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

Sun, 05/24/2020 - 14:48
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.
Cover image via

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.

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 (, Monoreto, Attic Lab etc.)

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy