Substratum CEO Justin Tabb Tries to Calm SUB Community Over Shortcomings, Only Hurting His Cause
Justin Tabb recently interviewed with an Influenced contributor. During the interview, Tabb addressed his Substratum project and took the position that he is not accountable.
The contributor, Suzie Ocie, asked Tabb whether Substratum was truly struggling financially as people believed. Tabb responded that it isn’t the case. Rather, Substratum has been in business for a year and a half and even with the tough crypto market, the project has been “fortunate to hit good points most of the time with conversion to fiat for use in building the company.” Tabb added that the project utilized Bitcoin and Bitcoin Cash at the onset to “get the business up and running,” and any upfront costs were due to building the business. At the start, the project had half the Ethereum that it raised during the ICO and nearly all of Ripple and Litecoin that it had raised, all stored in Cold Storage.
Ocie then asked if the project was in such good financial position, then why was a video on YouTube showing Tabb stating otherwise.
Tabb responded that the platform
“will be able to pick up a percentage of Ethereum and we rebuy in and once the market turns bull, which I believe it will in a couple of months, then our position will be that much better and we will be able to further the time that we have and uh continue building the products that we set out to build. Uh and until we get cash flow positive, which we expect to do next year.”
Ocio then asked what caused Substratum node to not be released in 2018.
Tabb responded that the platform does not want to issue a substandard product just to “hit some arbitrary deadline.”
Ocio then asked what happened to Crypto Pay.
Tabb responded that CryptoPay is “still very much in the pipeline.”
Ocio then asked what Tabb’s outline is for the blockchain and crypto industries in 2019.
“Additionally, as projects are given the time to mature, you will see a more full and rich usability application in general, so all in all very good things.”
Take note, the final statement contradicts what Tabb stated in December 2018. He stated then that his position on the crypto market is that
“Basically what’s happening now is um the simulations continued to indicate that Ethereum is going to continue this downward trend obviously. Uh and test all the way down to $60. So we are going to not cash in, but uh begin basically attempting to trade up so we can further our position as long as possible.”