Bitcoin tycoon and expert ‘Li Xiaolai’ from China would take a passive approach to future blockchain schemes, mentioning on his recent social media post.
Mentioning on his web blog post, Li Xiaolai added that in an approach that perceived to take many unexpectedly, Li, renowned formally of China’s reported biggest Bitcoin bagholders and investors, appeared unsatisfied with deceitful actors within the blockchain ecosystem that were claiming he was a part of their undertakings.
“From these days on, Li Xiaolai in person won’t invest in any projects (whether it’s related blockchain or starup’s),” his post on Chinese social media network Weibo reads, translated by Chinese Tech journal namely TechNode. Li added:
“So, if you see ‘Li Xiaolai’ related to any project (I have been related to innumerable projects even without my information, ninety nine percent isn’t an exaggeration), simply ignore it.”
Li Xiaolai was probably referencing similar things that have resulted in several cryptocurrency industry figures stating warnings regarding such deceitful actors. Since from the starting of the ICO’s explosion in 2017 specifically, numerous well-known names have complained of their names showing on lists of ‘advisors’ for several blockchain projects, which in fact had no relation.
Continuing, Li Xiaolai appeared unsure, hinting he wanted to withdraw from the crypto ecosystem entirely, however on a very brief basis.
Adding further he mentioned:
“I have been thing for many years to ponder on my career amendment. As for what I’m doing next, I have not decided yet while I’m still optimistic regarding blockchain within the future.”
Both ICO’s and cryptocurrency use in China stay impermissible at the present times, Li inspite of that advocating for the government’s legislative shake-up once it was absolutely declared on last Sep.