RATE Group | The Dark Side of Becoming the ‘Next Bitcoin’
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The Dark Side of Becoming the ‘Next Bitcoin’

25 Jan The Dark Side of Becoming the ‘Next Bitcoin’

Posted at 19:53h in Bitcoin News by

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  • The CEO of altcoin project uPlexa revealed to CCN.com the obstacles posed by a greedy and corrupt cryptocurrency space.
  • Centralized exchanges have become the banks of the cryptocurrency world.
  • If you’re not partnered with the top 1%, it’s going to be a very long journey for your altcoin.

Your favorite altcoin’s path to becoming the “next Bitcoin” is a lot more treacherous than you think.

The CEO of uPlexa (UPX) told CCN.com about the financial and ethical minefield faced by upstart altcoin projects in the cryptocurrency industry. Kyle Pierce – the project’s co-founder and lead developer – paints a miserable picture of an industry that may already have been taken over by its worst people.

Centralized Leaders of a ‘Decentralized’ Industry

Bitcoin exchanges are the kingmakers in the crypto industry. | Source: Benophotography/Shutterstock.com

The “king-making” ability of centralized exchanges is no secret. The CEO of DigiByte (DGB) claims…

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