Trueman Goes To The SHIBARMY

a reply to: Trueman

Yes but i doubt he accumulated it by being honest with the public.

If he's involved its to generate profit for himself at your expense.

originally posted by: Grenade
a reply to: Trueman

Yes but i doubt he accumulated it by being honest with the public.

If he's involved its to generate profit for himself at your expense.

Well, like I said. I'm not a huge investor, a bunch of dollars only. I'm learning this because next year I'll be pulling out my 401k and a portion of it will go on trade.

By the way, ever heard about Jasmy ?

It's a Japanese crypto. It has just a week or so in Coinbase. No market cap/circulating supply info but +14% last 24 hours volume. It went from $5000 to about 1 cent at the beginning of the year when Japan banned coins. Now is $0.06.

Now Coinbase added it and it's going up, it could hit the $1. The CEO and crew are former SONY important people.

It could go up to the sky if Japan changes it's policy. Soon or later they will accept coins.

originally posted by: Trueman
a reply to: scojak

I disagree with your opinion about Shiba Inu, nobody knows for sure what is going to happen with it and for the price it has, it worth to throw a bunch of bucks on it and see.

There are 10s of thousands of cryptos and many of them are cheap. It doesn't make this particular one a good investment because it's cheap.

Some crypto are designed for smart contracts, some for instant settlement, some are designed as oracles for other projects, and others support Dapps. Some are designed with no real utility. Shib is one of those designed with no real utility.

Shib was designed to be a meme coin for fun, with 50% black holed to provide liquidity, and the remainder sent to the ETH founder as a publicity stunt. It is designed to do nothing and, assuming it works as designed, it will end up doing nothing. The entirety of your investment relies on hype. The best thing that happened was Buterin donating 40% to India because it meant there was a state actor with a vested interest in supporting the project.

Calling a community of people an army doesn't make it a brotherhood, it doesn't get you any allegiance with other holders, and it doesn't change the underlying project merits. It creates brand loyalty and hype, which causes emotional trading. Pros want the Link Marines and Shib Army and Casino Coin Nation, because it's advantageous for them. Hype is the most volatile of all indicators for crypto. It changes constantly, is driven by unseen entities, and is meant to fuel irrational investment. A meme token is, by it's very definition, a hype project and is the worst kind of project for long term investment. Higher volatility (hype) is traded on lower time frames and requires far more due diligence than investing for the long haul on more established projects.

Can you make money on Shib or other meme tokens? Sure. Is it a rational investment based on a well-informed view of crypto? No. It's a hobby or trading strategy, but definitely not an investment.

If a crypto is providing a service like VeChain, XRP, or Ethereum, it doesn't need Musk or celebrities to endorse it. Nobody knows VeChain, it trades below .15, and it is one of the most utilized cryptocurrencies in existence. It's got industry certifications and is approved by China. It's branching out into real property, real estate, tokenized. Otherwise known as an NFT, tokenized real property is currently taking in millions via stupid cat pictures and digital art. Tokenized titles will solve a bunch of problems, from reducing costs to improving data integrity. They can also be integrated with other smart contracts like mortgage loans, escrow services, and other things yet to be dreamed up. That tiny part of VeChain's ecosystem outstrips the utility of Shib even if Shib were to attain all project goals.

When regulations start coming down it's projects like VeChain that will be among the few survivors. Meme tokens and privacy tokens will all likely be marginalized as exchanges move toward becoming registered financial service companies. Crypto will change the system forever, but the system is going to also radically change crypto. Licensed financial services will have to segregate tokens that don't meet standards, either stop supporting their trade entirely or set up independent platforms for unregulated tokens. Government can't ban crypto, but they can make it virtually impossible to move between fiat and unapproved crypto.

I hope you make money, but I'm glad you're only playing with a small amount you're prepared to lose. I've bought meme tokens with throwaway money, many years ago enjoyed buying lottery tickets just to think about winning, and I've done some gambling for fun. As long as you and those you're encouraging understand that Shib is the same kind of deal I don't see the harm in it. Be mindful that all crypto sales are taxable events and they're eager to nail people.

a reply to: Ksihkehe

Thanks for your excellent post. I agree there are many cryptos around. The difference that I take in consideration is the acceptance by Coinbase, for obvious reasons. It's a filter.

Of course meme cryptos are just like AMC or CEI stocks. Not long term, I'll give Shiba until January, the end of the year is coming with lots of hype and panic.

$SHIB is just the newest joke. $DOGE was the first joke. Both have done well. However take a look at Market Cap Rank for both. They are tapped out at the moment until the total market =$5T.
a reply to: Trueman

a reply to: DondeEsta?

By the first week of January we will find out. Doesn't hurt to wait and follow the whales in the meantime.

a reply to: Trueman

How are you going to exchange this money after China hits us with an EMP.

I mean, no electricity and you are hungry. How are you going to pay for something to eat? "And you say, I can pay you with crypto? If I could even get to it."