Cryptocurrencies Part II - No more forks for you
- Thread starter Gardner McKay
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Kestrel
Registered User
- Jan 30, 2005
- 5,814
- 129
It sure has been. Someone's a little too invested in being right - it's not worth engaging anymore.The last couple of pages have been an amazing read
The cult-like mentality that the crytpo world seems to create in some people is fascinating to observe.
What the Faulk
You'll know when you go
Agreed. I mean, when you're arguing with literal conspiracy theorists who want to make up elaborate stories without any supporting evidence, it can be pretty annoying. The icing on the cake is the sarcasm and condescension, though. Like, really dude? You're gonna do that from fantasy land? With EMOJIS? I mean, whatever, I've tried to help you see reason but if you're gonna go that route you're probably far past listening to logic, so better the ignore list grows by one.
ScottishCanuck
Registered User
"A Waltonchain team member was among the winners and excitedly tweeted using the wrong profile".
Had to laugh at that. Yeah, which happened to be the Twitter handle for the coin itself. Sure.
It doesn't show that it's a scam, obviously. It does indicate is that they're prepared to utilise unethical methods to try and gain new followers, promising contest prizes that appear not to exist. And now they're trying to dig themselves out of a hole by implying that a team member, who just happened to be in charge of updating the main Twitter account, won.
It's a PR disaster and comes across as extremely unprofessional to say the least.
Had to laugh at that. Yeah, which happened to be the Twitter handle for the coin itself. Sure.
It doesn't show that it's a scam, obviously. It does indicate is that they're prepared to utilise unethical methods to try and gain new followers, promising contest prizes that appear not to exist. And now they're trying to dig themselves out of a hole by implying that a team member, who just happened to be in charge of updating the main Twitter account, won.
It's a PR disaster and comes across as extremely unprofessional to say the least.
What the Faulk
You'll know when you go
First of all, the contest prize was 2.1 of the 500+ WTC up for grabs, so you should probably read up on things you want to laugh at. By all accounts, those other prizes exist and were awarded fairly. Second of all, it really is quite amazing to me how many people think "the twitter dude" is an important job with the need for management by high-level employees within the company like there aren't hundreds of examples of brands misusing the service. Social media managers are not well paid for the access they have, and almost doubly so for fledgling companies like Walton.
It is a PR disaster and it does come across as extremely unprofessional, but unethical it is not. Put things in proper context.
ScottishCanuck
Registered User
The value of the prize is irrelevant. What it does is call into question whether any of the 500 coins are truly "up for grabs".
Sure, you can dismiss the role of the social media manager all you like, but at the end of the day 'the twitter dude" is responsible for publicising and even running these contests to begin with.
What the Faulk
You'll know when you go
The point of posting that was not the prize total (although, sure, a company with a bunch of partnerships with the likes of China Mobile and China Telecom etc is gonna worry about saving themselves 500 WTC (a thing they control, and only 10% of a GMN) for a little PR rather than doing it all legit), but it was to show how many other winners there were. I've seen estimates as high as 50% of the people that entered won. Sure, it could call into question the rest of the winners, but there are plenty of posts on Reddit from established accounts claiming to have won. They would rather go through the effort of coordinating a fake campaign than to hold this contest above board? That doesn't make any sense. They have other work that needs doing.
Right, they do have a lot of responsibilities and could cause a tremendous f***up by doing/saying the wrong thing (as evidenced by what happened here), but that doesn't mean they are an integral part of the team (if it's even run by one person -- normally a lot of people have access to the twitter account). I just fail to see how the social media manager being a winner is a smoking gun of a fake/rigged contest.
If there was a 50% chance of winning, and the SMM entered because they were not prohibited from doing so, it's neither likely nor unlikely that they would win. The reaction -- us vs. you and the use of emojis -- is totally normal when you're not acting in your official capacity as WTC spokesperson.
* * *
Okay, I am for real done talking about this this time. The conspiracy theorists who do believe this is all a fake rigged scam can have the last word. You should have sold when the news broke (as my second post on this topic stated), but if you're still thinking of staying on the sidelines, well, you've gotta weigh that against the reasons you bought into WTC in the first place. Those things haven't changed.
Ainec
Panetta was not racist
- Jun 20, 2009
- 21,784
- 6,429
I think calling me a conspiracy theorist for not going with your line of thinking is BS
This is an unregulated market. Development teams can do whatever they want with their coins.
I don't see this as a big deal compared to say Confido but this does show incompetence on the marketing side for WTC.
If you choose to stay away from WTC then that's fine and if you hold then that's fine as well. I don't think anyone here will lose money based on either choice.
Disclaimer: I don't hold WTC anymore. Nothing against it but I just like other projects more at this time.
I don't see this as a big deal compared to say Confido but this does show incompetence on the marketing side for WTC.
If you choose to stay away from WTC then that's fine and if you hold then that's fine as well. I don't think anyone here will lose money based on either choice.
Disclaimer: I don't hold WTC anymore. Nothing against it but I just like other projects more at this time.
It's a very big deal. It's one thing for some random coin with anonymous devs to pull a scam but for a well known high-cap company with so many "partnerships" to pull something like that to save a few tokens raises some eyebrows. That's one of the reasons western governments and regulatory bodies will NEVER work with Chinese companies when it comes to implementing blockchain technology in the tracking and analysis of medicines, food, and other vital resources as they make their way through the supply chain. I lucked out and sold Walton near ATH and now I'm almost all in on Ambrosus. The more I look into it the more it looks like it's going to be the European Vechain except it's still at a fraction of the marketcap. One thing is for sure, when institutional money starts flowing into the market, it's only going to flow into companies that follow regulations and have their things in order.
Gardner McKay
RIP, Jimmy.
I miss the days when people could see things different ways and everyone was alright with it. To each their own. When the verdict was rendered, the result was a simple I told you so. People accepted their loss and moved on. Now? Everyone has to be right. Why? Because this is the internet. God forbid you are wrong on the intrawebs. Then, when someone is wrong, they don't just accept it and move on anymore. They move the goal posts, clinging to some last ditch effort that they could be right. Because again, this is the internet and being wrong on the internet is about as bad as death.
This isn't just with crypto. This is with everything.
When Walton blows up a la Bitconnect and is nearly worthless, bring on a buffet of crow for @What the Faulk and I. I've done some competitive eating so if he can't eat his full share, I will help out. Our money will have disappeared into the void and you can all take great pleasure in knowing you were right.
When this is looked at as a non issue in 3 months and Walton is $50+, we will make sure to do our "we were right" happy dance all the way to the bank. We will take pleasure in knowing we were right.
While one of those scenarios is playing out, there are 1,500+ other cryptocurrencies that will be up, down, sideways in that same time frame. Coins will soar, and coins will tank. Hopefully the market goes on another big run and regardless of what happens with Walton, we will all be profitable enough to where no one gives a **** anymore about little old WaltonChain.
This isn't just with crypto. This is with everything.
When Walton blows up a la Bitconnect and is nearly worthless, bring on a buffet of crow for @What the Faulk and I. I've done some competitive eating so if he can't eat his full share, I will help out. Our money will have disappeared into the void and you can all take great pleasure in knowing you were right.
When this is looked at as a non issue in 3 months and Walton is $50+, we will make sure to do our "we were right" happy dance all the way to the bank. We will take pleasure in knowing we were right.
While one of those scenarios is playing out, there are 1,500+ other cryptocurrencies that will be up, down, sideways in that same time frame. Coins will soar, and coins will tank. Hopefully the market goes on another big run and regardless of what happens with Walton, we will all be profitable enough to where no one gives a **** anymore about little old WaltonChain.
What the Faulk
You'll know when you go
I will be happy to admit I was wrong if we are presented with new information. I just don't see a reason to panic or draw conclusions about something that hasn't been proven to be true. Crypto is half about navigating false FUD (I kinda hate that term), and I think that's what's happening here. The flub was real, and the price took a hit because of it, but I don't think you have to read into it more than what we've been presented.
In any event, this morning the dollar value reached almost as much as before this incident based on the rumors of an Alibaba partnership and is up almost 13% on the 12-hour. While I would love it to be true, I can't verify it to exist, but you can see how rumors can wildly affect the price one way or the other. I do think, even if you want to believe what happened was a "scam" or whatever other word you choose, it doesn't seem like it's going to have a lasting impact. I think it's a mistake to exit WTC over the long term as the outlook hasn't changed.
In any event, this morning the dollar value reached almost as much as before this incident based on the rumors of an Alibaba partnership and is up almost 13% on the 12-hour. While I would love it to be true, I can't verify it to exist, but you can see how rumors can wildly affect the price one way or the other. I do think, even if you want to believe what happened was a "scam" or whatever other word you choose, it doesn't seem like it's going to have a lasting impact. I think it's a mistake to exit WTC over the long term as the outlook hasn't changed.
Gardner McKay
RIP, Jimmy.
People keep telling me about Elastos. $77ish per token. Only 6.5 million circulating. Anyone here have any thoughts?
ScottishCanuck
Registered User
I don't think anyone is hoping for you guys to be wrong or for Walton to flop. Ultimately I hope that everyone in this thread does well out of this while the opportunity is available.
I, personally anyway, was just commenting on the shadiness of the whole fiasco. That doesn't mean I think WTC is useless or a scam.
I, personally anyway, was just commenting on the shadiness of the whole fiasco. That doesn't mean I think WTC is useless or a scam.
I think pretty much everyone agrees and has agreed on this from the get go. Certain people just took it way too personal and turned the whole thing into an unnecessary pissing contest.
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What the Faulk
You'll know when you go
Certain people made it personal by using charged language. I wonder why other people took it personal?
Gardner McKay
RIP, Jimmy.
I know you aren't. I hope that my post wasn't taken that way as I absolutely didn't intend that. Part of it was tongue in cheek. Part of it was serious.
ScottishCanuck
Registered User
Seen a lot of bull run predictions in the last couple of days. Never know what to expect with Bitcoin, but I'm interested to see if it can break $12k again.
Bought some WTC when the Alibaba rumors came out early this morning. I thought I'd post this here just to show that I'm not some biased hater like some people think. The only thing I'm emotionally invested in is $$$$$$$$$$ and if the Alibaba rumors are true then that means more money for me.
YNWA14
Onbreekbaar
- Dec 29, 2010
- 34,543
- 2,560
Part of what I don't understand is why the market is even influenced so much by Bitcoin still. Apart from being 'the first' there's just so many coins/tokens now that do everything better just from a technical perspective...not even factoring in the environment and other issues.
The sooner bitcoin goes away entirely the better off crypto will be.
The sooner bitcoin goes away entirely the better off crypto will be.
What the Faulk
You'll know when you go
Because BTC is still the entry point for pretty much everything. You have to buy bitcoin to buy many altcoins.
Gardner McKay
RIP, Jimmy.
See below.
Bingo. What many people don't realize is that the major run up with ETH & LTC also coincided with those two coins being listed as trading pairs on more and more exchanges.
As long as BTC is still the main trading pair though, it will always influence the market.
You'd be stupid to wish bitcoin goes away. If bitcoin goes down everything will collapse.
What the Faulk
You'll know when you go
^ I think they meant more along the lines of the heavy reliance on BTC where everything follows its price in some manner or another, which I and I'm sure most people would agree with.
Yup, and Coinbase reiterated just yesterday that they have no plans to add more coins, which means fewer gateways, and I can't see other exchanges like Binance seeing an incentive to add more pairs without this. Just another mark in the corner of DEXs.
Yup, and Coinbase reiterated just yesterday that they have no plans to add more coins, which means fewer gateways, and I can't see other exchanges like Binance seeing an incentive to add more pairs without this. Just another mark in the corner of DEXs.
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