The mantra of crypto might be "Do Your Own Research" or DYOR but there are still countless people who for one reason or another do not. Others think they are doing research by watching videos where self-anointed gurus talk up different crypto projects. Often these gurus or commentators fail to discuss the financial interest that they have in the project or how they were paid to promote the project. On Youtube, no one quite shrills a project to the masses the way Ben Armstrong or his brand BitBoy Crypto shrills.
He has long been the butt of jokes with the group of people I ran around with and the thought was if you were ever looking at his advice the best would be to do the opposite. Due to being fantastic at promoting and marketing himself, he managed to gain millions of followers with who knows how many people making financial decisions based on what he said. When another content creator on Youtube named Atozy called Armstrong out for scamming his fans/viewers Armstrong was not pleased with at all.
I can only think that Ben Armstrong lives in a world where he is the king and everyone just always says yes to him. When he decided to sue Atozy the reaction from the crypto community was so against him it was almost funny. Armstrong filed a lawsuit claiming defamatory and damaging statements when he has already admitted to promoting failed coins. Everyone quickly rallied around Atozy and within just a couple of days, he had over $200,000 in his legal fund to fight back against BitBoy.
In a move that can only be seen as showcasing his disconnect from the real world, Armstrong announced he was dropping his lawsuit. Now honestly that was the smart move financially because his case was awful and it is highly unlikely it would have ended well for him. The explanation though is truly an awe-inspiring event as he made the announcement during his regular daily Livestream show. He spent a whopping 16 minutes explaining what he did and why he did which spending 16 minutes at the beginning of a show is insane. Armstrong should have probably hired a speech writer though as his reasoning boiled down to one thing and one thing only.
He did not want his name to be made public.
In other words, he wanted to sue someone to get their money but dodge the association tied to this. I do not know about you but if I was innocent of what someone said and it had the effect on his brand that he claimed I would have continued to fight tooth and nail to not only try to recoup some of what I lost but also to clear my name! It is perplexing that he had such a poor understanding of the law as well since he somehow thought that his name was only made public because of its size which while true is also because of the person living in a different state.
Maybe I am just crazy but whenever you read about federal charges or big crimes the reason they are federal is due to the crime crossing state lines. We can see this in trafficking charges or crimes like fraud where the victim is in a different state. Somehow he must have been not only sick from school when this was taught but also just does not pay attention to any sort of news whatsoever. His funniest statement to me though has to be when he said that "this was not about a slapstick lawsuit". The poor guy either failed in his attempt to add humor to this or he needs to do some fact-checking. Slapstick is a type of comedy where the person embarrasses themselves when he most likely meant a SLAPP lawsuit which intends to silence criticism. Errors like this are just slopping and show how detached he has to be from the real world when you are mixing up comedy and litigation.
While I am hopeful that this will dramatically reduce the number of times I have to see or hear about him I doubt it will. Somehow he still thinks he is just the most misunderstood person ever even though he admits to things like pushing failed coins. You can't have it both ways but at least he made a fool out of himself while also boosting Atozy's Youtube channel.
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to further support me below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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