The 6 Biggest Cryptocurrency Fails of 2019

The 6 Biggest Cryptocurrency Fails of 2019
фото показано с : beincrypto.com

2020-1-1 21:04

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In the past decade, the blockchain and cryptocurrency industry has gone from being the domain of computer engineers and coders to a widely recognized field brimming with potential and promise.

However, although the industry has witnessed impressive growth fueled by the success of several cryptocurrencies and the platforms that facilitate their use, it has also seen its fair share of epic failures.

DigiByte Delisted From Poloniex

Despite the industry developing for more than a decade and several major exchange platforms rising to prominence in this time, 2019 proved that the figures behind these platforms are still not above personal disputes.

Perhaps the most public of these disputes occurred in December 2019, after the founder of DigiByte (DGB), Jared Tate, took to Twitter to slam the “#TRON trolls/bots” that had been attacking him in recent weeks.

Tate then voiced his opinion on Poloniex — stating that the exchange was turning into a TRX shill factory.

1/8 Im disgusted by all these #TRON trolls/bots attacking me & hyping a 100% premined & completely centralized network like its the most decentralized gift from god. Now #Poloniex has turned into a $TRX shill factory after making off w/ US customers sensitive data. Fact time:

— Jared Tate (@jaredctate) December 4, 2019

Tate didn’t stop there. He then went on to call out TRON for being centralized while stating that the founder of the project, Justin Sun, was responsible for dumping millions of TRX — yet still controls 34 percent of the total supply. He then turned his attention to Binance, stating that “Binance controls 56 percent of Tron voting power. So between CZ & Sun they can control 25 of 27 nodes.”

Shortly after Tate’s tweetstorm, the official Twitter account for Poloniex responded to clarify that they do not own the data of US customers and that this is instead preserved by Circle — the parent company of Poloniex. The exchange then turned the tables on Tate by deciding that DigiByte no longer meets its listing standards and will be delisted from the platform.

Lunch is Canceled

In June 2019, Justin Sun, the aforementioned founder and CEO of TRON, won an eBay charity auction to have lunch with Warren Buffet — the billionaire business magnate and investor. According to the official report, Sun bid around $4.57 million to win the auction, the proceeds of which would be used to help San Francisco’s most vulnerable residents through the GLIDE foundation.

According to the terms of the auction, Sun won the chance to sit down and have a private lunch with the business mogul at his favorite restaurant, the Buffett at Smith & Wollensky Steakhouse in New York City. As a known critic of cryptocurrencies in general and as a man that recently described Bitcoin as “probably rat poison squared,” it appears that Justin Sun was looking for a chance to change his mind at the three-hour lunch.

In the days immediately following his winning bid, Sun appeared to be looking for candidates to bring with him to the lunch, since the arrangement would have allowed him to bring seven additional guests. However, just days before the lunch was scheduled, Sun reportedly fell ill with kidney stones, forcing him to postpone the event.

I'd like to invite my good friend @yoniassia, Founder & CEO of @eToro, to join my lunch with @WarrenBuffett. 4 days to go and more friends to be announced!

— Justin Sun (@justinsuntron) July 21, 2019

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