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Well... I mean you don't have to sell it just because it goes up. It can go up this year and you can wait to sell it until January. I know there's probably a prevailing fear that everyone is going make a mad rush for the checkout counter as soon as it crosses a certain price threshold... but if anyone believes that the price isn't going to come back from that or that it's not going to leap to even larger highs once more projects come online...
Then go away.
I have yet to see a post anywhere from anyone that is scared of V2. If anyone is scared it's because they're not doing their DD and can't see the necessity of a consolidation. That's their own fault. People invest in things that split all the time. Otherwise those companies wouldn't exist after the fact.
You're spreading FUD. That's why you're trying to use terms like "reverse stock split". This isn't a stock. It doesn't function the same as a stock. You have zero idea what you're talking about. You want to push terms like "metaverse" and "gaming" because you watched a video on it earlier in the week and latched on to the terms without understanding anything behind it.
V2 is not causing a stock split. The need to consolidate has already been explained several times. The decision to consolidate and move to V2 in the process is done. Deal with it.
If they won't invest in V2, then I suppose your metaverse and gaming promotion is irrelevant, isn't it? Can't have metaverse or gaming without V2.
Here ya go.
Purpose of V2
There was a quote that was posted online that said “Currently 4% of the people on this globe own crypto. Imagine what happens if 30% of the people own crypto and use it as a currency. We’re still early.” In essence, this is part of what John Karony wants Safemoon to become. For perspective, 56% of the US population owns traditional stocks. There are some countries where the working class is require to put money into an investment portfolio to pay for their retirement (i.e. Australia – almost the entire population owns stock).
There were two main objectives behind the V2 consolidation. The first was that we had too many zeroes and the major exchanges wouldn’t list us. Now that we’ve fixed that, there are all kinds of rumors about being listed on Coinbase and Binance along with being listed on a few more mid-level exchanges that as of now haven’t been announced. There are also companies like Robinhood that have announced their intention to expand their listing of cryptos in 2022. It’s possible that Safemoon might be listed there too.
Once the gates on V1 close and the resulting burns have taken effect, you’re going to see the price rise as the supply lowers. Eventually, Safemoon will be picked up by institutional investors and be added to basket funds and ETFs among other diversified portfolios. This in addition to the expanding liquidity pool will create a more stable coin price which is another incentive to investors as well as anyone considering using the coin for commerce.
And speaking of the burns... I'm amused that John changed the tax rate to 20% for V1 to encourage people to move over. It wouldn't surprise me if he did that again soon up until the gates close. What happens then... who knows? He may close the gates and let everything behind it burn. He may manually move people over, as he has suggested he has the ability to do that. It's kind of a crapshoot at this point. If he doesn't move everyone over, it's going to be a very generous burn. Even just burning the dust from all the transactions that couldn't be made will be a decent size burn. Things to look forward to...
The second objective was that the V2 platform creates a foundation for practically EVERYTHING that Safemoon is doing. EVERYTHING is connected to V2 and it allows room to expand with new projects that haven’t even been conceived yet. This includes the wallet, the exchange, Safemoon Connect, the blockchain, the wind turbines, the web3 communications platform, commerce, gaming, the Safemoon card, integration into The Gambian Central Bank and financial centers, etc. John and Ryan have both said several times that when looking at projects the first test is the usage case; is there a need for the product and will it be widely used? The second test is does the product help the Safemoon ecosystem? So remember that all of these projects are going to help us burn tokens.
What I’m looking forward to the most is the exchange. This has the potential to be the biggest game changer out of every product in development. The Binance exchange made over $1 billion in profit last year. So did Coinbase. John is on record as saying he wants Safemoon to be one of the biggest players in the crypto/tech market; comparable to Binance or Ethereum. As long as he makes it easy for investors to purchase not only Safemoon, but every other token/coin on the Safemoon exchange, we’re going to be ok. This means adding bank transfers, credit/debit transactions, wire transfers, etc. Hopefully even PayPal. Coinbase offers all of those options. Be like Coinbase.
The V2 contract also changes its 10% tax formula to 4% reflection for holders, 4% for the liquidity pool and 2% for the burn. The original V1 contract had a tax that included 5% reflection for holders, 2.5% liquidity pool and 2.5% burned. This increase to the liquidity pool in V2 affects how much flexible the price will be to large sells. Meaning if there is a giant whale sale, it won’t impact the price nearly as much as it would have (and did) on V1.
Gaming
One of the early goals of Safemoon was to increase the burn of the token through the use of gaming. The general idea was that there would be integration of Safemoon into certain games, most of which would be mobile apps. There were also statements made that Safemoon was going to be creating its own games instead of just integrating with pre-existing ones. These games would allow for in-app purchases and NFTs that you could buy using Safemoon tokens. NFTs would include unique skins, items, etc. This was the main method for which Safemoon would generate money while increasing the burn through gaming. There were even rumors that you would be able to earn Safemoon in-game.
The MoonCraft test server was built on this premise. It was launched on July 10th of this year. It’s still being worked on. It’s still not connected to the Safemoon blockchain, meaning you’re still not earning or spending actual Safemoon within the game. I’ve heard that there’s not a lot of people on there and those that are on there are mostly devs. It’s going to be a small population server. It’s not going to be a situation where three million people will log on to MoonCraft. The capacity for that won’t even exist. On top of which, the current MoonCraft is on the JAVA platform which won’t appeal to a lot of people.
The Safemoon gaming chat server was reorganized in November and December. I’m still reading through it but so far it doesn’t seem like any new games are in development, integration is still on hold, and everyone is still wondering when something will be connected to the blockchain. Integrating into a game would likely be done in a small batch on a separate server, based on what we’ve seen happen with MoonCraft. There would be a testing process for each game/server. It would take time to launch and the use of Safemoon would probably be unique to that specific server as opposed to being a game-wide feature. That likely wouldn’t happen unless the game was built by Safemoon. Building a mobile app from scratch can take anywhere from a few months to a year. That may or may not include testing. Meaning the process could take even longer.
If you’re paying attention to the Safemoon Sundays, John isn’t even talking about gaming at this point. His priority is on all the other Safemoon projects that have the ability to actually develop his ecosystem and affect the world – V2 consolidation, the blockchain, the exchange, wind turbines, web3, commerce, etc. There are only so many resources that Safemoon has available to them right now and gaming is taking a backseat at the moment. In other words, by the time gaming gets up and running, everything else on the V2 blockchain is likely to already be in play and generating burn.
Wash Sales
A wash sale is when you take a security that you experienced a loss with, sell it, and then repurchase it or a “similar security” 30 days before or after the sale. Obviously we can’t claim losses or gains until we sell the security so the idea here is that you can claim a loss on your taxes while still holding on to the security. The IRS has a “Wash Sale Rule” that prevents this with most securities. They want you to sell and REALLY take the loss if you’re going to claim it. In other words, if you buy back the same security 30 days before or after your sell, you can’t claim it as a loss. So no - the Wash Sales Rule does not apply with crypto. You can sell your Safemoon at a loss, immediately buy it back, and still claim it as a loss on your taxes. Biden’s Build Back Better Act will close that loophole. If it passes, this will be the last opportunity to take advantage of it.
Those two would be the rumors... Binance has been a rumor for a long time now but I did see something posted on a different site that said Coinbase was a go on the V2 blockchain. Personally, I love Coinbase. I hope that the Safemoon Exchange allows purchases the same way Coinbase does because that's the only way I can purchase crypto at the moment.
I might be mixing up the issues, but I think one of the issues was a lost seed phrase for wallet #1.
Buc is likely right. I bought $50 of BNB and I think it was right around there. I still have $40 after transaction fees and BNB dropping 5% this morning.
I think 550B is a reasonable goal. I'm secretly hoping some of those whales forget to come over and get locked behind the gates... but John has already said he can manually move people over too. So there goes that.
If we get picked up on the major exchanges, I don't think we'd have to worry about hitting 500B end of 2022. Between that, web3 and the wind turbines. On top of some of the other Area 32 projects.
All good. I don't envy you your numbers reports. That's gotta be a friggin mess right now, lol
I'm against you not posting. I rather enjoy reading your posts.
That... would be my guess. There's no sense in issuing V1 when they're about to shut the door on it anyway. BitMart is going to have to buy at least some of the tokens off the open market. Both of those coupled with a post that was made that quoted John as saying they can manually move holders over to V2 (yes the context was different but the point is that they have the ability to force you over).
SAFEMOON SUNDAY RECAP - 10/31/2021
Presented by John Karony (CEO) and Ryan Arriaga (Global Head of Products)
V2 MIGRATION
- Easiest way to upgrade is through the V2 wallet.
- Be aware of scams. There are bots and scammers pretending to be Trust Wallet or Safemoon. Write down your 12 word seed phrase. Do not give it out to anyone. (I know we discussed this recently but there are all kinds of plays out there right now that are looking to take advantage of people that don't know any better. Be careful about those that are trying to spoof well known accounts.)
- The ONLY contract address is on the Safemoon wallet. Don't trust any contract address that is provided to you by someone else.
- Initially, the 10% Safemoon tax was still in play when people were upgrading to V2. If that happened to you, contact Safemoon through their website. They will not ask for your 12 or 24 word seed phrase.
- Left over dust will remain on the V1 chain. After a certain amount of time V1 will no longer be supported.With almost 3 million Safemoon holders all likely having some amount of dust, this could end up being a fairly good sized burn.
- Allows us to work with some of the e-commerce partners that are lined up.
WALLET UPDATE
- You can now import multiple wallets to your Safemoon wallet, as well as label them.
- Safemoon is now compatible with 12 or 24 word seed phrases.
- Connecting may take a while. It's probably best to wait for it to load. Don't exit out.
- Web Swap is live on the Safemoon website. You can swap for V2 tokens on there also by connecting your wallet.
- Charts were restructured and fixed.
- Trading view charts were added.
- Swaps are faster. Custom software had to be built on the back end.
- Wallet Connect is on the to do list, which allows Dapps.
- A feature will be added to cut connections after 30 minutes of no use.
BITMART
- John has been assisting BitMart with a solution to the hack of their 29 trillion Safemoon token wallet. Part of the solution will be BitMart will need to migrate to V2.
NEW EXCHANGES
- We're expecting two new exchanges. One exchange wanted to wait until the V2 launch but it probably won't happen until after the new year just due to the holiday season being as busy as it is. Safemoon is ready to go. The delay is on the exchange side of things.
RECAP OF 2021
- Probably did about 7 years of growth in scaling in about 9 months.
OPERATION PHEONIX
- Dark Moon employees working out of Area 32 are working on a bunch of projects.
- Wind turbines have kind of reached it's limit in terms of what it can do. At the end of the day, it's wind creating kinetic energy. To push it further requires nanotechnology. The Dark Moon team has been working hydrophilic and hydrophobic nanoparticles to increase the efficiency of the wind turbines. This is the first implementation into the macro IoT that Safemoon will be doing and the data they receive will allow them to further innovations in other industries. (Remember... Safemoon is a TECH company. Crypto is just one of the things they do.)
- Developing a true web3 telecommunications network that outperforms what is currently available right now. It will be tied into the Safemoon blockchain. It is a decentralized internet. The hardware aspect is done. They're just working on the blockchain application.
- Blockchain is being built and will be a smarter chain than Binance.
- Blockchain is only one step of everything. Applying everything else to the blockchain is where you get real innovation in the macro IoT infrastructure.
- Operation Pheonix will get it's own moment "later on this month".
PLANS FOR 2022
- Operation Pheonix is a big piece of 2022. Getting wind turbines, nanotechnology and the web3 network either installation beginning or installation complete.
- The Safemoon exchange
- Developing encryption
- Safemoon Connect will be unveiled
- Working on Safemoon rewards smart contract system
- NFTs.
- E-Commerce. V2 was critical for this.
- New partnerships for the ecosystem.
Thank you to SafeMoon for uploading this video and Hummingbird2 for posting it on the board!
Ah. I will do that tonight then!
Thank you for posting that! Still haven't gotten around to watching it yet.
Agreed. It already dipped back to six zeroes and came back up relatively fast. And everyone that held on to their tokens made a good chunk based on both the whale dip and the Bitmart issue. If consolidation happens and we stay where we're at (0.001 range post consolidation) I'll likely keep buying. I was going to stop and go after another crypto but... I'd be happy to buy more Safemoon instead.
Yup! Already recovered from both dips. It just needs to stay where it is for 6 more hours so I can finish topping off... lol
The coinbase / kucoin / trust wallet / pancakeswap route is time consuming but my options on how to buy in CA are relatively limited. CA is a big market. Just like Texas and NYC. If you can't find a way to make it easier for those states they will find other alternatives that will not be as beneficial.
Same. Dropped a little bit on it right now. We'll add more early Thursday morning. Might be my last chance before consolidation.
It's alright. I've never sold any of mine either. XD
Not necessarily. It depends on how the exchange is designed but generally the passphrases or seed phrases are just to get you into your own wallet.
12 or 24 depending on how you set it up, yes sir.
No sir. There is no way to recover a passphrase. Not even the exchange / company / business / etc. can recover it. There's a guy that has something like $250 million of bitcoin locked in a wallet and he can't get to it because he forgot his passphrase.
There are a lot of new exchanges coming out. Safemoon needs to focus on making it easier to buy from their exchange. Bank transfers would be a good start. Adding PayPal would be a huge plus.
To me... that sounds like you used the wrong passphrase and got a different wallet. Maybe you have more than one? The address for the wallet that you were looking for should not have changed. I've never heard of that happening before.
My suggestion is if the above is not the case, contact The Fud Hound (Ryan Arriaga) and see if he is aware of it. His handle is in the intro section of this forum.
It should do it automatically anyway but... better to be safe than sorry.
This.
I can no longer use it at all, but I'm also in California. It's pretty much micromanaged in every way possible.
Not necessarily!
Safemoon being able to afford to launch their own satellite is a bit silly. That's a billion dollar venture. They're likely to either team up with a bunch of other groups OR (and this is more likely in my opinion) they're going to piggy back or rent space on someone else's network. Which means that hypothetically, if THAT system is set up, it could happen relatively fast.
100%.
When using Trust Wallet, make sure that when you're done using DApps you go to settings and click on WalletConnect. If it shows your camera, you've been successfully disconnected. There was something from the Safemoon educators about that being another method for preventing wallet stealing.
Yup. Only question is when and that's probably another one of those things that they're not going to give us a date on.
Thats the plan, as far as anyone knows. John wants to bring internet to Africa so everyone can use our blockchain for everything. Cross border trading, etc.
As long as you don't swap, sell, give out your wallet address, etc... you should be ok. If that's what they meant by disabling it, thats what everyone else seems to be doing too. I'm hoping for the best. Let me know how it goes.
Yes. There have been a lot of people claiming they have had their accounts compromised from a variety of different sources, including dusting attacks. I don't know what the exact number is. If it happened to me, I'd probably be too embarrassed to admit it. I'm sure there are a lot more than anyone knows about. If the scam didn't work, it wouldn't be around anymore.
No one knows when V2 will be launched. It's supposed to be a surprise. But regardless, that scam has your wallet address now. Some posts are saying don't touch what they sent you and you'll be fine. Some are saying disable it. I don't really understand what any of that means.
If it were me... I would probably transfer my tokens to a new wallet. I know there's still that 10% transfer fee... but you're going to get that back over time and it's worth the price to protect yourself.
Out of morbid curiosity, how many "free" tokens did they send you?
Anytime brother.
Nooooooooo... It's not Safemoon. I'm praying you didn't give them anything. Its very likely a scam. Modern day Nigerian prince. "Send me your wallet address and I'll give you free Safemoon!" Even if they give you Safemoon, they can very likely take it back whenever they want... plus whatever else you had in the wallet. They've been casting lines all over Twitter trying to get people to bite.
I warned a bunch of people in my private server about it and we have one lady (HeartlandPicker) that is very proactive about teaching everyone about blockchain and how to protect themselves.
Safety tips for everyone:
1) Don't ever give out your wallet address, with the exception of a vetted exchange like Coinbase, KuCoin, etc.
2) If anyone ever offers you anything for free, it's a trap.
3) Don't keep all your eggs in one basket. Divide it amongst several wallets... just in case one gets compromised.
Yes sir. That is true.
https://www.safemoon.education/sfmv2
I don't know that it's anything to be honest. SpaceX has 1,447 operational satellites in low orbit. I could be wrong but there's insufficient evidence to suggest it has anything to do with Safemoon, short of John coming out and saying it does. Just people speculating.