Sebo

So far we've been able to document that Kaspa's market price is likely being manipulated in at least the following ways: 1. Order book manipulation. This occurs when an exchange places a large sell order (a "sell wall") for Kaspa that does not reflect a real supply of sellers. More specifically, this manipulation occurs when sell orders are not from market participants who actually possess that amount of Kaspa and/or actually intend to sell that amount of Kaspa at the ask price. Often times these sell walls occur on one exchange even while other exchanges are reporting extremely high buying percentages for Kaspa. This incongruence between exchanges likely indicates that at least some exchanges are manipulating Kaspa's price. 2. Withdrawal halts. When an exchange halts Kaspa withdrawals for a prolonged period of time -- for whatever reason -- the inability to withdraw Kaspa from the exchange can force a Kaspa liquidation by those who wish to pull their value off the exchange. In the worst documented cases, we have seen Kaspa on some exchanges become indefinitely frozen. 3. Binance listing Kaspa perpetual futures without a spot listing. Binance keeps long Kaspa exposure locked in U.S. dollar stablecoins due to the inability to settle in or close out and convert into Kaspa on the exchange. This allows for leveraged bets on the short side to be greater than what the market would otherwise allow if there were actual Kaspa settlement or convertibility. Kaspa settlement and/or convertibility would cause a greater degree of supply shock and a higher degree of leveraged short liquidation than in a market environment where no such settlement or convertibility is possible. Thus, limiting settlement and convertibility suppresses Kaspa's price. 4. Chainge Finance closing its wKAS bridge. In this situation, ERC-20 wrapped KAS (wKAS) was originally bought by market participants at native KAS prices by those who wanted to use their Kaspa value in the Ethereum ecosystem. After Chainge Finance closed its wKAS bridge due to stated security reasons, wKAS began to trade at a substantial discount to native KAS because of a lack of convertibility. We observed that in some cases, the discount reached as much as 90% (see attached screenshot from Etherscan where wKAS traded at just $0.01 at a time when native KAS traded at ~$0.10). The wKAS bridge closure is effectively a KAS short because the lack of convertibility has a similar effect as issuing unbacked KAS liabilities. Unbacked KAS liability issuance effectively increases the (paper) supply of Kaspa and drives down its market price. Interestingly, similar strategies have long been used by central banks to suppress the spot price of gold. These are all forms of market manipulation that are suppressing the USD price of Kaspa. The silver lining is that this price manipulation does not have a long term impact on Kaspa, though it is causing some analysts to conclude that Kaspa has broken its power law model against the USD. By making it artificially cheap to convert fiat currency into Kaspa, price manipulators are effectively subsidizing its accumulation for hodlers. Eventually, the tides of price manipulation will swing in the opposite direction, whereby Kaspa's price against the dollar is artificially inflated. In this case, Kaspa will be valued far above its hashrate-implied value. If you are aware of additional Kaspa market manipulation. Please feel free to list it below.

Kaspa will end the asset over-financialization problem. The idea that a person needs to invest their money is a consequence of not having sound money. If money is sound, then one doesn't need to hedge against it by investing. As sound money, Kaspa will not only be a good store of value, but it will tend to best the best store of value. What brings Kaspa its inherent value is the fact that it is an unforgeable receipt of work done (or, more specifically, the best unforgeable receipt of work done in existence). In less advanced times, gold and silver were the best unforgeable receipts of work done. Gold and silver represented receipts that someone must have undertook the work of mining for a rare element and refining it into coinage. Bitcoin changed this when it created the first-ever digital commodity, or an unforgeable digital receipt that work was done. Bitcoin became superior to gold and silver because it obviated the need for centralized custody of the unforgeable receipts that work was done (it removed the need for banks). Among other things, Bitcoin enhanced the portability, transactability, supply predictability and the decentralization of commodity money. Then Kaspa perfected Bitcoin. Kaspa created an optimized, scalable generalization of Nakamoto Consensus. Kaspa solved the blockchain trilemma by achieving and optimizing scalability, security and decentralization. Once Kaspa implements the vision of the #DAGKNIGHT whitepaper, it will effectively position commodity money at the possibilities frontier, constrained only by the laws of physics. In other words, Kaspa will constitute perfect money. As perfected money, Kaspa will, as a matter of mathematical certainty, extract the monetary value out of all other assets and inferior monies (including even Bitcoin). The only value which Kaspa will not extract from other assets will be the utility value. As such, there will be no need to hold other assets unless one needs to do so for the utility. The concept of "investing" one's money will go away. There will no longer be "buy low, sell high" of other assets when denominated in Kaspa, because the value of all other assets will tend to decay against Kaspa as the latter insidiously extracts the monetary value from the former over time. The concept of "portfolio diversification" will go away as people no longer need to hedge currency devaluation through various assets depending on the booms and busts caused by Keynesian economics and central bank monetary policy. Interestingly, Kaspa will force sustainability because it will strongly disincentivize consumption without a true utility need. It will force work to be expended in order to sustain consumption. It will also drive a race to the most sustainable mining operations possible (i.e. optical mining) by rewarding those who minimize operating expenses. Kaspa will solve the affordability crisis once workers begin to exchange their labor for the scarce digital commodity. The prices of goods and services will decline at no less than the rate that real productivity increases, allowing ordinary workers to live comfortably for the first time since gold and silver were the monetary base. No longer will workers need to compete for resources against those who use them to hedge currency devaluation (e.g. real estate investors). Obviously central authorities will try to resist the trend to preserve their corrupt existence, but they will quickly find themselves steamrolled by an extremely strong first mover advantage and game theoretic forces. Perhaps most important of all, peace will be enduring as the military industrial complex suddenly finds that it can no longer finance itself through political corruption and ledger manipulation, and that it must finally be accountable to the people. Kaspa is endgame.