In a true headline-grabbing and epically questionable (to put it kindly) move, Substratum has decided to turn over a large portion of its ethereum balance to be day traded for potential profits. They are doing this with the hope that any gains will extend the life of their project and push them through the bear market. Oof.
Here is the stream that details the move and why/how they plan to execute it. Judge for yourself the value of this strategy. As for us, it wreaks of desparation and misguided leadership: https://youtu.be/pH2bXT72uTo
Anybody want to grab a new bag of Substratum and fill it to the brim with hopium? Hard pass.
From Substratum’s white paper:
“Substratum is creating an open-source foundation for a decentralized web which will provide unrestricted access to content and sharing of information for users across the globe. Our mission is to bring forth the free and fair internet of the future by combining proven technological building blocks with emergent technologies in an innovative and holistic way to help solve many of the problems that plague the modern internet.”
“Substratum will gain mass adoption by revolutionizing the hosting industry with per- request billing via micro-transactions and incentivizing users to run nodes to create the network by paying node hosts in Substrate. This is all being managed by blockchain technology and machine learning.”
Does funneling corporate funds into a day traders hands sound like ‘decentralization’ to you? Uh, no. Bad, bad look for crypto.
And more from their white paper:
“The Substratum Network combines innovative technologies from the cryptocurrency, and community hosting realms to not only usher in a free, peer-to-peer internet, but to revolutionize the hosting industry. The Substratum Network is made up of nodes— networks of peer-to-peer computers—who then can deliver secure content anywhere using industry-leading cryptography, effectively ending the need for VPNs and Tor. It changes web hosting by incentivizing network users with its own cryptocurrency token to essentially rent out their unused computing resources as a hosting platform for websites. Hosting costs are billed through per-request micro-transactions, inhibiting the payment of unutilized resources.”
“One of the biggest frustrations of the decentralized web and its users is that it isn’t always easy for those who aren’t technically inclined. Part of the beauty of the Substratum Network is that you don’t need any additional software or a special browser to run it. The network integrates into existing internet frameworks, meaning the end user won’t have to change the ways in which they interact with the web.”
Wondering if you can short Substratum on Bitmex with a healthy amount of leverage? Asking for a friend.
https://abacusjournal.com/wp-content/uploads/DP_DDcMW0AAhkw_.jpg6751200Rogue Trader/wp-content/uploads/logo-header.pngRogue Trader2018-12-17 08:18:192018-12-20 14:48:49BAD IDEA: SUBSTRATUM DAY TRADING ICO FUNDS: Substratum Leadership Decides To Day Trade Their Ethereum ICO Funds To Weather Bear Market And Extend Corporate Run Rate