Five Reasons Why LasseCash is Trash

Image of a LasseCash Dumpster Fire generated by Stable Diffusion

Most of what can be said about this point is covered in @themarkymark's post, "A look into the LasseCash Tribe, as requested by Lasseehlers." The post is from May 2021, but not much has changed with LasseCash since then. If anything, LasseCash has become even more centralized. For example, in September of that same year, @lasseehlers posted "Create your NFT art on LasseCash," but three years later, a scroll through the lassecash.com NFT market reveals that there aren't many NFTs, and they were all minted by @lasseehlers and the top members of his circlejerk. Nobody else is creating art on LasseCash, while all the other tribes' Outpost NFT markets have performed far better.

@lasseehlers loves pumping the price of LasseCash, which becomes evident when reading his post "92% or 2.7 million % APY, you decide?" Typically, a high APY, even in crypto, is a red flag for a scam. However, the only way @lasseehlers can generate interest in LasseCash is by going overboard with promises of huge returns.

@lasseehlers used to brag about absurdly high APY for his LasseCash liquidity pools, such as 225%, 400%, 600%, and even 1000%. One method he used was buying his own LasseCash token to artificially inflate demand. Another way was by minting almost two dozen Hive-Engine tokens with zero utility and offering them as LP rewards for his LasseCash pools. However, the gimmick has long since ended, and @lasseehlers no longer focuses on his pools' APYs. He flooded Hive-Engine with worthless tokens for a short-term bragging fest.

Image of a LasseCash Dumpster Fire generated by Stable Diffusion

Earlier this year, on my main @holovision account, I posted a "Hive fan theory" speculating that the keys to @lassecash might have been lost. It made sense at the time, and there was compelling evidence to support the hypothesis. However, the @lassecash account later made a transaction to prove that the keys weren't lost.

What doesn’t make sense is that the @lassecash account isn't being used for tribe announcements and updates. Instead, nearly all LasseCash updates and announcements are made on @lasseehlers' personal account. This account has legitimately earned a negative reputation score on Hive, so any LasseCash tribe announcements made there are hidden.

Virtually all tribe owners on Hive understand that a tribe account should be kept separate from a personal account, and @lasseehlers’ approach proves the wisdom of this practice. He promotes get-rich-quick crypto schemes and pseudoscience like the flat Earth model on his account, alongside LasseCash news. As a result, his personal opinions have become intertwined with his tribe, making LasseCash and @lasseehlers essentially one and the same.

What kind of future can a token have when it promotes the flat Earth model as space tourism becomes more common? What kind of Hive second-layer token promotes blockchains outside of Hive?

When @lasseehlers first got Outpost, one of his initial plans was to add a DAO to lassecash.com so tribe members could vote to fund proposals. That never happened. As mentioned earlier in this post, LasseCash has arguably become even more centralized since 2021.

@lasseehlers minted a bunch of different Hive-Engine tokens like SHRIMP, CHICKEN, OLIVE, YOLK, CHEESE, NUTS, AVOCADO, SIGMA, and many others—almost two dozen by my count. If @lasseehlers had spent the BEE to create a DAO for lassecash.com, rather than minting tokens with no utility to spam the LasseCash LP providers' wallets, he could have followed through with his original plan.

Much like George R. R. Martin on South Park promising that pizzas are coming, @lasseehlers assures us that all of his tokens will eventually have some utility. Just be patient! It’s been a few years, so what’s a few more? Just HODL. It will happen. @lasseehlers pinky promises.

Image Source: https://tribaldex.com/tokens

@lasseehlers even announces plans before he understands the idea. For example VSC (or as he kept referring to it in his first post about it "CSV", see screencap below). Basically @lasseehlers knows that he wants to switch LasseCash over to VSC so it will be the first. That's the idea. That's his whole justification of why that should pump LasseCash. He can't give any other advantage VSC would provide LasseCash that Hive-Engine doesn't already give LasseCash.

Ever since the first post about VSC @lasseehler has wavered. Around two weeks after the post he posted that it was "close to a done deal", then he kept claiming it might happen, In late July he made a post about it happening with the support of the LasseCash community and then deleting the post blaming @themarkymark.

These LasseCash updates and announcements @lasseehlers posts seem to only be meant for FOMO. No honest intention to actually follow through but give the appearance that LasseCash has, or will have, more utility than it actually does.

It might seem like I am padding this list but I believe this is different from #3. Even though there are times when @lasseehlers pretends LasseCash isn't reliant on the Hive blockchain LasseCash isn't an island and it has measurable negative effects on the Hive ecosystem. The actions of @lasseehlers reflect poorly on Hive. Since @lasseehlers is de facto the active account for LasseCash that means LasseCash reflects poorly on Hive.

Last year @lasseehlers made an absurd proposal for 60,000 HBD from the Decentralized Hive Fund. He claimed in the post title he wanted the 60,000 HBD to promote Hive via LasseCash. However, reading his proposal and his response to @kencode's reply to the proposal his intention was obviously only to promote LasseCash and blockchains other than Hive. He also didn't want any accountability or responsibility for how he would handle the 60,000 HBD.

It should also be noted that in his proposal if he had gotten the 60,000 HBD he was begging for the 60,000 HBD would have gone to his personal @lasseehlers account rather than the actual @lassecash account. You know, the tribe account that was supposed to be promoting Hive. The self-proclaimed "crypto expert" economics genius doesn't understand why not to commingled accounts. Or he did understand but since he wasn't planning to have any responsibility on how the 60,000 HBD would be used he didn't think it would matter.

But wait. It got worse. After a multi-part complain posting about how nobody supported the first asinine proposal there was @lasseehlers DHF Proposal 2: Electric Boogaloo. This dumpster fire proposal was similar to the first proposal of claiming to promote Hive while intending to do the opposite with a much smaller budget (which again would have gone to @lasseehlers' personal account rather than the @lassecash account). Doubling down, he planned not to have any accountability or responsibility for how the HBD he begged for in his second proposal would be used.

Image Source: https://peakd.com/lassecash/@lasseehlers/promoting-hive-via-lassecash-pilot

In order to prove the feasibility of his second proposal @lasseehlers personally vouched for five "professional bloggers". One of the "professional bloggers" (@majidhussain007) turned out to be AI-generated. Since @lasseehlers never explained what made them "professional bloggers" I assume they knew enough about ChatGPT detection to alter the output enough to obscure detection.

It really wasn't @lasseehlers job to explain what made them "professional bloggers". Each could have explained it in an introduction post. But keeping with the spirit of LasseCash being more centralized than it was in 2021 @lasseehlers had to approve each post made by the "professional bloggers". So @saboor, @dougaugust, @stanleyukwuoma and @zaavich only made posts about LasseCash, XEN and the tokens of professional scammer Richard Heart who is currently being sued by the SEC and wanted by authorities in Finland.

Since @lasseehlers doesn't understand how credibility works in the final draft of his second proposal he stated "...in the future I will check for that beforehand", because checking before vouching for them was too hard I suppose.

None of the "professional bloggers" @lasseehlers "onboarded" have posted on Hive since last year. Thus proving that had @lasseehlers' second proposal "to promote Hive via LasseCash" passed it would have been a 100% waste of HBD. It would have at best been fifty temporary "professional bloggers" posting about anything other than Hive.

Maybe worst of all, since @lasseehlers is de facto the active LasseCash account that means LasseCash doxxes the private information of people on the Hive blockchain. @lasseehlers used to post that kind of sensitive information in his blog posts and would edit it out when I called him out for doing that. Now, he does it as memo transactions on Hive. I edited out the details in the screencap below but anybody can go to the Hive blockchain and find it unredacted.

Image Source: https://peakd.com/@lasseehlers/wallet

I would like to make a parody "If Sir Sic Did Cryptocurrency" Youtube video using one or two of @lasseehlers' YouTube videos. But I won't because I know what will happen. He'll find out my parody videos exist. He'll ignore that my use of his YouTube videos is transformative and file a DMCA takedown notice in bad faith. I'll either have to accept the copyright strike or file a counter-claim which would require me to provide @lasseehlers, under the penalty of perjury, my name, address and phone number. He'd then post that information without my consent on the Hive blockchain. Therefore, LasseCash is having a chilling effect on my desire to make and post a parody video on YouTube.

LasseCash isn't about freedom. LasseCash is trash.