Hello!! Once again, last three posts were upvoted heavily. I appreciate all the interest on what i have to say. Today i am leaving aside my conspiranoic side, my teacher side and i am to bringing some people back to earth. The main topic is yesterday’s AMA but something more specific. the burning and people complaining about it. First of all, remember what i taught some of you several posts ago:
P = MC/CS
Price depends on market cap and circulating supply. In other words, to increase the price you have to either increase the coin value (market cap) thru adoption, uses etc OR decrease the circulating supply by burning etc. Of course the quickest and simplest way to rise the price is decreasing/burning the CS.
I also said that contrary to what many people say, having a large circulating supply is a perk, is good for the project for many complex reasons. In general, it gives the devs a a lot of play in the future and having such a good MC with a such a big CS says a lot about the project.
For some reason and is understandable, many people think the devs are working on ways to burning the coins. This is wrong. The truth is that they are working in ways to bring up value to the coin, provide an ecosystem and further develop the project. They want to give it more uses and develop many things around the coin. If they wanted to reduce the supply even more they would have done it when they distributed the coins to Vitalik.
Stop complaining about the slow burns. Stop complaining about the new mechanics not having the burning system you want. Yeah is true, the game was a the best way to burn coins but they dont want that! You want that so you can sell your shibs sooner than later and run away. Stop complaining about bone and leash, they were part of the project since the start, is natural that they are giving it more functions now. They want shib to be the next BTC and you want to dump it all at .01. Many see this as quick money scheme but the truth this is someone’s project who is aiming to have one of the best currencies in the future. If you want to dump it for million you will have to hold.
submitted by /u/gladiusnomadus
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