Crypto Market Suicide and Scammers | Telegram Talk

7 min readDec 24, 2018

This article is an edited, shortened transcript of this video featuring Synth; the message of the content has not been altered.

When the Skycoin market cap says 25 million, it’s actually 25 million!

We’ve never had any paid volume, so when we have 1 million dollars a day in volume… that’s real volume. We don’t have any bots, we don’t have a paid market maker, and we don’t do the financial manipulation that most the other coins do.

If you’re an insider in the market you know about all this financial manipulation, and you’re basically forced to do it! If you don’t do it your market maker will do it for you…

We don’t do any of this!

So to get to a top-10 position we have to do it based upon merit, upon technology, upon the platform and user growth!

It’s actually very funny because we had people invest in Skycoin; one guy bought five million dollars and he said “I invested because you guys weren’t scammers” But when he’d invested his money he asked us to do what all the other coins were doing…

This year we had lots of media coverage:

2018 was the first year we were able to get into mainstream media without having to pay for it. Because of all our software, hardware and a lot of people just like the project because we’re not scammers.

The market is dying right now; most of the money is leaving the market.
People are committing suicide and jumping out of windows because they took out a bunch of debt, and lost it all.

Now they’re losing their houses… They re-mortgaged to buy Bitcoin when it was at 20k and rode the market down to 3k; leaving them broke and miserable.

In one month we knocked out 2/3 of the requirements.

We have two more software modules to implement before New Year’s, then we can start launching the main-net and working on the GUI. We’ll also be switching over from test-net to main-net, the Coin Hour Bank is already done, the Coin-Join server appears to be done and the hardware is pretty far along.

I think Skywire should be done in January and we should have consensus and CX implemented and completely ready by February or March.

So as we’re going into the market run-up we’re gonna have all of this ready and being released.

A lot of investors are looking at Skycoin while the price is low!

Right now it’s really easy to do OTC sales; then we could use that money and dump it into six hardware projects which increases the market cap by 50-100-200 million… Because we’re actually re-investing the money in development instead of running off to the Caribbean and retiring like the other projects.

I’ve seen people raise 2 billion dollars and do nothing!
No work…
No Github activity…
No staff hired…
They shut down the website and ran off with all the money!

Going through the bubble in this industry has been the worst experience of my life! It’s been very dark and psychologically traumatizing because of the number of scammers, sociopaths and people trying to steal from me and the project…

It really really toughened me up, I was naive and I trusted people at the beginning of this, I thought people wanted to do good for the world, but they’re really just greedy animals.

The majority of people are good, but about two years ago all the sociopaths and scammers rushed into the blockchain industry to basically scam everyone they could.

People got disillusioned because they invested in 100 ICOs and got scammed by 99 of them. Then the market crashed and they lost money on even the legitimate projects.

We’re going to see governments launching their own tethers

The IMF is telling countries to start launching their currency on blockchain. This means you can have the currency on the blockchain and hold it in your Crypto wallet without even being in the country. (Meaning you can travel anywhere in the world without a ‘bank account’.)

We’re also gonna start seeing real estate projects, a lot of different plays in the utility sector and assets launching on blockchain… I think in 2019 we’re going to see actual real-world usage of blockchain instead of the speculative craze going on now.

Lot’s of these companies have expressed interest in launching on our platform.

There are peer-to-peer sharing communities of around 2 million people; hardcore music people! That are hiding because of the legal threats they received. With decentralization, those communities are going to come from the underground back into the mainstream.

I don’t know if anyone remembers Pink’s Palace (Oink’s) or What.CD or all these little Bit-torrent trackers where they basically went private so the public couldn’t get access easily.

So if we do what those communities are asking; if we get them on the platform around July… Some of these communities are two million people plus, so from just one application on Fiber, we’d have more users than Bitcoin or basically any other blockchain project.

I think we’re going to ramp up the aggression level in the next four months! We’re just going to focus on massive user acquisition, how that’s done specifically doesn’t really doesn’t really matter…

Comcast is going to be a big hurdle for us!

I don’t know how they’re going to react from a regulatory sense once we launch main-net and start taking some of their market share.

There are many cases where Comcast, Time Warner, Verizon etc. have refused to provide internet connectivity to rural communities; stating it wouldn’t be profitable to do so… then when the communities take it upon themselves to set up WISPs the big ISPs come in with lawsuits trying to shut them down!

There are industry groups like Google who don’t like Comcast and Time Warner, they’re getting shaken down and they’re using Google Fiber as a ‘threat’ against Comcast. They started ‘competing’ with them in the ISP market even though they lose money; just to hurt the ISPs stock price and use it as leverage.

Officially you’re not supposed to use encryption according to the FCC rules… But if you’re just packet forwarding encrypted data and your nodes aren’t doing the encryption; there’s no issue.

There’s this thing called packet radio. You forward packets over ham radio, the packets might be HTTP packets which are encrypted but your ham radio transmission isn’t encrypted. So there’s no way to actually use the internet over packet radio without transmitting encrypted traffic… Which means the FCC rules are basically obsolete.

They’re irrelevant and unenforceable because they’re absolutely absurd!
If they actually started fighting people, and enforcing their rules they would get huge popular backlash.

Skywire as a niche is going to provide backhaul bandwidth:

Providing backhaul to the Telecom Service Providers (TSPs) and also the Wireless Internet Service Providers (WISPs) is a huge niche for Skywire! I think we’re going to be an industrial telecom used by corporations, wireless telecom providers and backhaul providers.

Technical users will be able to directly connect to the network for the civilian or consumer side of the market. This side of the market is okay but most of our traffic is actually going to be corporate. I’m looking at what the intra-city bandwidth market is right now and what they’re paying… Skywire will be able to get a few million a month in revenue very quickly, even from relatively small installations.

I prefer an FPGA over ASICs!

As soon as Skywire is done in January, I think we want to go to FPGA implementations; because all Skywire is doing — is getting a packet and forwarding it.

We’ll probably have some type of hardware miner because we need to make it easy for businesses. If your business wants to plug in like 40 nodes, you just plug in 40 nodes and they’ll work. this is literally Zero-configuration networking! Plug them in, and it’ll find the route from A to B.

This networking technology is amazing because you don’t have to know anything, you just plug it in and it works!

I think we have the first Zero-configuration networking setup. we’ll be able to do a lot of forwarding over any an arbitrary network topology, this will be a great use for companies.

People don’t realize what a big deal this is!

We’ll probably set up an IP holding company and Patent the Zero-configuration networking so we can protect ourselves. There are parts of it that we want to keep closed-source; we don’t want any competitors in the blockchain space copying what we’re doing for at least two years!

By that time it will be too late for any of them to develop the infrastructure and software to catch up.

For more of Synths amazing content make sure you check out the full unedited video: https://www.youtube.com/watch?v=fYUdOQL9tkQ