Has he played any games against Snow, Soulkey, Mini, Best? How's he looking?
FlaSh's apology video
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oxKnu
1132 Posts
Has he played any games against Snow, Soulkey, Mini, Best? How's he looking? | ||
Gorsameth
Netherlands21084 Posts
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RJBTVYOUTUBE
Netherlands424 Posts
On October 21 2024 03:35 prion_ wrote: He (and the other involved streamers, e.g., Sea, Bisu, etc.) had money invested in a coin with an additional zero-risk guarantee, where he would be paid back if the value of the coin fell below his investment amount. This was not disclosed to his stream viewers, even though he talked about and to a degree promoted the coin on stream. People quite reasonably saw this as an attempt by streamers to scam their viewers through a pump-and-dump crypto scheme: he would promote the coin to his viewers, they would drive the price up, and then he would sell the coin. This kind of stuff happens all the time with crypto because it has essentially no intrinsic value, so the only real way to profit from a crypto investment is to buy low and sell high, leaving someone else holding the bag. The coin basically fell apart before the scam could get off the ground, because all these details became public. Therefore, the streamers who had invested money were left holding the bag and in a sense got scammed. But they got scammed in the process of trying to scam their viewers. Actually that's not accurate. From the article talking about Suit(the mastermind behind the scandal) being sentenced to prison, it says there was never any intent from Suit to ever even Launch a coin at all. And that's according to the prosecution and the judge. Suit was scamming the streamers, not the viewers and the fans. https://m.mt.co.kr/renew/view.html?no=2024083012062814873 Flash definitely made mistakes, but there was never going to be a pump and dump. Suit intended to milk the streamers for their money promising them investments and profits from a coin that was never going to happen. Maybe I am wrong but that's what I've read, and I've been told the article is legit by a Korean friend. | ||
prion_
42 Posts
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spets1
46 Posts
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Li_Xin
51 Posts
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Fighter
Korea (South)1530 Posts
On October 21 2024 03:15 RJBTVYOUTUBE wrote: yeah he failed to communicate what happened because at the time suit still had all the money he "invested". He didn't want to lose that 200k and fell victim to the "sunk cost fallacy" where someone who has lost money but wants it back, keeps putting more money into something that's obviously failing/a scam, in the hopes to get their money back. He fucked up big but is still the main victim of Suit's scams. Flash is good with games, had some luck with crypto once or twice, but ultimately is too naïve for his own good. Ok, that was pretty much my read on the situation, but just wanted to make sure... Major bummer for Flash. It's not like being a Brood War pro is ever going to get more lucrative. Hope he's doing ok financially after all that. Is there any chance of him recouping the losses? I think someone mentioned a lawsuit? | ||
IntoTheWow
is awesome32261 Posts
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Emnjay808
United States10632 Posts
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Gorsameth
Netherlands21084 Posts
On October 21 2024 06:55 Emnjay808 wrote: Because he also convinced his fans to invest?According to the video Flash invested his own money. Why does he need to apologize to fans? | ||
RJBTVYOUTUBE
Netherlands424 Posts
On October 21 2024 06:57 Gorsameth wrote: Because he also convinced his fans to invest? They never invested. Whether Flash had malicious intent though is up for debate still. Flash talked about the coin to his viewers and did encourage them that the coin was going to be great. Flash however was the target of the scam, not the viewers. If Flash had malicious intent in his shilling of the coin, then yes, we should hold him accountable for that. But if he had no malicious intent and was purely used by Suit, then we should hold Suit accountable for all of it and cut Flash some slack. Flash was not prosecuted so court likely deemed him not a part of the scheme but instead a victim. Flash should clarify things in greater detail and clear the air once and for all. | ||
Emnjay808
United States10632 Posts
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cheesehuehue
Vatican City State59 Posts
On October 21 2024 08:03 RJBTVYOUTUBE wrote: They never invested. Whether Flash had malicious intent though is up for debate still. Flash talked about the coin to his viewers and did encourage them that the coin was going to be great. Flash however was the target of the scam, not the viewers. If Flash had malicious intent in his shilling of the coin, then yes, we should hold him accountable for that. But if he had no malicious intent and was purely used by Suit, then we should hold Suit accountable for all of it and cut Flash some slack. Flash was not prosecuted so court likely deemed him not a part of the scheme but instead a victim. Flash should clarify things in greater detail and clear the air once and for all. This is by far the most reasonable and least speculative take I've seen about this topic. | ||
RowdierBob
Australia12783 Posts
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Navane
Netherlands2720 Posts
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NoobSkills
United States1579 Posts
On October 21 2024 08:50 Navane wrote: If flash thought he had a secret guarantee on his investment, and his fans had not on theirs, and he encouraged his fans to invest, then that was bad and deserves an apology. The fact that suit ran a meta scam and never even intended to launch the coin is not relevant. The fact that the coin never materialized doesn't erase flashes intentions. Let's say as a public advertiser, he got paid 300k not guaranteed, just cash to advertise for this fake coin and his job was the promote it for that money. Still had no idea it was a scam, had no controlling interest etc etc etc. Does that still make him guilty of misleading? Don't individuals have a responsibility especially with an already risky investment entity to realize not only that it could potentially be a scam, but also it simply could have bottomed out if it were legit. How much is he responsible for people's risky lottery ticket "investments"? Is it any different than a celebrity touting some product they don't use who perhaps receives half their payment in stock or those weirdo skin gambler streams where they gamble and win/lose fake money from the website to be a part of the advertisement? Now sure there is the caveat that a lot of this is kids gambling but we're not narrowly focusing on that specific thing. My point is how much is it anyone's responsibility to baby sit fucking adults? The guarantee on the meme investment changes nothing in my opinion and everyone should know that meme coins, meme NFTs, meme stocks etc are risky and have massive potential for many points of failure. And considering from what I've seen it appears that Flash had ZERO idea that it was a scam coin nor did he have any ownership over the company providing the coin, so it seems as if people are looking for a scapegoat for their own poor investing. Beyond that, I'm fairly certain that if any one of them asked any reputable investment firm about coins and specifically new/unreleased ones they would have been alerted to the risks, not to mention a simple google search could have shown examples of specifically that scam coins or coins that went bust. Again their poor investments aren't the responsibility of anyone else. It isn't like Flash was holding a gun to their head demanding they invest in scamcoin.net. | ||
Vasoline73
United States7688 Posts
Being angry at the guy who just got scammed out of 700K USD is ridiculous. You lose 700k because you believe in the scammer obviously. If Flash believed in the project and shilled it to his viewers, that's not him trying to scam his viewers... it's just being an idiot and sharing his idiotic view with others. Ultimately individual investors are responsible for their own investments... Sorry to hear about the whole situation but looking forward to watching Flash play again. Also... I get that people are still going to be mad, I'm not calling anyone who is mad an idiot. Just saying 700k is a lot and typically scammers are smart about not being scammed (like Flash wasn't) | ||
quaristice
104 Posts
obviously legality isn't morality, but i think that maybe might give some context to people's reactions? | ||
NoobSkills
United States1579 Posts
On October 21 2024 11:23 quaristice wrote: i'm not an expert, but if it had been a stock or other security more tightly regulated than crypto, i believe in most countries what flash had done would be illegal, would it not? you're typically legally required to disclose details that he didn't disclose, at least that's my understanding, regardless of if he himself got scammed or not. obviously legality isn't morality, but i think that maybe might give some context to people's reactions? Based off everything we know right now, as it is, if this were a stock deal, I cannot think of anything that would get him in trouble. It isn't insider trading. Nobody is forced to claim or acknowledge if they have stock guarantees or backed stock options. Perhaps sometimes if you were in government or position of authority this might be an issue, but flash wasn't in those types of positions. He didn't own the coin creator's company, he wasn't management, he wasn't some government employee reviewing data or who was on the inside trade. He was more of a spokesperson or hired celebrity tasked with advertising the product. I don't know how much Michael Jordan gets paid by Hanes I'm sure you could figure it out, and I'm not sure if he had options in stock or backed stock from that company and while I'm sure maybe if an individual wanted to they could figure it out, I simply don't think there is an obligation for anyone to tell you anything. I am not a universal market investor or lawyer, don't cite me. I just don't see the directly applicable portion of known issues. Perhaps someone with more legal knowledge than myself might have an opposing idea, but I don't see how. | ||
BLinD-RawR
ALLEYCAT BLUES49400 Posts
On October 21 2024 08:50 RowdierBob wrote: How do the other pros feel about Flash? Like they all despise Savior but the Flash situation is obv very different. Is there sympathy for Flash among his peers or are they annoyed about the bad publicity be brought the game? pretty interested in this, but my feeling is that they're obviously fine since they still play against him pretty openly, its not the same as running into MJY on ladder. | ||
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