Cryptocurrencies Part II - No more forks for you

[What the Faulk]

Honestly though, MAJOR RED FLAG if that is what a company is doing. If i had money in that i'd be dumping quicker than flies on **** as well.

I would NEVER invest in a company that I can't trust.

I mean, sure, if you think the dude who runs the twitter account has any pull. More likely, they're just some low level staffer.

EDIT: The 24 hour on Blockfolio was roughly even when this news broke. We went to -10% and are already back up to -6%. Too bad I didn't have Binance up to take advantage of this "scandal".

 

[Gardner McKay]

Honestly though, MAJOR RED FLAG if that is what a company is doing. If i had money in that i'd be dumping quicker than flies on **** as well.

I would NEVER invest in a company that I can't trust.

I dunno. I don't think it is THAT big of a deal. Yeah I am biased as a WTC owner.

 

[Gardner McKay]

WTC got caught faking winners for their contest. Price has been dumping since.



In other news, Charlie Lee announced that he now owns some NANO!!

So Charlie Lee unloads all of his LTC (IIRC) and now owns some NANO? Glad I re-bought when I did. I truly believe NANO will be top 5 on CMC by the end of the year.

 

[void]

I dunno. I don't think it is THAT big of a deal. Yeah I am biased as a WTC owner.

I don't know.. I'd definitely think twice if a coin I owned pulled a similar stunt. I feel like it would be much harder to fully trust them.

 

[What the Faulk]

I don't know.. I'd definitely think twice if a coin I owned pulled a similar stunt. I feel like it would be much harder to fully trust them.

I think that's an absurd notion and you're buying into what you've been sold about WTC (again). Unless you think the head dudes are running some $50 scam via their Twitter account instead of working on the project, this is an lol move but says nothing about the trust of the project.

 

[void]

I think that's an absurd notion and you're buying into what you've been sold about WTC (again). Unless you think the head dudes are running some $50 scam via their Twitter account instead of working on the project, this is an lol move but says nothing about the trust of the project.

I feel like you're very emotionally attached to this project and aren't letting yourself see the potential implications of this big blunder. Trust is extremely important in crypto and I think it would be naive to think that this incident won't hurt their reputation in that regard. I'm not saying that it won't ever recover from this (it absolutely will) but to scoff at it and act like it's no big deal is, once again, very naive.

 

[What the Faulk]

I feel like you're very emotionally attached to this project and aren't letting yourself see the potential implications of this big blunder. Trust is extremely important in crypto and I think it would be naive to think that this incident won't hurt their reputation in that regard. I'm not saying that it won't ever recover from this (it absolutely will) but to scoff at it and act like it's no big deal is, once again, very naive.

Lol yeah, okay. I feel like you're just mad that you still thought it was a scam back when it was talked about here at around $1. I think you have a hard time separating fact from fiction and putting things in proper perspective. See how I can also make judgments about a person based on a few forum posts?

Think about this rationally. Walton ran a contest in which it voluntarily gave away $10k worth of its coins. What does it stand to gain by rigging this? 2 WTC for one of its team, which was one of many similar prizes? They all almost certainly own tens of thousands each, and would benefit exponentially more by putting forth a good product. So this wasn't some sort of masterminded plan, which would be a huge risk for minimal reward. So what was it? The prevailing theory is that the social media manager -- who, again, is unlikely to be high-level at all -- was one of the many winners, and forgot to log out of the Walton account. This is obviously a problem, but it has nothing to do with trust unless it was explicitly stated that they may not participate. Ultimately, it's suffering because people are by and large pretty stupid and just regurgitate whatever it is that they're told, regardless of the veracity or magnitude of the event, as long as it conforms to whatever they already believe.

I fail to see how trust even factors in here.

 

[void]

Lol yeah, okay. I feel like you're just mad that you still thought it was a scam back when it was talked about here at around $1. I think you have a hard time separating fact from fiction and putting things in proper perspective. See how I can also make judgments about a person based on a few forum posts?

I had reasons for thinking it was a scam way back when. I personally know one of the guys that was in charge of the initial pump as well as setting up all of WTC's social media accounts. There was a lot of shady shit going on back then and it was even worse during the China ban fiasco. People who worked at Walton personally asked him and his crew to spread as much FUD as possible in order to push the price down so that the government wouldn't be as hard on them. That's where the delisting rumors came from. The WTC team promised these guys compensation but they never actually got a penny from it. They were completely dropped and ignored once the dust settled.

Once things finally started clearing up it became obvious that the project was in fact legit but I still stand by my decision not to invest early on. There were too many red flags for me to ignore. There's no regrets on my part, nor am I "mad" or whatever it is that you think. Crypto is a bit like gambling.. you win some, you lose some. But like I said, getting emotionally attached to a coin and/or past investment decisions is the worst thing you can do. All it does is cloud your judgement and f*** up your decision making.

Think about this rationally. Walton ran a contest in which it voluntarily gave away $10k worth of its coins. What does it stand to gain by rigging this? 2 WTC for one of its team, which was one of many similar prizes? They all almost certainly own tens of thousands each, and would benefit exponentially more by putting forth a good product. So this wasn't some sort of masterminded plan, which would be a huge risk for minimal reward. So what was it? The prevailing theory is that the social media manager -- who, again, is unlikely to be high-level at all -- was one of the many winners, and forgot to log out of the Walton account. This is obviously a problem, but it has nothing to do with trust unless it was explicitly stated that they may not participate. Ultimately, it's suffering because people are by and large pretty stupid and just regurgitate whatever it is that they're told, regardless of the veracity or magnitude of the event, as long as it conforms to whatever they already believe.

I fail to see how trust even factors in here.

I don't think you understood my point. Crypto is all about perception. Whether it was an "honest" mistake or not is irrelevant. The general sentiment going around right now regarding this is issue is not good. It will blow over eventually but you can't deny what's happening.

 

[What the Faulk]

My decision making has been excellent, thanks. I don't need you making judgments about me being "emotionally attached" based on a few forum posts.

I understood your point, you just changed what it was. I never "denied" there would be blowback. I took issue with you saying you could not trust them based on some bullshit you were sold (again, apparently). This is what you said

I don't know.. I'd definitely think twice if a coin I owned pulled a similar stunt. I feel like it would be much harder to fully trust them.

This makes no sense on any level. They did not "pull" anything. There was no stunt. This isn't an issue of trust. Somebody made an lol worthy mistake, allowing an opening for the VEN kids to do their thing because both of these communities are toxic toward one another, and since people are dumb and panicky, the price fell. All of that is obvious and was obvious to happen, hence me saying I wish I had Binance up to take advantage of the swing. This will be zero issue moving forward as it has nothing to do with anything related to the project, its potential, or its partnerships.

 

[void]

Wait, what does Vechain have to do with this? You've really lost me now.

All I said is that I'd feel uneasy if something similar happened with a coin that I owned. That's just how I feel and I'm not sure what you mean that I'm basing this on "shit that I was sold".. ? The story I told you is 100% true, I witnessed it my own eyes and was (and still am) in contact with one of the main guys behind the scenes. It's totally fine if you don't believe me.

Anyways, not sure why you're getting so up in arms about this, especially if you have a lot of confidence in the project. At the end of the day we're both entitled to our opinions.

 

[What the Faulk]

God, reading the Walton subreddit, it's obvious how toxic the VEN/WTC "rivalry" is. Lies, manipulation, censorship, brigading, coordinated attacks, etc. It's all so childish.

I didn't get annoyed until you baselessly said I was "emotionally attached" and said I was blind toward the potential implications, neither of which are true. I don't give a shit about WTC other than the fact that it makes up most of my portfolio. I'm still way, way up from my initial buy. If I thought this was a big deal, I would have done something and moved on to the next, still up huge, but I don't and didn't because it isn't.

 

[YNWA14]

So Charlie Lee unloads all of his LTC (IIRC) and now owns some NANO? Glad I re-bought when I did. I truly believe NANO will be top 5 on CMC by the end of the year.

My portfolio right now is 40/40/10/10 in NANO, Oyster Pearl, HelloGold (lol) and Icon. It's going to be a good year.

 

[Gardner McKay]

I feel like you're very emotionally attached to this project and aren't letting yourself see the potential implications of this big blunder. Trust is extremely important in crypto and I think it would be naive to think that this incident won't hurt their reputation in that regard. I'm not saying that it won't ever recover from this (it absolutely will) but to scoff at it and act like it's no big deal is, once again, very naive.

Trust is important anywhere, not just in crypto. This is a simple PR issue that is equivalent to a fart in a hurricane.

In an industry where pump and dumps happen daily, people create ICO's and run off with millions of dollars, where projects like Po.et have a $125 million dollar market cap and try to solve a problem that isn't really a problem, a PR snafu from project that has otherwise been outstanding is not a big deal in my opinion.

I don't thing @What the Faulk is emotionally attached. I don't believe I am either. When you trade with emotion, you lose.

There is nothing wrong with you not investing early on. If you weren't comfortable, kudos to you for sticking to your values. But you have to realize that your initial skepticism may be driving you towards the very thing you accused someone else of. You aren't emotionally attached but your emotions seem to be guiding you towards your conclusion.

People called Ethereum a scam. They called NEO a scam. Bitcoin. Litecoin. Nano. Verge. Ripple. Almost every project (not all) at some point has had an issue that has created some suspicion. Some have had FUD thrown at them for no reason at all. It is natural during early phases of business development to have issues. You have so much going on that you lose your span of control and these things happen. Is it possible you are right and we are wrong? Absolutely. That is why we are here. Discussion & debate

 

[YNWA14]

Well I mean...I wouldn't say it's a 'fart in a hurricane'. The price has dropped pretty significantly and this is the 'best' post in the apology discussion:

Why would a supply chain and logistics company even host a Valentine's Day contest? Why would the team member act in such a childish manner? Why did the team member say Walton in the third person yet he's part of the team? Why did he get excited about 2 Walton? Why did you allow team members to compete in the first place? Why did this response only come now and not hours ago? Why is there censorship on telegram and Reddit regarding people fudding Walton? Why has Mainnet been delayed twice? Why did the accounts that did win only have a few followers with majority of posts about Walton? Why is this the second PR disaster in the last few weeks? As you can see a lot of unanswered questions, however I can make my own conclusions.

It's just a weird situation that gives people pause, and that's never good. Whether it affects them long term or not.

 

[Gardner McKay]

Well I mean...I wouldn't say it's a 'fart in a hurricane'. The price has dropped pretty significantly and this is the 'best' post in the apology discussion:



It's just a weird situation that gives people pause, and that's never good. Whether it affects them long term or not.

I don't know I would necessarily agree that it is a significant price drop. In a market this volatile, 10, 15, 20% drops/gains in a day are fairly normal. I wasn't aware of this being the second PR disaster in the last few weeks? What was the other one?

 

[What the Faulk]

Well I mean...I wouldn't say it's a 'fart in a hurricane'. The price has dropped pretty significantly and this is the 'best' post in the apology discussion:



It's just a weird situation that gives people pause, and that's never good. Whether it affects them long term or not.

Why would they hold a contest? Because that's how marketing works.

Why would the team member act in such a childish manner? Because he's probably young. And define "childish".

Why did he use the third person? Because he meant to post it from his personal account.

Why did he get excited about 2 WTC? Because he won something for free.

Why did they allow the team member to enter? This is the only valid question, and it's not even that significant unless they lied about their eligibility.

Why did the response come now? Because he happened in the middle of the night over there.

Why is there censorship on reddit? I don't know, ask the unaffiliated mods who have to wade through hundreds of VEN kids shitposting.

Why has mainnet been delayed? Because shit happens, and this has nothing to do with what went on, and wherever this came from obviously isn't just asking questions but has an ulterior motive.

Why did the accounts that did win only have a few followers with majority of posts about Walton? Because they're nobodies.

Why is this the second PR disaster in the last few weeks? I will second needing an explanation on this.

This is all dumb as hell, and if you're buying it, you're just not using your brain.

 

[YNWA14]

I don't know I would necessarily agree that it is a significant price drop. In a market this volatile, 10, 15, 20% drops/gains in a day are fairly normal. I wasn't aware of this being the second PR disaster in the last few weeks? What was the other one?

I'm not sure. I was just copying the highest rated post. I haven't been following WTC too closely other than it being on my watchlist (VEN btw isn't even on my radar due to the zealots on reddit...good or bad). It is down $3 over the last 24h and the only double digit decrease on my watchlist over the last 24h (and it's still dropping).

Again I'm not saying it's going to sink the ship or anything like that. I'm just saying it definitely will give some people cold feet and that could easily have a knock on effect at this stage of development for WTC and crypto in general.

 

[Gardner McKay]

Come on guys and gals. We can have a mature discussion without the mud slinging.

 

[Gardner McKay]

WTC seems to be stable in the $19 range. NANO is continuing to surge, up to nearly $17. ETH seems to be stuck.

 

[Kestrel]

Question for you guys and gals... any of you know anything about Burstcoin, and/or have feelings about it? I'm not looking to buy, but I'm wondering if it's worth setting up my unused hard drive space to mine for it. As far as I can tell, it isn't a big mining earner, but on the other hand, if it has any reasonable potential, there's nothing wrong with mining some and sitting on it.

 

[Gardner McKay]

Question for you guys and gals... any of you know anything about Burstcoin, and/or have feelings about it? I'm not looking to buy, but I'm wondering if it's worth setting up my unused hard drive space to mine for it. As far as I can tell, it isn't a big mining earner, but on the other hand, if it has any reasonable potential, there's nothing wrong with mining some and sitting on it.

I dunno. Website looks good. According to the website, it doesn't use a ton of energy to mine so your cost won't be high. Peaked at I think 11c? If it gets that high again you will go 2.5x where the price is now. Not bad, especially when you consider the low energy consumption.

 

[Kestrel]

I dunno. Website looks good. According to the website, it doesn't use a ton of energy to mine so your cost won't be high. Peaked at I think 11c? If it gets that high again you will go 2.5x where the price is now. Not bad, especially when you consider the low energy consumption.

Thanks for taking a look!

 

[The Crypto Guy]

WTC seems to be stable in the $19 range. NANO is continuing to surge, up to nearly $17. ETH seems to be stuck.

Lots of things have been stuck for about 3 weeks, definitely not a bad thing.. ether was stuck for about 2 months around $300 before it exploded last time

 

[Gardner McKay]

Lots of things have been stuck for about 3 weeks, definitely not a bad thing.. ether was stuck for about 2 months around $300 before it exploded last time

No I agree. Maybe I just pay attention to ETH because I have so many friends that own it. They keep calling me asking when its going back to $1,000.

 

[Ainec]

I dumped my WTC

rigging your own contests is what scumbag gamers with a decent sized following will do.. pathetic mistake