Li Xiaolai, one of the most important investors in the Chinese crypto sphere, broke the news today, but not for the reasons he would have liked.
It is rumored that Mr. Li is the person with the most Bitcoins in China, so it would be normal to see bullish tabloids associated with his name; however, today, a private conversation was secretly recorded and leaked. In it, Li Xiaolai slams several cryptocurrencies and even offends not only its creators but the general public.
Known for being a righteous man, the conversation, full of foul words, shocked the community. But more important than the way he talks is knowing what he thinks about several important projects:
Li Xiaolai about Lao Mao, CEO of Big.One:
“Lao Mao was a nobody; it is me who help him to be somebody in the crypto world.”
Li Xiaolai about Qtum
“Patrick Shuai’s Qtum is an “air coin,” it is me who helped him promote Qtum for six months. Because his scamming mode is simple. If he decided to develop DAPP first, I might have given no care.
Li Xiaolai about Adopters
Blockchain founders should be at least Internet Celebrity, fans-flow is the core competition, and other factors are all bullshit. As long as those idiots believe in you, there will be consensus and what you need to do is to continue cheating them.”
Li Xiaolai about NEO
…NEO is also a stupid project, worthless; if you were Wang Lijie [a famous angel investor in China], you would have sold them at 1.5 RMB. But why did its price went up so high? Just because some significant venture capital participated in it and hyped its price. Even Da Hongfei [CEO of Onchain Capital] himself is holding very little NEO…
Li Xiaolai about Tron (TRX)
After you have already achieved financial freedom, what keeps you moving on is you’re unwilling to let the No.1 feeling go. For example, there is a fraud exchange called Binance and a scammer called Justin Sun (Founder of TRON), how could you allow yourself to lag behind the?! You have to work harder and faster.
Li Xiaolai about Binance and CZ
Zhao Changpeng (founder of Binance) is not a good guy; he used to have dirty deals with Xu MingXing (founder of OKEX). He knows very little about technical issues. Binance made its name because all the crypto exchanges had to shut down upon the crypto ban last September in China, but he insisted on keeping Binance operating only for his Canadian nationality
He Yi, Cofounder of Binance:
“In a scammer’s eye, all others are scammers; in an idiot’s eye, all are idiots. Binance made its name by solid technology, products, and users. We surely have a lot to be improved, but the claim that CZ is not a good guy is too far and lacking in evidence. The emergence of such incident indicates that the industry has entered a period of stagnation, and someone’s out there using this to get attentions.”
Justin Sun, founder of Tron
He was again innocently hit by a scandal. While comments upon it were quite brutal saying “everyone knows you are a scammer, Li’s right on it
Patrick Shuai, founder of Qtum, responded with some solid counter argumentation:
Qtum is not an “air coin”, its mainnet has been launched in 2017 with more than 7,000 POS nodes in 56 countries.
Lao Mai CEO of Big.one
Don’t take it too seriously as a private conversation, and there are indeed useful points in it if dirty words are removed, after all, Li is an investor.
What does Mr. Li think of all this?
After learning that his conversation had leaked out, Li Xiaolai apologized for the language used. However, he never said he thought differently or apologized for categorizing the scam coins.
In a post from Weibo (a Chinese social network similar to Twitter), Li said the following:
“Very embarrassing … I swear a lot when speaking privately. I also like studying how to curse in various languages, for example, Americans can utter a sentence with all fuck words in a row: FUCK FUCKING FUCKER. I’d like to avoid those dirty words in public speaking, but in private, I don’t have to bother to please others.:”
See the full video here (Chinese Audio):