Crypto Trader Tone Vays Mocks Steem Drama, Calls Platform Scam Since Inception

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Sun, 05/24/2020 - 14:48
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Vladislav Sopov
Seasoned trader and analyst Tone Vays knows no mercy for the victims of the new Steem vs Tron drama. He is remembered for his profound skepticism of Steem products.
Crypto Trader Tone Vays Mocks Steem Drama, Calls Platform Scam Since Inception
Cover image via tonevays.com
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Yesterday, Binance, the world-leading exchange platform, added fuel to the Steem drama by announcing their support for the highly controversial Steem Hard Fork 23. Crypto trader Tone Vays is not the kind of individual who cared about the dozens of rich Steemians who are subject to blacklisting.

Mount Stupid

Mr. Vays said that he treated SteemIt as a scam from the very beginning of its popularity. He also accused the platform for unjustly enriching their themselves for his work.

Mr. Vays recalled how he was ridiculed for stating that the essence of Steem products were a scam. He also highlighted the centralized nature of Steem Network website.

Tone Vays illustrated his acerbic tweet with the popular Dunning-Kruger effect chart for understanding blockchain technology. In terms of cognitive bias, SteemIt is near the peak of 'Mount Stupid', which means that there is a total misunderstanding that is accompanied by an ultimate level of confidence.

In conclusion, Mr. Varys does not 'feel bad' about the potential losses that Steemians will bear as a result of Steem Hard Fork 23.

New Act of Drama

This hard fork was a result of another stage of confrontation between two groups of STEEM holders, i.e. the supporters and opponents of its acquisition by the Tron Foundation. 

According to the agenda of Steem Hard Fork 23, the period of unstaking will be reduced to 4 weeks, and 65 accounts holding 23.6M STEEM (about $5M) will be blacklisted and removed from the blockchain.

Yesterday, Binance announced that it will support this controversial upgrade despite the unwillingness to implement censorship into blockchain-based systems.

Many members of the crypto community saw this as an act of corruption and even threatened to sue Binance with class-action lawsuits.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
Cover image via stock.adobe.com
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)