SH*T Coin Speculation Thread

Discussion in 'Digital Currencies' started by STKR, Apr 18, 2021.

  1. STKR

    STKR Well-Known Member Silver Stacker

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    There's a massive amount of hype with SafeMoon lately. They seem to have come a long way in a short amount of time, have a good marketing strategy and an interesting deflationary reward system.

    As I know little about the inner-workings of crypto, I'm keen to hear the views of other members who have investigated SafeMoon and to see how many members have a position or are considering a position.

     
  2. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    I didn't watch the vid, I had a look at their white paper and roadmap. The white paper is fairly brief on details and the roadmap is just, let's say, a bit vague. I can't say I recall reading merch sales as a significant milestone in other crypto projects. :cool:

    I'm not up on the details but a deflationary token suggests it rewards early investors as supply cannot meet rising demand. I'm not a fan of deflationary tokens. Nothing there to enthuse me except a massive pump which could keep going - without my money.
     
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  3. STKR

    STKR Well-Known Member Silver Stacker

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    I bought some the other day and I think I've seen a 100% return since. Every second more tokens get added to my position via their reward system - it's nice to watch.

    This is just a gambling venture for me. My first crypto purchase, so brace yourself for a drop in the overall markets :D
     
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  4. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Awesome @STKR, you'll have two options depending upon your investment strategy:

    1. cash profits into BTC
    2. HODL

    Good luck with whatever you decide to do. :)
     
  5. STKR

    STKR Well-Known Member Silver Stacker

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    Apparently SafeMoon is now the #1 searched crypto on coinmarketcap.com

    I'm following the hype.

    I'll HODL and cash out into fiat to buy another asset, like silver or gold. This is all fantasy speculation for me. Like buying 140 Million little lottery tickets :cool: I think I'll turn this into a hobby of mine - sniffing out Alt coins for speculation.
     
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  6. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Okay, that's not the normal crypto strategy any more though. You've entered the Dark Side so time to think like a Dark Sider. :)

    So thinking like a Dark Sider means that if you do decide to sell down the path you trade your Moonies for an asset that can earn a passive income like ETH (staking) or an asset you can use as collateral to secure a loan in stinky fiat (like BTC). That way you don't cash out of crypto into something that is inflationary and loses purchasing power. Fiat money is the cheapest thing on the planet (apart from water but it's also suffering from a State sanctioned monopoly on price) so you really don't want to swap a valuable asset for something that is going to devalue because assets are like camels, costly to accumulate.

    Stay in crypto, don't swap for fiat or even PMs because they can't be used as collateral or can't be staked.
     
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  7. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    Agree with above. Can't remember when or where I heard it, but best advice I ever recall is "Just keep some skin in the game"
     
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  8. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    I just bought some too, exit strategy is gold or btc. As Stkr said, total speculation. Lol this is my first time buying a shitcoin. I only own the big 2
     
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  9. STKR

    STKR Well-Known Member Silver Stacker

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    I now own 605 Million SafeMoon speculation tokens. It just keeps on climbing everytime someone sells. I get around 1000 tokens a minute for holding.
     
  10. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    The v high slippage is a disincentive to sell. Who knows where it will go. I've already written it off in my mind
     
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  11. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    It's a tough one to assess as far as what a future price could be. Normally you'd compare total circulating supply and current market cap with one of the more established tokens to get some realistic future price but when the current market and total circulating supply is unknown then it makes it impossible. It may not be possible for it to even reach 1c for example.

    Screen Shot 2021-04-18 at 4.45.10 pm.png
     
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  12. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    LOL, if it reaches one cent, I'll retire
     
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  13. STKR

    STKR Well-Known Member Silver Stacker

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    400 trillion of those tokens have already been "burnt" - almost half of the original supply.

    https://safemoon.net/

    Screenshot_2021-04-18-17-01-44-67.jpg
     
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  14. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    So to equal BTC’s market cap it has to get to about 0.002c based on the current circulating supply.

    So I would say it’s got 10x or maybe even 100x left in it max if all goes to plan.

    :cool:
     
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  15. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    Lol no other crypto will ever get to bitcoins market cap. This coin dies if there are no transactions. Holders get v small payoffs for holding.
     
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  16. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Yep, hence why 0.002c is completely out of the question.
     
  17. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    There are currently five zeros from the decimal point. I'm happy if I get 5x+
     
  18. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    That’s why HODLers need to understand what is a realistic price and what is simply fantasy.

    Ether has a 5x chance, but a more solid project.
     
  19. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    True, but like all gambles, especially in this case, you need to be able to deal with losing it all. Asymmetric bet
     
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  20. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    I think the OP may have worked out it’s a huge gamble, which is the sort of info he was after.
     
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