July 11, 2018
Dear SEC,
The Bitcoin market is heavily manipulated and exploited by a handful of large supply holding broker dealers that go to extreme measures to mislead and misdirect the community and BTC holders..
I believe the more the Bitcoin community learns about this the more uncertain the future of this market is, I believe it will get completely abandoned in the end.
Edelman Trust Index currently states that there is a peak of distrust in institutions, mostly media, government & financial.
The liquidity in the Bitcoin market will eventually dillude once the community learns that it is heavily exploited by (chinese) hedge funds/broker dealers. Also there are years of debates of how to update the software for better scaling.
I believe Bitcoin will forever dillute into new coins and that institutional products will only profit from the short term hype.
With prebuilt blockchain frameworks like Tendermint, Exonum, HyperLedger it is only a matter of time before we have thousands of coins and Bitcoin has 1% dominance.
The more institutional support it gets the more ppl realize how they keep being lied to through CNBC and Bloomberg.
I have plenty of evidence of OTC broker dealers trying to deceive people in the community through Reddit, Telegram, Twitter. Some of these guys have already lost all credibility like Vinny Lingham, who is a VC insider and friends with chinese broker dealers.
I have not stated much publicly about these practices but ppl will keep learning about them and I think in the long run it will dillute all the BTC liquidity into other products.
Kind regards,
Anon