Crypto social media personality Trevon James, who was intimately involved in the promotion of the HYIP scheme BitConnect, which eventually led to law enforcement and legal action, says, in his infinite wisdom, that the Bitcoin price will be at $0 in ten years.
James’ YouTube channel often features him driving around his neighborhood in Florida, talking about investing in cryptocurrencies and platforms he prefers to use, most of which have some form of affiliate program from which he benefits. He occasionally does giveaways and things of that nature.
CCN has not spoken to James, but the author had previously watched a number of his videos for their entertainment value. As far as YouTube personalities go, James is certainly not the worst, and his 120,000 subscribers on that platform demonstrate it. Here he is in January, not long before the curtain really started to close on the BitConnect scheme, talking about it.
At that point he was still defending BCC and its operators, saying that “if they wanted to scam” they could have just left with everything already. It’s important to note that this is exactly what BitConnect did do at a later time.
You’re probably new to crypto or not too deeply involved if you have never been scammed. It’s almost a rite of passage in the space, a trend that gladly lessens with time, increased number of market participants, and government attention to the issue — depending on how broad the definition of a scam, that is. Many ICOs meet some of the qualifications of a scam, having never delivered a product or returning funds. Then again, so do plenty of Kickstarter projects.
Further tweets on the same thread reveal that the majority of his respondents feel that he will be in jail soon for his involvement in pumping BitConnect.
No word on that from SEC or otherwise.
In a follow-up tweet, he says the “full video is” the one linked below, but in that video he nowhere mentions his reasoning for the prediction, indicating that he said it specifically to garner attention. He also mentions the recalcitrant Bart Simpson patterns in this video.
Will the Bitcoin price be at $0 in 10 years? If the last ten years are any indicator, no.
Update 12/4: James is doubling down on his bearish forecast, making a McAfee-style bet.
Featured Image from Trevon James/YouTube
Last modified (UTC): December 4, 2018 16:34