Craving Crypto Ep 6 "Syscoin Pump to 96 BTC & Potential Hack?"

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Syscoin team is preparing an official statement. Syscoin was not hacked at all. There was neither the fabled "51% attack" (Syscoin is merge-mined with BTC), nor was the Syscoin API hacked. Issue was entirely internal to Binance and their own API – that's why Binance locked all trading and reset everyone's Binance API keys. What has confused people was when Syscoin announced they were investigating a "possible issue" – doing due diligence. Before/during the Binance issue SYS devs noticed atypically numerous transactions involving a single bag of ~45m existing SYS rapidly going from address to address. Turned out those TXs were perfectly legit as the protocol goes (probably an exchange wallet (Binance?), IMO). People who are apparently unfamiliar with reading block explorers assumed the sum of all these transactions represented 1.2 billion new coins being mined when that was entirely inaccurate. Only 32 Syscoins were mined on that 1 minute block – the normal amount. Rumor is a mix of ignorance, a chance to opportunistically shill other projects, and probably some intentional FUD too. Syscoin team will clear the air soon.

Hello Dalin! So one thing I'd like to see you comment about is the crash of the .com bubble and the patterns we had last year with bitcoin.
In the .com bubble, we saw A LOT of young people leaving their jobs and saying that they would become traders; we saw a lot of people saying the .com was the future of the economy and it would never crash; we saw a lot of people without any particular skill in trading getting rich (so, in a way, they didn't "earn" it). Those similarities are scaring me, because all those people actually lost money in the end. People left their job to trade the .com market because anyone that put money in the market would make (it was impossible to lose money as the market only go up) so they thought they were geniuses of the market.
People were buying shares of a company they didn't even know about, the same thing that happened in crypto when people were buying altcoins without knowing anything about it

And the exact same thing happened to bitcoin in the last bull run, the only difference is that those people that quit their jobs to trade in the .com market actually had to go back to work in the end because they lost everything. I have a lot of friends who left their jobs to trade crypto, but they are still fine because the price is still high.

Any thought on this patterns? The way I see, in order for the bubble to be complete and to shake off the "noobs" the price would have to go to like 1500$

Thanks for answering to my comment ?
The 91 to 9% is an overall percentage in all markets for loosers and winners and for crypto market I check the number of longs and shorts to check the percentage of people’s opinion about the price trend. I know it takes time for majority to believe a trend which I think recent spikes is getting people ready and giving them more hope (because I think we are in a bull trap rising wedge). I also know that youtubers and people in twitter are traders not the majority but the others watching them and follow their lead because they have no clue what’s what.
However I enjoy your videos and I like to see other traders vision over the market because everyone see the market from a different angle which is nice to listen and learn.

SYScoin was not compromised, Binance API was.

SYScoin is one of safest coin – Mergemined with BTC.

1.2B transaction – several transaction of SYScoin on Bittrex in one block. Everyone who understands Blockchain can see that.

Please be professional and do not spread false news.

Thank you

good vid brother . yes eth was fun to watch !