In the crypto world, any project can easily go under in a single day. I've seen some good projects fail.
A striking example was IronFinance. I saw the Titan token plummet from $60 to almost nothing in a single day. The culprit was a hacker who drained their treasury by issuing too many tokens.
And they can fail for many reasons; it's not always a scam.
If it has a single point of failure and that is not clearly communicated to all investors in a transparent way, to me that could potentially end up being a scam.
It is not technically a scam but it is weird this happens so much because most people in crypto assume things are decentralized first without asking questions. A lot of that does come down to the investors doing their own research to be fair.
But you are right, lots of projects fail just because of poor management and a lot of these projects were originally intended to do something great but that did not work out. Happens all the time in the real world and it will happen in crypto. I am not denying that.
I don't know the whole story behind Bro. And I haven't seen the complete script.
There's a lot of missing information. A project can fail for many reasons. It's not always a scam.
What is wrong, though, is going around saying the token is worthless, sell it. It's unforgivable from my point of view. But it leads to an immediate drop in the token's price due to sales on the exchange and in the liquidity pool.
It's also not good to resort to mystical delusions and argue with half the network. Although it is entertaining to watch the arguments.
@diegoloco I would say I have made my case to you and you are welcome to believe what you want. I’m going to move on to conversations with other people.
I will find the other blog posts that talk about what happened and post them here later when I have time.
I did some quick research.
Stickupcash is prob SUB I am guessing. Someone else would have to confirm this.
No wonder SUB has been curating RisingStar Content. He has a lot of Starbits!
I won't even downvote Risingstar content anymore now that I see this cause I just feel bad. I don't even care who SUB downvotes anymore. No wonder he won't leave HIVE. Dam.
SUB was always trying to get me to buy Starbits. He asked me to at least 5 times.
I swear the more you look into this stuff the more it makes sense.
I am making assumptions sure. But normally if you follow the money it will give you the answer.
Also, I think whoever runs Risingstar got screwed more than most people when Ray told people to sell. This person had stuff in the swap pools and that was most people's exit liquidity at the very end. LBI holders got screwed by this too. Ray did tell people to create BRO swap pools to support him with more liquidity shortly before he told people to sell.
The more I think about it, Starbits got screwed by this too. Bro becoming worth less (not worthless) means you need less Startbits per Bro in a swap pool. Starbits token price did get hurt when Ray told people to sell BRO.
Lot's of people got screwed not just me. People not talking is not a defense of Ray either. I think most people need to focus on their investors and have to fix what Ray did to their projects too.
@diegoloco I don't think a complete script will ever exist. Ray would have to tell us and we would have to believe him....
Here is the story from the perspective other HIVE users:
• https://peakd.com/hive/@themarkymark/psa-brofundbromancave-likely-compromised-3sa
• https://peakd.com/hive-177682/@neoxian/scam-warning-raymondspeaks-and-bro
• https://peakd.com/hive-111011/@bulliontools/the-fall-of-bro-lgn
• https://peakd.com/hive-178138/@bulliontools/bro-lgn-and-cine-the
• https://peakd.com/hive-178138/@dbooster/where-everyone-knows-your-name