When Bitcoin Maximalists are Promoting/Shilling an Altcoin

[Darker45]

Just the other day, a SEC-approved tokenized IPO was launched by INX, a crypto exchange. The token is built on the Ethereum network.

Everything seems pretty normal. But no, this is a whole different security token not so much for its features as the people who are promoting/shilling it and even sitting as Advisory Board Members. They are no less than Bitcoin maximalists who openly despise altcoins as shitcoins including ETH itself. And now, all of a sudden, this promotion.

A whole controversial drama has ensued.

Stefan Jespers, known on Twitter as WhalePanda with the description: "Toxic Monetary Bitcoin Maximalist"^[1] and whose Linkedin profile states that "He will not give you investment advice and he will not endorse your ICO."^[2] recently tweeted:


(https://twitter.com/WhalePanda/status/1297933116779175938)

Meanwhile, the cyberphunk, Jameson Lopp, creator of statoshi.info, bitcoin.page, lightning.how, has also tweeted:


(https://twitter.com/lopp/status/1298262107478081547)

It turned out the two, among other Bitcoin maximalists which include Samson Mow, chief officer of Blockstream, and Alena Vranova, founder of SatoshiLabs, are advisors of the project.^[3]


(https://cointelegraph.com/news/bitcoin-maximalists-accused-of-shilling-an-sec-cleared-token)

This decision made by these quite popular Bitcoin influencers and enthusiasts did not bode well to some Bitcoin fans.

Hodlonaut.hodl on Twitter did not mince words in his disappointment:


(https://twitter.com/hodlonaut/status/1298304878293454848)

(https://twitter.com/hodlonaut/status/1298328894559395845)

(https://twitter.com/hodlonaut/status/1298341888488083457)

(https://twitter.com/hodlonaut/status/1298370374665674752)

Replies were also pouring down hard on Jameson Lopp's Tweet, some of which he courteously answered:





(https://twitter.com/lopp/status/1298262107478081547)

And Cøbra, Bitcoin.org's custodian, spoke of it as a kind of hypocrisy:


(https://twitter.com/CobraBitcoin/status/1298398992401870848)

[1] https://twitter.com/WhalePanda
[2] https://be.linkedin.com/in/stefan-jespers-64437a1b
[3] https://cointelegraph.com/news/bitcoin-maximalists-accused-of-shilling-an-sec-cleared-token

[1714201087]

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[mk4]

Oh boy it's my time to be controversial again.

In my opinion: I don't see anything that much wrong with what they're doing. Sure they're pretty much shilling it, but they're selling ownership and equity of a real legitimate and regulated business, not some utility altcoin that gives you discount on exchange fees or something. It's no different than having an IPO like what typical stocks have done in the past. The only difference in this case is that it's done through the Ethereum blockchain for transparency(not decentralization) purposes.

Would people be giving them crap if they've done it the traditional IPO way? I don't think so.

But then again, I just don't like how these people frequently crap on Ethereum and then end up using the Ethereum platform. Though Samson Mow also said on Twitter that they could move to RSK or Liquid once they are able to.

I expect to get hate from this opinion, but yea. Let's argue like adults.


EDIT: P.S. I could be wrong in some parts of what I've said because it seems like "investors" do have a discount on trading fees. Also, I'm obviously not an investor in this thing.

[logfiles]

But then again, I just don't like how these people frequently crap on Ethereum and then end up using the Ethereum platform. Though Samson Mow also said on Twitter that they could move to RSK or Liquid once they are able to.

This is exactly why I hate hypocrites. They trash something they are not part of and all of a sudden an ERC20 token is okay just because they have acquired something in their pockets. It shows how their judgement is easily corruptible.

What cobra twitted was spot on.

[mk4]

This is exactly why I hate hypocrites. They trash something they are not part of and all of a sudden an ERC20 token is okay just because they have acquired something in their pockets. It shows how their judgement is easily corruptible.

What cobra twitted was spot on.

Yeap. Hence why I dislike Samson Mow quite a bit. I personally don't like Ethereum either, but I don't shit on it on the daily either. I just really think it sucks in it's current state. Jameson Lopp is a more reasonable guy imo.

[BitcoinFX]

I love not being a Bitcoin Maximalist.

It gives me the wherewithal to be proud to say that I have never invested in any shit-tokens (and/or promoted any ICO, whatsoever).

I'm free to use privacy coins and good altcoins etc.,

Tokens are not coins.

Bitcoin is not ded! Long live the King! Long live Bitcoin (BTC)!

...

Full disclosure: I was once 'gifted' a Crypto Kitty.  

P.S. Coming soon to a blockchain near you KYB (Know Your Bankster!)

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*NSFW* *Explicit Lyrics* *Satire?*
The Prodigy - Fuel My Fire [L7 cover] (Live @ Brixton Academy, London, UK) 20.12.1997
- https://youtu.be/uU2MFXMM6kc

[Fundamentals Of]

I love not being a Bitcoin Maximalist.

There seems to be nothing wrong with being a Bitcoin Maximalist for as long as you are really into it and you are utterly convinced of it. If Bitcoin is the one and only true crypto to you and the rest are all shitcoins, it is your view, but you don't have to crap on them day by day by day, and worse only to end up promoting one of them because there is a big amount involved.

If that is what you are, then what kind of a Bitcoin Maximalist are you? A fake one? A Maximalist when there is no opportunity? If that is what you are then you are indeed a hypocrite.

[hatshepsut93]

In my opinion: I don't see anything that much wrong with what they're doing. Sure they're pretty much shilling it, but they're selling ownership and equity of a real legitimate and regulated business, not some utility altcoin that gives you discount on exchange fees or something. It's no different than having an IPO like what typical stocks have done in the past. The only difference in this case is that it's done through the Ethereum blockchain for transparency(not decentralization) purposes.

Would people be giving them crap if they've done it the traditional IPO way? I don't think so.

If they claim to be running a by the book company, why bother with Ethereum token in the first place? Something tells me that this isn't in best interest of investors.

Really disappointed here in Lopp and Mow and the rest. They spent so much time shitting on Ethereum and tokens, and now they engage in one. Now they have to admit that Ethereum is not as bad as they say, otherwise how can they explain that they use it?

[dimonstration]

A big chunk of money can change the heart of a maximalist. I believe they are already hungry on Bitcoin price action compared during 2017 when FOMO is normal. They have the right to change there perspective on altcoin because it's there life and I don't see it as a big deal because these person are traders even though they are self proclaimed  maximalist. They are trading altcoins behind the spotlight and being an advisor of a possible solid coin is good opportunity for them to earn more profit. We are all aiming to gain that's why we are investing in crypto. Those user that sending negative comments is just a butthurt or heavily FOMO by these guys.  

[slaman29]

What a long time it's been since I heard about this kind of drama. Finally the Bitcoin maximalists are coming out to do drama battle with the altcoin communities. I guess this is now all what 90% of bitcoin people do now. They made their wealth and now they want more so how else but altcoing pump and dump right?

[bitcampaign]

why not if the project pays for a tweet from a Bitcoin maximalist, but I also think it would be dangerous for beginners to invest in a project that might one day be a scam because of seeing that tweet, one of which is John McAfee also often promotes the ICO project or other because it might be paid for by the project, so I think it doesn't matter to the tweet just the bad effect is that people who don't know and invest in the wrong project might be more dangerous

[20kevin20]

Great example why you shouldn't let influencers influence you and your brain. Money speaks words here - they've probably been paid well enough to say "fuck it" and jump in the other team's boat.

It's a shame that some people allow selling themselves to others, even if we're talking about millions. The ironic thing is, they're probably going to lose more in the long run considering they're known as cypherpunks/maximalists and now have shown their true faces.

why not if the project pays for a tweet from a Bitcoin maximalist

Yeah, why not promote something you used to stand against if you get money, huh?

[arwin100]

why not if the project pays for a tweet from a Bitcoin maximalist,

Not good to see this kind of act since it means that you are ok to earn while other will face the consequences that they might get scam.

but I also think it would be dangerous for beginners to invest in a project that might one day be a scam because of seeing that tweet, one of which is John McAfee also often promotes the ICO project or other because it might be paid for by the project, so I think it doesn't matter to the tweet just the bad effect is that people who don't know and invest in the wrong project might be more dangerous

This is really becoming a John Mcafee 2.0 and we shouldn't trust easily by the words provided and I hope there's no newbie will look after them and believe on the word released. We must be careful since anyone could deceive us.

[BitcoinFX]

I love not being a Bitcoin Maximalist.

There seems to be nothing wrong with being a Bitcoin Maximalist for as long as you are really into it and you are utterly convinced of it. If Bitcoin is the one and only true crypto to you and the rest are all shitcoins, it is your view, but you don't have to crap on them day by day by day, and worse only to end up promoting one of them because there is a big amount involved.

If that is what you are, then what kind of a Bitcoin Maximalist are you? A fake one? A Maximalist when there is no opportunity? If that is what you are then you are indeed a hypocrite.

What? You seem to have the wrong end of the stick entirely.

See my recent thread topic:

Bitcoin maximalists are doing more harm to the crypto space than good ?
- https://bitcointalk.org/index.php?topic=5270150.0

HINT: Not all altcoins are shitcoins, however, I have yet to discover a shit-token that isn't or that has a valid use case.

[Harlot]

It's funny how people will quickly turn down their views and beliefs in exchange for money, these kind of guys are just pretending that they are believing on something but when there is a chance to profit they will grab it. That's what happens mostly in the crypto industry where if they have gained some reputation they will take advantage of it even if they will exchange will be called hypocrites by doing so. I think this should serve as a lesson that you can't just really believe what people are always saying in the internet since there will always be a chance that they will tell you a different story on another day.

[gentlemand]

Oh boy it's my time to be controversial again.

In my opinion: I don't see anything that much wrong with what they're doing. Sure they're pretty much shilling it, but they're selling ownership and equity of a real legitimate and regulated business,

These people have built their rep by being beacons of Bitcoinness and relative rationality in a sea of squealing Carlos Matoses. It's just business but their business previously has been primarily about upholding that position.

If it were me I would regard that rep as more valuable than a rapid profit, even if it's fully legit. No one's going to die and I personally couldn't give a shit but many others will and memories are long, especially for those who reverse long-held behaviour.

[BitcoinFX]

Oh boy it's my time to be controversial again.

In my opinion: I don't see anything that much wrong with what they're doing. Sure they're pretty much shilling it, but they're selling ownership and equity of a real legitimate and regulated business,

These people have built their rep by being beacons of Bitcoinness and relative rationality in a sea of squealing Carlos Matoses. It's just business but their business previously has been primarily about upholding that position.

If it were me I would regard that rep as more valuable than a rapid profit, even if it's fully legit. No one's going to die and I personally couldn't give a shit but many others will and memories are long, especially for those who reverse long-held behaviour.

Hear, hear @gentlemand

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BITCONNECT EDM REMIX (FULL SONG)
- https://youtu.be/e5nyQmaq4k4

[LogitechMouse]

This just shows how powerful money is . Even the most popular crypto enthusiasts are bowing down to these kind of shits.
They will do anything just for the money. They will shill/advertise a shitcoin just for the sake of money.

I remember when Roger Ver was a member of a project and the tokensale reached the hard cap easily (that was around 2017-2018 though).
At that time investors are dumber than they are right now and I think that nothing will fall into this kind of bullshit that they are doing especially when there are some people who are against this shitcoin.

There is nothing wrong with what they are doing though since you aren't sued for criminal cases in shilling a new project. In the end, it will depend on the investors if they will invest on it or not. These shillers are pure hypocrite and f*ck them all.

[bitsurfer2014]

This is a classic case of a principled believer whose values get easily thrown away by a probable monetary consideration but we can't blame them  when they knew they could gain huge profits with their newfound alt stash especially if the project is also legit. Imho.

[BitcoinFX]

This just shows how powerful money is . Even the most popular crypto enthusiasts are bowing down to these kind of shits.
They will do anything just for the money. They will shill/advertise a shitcoin just for the sake of money.

I remember when Roger Ver was a member of a project and the tokensale reached the hard cap easily (that was around 2017-2018 though).
At that time investors are dumber than they are right now and I think that nothing will fall into this kind of bullshit that they are doing especially when there are some people who are against this shitcoin.

There is nothing wrong with what they are doing though since you aren't sued for criminal cases in shilling a new project. In the end, it will depend on the investors if they will invest on it or not. These shillers are pure hypocrite and f*ck them all.

Remember when Bitcoin was just a digital cash system and didn't need 'investors' only traders ...

I also remember going to funfairs where you would exchange your hard earned coins for tokens and then be taken for a ride.



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Katy Perry - Chained To The Rhythm (Official) ft. Skip Marley
- https://youtu.be/Um7pMggPnug

[gentlemand]

This is a classic case of a principled believer whose values get easily thrown away by a probable monetary consideration but we can't blame them  when they knew they could gain huge profits with their newfound alt stash especially if the project is also legit. Imho.

If a maximalist came across a project they actually believed in, beyond enriching themselves that is, they might regret having backed themselves into a corner by pandering to what Bitcoin obsessives want to hear. You're much better off retaining a light touch.

Andreas Antonopoulos has found the right balance. He doesn't dismiss non Bitcoin. He does call out the undeniable shit. He'll still be harvesting what he's grown many years after the sell outs have gone down in flames.