Pseudonymous Twitter person “Mr. Whale,” often known as “CryptoWhale,” has amassed each huge fanfare and controversy on the social media platform. He describes himself as a “contrarian investor” and his views are broadly adopted by these which are sometimes bullish on the cryptocurrency area however, on the identical time, he has been accused of being a scammer and worse by the so-called Bitcoin (CRYPTO: BTC) maximalists.
Mr. Whale in an unique dialog with Benzinga provided readability on his views surrounding completely different facets of the cryptocurrency area, together with on how the communities backing the apex coin and Dogecoin (CRYPTO: DOGE) differ.
About Mr. Whale: Mr. Whale is an nameless supply of cryptocurrency insights who additionally runs a notable weblog on Medium. He has amassed greater than 420,000 followers on Twitter.
“The principle goal of my Twitter web page is to supply the crypto neighborhood with a practical, trustworthy, and contrarian voice that goes towards the moon boys and maximalists,” stated Mr. Whale in an trade with Benzinga.
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“My account has grown considerably during the last a number of months, rating me as one of many largest crypto accounts on this planet.”
An element that helped Mr. Whale’s reputation on Twitter was Tesla Inc (NASDAQ:TSLA) CEO Elon Musk, who posted “certainly” as a reply to considered one of his tweets final 12 months. In that tweet, Mr. Whale posted a stinging critique of Bitcoiners venting their frustration at Musk after the latter stated the apex cryptocurrency was not environmentally pleasant.
— Elon Musk (@elonmusk) May 16, 2021
Is Mr. Whale Bitter On Bitcoin: Mr. Whale was no completely different from the present breed of Bitcoin believers when he first entered this area in 2013, however his present bearish outlook was locked into place when he apparently found the “true nature” of Bitcoin.
“I imagine Bitcoin’s fad will ultimately die down, alt cash will take over, and rules will carry an enormous hurdle for Bitcoin buyers. El Salvador’s Bitcoin bid has already backfired, and a lot of the world is starting to query Bitcoin’s true utility, which it’s evidently missing.”
That’s not the one cause why Mr. Whale is skeptical about Bitcoin. He says the stablecoin Tether (USDT) poses a risk to the cryptocurrency markets.
“Many aren’t conscious that 60-80% of all crypto quantity is in USDT, which is basically run by a mafia. [Tether’s] destiny is inevitable in my view, and that may additional destroy Bitcoin’s prospects.”
Mr. Whale additionally famous what he believes are different underlying faults in Bitcoin — significantly its community, such because the Proof of Work (POW) algorithm, which purportedly causes environmental destruction for “little or no profit.”
Gung-ho On Altcoins And DOGE: Mr. Whale is of the agency opinion that Bitcoin’s reign because the “king” of cryptocurrencies is quickly going to finish.
“As soon as one thing higher surpasses it, the crypto markets will start to behave independently of Bitcoin, which is nice!”
Among the many altcoins, one coin whose neighborhood the Twitter superstar likes is Dogecoin, “which he describes as rather more open-minded, respectful, and enjoyable to speak to. I’ve an enormous DOGE following, and have at all times gotten together with them with none issues! Nice folks!”
Ax To Grind: Mr. Whale is engaged in a “warfare of tweets” with whom he describe as “Bitcoin maxis.”
I’d somewhat eat 45 gallons of whale sperm than be a #Bitcoin maxi!
They’re disgusting creatures.
— Mr. Whale (@CryptoWhale) February 3, 2022
#Bitcoin maxis are hypocrites.
They spend each waking hour criticizing fiat, but it’s their first fee choice for the Bitcoin 2022 convention.
94% of all their tickets had been bought utilizing fiat. No person makes use of Bitcoin, not even Bitcoiners. pic.twitter.com/PXJf2LieAn
— Mr. Whale (@CryptoWhale) February 3, 2022
Mr. Whale credit the maximalists for the festering dispute between himself and the Bitcoin crowd.
“My dispute with Maxi’s began with their fixed assaults, and FUD [fear, uncertainty, and doubt] campaigns they began towards me after I started talking out towards Tether, and different fraudulent or suspicious tasks on this area,” Mr. Whale informed Benzinga.
Accusing the maximalists of hatred, ignorance and hypocrisy together with deception, he stated he has witnessed them weave pretend narratives “in an effort to lure in grasping retail buyers to allow them to pump their luggage and get wealthy from these suckers.”
Nameless Crusader Or Rip-off Artist: Mr. Whale has been accused of utilizing a “complicated net” of greater than a dozen accounts and over 34 usernames to earn cash on Crypto Twitter by a self-described digital nomad and “freedom maximalist” Cryptonator1337.
The identical blogger stated that Mr. Whale ran dozens of pretend giveaway scams. Moreover, he wrote that Mr. Whale groomed “purchasers” by luring them with gives of “skilled” and “non-public mentoring” by means of using one-on-one chats by means of Telegram and Discord.
“Regarding the accusations by a couple of Bitcoin maximalists towards me, it’s all phony and created in an try and slander and destroy my popularity,” stated Mr. Whale.
“With zero proof, and 0 victims, they’re nothing however manipulative lies. However regardless, in contrast to many of those so-called ‘crypto influencers’ on right here, I’ve by no means as soon as requested for anybody’s belief, nor have I ever shilled any schemes to my followers. I merely share my ideas.”
On anonymity, Mr. Whale stated he’s a proponent of it and tries to remain nameless himself however he cannot deny its disadvantages.
“I’ll admit there are a lot of downsides to it,” stated Mr. Whale. “Within the present state of the market, I strongly imagine the disadvantages outweigh the benefits, simply check out the amount of funds misplaced on account of exit scams involving DeFi or nameless gamers.”
Mr. Whale On Wider Crypto Area: Whereas Mr. Whale’s opinion on Bitcoin is well-known, he described cryptocurrencies because the “starting of a monumental shift in finance.”
“Whether or not it is long-term adoption mirrors mega booms just like the invention of the web, or tumbles into oblivion like Beanie Infants is inevitably as much as the efforts every of us make every day to stay moral, trustworthy, and rational.”
Within the close to time period although he expects the markets to “contract considerably” all through 2022 and 2023.
“The actual winners of this will probably be those that can preserve endurance, and aren’t tricked into among the many bull traps we are going to witness, similar to in 2018.”