Tone Vays – Crypto Trader and YouTube Influencer on Crypto Clothesline
Tone Vays is a well-versed crypto trader and influencer with nearly 80,000 YouTube subscribers. A former Wall Street trader and vice president of JP Morgan Chase, he’s got some valid and varied experience behind him.
Tone tells us about having morphed through many career changes. He started out studying geology, then went on to being a teacher. After that he got a Masters in Financial Engineering and then ended up working on Wall Street building risk models. Tone went on to becoming a trader and then transitioned to being a public speaker. Now he works as a content creator with a highly successful YouTube podcast.
We are absolutely honoured to have Tone on the show to chat with us about the skills everyone needs in crypto trading to minimise risk, and to grasp the fundamentals in order to ‘stay safe’ in the space.
Minimising Risk in Crypto Trading
Rule number one: you’ve got to have proper risk management. No single trade should ever take you out of the profession.
Rule number two: don’t panic! If you have the right plan, even if your trade goes against you, you should be prepared for it.
“A really good lesson for traders is if you have the right plan, you should never ever have to panic…
I pride myself on entering very probabilistic trades that are immediately profitable based on statistics and ironically, both of the trades that I was public about that did not happen.
Bitcoin is a speculative asset like everything else…”
We try not to stop at the basics of crypto trading, as the pressing question on the lips of many women in crypto lingers (cryptolingus):
What happened on the Coinsbank Blockchain Cruise Mediterranean 2018?
It was heavily advertised that there were a lot of women hired to come on the cruise who were basically paid to walk around in very small bikinis.
We asked Tone what his thoughts were on women being presented in this crypto ecosystem in that way? And what sorts of messages did he think were being sent to girls and young women thinking to enter the space?
“…the crypto industry, like the math and science and other stem fields, is pretty much dominated by men and the crypto space and blockchain space is no different.
…The organisers felt that there would be a huge disparity between the number of men and the number of women. So… the women that were hired to kind of help on the cruise and… provide some kind of balance between the male female ratio.
As far as I understand the women weren’t hired to do anything illicit or bad and they were specifically told just to be there for conversation…”
Strange thing is, when you watch the video released specifically to showcase the amount of boob and bottom flesh actually manifest on the cruise, most of the women ‘interviewed’ giggled and repeated : “We no speak English.”
Were these women hired to be in conversation or to be conversation pieces, I’m wondering?
Imagine if women ran an event and they had a whole cohort of men wearing very tight leopard skin testicle-holders throughout the event who didn’t speak English, and didn’t even have an opinion on crypto? Can we just reverse it and see what message that would send out to the male world? It would drive men insane. They would find it so disrespectful, and yet as women it seems to be an expectation that we’ll just roll over (if you’ll excuse the pun) and take it.
This issue was particularly annoying and discussed at length in many online women’s crypto and blockchain groups and chats, but another conflict on the cruise was splashed with even more gusto all over social media…
The Three Cryptoteers
Disputes were raised, (and aired very publicly), between Tone Vays, Roger Ver, and Jimmy Song: each well-known influencers in the crypto space, in a debate about Bitcoin versus Bitcoin Cash.
The row on the boat (pardon the pun) was one of most publicised events of 2018 and resulted in an open broadcast and public scrutiny of both BCH and BTC from the respective debaters.
In the audience was well known reporter, Laurie Penny, who after listening to the lengthy dispute asked the question:
“Why should I believe in cryptocurrency after seeing what I have just seen?”
In our interview, according to Tone – Bitcoin has split into two factions and each seems to think they ‘had bitcoin’.
He says he likes to refer to BCH (Bitcoin Cash) as B-Cash, which apparently stoic BCH-ers find a derogatory term.
“Even though the Bitcoin Cash supporters finds B-Cash derogatory… they’re trying to steal the branding of bitcoin… Bitcoin is the one that’s valued at 95 percent more money.
It’s like saying, ‘Hey, I have a version of gold. It is better than gold, but it’s worth 95 percent less.’
…(it was) basically pretending to be bitcoin.”
Joshua Marriage, an Australian podcaster and advocate of CloakCoin (privacy coin) was also very vocal in his questioning after this heated exchange (debate) on the cruise, according to video footage that was shared (see show notes), asking these guys why they don’t think about contributing the funds from their public bet to worthy social causes like homelessness rather than lining their already heavily-laden crypto coffers.
Tone Vays was the only speaker left on the stage who even attempted to answer Marriage’s question about redistribution of bitcoins to those in need rather than betting over $100 M between themselves.
Pump and Dump Scheme
What we love about Tone is his frankness and integrity, so it came as no surprise that when we asked him about invites to pump and dump schemes, he answered:
“Ninety five percent of the people I meet are just scammers who want to print their own money. It’s so much worse by percentage in this space… Most of the people are trying to run some kind of a pump and dump so they can just make a scammy coin. I get asked all the time, if I’d be an advisor and promote these scammy projects. And the only thing that comes to my mind is, wow, the person asking me has absolutely no idea who I am, because if that person knew who I was, I’m the last person they would email or contact… I was getting so many of those emails and texts that I just walked away from it.”
The interview covered so many facets of the life of Tone and we are incredibly appreciative to him for sharing his time and knowledge with us.
You can find Tone on YouTube, make sure you subscribe because this channel is digital gold (perhaps like Bitcoin).
Tone Vays & Roger Ver debate Bitcoin vs. Bitcoin Cash Coinsbank Blockchain Cruise Mediterranean 2018 (Laurie Penny asks her question at 25.45 mins)
Blog: Blockchain Cruise 2018 CloakCoin Spokesperson Questions Roger Ver & Tone Vays Aboard The Censorship
YouTube: Blockchain Cruise 2018 CloakCoin Spokesperson Questions Roger Ver & Tone Vays Aboard The Censorship (PROFANITY WARNING)