Read on Twitter
1/ $TRU @Truebitprotocol Is legit. The contract is legit. The OS is legit. The tokenomics as well. Mint at upper level, burn at 1/8 of mint level.
The radio silence is most likely due to $TRU having to comply with SEC rules and need legal feedback.
The radio silence is most likely due to $TRU having to comply with SEC rules and need legal feedback.
2/ during the weekend a consensus on Twitter developed. Namely that the price would only stay in the narrow range it had been moving in, as a result of the tokenomics.
Consequently, sell offs were deemed impossible. However, the range in which price moves freely was much larger
Consequently, sell offs were deemed impossible. However, the range in which price moves freely was much larger
3/ With the range being minting level (1.41, ETH dependent not USD) and the burning level 1/8 (0.17$).
So now you have a widespread story on Twitter that: A peer to Vitalik, launched a project together with the founder of Solidity/ ETH smart contracts, that solves scalability
So now you have a widespread story on Twitter that: A peer to Vitalik, launched a project together with the founder of Solidity/ ETH smart contracts, that solves scalability
4/ These are still facts and they solve ETH biggest problem, unlocking the supercomputer potential of ETH and lowering gas.
What went wrong is that the public perception about the burning mechanism was WAY off.
By now we went from 1k holders on Friday, to 20k on Sunday.
What went wrong is that the public perception about the burning mechanism was WAY off.
By now we went from 1k holders on Friday, to 20k on Sunday.
5/ These 20K people religiously believe, and rightly so, that they struck gold. An asset backed by the smartest guys in the room, with real word utility whilst being SEC compliant. Above all, it’s also perceived to be immune against pumps and dumps.
A perfect storm is brewing..
A perfect storm is brewing..
6/ This euphoric mass is following the steadily rising graph closely.
Until disaster strikes. A red candle that seems to “break through” the perceived lower limit. “How is this possible, is the burn mechanism not working? It must be broken! -> panic sell.
Until disaster strikes. A red candle that seems to “break through” the perceived lower limit. “How is this possible, is the burn mechanism not working? It must be broken! -> panic sell.
7/ After a 15minute freefall, we reach the bottom of 25c. Is it a rug?!! No, it is not.
The whale who initiated the sell off buys back in. This motherfucker tricked 1000s of people to believe a project as serious as @Truebitprotocol, being developed for YEARS, was a scam.
The whale who initiated the sell off buys back in. This motherfucker tricked 1000s of people to believe a project as serious as @Truebitprotocol, being developed for YEARS, was a scam.
/8 The whale is still holding his now even bigger bag of $TRU. Other whales are still accumulating as we speak.
Unfortunately, many retail investors hurt themselves panic selling, with inexperienced people buying in large, assuming it was a relatively low-risk asset.
Unfortunately, many retail investors hurt themselves panic selling, with inexperienced people buying in large, assuming it was a relatively low-risk asset.
/9 When you combine a project intricate as @Truebitprotocol with radio silence to the retail community, this is the cursed outcome.
But fear not, I have GOOD news for you all. It’s only a matter of time till we’re back at minting price. Why?
But fear not, I have GOOD news for you all. It’s only a matter of time till we’re back at minting price. Why?
/10 There actually is a burning mechanism. But it isn’t triggered by sell orders, it’s triggered by utility.
@Truebitprotocol is a finished project, ready for real world launch. Soon we will hear more and more about the applications and other projects adopting truebit.
@Truebitprotocol is a finished project, ready for real world launch. Soon we will hear more and more about the applications and other projects adopting truebit.
/11 So expect adoption rather sooner than later, as scalability is the biggest problem on ETH.
And yes I hear you think; There’s other scaling solutions as well right? That’s partly true as the use cases can be different for each project.
ETH is a 400B project currently.
And yes I hear you think; There’s other scaling solutions as well right? That’s partly true as the use cases can be different for each project.
ETH is a 400B project currently.
/12 What number will this 400B in a few years? In the trillions? You can be the judge what % of value Truebit will capture by solving the biggest problem ETH faces.
It’s not a question of IF @Truebitprotocol will
be adopted,
but WHEN.
It’s not a question of IF @Truebitprotocol will
be adopted,
but WHEN.
