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OKx. A Conduit For BSV Price Suppression?

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An Urgent Request for the Bitcoin Association

The person above with over 200,000 followers, also shills for OKx which is the self-proclaimed #1 trading volume provider for #BSV.  Binance + OKx.  It is always the lower level guys who unwittingly produce the poker tell as to what’s going on in the game. I would not be surprised to find Binance being close to 100% of OKex’s REAL liquidity.

BSV must be delisted from OKex or BSV will remain manipulated down (\and subsequently starved for startup capital as a result.  Bitcoin Association must be immediately demanding the following:

  1. How can BSV trade $10-25mm per day?  I know billionaires who own large sums of BSV, and they do not trade it. They probably haven’t touched it in over a year. 
  2. How much order liquidity is sent to Binance? Binance was a liquidity provider for everyone from Genesis to Gemini (who sources trades to Genesis). 
  3. The Bitcoin Association should know all BSV products on OKex— derivatives and the rules for those derivatives. Simple things like the amount of leverage given to customers, and OKex should be asked what KYC/AML info they have in detail.  If the responses are insufficient, then OKex should be asked to delist BSV.

Asking shady exchanges to delist BSV is not a negative— it’s a positive in two ways:

1) Price manipulation is bad for everyone in the ecosystem.  Fair market swings are good in both directions— healthy as downward price swings eliminate fescue (like the benefits of natural forest fires) and crazy upward swings reward innovators with quick capital. 

2). GOOD lawful acting partners are rewarded with more business and attention. The market will solve problems if there is some. If the market is sending its liquidity to CZ/Binance through OKex, Huobi, BitFinex, Genesis and Robinhood/Citadel then BA rewards the enemy and hands over ammunition to depress bitcoin further. Craig’s legal opposition is better financed. No one would’ve even TAKEN Ira Kleiman’s case and even $143mm wouldn’t be in jeopardy of being wasted.

$143mm is a win, but that money would be much better deployed in BSV startups making cool products.  

Instead, we have been seeing the Bitcoin Association signing up new exchanges – about whom they aren’t able to answer even the most basic questions. (like who owns the exchange). BA should not work with unknown exchanges— it counters the message of lawfulness they have worked so hard to explain. 

The number of exchanges which trade BSV is not a metric and new exchanges aren’t celebratory events, unless the backers are at least attempting to make a fair exchange.

Who wants to say they “signed” the next EnronOnline (which was replaced by ICE when Enron exploited their own customers). 

BA is the de facto issuer of the commodity Bitcoin.  It is time that BA takes control; price matters.

Price throughout history has attracted speculative capital which accelerates innovation.  The other digital tokens, as fraudulent as they are, innovate.

Not caring about price has allowed a handful of good fundamental analysts to invest in bitcoin— namely Neil Smith, indirectly myself, and few others.

Speculation has an ugly side but it is good. It is how “trial and error” happens quickly— even our hero Thomas Edison used trial and error when lacking any other intelligent shortcuts.  Markets are the same – I unable to list any tech revolutions which have not produced loads of bankruptcies and waste. Railroads, mainframes, internet companies, online gaming and even beer companies all had plenty of speculative failure.   BSV has had almost none. When it did jump to $400 in early 2000 and Spring 2021 capital came out of nowhere.  And then watched it evaporate.

In a perfect world that doesn’t happen. Why? Because people stand by their convictions. But finance isn’t perfect— like any industry it’s filled with copycats, Johnny-come-latelies, and nutjobs with too much money & very little morals.

OKex needs real vetting and most likely needs to be asked, encouraged and/or publicly shamed into delisting Bitcoin SV,for the good of bitcoin,

for the good of the people who use bitcoin and deserve a fairly-determined commodity price, an so we all don’t have to wait another 15 years to unlock the benefits of bitcoin.  (I would like to see BSV catch fire before we’re all dead of old age).

Regulation is nice and all- but it takes forever.  Markets are MUCH faster because markets rely on incomplete information while regulators must wait for all the facts. 

In poker it is not only necessary to assemble facts, but also necessary to rely on intuition and market participants. They all have the facts which is now plainly obvious.

Bitcoin scales and CSW = SN. 

Reiterating these things and further proving them will not accomplish anything as markets must see that others are coming to the same conclusion for reassurance.  No sane person wants to invest in a market which is starved of capital. That is the opposite of how VC benefits mankind.