SH*T Coin Speculation Thread

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

  1. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    I just reread it. This shouldn't be your first purchase in crypto. Always btc or eth. An argument can be made for bitcoin cash but I don't like the argument
     
  2. STKR

    STKR Well-Known Member Silver Stacker

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    I have no interest in crypto other than speculation. I just noticed there was a lot of hype surrounding this particular token and wanted to flex my gambling arm for a share of the perceived cake.

    SafeMoon has only been around for several weeks, has celebrity endorsement and excellent marketing strategies. There's talks about it being listed on Binance and it's currently at the top of the search list for cryptos on twitter and coinmarketcap.com . it's gaining a tonne of traction.

    As I understand it:

    • 1 Quadrillion tokens released
    • 400 trillion tokens have already been burnt/destroyed since.
    • 10% of tokens are essentially taxed upon sale, of which 5% gets destroyed and the other 5% gets redistributed to holders.

    They're raising funds ($1 million) to create their own exchange and reached 50% of their target donations within 20 minutes. They also aim to integrate with other exchanges (like Binance) by the third quarter of this year. It will be interesting to see how that unfolds.
     
  3. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    I did a rough calc, there are 1 quadrillion tokens in existence, with a price of $0.00000172 per token, giving a market cap of 1.2 billion dollars. Looking at 24 hr trading volume of 104 million dollars, 5% of that is burnt meaning 5 million dollars worth of tokens are destroyed daily. I must be missing something important because the numbers don't make sense. It implies by necessity that trading volume must fall off a cliff in order to prevent further burning past 240 days
     
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  4. lubi29

    lubi29 Member

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    Where you hold them to get extra 1000 in minute? Cheers
     
  5. donkarnash

    donkarnash Member

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    You bough the coins at Binance ?
     
  6. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    You have to get onto pancake swap through binance smart chain and swap with BNB
     
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  7. STKR

    STKR Well-Known Member Silver Stacker

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    They just get added to my position in my Trust wallet. I don't think you specifically need a trust wallet to have them added.
     
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  8. STKR

    STKR Well-Known Member Silver Stacker

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    Here's the process I followed:

     
  9. STKR

    STKR Well-Known Member Silver Stacker

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    Over half a trillion tokens have been burnt since yesterday. If this token gains enough momentum, we could see some crazzzzzy returns by the end of the year. I'm already at 2.5x ROI in a couple of days - if it hits 5x I'll withdraw my initial investment and let the rest sit pretty for 6-12 months.

    Screenshot_2021-04-19-11-41-15-19.jpg
     
  10. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

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    Can I be clear on my thoughts? This is essentially a pyramid scheme. This coin functions on people buying in later (pushing up the price, and paying the 5% burn and 5% tax that goes other holders). That's where the 1000 tokens comes from. You can make a very quick buck, but it essentially rewards the people who buy in first and can potentially penalise those who buy in later.
    In addition, this does not function at all as a medium of exchange, due to the 10% tax on all transactions. It's essentially a yield farm with all the associated risks
     
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  11. dozerz

    dozerz Well-Known Member Silver Stacker

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    this is an excellent ponzi, invested :)
     
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  12. STKR

    STKR Well-Known Member Silver Stacker

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    It could dump and be worthless tomorrow. I have no ethical hangups with holding a position at all, it's gambling 101 - be prepared to lose it all.

    It's delfationary nature means that paying a 10% fee is trivial when compared the Daily gains. As the days go by, the circulating currency will reduce and so will the token burn rate (by volume not %).

    I own over half a billion tokens, so the 500 trillion in circulation isn't as much as people think, especially when the current burn rate is more than 1 billion tokens per minute and over 40% of all tokens have already been destroyed.

    Edit to add: you don't pay any fees for buying (other than typical transaction fees not associated with SafeMoon protocol), only when you sell does it tax you 10%. It might sound like a decent chunk, but it's offset by the tokens you gain from holding. I've already received a 0.5% return from added tokens in 2 days.

    Pyramid Ponzi scheme or not, it's still an exciting thing to be involved in.
     
    Last edited: Apr 19, 2021
  13. STKR

    STKR Well-Known Member Silver Stacker

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    Just to give an idea of the current burn rate, almost 200 billion tokens have been burnt in less than 2 hours. Market cap is pushing up to the $2 billion range.

    Screenshot_2021-04-19-13-35-47-14.jpg
     
  14. STKR

    STKR Well-Known Member Silver Stacker

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  15. Jason1

    Jason1 Well-Known Member

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    Probs has as much merit as most other alt coins on the market, which is no merrit what-so ever lol, but that doesnt mean they dont make people money taking a gamble on them via speculation, so you may as well have a go if you think others may jump in and go for a pump. As you said your prepared to lose it on a gamble then no harm done. Hopefully you make a few bucks, and you get out when you get ahead. With allot of cryptos it doesnt seem to matter of its a bullshit coin, as long as people jump on it money can be made
     
    Last edited: Apr 19, 2021
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  16. STKR

    STKR Well-Known Member Silver Stacker

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  17. heartastack

    heartastack Well-Known Member Silver Stacker

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    It’s funny this cycle (the stupid parts) reminds me more of 2013/14 than 2017/18.
     
  18. dozerz

    dozerz Well-Known Member Silver Stacker

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    2x in 1 day, its going well.
     
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  19. STKR

    STKR Well-Known Member Silver Stacker

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    In two days we find out if SafeMoon is being listed on one of the major exchanges, like Binance or Coinbase. I think the market is already factoring that in.

    Screenshot_2021-04-20-10-12-05-05.jpg
     
  20. STKR

    STKR Well-Known Member Silver Stacker

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    2 trillion tokens have been burnt since the start of this thread.

    Safemoon market cap is now 3.3 Billion USD.

    Over 600,000 holders and growing.

    The most searched crypto in the world.
    The fastest growing community in the world.

    Screenshot_2021-04-20-10-52-28-53.jpg
     

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