Bitcoin’s Conversion from Decentralized to 100% Controlled Asset

Crypto currency was developed by a mysterious unknown person known as Satoshi Nakmoto with the purpose of providing decentralized global border less, human interference less payment mechanism with its own native coin well known as Bitcoin / BTC. Creator of Bitcoin had imagined that its is highly impossible to manipulate or control Bitcoin price or its holding.

Smart Investment in Mining :

Banker understood the power of bitcoin in 2016 and started investing in Bitcoin mining rigs to gain future mined bitcoins control and at the same time funded upcoming crypto exchanges which were holding major bitcoins of users.

Honey Trap :

By luring innocent initial bitcoin holders in cheap worth less crypto tokens by pumping them by 1000 X in a day they encouraged bitcoin holders to shift from bitcoin to these worthless assets and as soon as their targets were achieved they quickly dumped these worthless assets and wiped out bitcoin balances from their wallets, leading to accumulation of bitcoin to wealthy wales who could then easily manipulate bitcoin prices to force other common holders to sell bitcoin due to falling price.

Nail in Coffin :

Then the third and most effective way of wiping out bitcoin holding from common people was busting major crypto exchanges and imposing legal actions against major crypto exchange owners and making them surrender their public holdings to government custodians.

Conversion from Decentralized to 100% Controlled Asset :

This is how the decentralized Bitcoin has become centralized and the whole purpose of crypto currency as a decentralized payment mechanism has failed.