I have decided to close down Block Depot

Share:

The reason:

I cannot in good faith be a party in recommending systems that I no longer believe in. After being a team member on three separate privacy blockchain project teams and finding that they were ALL corrupted by default. Be it the code, the members, or their actions; in One of those three, these teams ALL failed my personal ethical tests.

I will not support nor lead people into a system that is even worse than the One that it hopes to replace. The current monetary system is a Federal Reserve based system. Any amount of research will show you the vast amounts of corruption tied to the FED. Nothing is federal about the federal reserve other than the name. It is simply a small group of unnamed people controlling the World’s monetary system through sleight of hand, trickery and treachery.

Fast forward to Crypto. It seemed to be the answer and even I fell for it. However, if you can understand this technology like I can you would see the major critical flaws that are currently in place.

For instance; transparency projects like BTC, ETH, ADA and more all have a transparent code which will track and trace your every move forever. Meaning that your every transaction will be locked stored in an easily viewable, easily recalled data packet with little costs to see what, when, why, who, and every single detail of your transactional history including wallet addresses, friends wallet addresses, balances, etc. Clearly this is not good under certain circumstances.

So then we have Privacy blockchains as an answer. However, these privacy blockchains are NOT official businesses. In fact, I am not sure if a single privacy blockchain project is a properly registered business. Meaning that these are illegal systems and hardly a safe place to store your value of wealth i.e. fungible “money”.

What makes this worse is that the teams on these privacy blockchains nearly always operate and hide behind pseudo names to offer themselves anonymity from shareholders and from the LAW. This offers these potential “bad actors” opportunities to break laws above what is comprehensible. The vast majority of these blockchains have little to no accountability and are conducting actions which are NOT inline with their shareholders best interests. They sale coins off market to each other for reduced prices, they give away coins for favors, they are basically the same if not worse than the systems they set out to replace. With no oversight and zero accounting how could you prove they are conducting themselves honorably or dishonorably.

After personally leaving; meaning walking away from x3 privacy projects because of not meeting my ethical standards, I can tell you that Privacy blockchains in the current format are NOT the answer for replacing our corrupt banking systems. Block Depot was being attacked by these bad actors on several privacy projects and I have decided to shut it down because I will NOT be a party to creating more victims in the latest of SCAMS crypto and blockchain.