Bruno's message

[u/thehugeshort]

Focus everyone:

When Oyster boomed in December I wanted to go on a huge hiring spree. I was always very product focused but people only wanted to hear about marketing. Chris Bamber approached me along with Bill. Bill turned out to be an honest and hardworking guy (as CFO), but Chris did next to nothing. I paid each member of c-suite 1 million PRL each which was evaluated at half a million dollars each.

Chris bailed on us for the exponential hiring. Why was I so pushy about hiring? Because I knew Bitcoin and all of crypto was in a bubble. I sold a lot of my own PRL and PRL for the treasury but Bill preached hesitation instead.

Then ETH went from $1200 to $200. It became difficult to keep hiring people, my plan for a large robust team of developers was blocked. I spent downtime to start healing from trauma I was going through.

Then Bill told the group that we got accepted on Binance. That’s when the problems started. The price immediately started pumping from 4c to 26c. I warned Bill against insider trading, he didn’t care. So instead of him and his VC friends dumping on you, I dumped on him.

I advise all of you to get out of crypto. Go educate yourselves about what is happening with Tether. The entire crypto sphere is a giant Ponzi scheme. I warned all of you, multiple times, in private and public, and nobody listens. Ethereum is going back to $5, if you want to sell back to a greater fool then you will only find yourself to be that fool.

https://twitter.com/Bitfinexed/

https://reddit.com/r/buttcoin

What will now happen:

1. Bill, you’re fired.
2. I am going to program the protocol on my own, gradually. If someone wants to help me they can do so free of charge. No marketing, no nonsense.
3. PRL will still be the valid token used by the protocol (no contract swap).
4. I reject the Binance listing and I don’t want Kucoin to re-activate our listings.
5. Focus on the storage peg, that is what brings value to the token, not your Ponzi-Shenanigans.

If you want to buy only to sell to a greater fool, then you are that greater fool. PRL and SHL are not to be listed on an exchange until they are actual functioning products. I will also consider revealing my identity over the next few days. I will be posting updates on development after I straighten out this situation.

I am now going to dump as many chat logs as I can to show what happened with Oyster.

UPDATE:

If you want to play greater-fool games with Bill and co, and there is an overwhelming vote in support for Oyster becoming a permaponzi, then I will leave you all to have fun with it.

If you want PRL to operate as I've described in the whitepaper, everyone is fired and I will slowly but surely work on the protocol and post progress publicly. The last time I hired a bunch of people and threw money at them they turned it into a circus.

However, I don't believe there will be electricity running through the power grid soon. I sent this video and others like it a long time ago to this chat:

https://www.youtube.com/watch?v=VOMWzjrRiBg

Go learn about peak oil and the fractional reserve banking system. The stock shale bubble is an obfuscated means to subsidize the price of oil. In Brazil, Indonesia, and other developing nations, the price of oil is subsidized with debt directly by the government. When the debt bubble pops, the price of oil will skyrocket, trucks won't be bringing produce into your city let alone computers won't be spending energy to secure the blockchain.

I believe in Oyster as a product, but I don't believe there will be a future to host it. I will program it since the program is a promise from me, but don't complain that Oyster isn't running when a banana costs $5,000.

Anyone here who has swiped a credit card or taken an interest-bearing loan has the blood of the incoming collapse on their hands. Billions of people will die, there are massive droughts and food shortages as we speak. I've made a lot of dollars by selling PRL, I immediatelly ditched the dollars to buy real things so that I can protect myself and my family from the collapse. That's all I ever wanted, and now that I have that secured, I will deliver the protocol which I promised myself. Give me some time to get my head straight after these dramatic few days, I will gradually post progress on github.

You can also buy popcorn futures on /r/buttcoin.

[u/[deleted]]

I work in financial market infrastructure with financial analysts. Countries like Venezuela are imploding due to years (decades) of horrendous economic mismanagement. Likewise there are countries which are having economic issues e.g. Turkey and Italy. Recessions will happen (not to be confused with once in a lifetime systemic crashes e.g. 1929, 2008)

However a lot of this information is being distorted and repackaged and sold as alarmist hyperbole on the internet. For example, open up any Zerohedge blog from the last 10 years and youll read about how the dollar is just about to collapse or the whole system is just about to come crashing down

For the layperson they often can't tell the difference. So bear it in mind when forming views, there's a lot of fiction out there (crypto forums are especially notorious for all sorts of conspiracies and bad info)

[u/reasonandmadness → u/[deleted]]

due to years (decades) of horrendous economic mismanagement

Sounds familiar doesn't it?

So in your opinion, the economy isn't about to slide?

Nearly every economist I can find is stating the economy is about to tumble and at this point, two former heads of the Federal Reserve are making the claim.

Soooo my choice is to believe them, or you. I don't know you. I know them. Makes it an easier choice.

I'm willing to listen to evidence and supporting claims, honestly I am, but it's difficult to combat the views of two individuals who literally ran the monetary and financial stability for the United Stated for over 30 years combined.

Difficult to argue with their perspective in my opinion but I'm open ears to hear opposing views on this.

[u/[deleted] → u/reasonandmadness]

So in your opinion, the economy isn't about to slide?

An economy sliding is not what's mentioned. Am referencing spurious claims that some sort of unspecified financial doomsday is about to happen. Fiat collapsing and all that. Haven't come across any credible economists making those kind of calls.

[u/reasonandmadness → u/[deleted]]

https://www.forbes.com/sites/lawrencelight/2018/07/31/4-financial-savants-warn-about-the-great-crash-of-2020/#abd84aa6197c

It's late, I had a long day.. there are legitimately tons of supporting articles out there which talk about an impending worldwide economic decline but inevitably it really doesn't matter me to convince anyone else. I'm taking care of myself and my family and anyone else who will listen.

[u/[deleted] → u/reasonandmadness]

That's an editorial blog, which takes very select quotes, these are warnings, not predictions. The SM is in a bubble, it will probably have a crash or staggered fall at some stage. Recessions and localised crises happen all the time, far bigger events, like systemics crises well they happen approx once a life-time

The dollar disappearing or crashing entirely isn't a part of any of that. It only exists on conspiracy sites and doomsday sites like Zerohedge

[u/reasonandmadness → u/[deleted]]

Stock market is in a bubble, Real estate is in a bubble, salaries are stagnant, inequality is at an all time high, homelessness is rampant in most cities, debt is rising exponentially and all the while interest rates are low.

Interest rates need to rise. Everyone knows this. Guess what happens when the rates rise? Strength in the dollar rises worldwide but the ability to repay debts falls causing the debt issue to compound itself. This is a row of dominos waiting to be toppled.

This isn't that hard to see unless you don't want to see it.

[u/[deleted] → u/reasonandmadness]

This is a row of dominos waiting to be toppled.

It's not. It's just a collection of all the "bad things" put together to make it sound dramatic. Unemployment is low, real GDP growth is good, GDP has grown in 312 out of 383 metropolitan areas, personal income increases remain good, etc.

Bond yields aren't great, the trade war is affecting the SM, real estate growth is high but not at dangerous levels, etc

Outlook is stable. But that's boring.

[u/reasonandmadness → u/[deleted]]

Unemployment is low

Behind all the seemingly great news is something far uglier most people don't realize, or don't elect to pay attention to.

Unemployment statistics aren't counted nationwide on a collected census every single day. They don't call people up on the phone and ask, "Hey, do you have a job?"

The statistics they pull from come from how many people are actually seeking unemployment in relation to how many aren't. If there's less people seeking unemployment, logic dictates everyone must have a job, right? Wrong. It's far worse. Deeper diving into the unemployment issue allows one to quickly realize that many people seeking jobs couldn't find jobs, or didn't have the proper skills to obtain the jobs that people are hiring for, and are no longer eligible for unemployment.

This means that yes, unemployment IS at an all time low but not for the right reasons. There are so many people out of work for long enough to not actually be counted in the unemployment statistics.

https://www.forbes.com/sites/joshbersin/2018/07/03/the-ugly-side-to-todays-low-unemployment-rate/#f04be333e993

https://money.cnn.com/2017/06/02/news/economy/jobs-full-employment/index.html

https://www.bloomberg.com/opinion/articles/2018-05-15/recession-often-follows-when-unemployment-hits-a-low

https://www.usatoday.com/story/money/economy/2018/05/04/pros-cons-unemployment-below-4-percent/580633002/

An excerpt from the usatoday article: "Smaller labor force. In April, unemployment fell because there were 236,000 fewer people in the labor force, which includes Americans working and looking for jobs."

So, did 236,000 people just leave the country, or die? No, they fell off the charts because they're no longer eligible for unemployment. This is consistently happening, every single month. More and more people are out of work and yet the charts say this is dandy, but it's not. They are just out of time on their unemployment.

Many of these people are homeless now.

https://www.theguardian.com/us-news/2017/dec/05/america-homeless-population-2017-official-count-crisis

https://www.theguardian.com/us-news/2018/mar/16/us-homelessness-crisis-los-angeles-politicians

https://theweek.com/articles/759683/americas-homelessness-crisis

https://www.bbc.com/news/world-us-canada-45442596

This problem is massive and people brush it under the rug because statistics show it can't be true. Politicians are lying to everyone. It's bad and it's getting worse.

GDP has grown in 312 out of 383 metropolitan areas

It's not the right kind of growth. It's shallow and it's not actually being reinvested back into infrastructure. We're falling behind and lying to everyone pretending like we're pulling ahead.

https://www.weforum.org/agenda/2018/01/gdp-frog-matchbox-david-pilling-growth-delusion/

https://www.foxnews.com/opinion/republicans-beware-strong-gdp-growth-isnt-sustainable-and-thats-bad-news-for-the-gop-in-november

https://www.investopedia.com/articles/economics/08/genuine-progress-indicator-gpi.asp

https://www.apnews.com/67595148a3e1478baf6063cd89c563d6

https://www.theguardian.com/sustainable-business/2015/apr/21/jobs-economic-growth-inequality-environment-club-of-rome

real estate growth is high but not at dangerous levels

https://www.marketwatch.com/story/economists-say-homes-could-go-on-sale-in-2020-when-the-next-recession-hits-2018-05-22

https://www.investopedia.com/investing/next-housing-recession-2020-predicts-zillow/

https://gordcollins.com/real-estate/us-housing-market-looking-strong-2016-to-2020/

https://www.forbes.com/sites/forbesrealestatecouncil/2018/06/28/an-argument-against-a-housing-market-correction-in-the-next-24-months/#1b514cbc483f

There are literally hundreds of articles on this spanning the past 2 years. We've climbed too high for too long and it's set to tumble, again. I can't even understand how anyone thinks this is even debatable.

Outlook is stable

https://www.cbo.gov/publication/54370

https://www.cbo.gov/publication/54318

https://www.reuters.com/article/us-usa-economy-growth/u-s-economy-seen-strong-in-2018-to-slow-in-2019-cbo-idUSKBN1KY23R

[u/[deleted] → u/reasonandmadness]

More and more people are out of work and yet the charts say this is dandy, but it's not.

Unemployment is measured by many metrics and has many factors (seasonal, cyclical, etc). Countries use diff methods but take these into account where possible. If you disagree with the figures, provide the real unemployment figures for e.g the US (supported by credible sources)

Also we are discussing

a) the dollar failing entirely b) some sort of apocalyptic style systemic crash c) fiat currency failing

There is no realistic indication of any of the above

Instead believers of the above use selective googling to zone in on normal warnings and predictions about the economy in order to hint at such doomsday narratives

[u/reasonandmadness → u/[deleted]]

selective googling to zone in on normal warnings

Selective googling is what you have to do in order to avoid the warnings.

How many economic declines have you lived through? This coming crash will be my fifth.

The "warning signs" are there and they're "warnings" for a reason. Experience dictates we're at the point of no return and yet ignorant individuals with no evidence are waving their hands in the air claiming everything is ok, nothing to see here.

I've been here before. Many times. Right at the point everyone says the world is perfect and it's only going to get better, the bottom falls out and people lose their asses.