Feb 10, 2020 20:00 UTC
Feb 10, 2020 at 20:00 UTC
When we see technology as a whole, there are two major things that define the future of it. One is the practicality of the technology and the second and the most important one, credibility. A minute bump in the credibility aspect will greatly influence the technology’s growth and with repetitive blows, the future jumps into doubtful waters.
Cryptocurrency, the modern development for the modern man:
There are a lot of technologies that pop out in modern-day to make the life of man easier and one of them is certainly cryptocurrency. Even if the technology seems promising and seems to be adhering to the customs of financial management, a lot of troubled defamations continuously taunts the concept.
One such revelation which is kind of making a huge impact is the recent tweet by a crypto whale who possibly took to twitter to spread awareness on the credibility of blockchain transactions.
According to them nearly close to 94% of the tradings that are carried out in the blockchain market are not backed up by credible resources. To put it in layman’s terms, most of them are fake. According to them, it is believed that a new enthusiast in the blockchain field can fall into the traps of such organizations and tradings.
The prominent whale of the Bitfinex network who always is one the top leaderboards said on twitter that half of the crypto world that we see and perceive is run by something called Phantom money. He says that there are a numerous amount of scams that are crawling in the space. Within no time when people would require to withdraw all that they had gained through the blockchain network, there is a high rate of finding no one on the other side of the screen. This very tweet from the whale (@J0E007) sent out reverberating shockwaves in the community.
The Doubt is stirring up:
Many are still baffled on whether they are in the right hands with regard to their investments and they state that with a lot more such rumors popping up on the scale, the number of people who want to venture more into space would drastically reduce and eventually stop.
There are also speculations that the whale had previously spread that caught up like wildfire. But the point conveyed is sure something that needs to be thought upon.
This means that before you verge down into deeper ventures, it is better to know the exact behavior of the climate before jumping into a decision with regard to blockchain.