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

News
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.
Crypto Trader Tone Vays Mocks Steem Drama, Calls Platform Scam Since Inception
Cover image via tonevays.com
Contents

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 (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

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.)