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Forum nameGeneral Discussion
Topic subjectA penny is a pipe dream until they have a better burn mechanism
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13433233&mesg_id=13444446
13444446, A penny is a pipe dream until they have a better burn mechanism
Posted by Cold Truth, Tue Oct-12-21 12:08 PM
>if it ever hits a penny I'm buying a planet. LOL

I mean, that's a 100k.

That aside, there's serious money to be made without it ever getting that far, but at this point you do need a decent investment to see those big returns. But they're there. So far I've tripled the amount I've put in.

It's definitely a FOMO/hype driven currency. The burn mechanism at this point is lackluster. People are hype as hell off it but they need to institute something major to make that happen.

IMO the wave to catch is Saitama, which I think has done a better job implementing a burn mechanism, though I think they need to up the percentage from 2 (really 3.55, since 55% of the redistribution also goes to the dead wallet) to 5.

But that does allow more time for more people to adopt the currency before it starts to hit any significant scarcity. It will never be bitcoin or ethereum, but I don't think that's what it's designed to be, and I think it will develop into more of a practical use currency.

While I think, as with SHIB, much of this is and will be driven by sheer hype FOMO, there's an argument for practical use currency to be made with SHIB and Saitama, and IMO Saitama looks like the one with stronger legs.

Still, there's money to be made off FOMO, and it's still early enough to rake off absurd returns.

15k right now makes you a millionaire if it drops two zeros from where it is now, and that would still be well behind Shib's current price.

Keep in mind, it took Shib all of a year to reach this point, and that didn't have the hype then that Saitama has right now.

That same money, if it ever hits where shib is now, gives you around 28.4 mil.

$500, right today, is a shade under 950K if it ever does what SHIB is doing now.

Which means chopping those numbers down even further still nets a solid return. in terms of risk/reward, I think that's the play.