Bobby Lee will be answering questions here on Sunday, April 12, at 5PM PST.
Bobby is the Founder and CEO of Ballet, a new company that makes physical, non-electronic cryptocurrency wallets designed for the mainstream market (https://www.balletcrypto.com
). Many of you know him as the co-founder and former CEO of China's first Bitcoin exchange, BTC China, which he sold in 2018, and physical bitcoin maker BTCC Mint. Bobby was ranked #20 on the CoinTelegraph 2020 list of most influential people in crypto/blockchain (https://cointelegraph.com/top-people-in-crypto-and-blockchain/bobby-lee
Please submit your questions now and vote for the ones you want to be answered. The top five questions will get a free Ballet wallet loaded with 0.01 BTC.
Some suggested topics of discussion are:
- the effect of the global pandemic on Bitcoin
- the Bitcoin halving and price predictions
- his new startup (Ballet) and its mission to promote global mainstream adoption of Bitcoin
- technical details of Ballet wallets and response to common criticisms
- anything else you want to talk about
If you're new, maybe you've figured out already that there is a lot of data and opinions surfacing the internet. A lot of people appear to be experts. I remember a time when I could still read most, if not all, of the news articles available. Now I can't keep up.
We have information from experts, both for and against cryptocurrency. Cryptocurrency itself is not easy to understand. It takes time and research to trust sources or reliable information. The internet is spammed with "The best crypto currency to invest in (now)!" And even harder- not all of these coins are scams! Some are. Some aren't. But, much like the dot com bubble, they are not all likely to sustain.
Here are my best tips:
- Research the market. Coingecko.com is a good source. It ranks coins by the most important data analytics. (More than hype, more than market cap/price)
- Research the best way to secure your assets. Hacking is very real.
- Ideas for step 1
-Find partnerships/similarities to determine probability. Coinbase for instance? Who are they partnered with where Bitcoin is accepted, but say Litecoin/Etherium aren't. Since Coinbase has Bitcoin, Litecoin, Etherium, we have probable cause for the other two working with the same company in the future.
-Learn of upcoming projects. For instance, what are Atomic Swaps? And what coins will have this capacity?
-Get a twitter account. Follow the developers themselves, not just the coin. Some of the developers have maybe 1500 followers and that's all. But maybe the actual coin has 60,000-100,000, say. Follow some of the early investors. I like CryptoHedge, Charlie Lee, Bobby Lee, Jameson Lopp, Coinbase, Etc.
-Print out a list of all the coins and begin highlighting the ones that make you curious. Begin crossing out the ones you're not interested in. Limit your finds to 15 coins or so. Begin researching them. (Again, coingecko.com is great for this.)
-Hold or as we say "hodl". Don't panic sell. If you researched it, you can feel good. Then if you want to buy more, buy more of the coin that may be currently frustrating you (while it's on a dip). Don't chase the coin you don't currently hold while it's up. If you missed it in your research, you missed it.
DISCLOSURE: I'm not a financial advisor. This is my opinion. I'm a holder of Bitcoin, Litecoin, Vertcoin, NEO, Sia and Ripple. Do your own research to make the best decision for you.
*Open Bazaar was crossed-out after their S2X support retraction, see edit at bottom. These guys submitted by
have deep pockets, but as you will see below, they are funded by even deeper pockets.
We can't leave this to chance or "the markets to decide" when there is such a malicious intent to manipulate the markets by those powerful players. So that's why all the people saying: "Don't worry, S2X won't happen" or "S2X is DOA" need to stop, we are at a 'make-or-break' moment for Bitcoin. It's very dumb to underestimate them. If you don't know yet who those malicious players are, read below:
We need to keep exposing them everywhere. Using Garzik as a pawn now, after they failed when they bought Hearn and Andresen (Here are the corrupted former 'good guys'), they are using the old and effective 'Problem-Reaction-Solution' combined with the 'Divide & Conquer' strategies to try to hijack Bitcoin. Well, effective before the current social media era, in which hidden motives can be brought to the light of day to be exposed.
Public pressure works when your profits depend on your reputation. The social media criticism worked for companies like Open Bazaar, which after weeks of calling them out on their S2X support, they finally withdrew it
Please contact the companies on these lists if you have any type of relationship with them, we have just a few days left until the fork:
Regarding OpenBazaar: * openbazaar (OB1) developer appears to be spreading pro s2x fud. someone needs to fork their project * PSA : Open Bazaars latest investment round was for 200K from Barry Silberts DCG (Digital Currency Group)
(See edit at the bottom)
B2X (S2X/NYA) is nothing more than an open attack on Bitcoin, not an "upgrade" as they want to sell it. This attack has no 'consensus', at all. It was "agreed" by a bunch of miners and corporations behind closed doors, with no community nor developers support. Only miners and a few millionaires that stand to profit from the B2X attack support it. The vast majority of the Bitcoin community is totally against this attack on Bitcoin. Most of those companies are under DCG group:
Every bitcoiner should know about what DCG (Digital Currency Group) is, and call out publicly these crooks and the people they bribed that are working for the Corporations/Bankers against Bitcoin:
Brian Armstrong, Winklevoss brothers, Bobby Lee, Peter Smith, Nic Cary, Haipo Yang, Rick Falkvinge, Jon Matonis, Wences Casares, Tony Gallippi, Mike Belshe, Ryan X Charles,
Brian Hoffman/Sam Patterson/Chris Pacia (and all OB1 team)(see edit at the bottom), Gavin Andresen, Jeff Garzik, Mike Hearn, Roger Ver, Jihan Wu, John Mcaffe, Craig Wright, Barry Silbert, Larry Summers, Blythe Masters, Stephen Pair, Erik Voorhees, Vinny Lingham, Olivier Janssens, Jeremy Allaire, Peter Vessenes, Bruce Wagner, Brock Pierce, Aaron Voisine/Adam Traidman/Aaron Lasher (Breadwallet team), Glenn Hutchins (Federal Reserve Board of Directors), Bill Barhydt and Jiang Zhuoer.
Once people are informed, they won't be fooled (like all the poor guys at btc) and will follow Bitcoin instead of the S2X or Bcash or any other centralized altcoin they come up with disguised as Bitcoin.
DCG (Digital Currency Group) is the company spearheading the Segwit2x movement. The CEO of DCG is Barry Silbert, a former investment banker, and Mastercard is an investor in DCG.
Let's have a look at the people that control DCG: http://dcg.co/who-we-are/
Three board members are listed, and one Board "Advisor." Three of the four Members/advisors are particularly interesting: Glenn Hutchins
: Former Advisor to President Clinton. Hutchins sits on the board of The Federal Reserve Bank of New York, where he was reelected as a Class B director for a three-year term ending December 31, 2018. Yes, you read that correctly, currently sitting board member of the Federal Reserve Bank of New York. Barry Silbert
: CEO of DCG (Digital Currency Group, funded by Mastercard) who is also an Ex investment Banker at (Houlihan Lokey)
And then there's the "Board Advisor," Lawrence H. Summers:
"Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act." https://en.wikipedia.org/wiki/Lawrence_Summers Blythe Masters:
Former executive at JPMorgan Chase. She is currently the CEO of Digital Asset Holdings, a financial technology firm developing distributed ledger technology for wholesale financial services. Masters is widely credited as the creator of the credit default swap as a financial instrument. She is also Chairman of the Governing Board of the Linux Foundation’s open source Hyperledger Project, member of the International Advisory Board of Santander Group, and Advisory Board Member of the US Chamber of Digital Commerce. https://en.wikipedia.org/wiki/Blythe_Masters
Seriously....The segwit2x deal is being pushed through by a Company funded by Mastercard, Whose CEO Barry Silbert is ex investment banker, and the Board Members of DCG include a currently sitting member of the Board of the Federal Reserve Bank of New York, and the Ex chief Economist for the World Bank and a guy responsible for the removal of Glass Steagall. It's fair to call these guys "bankers" right?
So that's the Board of DCG. They're spearheading the Segwit2x movement. As far as who is responsible for development, my research led me to "Bitgo". I checked the "Money Map" https://i.redd.it/15auzwkq3hiz.png
And sure enough, DCG is an investor in Bitgo.
(BTW, make sure you take a good look take a look at the money map and bookmark it for reference later, ^ it is really helpful.)
"Currently, development is being overseen by bitcoin security startup BitGo, with help from other developers including Bloq co-founder Jeff Garzik." https://www.coindesk.com/bitcoins-segwit2x-scaling-proposal-miners-offer-optimistic-outlook/
So Bitgo is overseeing development of Segwit2x with Jeff Garzick. Bitgo has a product/service that basically facilitates transactions and supposedly prevents double spending. It seems like their main selling point is that they insert themselves as middlemen to ensure Double spending doesn't happen, and if it does, they take the hit, of course for a fee, so it sounds sort of like the buyer protection paypal gives you: "Using the above multi-signature security model, BitGo can guarantee that transactions cannot be double spent. When BitGo co-signs a BitGo Instant transaction, BitGo takes on a financial obligation and issues a cryptographically signed guarantee on the transaction. The recipient of a BitGo Instant transaction can rest assured that in any event where the transaction is not ultimately confirmed in the blockchain, and loses money as a result, they can file a claim and will be compensated in full by BitGo."
So basically, they insert themselves as middlemen, guarantee your transaction gets confirmed and take a fee. What do we need this for though when we have a working blockchain that confirms payments in the next block already?
0-conf is safe when blocks aren't full and one confirmation should really be good enough for almost anyone on the most POW chain. So if we have a fully functional blockchain, there isn't much of a need for this service is there? They're selling protection against "The transaction not being confirmed in the Blockchain" but why wouldn't the transaction be getting confirmed in the blockchain? Every transaction should be getting confirmed, that's how Bitcoin works. So in what situation does "protection against the transaction not being confirmed in the blockchain" have value?
Is it possible that the Central Bankers that control development of Segwit2x plan to restrict block size to benefit their business model just like our good friends over at Blockstream attempted to do, although unsuccessfully as they were not able to deliver a working L2 in time?
It looks like Blockstream was an attempted corporate takeover to restrict block size and push people onto their L2, essentially stealing business away from miners. They seem to have failed, but now it almost seems like the Segwit2x might be a culmination of a very similar problem.
Also worth noting these two things, pointed out by Adrian-x
So segwit2x takes power away from core, but then gives it to guess who...Mastercard and central bankers.
- MasterCard made this statement before investing in DCG and Blockstream. (Very evident at 2:50 - enemy of digital cash watch the whole thing.) https://www.youtube.com/watch?v=Tu2mofrhw58
- Blockstream is part of the DCG portfolio and the day after the the NYA Barry personal thanked Adam Back for his assistant in putting the agreement together. https://twitter.com/barrysilbert/status/867706595102388224
So, to recap:
Did we just spend so much time fighting and bickering with core that we totally missed the REAL takeover of Bitcoin, happening right before our eyes, by the likes of currently serving Federal Reserve Bank of New York Board Members?
- DCG's Board of Directors and Advisors is almost entirely made up of Central Bankers including one currently sitting Member of the Federal Reserve Bank of New York and another who was Chief Economist at the World Bank.
- The CEO of the company spearheading the Segwit2x movement (Barry Silbert) is an ex investment banker at Houlihan Lokey. Also, Mastercard is an investor in the company DCG, which Barry Silbert is the CEO of.
- The company overseeing development on Segwit2x, Bitgo, has a product/service that seems to only have utility if transacting on chain and using 0-Conf is inefficient or unreliable.
- Segwit2x takes power over Bitcoin development from core, but then literally gives it to central bankers and Mastercard. If segwit2x goes through, BTC development will quite literally be controlled by central bankers and a currently serving member of the Federal Reserve Bank of New York.
And before you dismiss all those hard and documented facts as just a 'conspiracy theory', think about this:
Of course, who thought that the ones holding the centralized financial power today (famous for back-door shady plots to consolidate even more power and control), would sit on their hands and let Bitcoin just stroll in and easily take that power away from them?
So, it is not a crazy conspiracy theory, but more like the logical and expected thing to happen. Don't let it happen.
Edit 2: Brian Armstrong taken out of the 'bad guys' list.
Edit 3: Welp, Brian Armstrong back on the blacklist for this flip-flop
. And added Winklevoss Brothers for this
, and Bobby Lee for this
Edit 4: Due to Brian Hoffman just issuing this excellent and explicit S2X/NYA support retraction
, I created this post to apologize for my previous posts (calling them out for the S2X support) and I will be editing my posts to reflect this positive change. I'm gladly back to being a supporter of the great and promising project that OpenBazaar has proven to be.
Edit 5: Added Blythe Masters (How could we leave her out?).
Edit 6: Added links to lists of companies supporting S2X/NYA.
Edit: I'm done speaking on the subject. To all the people who took my advice (to simply watch your Litecoin/ The Lee brothers closely), my point is made. To all the people who chose not to see that I'm just trying to show you where these brothers have their hands in the market, I guess I can't help that. I'm not saying Litecoin is going to fail, but I'm saying the Lee brothers may have a bigger hand in crypto than realized and we could be playing right into their game. submitted by
I know this is speculation, but with how much trading I do I can usually spot a pattern. Has anyone else noticed that somehow with the market "taking a turn", and all cryptos underperforming (including Bitcoin & Ethereum), how is it that Litecoin (which happens to be directly tied to Coinbase through Charlie Lee , who has (Edit: Had) a VERY high position, is somehow jumping up in the market with 1B in daily volume in transactions, and yet no one is noticing its direct tie to a company that is single handedly ruining two major cryptos. I'm not saying what they are doing is illegal, but isn't it highly unethical to run this sort of business model? Especially one that you directly have a hand in? This almost feels like how Bobby Lee ran a "vote" on twitter to list ETC on BTCC knowing well that it wasn't worth that listing, and he had a personal interest and would directly benefit from it being listed. This is getting ridiculous with how these companies aren't thinking of the customer and a huge conflict of interest is going on inside these companies day in day out. Edit2
: I'm not saying you guys can't believe what you want. But it's a little ridiculous that Litecoin have 1 BILLION dollars in daily volume (this is the same volume Ethereum & Bitcoin are trading), and it only HAS 2.4B total volume, conveniently with Charlie denouncing his role in Coinbase. Ethereum shot up from ~1B to 20B and still never had over 1 billion in daily volume until recently. Edit3
: Ripple went from ~1B to almost 11B and STILL doesn't have a daily volume NEAR 1 Billion. Edit4
: Actually I underestimated. Litecoin traded at nearly 2 Billion (~1.75B) volume in ONE DAY. Nearly double its actual market cap, and yet people think it's totally normal. I get this is an Ethereum sub, but Litecoin dealt with Coinbase, and no one here thought, hmm something is odd. Edit5
: WHOA WHOA WHOA. I know I usually miss a couple of things because I scan through text so fast, but Charlie and Bobby ARE BROTHERS? WTF.. That's a huge conflict of interest.... both happen to work with MAJOR exchanges and both happen to have their hands in direct say of competing cryptos? I wouldn't touch anything they directly approve of with a 10 foot poll. If we know for sure that Bobby totally despises the idea of ETH, how is it any different that his BROTHER have the same outlook? Why wouldn't Charlie work directly with his brother if they had the same goal? Edit6
: Maybe last edit because this is turning my stomach. Why is it that Charlie added segwit to Litecoin code in the same timeframe that Bobby was pushing so hard for it in his twitter polls "revealing" that people would stay on the bitcoin chain and wait it out for segwit because it was such a great idea? It is ridiculous how much these two brothers have swayed a DECENTRALIZED technology. Edit7
: I can't even be repulsed enough to not look. He couldn't even wait more than a couple of months to leave coinbase? I mean litecoin was on Coinbase for less than TWO MONTHS. It's nonchalantly added through a conversation between Charlie & Brian? Then Charlie leaves within months of it happening? People, if I've ever cared about the public, now is the time. Evidence obviously points to Charlie having ulterior motives, and I'm not going to say Brian was 100% in on it, but these are way too many coincidences.
If August 1 comes, Bitcoin has problems and people just mysteriously flood to Litecoin, which has been stagnant for years, I cannot continue to call this coincidence. I'm not telling everyone to flee the market, but the things that I've stated can be verified in less than a minute and I am only here to increase exposure for anyone thinking of making the jump without connecting the dots. Maybe this is why Coinbase fees are significantly higher yet their infrastructure hasn't seen a change in years. Last and Final Edit:
Please just take the time to think about how quickly ETC was added to BTCC and yet with the massive volume that ETH is trading it still hasn't peaked interest in Bobby possibly looking into adding it to the exchange?
I know I said last and final edit, but sometimes we have to lie in order for people to see what's going on. I wrote this in comments, but someone tell me this doesn't make sense and I'm just seeing things.
I didn't want to go on with edits because I said last and final lol. But what if this explains why there is always a huge difference in EU/US and Asian markets for ETH, but somehow Bitcoin, Litecoin, and ETC look the same across the board. Someone is obviously pushing the ETH market down. That is a near a $4 billion difference in market cap, and now it finally starts to look somewhat understandable as to why Asia is selling higher only for ETH and no other crypto.
BTCC's chief executive officer Bobby Lee will hold an AMA on Mobi, our new bitcoin wallet app with support for Twitter payments, conversion between 100+ currencies, and a complimentary Visa debit card, here on Sunday, March 26th. The AMA will be from 7 to 8 PM PST (UTC-8). Any and all questions are welcome. You can post your questions below now. Bobby will answer them on Sunday in the order in which they are posted. submitted by
Bobby Lee has given his input as to what price Bitcoin can look forward to, and its a very healthy and FOMO-inducing $60,000. On Twitter, Bobby Lee talked about the future of the space and has invited the community to answer a few questions about Bitcoin. He compared the current market crash with the downtrend that Bitcoin experienced back in 2013. At that time Bitcoin reached an all-time high of $1,200 and plummetted for the next 13 months over 87% and bottomed close to $150. Entrepreneur Drops Bitcoin Knowledge on Bruce Willis. In a recent tweet, Bobby Lee, a board member of the BTC Foundation and the brother of Litecoin’s Charlie Lee, claimed to have met Bruce Willis — a prominent actor featured in movies like “Die Hard,” “Unbreakable,” and “Looper” — on his flight from Los Angeles to Shanghai ... Bobby Lee, der Gründer der ersten Bitcoin-Börse Chinas, glaubt an einen Bitcoin-Kurs von 500.000 bis eine Million US-Dollar in unter zehn Jahren Once you load it with bitcoin, litecoin, ethereum, this device has everything it needs to access the funds.” Hang on a second… Ballet Raises $5 Million; Bobby Predicts $200,00 BTC. Ballet is said to have raised around $5 million in seed funding from Lee’s friends and family, as well as Silicon Valley venture capital fund Ribbit Capital.
Bobby Lee co-founded BTCC (formerly BTCChina) and was acting as CEO of the first bitcoin exchange in China and the world leading bitcoin financial platform till the January 2018. Before BTCC, Mr ... ️ [PODCAST PROMO] Get $25 In Free CMDX Tokens from our sponsor: http://promo.cryptonewsalerts.net Bitcoin price will surpass the market cap of gold and coul... In this episode of Follow The Coin Insider, Bobby Lee, CEO of BTCC speculates on the end of the current bear market of Bitcoin and the potential of an emerging bull market in Bitcoin. BTCC co-founder & CEO Bobby Lee sat down with Crypto Finder at Blockchain Week in London. How does the chief of one the world's longest-running crypto exchanges feel about bitcoin's shaky start to ... Our host Owen talked to BTCChina co-founder Bobby C. Lee about his company, China's influence on crypto, and his predictions for the market. Will the Bitcoin...