The Big Lie regarding the Crypto Ad Ban


View this post on Hive: The Big Lie regarding the Crypto Ad Ban


In mid-February 2020 Justin Sun acquired the shares in Steemit Inc and proceeded centralise the blockchain under his control, improperly using Steemit's founders stake (intended for development and decentralisation of the blockchain) and tricking exchanges into initially supporting his power grab.

After extensive efforts to resolve the dispute failed, the community revolted and formed a new, fully decentralised blockchain - Hive - without the pernicious influence of Justin Sun and his minions.
Because of Open Source licensing, Hive was legally able to duplicate all the code and content on Steem.
The vast majority of the community and decentralised applications and projects moved to Hive and Hive was listed on many cryptocurrency exchanges without having to pay the normal listing fees.

On 19 May 2020, a Steem hard fork (0.23) designed to steal the Steem from 65 accounts associated with creating Hive became public.
My position on this hard fork can be found here: https://peakd.com/hf23/@brianoflondon/letter-to-exchanges-do-not-run-steem-hard-fork-23-hf-0-23-0

This was the final straw for my involvement with Steem.

I will now post exclusively on Hive at https://peakd.com/@apshamilton/posts
All my old Steem content can also be found on Hive.


I've been running [@jpbliberty](https://goldvoice.club/steem/@matteozago/why-the-net-giants-are-worried-about-the-web-3-0-44b2d3620da5](https://medium.com/@matteozago/why-the-net-giants-are-worried-about-the-web-3-0-44b2d3620da5)

Big Lie comes from one flawed report

Tellingly for a Big Lie, all the news allegations about a very high percentage of ICOs being scams can be traced back to a single flawed report by a group called Statis.

I don't know who they are and they have no official status.
But under the terms of their own report they classified Reddit posts about an ICO that other people said was a scam as an ICO scam.
They also admit that the vast majority of money lost on so called ICO scams was in just 3 scams.
Thus they vastly inflated both the number of ICOs and the number of scams based unverified, defamatory hearsay and trolling.
Anyone can say another project is a scam. It doesn't make it so.

Failed projects are not scams. 95% of all tech startups in all areas will fail.
That is the nature of innovation and capitalism.

And I’m not the only one calling out the vast overuse of the word “scam” in the Crypto Industry. Here is Naomi Brockwell (@skycorridors) on the topic https://youtu.be/vf_msoVIPac & https://youtu.be/ssX0RFVW-TQ

Technical requirements make real ICO scams rare

An ICO in late 2017 / early 2018 required smart contracts to be set up on the Ethereum (or other) blockchain. A simple Reddit post does not constitute an ICO. And other people calling it a scam on social media doesn't make it one. The level of unjustified and defamatory attacks on other projects in the Crypto Industry is high. It is not evidence of a real scam.

The technical requirements for actually sending money to an ICO and receiving ICO tokens during late 2017 & early 2018 were pretty high and certainly not for naive investors.

  1. Having purchased or mined Ethereum (ETH);
  2. Sending the ETH to your own cryptocurrency wallet;
  3. Sending ETH from your own wallet to the ICO wallet.

No one without a decent understanding of Crypto could even work out how to do this! So the people who lost money in real ICO scams knew about crypto in detail and were, in that sense, experienced investors.

I note here that because of the very large amounts of money that early crypto true believers made and were looking to reinvest, the huge numbers of projects available to invest in, and the practical limitations on individual investor's time, the strategy of just putting some money in everything your heard of, without doing due diligence, was a legitimate investment strategy.

Yes, you might lose some money to scams, but it made sure you had money early in the projects that would be hugely successful and make up for all the other failed and (few) scam projects.

So this is the BIG LIE that Facebook used to cover its own illegal banning of all crypto industry ads on 30 Jan 2018.

Signup for the Crypto Class Action against Facebook & Google's Crypto Ad Ban

https://gateway.ipfs.io/ipfs/Qmd9Lme3FP2CMxtRbuQWCuiVdpWNp6EdKa5BkQ4gqRZ4mz


Comments 20


Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

08.07.2019 05:30
0

This is brilliant. I've got to see if we can widen the distribution of this article.

Posted using Partiko iOS

08.07.2019 05:34
3

Reading this I ask myself, how many scams are in traditional bussiness?, would anyone ban traditional ads because some of them were scams?.

What about all that ads about products of beauty where they promise making you look younger? or health products to slim down that promise you miracles in weeks?.

It's pretty absurd I think to ban an entire industry because some of them are scams, that happens in every traditional bussiness.

Good initiative @apshamilton, I hope that your legal actions have success. Cheers!.

08.07.2019 06:43
2

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08.07.2019 11:51
0

I wish you luck my friend. It's going to be tough with their high powered expensive lawyers. Justice is proven to be bought.

08.07.2019 15:41
2

They don't get to fight in California.

Posted using Partiko iOS

08.07.2019 17:03
1

You know what beats high powered expensive lawyers. A better lawyer who is prepared to work for free if needed. Me!

Posted using Partiko iOS

09.07.2019 09:54
4

and you studied the gemmorah ;) So they don't stand a chance.

09.07.2019 15:05
2

I know the Australian government is starting to look hard at Facebook and Google for their influence over markets and politics. I wonder if they'll consider the lies about crypto - hm, maybe not! But Facebook is such an asshole, wouldn't trust anything it said. Great truth here!

09.07.2019 02:29
1

Yes, front page of the Sydney Morning Herald today!

Posted using Partiko iOS

09.07.2019 03:34
3

Ah, it was in The Age yesterday. Where are you from?

09.07.2019 05:16
1

I’m from and in Sydney currently. Actually it was yesterday in SMH.

Posted using Partiko iOS

09.07.2019 07:46
3

THANK YOU for entering @freedomtribe's TRUTH challenge.

Yep - the crypto-scam 'thing' is a huge, big, fat, lie. Appreciate you bringing this one out and presenting such a clear case. Resteemed.

Good luck with your entry!!

If you haven't already delegated to @freedomtribe, please consider joining us and receiving regular support for content around our 5 curated tags of #freedom #truth #life #love #happiness

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09.07.2019 05:22
1

Typical facebook. They never seem to have anything not-shady. I never knew about this so it is a real eye-opener.
I believe it is the huge governmental backing they have that they can always get away with anything of this magnitude. All the lobbying and everything clearly is a front. Thanks for sharing this

10.07.2019 19:31
1

How can a lie gain so much traction? If someone put some money into a project and that project failed to become the moon-shot they had hoped, the investor might feel cheated out of their money, even though there was no scam in it. It is simply a probable outcome of a risk they knew they were taking. If someone else (like fb) starts yelling scam because they afraid of actually successful competition, this investor is more likely to jump on their bandwagon.

11.07.2019 16:24
1

You make a good point. It’s easy to yell scam to cover a bad investment decision. Shifts blame.

Posted using Partiko iOS

11.07.2019 22:39
4

Thanks for adding clarity to this situation!
Of what people will call crypto scams that are often just failures and uncovering Facebook's big lie!

11.07.2019 22:36
1

This was very interesting!!! Makes you really wonder!

14.07.2019 01:46
0

@freedomtribe sent me. I wasn't really aware of this issue. I knew, just from looking at the immense number of cryptocurrencies, that many were largely fly-by-night attempts to exploit speculation, in keeping with financial tradition since time immemorial. I doubt anybody expected Zaniecoin to go far. That doesn't make it a scam, however.

18.07.2019 11:12
1

In such a fast growing and moving, innovative industry even a joke project like Dogecoin can become serious and succeed. Unless actually fraud is involved, every project is legitimate and may succeed.

Posted using Partiko iOS

21.07.2019 21:47
5