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We’ve been here before…nice to see an uptick, but not likely to last. There is simply too much supply, even with all the burn happening.
Long play for sure, like 12 decades long given the supply!
Um, nope…$540B market cap will not happen with SHIB. Ridiculous!
Good grief with this board when SHIB moves even one tick…my goodness, simmer down. We’ve been here 100 times, rinse and repeat, so please quit the hype. When we get back to ATH, perhaps something is starting. Until then, yawn.
Exactly, must burn 5 times the rate just for a chance to experience something material in our lifetime!!!
Well, that’s easy…do the math and see how much has been burned this past year and you might come to your own conclusion as to why there doesn’t seem to be a reduction in circulating supply…we’re talking trillion here. I know it’s obvious, but it bears repeating…that’s one thousand billion. Have we burned a trillion SHIB this past year? Nope, so it doesn’t feel as though the supply is shrinking. Fast forward 40 years…perhaps we’ll begin to notice a reduction and a little movement on price. For now, maybe we can find solace in that we may get back up to the all time high again now and then…a good time to cash out. But the hopes of the .01, leave alone any silly suggestion of higher than that, is all wishful thinking.
Cut the supply by 2/3, and we can begin to talk about a maybe.
That’s a big maybe, even on the penny!!! A weekly burn rate of 100B (we are nowhere near that rate) over the next 20 years burns 104T of what’s in circulation…doubtful enough to push it to .01 as that’s still a market cap of 4.4T.
Sorry to burst bubbles!
That is so exciting…now we only need 125,000 more months of the same burn rate to move this thing. To put it another way, in the month of August, we burned .000008 of the total supply. Outstanding, we are literally right around the corner from major profits!!!
Wow, just think: if we just had 500,000 more like you, we might actually venture here!
How wonderful…this is .00000034 of the total supply! So excited to wait another 50 years with this burn rate to make a dent. That will be right around my 100th birthday, perhaps I will go on a long trip paid for by my SHIB profits. I’ll start planning now!
Exactly! The $1.00 SHIB that many are hoping for will never happen. The top 6300 companies of the world have a combined market cap of $83T. The current SHIB supply is just under 550T. At .001, with current supply, the company would be at a 550B market cap, which is close to the current value of Facebook. So, without significant burn, we won’t see .001 for some time. .01, .1, and certainly $1.00 will never happen unless we burn 95% of current supply. It’s important to be honest!
I’m holding 200M, so I have hopes this will move a little, perhaps after the level of burn we are seeing, we could see .0001 over the course of the next year or two. Beyond that, without 100x burn, we just aren’t being logical if we expect anything beyond .0001.
Merely my opinion…
While it’s nice to see the increase, it’s not even close to enough.
Take the last 24 hours of burn and use that run rate daily for a year and we’ve burned 118B tokens. Multiply that annual burn by another 50 years, and we’ve burned just under 6T tokens…in 50 years!!!
We need new thresholds set:
20x the daily burn gets us to ~2.5T burned annually.
50x the daily burn gets us to ~6T burned annually.
We get to these levels and that’s when this becomes materially interesting and where SHIB can get anywhere close to and sustain a .001 level.
I’ve acquired a healthy supply over the last nine months and I would typically soak up more at these levels, but before I put any more into this, I need to see something more quantifiable than hyperbole!
We need 10x of current SHIB burn rate for this to do anything over the course of the next five years. The growing list of vendors accepting SHIB and even the new platforms to purchase SHIB are doing nothing!
I’m hodling…but I’ve stopped accruing and losing confidence fast.
I also fault some on this board who simply copy and paste the same rote hype day in a day out…ie. SHIBARIUM is going to take over the world, blah, blah, blah. Ugh!
Yes, I’m aware, simply being facetious…but boy, it’d be nice!
Whale wanted:
He/She buys 500T = $13.5B
They immediately burn 75%. Their $13.5B is now worth $3.375B.
But…
Reduced supply by 75% causes SHIB to jump 1000% to .00027 and that same whale is now worth $33.75B. So, a $10B initial hit pays 250% return!
I would wager that a 75% burn would pop this thing up to .01 or higher same day - imagine the flood of people coming aboard due to FOMO. Everyone wins!
Anyone know any billionaires?
I think we are saying the same thing, only differently. I can buy into the fact that there are 6, 7, 8 zero holders amongst us, why not. Lets assume you and I are among them - are you willing to use any of your SHIB to pay for something from the various vendor platforms allowing payment through SHIB? I assume not as you stated clearly, “you’d have to be an idiot to convert SHIB right now to USD”. So, if that’s truly how you feel, then we are on the same side on this argument.
If not, and you are willing to use SHIB to shop, go out on the town, etc…then you don’t know the potential of what you hold.
Regarding potential, I’m merely saying it will take significant burn to reduce the supply enough to get us to trim another zero or two - when it does, I might feel differently about using my SHIB to pay for things.
Until then, I’m holding and loading up when possible.
Yes, of course…if SHIB goes to .01, it’s an entirely different ball game. My pony was simply that the number of vendors taking SHIB as payment currently doesn’t help anything as nobody is going to use the option at these levels.
And we won’t be at a penny for many years yet, unless we see much higher burn levels.
There aren’t enough current holders that bought in at 6 zeros. And you are making my point for me…if we need to trim another zero or two before even you will expend your precious SHIB (understandably so), then you can imagine how others who are in more recently won’t want to part from their SHIB just yet. We need more burn regardless! Once we trim a couple of zeros, I won’t have any issue using my SHIB to pay for things either…but, for now, we wait. We could have 8M vendors taking SHIB, the result is the same.
I really don’t want folks to get the wrong impression about me - I really want SHIB to succeed…so much so that I’m still buying up at these levels. But I do wonder about the link you provided and the direction this is going…
- at these levels, what good does it do for us to have SHIB accepted as a payment vehicle? If SHIB is to be so valuable in the future, who in their right mind would pay for something using SHIB? So, while the vendor payment option may add utility in the future, it does little for us now.
The only real solution for us now is more/faster burn.
Just thinking logically…
As you should!!!
I don’t know who “they are”…I’m just making a statement based on logically looking at market cap. I have just under 200M reasons to want it to get to .01, or higher…but also trying to be realistic.
We are trillions of burn away from .01. This coin will not be worth 5.49T, which is what it would be at .01 under the current supply. In other words, .01 is not possible. Even .001 would be $549B, which also is it possible, at least in the short run. We need increase burn to occur and at a faster pace.
Just my humble opinion.
This is more tied to XRP than BTC - moves are mostly similar, with VTHO following similar patterns as well. Makes sense given how they are aligned. So, I believe once XRP issues are settled, all three will see some great gains. Until then, we wait!
Well this was a good read! Nice to see some logical perspective being applied instead of so much doom and gloom.
My compliments, my friend!
I hope you prove me wrong…while I understand crypto is global and it changes the ballgame a little, you are still taking about 19x from where we are now. That’s a whole lot of movement within 3 - 6 months you’re predicting. Call me a naysayer…I don’t like hyperbole, prefer more logical progression. We shall see!
Ha ha…uh, no!
While that would be nice, that isn’t remotely possible with our current supply…
.001 would put us at a $550B market cap - just not possible!
Holding 150M and very happy about it. Gradually picking up more along the way and working towards 200M.
Hold firm, my friend!
SHIB on the cheap - buy and hodl…Almost 20M for $1k - beautiful!
Came back after quite a break away and saw that there was a bid, so I’m finally out. Good riddance - these guys are crooks and clearly up to the same old tricks to attract newbies and make a few coins!
Now that we have a bid, everyone’s taking advantage of getting out.
What a mess!
Yes, I think that’s about right!
Yes, a good read for sure. This should ultimately move up nicely, so I will sit quietly and watch over the next 6 - 12 months before even thinking of selling. Might even pick up some additional discounted shares at these levels!!!
Ha ha...bless your little heart.
Great, good time to pick up some more!
Don’t believe so, by t only recently bought in and began to follow...its my understanding it’s been set for the 25th for some time, but someone else may have to weigh in.
It’s a beautiful thing!
A little different as this is preemptive to an earnings release by a couple of days. If what is being said is true, and earnings are favorable, and an even more favorable future outlook, it may drop back after a few days run, but new bottom will be much higher than what we’ve been seeing prior.
“Its anticipated that this facility will be ready to commence operations in early 2020.”
Well, let’s see...we are now mid-June, so early 2020 would mean?
Got in today at .272 myself...looking forward to good things here.