"AriseBank is Dead"
From Stan Larimer:
"Arise is dead. With no chance to demonstrate whether they could or could not deliver. Now supporters will have to sit out from participating in the industry for years waiting to get their money back."
Earlier today Stan posted an article, and It made me sad. He started his article off with this quote
"Do not give what is holy to the dogs; nor cast your pearls before swine, lest they trample them under their feet, and turn and tear you in pieces." -Jesus Christ
But this is what really made me sad.
Stan included a header titled "A few parting thoughts" and later said
"I'm giving up on interacting with the crypto industry forums and returning to private life.. "
I know AriseBank being shutdown by the government has hurt investors, and many people are angry. I want to point out that it is not Stans fault, he truly believed that they could accomplish what they were aiming for. Investors should always do their own reasearch. No one should be blaming Stan for anything.
Why he may be stepping away
Later in the article is where he actually starts talking about Arise and where I believe his decision has stemmed from.
"On that brave little team of entrepreneurs at Arise. I'm quite appalled at the treatment of them by the community and others. I'm shocked at the current feeding frenzy that was, and is, being so carefully engineered during the single month that I was trying to get to know them."
I completely understand why he would want to step away. This past month has been pretty crazy and there has been many accusations thrown around and lots of backlash from the AriseBank situation. People are brutal in the cryptosphere and emotions run high.
Laying It Down
"On Endorsements. Some have claimed that I endorsed Arise. This is false. I never endorse anybody. But, I did try to defend them from unfair attacks - mostly by rebuking and shaming the attackers."
"The following actions do not constitute endorsements:
- Defending someone from unfair attacks.
- Saying I like someone's Vision and that it sounds good for BitShares.
- Opining that someone appears to have the resources, ability, and intent to deliver.
- Investigating possible ways to work together for the benefit of all. "
"On Partnerships. The word "partners" has many meanings. I use it all the time to talk about people building on top of the BitShares ecosystem."
Stan the Godfather of Bitshares believed in Arise. People may have been swayed towards Arise because he believed, but ultimately it's the investors decision to invest, not to invest, or believe in a project.
Arise is dead.
We can't go back.
All we can do is move forward.
Here is a link to Stans article.
I recommend reading it. He had a lot to say, and I left out a good amount of information in my article.
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Have a great day, and Steem on.