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When ETH launched Vitalik and Lubin knew it was not fit for purpose


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  • Julian_Williams changed the title to When ETH launched Vitalik and Lubin knew it was not fit for purpose
5 hours ago, RobertHarpool said:

Everyone has always known they were building that plane while flying it. 

The implications of Lubin's word are clear.  They (ConsenSys and Vitalik (and the Eth foundation?)) set out with a premeditated intention to launch a product that they knew could not do the job.  The purpose being to raise money for the development of another product; Eth 2 (an unlaunched speculative product).  In other words Eth 1 was intended to be scam coin that they knew would be worthless in the long run, and was only worth investing in if they lied to their investors about its potential.

This to me makes SEC's position akin to either being an abetter or the innocent dubbed partner in a criminal  scheme to cheat investors. (organised crime?)  The very thing SEC is supposed to be protecting the public from.

Given the close financial ties of Clayton and Hinman to the Eth foundation, and that Hinman was introduced to SEC by Clayton, there are compelling evidence of both motivation to enter into a conspiracy between the three actors to support a dud product at the same time as hold back other superior products that were already built out. 

Hogan told us in his video "you cannot sue the SEC unless there was an intention to cause harm".  This new video shows "an intention to harm investors".  Also a motive "to do harm to Rippel/XRP" (who were technological leaders).

To launch a case against SEC Deaton needs to tie/line up Lubin's intention to Clayton and Hinman's

  • The connections between the Eth Foundation/Lubin to Claytons and Hinman's pre and post-SEC jobs
  • Clayton's commissioning of the memo that formed the basis of the Hinman speech (I believe Lubin was included whilst H Pierce was excluded from this process)
  • The Hinman speech
  • The preferential treatment given to  Lubin in developing the SEC policy of giving Eth and it's products a free pass
  • The launching of a suite against Ripple on the last day of Clayton's tenure
  • Did Hinman and Clayton trade the markets and benefit from their Eth-centric actions?

I would guess these sealed internal documents might contain more evidence of a conspiracy between Clayton, Hinamn and Lubin. 

Deaton is trying to get evidence of who was  trading Eth around the time on the Hinman speech and who shorted XRP.  Suing SEC would be a huge speculative task (impossible) for Deaton to do alone.  The presence of Empowered Oversight is certainly an exciting ally.

Edited by Julian_Williams
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26 minutes ago, VanHasen said:

I dont know much about the technicals as to how eth2.0 is getting etablished but this is also a very interesting point - how are existing eth miners going to give up on the massive amounts on cash they make with mining eth?

 

This is it, and I've seen it mentioned before, and I have parroted it on here. They are going to eff over the eth miners and it is all going to become hyper centralized with Eth2.0

Don't know how but you can see it coming. 

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There is no better time to start calling ethereum the banker's scam coin than NOW. 

When the miners start to speak up publicly against the motives of Vitalik and ConsenSys, ALL of Crypto Twitter is going to need to carry that torch with them. 

The fact we have the media sniffing around ethereum already is HUGE becuase they will sense the backlash that arises and be able to quickly follow up on the story by piecing it all together. 

Miners + Crypto Twitter + some % of mainstream media is going to make this hell for them as they try to complete this utter scam job. 

Edited by RipMcGillicuddy
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The biggest turd in all of this seems to be Lubin.  In the video Vitalik looks completely out of it, his body language is almost almost foetal.  Lubin comes across as his master.  We know Charles Hoskinson was so uncomfortable that he left and refused to take the stake in Eth he was owed.  Lubin seems to have corrupted everything he has touched.

I think Lubin works by playing dirty and manipulating those around him, and he does not understand that a business will only grow and prospers if it is providing a service.  I expect Eth 2 will fail to provide a service equal to Flr or Ada or Dot.

I think Deaton should consider to sue Lubin and by extension bring SEC into the case as a defendant.  This video stands out as the worst amongst all the video because it seems to demonstrate Lubin's intentions to defraud the public and coupled with what he said in other videos to use his connections inside SEC to maliciously stymie Eth's competitors. 

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