One of My MOST FAVORITE Crypto Projects (Elrond RUMOR Debunked!)

is elrond a filthy crypto whale and not a magical elf king of middle earth is elrond an elaborate scam is its explosive growth all a sham i thought bit boy loved eatgold well don't get lost in a mirkwood forest of rumors and confusion consider this video you're leave a thorn to the latest developments in the land of elrond i don't even know if i said that right let's get it welcome to bitboy crypto the largest crypto channel in all the interwebs my name is ben every day on this channel i show you how to make money in crypto if you like money in crypto then make sure to hit that subscribe button in this video we take a quick look at elrond to dispel some rumors about the project so you can stay informed elrond is one of this channel's favorite projects and in fact it's been an amazing performer this year seeing an increase of 220 percent even after the pullback in may if you bought the e-gold token in 2020 you are sitting pretty kind of like that guy but l-run is not just an all-gainer it's a solid project i've gone into elrond in detail so click the link above to take a deep dive into the project with an earlier video but suffice to say it is a super scalable proof of stake smart contract blockchain that has network speeds that dwarf every other project in the crypto fellowship but there has been a dirty rumor about a run circulating the interwebs that is turning people off to the project but only a dumb guy would think that elron's a scam that's right some pretenders and shape shifters are pushing a false narrative so what are they seeing well let me summarize if you look at the elrond block explorer there are whale wallets holding a large majority of eagle so elrond is a centralized project and it's probably going to be manipulated what like there's so much wrong with that statement i feel like i'm under a confusion spell let me break this down blockchain has block explorers because it's a public ledger on those ledgers tell you who holds the coins when there are a lot of coins in a wallet we call them whales now back in the day the whales were rich dudes or nerds who had been mining since the early days but now whales are more than likely big investment firms large corporations and other institutions but there's a big difference between a whale wallet and an exchange wallet you see coin exchanges like coinbase binance or gemini have gigantic wallets for each one of the coins that they hold they hold them because they're exchanges and charge low fees because they keep all their users coins and giant wallets these addresses hardly ever change so it's easy to connect the dots and figure out what the exchange wallets are it's not rocket science this even applies to high profile wallets like vitality butarians well crypto its privacy focus is not uncommon for wallet addresses i've described to post their deposit addresses in public so the rumor that there are elrond whales waiting to pump and dump was flatly debunked by the elrond community on twitter they even did a breakdown of what exchanges had which address this isn't a security flaw all of this is protected by a multi-sig and 2fa and is part of the public ledger nature of blockchain the other thing to consider about elrond and why there are giant piles sitting on exchanges like hobbits sitting down to third breakfast is because those exchanges have staking contracts before i move on i do want to mention that elrond steggy is very cool and pays an incredible 21.45 interest as a recording of this video that makes it one of the most profitable staking programs out there but another reason elrond has a lot of token sitting on exchanges is a little more complicated due to the nature of the project there are millions of the chain specific elron erd tokens on the erc20 and bapti networks they've yet to be swapped for eagle this process is normal according to the elrond road map and no surprise to the elrond community they are fantastic by the way the most engaged community outside of cardano in all of krypto we love anyone from the fellowship of elrond and they are always welcome to join an even greater fellowship the bit squad we're not a hollywood production elrod is going to be a great smart contract project and we have very high hopes for it they have very strong partnerships and their mobile wallet my r is very cool one of the best digging wallets out there i think we have a link on bitboy crypto dot com steals if you want to check it out but the staking program is robust and the network speeds are crazy comment below if you've used the mayor wallet and your elrond price prediction if you think that elrond will hit the road map this year if you haven't already hit that like button and smash that subscribe button it really helps us out that's all i got be blessed bit boy out you

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