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Headed for septs (crypto equivalent of 'trips')

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Mokyo Toe   Sunday, 03/04/18 05:14:53 AM
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Headed for septs (crypto equivalent of 'trips')

Before anyone accuses me of taking this too seriously, I assure you all that this is all in fun...

But looking at the chart, the trendline is unmistakeable...

There has been steady erosion in the bid/ask since the coin's launch, and the spread is widening (i.e. the bids are getting whacked)

Today, TradeSatoshi's spread is .00000302BTC/.00000498BTC Last week, you could still dump at .00000520

Bagholders will be trapped. Most will not have accrued enough PLUS1 coinage to meet TradeSatoshi's minimum trade requirement of 0.00000500BTC. This means they will be unable to convert to BTC as this eventually heads for .00000001, which is where almost every forked coin has landed. Right now, those with 1.65562913 PLUS1 coins saved up will be able to convert. Two weeks ago, you only needed 0.8 PLUS1 coins to convert...

I consider myself fortunate to have converted a day or two before that 146 coin dump. I got .00004691 BTC for 11.7 PLUS1. You'll need 15.53 PLUS1 to get that much BTC now...

Meanwhile the cash value of my BTC hoard has risen from $0.44 to $0.53 in the past 2 weeks, a tidy 20% gain. Scoff if you like, but if BTC just maintains this pace forever, my $0.53 will be worth $2.75 in one year and $50,774 in seven years. Yep, do the math (I used a calculator big smile )

PLUS1, however, is destined for .00000001

The one interesting thing to watch for is to see what happens when the faucet runs dry... Will scarcity drive up the price? Will advfn replenish the faucet and depress prices? Will miners keep mining?

I realize there are many defenders of this coin regarding its utility in pinning posts (which I maintain is a dubious utility of zero intrinsic value). I will only say that as the weeks pass, relatively few ihubbers have bothered with it. If ihub remains the only forum with a PLUS1 system in place, I just don't see enough interest to justify even a .00000001 price...

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