Ok, this has gone far beyond what it should have, and what we are dealing with now is the result of a miss managed PR campaign that instead of directly addressing the issue. Things have been beat around, and handle in a nature that I thought was reserved only to politicians. I will continue being honest, despite the accusations of others and explain this situation to the best of my ability.
Below I will make an attempt to answer all of your questions and explain the proper context of the logs of conversation between Smurf and I. ( I have no feeling of disdain for smurf as he seems to have simply become caught in the middle of this attack. I do not see his posting of those logs as an act of malice.)
1. Do I control the blocknet.
Answer: Absolutely NOT, I do have some shares in it that I purchased from the ITO however. I am merely a member coin in the project just like the other coins. I have no executive powers or duties, in fact no role or work has even been assigned to me yet. No funds are to be paid to me, and I do not want them.
2. Am I a pumper and dump schemer.
Answer: No I am not. I do however invest in coins that I feel have potential, at times this may be because it has a good dev or a good name. It's my business what I invest in, how much I invest and when I sell.
I will however, despite the fact that I really do not have to explain a bit of how I trade to you guys here with an example.
Example: Prometheus mines and accumulates of the market 300,000 shares in Coin X. Coin X developers begin delivering on their promises and the tech seems worth while as originally was assumed. Prometheus then assess the charts, looks at the order books and depending on market conditions sells his initial investment in small pieces. I call this "getting on free coins" or "securing an ROI." This is not dumping, it is simply a safe trading strategy that you all should probably consider using. Now that I am in a position of having free coins my investment is safe and unless the market drops to 0 or is delisted from the exchange I have a profit on my portfolio. Some times I will re enter the market when corrective phases take place, to again increase my overall portfolio worth. Other times I will not. I continue however watching market conditions and assessing the potential upward or downward momentum of the coin. If I see a downtrend is soon to come due to a lack of order book support, A fud attack, or a technical issue with the coin I then start slowly exiting bits of profit over time until I feel the coin has reached a floor. Once a floor is reached I may at this time reinvest, or I may then start exiting my investment in a slow and controlled manner. I do NOT dump I simply trade and I do so in a manner that I consider to be fair given the size of my holdings at times. Despite the allegations against me, I have never orchestrated a PND and I do not desire to inflict hurt on other traders in the market.
3. Has Dan Metcalf performed paid work for me or projects I am invested in. In short yes, but I will explain these projects below so that you can understand the context of "Dan works for me now."
Yes, as many of you know I am a strong support of Keycoin. I saw the value behind the name "KEY" I felt that it was elegant in both it's simplicity and in it's relevancy to the technology behind it in this market. I chose to invest time and finances in to bring this project to completion, and with what I suppose would be more than the average investor in the market. As time went on, KEY received an anonymous technology, a Video, and a nice community of supporters. I began to public speak on matters regarding the project and provided investors with information publicly, both in the ANN, and on exchanges.
Key hit a nice ATH, I however did not exit at this time, Only initial costs. During the week of KEY's all time high the developers chose to pursue a proof of developer status with coinsource. Soon after contacting coinsource a misunderstanding with developer details on KEY had arisen. Coinsource tweeted that they were investigating a matter in keys status. Key team would have preferred that they contact us and work out the misunderstanding before tweeting, we can't change the past however. The misunderstanding was corrected and the investigation closed. It is my belief that this investigation triggered a bit of a sell off in the market due to uncertainty, and a downtrend began. Please note that these things happen in real markets as well, and such news can have an impact on any market be it Crypto or Lulu lemon and their see through pants. News effects market price, this is simply part of Dow theory. The down trend had been started and it was clear that things were going to begin reducing in value. I began slowly exiting my position, and at one point reinvested with the hopes of catching bottom, only to see the market continue in it's decline. The fud attacks began to pour in and things were ugly. Please read or watch the video below for more information on dow theory.
http://en.wikipedia.org/wiki/Dow_theory << for more information on Dow theory please read this.
An informative video on Dow theory.
https://www.youtube.com/watch?v=VWRv9l6wrr8&list=PL33D0C18CDEBF64B7 Key Continue: At this time, desiring to try and recover the market I noticed that the KEY developers were having a great deal of trouble hardening the security of the OS. I contact Dan for the project and he completed it steadfastly with a high degree of quality. This was public knowledge on both the XC twitter, Dans personal twitter, the key twitter and more.
Halcyon: A coin to have a nootropics store. I like this idea and I invested. I funded a few aspects of the tech and when an issue arose, I contacted Dan to provide a quick solution, as well as provide a review that the source was trusted and the anon worked.. and to this day his review remains true. It has a working anonymous solution and a working POS source. The nootropics store design is complete and awaiting an API or a vendor to supply these products.
4. My group, who we are and what we do.
Answer: When I started trading and talking to people publicly on btc-e I began getting a great deal of recognition for my trading calls and analysis of the markets. Because of the demand for information, I started a group in which I would chat with members about my opinions on current markets and often point out observations I had made. As time went on the group grew, people began making cool apps, charts and more. We were helping people out and we had a mutually beneficial relationship due to the varying skills of the guys, and their opinions and observations. This group still exists and is focused on interesting opportunities in the market, TA, general trolling, and the regular posting of GIFS that make us all laugh.. We're not a PND group, if I were to say were anything we are a group of well rounded and skilled individuals in a trollbox of hand picked members.
5. Util, what it is designed to be and the vision I have for it.
When I was in bed late one night and thinking about what the competition in the alt market often brings (mass amounts of coins, attacks from other developer teams etc) I began to ponder the possibility of creating a project that had the capability of unifying developers in the alt market and instead of working to one up one another and gain in value over another. I proposed that we could create a coin that utilized blockchain 2.0 tech to host applications and services for business, and create an incentivized structure that would allow these business to increase the value of their currency by innovating on the currency system itself. I proposed that developers could join this system and become innovators if they so chose. This was called "Utilnet" and is documented in the white paper written on the util ann.
Soon after theorizing this possibility I sought after Dan's professional opinion on whether this was feasible. After discussing this with Dan Metcalf, the conclusion was met that not only was this indeed possible, and that there was potential that we could work on this together, including XC in the project and opening the door to other developers in the process. We were excited for the project. Content began getting produced for the ann and the public, including the statement that Dan would be working with the project to help with a few pieces of technology. In summary, Util was the product of brainstorming between Dan and I, it's a real project and it will come to fruition.
6. Dan approached me with the blocknet. At this point Dan began working on his side of the theory that we had discussed and the obvious need for funding came to light. Out of this was born the blocknet ITO. Despite my general dislike of ICO due to the catabolic nature they have had on the market (the evidence of this has been seen in declining alt volumes in the market over the past several months) there was no avoiding the obvious need to fund such an ambitious goal. I chose to support the project and joined the blocknet team where I currently reside as nothing more than a person who offers his opinion.
7. My feelings on the PR response from blocknet. When this controversy came to light, XC community immediately responded without first verifying the authenticity of the logs, while they have many conversational gaps in them, and are being presented in a negative light. I will attempt to explain the conversation and what was intended.
When I spoke to Smurf about the project it was to propose that they may be interested in joining. I had spoken to smurf in the past and I was impressed by the goals of the SDC project ZK snarks would be an incredible feat after all. At the time of the early conversation I was NOT aware of any ITO and I believed that the coin would have been utility coins and on the market for accumulation prior to the project coming to fruition. As someone who joined the team, he would naturally desire to hold some stake in what he was working for. We don't work for free, and profit is necessary for ones effort. While many may view this negatively, I'm sorry. People have families, children wives and life requirements that and payment for work is expected.
It pains me to see these types of attacks in crypto, as such things will hinder the overall progress of crypto currency by damaging those that legitimately intend to advance the technology and make it more useful to the general public, beyond the bounds of a transactional or payment system. In wall street these acts are often termed "poop and scoop" or "stock bashing." These fud schemes are prevalent in crypto and are often orchestrated by fearful competitors or separate interests.
I wish that my presence in the blocknet group never had this negative impact on the project, as my goals are deeply rooted in bringing it's success. If however my presence continues to be detrimental to the project, I will consider my resignment.
I wish that all who read this understand that this is simply a role in this market that must be filled by those that have obtained enough bitcoin and resources to make projects such as these possible., without us a lot of innovation would not make it to market and developers would not be motivated to produce such brilliant works of code without funding.
Sincerely,
Pr0metheus "The Lightbringer"
