A month before BPrivate was created, via a hard fork from ZClassic “merged” with Bitcoin, I loudly warned of the red flags it raised in two articles – one of which, compared the negative factors in BPrivate to the positive ones at BRhodium. As a Bitcoin holder, I am entitled to both – but thus far, have only received the airdrop BRhodium…as opposed to the non-safely-splittable fork BPrivate, that I may never see.
Amongst the myriad reasons for my dislike of BPrivate - and thus, suspicion it would fail to generate and maintain a material valuation; aside from it having ZERO use case, other than pumping and speculation; was my distrust of its “founder” Rhett Creighton. Not that I knew much about him, but as far as I’m concerned, all vocal supporters of BCash – the manipulative malware with no use case, run by the worst people in crypto – is either unknowledgeable about Bitcoin, compromised by an ulterior motive, or both.
That “minor detail” aside, what turned me off most was the shady manner it was distributed. For Bitcoin holders, nothing risky was required to be entitled to it; however, claiming it is an entirely different situation…as the odds of it being safely splittable by major exchanges or wallets were slim to begin with. As it turns out, essentially no exchanges trade it at all…let alone, large, reputable ones. Thus, unless I take significant risks with my private keys – for a coin now worth barely $30 – it’s unlikely I’ll ever receive it.
Conversely, the other way of being entitled to BPrivate was to buy ZClassic, the ZCash fork created specifically to facilitate BPrivate’s creation. The only problem being, that ZClassic is essentially worthless, so most investors – the majority of which, had not a clue what they were getting into – got REKT when they bought the pumped ZClassic to get BPrivate, only to watch it dump the second the blockchain snapshot was taken. Given that the BPrivate “team” was not only aware of this process ahead of time, but created ZClassic specifically for this purpose, they unquestionably were buyers beforehand, and sellers to the suckers who bought at the highs.
Less than a month after BPrivate was created, my suspicions have been validated in spades – as the situation has spiraled from bad to worse, starting with Rhett’s sudden departure from the coin he supposedly “founded” – but in reality, had little to do with other than “promotion.” Heck, I retweeted this Tweet earlier this weekend, before I understood the horror show that was unfolding.
As it turns out, the “champion” of BPrivate – Rhett - has already “left”, before it even became available to the vast majority of those entitled to it. Yes, the “lone genius,” in his own words, had better things to do than stay with the coin he was the “Vitalik” of, to move on to his next pump and dump scheme.
The remaining BPrivate bagholders – I mean, development team – are scrambling to pretend all’s well…
…so much so, they’re having the Wall Street equivalent of a “management conference call” tonight to explain why their blatantly centralized altcoin is just fine, despite its founder shadily leaving weeks after creation, as its “stock price” plunges…
That said, the “unforeseen consequences” of the evil BPrivate spawned are far worse – for BPrivate holders, and the “80 percenters” that follow the shady characters involved…on multiple fronts.
First, we have Rhett’s latest venture, “Bitcoin Prime”; which mere days after leaving BPrivate, he is already pumping - as a similar “spork” transaction, in which the obscure “PrimeCoin” will be forked into Bitcoin, just like BPrivate was with ZClassic.
As you can imagine, the 80 percenters – who amazingly, didn’t learn from their experience with ZClassic, have bid it up, from $0.95 Friday to nearly $2.70 this morning. Some of the late buyers will be bagholders…and likely, anyone who piles in from here on. But guess who had the opportunity to buy at rock bottom prices? Yep, the same guys who created ZClassic, principally to fork it into Bitcoin under the guise of creating a revolutionary “privacy coin” with “Bitcoin branding” and a huge marketing effort with “mysterious” funding.
That said, BPrime isn’t even close to the worst “unforeseen consequence” the Pandora’s Box/Trojan Horse BPrivate has spawned…as not only is Rhett replicating the BPrivate sporking charade right in front of our faces, but a copycat who calls himself “Crypto King” is doing the exact same thing with...I kid you not…ZClassic!
Worse yet, “Jake Greenbaum” has quite obviously “partnered” with none other than CNBC, the sc-m of the Earth that has REKT investors for decades in stocks; but now, has found an even more lucrative playground to exploit 80 percenters; i.e., the 100% unregulated cryptocurrency markets…be it in Ripple; BCash; or now, “Bitcoin Anonymous.”
Before I even knew what was going on; i.e., the nefarious, and borderline criminal, “BAnonymous” pump and dump; I tweeted the following – at one fell swoop, killing two Bitcoin community enemies with one stone.
However, that was before I saw Ran Neu-Ner, the slimy opportunist “CNBC Africa” hired to broadcast the “Crypto Trader” show, was pumping a “big announcement” of a new coin to be forked from ZClassic. I have expressed my reservations about Ran in the past, given his uncanny ability to give nearly every bad actor in the Bitcoin community a forum to spout their lies. However, what he has just done is far worse - yielding my new, “official” stance that he is an enemy of the Bitcoin community.
Just like ZClassic the first time; and Primecoin now; ZClassic started pumping as soon as Ran “broke the story” of the Miami-based development team – led by “Crypto King” Jake Greenbaum; on the verge of announcing a new ZClassic fork…“coincidentally” at the Miami blockchain conference Ran happened to be attending. Seriously, I’m not making this up!
Yes, a week ago, on April 23rd – just before Ran “broke” this story, ZClassic was left for dead at $12…down from nearly $200 at the height of last month’s criminal BPrivate pump; so much so, its own development team admitted NOTHING is going on.
And what a shock…in the run up to Ran’s show on the 28th, ZClassic pumped all the way to $41, enabling those who KNEW of this scheme beforehand to nearly quadruple their money in four days. Sure enough, just before the episode aired, the price peaked – plunging to $24 as I write.
In the first eight minutes of the show, you can listen to Ran prop up his partner, the “Crypto King” – who promised a BAnonymous website by yesterday, that I can’t seem to find…and LOL, a fork date of September 10th, four-plus months away! This is as shady as it gets – spawned directly from the poisonous BPrivate “family tree.”
Conversely, we have BRhodium – whose decentralized protocol, created by anonymous developers, is in the last stages of software development. Thus far, everything about the project has been honest; well-disclosed; and above all, successful. Shortly, its mining code will be release for public testing – after which, it will likely be listed on one or more reputable exchanges. Given current cryptocurrency prices, I believe it will be one of the most valuable altcoins in existence – with a bright future, featuring a unique use case and strong, long-term thinking community of BRODLers.
The moral of the story being, that whilst the shadiness seen in the altcoin market is clear evidence that the bull market has returned, countless scams and schemes are prevalent – which you can avoid by simply HODLing Bitcoin…which in turn, entitles you to illegitimate cryptodividends like BPrivate, Prime, and BAnonymous…and legitimate ones like BRhodium.