Wesley Kress, MBA, MSOM © ⚡️
Wesley Kress, MBA, MSOM © ⚡️ 26 minutes reading from Elrond

Founder of World’s Largest Exchange Elrond Network Calls for Bitcoin Community To “ampestimate”

1/ I want to start off by saying the leadership & communication of @beniaminmincu & TEAM is truly extraordinary. It doesn’t surprise any of us who have been super close to the @ElrondNetwork eGLD project. They care deeply about everyone. It shows in their actions & words Crypto

2/ I am sure it surprises many Y I spend so much time, energy & effort educating & sharing w/ community for FREE. I deeply care too. The 🌎 is not set up in a way to help ThePeople Yes, I could charge a lot of money & hide behind a paywall but I choose consciously not too

3/ Money is not good nor bad it’s a powerful force for creation or destruction. It helps us direct what we want to see more in🌎 I allow donations to let others direct if they see fit but not charge to avoid conflict of interest & promote inclusiveness for those who can’t afford

4/We Ride together (Ups & Downs) I told Wall Street NO because I wanted to use my talents, skills & expertise towards something I aligned deeply with, this is valuable to me. Money doesn’t=Value although most forget this. I have been through great pain & suffering, much empathy❤️‍🔥

5/ When I spend hours discussing RiskManagement & the importance it Is because it matters a lot. Our brains 🧠 are not wired to be successful in wealth creation. Take it from a 17+ YR veteran who has had many failures & watched many fall victim to it, even veterans, sadly.

6/If U think U R special, U are not. We all interact w/ same forces that push us towards making short term decisions for long term consequences. Self Awareness & Humility + StudyHard + EmotionalIntelligence R key Overconfidence happens often when many make money very quickly.

7/ Crypto moves very fast & grows exponentially fast due to it being the fastest growing industry in the history of the world. This means one can make money faster than they can imagine & lose it just as fast due to risk, especially with backdrops of fiscal & monetary insanity.

8/I discuss in many of my videos about unknown elements that no one can account for despite endless testing, planning & preparation. “What we don’t know, we don’t know” should be highly respected, this is why we Risk Manage. While this is never financial advice I personally never

9/Allocate over 1-5% to new projects typically 1-3%. On top of that initial DEX offerings IDO not exclusive to the @MaiarExchange are highly volatile due to how Automated Market Makers work & how pricing works (supply & demand) Super concentrated demand *think Black FRI shopping

10/Forces of Greed & Poverty mindset can affect us all, especially in times of great opportunity. I have to constantly remind many we R invested in progressive disruptive technology, it’s not a finished product, ever. The earlier one is the higher the upside but also higher risk.

11/This is why having a World Class Team & Community to navigate the adversity is key towards long term success. Part of that requires respectful, thoughtful, intelligent & empathetic communication. Just as storms occur in nature they occur in disruptive technology.

12/ Adversity & challenges is what allows growth, unity & greatness to emerge. Nothing extraordinary was ever built with comfort, ever. It’s easy to forget this. Understand that not everyone has the same vision, timeline or intention, we must be cognizant & aware of these factors

13/ I want to clarify a few points before I elaborate on some of the events that took place during the launch of the RIDE token on the @MaiarExchange It’s important to understand Staking Provider’s (Validators) are their own entity that run the Elrond Network Protocol

14/ The progression of Decentralization means that

(SP’s/Validators) operate on their own accord, despite us all working together as a community towards a similar vision & mission. Blockchain is a trust-less protocol that is deterministic in nature. It's transparent & known but

15/ Unknown variables that R both financial & technical can vary depending on extraneous factors of which R multi-faceted & dynamic in nature. This is Y education is so valuable, a lot of responsibility falls on us the end user despite the TEAM’s great care in design & execution

16/ These types of organizational structures R new & not intuitive. Elrond has taken a very strategic, slow & methodical approach towards decentralization. To me this is wise & follows their first principles emphasis as one needs to work through things before they R turned loose.

17/There is a reason we R not at Mass Adoption in Blockchain & this strategic approach is necessary especially at this stage in market. While their network topology which includes many validators 3,200 is very decentralized & underlying network protocol is open source code we are

18/ Still in very early stages of full decentralized control, with that said the TEAM doesn’t control everything & this includes Staking Providers & Validators. These people don’t work for Elrond, this is decentralization. While many share in the ETHOS & communicates with TEAM

19/They act on their own accord. This includes community who interact w/non-custodial wallets. @getMaiar or Wallets R NOT controlled by TEAM, only U have access to your funds.Even when U Stake w/ a Staking Provider/Validator they do NOT have access to your funds in Smart Contract

20/ This also represents decentralization & freedom. This comes with added peace of mind but also responsibility. Think of the Network Coding, Design & Decisions as shared transparent & known agreements in a relationship that allow Trustless interaction among all participants

21/ Many Staking Providers & Validators act on behalf of a myriad of investors & stakeholders despite being the face of them. This context is important to realize as they are not the only one directing the decision making as it’s not just their money.

22/ One must realize that Blockchain Technology will be the backbone too much automation & bots tied to both humans & artificial intelligence in the future. This is obviously both positive & challenging at the same time.

23/ The positive is that more volume, transactions, activity & value for all of us with the growth & usage but it also means that there will BOTS. One can’t have it both ways so one must realize this & risk manage appropriately.

24/ Observer nodes are part of the technological landscape & architecture of the Elrond Network. They are not “bad” or unfair as many have false communicated via emotionally reactive means. We are invested in technology, we must respect these elements.

25/Thankfully eGLD cares deeply & they have gone out of their way to actually help to further promote inclusiveness & diminish bots ability to garner an advantage via design choices on DAPP & plan on integrating to newer projects project launches.Powerful

Beniamin Mincu 🔥🌓 on TwitterBeniamin Mincu 🔥🌓 on Twitter

26/ This is Y I constantly communicate the @ElrondNetwork for ThePeople They consciously, meticulously & carefully make decisions in the best interest of the community. Understand that there are limitations to this.

27/ My philosophy & support is about equitable opportunity NOT equal outcome. The prior is possible in a highly scalable, transparent & decentralized financial system. The latter is fiction & delusion. This is what open markets allow for as discussed here:

Robert Sasu on TwitterRobert Sasu on Twitter

28/ As is case with all aspects of life we must know the variables we are interacting with. Many often hear me say, this isn’t a game. It isn’t & this is Y many feel my intensity at times. We must prepare & take things seriously especially when it’s money (our time) on the line.

29/ Improvements by TEAM R necessary to better code (consciously) to ensure that all participants have a shot. Many who didn’t watch my first video on the @ElrondNetwork I mentioned it’s obvious today we can’t trust Businesses, Banks, Govts that say one thing & do another… & Y

30/ Properly designed transparent decentralized deterministic systems are essential for humanity TimeStamped

As stated earlier DAPPS like @MaiarExchange are progressive technologies that need improvements such as discussed by @beniaminmincu & TEAM today


31/ Due to nature of humans greed instincts which (we all have) & can only be transcended through self actualization, self awareness & consciousness of a shared existence, not common today. Beauty of Blockchain Technology is it allows for Transparency & Accountability of actions

32/ Last night to express transparency & accountability present on the blockchain for the individuals that put their greed before & at expense of community

The reason I stated this is if U are intelligent enough to code, U are also intelligent to know the

Wesley Kress, MBA, MSOM © ⚡️🟥 on TwitterWesley Kress, MBA, MSOM © ⚡️🟥 on Twitter

33/ Impacts of such coding, as you know the Supply & U know the fact that if U dump you clearly are just unloading (within seconds) & not actually interested in the long term success. Is this constructive or destructive? This is up to the individual to process.

34/ I can honestly communicate I am the man I am today not because of where I am but because of mistakes I too have made. Growth as a human. I am deeply impressed by some individuals who recognized their actions & have done their part (what is in their control) to make it right.

35/ I actually admire people who have courage & humility to see how their actions have impacted others with clarity & how it would be wise to not exploit

situation for benefit despite power, expertise & knowledge. Many will lash out & shame or become angry as if they R righteous

36/In my opinion is NOT how we move forward as a community.If U haven’t looked around much of the reason we can’t move forward is because of the constant polarity of hate, anger & spite we direct towards eachother.We R all conscious beings living a life of interconnected outcomes

37/ While I believe the greed is sickening, I know it’s in me & in you, in all of us. The individuals involved who have had the courage, humility & strength to see their actions & remedy them by coming forward should be embraced & understood IMO.

38/In crypto we can be down 25% or more in a day (anyone here long enough knows this due to nascent nature of the industry) so those who were in great pain did not risk manage due to greed & not listening to me. I know people wouldn’t be saying things they said if

were down 1-5%

39/Ability to have compassion & empathy through pain is not common & I don’t expect many in the community to do so. I personally believe in transcendence, forgiveness & healing. We have to see the elements that can be exploited & consciously code away from them as has been taken.

40/I know that people have done actions they have R already in pain, despite what many may believe money made in this way is not the same,one always lives w/

internal conflict of how acquired. We need more healers in this 🌎 & we also need people to bring it to light so we can👀

41/Yesterday & today, demonstrated to me Y I am here. Transparency & Accountability work. Community works if we can work through these elements. Understand that greed was all around, some was experienced greed & others was inexperienced naive greed who didn’t understand terrain

42/Many will have own opinions, anger or choice of reaction, but for me, in same way I choose not to hide behind a paywall but give back consciously, I also consciously choose to embrace those who came forward to make things right & will share compassion & empathy towards them.

43/ In the same way I share in the empathy of those who were greedy but naive about the terrain of possibilities (Why I study so hard) such as these & why I preach RiskManagement of 1-5% Greed exists in all & it isn’t exclusive to the wealthy or rich.

44/ I don’t expect the community to share in conscious choice of healing, forgiveness or problem solving of which the Elrond Network has been hard at work to remedy due to cost that happened to greater community to help improve the deterministic systems to prevent in the future.

45/ I am here to Buidl via solution centric remediation, not mirror the society at large who is problem centric & chooses to destroy each other via politics. I want to choose something different. The transparency has created accountability to those who see their actions.

46/TEAM is working on creative solutions both to help remedy losses & find ways to ensure deterministic systems allow for equitable opportunity going forward. They say in times of trial tribulation & adversity is where true communities are built. This is one of those for us eGLD

This post is based on this twitter thread.


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