On August 16th my wife and I, along with two entrepreneurs I had recently introduced to bitcoin, attended a conference in Monterrey Mexico called Bitcoin Day. My entrepreneur friends and wife wanted to go and I agreed without checking the speaker list. My bad. . . will always check in future.
I originally started this article right after the conference . . . but found it so difficult to write I postponed writing it until now.
It is a phenomena my good friend Tone Vays has talked about many times . . . but I could not believe how bad it is . . . without experiencing it first hand.
The conference was prominently advertised as Bitcoin Day, prominently promoted using the Bitcoin unregistered logo, and was a tour that visited a half dozen Latin American countries. . . .
The problem was the conference had absolutely nothing to do with Bitcoin . . . and had everything to various ICO’s being pawned off to newbie enthusiasts as “better than bitcoin” or at best “the next bitcoin”.
The closest thing to bitcoin was a presentation by Rootstock which is a smart contract platform being built on bitcoin. . . and there was one redeeming presentation by my good friend Pablo Gonzalez, CEO of Bitso, who did a presentation on Hodl and and Buidl very similar to my Hodl and Sayvv . . . in fact I like his term better! The problem is Pablo applied the principle to all crypto, not just bitcoin. . . which is a fatal flaw and bad advice for newbies coming into the space.
I AM SAYVVING
At a recent hearing CFTC Chairman J. Christopher Giancarlo famously attributed the bitcoin term “hodl” to be an an…
HODL applies to bitcoin and bitcoin alone . . . no need to trade at all . . . in fact most people are not suited to trade . . . because you are playing against professional traders . . . just like most should not play poker . . . so HODL, HODL, HODL . . . . SAYVV, SAYVV, SAYVV . . . SOUND MONEEE! . . . it is not a riddle . . . it is poetry to learn solid principles to successfully invest in bitcoin. . . and how to cash out on your eventual success. . . Bitcoin is sound money, Lite Coin is not sound money, Ethereum is not sound money, BCASH is not sound money, Monero is not sound money . . .
By the end of the conference I was livid! I was waiting for open mic and Q & A so I could expose the bait and switch and demand a refund. . . when there was no Q& A. . . I loudly made this known in English at the after party in the lobby following the event. . . which apparently quickly caught the attention of some English speakers and I was quietly introduced to the event organizers who wanted to know what was the problem and what could they do to make things right or make things better on the next tour.
I then escorted the event organizers to their stage . . . and pointed to the Bitcoin Logo . . . and the Bitcoin Day neon lights. . . and said the conference is a fraud because it had nothing to do with Bitcoin and everything to do with alt coins swindling people from their hard earn savings by leading them into “the new bitcoin” or some “better than bitcoin”.
I explained that there is nothing wrong if these alt coins and ICO’s want to promote themselves under their own name or logo. . . the problem is Bitcoin is being used as the lure to deceive investors . . . I also indicated I loved the title of the event Bitcoin Day and that it was a tour going all over Latin America. . . but that they needed to deliver on their promise . . . and not bait and switch the unwary public with such deceit.
To my surprise the organizers were young enthusiastic newbies to Bitcoin who had started to realize the problem on their own by the end of the tour and attempted to rectify the problem by inviting a few bitcoin maximalists to compliment the program . . . without success. Further, they actually did not come into bitcoin through bitcoin . . . but through one of the alts . . . and slowly started to come around to the Bitcoin maximalist thinking through their own independent exposure and study!
I am so glad now that there was no open mic. . . I am so glad now that this Ugly Old Goat did not have the platform to expose a fraud . . . because these are two young enthusiastic guys don’t need my chastising. . . these are two young guys that need my encouragement and the encouragement of all Bitcoin maximalists to help them deliver on an excellent idea of a Global Bitcoin Day Tour. . . hey guys, we can’t drop the ball. . . only we can pick up the pieces and deliver truth. . .
We are going to win the current battle. And it will be won through persuasion and market forces . . . and it will be won without compromise.
This article is finally being completed as I attend CoinsBank Blockchain Cruise. The cruise is promoted as blockchain which includes bitcoin. There are plenty alts and ICO’s here. There is Roger Ver here with his personal agenda . . . and there is a core of bitcoin maximalists here that know there is only one blockchain . . . Bitcoin.
As I finish this article I leave to watch Jimmy Song debate Roger Ver. I leave to hear Tone Vay explain why only Bitcoin will rise from the ashes from the trainwreck about to hit the crypto-space. . . .
And I leave my readers with this note . . . there are amazing things coming . . . it will require a lot work . . . and it will require your participation and support to succeed. . . we will be entering a dark space . . . but we will emerge victorious . . . and I am grateful to be on the battlefield . . . and deliver exciting new things in the months ahead.