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In this video, I discuss the collapse of Steem, and how I believe that Justin Sun colluded with large crypto exchanges to steal Steem users’ coins.
It is easy for a proof of stake network to devolve into collusion, vote buying, and cartels. This makes any of its security or private property guarantees completely unreliable.
Knowing this history, how can anyone own a proof of stake coin and still sleep at night?
Not investment advice! Consult a financial advisor.
Ethereum Is Banker Coin (Shocking Revelations):
Will BlackRock Take Over Ethereum?
Steemit:
https://en.wikipedia.org/wiki/Steemit
List of STEEM owners who got their coins stolen:
https://cdn.decrypt.co/resize/1536/wp-content/uploads/2020/05/combine_images.jpg.webp
Steem network to seize $5 million from its own users:
https://decrypt.co/29416/steem-network-to-seize-5-million-from-its-own-users
The exchanges collude with Justin Sun:
https://decrypt.co/21108/did-binance-just-help-take-over-steem-network-justin-sun
Ethereum Merge No Longer Expected in June:
https://www.coindesk.com/business/2022/04/13/ethereum-merge-no-longer-expected-in-june/
Old predictions of Ethereum moving to proof of stake:
https://qz.com/1171977/ten-2018-predictions-from-the-founder-of-the-blockchain-research-institute/
Justin Sun bids on Twitter:
I believe @Twitter is far from unleashing its full potential, thus I am offering $60 per share to take the platform private. But we fully support the reform initiatives of @elonmusk and would love to see Twitter becoming crypto-native and Web3 friendly.
— H.E. Justin Sun 🅣🌞🇬🇩 (@justinsuntron) April 14, 2022
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#Ethereum
#ProofOfStake
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39 Comments
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Thanks again Matthew for another informative video! You are my go to video for all things BTC every day! I hope to be purchasing your University courses on BTC soon as I'm interested in running my own node!
Stolen by Japanese exchange, BITPOINT. Never use it
This is insane and eye opening for sure!
Dan Larimer of EOS and Steem attacked me on Twitter back in 2019 for questioning his anti-vax ramblings of a run of the mill megalomaniac. He even challenged me to a debate on the topic and then of course ran and hid like a little witch. 😂 Shitcoiners are like roaches. You kind of feel sorry for the foot soldiers, but you know deep in that wall somewhere is a Dan Larimer roach plotting to take over your entire neighborhood.
Something similar is happening with "onchain governance" on the Juno network. People voting to burn the coin of a whale because it "cheated" an airdrop, but the whale can vote against it. The whole drama is ridiculous, and kinda proves onchain governance is bullshit at the end of the day. Would have been much simpler by everyone running the fork they want to run, just like bitcoin.
I thought you had a video on Ethereum and it’s ties to WEF? Am I wrong or was it taken down?
I’m thinking of running a full node in California where electricity is very expensive. I’d like to get solar panels and run the full node when I’m out of town or perhaps overnight (Tesla powerwall). Would this even be a contribution or would the intermittency make the whole attempt futile?
exactly!
I'm very happy that they were able to accomplish this fraud in a ESG friendly, carbon neutral way
Investing in BTC is an emotional rollercoaster. Thinking I have too large a % in it.
To say a takeover can never happen to PoW is kind of incorrect. PoW can fall victim to a 51 % attack, so it’s not perfect. I do realize that bitcoin is such a large network of full nodes that it’s very impractical but other PoW cryptos might be vulnerable…but other cryptos are just donkey basketball so buyer beware
Glad you have some liking for Elon Musk even though that is in comparison to Justin Sun. Like choosing between two devils, eh?😂
Thank you Matt – I’ve learned more from you than anybody about what is happening behind the curtain. Hugely, am appreciative of all you do.
I was wondering if you have ever thought about creating a mirror channel on Rumble? Me and others are lookingto move off of all Big Tech asap.
Thank you 🙏
Crypto Dictator, catchy😁
4:52 laughed so hard hahaha
Just got my Bitcoin full node up and running last night! 🍾🍾🍾
Great Re Cap Thank.
Tnx
Matt, Are you mining BTC, or have you ever considering doing it, just order my 1st BTC mining rig this week, would like to hear your opinion on the matter.
Love your channel Matthew 👌🏽
Coinbase has ETH I decided to stake. Now I'm stuck with it until 2.0 is released. I read this morning that it's going to be another 2 month delay. 🤯
Why did I do that?? Ugggg
I’m of <the opinion that those who leave it to market dynamics to determine when to trade or not are either new to the Market or are probably just naïve. The market has seen far worse times than this, enlightened traders are taking advantage of the dip and pumping even more towards trading sessions. My advice to new investors: More emphasis should be put into day trading as it is less affected by the unpredictable nature of the market. Trading went smooth for me as I was able to raise over 8 BTC when I started at 1.7 BTC in just few weeks of implementing trades with signals and insights from expert Altman Josh. For crypto related issues. Josh can be reached on ͲeIєɠɾαm👉@AltmanJosh..
Problem is Trezor doesn’t work. I did everything by the book. Cut and paste…still my crypto never showed up…no way to recover it. I don’t trust Trezor hardware or exchanges.
Proud bitcoin maximalist here.
Great update
I think it depends on platform. I firmly believe in Bitfinex exchange
Love your analysis, Matt! Kudos!
Loopring does not employ the Proof-of-Work (PoW) or Proof-of-Stake (PoS) consensus procedures. Instead, it uses a Loopring protocol based on a three-layer Merkle Tree. This method is more secure and allows for thousands of transactions per second.
Coinbase stole my girlfriend’s cryptos. Long story, but they definitely stole it.
Awsome content mate!<looking at the chart, short term momentum in BTC has firmly shifted pointing downward, ..When these reports are either bullish or bearish, take some quantities to trade,than to hodl "Keep it simple " even if the Feds are thinking of policy decisions, that bear/bull correction was the best thing that happened to me ever since i started trading with Mr Nicholas Jon Weachter, who uses amazing tips in reviewing all charts, trade and techniques for helping me earn 11 Btc when I started with 2.4 BTC in just few weeks..>
Thank you 👏🏾 So many new people in "crypto" have no idea about the real-world trade-offs of PoS.
First DemonicChaos
Second DemonicOrder
Third They are destroyed at 2nd Coming
Free Life Insurance of the Born-again
JP Morgan is gonna be all over that shit. I saw an article bout Fidelity and there 4.2 trillion going into ETF, maybe they buy it up. wouldn't it be good to get in before it they do. Elon rocks btw.
<Always good to hear your thoughtful and logical analysis. Do yourself and family a favor and stop stressing the day to day headlines so much and instead become a long term investor. Your returns will be better as well, and if you’re unable to stop being a workaholic, trade a small percentage of your portfolio rather than going in and out every couple weeks trying to time the market 👌 trading went smooth for me as I was able to raise over 11 BTC when I started at 3.8 BTC in just few weeks implementing Bobby Lucas's daily trading signals and tips.
You just need to choose a reliable exchange. I chose Bitfinex and I'm not worried about my money
But transferring your crypto from an exchange to your wallet means you cannot trade, at least not efficiently…..
Had my money on blockfi and left after making $1000 dollar profit for simply keeping my money there. All my crypto is on ledger now. Safe and secure
👏🏻👏🏻👏🏻👏🏻👏🏻