Hey Whales! You Have A New STEEM Whale Joining The POD!
Are you guys going to welcome him with open flippers? Look at the power ups in the last couple of days. Refueled after all the ponzi melt downs will that power be used for good or evil?
Kind of trolling at this point but what do you guys think?
If I Was Trevon
Hmmm it is an interesting question.... Let's pretend I woke up today and suddenly I was in Trevon's shoes and everyone had their pitch forks and torches out but I was whale status on STEEM. I would probably not ever talk about crypto or clearly the lending programs on my blog. I would probably just blog about the kids and make some kind of game on the blog where people could earn more STEEM. That way people are unlikely to downvote him all the time and eventually the whole thing will blow over.
People ask me about the lawsuits but not that I'm siding with these guys but those things could go on for years. I have seen lawsuits go on for 5 years and not get to trial. So nothing is going to happen anytime soon and it is going to be pretty hard to even get to a point where there is a meaningful hearing. I was going to do a video about the whole thing and I might still but there are a couple other videos I need to do first. One about SmartNodes and maybe another one about NuBits and surviving this crash.
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The icing on the cake is no Trevon is trying to turn this into a race issue, he said in a video the other day "what do me and Craig Grant have in common? We're black, that's why everyone is comming after us."
He said this in regards to the class action lawsuits. Hmm, let's see who else is mentioned in the lawsuit, CryptoNick and Ryan Hildreth, those guys are not black.
This is not a race issue, the reason he and Craig are mentioned along with Nick and Ryan is they were the biggest names in the Bitconnect game. Since Bitconnect is anonymous there's nobody to go after so who can you go after the people who were the face of Bitconnect and I would say Trevon and Craig were the biggest players in the game. Not only did they have large followings online but more importantly they were both the ones running ads, I couldn't watch a Youtube video without seeing Craig and his wife showing their Bitconnect riches on their big flat screen. That's why people are going after you dummy, not because your black.
I'm still very annoyed by this Bitconnect thing it gives the entire crypto space a bad name. I actually have people not into crypto ask me in regards to Bitcoin, have you ever actually been able to cash out and get USD in your bank account. Bitcoin has been around for years and years and years obviously we are cashing real money out into our bank accounts but to people not in the space tha'ts a serious question they have and its sort of the opposite of Bitconnect where people have all these paper gains they can see in their account but aren't actually able to withdraw it but I think non crypto people have a hard time differentiating, they just hear crypto and lump it all into one basket.
My stance on this whole mess has changed a little bit. While there's no excuse for what CryptoNick and Craig and Trevon did, at some point I do place a lot of blame on people who got ,involved. I think very few people were stupid enough to be truly taken advantage of, I think most people pretty much knew what they were getting into and thought what the heck I"ll roll the dice and hopefully I can at least get out my initial investment and some profit before this thing falls. They rolled the dice and they lost, play stupid games win stupid prizes. Don't get me wrong I feel bad for people who lost money but I think most probably did knwo what they were getting themselves into. I truly feel bad for those who were really nieve and listened to these guys though.
Yeah I saw Trevon saying that as well that it is because him and Craig are black. Not saying it is a legit argument but if I was Trevon and Craig it might be an effective defense depending on who the jury is in the case but when it boils down to it I don't see that whole thing getting to trail at all.
The main thing that is good is that people weren't really having it when all the promoters kept putting out videos.....etc.
I get 100% what you are saying about people thinking that all this money is "fake" and that we can't cash out.....etc. I know people who have known about this stuff for years and they still think that.
I had one guy say, "You have all this money in these digital currencies but do you ever turn it into 'real money'. " I just laughed at him and told him this is the real money but then explained that I can use digital currencies to buy anything on Amazon through Purse.io and how it would take a couple hours but I could cash it all out and have it all in my bank account in a couple of days once the transfer went through.
See I go back and forth on what percentage of people knew or not. Even with a Computer Information Systems degree and a lot of experience in the Stock and Option market I remember getting into crypto in 2013 and hearing someone say 'altcoin' and I was searching on YouTube and Google for altcoin because I thought that was the name of an actual coin. I also remember tripping out on every little FUD article about 51% attacks....etc.
I can imagine there were some pretty unsophiticated people who have never invested in anything before in their life and couldn't really tell the difference between these centralized exchanges, web wallets where you have your keys like mymonero.com or blockchain.info, sites like Steemit, and something like Bitconnect. It would all be very confusing. I think that is one of the things that has hurt Steemit. Especially the fact that you can "power up" and lock up the coins. In their heads they think that it could disappear overnight like one of the lending platforms or something. They can't really tell the difference.
You made me think of something funny when you talked about powering up. I had my dad finally wrapping his head around Bitcoin and cryptocurrency and then I started to talk about Steemit and explain the platform. Now obviously he's older and not really hip to social media period so not surprising he was confused but when I started explaining Steem vs Steem Dollars vs Steem Power his head started spinning and he was like this sounds like some crazy video game lol.
One other kind of funny anecdote or thought in regards to cashing out. I've been in the space for a while, I've cashed out to my bank account numerous times, yes it is real money. That said in regards to why people talk about house money or don't necessarily take the risk as seriously as they should IMHO is they don't really view crypto money as their money.
I've never cashed out large large amounts of money ie tens or hundreds of thousands, I've only cashed out a few hundred or a few thousand at a time. You see all these stories on Reddit or wherever else of people saying my wire went missing Coinbase hasn't responded in 38 days or tried to wire from Coinbase but my bank blocked the wire from comming through.
Even though logically I know in the end everything will work out you have those variables in the air like oh shit what if my bank refuses a 50k wire from Coinbase where will I send it, will I really be able to go back to cash with large sums of money? I think that whole iffyness of the current market and banking conditions make it easier to just keep the money in the markets.
In a sense it almost reminds me of sportsbetting when its so hard to actually get your money out of a sportsbook, they make you send your ID 10 times, ask for a utility bill, basically just a bunch of hoops to jump through so you keep playing with it and eventually lose it.
Not sure if that analogy makes sense at all or if its just me that has those fears but I wouldn't be shocked if I ran into some hiccups trying to cash out like 100k out of coinbase.
Yeah I hear ya. I have only cashed out a few thousand at a time and never did a wire for those. It wouldn't be a good feeling.
I'll have to see what Coinbases limits are on ACH vs wire in terms of payout. Let's assume you wanted to cashout like 100K, do you anticipate it being a smooth transaction or would you be expecting any issues?
I think to date my largest cashout was maybe 5k. I worry will by bank block the wire or will I have to jump through a bunch of KYC hoops showing them deposits to Coinbase as proof of funds or source of funds. I could show that and prove that but just wondering how smooth it would be
I'm not sure if there would be issues with 100K but personally in my mind it might come more down to the bank or credit union at that point of if they wanted to report a person or something. Because any check that is deposited over $10,000 gets reported. So I'm assuming that the same thing would happen with wire transfers of large amounts.
But when I think about it if a person was bullish on crypto over the long term I almost feel like it wouldn't makes sense to cash out 100K worth of crypto at once. I guess if a person was going to buy a supercar or a property or something they might. But what I'm trying to do is keep the majority in crypto and keep building it up bigger and bigger overtime and just be a super whale like some of these guys on the STEEM blockchain where they are almost like ghost figures who are whales in several different coins. I bet there are guys who have 10+ SmartNodes for SmartCash and the same thing probably goes for DASH Masternodes. I feel like if a person can get to a couple million in crypto then they will be rich for life.
I agree you should do a video!! I love seeing people post about their opinions on this.
Dayum. Boy been buying! If only @craig-grant would of kept the 200k he had @ his peak.
Crazy super powers! LOL
Hahah, that is pretty funny.
Thank you!
it tripped me out for a sec lol
I still get confused lol
I think you should make a video about it and I am sure the video will be successful @brianphobos
I might make a video about the lawsuit. I don't think people would like to hear what I have to say about it because it will almost sound like I'm on their side but it will be the truth about the legal system and how they can basically just side step the entire thing with little to no issues.
I would love to hear your opinion of it, +1 follower
Congrates.
congratulations!
How I feel about Steemit...hahaha