An Investor's Story, on SteemIt.

whatsup (75) in haejin • 7 years ago (edited)

Recently a friend of mine told me this story about how he found SteemIt.

Anonymous Investor's Steem Story:

In November of 2017, I decided to invest in Steem. They were attracting amazing content creators and had a cult-like following for their diverse and entertaining content. Everywhere I went people were talking about Steem's amazing block speed, the number of transactions they could process, their brilliant consensus tool and I knew I had to give it another look.

I signed up using "SteemIt" and found this site had a star trader who made 10 posts a day with trading advice. So many people thought his advice was good, they upvoted all of his posts to the trending page each day!

Obviously, this trader is supported by the credibility of the entire Steem Community. Otherwise, they simply wouldn't allow his advice to be on the front page EVERY DAY! What an opportunity. Instead of just putting my $100,000 into Steem, I decided should quickly multiply my initial investment by following Haejin's advice.

............

How do you think the story ends?

Bonus MEME photo

haejin trading investment satire creditibility

7 years ago by whatsup (75)

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dirkboy41 (53) · 7 years ago

During the later part of last year, many became 'crypto experts' due to teh astronomical rise in all cryptos. @haejin was at the right place at the right time, promoting the right thing (cryptos). He gained a huge following with his calls and now has very strong support. While I do not find the majority of his posts actionable, I do acknowledge the value in his analysis.

stackin (78) · 7 years ago

The bonus meme is 😂🤣😂

danpaulson (62) · 7 years ago (edited)

Just another deplorable who thinks he should get to decide what other peoples content is worth rather than letting the market decide.

whatsup (75) · 7 years ago (edited)

Where did I suggest anyone change their content? An element of determining a market price is conversation. Or is that too much freedom for you?

Did you call me a mean name? Oh no! lol

danpaulson (62) · 7 years ago

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whatsup (75) · 7 years ago (edited)

Are you disparaging my disparaging content?

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sublimate (48) · 7 years ago

got triggered the blockchain is witness :)

whatsup (75) · 7 years ago

I didn't flag him. I was enjoying his inability to make a point. However, it was a fun conversation.

sublimate (48) · 7 years ago

@danpaulson where exactly in the whitepaper states that the market decides? :D please share your knowledge!

@starjuno maybe you know? :) (upvote for...? :)

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farq (54) · 7 years ago

part of the problem is that there's a perception of market disparity.

enough people believe that the market is in fact not deciding...

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apsu (65) · 7 years ago

He is also a part of the market.

He can decide.

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markzuckerbergs (56) · 7 years ago (edited)

One of my friend bought SBD instead of steem power when he made a post in which he ~~predicted~~ analyze that sbd price will be upto 40 $ in next few months. He bought SBD when price was around 11 $.

MASSIVE LOSS

dwinblood (73) · 7 years ago

I think I even commented on that post. I tried to tell some people (may have been them) that the SBD was designed to be pegged to the US Dollar. It had been off peg before and steps were taken to try to get it back on peg. So betting on the price of SBD is dangerous as you never know when they might artificially attempt to drive it back towards $1/SBD.

So yeah, that was bad advice IMO.

farq (54) · 7 years ago

just out of curiosity - what was done to get it back on peg the first time, and was anything done this time around to bring it back or was it just market forces?

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dwinblood (73) · 7 years ago

Well apparently when it goes OVER PEG it is difficult to get it on peg. Which might be why it hasn't returned to $1.

When it is under $1 the witnesses can control some rates that help get it back up there, and they encourage people using the PROMOTE feature which any SBD you spend to get a post on the PROMOTED tab is burned/destroyed so it takes SBD out of circulation and thus increases overall value.

Though I do remember them not being sure what to do when it wen off peg... and then it only hit around $2/SBD. It eventually did go back to $1. Though this last time it has never really returned to close to peg. It even hit $10-$11 range briefly.

I just keep in mind it is supposed to be pegged. So if they haven't given up on trying to force it to peg it is something worth keeping in mind when treating it like other cryptos.

Steem on the other hand should act like other cryptos.

Also I don't know if they are bothering with the peg or not anymore. No clue.

farq (54) · 7 years ago

yeah - i joined around the time where it was $11. Was definitely a good opportunity to build up your SP, though I probably only caught the tail end of that, as I was still figuring out the platform.

Given that SBD is tradable externally like any other cryptocurrency, the only way to peg it would be to back it by USD, or to have a system that holds enough SBD to buy/sell accordingly and keep bringing it back to 1.

I haven't read the white paper so i'm not sure what the pegging strategy, but it is somewhat of a concern, to have this grey area and nobody knows whether it will be pegged again or not..

moeknows (60) · 7 years ago

They make more/increase supply to drive the cost down. They do this by paying you more than 50% in SBD. I think at one point, they were giving like 85%in SBD which made it very lucrative during that time.

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farq (54) · 7 years ago

That's very interesting - I never heard that before - I only joined in November and it's been 50% that whole time.

That would contribute towards controlling the flow of SBD - but as long as this remains a manual fixed process, it's always going to lag behind when deciding whether it should be implemented or not.

If the desire is to truly fix SBD to $1USD, they would need to find a way to automate this and make it a floating value.

This I assume would also impact on the supply and cost of STEEM though, would it not?

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moeknows (60) · 7 years ago

I may be wrong about that. I know I read it somewhere, but I never really did the math. Currently, when I check in the history of paid posts, I haven't been able to find an instance of that. I swear I saw it posted in a few places and it certainly seemed that way. I even thought I saw @themarkymark post about it.

Show 2 more replies

whatsup (75) · 7 years ago

Ouch. I remember the SBD post well. Roundhere and I laughed about it.

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steevc (73) · 7 years ago

LOL. The only person winning from his posts is himself. He even gives most of his votes to himself. It's not like he cares about this community. Give you votes to those who appreciate them

gregan (59) · 7 years ago

85% of his votes are on himself at the moment, it's scandalous!

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preparedwombat (70) · 7 years ago

Go for the Maytag refrigerator boxes. There’s a lot to be said for high-quality cardboard.

whatsup (75) · 7 years ago

lol. Next post. How to construct an excellent cardboard shelter.

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theguruasia (67) · 7 years ago

@whatsup,
The story might be ended with a BIG BAD FLAG from the HE@#$% :D

Cheers~

whatsup (75) · 7 years ago

lol, or three from his other accounts. Going to be a huge wake-up call for some when they figure out the power network he is amassing.

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theguruasia (67) · 7 years ago

@whatsup,
He got multies :O WTF this guy is doing :D

Cheers~

whatsup (75) · 7 years ago

He is building a Network in plain site. It started with Rancho, who's votes grew Haejin and now he is building starjuno and some other accounts.

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sublimate (48) · 7 years ago

i took this from a memo of @scarlet7

2 months ago Transfer 1.000 STEEM to klevn
Thank You for being reasonable and not fighting for something that is first: full of false statements, second: deliberately hate filled, third: something that you don't know the whole story behind. I respect that. I am removing all of my flags from your posts. If you are interested in knowing how Haejin achieved this success, please contact me and I would be happy to talk about it. He's no fraud, and we are making a killing. Thank You for being a real human being that thinks. We all think after our actions sometimes, and that's ok, as long as we are thinking and trying to do better. Again, thank you, and let me know if you want to discuss further.

They are making a killing @scarlet7 says...

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whatsup (75) · 7 years ago

Yeah, anyone who can do math can see Haejin is making a killing.

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josediccus (75) · 7 years ago

I really wish steemit has rules guiding The upvote system, this way there will be a sort of order

dwinblood (73) · 7 years ago

The problem is ANY change to how up votes people come up with can easily circumvented simply by a person using multiple accounts.

It isn't that people don't want to fix it. It is simply that no one actually has come up with a solution that would actually work that can't be easily gotten around, or that doesn't introduce even nastier exploits.

whatsup (75) · 7 years ago

It is without rules and government. Each person is to use their upvotes and flags combined with their stake to influence the site.

The idea is to create code that doesn't require rules. It is an experiment. The figuring it out is messy and in my opinion part of the fun.

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fingersik (66) · 7 years ago

well said:)

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zyberzerk (56) · 7 years ago (edited)

We also invested 100K in Haejins expert analysis. I know where this ends. . . .

meme-deluxe (61) · 7 years ago

lol the game is on? im in!

jeezzle (70) · 7 years ago

I assume all of those boxes are filled with money?

hero7 (54) · 7 years ago

الضحك بصوت مرتفع. الشخص الوحيد الفائز من منصبه هو نفسه.

soufiani (66) · 7 years ago

Lol the only person who profited by him is him

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eirik (69) · 7 years ago

Lol! Wait for Haejin's shillers wrath! :P

whatsup (75) · 7 years ago

It's already started. They are flagging my other posts. lol

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yaanivapeji (65) · 7 years ago (edited)

Am curious to ask this question. Was there a time that haejin was making ten post a day and making cents on them and nobody complained?

danpaulson (62) · 7 years ago (edited)

When I started following him in August/Sept he was doing the same apx 6-10 posts a day and making 10-15 per post. No one seemed to have a problem then.

People have a problem with success.

whatsup (75) · 7 years ago (edited)

I also think sometimes people have a problem with success.

Maybe I am just jealous, or it could be that having this all over the front page isn't good for our reputation. Or maybe I am on his side and I think visibility creates interest.

Maybe I think the whole thing is silly and I wanted to poke some fun at it.

Maybe I am worried that my own investment will be funneled into his account.

Maybe I didn't have a topic to write about and I thought this one would trigger people and create engagement.

Or Maybe it was a little bit of all of the above.

danpaulson (62) · 7 years ago

Maybe I remember when the short lived truce between bernie and haejin was announced that you were not happy about it. Maybe remembering that has colored my view on how you see this situation.
Maybe you don't care about any of it.
Maybe you simply like discord.

whatsup (75) · 7 years ago

Bernie doesn't make agreements on my behalf without my consent. Does he make agreements for you?

I didn't come to your blog and start discord. :)

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yaanivapeji (65) · 7 years ago

Am very sure if the creators of steem saw Haejin's activities has a threat to the platform, they will curb him immediately.

Ned cannot see his baby brought down by one person no matter how decentralized the platform is.

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whatsup (75) · 7 years ago

Well, thank you for that reassurance.

meme-deluxe (61) · 7 years ago

rofl

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whatsup (75) · 7 years ago

No, everyone has complained since the beginning. The topics change but the complaining never ends.

fitzgibbon (61) · 7 years ago

Bots have never complained afaik :)

whatsup (75) · 7 years ago

lol

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yaanivapeji (65) · 7 years ago

I don't think I remembered people complaining about Haejin from the beginning because I knew him when he was making cents on his ten post a day.

But it is cool. 😎

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zyberzerk (56) · 7 years ago

zyberzerk (56) · 7 years ago (edited)

in 10-2017 haejins youtube videos had 140 views. There was no beginning. The beginning were shady activities and platant lies to steemit community. Fake followers to make it look like a sucessfull crypto advisor. But if you look a bit closer at the followers, omg, so many followers man. +5000 of Haejins followers all joined 12-2017
with names like @aaaaa1 @abaaaab1 @ hhhhhh1 . . . . . But it is cool! People don´t remember that the advice from 4 weeks ago led into loss of 85% of peoples money, we therefore honour this absolute crap advices with 1000s of dollars each, paid from reward pool.

danpaulson (62) · 7 years ago (edited)

you are a lying piece of shit, you didn't even join until jan 18

whatsup (75) · 7 years ago (edited)

Yeah, it is so surprising that nobody complained about him before they knew he existed.
That's odd.

A part of having great success is visibility and the following attention.

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tzap90 (56) · 7 years ago

I will stick with my point of view and say that there are a lot of overpaid articles and just a view of them are great to read, have interesting stories, some funny or innovative ideas. As long you dont work on a formula to cure cancer your articles are not worth 1000 bucks each.

sqube (44) · 7 years ago

nice house. is it 4 rent?

gothika47 (48) · 7 years ago

Didint some one make a post showing his advice was bs like 80% of the time?

mammasitta (70) · 7 years ago

volfenhauser (41) · 7 years ago

I wonder if Haejin's "loyal following" knows that every crypto-to-crypto transaction is considered a taxable event in the United States.

Nah, they must, I am sure he is providing sound financial advice in order to empower individuals to think for themselves.

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vieira (63) · 7 years ago (edited)

I think that for now Haejin and those who vote for him have the freedom to do it, but I also believe that you, like me, like anyone else, are free to make one or a thousand publications making our criticisms about it, just as we have the freedom to vote against if we wish. Free market is not only upvote, the flags are also free market, and inform people of what is happening is also free market. I think Steemit is a great environment in which only freedom is breathed.

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farq (54) · 7 years ago

without commenting on specific people, Because quite frankly, I don't want to buy in to all that stuff, I think before following any analyst, you need to watch their trades for a period of time and see how they play out, to determine whether they have credibility.

There's a couple on steem that I follow, that are less popular, that are actually pretty good. I don't necessarily invest on their recommendations, but it's good to keep an eye out and be able to gauge what might be happening in the near-medium term.

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phelimint (68) · 7 years ago

You bring up a good point in your satire. Does he really think he's giving legitimate useful advice? I hope people really aren't putting actually money on the line based on his predictions.

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whatsup (75) · 7 years ago

Well what else would the value of his posts be?

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syncubate (50) · 7 years ago (edited)

His senseless and sensationalist technical analysis via posts made multiple times a day gives traders that successfully and objectively assess price action a bad rep.

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jacobts (65) · 7 years ago

#HODL Charts

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rahulsaini (57) · 7 years ago

Exactly ! Nice meme
I have noticed that most of new users of Crypto and Steemit are supporting his post or analysis because they don't know how Crypto is working.
I also supported him when i was new or beginner but after some time i understand that how it's going and i was supporting shit.

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monte67 (43) · 7 years ago

HA. You should use duct tape, it's underrated.

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thabiggdogg (56) · 7 years ago

나는 이것 처럼 보 곤 했
decentmemes-1520112844895

decentmemes-1520112844895

하지만 지금은 내가 편지 H 조 숨어 있어 이후

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zelenicic (49) · 7 years ago

This is not bad it is double cardboard.

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showboybeezy (4) · 7 years ago

This short story is very touching
I love that

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pushup (51) · 7 years ago

8.15% @pushup from @whatsup

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theuxyeti (64) · 7 years ago

upvoted

Yeti logo.gif

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cekboocell (38) · 7 years ago

very good post,@whatsup

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gothika47 (48) · 7 years ago

very nice spam @cekboocell you have a lovely comement chain of spam! :)

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soufiani (66) · 7 years ago

Well, as i can see you are doing really great so far and i can also see that you will do better in the future ;)

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whatsup (75) · 7 years ago

I do, and I will. :)

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diya28 (53) · 7 years ago

should we guess the name

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tonyendz (52) · 7 years ago

JAIL!
https://www.desertsun.com/story/news/2018/03/02/parents-joshua-tree-children-plead-not-guilty/390345002/

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booster (68) · 7 years ago

This post has received a 33.38 % upvote from @booster thanks to: @whatsup.

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leighleigh (48) · 7 years ago (edited)

I love your friend's new home. State of the art cardboard creation. I'd like to borrow this meme to show our village box lady - a sort of home improvement incentive for her :) :)

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hbermudez555 (25) · 7 years ago

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