Popular Trader Calls Bitcoin Maximalist Tone Vays A Loser

Rhett Creighton is a regular personality on crypto Twitter, contributing to the community in a number of ways. For example, Creighton created Zclassic, a fork of Zcash not unlike Ethereum Classic in spirit.

More recently, Creighton has been preaching the gospel of wise acquisition and crypto trading. He regularly recommends that people start with “free” cryptocurrency and trade it into a fortune, as he has done.

Creighton took a moment to denigrate Bitcoin maximalist personality Tone Vays this morning, calling him an idiot and more.

He also wrote an article about how Vays has lost people money. The post tallies up all the money that “scams,” according to Vays, have earned investors.

According to Creighton, who has traded cryptos for years, Vays’ strategy is garbage and has definitively lost people money. Creighton believes this explains the “ratio” of Vays’ Twitter following versus the actual engagement of his posts.

Crypto Trading Club Leader Says Tone Vays Has Lost People Money

Creighton runs the “800 crypto club” trading community, an open and free community which advises people starting out trading crypto, and one of his core principals is that people starting out should actually take zero risk. This means they have to get their crypto for free.

One of the club’s regular activities is a pyramid style of giving – Creighton will give out $100, expecting the recipient to then give out $50 or $75 of it, using a network such as Bitcoin Cash often enough.

But don’t get mistaken. Creighton, like all great traders, seems to pledge allegiance only to profit. In terms of trading, it’s infinitely more trustworthy for someone to tell you that they don’t actually much care which underlying asset they’re trading, but rather about the profits they’re achieving.

Certain personalities, like Vays, believe that you must be loyal to Bitcoin alone in order to prosper. This strategy works often enough, but more complex trading strategies can lead to far greater yields.

Plus, as Creighton points out, it doesn’t take a genius to come up with the “buy and hold” strategy or “buy low, sell high.” These are simplistic approaches, and they work well with Bitcoin because it is still in a relatively simplistic speculation pattern.

Hodl This

Later, Bitcoin is likely to experience more intricate patterns, tied to a wider range of events, including things like inflation and fiat currency markets.

Creighton may feel frustrated that truly simple minded people are elevated and rewarded simply for preaching a buy and hold strategy that doesn’t always yield the greatest results. It’s like calling someone a weatherman for predicting that the rain will eventually end.

Vays has had other legendary duels, such as his debate with Roger Ver earlier this year.

Comments (No)

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.