My last video on Raiblocks was a PR disaster (well to me at least). I've done plenty of controversial videos, but this one stands out because even I agree the video sounds questionable when I listen back to it. Naturally I know my own intentions, but I understand everyone's perspective.
This brief update is to inform you that:
I have read almost all responses on YouTube, Twitter, Reddit (yes, both the thread in /r/Raiblocks and /r/Cryptocurrency) and Steemit against my better judgment (trust me, you can only handle so much) and am aware of the various criticisms.
At some point in the near future, I'll make a video revisiting the topic and clarify my position (which hasn't changed, but I'll at least present it better and more respectfully)
Basically, I'm just here doing some damage control and trying to convince you I'm a good guy, pinky promise. For those of you who honestly don't care, no worries - Just needed to do this because it's the first time I've had a situation like this happen and I'd rather NOT commit PR suicide and poke the internet bear. If you usually only read these descriptions, I would listen to this particular video as obviously you can only portray so much in text.
Take care all and happy speculating / investing.
As a fellow blogger here on one of the most awesome social networking platforms I've ever had the chance to use, something remarkable occurred to me when I was looking over you're blog here on Steemit, I noticed a trend that had emerged.
As everyone knows you have so many videos that are a genuine perspective for crypto Traders who are trying to gauge or hedge bets, the Kind of traders that do not necessarily know everything about crypto markets who find it helpful to have a second opinion.
The trend I've seen in your post so far is that the post that you are apologizing for which is the post you called a PR disaster is actually the post that got the most upvotes in the Steemit system on you're blog.
In other words if the object of the game is to post information that people like then theoretically no post you have that came before or after has hit that mark as the one you are essentially apologizing for in this post.
I'm not here to say whether or not your apology is necessary or you owe these people an apology or not, that's your prerogative and although you're sentiment does seem genuine I just want to point out that technically speaking the post you had the most engagement with for Steemit users should not be a post you have to apologize for and if anything that's the kind of outspoken defiant opinion, whatever it maybe, is always genuine and valid and will always be respected even if there's a handful of people that have their finger on the unlike button and you perceive their comments are somehow worth acknowledging.
In summary I think you will find if you were view your blog you will notice that the post with the most upvotes is the post you are apologizing for, as Alanis Morissette would say isn't that ironic? I think you're post was a Steemit PR dream!
Go Crypto, Go BTC, Go CryptoVestor!
Let's go...
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I have given this a 100% upvote again. I really appreciate your frankness. and honesty. I rate you as one of the BEST commentators in this market, by far. I really hope you NEVER feel you have to be apologetic or cow tow to your audience ever again. I think you should always be welcome on the steem blockchain and this is why i gave you 100% upvote. you should aim to piss your audience off, push the boundaries, DO NOT let your audience control your views or videos, as this is what will end you. I love your independence and ability to speak your mind. I DO NOT LIKE a content creator when they hold their views back due to their audiences' position in the market. The last video was not a PR disaster, however this video almost was. Chin up, your audience loves you, they love what you do. I look forward to the next frank, honest video. Appreciate your work, steem on!
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starkerz,
Thank you for the continued support. It's a hard line to walk - I wouldn't have said anything if I didn't feel something was wrong with the video myself. The delivery was poor, plain and simple. Most people took issue with the content, which I think is fine and still stick to. I'm not apologizing for what I said or for what I think - That's one of my few entitlements and this channel provides me an avenue to share that opinion. I won't ever hold back my views. However, it is frustrating even for me when I don't deliver those views well which is how I feel about the Raiblocks video.
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I second @starkerz
You seem like a genuine voice out there in the cryptocurrency YouTube world.
I only found out about your channel a few months ago, but I'm liking the content.
Glad to see you here on Steemit too. Have you tried out posting some of your material on Dtube too? Worth testing out!
Keep on mentioning Steemit at the end of your videos, I'm sure it's appreciated. :)
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It is VERY much appreciated especially in the #promo-steem initiative and tag
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You said right, Dtube can give lot more exposure.
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Its clear Thanks for the reply!! Still nice if you can piss your audience off once in a while tho ;) Best of luck! As a side note, we have put together a promo-steem initiative that is really comming together on steemit. It would be great if you tag your videos to the tag #promo-steem whenever you mention steemit in them. I will certainly be supporting this going forwards and it will be well appreciated in the community.
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I fully agree, and he is one of the most blunt and realist voices in the crypto space, which is a good thing since most of the space is in an echo chamber, something which can be very dangerous if you aren't willing to listen to ALL the various sides of the discussion to make better educated decisions.
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I think scalability is important, but I don't think it has to be the main thing people focus on. When I do software development, I always optimize last. If I were to design a cryptocurrency, I would do the same thing.
But if the currency I'm trying to optimize is resistant to optimization due to faulty governance, then guess what? Governance becomes more important than scalability.
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The funny part is governance doesn't tend to become an issue until you have scale... The best part is when you get double whammied and start having scale issues AND governance issues at the same time as a result.
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Its pretty clear how the market is working right now. Whales are pumping altcoins, trading it for bitcoin, and then selling BTC for USD. That puts them at odds with hodlers and others who believe crypto is the future and fiat is the past. Will be interesting to see how this trend reconciles itself this year.
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You dont need to change your attitude to please the audience. We watch you in the first place because we value YOUR opinion. I would not like it , if you changed your viewpoint to please the masses. But also I would you to understand the sentiment of the people. Thats whats driving the market in the first place. The need for profits and a promise for a better future. We all know 99 percent of the projects will fail at one point on the other. The projects that will succeed eventually may not have been even created yet. So the "gold rush" of finding that one thing that will take over everything else will take precedent over everything else. And you cant deny, RaiBlocks does fuel that promise to some extent. But so does IOTA and cardano. if talking about scalability XRP can handle 1500 transactions per second, I'd say thats pretty fast, but has it been adopted. You are so right about the adoption part. Scalability has nothing to do with adoption, otherwise we'd see XRP accepted everywhere. Bitcoin is more adopted than everything else and probably is the most unscaled right now, but its still being used. Adoption comes with trust.
People will be more willing to trust bitcoin than raiblocks in the future because it has proven itself time and time again, security uncompromised. I hope you get what i am rambling about.
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Adoption comes from a lot of things, and one reality I hate to say is that having a free-floating market value for a currency with this much volatility will be very difficult as it will never be a unit of account. In reality, it will likely be about attempting to create a decentralized solution for:
For that to happen, businesses have to accept XYZ cryptocurrency. The general populace has to be aware of said cryptocurrency and be comfortable owning it (even if for short periods of time) and transacting with it. The user interface has to be friendly and inviting. There must be enough protections in place that if a mistake is made, there are ways to not suddenly lose thousands of dollars. I call this idiot proofing, and it is much more important in fintech than usual tech (given that money is on the line).
Scalability is overrated and I will standby that until the day I die. Not because it is irrelevant, but because all the "tech nerds" will figure it out as they always do. We have control over scalability. We have limited control over how long it takes for everyone to WANT to use and feel COMFORTABLE with using cryptocurrencies. That will take far longer than most early adopters realize.
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Scalabilty is important because lack of it stands in the way of adoption. I believe scalability has to come first or we will never get to mass adoption. Simple.
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Exactly. Paypal isn't Paypal solely because of its transaction capacity. It had to do everything else right first.
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Good points
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I understand that you're worried about the development of a "friendly and inviting" user interface and that you're confident that it's only a matter of time for scalability issues to be solved. I would like to suggest the idea that maybe there is reason to be just as confident about the innovation and implementation of "idiot-proofing" solutions for the cryptocurrency user interface as for the resolving of possible scalability issues! Andreas Antonopulos has mentioned that that bitcoin does face "some very significant security problems related to the ownership and control of bitcoin keys[...]for the end user", the implication being that the technology may not be user-friendly enough for mainstream adoption (43:15-43:24, video linked below). He does however go on to say that he DOES BELIEVE that "over time, we are going to see the development of more secure mechanisms" and that "for every problem [he] sees in bitcoin, as an entrepreneur, [he] simultaneously sees a tremendous opportunity" (43:53-43:59, video linked below). There IS a strong business incentive for the innovation of idiot-proofing solutions to cater to the requirements of the mainstream adoption of cryptocurrency. The market introduction of the Trezor hardware wallet is representative of this commercial push towards the simplification of the use of cryptocurrencies. Today, the innovation carries on with products such as Javvy with the "support of the multi-signature authentication" for even more approachable user interface (https://javvy.com/wp-content/uploads/2017/08/javvy_prospectus.pdf). :)
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1- You are the most genuine crypto youtuber I know. And THAT's why I follow you.
I will always listen to people that know more than me in Crypto and that I feel aren't fooling me or using their influence to pump their stocks.
Want to know what video really made me subscribe to you and get notifications on my phone? The one were you talked about emotions.
It seems like every other youtuber is faking emotions and anxiety they might have when the price action isnt going their way.
2- Your arguments on the RaiBlocks video were pretty valid. For that, you have my sincere thank you. You're more informed and experienced than me and I always look to learn more from people like you, because, in the end, it'll make me more money and give me more peace of mind in crypto trading, plain and simple.
3- After hearing your argument about how really adoption comes before any scaling issue I too agree with that. We aren't using cryptos in day to day because we feel like we can't transact enough, its because there's really no use case right now.
4- Thanks for caring about your comunity.
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Nate and idea,
I appreciate the kind words. I won't change - I'll always say what I mean. Sometimes it may not be communicated in the best way, but it'll come around. I'm happy to hear I could help you in a meaningful way and hope you stay tuned!
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I'm really new to trading and will definately stay tuned, as a matter of fact, i'm pretty hyped to watch your new video series "investers guide to X". There is a lot of things I don't know about each cryptocurrency and knowing what I'm investing in is a great way to not get burned or help make better calls on price action prediction.
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I want to add to what @natecordova said. Mainly because they wrote what I was about to write. AND That video about emotional investing was a service to this community and was what got me interested in your perspective as well. No doubt you rustled some jimmies on that last video but it's how you see the situation is what people want. Also despite the down votes and the comment thrashing people are still going to look to you as one of the critical thinking voices in the CC investment jungle. Keep up the good work man.
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We live in a digital era. We also, more and more, think digital. Or binary, to be more precise. 1 and 0. Good and bad. Optimistic and pessimistic. Positive and negative. And there are people who describe you as pessimistic or on the more negative side. Kindly put, that is.
It took me two videos to subscribe to your channel. Why? Well, because I found it refreshing that somebody was able to break out of this binary thinking (crypto-is-from-god vs. crypto-is-devil's-work) , trying to be realistic about it. And without hidden agenda. And not being disrespectful. And presenting ideas and opinions worth listen to, but not in any case to automatically agree with.
#end of ass-kissing
I agree with the concepts in the previous video. I see everything in three steps: innovation - implementation - adoption. In crypto world we made first two steps. But it will take a little more time for the real adoption. That's how my mammalian brain thinks. Now, my reptilian part thinks just: f##k it all, I'm in it only for the money.
For conclusion. May I add a small suggestion.
STOP being so f##king apologetic. As long as you do not trash others and you are not being disrespectful, state your opinion/idea and stick to it. In terms of PR stunts, I think it's your kind of "so sorry if ..." behaviour that really turns people off.
Maybe this scene (H. Stern: Private parts) should give you some insight how things work:
Disclaimer: I'm not a PR expert nor is this a PR advice.
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If I don't say anything, I appear aloof and an asshole to a number of people (and in this case, a few people I highly respect). If I say too much, I seem defensive and apologetic. If I say too little, it serves no purpose. I'm trying to find a happy medium and I'm new at this. It'll get better - and hopefully such events will happen with less frequency in the future (or zero).
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Pig Vomit!...that was a great movie.
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True, true ... :)
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I liked your video because you make an intelligent argument and you are not afraid to speak your mind even though you know your opinion will not be popular. Please don't change.
Having said that I don't agree with everything in the video. I think you argued that scalability is not as important as other factors, particularly adoption, and that UI is holding back adoption of crypto in general. I agree with that. You gave examples of Bitshares and Steem as cryptos that can scale as well as RaiBlocks which makes XRB essentially pointless. I think that was the basis of your argument (correct me if I misunderstood) but if so I don't agree with it. I only heard of RaiBlocks for the first time when DataDash did his YouTube video a few days ago. I bought a few XRB to try it out for myself, and honestly I wonder if you actually did the same before passing judgement. What blew me away was how easy and quick it was to open and use the web wallet. If you haven't done it please try it. In fact if you send me your receive address I will gladly send you a little XRB to play with. You talk about the importance of UI and that is a strong argument in favor of RaiBlocks right there. I am not saying that it is a finished product, and there is certainly room for improvement, but it works.
RaiBlocks is about transfer of value. I opened the web wallet and created an account in a couple of minutes (raiwallet.com). I opened a second wallet and transferred a small amount of XRB between them, and sent it back again in a few seconds. No fees. Extremely fast. No waiting for transactions to confirm, so the value is immediately spendable. Dead easy to do. It just works. Now try and to that with Bitshares - it makes my head hurt just to look at the UI. No idea if you can do that with Steem but I doubt it. So for me your argument about UI should be a vote in favor of RaiBlocks and I would not be so quick to rule out the possibility that there is a valid use case for it. I don't believe Bitshares and Steem are RaiBlocks killers. I am not saying that RaiBlocks is a Bitcoin killer (or anything else killer) but I do think it should be taken seriously.
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You remind me of my Investment Advisor who is a smart yet cautious stock picker. He researches the company and makes a suggestion if he thinks the stock has a bright future for the long term. He never suggests stocks to get in quickly and then get out quickly. He is building me a strong, diversified portfolio for that will appreciate over the long haul. I'm of retirement age and I need to have a substantial portfolio of stocks and other investment vehicles that hold their value and increase in value over time because I'm no longer employed and am relying on my portfolio to fund the rest of my life. So the risks inherent in crypto-currencies makes them a poor choice for my portfolio. I view them as a speculative bet and would be very cautious before choosing which coins to invest in. I think what you're saying is that while prices are pumping up for different coins now , they could tank tomorrow or the next day. That is a ton of risk. But of course lots of the people putting money into crypt-currencies are after quick bucks by buying and selling to take advantage of pumps regardless of what is behind the pump of the currency itself. They don' t care. Buy it when it's low and take a profit when it can give you some profit and then move on to the next pumper. That is ok to do if you are not risking everything in the process. Put some of the profits aside and build up your crypto portfolio responsibly and intelligently. Go deeper in your analysis if you want , and if you do want deeper analysis Crypto Investor is the guy. He provides intelligence and common sense as well as solid expertise in reading trends and interpreting charts. Like my IA, Crypto Investor is smart and cautious and I do just what he tells me to do and his track record is excellent. Even looking at Crypto-currencies goes against his investment strategies. But here I am looking. I haven't invested anything yet and may never do so. For one thing I live in Canada and I haven't been able to find an easy and reliable way to even make my first purchase. Coinbase wouldn't verify my ID and that is where I'm at now. But I've watched a lot of Youtube videos on the subject and Crypto Investor is the wisest guy to listen to of all advisors out there. My problem is, as a person living in Canada and having only Canadian banks and bank cards to use, I am so far stumped as to how to get into this market in even a small, very cautious way. Any advice in this regard would be appreciated .
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keep sharing your thoughts, sometimes there's backlash when people don't agree no biggie.
I don't have to agree with every word that comes out of someone's mouth to find value in their thoughts, that would be assinine.
If dissenting opinions upset people so much they have a hissyfit, then they are are on their own when it comes to investing and they're going to get burned sooner or later.
You are, by far, one of the best cryptocurrency content creators out there, whether you realize it or not.
I posted a video (
People may think I'm dumb for that, but I have to trust my intuitions and convictions, and I choose to shares those with others in hopes that we may learn from each other. They can learn from what I have to say and everyone can learn from the discussions it creates...most people are toxic and not interested in discussion...only finding content that validates their emotional state they experience in a market as euphoric as this one.
Keep doing what you do brother, I'll always support you, where I agree with what you have to say or not, because you're logical and have valid reasoning. And for the record, I find your arguments against rai blocks to be compelling.
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No idea why you have to defend yourself. You make quallity content and i think its good to hear some one who has different opinions. If people just ride the hype we will get an echo chamber and people will just join every pump and dump making crypto a pyramid scheme...
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What I've found about addressing the public after a misstep is that there is a Goldilocks way to go about it, and who knows maybe I'll get better in the future. The balance is:
Some people deal with this everyday. You know, I felt a lot better after seeing Trump's tweet yesterday about his nuclear button being bigger than Kim's. Put my little PR incident into perspective.
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I think the main problem is some people take your word as law instead of listening what they have to say and using that to make their decisions most just hear "raiblocks sucks". Like i said before its very good to hear different opinnions because they might show you things in a way you never tought of.
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Credit to you for putting out fires! you do not need to do this. Your supporters, like myself: a long-time follower of you on YT, Twitter, & now Steemit; we enjoy your candor & straight-forward-ness!
Personally, I think you make very valid points in your video, stating what is on (some) of our minds. I believe that anyone who has been a part of the crypto market/industry for a long time can relate to the fact that the current investing mindset of the newest entrants to the space is very hype-based, with decisions being made, by the greater part on an emotional response to Likes and roaring upvotes, etc in popular forums.
Keep up your pragmatic approach to these topics. Your voice is a much-needed counter-balance to the hype. Appreciate your efforts!
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Agreed - there is far too much hype. Normally this type of controversy doesn't matter much, but people I respect criticized my last video for reasons I prefer not to be criticized for. Difference of opinion is always fine - My opinion on matters is generally controversial in crypto. But I prefer not to have my opinion be expressed poorly, which based on the feedback I received from more intelligent individuals illustrated to me that I did not express myself well.
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Want to say im a big fan of your videos because your tell the cold truth and the reality of how it is. Sometimes some of the hardcore fan boys see a one way view when it comes to certain cryptos. The same thing happened on reddit when I got bashed for calling out Charlie Lee for selling, and the use case that LTC is not what its cracked out to be anymore in the new day of Crypto. It's almost like a cult following.
Anyways Thanks for the Video, but I don't you need to apologize to the public.
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It is important to be very clear in this kind of topic area.
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Hi @cryptovestor,
Gary Vee quote might help:
You can't please everyone, people are going to get 'Triggered'
Especially on YouTube. Just keep moving forward and grow your channel...
Your verified now on YouTube. BE HAPPY! :)
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I'm happy, I swear - you can't tell from my voice?
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WTF, no.
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So true haha Gary is awesome If you did not seen it yet go watch his first video on youtube lol. from when he started to do wine review. My favorite is the one pairing wine and cereals,
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Everyone makes mistakes it's fine. It takes a lot of courage to admit your mistakes you are a smart person and are very informative. Glad you are doing the right thing. Thanks for the thought-provoking and interesting content.
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Well put. Admitting to mistakes and speaking honestly is beyond important in every aspect of life.
Cheers
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You've emboldened your brand and shaken out the weak hands, nothing to be worrying about.
As to what crypto wins out on the charts, sheer hype and greed decide.
As to what wins out in the future of moneychanging, will mostly be decided by institutions rather than nerds and credit card holders.
You have come into the crosshairs of the steemit bot mob clan, who made your last post invisible here - take it as a compliment ;) I think they're concerned about crypto as such taking over the steemit (or even the planet), and especially the rewards pool.
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I was surprised to see it fight back from the abyss and is now visible again. I guess at the very least, it encouraged some valuable participation from a variety of comment'ers.
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Dude, you dont need to apologize for your opinion. And most of what you said I totally agree with, its pump and dump for most of the alt coins right now. But instead of calling it out, you have to embrace them and move with the market sentiment and try to make right trades. Also I know you are really bullish on BTC/ETH/LTC but you have to ride the waves and play the game of altcoins as well. Its not necessarily safe down there, but the game is high risk and high reward.
Also, could you share your portfolio in your upcoming videos... not the cost, just the percentage of what you own and what you plan on holding in the future. I dont think I have seen one from you. Also, i specially went back to your previous RaiBlocks video just to like it and will leave a positive comment on it :D
Cheers!
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I played the altcoin game when everyone was mocking me saying it was getting slaughtered back in October to December and never going to return alive. Now it's doing the slaughtering and I've made a killing. I'm moving back to Bitcoin now while everyone thinks it is going to die. I'll always be "controversial" or against the grain because it's built into my blood from being a value investor in traditional markets. Except I've accepted all cryptoassets are overvalued right now so I just pick ones that are out of favor with serious momentum potential.
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I'm really new to trading, been doing for 2 weeks, and to be honest, there was a lot of times were I've struggled not to "follow the sheep". The FOMO sometimes hits me hard emotionally.
But fact of the matter is, all the times I resisted the FOMO I escaped a price drop 90% of the time.
So perhaps the attitude of not beeing afraid to be agaisn't the norm is vital for sucess in trading.
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Controlling your emotions and risk management are both vital to trading successfully. You're lucky to have stumbled onto Cryptovestor so early on. I would also advise that that you pull yourself away from crypto charts (I know, that sounds very unsexy, but hear me out) and dig into a few books relating to both fundamental and technical analysis as well as trading psychology. There are a TON of good trading books out there relating to the stock market that translate very well to crypto trading. One of the books I found to be most useful was "Trading Beyond the Matrix" by Van K. Tharp.
Additionally, there is a plethora of great information on http://www.newtraderu.com/ by my esteemed Facebook friend, Steve Burns. I would highly recommend that you check it out.
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Yea I dunno if its a good luck charm, but I'd say that around the time that I started watching Cryptovestor and his other vids is around the time I started doing really well in my crypto portfolio to the point in which I was able to diversify my funds beyond my initial investment and spread to multiple exchanges and wallets.
I've learned to set stop losses for all my crypto coins and while there were the few times where I got whiptailed out of the coin, most of the time when my stop losses are triggered I was able to avoid a 50-80% further drop in price, thus ensuring for example that when I was up $1000 going to bed that I woke up with at least $600-$800 still without having it drop to $100 gain or even worse losses.
I think the key to "gambling" with crypto is to not bet more than you are willing to lose like everyone says, and to diversify your funds and not go all out on that one random coin that is not in the top 100. Right now I'm just making random bets here and there on some of the lower cap altcoins while keeping my main in ETH/LTC.
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That's the name of the game. If you are "gambling" on cryptos then you want to be playing the role of the Casino, not the Gambler. The house always wins. With a proper system that provides a positive expectancy and a set of trading rules that take emotions out of the equation, you can be the casino.
I gentleman I've interacted with a good bit though social media named Richard Weissman wrote a good book about just that called "Trade Like a Casino: Find Your Edge, Manage Risk, and Win Like the House". It's a fairly technical read, but I would highly recommend it.
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I think your presentation was fine. The primary issue is not your presentation, but is the fact that you hit two birds with one stone. People still don't understand that this is a bubble, which is why it's already difficult for them to understand that these cryptos will die in ten years (if not less)... now for someone who doesn't understand that, it's difficult to tell them that this or that crypto is not gonna win because of the tech, because believers in crypto will always think that the tech is the problem making crypto not adopted by the masses, as opposed to the difficulties associated with making it understandable/usable for the masses just like they use cash.
Seriously, guys. Don't expect any of this not to be a bubble until you can tell your mom and dad about it comfortably. If you can't, then this is a bubble! It's that simple! Why would you expect that scalability is the primary problem when you still can't expect your mom to buy groceries with crypto even if it can do 1 billion transactions per second? This is the puzzle that I'm still trying to solve!
While I'm not a big fan of Rick Falkvinge, the CEO of Bitcoin Cash, but when he went on TV with RT channel, he said that there's a big bounty on making cryptos usable... not a big bounty on scalability. I never agreed with him more!
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I totally agree with you.
It's not like we're not using crypto because it's not fast enough, it's just because there's really no use for it right now...one good exception though is...steemit. I think this idea is amazing. I don't think it would replace youtube per instance, but could definately serve as a sort of patreon replacer or complement it.
I'm surprised a lot of content creators NEVER HEARD OF STEEMIT. In a live stream with UFDTECH (a tech youtuber that mines and trades crypto as well) I asked him if he was on steemit and he said "What The Fuck is Steemit?" But he knew what Steem was! Crazy.
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I'm not sure why you would apologize, if anything that discredits the way you presented yourself up until this point.
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It's not an apology - see my earlier comment about addressing the public for the delicate balance I'm attempting to face. Publicity is new for me and not particularly easy.
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I agree with many of the comments posted here. I don't think you need to apologize, you are presenting your perspective and everyone is entitled to his/her view. Honestly, it's refreshing to have a crypto community that is alive with different perspectives so that people can rationally think about their investment choices. One of the main reasons why I follow you is that because you are buckling the trend and allowing me to critically think about my position. I might not agree with your conclusion on everything, but I always appreciate your opinion in making me a more well-informed and educated investor. Just like a democracy, without a healthy debate, we can't flourish.
But, completely understand a person can only takes so much negativity, so just wanted to also post to let you know that there is an active silent majority of people who do appreciate your perspectives (but might not be posting all the time).
I leave you with a quote from Friday Night Lights: "Every man at some point in his life is gonna lose a battle. He's gonna fight and he's gonna lose. But what makes him a man, is that in the midst of that battle he does not lose himself."
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I did not lose trust in you in just one video. In fact, I was not following RaiBlocks at all and didn't bother watching the video. I rather read the text beneath and felt "ah, good that I didn't buy and take that coin so seriously!". On the other side, I was looking your view on scalability a bit skeptical.
Scalability is really a big technical issue that needs to be addressed before everyone tries to deploy every possible app on the blockchain. I presume, 2018 will be a remarkable year that we start to see lots of blockchain based technologies. IoT enabled devices will amount for more than 60 billion in number by 2020, according to industrial forecasts. There would be more than one app per device (and also per human) that needs to be supported by blockchain. On top of that some apps like video streaming and gaming require quite intensive throughput, which makes scalability a paramount concern. Ethereum is doing well. Do we need other alternatives? Probably yes (or may be not).
Wishing you all the best!
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So since you've mentioned many times in your videos that you're more active to comments on Steem, I thought I'll give it a try and leave my two cents.
I jumped into Raiblocks around $1 with pretty significant investment compared to my other altcoin and bitcoin positions. That makes me a lot more defensive on the project.
I was super interested to learn your opinion on the tech, the way Raiblocks were distributed, the price action and future of the currency as a whole.
I've always respected your opinion and I listen to your videos early in the mornings when I walk my dog.
I think on the price action side you're on point. We need to see a correction and we are already. Like we did with bitcoin back in December when the price was climbing 1k-2k a day. (Not comparing Raiblocks to Bitcoin here)
If you're redoing the video at some point I'd be very happy to hear your opinion on the faucet distribution model, which I believe is quite unique to this coin and hasn't been talked a lot.
Either way keep up the good content!
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I liked your video because you make an intelligent argument and you are not afraid to speak your mind even though you know your opinion will not be popular. Please don't change.
Having said that I don't agree with everything in the video. I think you argued that scalability is not as important as other factors, particularly adoption, and that UI is holding back adoption of crypto in general. I agree with that. You gave examples of Bitshares and Steem as cryptos that can scale as well as RaiBlocks which makes XRB essentially pointless. I think that was the basis of your argument (correct me if I misunderstood) but if so I don't agree with it. I only heard of RaiBlocks for the first time when DataDash did his YouTube video a few days ago. I bought a few XRB to try it out for myself, and honestly I wonder if you actually did the same before passing judgement. What blew me away was how easy and quick it was to open and use the web wallet. If you haven't done it please try it. In fact if you send me your receive address I will gladly send you a little XRB to play with. You talk about the importance of UI and that is a strong argument in favor of RaiBlocks right there. I am not saying that it is a finished product, and there is certainly room for improvement, but it works.
RaiBlocks is about transfer of value. I opened the web wallet and created an account in a couple of minutes (raiwallet.com). I opened a second wallet and transferred a small amount of XRB between them, and sent it back again in a few seconds. No fees. Extremely fast. No waiting for transactions to confirm, so the value is immediately spendable. Dead easy to do. It just works. Now try and to that with Bitshares - it makes my head hurt just to look at the UI. No idea if you can do that with Steem but I doubt it. So for me your argument about UI should be a vote in favor of RaiBlocks and I would not be so quick to rule out the possibility that there is a valid use case for it. I don't believe Bitshares and Steem are RaiBlocks killers. I am not saying that RaiBlocks is a Bitcoin killer (or anything else killer) but I do think it should be taken seriously.
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Dear Mr Crypto Investor,
Back in November/December of 2017, I found you and I am grateful that I did! I am a beginner, like a baby. I didn't know anything. However, I just took your advice. I honestly don't know if I should or can write what I am about to tell you. I bought SALT and Vechain, because at the time it was cheap. I live in South Korea so this was before the new rules/regulations (January 1st, 2018)
And then after I bought SALT and Vechain, I just forgot about it. I am a English teacher so I didn't have the time to check. I also have a 24 month old daughter so you know how busy life could be. After Christmas, SALT rose so I sold it. After New Year's VeChain rose so I sold it. Thanks to you, I was able to make my first profit. I know I can't give you money for your advice (if you were here, I would buy you dinner and coffee) but just wanted to say THANK YOU from the bottom of my heart.
I believe you and liked the video about the railblocks. To be honest, I don't fully understand 100% but I am watching your videos whenever I've time. I watch the video few times until I understand or get tired of it :)
My wife is also your fan ! haha
If my comments are not allowed, please delete it. You have a fan in South Korea. Plus my friends, who took your advice as well. If and when you visit South Korea, please contact me. We will drink soju (like vodka) and eat Samgupsal (Korean bacon).
And Happy New Year! May 2018 bring you more success and I hope others will follow your advice and become rich.
Sincerely,
Stephen
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I don't know why I'm writing this comment because I'm probably not adding anything new but, definitely, you should not view the Raiblocks as a PR disaster.
Thumbs down is NOT and bad indicator as far as YouTube is concerned. It's good. It means that people were engaged with the video.
You said it was going to be unpopular before you made it!!!
Last time I looked it was 50:50 thumbs up/thumbs down. What's wrong with that?
99% of the negative comments I saw were obviously from uninformed, speculative crypto-newbies who had just jumped on the Raiblocks pump and were scouring the internet for justification for their actions. They didn't get it from you and missed out on the dopamine rush for that 5 minutes. (OK I did see one comment from someone who said you didn't mention a particular scaling solution of theirs).
Your core audience, I believe, are like me. People who can tell that you've done more research than most in the crypto-space, that you've obviously have experience in other trading markets, and that you have your own opinions that are extremely valid and interesting to listen to.
So, personally, I appreciated the Raiblocks video and I thought this one was unnecessary.
I'm writing a comment on this one but I didn't thumbs up or comment on the Raiblocks one. You see how irrational social media is?
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I think this is a misunderstanding of timetables. Raiblocks is going up way too fast for some whales not to have noticed. Once it goes on a popular exchange there is the nonzero chance it going to drop.
In 6-18 months will anyone still talk about raiblocks? No one knows, but it might still be a contender simply because it has captured the attention of the peaple who saw bitcoin as a new way to free us from the use of banks.
We need more peaple actually using these currencies for this crazy growth to continue, bitcoin is not there anymore and peaple are focusing on why that is mixed in with fomo.
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Fantastic point.
The big issue is that people may see value in a cryptocurrency before it is actually fully functional or has a place in the world. People invest, the price drives up and now its over valued because people realise it isn't actually doing anything (not specifically referring to Rai Blocks). This is most likely a part of CIs feelings towards what Rai Block is doing. It promises lots of great things, but if scalability is the biggest selling point, and then scalability is adapted, then you run in to massive issues of a coin in poor governance that has been pumped to the moon.
Good topic of discussion, way to get it started!
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Please don't feel like you've made a mistake by posting the first video on Raiblocks. To me it was very clear that you didn't bash the coin or its underlying technology. You just demonstrated that the expectations and the price action of Raiblocks are not in touch with reality especially when comparing them to other crypto assets which have a similar disruptive technology like steem and bitshares. There's really no reason to be apologetic about that. In fact it's a service to the community. And I hope that you continue to deliver great content and that you don't hold back on your thoughts even if it is going to result in dislikes or downvotes. Because let's be honest: The reason for the dislikes is because people are invested in Raiblocks and it's tough for them to hear your thoughts.
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Could you share your portfolio with your audience? :)
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Hello. Long time subscriber, first time commenter.
You have said that it is a good idea to have accounts on gdax and gemini. Today I registered on gemini. Annoyed that they're not using google authenticator for 2FA but whateves. What really got me is they want my bank ID and Password. WTF? I'm prepared to provide routing and account number but no effin way am I handing over my credentials to some crypto exchange. Or anyone else for that matter. Why would they even ask for that? Did you provide them with your ID & Pass? Seriously WTF?
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Yeah unfortunately this is the case with GDAX too. Made me uncomfortable too. I changed my password beforehand, entered it in GDAX / Gemini and then changed (within seconds) the password back to my original password just to be safe. The reality is they don't store your data and only need to do it once to verify your bank. It's safe, but I don't blame your paranoia.
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With Gemini you can use a 2FA called "Authy" which functions just like Google Authenticator. Trust me, Gemini is worth the time to set up.
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just keep what you doing. IMO you doing great. Most here follow you because of that. Its ok to apologies if/when needed but no need to do a whole video on that ;).
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Hey Man,
Unrelated but since you prefer chatting on here and I cant Private message you I was wondering what you think of Hashgraph. Ive lapped up every piece of information on it I can. I think it could be 'the coin'. could you maybe do a video on it? Thanks
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I think your honestly and no bs approach to evaluating crypto is what makes your channel popular even if its not always what people want to hear. I think that the reason you did this video is that I think even you were surprised at the influence you are starting to have in the crypto space. I do believe your video had a big negative impact on RaiBlocks price and you may feel a bit guilty that you may have ended the party. That's just how it goes sometimes. Just please don't bad mouth my DeepBrain Chain hehe.
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Always look at your work as free very informative information don’t see why it should be seen in other way.
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Pleas don't change just to please the audience. I think many of us is here because you are telling us what you think is the truth. And that's what's mater anyway. If we want fake there is a lot of other channel for that.
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Don't worry, I'm not changing.
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Just what I wanted to hear!
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Just as how it is impossible to gauge the overall attitude of a given market, it is also the case when you have reached your level of fame. There will always be a certain group of people which will be the naysayers and although you should pay attention to objectivity and take those comments into account, you should also have indicators to tell you what is a false flag in terms of a change in sentiment for your overall audience. I certainly don't have any idea how it works, but you should.
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Will you stop being sorry! You gave a very honest opinion and your delivery was BRILLIANT. You have actually answered a lot of questions running through my head as to WHY there so many cryptocurrencies and where the hell did they pop up from? In my opinion we will have about coins that will be mainstream and maybe 20 that will fill a niche market like Steemit for writers and so on. The rest will fade into oblivion. Don't bow down to whimps with hurt feelings. Christ, I'm a girl and so many men today are snowflakes. Never apologise for what you believe in. Keep up the good work!
As a side note so not to offend the stronger sex. If women complained t then they're snowflakes too
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"Demonetized!" :D :D :D
Dude, its already selling out. That shitty exchange has problems.
Im glad I didnt chase it. Nothing is missed, we will have our chance to buy a little - just in case.
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Thanks for the cool headed logical (even skeptical) approach and view of investing in crypto. There is so much hype and FOMO in this arena, we need views like yours to temper the sentiment and balance the perspective.
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Although I can understand how you would view it as a PR disaster, I actually think it is good PR and a part of what makes your content yours and why people want to hear from you. So don't go too hard and second guess yourself, or censor your thoughts in the future. Every video you make is one I want to watch.
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Cryptocurrency shouldn't be only about investment and high returns, people need to consider the use-case of a project / coin. It is normal for anyone to have a negative/positive opinion about a certain coin. People shouldn't hate criticism just because they have invested in that coin, nor should they hate if they missed a train on a mooning project.
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Hey man how come you always come off so negative? I mean you have good content but sometimes your rhetoric and tone is so negative you come off sounding like Jamie Dimon. Don’t get me wrong I like the stuff you post. Your one of the main 5 people I listen to and follow. But man. Sometimes it just sounds like ypur anti crypto all together.
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I follow you, because I dont need people who are telling me things I already know or believe in. Then I am in an information bubble. Your thoughts and views are more important to me, if they contradict my current opinion. Thank you for that, great work!
I will fear the day, everyone will have the same opinion as me.
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Raiblocks is suppose to only be a transfer of value nothing more or less and at that there's no better coin. You can still have all the other coins doing there intended task. Raiblocks competes with litecoin and bitcoin cash.
Who knows, maybe in the future those coins will be even faster and also have no fees but that seems to be a huge gamble.
Bitcoin can still be crypto gold.
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Hey man, I rarely like videos but I did like the one on Raiblocks, because you had your opinion and you weren't afraid to say it out loud.
But don't apologise like a victim, just take the feedback and make your videos and channel better. It's already a good one and I will stay subscribed as long as you keep producing interesting content.
Also show your face, I know it's hard but you gotta do it, it will boost your confidence and will make you more relatable.
Cheers
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No need to defend yourself from people attacking their own hallucinations about what you said instead of what you actually said. As if there wasn't enough hysteria in crypto markets already, 100x moves in a month really take people to a new level of it. Thanks for being level-headed in this time of insanity, people looking back on your content from this period 6 months from now will be very impressed.
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Hi Cryptoinvestor what do you use to make all the title pictures from your videos? They are very good and I've been wondering for a while now.
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I think people who can still look at this at a logical perspective know that Bitcoin is the keystone of the cryptocurrency market, and if it trembles one day all the cryptocurrency market will shatter.
I am a Bitcoin and altcoin investor myself and this is how I look at all this. The main hype behind the altcoins is making quick money. As Bitcoin seems to be saturated at the moment all the risk loving coin traders try to feed their appetite in these altcoin markets. With more people are chipping in everyday, prices inflate and there are more winners than losers at the moment. Which makes some emotional people believe in their own hallucinations. The logical investors are in altcoins just because to get more Bitcoins.
As you know even Ripple which is a coin published by a company with a great idea is a big bubble. The company's idea and business model can make a lot of money, banks or corporations may decide to use Ripple's model, but will never use Ripple coin for sure. Because it is not necessity, they can choose to create another network. And so on.
These people should thank you for getting the hard truth.
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I thought the video on RAI-Blocks was great. Most people are just fishing for opinions/views that already support their current position, as a means of validation, and really aren't open to another point of view. On the flip side, there are many people who need to hear your salty reviews, so they come back down to earth a bit. We commonly hear "X-Coin to the Moon!", "Y-Coin to the Moon!" I don't think you need to apologize. We live in an age of "having to clarify our comments" and it is really ridiculous when you think about it. Please continue being the Voice of Reason. Thanks for your efforts in making this the best cryptoassets channel.
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I do not think you should need to apologise. It was clear to me that you were not bashing the technology, just the fact that a lot of people were jumping into an investment for a project that is still in development.
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Don't apologize man! One of the reasons you're my favorite channel for crypto is because you're level headed, cool, separate emotion from facts and data and that you speak your mind. Seriously, to hell with the complainers. I want to hear what you really think, not what you think we want to hear. You just do your thing; you're doing a fantastic job.
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You may have come across as a bit arrogant and perhaps you can be a bit kinder in expressing your opinions but I genuinely love your opinion and demeanor. People need more tough love baby!
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I hope you genuinely don't lose validity due to the previous video.
One of the most frustrating things in today's world is people putting down others for speaking honestly. If you have an opinion then it is okay to share.
Now having said that the important thing is that if you are WRONG in the future, that you can openly admit to the mistake. This in combination with honesty is a foundation to strong character.
Really hoping people ease up a little and see the positivity.
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Maybe a bit off-topic but I wonder what your stance is on this matter. It seems like we share the idea that the whole crypto-market is a bit early in his major bullish run of the previous couple of years. I don't like the term "bubble" at all but it is a simple way of saying an over-enthousiastic over-evaluation without solid ground to justify it.
My question would be: if tomorrow sh*t hits the fan an it pops, and I mean in a catastrophic way, wiping away nearly all the value you are currently holding without giving you enough time for countermeasures; would you be crying under your desk in foetal position, or be throwing the very last cent you were able to scrape into the market awaiting for a moderately fast recovery ?
Simple question but I feel there's a lot of underlying implications in it.
Thanks for reading me and keep up the phenomenal work !
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I won't be crying because I've already made my money back and then some.. a lot actually. But yes, I'd throw some more money at it after a certain point on the way down, money that I'd consider the equivalent of buying myself something frivolous like a new car rather than a real investment.
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can you make more videos like previous one - about the coins you don't like? Or maybe not the coins, but in general about things you don't like or are perceived too optimisticaly
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I think your opinions are on point as always. The only thing holding this market up is FOMO and once that fear goes away; oh man we are in for a wildddd ride.
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Hi mate, really enjoying your videos however, it would be good to return to fundamental economic analysis as any clown can look at technicals and speculate bubbles.
I'd like to hear your thoughts as to what CFD's may do to the crypto markets as they become more available. Could this present some downward pressure on BTC as investors would no longer need to purchase the underlying assest and enjoy higher liquidity / secuturity trading via a CFD?
Also, it would be good to hear your thoughts on how the Futures contracts have been trading relative to the BTC price since launch and how institutional investors have taken to it.
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Why should currencies like Litecoin or IOTA be worth more than RaiBlocks? They try to solve the same problems RaiBlocks already solves.
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That's pretty valid, but the one detail that makes me think CryptoInvestor is probably more right than wrong is the fact that RaiBlocks have been around for quite a long time and nobody picked it up. Its not a coincidence right? I mean, other cryptos with great tech were picked up fast, like Cardano, Iota, etc.
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I say your last video was alright. I was having a hard-on for RaiBlocks when I watched it, and I still have a hard-on for RaiBlocks right now, but I didn't have any sort of emotional break-down towards your video like you were attacking my sexual fantasies. In fact, I'm still gonna' stick it to RaiBlocks, but I'm gonna' pull out before I climax because you've convinced me I need to take some more time to get to know her better before I make any long-term investments in the relationship.
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2 months later and the markets seem to have a different perspective than you . Time will tell if it can be sustained
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Your channel has been recommended to me by another poker player and so far I haven't seen any more analytical youtube producer in the crypto scene. As I've played for reasonable stakes in poker and invested in stocks in the past I already am familiar with the emotional attachment , the euphoria etc. that I see among the masses when it comes to cryptocurrency. It's very important that there is somebody on youtube that actually stresses this and helps people have realizations about risks when not treating crypto as a high volatility investment.
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Cryptovestor, I started following you yesterday even though I was and still am taking the other side of the trade (long XRB speculation). I have quite a bit of experience in the stock market including the first dot-com bubble.
I follow you because your ideas and viewpoints are always well-reasoned and I appreciate that.
Keep up the good work
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Funny, I watched the original video about this and I had some thoughts about it, but nothing negative. Couple of thoughts: One, I think the second biggest problem in cryptos is user acceptance and spend-ability. Two, I can't figure out the logic behind putting value on a coin with zero transaction cost. That makes perfect as a frictionless medium of exchange, but why would anybody hold it? Its value as a frictionless medium of exchange is only good if it is stable in value and that value is likely close to zero. What am I missing here?
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The good news you have the opportunity to make more videos. I will still watch your videos.
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Keep doing what you're doing. I was slightly disappointed that you felt the need to apologize to the rabid fanbois who criticized your video, but I expect that was just a response to being trampled by the herd.
After you mentioned it, I took at look at the Raiblocks subreddit and it's like a crazy religious cult over there. Reminds me of r/bitcoin.
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Jimmies were rustled. Including mine, and I think you made a fair case, however it would have been better if you went with a more analytical video as to why you were bearish on the thing instead of a reactionary video on just the "irrationality" of the price action alone. The price is going to do what it's going to do. Trying to say with certainty that a move IS or ISN'T rational is not really contributing much in terms of either being bullish or bearish. I can't tell you how many times I got squeezed in a short position on a stock while staring at my screen saying to myself, this should've have happened. It's just not rational that it would do this. lol. Also, I think you angered people due to your choice of words. It's one thing to say that something is way overextended, but an entirely different thing to say that this is the "biggest pump and dump". The second has way more negative connotation to it because it's often used to describe the lowliest of shitcoins/ pinksheet pennystocks. Now combine this with people that are heavily exposed in RaiBlocks and of course people will be upset. Fear is still the stronger emotion than greed in this speculative game. There's a reason why these charts always take the escalator up and the elevator down. If it any comfort to you, I think you are a great guy that gives excellent advice that I appreciate, even when you are dead wrong ;)
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There are people who still care about the tech, and invest accordingly possibly those who got raiblocks sub 5 even 1 $ are these guys, scalability seems like an issue right now because of all the drama around bitcoin.
But; Market in general right now doesn't care about the tech. Market follows one trend, get rich quick, what is the next 10x coin ? And raiblocks can be that, tell people it's free transactions(I mean doge is also almost free to do txs too, and you can actually use it to transfer value between exchanges), Binance/ bittrex soon, Rebranding soon, and people will follow it blindly, just to buy the rumors and sell the news. I missed the dip of the dip, still paying attention to xrb, and will take a position, I don't care about the tech, or it's possibility to go mainstream, I'll ride the wave.
In terms of governance, and different multichain protocols, that'll be the flavor of february and possiliby march, maybe q2 depending on launch of certain assets. 0x aragon eth are holy trinity and I think we are likely to see "flipenning" this year too, at least until eos is released. But don't mention that yet :) I'm not satisfied with my positions on ant and 0x just yet :)
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This time wont like or dislike your vid. We are here to listen a quality content related to investment in crypto currencies, thats all.
Some will agree or not thats life. We expect from you to share your thoughts, ideas and tips regarding INVESTMENT.
Rather than that keep on delivering quality, I presume is your goal. I am sure most will appreciate that. Have a great day!!!
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I didn't actually mind the salty tone. You could've gone a bit more into depth but it wasn't too bad. Honestly, I think it's important that there is someone who's gonna burst everyone's happy bubble and give them a quick reality check. Railblocks is already falling and people have moved on to the stellar, ada, nem and trx hype train as well as back to the ripple insanity
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Your points were clear... I think people are not reading out of the line but rather reading into with each one's bias and view.. The technology is not the issue but rather how all of a sudden the coin is getting hyped up... As you stated, it looks like a pump and dump...
Also, seems like the coin is dropping as it reach its high value around $37 and drop down to $25.82 (as of 1/3 1:04pm EST). It could go up but seems like what you perceived the gain seem paralleling to a pump and dump...
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A bit off-topic. I've been watching you videos for about 2 months now and I do like your sense of caution when investing. So would really appreciate your opinion on Dascoin. Legit or another MLM scam?
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I started to follow you from what you published that article (I voted for you even if I do not share your point of view), and I explained it in the comment https://steemit.com/raiblocks/@cryptovestor/why-raiblocks-will-end-as-a-pump-and-dump#@twon/re-cryptovestor-why-raiblocks-will-end-as-a-pump-and-dump-20180103t145544314z
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I think the problem with the previous post is that it feels emotional rather than your traditional fashion of being rational and showing us anything technical stuff(like moving average). I think everyone is subject to their opinion but it is best to make a argument based on facts rather than feelings.
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Ivan on Tech explains the technology behind RaiBlocks, for those who want to know:
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You need to tell your critics to F.... off! They don't like your content, their scroll past finger isn't broken!
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Dont worry, people are always looking for confimation bias, and with internet anonimity its Just easy to drop the Poison.
You probably should have used better arguments, but some people will always attack the person, not the argument, when they dont get their confimation bias satisfied.
Keep up the good work and dont feed the trolls.
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I actually don't see what's all the fuss about and why so much dislikes on your previous video. Much of it you said is true and follow up video with redemption is unnecessary. We know you are a good guy otherwise we wouldn't follow you :)
Keep up the good work!
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At what point do all cryptos come crashing down? I'm afraid the big bad government will ban all things crypto soon.
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I registered so i can say thank you for all your videos.
You are a very rare professional contributor in between all the kids who do not know what they are talking about.
personally I believe in the technology but
i do not believe any coin has a real value, I presume crypto coins have the worth what the fool wants to pay for it. And its smart to ride the wave if you can earn money with it .Including Raiblocks..
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"I don't think crypto assets that are trying to be currencies are well positioned for the future."
I am dying to hear you talk about this!! Please please make this future vid a priority if you can!
This topic is near and dear to my heart. I'm a comic artist who'd love to get paid in crypto and eliminate the fees of the current system. But you are 1000% correct with your fair criticism of Rai Blocks - and every cryptocurrency out there. Every coin I've looked at is just too damn hard to use!
RaiBlocks as an example: even if an average person can easily sign up for their online wallet, it's too hard to actually get the coins! Nobody is gonna deal with an exchange just to buy a comic. :\
And let's say even if getting the coins was easy -- it's not a currency they can use across the web. Even if I somehow managed to convince someone to buy my comic with XRB, they can't use the coins anywhere else! It would be a single-use currency, and ain't no one got time for that. I certainly wouldn't do it. :/
It's almost like there has to be one dominant currency coin? How else will we get wide-spread adoption? Eagerly waiting for your take on the situation!
Thanks always for excellent content.
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As someone who doesn't possess much skills on market outlook your critical opinions means so much to me to anchor myself while not being sway by the public waves. Stay real my friend.
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