Twitter Rumor
So there's a rumor going around that the person being assaulted by potential market manipulation was none other than Justin Sun. He almost got a $1B position liquidated but added more collateral to it ($300M).
In the wake of this happening SBD then exploded to all time highs not even seen in 2017. Pretty crazy stuff. SBD now has a higher market cap than the entire Hive ecosystem. Pretty batshit. I should go make a post over there and sell the rewards for Hive... it's been a while. Too bad I can't copy pasta this one without getting negative attention.
https://www.theverge.com/21459906/bittorrent-tron-acquisition-justin-sun-us-china
So this is a crazy article about Justin taking over Bittorrent. It's super long and I only skimmed it. We all know what a chaotic psycho he is, why preach to the choir? But I do remember something very significant from the article:
“Justin Sun wants this to be a porn app so it can get around the Chinese censorship laws and Great Firewall.”
The key was exploiting the BitTorrent protocol. “Because the nature of [peer-to-peer decentralized sharing] it’s extremely hard to track down and shut down when something gets started and gets seeded and gets transmitted,” a former employee explained. “Best case scenario, people can talk about freedom, democracy, Tiananmen Square, and political reforms and all that stuff.” But it was a Pandora’s box, they explained. Anything could be live-streamed — child abuse imagery, terrorist content. “Even worse, you can have people livestreaming themselves murdering people. And the government and authorities wouldn’t have a way to shut it down.”
Now, the team knew and confronted Sun. But his response shocked them. “He explicitly wanted Pandora’s box! To him, because in China, in their environment where everything is restricted, where everything is so tightly controlled, he imagined if he can open this Pandora’s box and then the government can’t shut it down. He would have an exclusive stranglehold on the market in a place where anything goes. Anything that people used to not be able to see, to do, to broadcast... Now, anyone can do that, at any point, and it’s unstoppable.”
And everyone would use Tron’s cryptocurrency to buy in.
lol holy shit.
So yeah Justin Sun is a fucking hurricane, and he is constantly in rampage mode. Seriously I need to read that article fully but I'm too busy with other stuff. Don't have the metal energy for it.
The point here is that it would make a lot of sense that he's already made many enemies in high places, but a lot of those enemies are also the enemies of crypto in general. Could his presence end up being a net gain for cryptocurrency and the world in general? However unlikely, it is possible.
Not that I'm rooting for child pornography and snuff films to rampage the internet, but on a very real level we don't get to decide to throw the baby out with the bathwater. If we want to live in a censorship resistant environment then we have to take the bad with the good. There's a reason why freedom of speech is allowed to be attacked so often: allowing people to say whatever they feel like isn't always great. The communities we forge will have to come to consensus in order to censor content that is truly worthy of being censored, and even then that is a slippery slope: some communities will allow everything just out of spite for the old system.
Silver lining.
If Justin Sun is going to run around like a maniac poking holes in the legacy economy: I'm all for it. This house of cards needs to come down sooner or later. Who knows, perhaps he will be a major catalyst.
However I do know one thing:
I'm very glad Hive has fully distanced themselves from the situation.
And then he got sucked in anyway and died IIRC.
Conclusion
Will hurricane Sun wind up doing us a favor one of these days? It's possible. The enemy of my enemy is my friend. That being said, he's quite the Chaotic Neutral character. Anything goes with this guy. I think at the end of the day all we can do is run for cover as the bomb continues to tick.
It's honestly hard to believe how this kid is still alive considering all the crazy shit he is pulling. Perhaps the world is far more lenient than we conspiracy theorists are willing to admit.
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Well I guess we are all living in interesting times. Thank goodness we got the fork out of Steemit.
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In the case of Dave portnoy(thestoolpresidente on twitter) who just announced his advocacy for Safemoon token barely even knows what Safemoon is, I wonder how much he was paid for that, considering he's sitting on some stacks. Perhaps people like him are in pursuit of other mundane things, fame?
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lol Portnoy is such a paper-handed tool
of course he jumps on the safemoon train... christ
yeah there's a lot of posers out there looking to get theirs
This dude is an absolute schemer. I am happy if he actually got rekt, maybe it'll keep him from doing diabolical crap like usual
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IMO steem will bust super hard. If the Bullrun is at some point over, steem will fall pretty hard.
It is crazy people buy SBD for these prices. It's such a big bubble :P
Sadly I don't hold any :) otherwise, I would start a nice self upvote farm. But I also think this is the point of the high price.
Because buy steem + self upvote is a nice profit thing at the moment. Special if you hold larger amounts for a longer time.
But we know, it's not sustainable
I would expect hive will become a larger demand from the Korean community if the leech is over :)
And I can only say, they are welcome here.
Besides this, it is really interesting the creed and circle-jerking/selfvote end up at such high prices.
It also shows IMO the weakness hive has with first layer rewards. But I'm more bullish than ever, even after the facefuck day yesterday :). Hive will be such a big thing with full customizable Smart contracts + the social features.
The point will come second layer tokens will generate so high revenues, to enable hive to be long-term top 10 in MC.
Btw, thanks for posting because I don't track the self vote farm :) The only thing I have done was looking the impact of power down and price/abuse :)
Now lets just hope that SBD tanks and a second liquidation happens. Or will he be taking profits along the way going up to make profits off the bag holders?
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who knows: he's very unpredictable
That's admirable.
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Well it would be great if he did us a solid for a change... let's hope so
Hurricane Sun is too cool of a name for him though, he doesn't deserve it... not yet at least LOL
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At this point I ask myself, is there a need for influencers in the crypto world?
At this point, don't see us stopping them, as long as these projects are willing to pay for some shilling, they will bite,.
In the case of Dave portnoy(thestoolpresidente on twitter) who just announced his advocacy for Safemoon token barely even knows what Safemoon is, I wonder how much he was paid for that, considering he's sitting on some stacks. Perhaps people like him are in pursuit of other mundane things, fame?
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Probably, people think that fame goes hand in hand with money, I have seen a lot of celebrities lost without direction, you have to be careful with that
There is no need for influencers at all :)
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Is there a need for influencers anywhere in the world?
Does anyone know how he nearly had a $1B position liquidated? Did he have a long position on BTC that was due this week? Also, how did SBD then spike up? Were people buying it or does Hurricane Sun have a bunch of friends who'll buy into whatever he wants?
lol who knows I'm just wildly reporting rumors and noting the insane SBD spike
I assume he must of had that long position.
Makes sense considering how crazy he is.
At the end of the day it's way easier to moon SBD than Steem itself, and mooning SBD makes Steem a lot more attractive to everyone earning there. It's likely profitable to purposefully take a loss pumping SBD if he can get outsiders to pump Steem to farm the SBD.
I'm totally imagining that he's taking profits from somewhere else to buy up all the SBD to moon it... surely this is a terrible long term strategy... who is going to buy into something that's severely overpriced and controlled by one person who could rug pull any second?
Haha, you're funny.
I think you fail to realize that he is a master manipulator with a shitload of cash.
Haha, I try my best...?
Definitely agree on all the cash he's got, but I'm totally letting my bias against slimey dudes to stop me seeing him as a master manipulator. I've really only paid attention to the things he's failed... really should educate myself better... but also...
so much ew, David
I second this question
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Imagine his kind of influence but on the good side, I was still having this Convo with someone on here yesterday, only 1% of the influentially capable people do the "right" things..
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yeah and a lot of those people get crucified for their actions
I'm also in support if Sun's goal is to get a decentralized platform for overly regulated China, that would be great. People would abuse it but that would be as bad as all these regulations if you ask me.
One thing is certain: he's not boring.
That's for damn sure.
Well, that's certainly an interesting way of looking at it haha.
They will get Sun in the end.
He got lucky this time, but can't duck and weave the absolute avalanche always chasing him down.
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Is this a Riverdale Article written by Jughead Jones?
LOL
I love how nonsensical that show is and I love how this feels like one of their episodes.
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So thats the reason why sbd pumped last few days
So, is justin sun a great genius or a great psychopath looking for his own benefit? well, both, since by doing this his currency will go up like crazy, but it will also open the door for other developers to look for a way to do something similar and make cryptocurrencies an important part of the market.
The bad thing about this situation is that this gives more strength to governments to declare war against cryptocurrencies as they see that they are used for allegedly illegal purposes, but what the heck...
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