Goldman Sachs Funded Poloniex Angers Bitcoin Cashers with Silly BCH Logo

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A mid to low volumes crypto exchange, Poloniex, has come up with its own logo for BCH, some orangish circle with ABC written on it (pictured above).

“Bitcoin Cash is implemented by 10 individual full node products and most of the innovation comes from the wider ecosystem.

Your conclusion that Bitcoin Cash equals the ABC implementation shows more about your wishes and biases than it reflects the real world. Please fix,” says a BCH project.

“How can anyone take crypto seriously when you got exchanges ran by kids, changing names and making up logos?” – says an apparent BCH supporter.

The tweet with the ABC logo is still up, but apparently they thought to try a kids version or whatever we’re looking at here.

Some bored intern at Goldman Sachs trying a new career in MS Paint maybe. Can’t wait to see what other designs they come up with (yes sarcasm, just in case you get any silly ideas Poloniex.)

This exchange was once very popular because it was effectively the only way to get some eth. They threw away that advantage by metaphorically kicking out ethereans after adding what to them was the reee ETC in 2016.

That was the beginning of the rise of Kraken and Binance and the beginning of the downfall of Poloniex which handled only $1 million worth of BCH trading in the past 24 hours and $20 million in total.

The exchange was then acquired by Circle in 2018, with Circle saying they’re “backed by $140 million in venture capital from investors including Goldman Sachs.”

Circle has been around for quite some time, since at least 2015, but apparently they still haven’t learned a very simple lesson. Your job is to be neutral. Otherwise you create a market for competitors. Just ask BitMex what they think of Deribit. We know what the market thinks.

Copyrights Trustnodes.com

 

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The logo is actually pretty crappy. Not so cool at all.