central figurehead behind it a lot of
people give aetherium all the time
because theorem has a Dear Leader a
theorem has metallic it has this bill
it's bad this bad person that yeah is is
there to kind of run the show and if you
think etherium is centralized like hello
welcome to you know welcome to what you
have going on with finance and the fact
that cz is way more centralized and kind
of way just way bigger and and more it's
it's just a more centralized thing that
in my opinion is it's an interesting
thing to keep an eye on but I don't
think the project's necessarily compare
and I don't think that they're totally
competitive in many respects but when we
look at what's happening with finance
it's really incredible B&B in a sense is
absolutely incredible why is it
incredible you look at a cryptocurrency
marketplace right now Bitcoin is down 74
percent from its all-time high 74
percent is a lot it is down 74 percent
from its all-time high you have other
crypto currencies you have a theorem is
down eighty-eight percent from its
all-time high guess how far by Nantz is
down from its all-time high B&B is down
from its all-time high it is down 2%
that's it 2% from its all-time high in
the heart of the 2017-2018 bull run out
of all the crypto currencies in the mid
to large cap on on chained FX that is by
far the best and it's interesting P as I
hear a lot of people talking in the you
know in telegram groups and even
suggesting to other projects like you
need to do a B and B's too and you need
to do what's easy does and what
fascinates me about that is finance
plays on a different playing field then
the majority of cryptocurrency projects
out there the regulations that they
planned are very different the
jurisdictions that they play under are
very different
because of that they can do certain
things especially us-based projects but
other jurisdictions as well they just
can't do that
finance specifically goes out of its way
or the benefit of token holders to
accrue value to the token a purposely CC
purposely talks about the value of their
token try to find a us-based project
that is a quote unquote utility token
that goes out of its way to talk about
increasing the value and tweets about
the value of their token you won't find
it because those or if you do find it
those individuals will be fined or they
will be in jail sooner rather than later
because if you look at everything that
the SEC is done with these us-based
projects every time that a u.s. project
gets in trouble it's because in their
white paper they were talking about
value accrual to their token or they
were talking about that and some social
media or something like that
that's one of the big things that people
get in trouble for is basically making
their token a a value capturing security
and people argue all the time that yes B
and B is an illegal security but I Nance
doesn't seem to care they just they
don't and because of that they're able
to accrue value to their token
artificially or not to the point where
it is now as valuable as it was in US
dollar terms as it was in 2017-2018
Bitcoin wise a BTC pair it is up way
higher than it was which is really
incredible to think about and it brings
up the point as a whole like a lot of
this does come down to CC and his
ability to take any situation and turn
it into a positive and whether or not
you like CC whether or not you think
finance is a massive coin Factory
and like all the stuff with IE OS and
all that type of thing
cz has constantly been able through the
history of Finance going from summer of
2017 till now in summer of 2017 it was a
twinkle in his eye well now when it is
really the biggest cryptocurrency
exchange out there has gone and taken
every single negative or potentially
negative impact negative event whether
it's been down times or just butt or
whatever it might be people scared about
security breaches whatever it might be
under Sabu basically meme meme adding
into existence he's done a variety of
things and if you even look at what
happened with the bsv scenario recently
where no Bitcoin Satoshi's vision came
out and that was an opportunity which I
thought was absolutely genius when you
look at point when you look at finance
it is one of the biggest let's say
coin factories out there it is it is the
biggest and because of that you would
think no Bitcoin Maximus will hate
finance will hate cz well how do you
kind of get the support of a Bitcoin
maximalist you go and you really stand
up for the Bitcoin Maximus or the
Bitcoin advocates that are fighting
against PSV that are standing up against
Craig right and the other folks out
there in the face of what are
potentially frivolous lawsuits and you
delist esv before anybody else has done
that you set the precedent and then you
leave all the other exchanges on their
heels because you've created so much
positive awareness to by Nance that you
have crack and listing polls about
should we do this you have all these
other companies following suit because
by Nance took a calculated risk because
cz takes these calculated risks over and
over and over and every friggin time
they pan out to their benefit it has
been incredible to watch how they
execute regardless of the fact whether
or not you think it is a potentially
legal security or there's some shady
elements you don't like about it it's
it's crazy to watch them just keep
winning and keep winning and keep
winning over and over and over again and
now it might be happening again with
this well financed chain in this Dex
migration it's it's nuts to watch but
it's something that is absolutely worth
keeping an eye on and I'd love to hear
your thoughts in the YouTube comments if
you're watching on youtube or hit me up
at crypto underscore Bobby on Twitter as
well if you're listening on the podcast
or you just like Twitter I would love to
hear your thoughts is bye Nance one of
the most innovative companies and this
is cz one of the most trustworthy people
out there or is it the opposite for you
do you think cz is a scam artist that's
playing the crypto community like a
fiddle and that the by Nance will
eventually be an illegal security and
the whole exchange will go down in
flames and all that stuff I would love
to hear your thoughts because
that you know helps me to just
understand where the community is at as
well but I hope you enjoy this video if
you liked it hit that thumbs up button
as always and if you are listening on
the podcast make sure to leave a rating
and a review thank you so much for your
time crypto bye be signing that hope you
have a good one pace

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