SAVING ASIACOIN – PART TWO
If I were the Dean of the Business School at Northern Illinois University in Illinois, USA, where I received my MBA, I would commission someone to write “Saving AsiaCoin” as a case study for the Business School. Who knows, may be Harvard Business School will one day. Well, if we have an “Association of Crypto Currency” it would not be unreasonable to make it a mandatory reading requirement for all of its members. This is not just another scandal that has caused much damage to a chaotic crypto currency industry still at its formative stage, but an event of historic significance on the power of a community united to achieve a common goal. It is a case of excellent leadership and team work well executed to inspire a large community of people with many different skill sets to achieve a common goal with the best case outcome. It is among the best damage control and crises management I have ever witnessed.
On the public relation front, I am somewhat concerned, but feel totally confident that there are many great reporters among the mainstream media, who have won many awards for their tenacity to deliver the truth with objectivity and depth. I trust that they will take notice of this opportunity and do just that. However, I am deeply troubled by the premature subjective bad press and unwarranted opinion of some senior members that it is better to let AsiaCoin die and replace it with a new one. What an idea, for $200 I could have convinced my neighbor’s kids along their friends to launch a new coin in 48 hours. Based on the amount of time and resources this large group of AsiaCoin revival team has invested, they could have launched 100 new coins. The odds are very high, that two of the 100 would be among the top 20 in market cap and they could walk away with millions.
People who know me well label me as “An old dog who can still hunt.” This reminds me of an old saying I am sure some of my Asian friends can appreciate as a respectful response to our “Senior Member.” “I have eaten more salt than you have eaten rice.” So please don’t sell short my junior status.
Yes, like most of you I have made my share of mistakes in life and have been scammed a number of times. All investments come with certain level of risk and there are no assurances that in the worst case you would not loose everything. Loosing everything in a legitimate business is painful. I lost everything (in the millions) one time in a bad business deal and have been trying for over twenty years to make a come back. Loosing everything in scam deal is even more painful. I did not own a single AsiaCoin before its melt down. The main reason that I decided to offer my support as an industry peer is because I could feel the pain of those investors who would have lost everything and their feeling of helplessness for not being able to do anything about.
I am not here to argue the case that there is not a one in a million chance that this is not a new scam with a different twist. If you can proof that this indeed is a new scam with a different twist, I owe you a big apology, whether you are a good hearted concerned industry peer or a member of the press. If you don’t or can not, for goodness sake, give the AsiaCoin revival team and their stakeholders a chance. I am hopeful that what this team has accomplished is a paradigm shift leading to a culture change for the better. For crypto currency to become main stream with broad base merchant adoption we must work hard to build mutual respect, trust and confidence. This is a worthy cause we all need to support.
For full disclosure I was not a stake holder of AsiaCoin before the meltdown. I do currently own 270,000 ACs and will support the market when appropriate. I am also a founder of DNotes and Cryptomoms. The opinions expressed in this article are strictly my own and not edited by anyone.