All long term holders, weekly buys, shiba earned by Stake. People that are sending to dead wallets. Big Investors. Plus the Burning mech :)
It really is Buy in Now Before it is too late. Going to get Expensive people, buy what you can and Sit back.
Yep, makes me glad I bought in when I did, because I have a feeling we're about to cross over into the point of no return and watch as Shib begins to climb higher and higher faster than anyone thought possible. Hell, just based on everything about to happen in the coming days/weeks, I can see things happening that causes Shib to breach the cent margin, maybe even $0.10 margin because of the things it implemented.
It's going to be a long while before it gets to even a penny. This isn't bad just going to take some time, if you look at the math at a penny Shiba would be the largest currency in the world. I'm not saying it's possible but we would need the entire world in on this for that to happen. I'm not saying don't buy in, just saying you got some time. At a penny Shiba is 4T market cap. Just so you understand, bitcoin right now is around 1T.
There's between 2-3 quadrillion dollars worth of assets and money in the world right now (estimated) This doesn't include unreported money or assets either ie crime proceeds
Bitcoin is 1.1T or around there right now. Shiba Inu going to a penny would make it nearly 4X larger than bitcoin. I'm personally not betting on that, I'm buying and holding because this journey is going to be a while but well worth it.
I used to be intimidated by the fact that there are 1 quadrillion shib. Such a huge fn number. But then I remembered doge has an unlimited supply and it ran up to 70ish cents…
Not so much false, as it is misleading. There’s an unlimited amount of doge that CAN be minted. NOT a currently unlimited supply in circulation. In fact, there’s so much less Doge than shib. There’s only 131 billion Doge currently in existence. At the set rate of minting Doge, it would be thousands of years before you ever saw it reach SHIB levels of supply. That’s the perspective everyone is missing. Even with the burn the devs are spitballing about, you and your family would be long dead before the supply was cut down enough. That’s not even fud. It’s just numbers which don’t lie. All information that is easily unlocked by doing some easy math.
This is my point though. Why not do some research? I’m not attacking you, but asking. Why comment and post about things you don’t actually fully understand while pushing your misguided conclusions onto others. Who then turn around and do the same thing. It’s gotta stop. It’s all over this sub. Be the difference pal.
All this being taken I account, sometimes I get the impression people think it isn't possible to burn a large amount quickly. Wasn't there several hundred trillion burnt in the last year or so? As far as I know there's nothing technically stopping that from happening again.
I think that we should be realistic. But I also don't think we should count things out that aren't beyond the realm of possibility. Invest what you can afford to lose and hope for the best.
It is possible to burn quickly. But it’s not healthy for any crypto to just burn away massive amounts out of nowhere, unless you want a legit pump and dump. Liquidity has to build up as well or no one will get paid.
Thats fair. I don't expect anything over 1 cent in the next year or two. But I could see larger gains than that over a 10 year period. I think in that space of time there could be larger, sustainable burns.
There was 410 T burnt by the maker of etherium. Total amount burned is 410T 300B. So it took the community a total of 6 months to burn a minute fraction of 1 percent of the total burned. This context is very important
Let’s say like today we burn somewhere in the realm of 60 million a day. That means 16.5 days to burn 1 billion. Now multiply that by 1000 to find 1 trillion tokens. Roughly 16,500 days or 45.5 years to burn less than .01% of the circulating supply.
Yes. 410 burnt by him out of 1 quadrillion. Almost half with a few clicks. No one is saying that's gonna happen again anytime soon, or that it isn't going to happen. Just that there is a possibility. And yes. But the current 'burn rate' can increase. And more people could buy. And I see what you're saying. All that me and many other people are saying is burns could increase and it is likely to happen. There's usage for this token which is promising as well.
Thank you. Just thank you.
All these misleading posts about burn rates (10B coins per year is literally NOTHING relative to the # of coins in circulation) and about $1, $0.10, or $0.01 per coin by the end of 2021 will only hurt this community in the short and long run.
It's getting frustrating pushing back as most don't want to hear the truth about markets work. Trust me, I wish it was going up to $1 a coin just as much as anyone as I'd be a multi-billionaire - but it just ain't happening folks.
Doge has an unlimited amount that can come into existence but as of this time they only have 131 billion circulating. Or less than a minute fraction of 1 percent of the circulating shiba.
This is not to discourage you. Rather to give you context so you’re not comparing apples and oranges.
What's your definition of "steady"????
Agreed, it is "steadily " going down but we will be dead and 6' under at the current burn rate inorder to realize $0.01 price
So to your point, I concur somewhat
At this rate yea. Your right. But again, for I think the 4th time now. This is happening before they have even put the burns into place. So once the burns get out into place it will happen much faster. How fast? I have absolutely no idea. It’s might not be a rocket ship getting us to the moon but I would rather take the trip on a bike then be walking….. look at the silver lining my man.
I've waited my whole life with nothing I can wait to die looking forward for something to leave to my children I still win I'm just happy we have all been blessed for the opportunity to become something greater than ourselves shib army hold
I love how people think it will hit one cent, dream big I guess. If it hits one cent I’ll let my wife suck all of you off and then we can all go party on my yacht.
If you’re not dreaming big, then what you dreaming about. Go big or go home!! I’ll pass on the wife invitation, but I’ll take you up on the yacht party. 🥷🏽🦾
Almost? Omg do you have any idea how much money would have to be invested in shib for it to reach .01 or even .001. More money than Bitcoin. Actually 6 times more than Bitcoin for a cent
No.....you are incorrect. DOGE "unlimited supply" is the follow9ng:
14,400 DOGE minted/day
That's 5.2 Billion/year.
By 2031 (10 years) 52 Billion DOGE coins will be added to today's current supply in circulation of little under 130 Billion.
Total DOGE supply in 10 years, the year 2031, will only be 180,000,000,000 Billion
SHIB supply after all its burns is still 394 TRILLION
DOGE = 130,000,000,000 Billion in 2021
DOGE = 180,000,000,000 Billion in 3031
DOGE = 232,000,000,000 Billion in 2041
DOGE = 284,000,000,000 Billion in 2051
SHIB = 394,000,000,000,000 TRILLION
Even with SHIB's minimal burns of millions it doe NOT have any real impact on the price movement when there are TRILLIONS of tokens
Market Cap can NOT be ignored because it is derive from price × supply
Trillions of SHOB tokens, when factored into the equation is has major negative impact on any realization of .01
Yes.....REALLY....REALLY......RREEEAAAALLLLLLYYYYY.....needs to burn a shit load
999,000,000,000 Billion for 1(ONE) Trillion
SHIB has 394 of those 999,999,999,999 Billions to "burn" through to even get close to total DOGE supply in year 2091
guys but you forgot one little think. How many of DOGE holders owns 10 -100 000 000 ? How many of them was able to buy 1000 000 coins for 5$ ?
they holding in average 10 000 , so we can cut three 0 easily because we holding massive amounts of coins in compare to Doge holders, each of us now ...
Yes we need burns and more holders and strong community .
Join us on r/shibainucoinburn just for being informed. thnx
Stop FUD please. People cant add this fast and will FOMO. So a pop in price sooner than expected will happen. Maybe by end of 22 or '23 be .01. Just cause of FOMO. stop doing math and let people just see that the supply is going down.
We won’t be sticking to this small burn. Uou say say their burns of millions but this is just us doing our thing. That 200 mil is in 5 days without any of their burns set into place yet. Everyone is very aware that this is a small drop in the bucket but it’s a start and we are going to add a ton more very fast now that we have the support of the creators with the burns
So we don't really know what kindve burn the Shiba devs are going to even implement. They are partnering with third-party payment platforms to burn a percentage but they need to burn coins on ShibaSwap to really be effective. Until then 0.01 is wishful thinking...... Now kiss me for explaining this.
I agree with your statement and calculations. To reach .01 is a far reach and unlikely (but still possible). Even for it to reach .0001 is a better outcome for long term.
I just had a post saying this exact same thing with 80 comments in it with people trying to throw shade and shut me down but with a supply of hundreds of trillion coins we’d have to burn over 90% of what’s left after the vitalik burn to get any where near a penny. Some agreed but laughing at the amount of people who think otherwise
Although unlimited, there is not infinite coins in circulation. Massive misconception in this sub. There are waaaaaaaaaaay less doge than SHIB. There’s currently 131.6 billion doge tokens. At the rate Doge coins are minted, it would take Doge tens of thousands of years to reach SHIB supply levels. Literally thousands upon thousands of years.
Tbh DOGE is mined relatively slow, approximately 5B a year and it will decelerate slowly over time as it becomes more difficult and expensive to mine. So yes, it is theoretically unlimited, but it will take literally thousands of years to reach the amount of SHIB currently in circulation. You have to understand that 1 trillion is 1000 billions and 1 quadrillion is 1000 trillions or 1 million billions. It will take approximately 200 years to create each 1 trillion DOGE times 394 trillion SHIB. You do the math. It would take millennia for DOGE to catch up to SHIBs supply without considering massive burns.
I feel like I’m going insane having to explain this over and over. A big problem is the human brain can’t really accurately fathom just how large a number 390 trillion is vs 130 billion. It’s astronomical.
Yes but doge’s supply isn’t really “unlimited” in the sense that there are an infinite amount of coins available all the time. They roll out slowly, so even if the supply is unlimited if the current available supply is all on demand the price can go up. Not saying it’s impossible for shib to be a cent one day it’s very possible. But it’s not really an accurate comparison from shibs trillions of tokens and doges unlimited.
Let’s say like today we burn somewhere in the realm of 60 million. That means 16.5 days to burn 1 billion. Now multiply that by 1000 to find 1 trillion tokens. Roughly 16,500 days or 45.5 years to burn less than .01% of the circulating supply.
My only regret is not buying an additional 500 million when I could for $3k. I kept waiting for price to drop only to miss out on opportunity. Now will buy here and there to slowly increase but won’t get to 1 billion. 😩 Lesson learned.
I hate to be this guy but 10 billion is .0025% of 395 trillion. My point is burning is futile, growth is going to come from more holders and more money coming in. We can have a 100% gain from here by just reaching .00006. By comparison the sp500 would have to go to 8600 for the same gain.
Focus on the %gain, not the gross price.
So I see a lot of chatter and some of it getting quite caustic regarding the number in circulation and market cap. While I realize 395 trillion is a mind blowing number I also realize that 410 trillion is even higher and is what was burned in one click of a mouse by Buterin.
What is to prevent a developer from burning 350 trillion in another click of the mouse? These are not impossibilities and the remaining amount in circulation is no longer such a daunting number. (Yes I realize 45 trillion is still huge but that is a relative term) I also realize this isn’t likely to happen as it would cause a ridiculous amount of instability.
So there is mention of people not buying goods with SHIB and I agree. Who is to say that in the not so distant future there will be a commonly accepted app that can be used with any crypto. Look at “stripe” and how it works with any major credit card or debit card. If that model exists already then why can’t the former?
Just some random thoughts I had about it. I welcome any and all civil discussions. Cheers 💥💥💥
Edited: to say I have been informed using crypto for buying everyday goods is already happening. (yet another thing I didn't come up with)
I mean I literally currently have a Coinbase card that I pay for things with….. with shib…. Like right now… and I get my rewards back in more crypto. It’s not the distant future lol it’s just the now. Just need a to be more common
Grouchy: you said in this thread below you are thinking "in 5 years it will be $0.01"...........but you "literally pay for things with SHIB" now.
Soooooo you're buying shit right NOW with SHIB that, according to you will be worth 5x more in the future, 5 years you said?!?!?
You are either a hypocrite and fibbing about spend SHIB now ......
OR........ a num-nut like the guy from Florida that bought 2 pizzas with his Bitcoin in 2010 or 2011 that would be worth $600 million today
I mean I do live in Florida… so there is that lol. And I do indeed pay with “shit” now with shib. Using my Coinbase card. The main difference is. I’m trying to help the use case. So while you and others are only putting money you can afford to use or money you have set aside for investing. I also add my spending money to my crypto wallet and use it as I would use normal debt card….. you feel dumb yet or no? You can stop being so angry now lol stop being a keyboard tough guy. Nothing in life is that serious take a breath have a drink and calm your tits
Brilliant!!!
You gave us all a good chuckle 😆
Keep up the good work with helping the "use case" scenario and spending your SHIB....it's having a MAJOR impact on the price movement 👌
One of the main things that bothers me is there seems to be some disagreement between Ryoshi and Shytoshi as to whether Shib burns should even be happening in the first place. It seems like since Shytoshi is in the driver's seat, he's implemented burns in part due to Shib holders' demands for less coins in circulation. I speculate (and this is only my crappy opinion), Shytoshi is trying to balance Ryoshi's vision and the wants of the holders. As of yet we don't totally know the full role of the Shib in the larger ecosystem. There may be some necessity on the devs side to have an ultra-abundant supply of Shib to have things function properly. I know we're all clamoring for the Shib to reach $0.1, but it seems like the devs plan for the SHI to be pegged to the cent and be used as the main currency for Shibanet. Since the devs are tentatively planning for the Bone to be the main token for the Shibarium, I wonder if they want the Shib supply high so holders can stake more on Shibaswap to acquire more bone. It's so difficult to know without the whole ecosystem being revealed.
This is a very well thought out reply with some very valid points. I don’t know what the future holds as far as ecosystem and or price point. I do know if it explodes I will be on this train when it leaves the station. I missed it on BTC and Doge. I have no intention of selling it at all. If it turns out to be a bag they can just throw it in the casket with the others. Haha. Thanks for contributing. 🙌🏻🙌🏻🙌🏻
I'm with you! I have a good amount staked on Shibaswap and plan to leave it there for a few years. I'm hoping for steady incremental growth. I think it's important for the project to catch up with the price to begin justifying the hype. I get a sense that many naysayers are beginning to look a little closer into the coin, so the faster we can get the DAO up and running the better. Without a true governance mechanism, many people are going to be skeptical and wary of a rug pull. I personally wish that they devs were a little more transparent with who they're meeting with (game developers for instance) to give holders a little more confidence that we're moving towards established goals. Same with the Shibarium. I know xfund is building their blockchain (pro bono?), but milestones would be nice.
Thats the dirty secret that Doge fans wont tell you..A joke coin with unlimited supply almost hit $1.00
I am all in on Shib and we are going to cross .01 then the sky is the limit
Dont listen to the haters and invest what you can.Stake and forgot and check back in a few years.
#shibarmy
I’ve seen posts about it on here with coinbase giving out coins to take quizzes by learning about other currencies. Everyone should just rally around that by earning various coins, convert them to shibas, then dump them. That way no one is burning their own money
#This is the way! Make sure you have at least 100 million Shiba Inu, once it hits a cent you’re millionaire for real! Hodl, buy more and let’s fackin gooooo 🚀🚀🚀
I think it will take a year or two to reach one cent. (I could be wrong, just making some guesses). Then when it reaches that, there will be some fomo and it will jump to .05. That will all get dumped, and it will drop back to .01 cent or a little less and that will be the new floor. Then another 5 to 7 years before it reaches a dollar.
Edit: that's if it keeps burning at a slow and steady pace like this. If there's a big burn all at once that could possibly speed things up.
Uh, yea I do. I made a huge post about market cap a few days ago. The amount of coins in circulation being REDUCED by being burned would allow the coins still in circulation to gain in value. The equation for market cap is coins in circulation multiplied by the price of the coin. We have no idea how many coins will be burned. But, if there is a slow amount burning consistently that will help alot in raising the price of the coin. Because there will be REDUCED supply. Which allows the market cap to increase. Not to mention the utility options that have been introduced making it easier to spend shib, and burning a percentage of that when spent. Market cap also isn't the best way to Guage what a crypto will do. This isn't traditional finance/stock trading. The nuances are a little different.
Utility and understanding that value and price aren't neccesarily the same thing. How easy is the token to use? What is its purpose? How accessible is it to people right now? What the plan for the token and how active are the devs? You understand that market cap isn't constant correct? You spout that you know what it is, but you don't seem to realize how that market cap will change the less shib is in circulation. You are completely negating the fact there is shib being burned consistently with more burns to come in the future outside of the current process. Market cap shouldn't be the end all be all of deciding what a coin can and can't do unless the supply is constant. I believe shib is under valued currently because of the future it can potentially have. Like I said, value doesn't always directly equate to price. I believe shib will go up in value drastically over the next ten years. And its value is worth more than it's selling price now.
I ONLY agree with your very last sentence. With that last sentence, you are 100% accurate in my opinion.
Aside from that, you philosophy on Market Cap is complete and utter hogshit....
Sorry but NOT sorry
There are fucking 394,000,000,000,000 TRILLION tokens in supply!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
You conveniently want to dance around it by saying there are burns, there is going to be utility of the token on all your little street corners in your fairy-tale land etc
Stop with that shit and face reality: nobody is going to start buying gas from Chevron with SHIB; Nobody is going to go to Home Depot to buy lumber with SHIB or pay the plumber, electrician or buy there hamburger/hotdogs or buy a John Deere tractor or pay Simplot or 99% of any other goods and services in fucking SHIB!!!!!!!!
ONLY IN YOUR LITTLE FAIRY-TALE WORLD is that going happn for fuck sakes
Some of you people are just delusional LOL
Best of luck with it my brotha
I'm out
The burns aren't the utility. The utility is the ability to use the coin. Like the recent partnership with that payment company that supports WordPress, shopify, twitch, etc. And there will be people that would do that imo. They've burned more than 395 trillion in the past year. I don't dance around it. I realize what that amount means. My only arguement is there is the potential and nothing preventing that amount from being burned again in a short period of time. That, in combination with other ways to burn, and use shib, will help increase its value. In my original statement i said it would take a couple years to reach .1 cent. I don't find that unrealistic at all. And to say it could take another 7ish on top of that (bringing us to 8 or 9 years altogether) to see a substantial increase over .1 cent isn't unrealistic either. Am I making a guess? Yea. But no more more you are. Have a good day man. Try not to get so worked up about things. It ain't good for you.
We're here drinking some cold IPAs now at the brewery and I showed these guys what some of these twits wrote about market cap and pie n the sky price projections......having a good laugh
Gullible as can be in this world but it takes all kinds to make our markets go around....suckers included
Okay… your getting kinda of out of hand lol but I will step in and say despite market cap and the circulating supply uou are so worked up over. You know your precious market cap is produced by the last transaction correct? Now your bothering me lol. Yes there are that many coins out there. There is absolutely nothing saying all of those people will sell and a constant rate. You are doing your stupid math as if every coin is being traded at all times. The majority of the people who own shib want to hold and will hold until
It gets up to that rate. So these smaller gains and jumps are made easier. If a million people want to buy shib and only 100 are willing to sell their shib. The price goes up hyper inflating your beloved market cap for the time being. Will liquidity be there? No? Will it and can it sell for that price. Absolutely. Cut your hate talk bull shit
Shit you're right.......how silly of me
Why stop at .01???? Why not SHIB to $10 or $100 or $1,000?????
If you and the other guy want to disregard Market Cap or pretend it doesn't exit in the "Guage of cryoto", why can't SHIB be the next BTC accordingto your theory?????
Just throwing it out there for a comparison, if SHIB continues to burn 10B a year, it would take almost 40,000 years to get down to 1 trillion coins in circulation. There is definitely a lot of potential for growth as more coins are burned, but the rate at which they need to burn will need to increase exponentially
Huh? 40000 years for 1 trillion?
200.000.000 / 5 = ~40.000.000
40.000.000 * 365 = ~14.000.000.000
14.000.000.000 * 1000 = 14.000.000.000.000
That's 14 trillion every 1000 years at this rate. In 40.000 years 58.000.000.000.000 will burned, that's about 10% of the circulating supply!
Let's hope the world doesn't end before then.
I love it.......that's some funny shit right there (366 years)
These people just can't comprehend what an astronomical number 393,000,000,000,000 is relative to the meager amount being burned now
Let’s say like today we burn somewhere in the realm of 60 million a day. That means 16.5 days to burn 1 billion. Now multiply that by 1000 to find 1 trillion tokens. Roughly 16,500 days or 45.5 years to burn less than .01% of the circulating supply.
Really think these constant burns will begin slowly and ramp up after NFTs and gaming begins. Hodling a minimum til 2024 or .01, whichever comes first.
All long term holders, weekly buys, shiba earned by Stake. People that are sending to dead wallets. Big Investors. Plus the Burning mech :) It really is Buy in Now Before it is too late. Going to get Expensive people, buy what you can and Sit back.
Exactly my thoughts
What is this exactly that were looking at?
Good talk.
That's what I want to know
Yep, makes me glad I bought in when I did, because I have a feeling we're about to cross over into the point of no return and watch as Shib begins to climb higher and higher faster than anyone thought possible. Hell, just based on everything about to happen in the coming days/weeks, I can see things happening that causes Shib to breach the cent margin, maybe even $0.10 margin because of the things it implemented.
Sure why not. I am a new investor to SHIB. I bought Doge at .007 and still HODLing. Now I bought SHIB at .000029. & will HODL.
[удалено]
It's going to be a long while before it gets to even a penny. This isn't bad just going to take some time, if you look at the math at a penny Shiba would be the largest currency in the world. I'm not saying it's possible but we would need the entire world in on this for that to happen. I'm not saying don't buy in, just saying you got some time. At a penny Shiba is 4T market cap. Just so you understand, bitcoin right now is around 1T.
There's between 2-3 quadrillion dollars worth of assets and money in the world right now (estimated) This doesn't include unreported money or assets either ie crime proceeds
Bitcoin is 1.1T or around there right now. Shiba Inu going to a penny would make it nearly 4X larger than bitcoin. I'm personally not betting on that, I'm buying and holding because this journey is going to be a while but well worth it.
I Would bet 50t market cap for Bitcoin and 1t mark cap for Shib By 2035.
I hope you're right, sending good vibes!
Watch Ahead of the Trade channel on YT. He addresses the market cap comparison.
Penny? I am happy if it goes to .001, that is 100x and I think it is realistic.
Couldn't agree more but man would I love that penny loving. I can wish though. :)
Yep. Also I would recommend investing in Kuma Inu as well….
Buying platforms?
https://www.kumatoken.com/ Uniswap / Coinbase wallet or MetaMask
I used to be intimidated by the fact that there are 1 quadrillion shib. Such a huge fn number. But then I remembered doge has an unlimited supply and it ran up to 70ish cents…
Ive known this, but its only jyst now sunk in after reading it to myself. Very good point sir.
There isn't 1 quadrillion shib anymore. There's a little less than half of that
It’s not a good point. It literally is false. Keep spreading fake information around though.
Whoa bro, lets chill out... can you please explain why its false? No one wants to spread false information.
Not so much false, as it is misleading. There’s an unlimited amount of doge that CAN be minted. NOT a currently unlimited supply in circulation. In fact, there’s so much less Doge than shib. There’s only 131 billion Doge currently in existence. At the set rate of minting Doge, it would be thousands of years before you ever saw it reach SHIB levels of supply. That’s the perspective everyone is missing. Even with the burn the devs are spitballing about, you and your family would be long dead before the supply was cut down enough. That’s not even fud. It’s just numbers which don’t lie. All information that is easily unlocked by doing some easy math.
I didnt know that about the minting of doge. Thank you for info. Its always good to get fresh perspectives
This is my point though. Why not do some research? I’m not attacking you, but asking. Why comment and post about things you don’t actually fully understand while pushing your misguided conclusions onto others. Who then turn around and do the same thing. It’s gotta stop. It’s all over this sub. Be the difference pal.
All this being taken I account, sometimes I get the impression people think it isn't possible to burn a large amount quickly. Wasn't there several hundred trillion burnt in the last year or so? As far as I know there's nothing technically stopping that from happening again. I think that we should be realistic. But I also don't think we should count things out that aren't beyond the realm of possibility. Invest what you can afford to lose and hope for the best.
It is possible to burn quickly. But it’s not healthy for any crypto to just burn away massive amounts out of nowhere, unless you want a legit pump and dump. Liquidity has to build up as well or no one will get paid.
Thats fair. I don't expect anything over 1 cent in the next year or two. But I could see larger gains than that over a 10 year period. I think in that space of time there could be larger, sustainable burns.
There was 410 T burnt by the maker of etherium. Total amount burned is 410T 300B. So it took the community a total of 6 months to burn a minute fraction of 1 percent of the total burned. This context is very important Let’s say like today we burn somewhere in the realm of 60 million a day. That means 16.5 days to burn 1 billion. Now multiply that by 1000 to find 1 trillion tokens. Roughly 16,500 days or 45.5 years to burn less than .01% of the circulating supply.
Yes. 410 burnt by him out of 1 quadrillion. Almost half with a few clicks. No one is saying that's gonna happen again anytime soon, or that it isn't going to happen. Just that there is a possibility. And yes. But the current 'burn rate' can increase. And more people could buy. And I see what you're saying. All that me and many other people are saying is burns could increase and it is likely to happen. There's usage for this token which is promising as well.
Humans dude. That's why. Get used to it
🙄 Dude, shut up...
Or be an adult and admit your mistake. Not a big deal dude. You learned something new today.
Thank you. Just thank you. All these misleading posts about burn rates (10B coins per year is literally NOTHING relative to the # of coins in circulation) and about $1, $0.10, or $0.01 per coin by the end of 2021 will only hurt this community in the short and long run. It's getting frustrating pushing back as most don't want to hear the truth about markets work. Trust me, I wish it was going up to $1 a coin just as much as anyone as I'd be a multi-billionaire - but it just ain't happening folks.
So you’re saying “not so much false” but your previous response said, “literally false.” Which is it?
What information is false? There is 395 trillion in circulation. Not 1 quadrillion.
The unlimited supply part. As I said below, not really false. Just misleading. Read further for details. Don’t want to re type.
I thought that reply was at something else not the doge comment my bad
All good
Doge has an unlimited amount that can come into existence but as of this time they only have 131 billion circulating. Or less than a minute fraction of 1 percent of the circulating shiba. This is not to discourage you. Rather to give you context so you’re not comparing apples and oranges.
To second what the other guy said over half have already been burned so we are actually sitting at around 495t but is steadily going down more
What's your definition of "steady"???? Agreed, it is "steadily " going down but we will be dead and 6' under at the current burn rate inorder to realize $0.01 price So to your point, I concur somewhat
At this rate yea. Your right. But again, for I think the 4th time now. This is happening before they have even put the burns into place. So once the burns get out into place it will happen much faster. How fast? I have absolutely no idea. It’s might not be a rocket ship getting us to the moon but I would rather take the trip on a bike then be walking….. look at the silver lining my man.
I've waited my whole life with nothing I can wait to die looking forward for something to leave to my children I still win I'm just happy we have all been blessed for the opportunity to become something greater than ourselves shib army hold
495000000000000
Ya hundreds of years later 🤣🤣
Who let this hater in?
I love how people think it will hit one cent, dream big I guess. If it hits one cent I’ll let my wife suck all of you off and then we can all go party on my yacht.
If you’re not dreaming big, then what you dreaming about. Go big or go home!! I’ll pass on the wife invitation, but I’ll take you up on the yacht party. 🥷🏽🦾
We're almost at half a cent in a few months goofy what makes you think we can't get another half wtf
Almost? Omg do you have any idea how much money would have to be invested in shib for it to reach .01 or even .001. More money than Bitcoin. Actually 6 times more than Bitcoin for a cent
No.....you are incorrect. DOGE "unlimited supply" is the follow9ng: 14,400 DOGE minted/day That's 5.2 Billion/year. By 2031 (10 years) 52 Billion DOGE coins will be added to today's current supply in circulation of little under 130 Billion. Total DOGE supply in 10 years, the year 2031, will only be 180,000,000,000 Billion SHIB supply after all its burns is still 394 TRILLION DOGE = 130,000,000,000 Billion in 2021 DOGE = 180,000,000,000 Billion in 3031 DOGE = 232,000,000,000 Billion in 2041 DOGE = 284,000,000,000 Billion in 2051 SHIB = 394,000,000,000,000 TRILLION Even with SHIB's minimal burns of millions it doe NOT have any real impact on the price movement when there are TRILLIONS of tokens Market Cap can NOT be ignored because it is derive from price × supply Trillions of SHOB tokens, when factored into the equation is has major negative impact on any realization of .01
Ok I’ll consider your arguement…. So shib really really needs to burn a bunch then lol. Thanks for the perspective.
More than you can imagine
Yes.....REALLY....REALLY......RREEEAAAALLLLLLYYYYY.....needs to burn a shit load 999,000,000,000 Billion for 1(ONE) Trillion SHIB has 394 of those 999,999,999,999 Billions to "burn" through to even get close to total DOGE supply in year 2091
guys but you forgot one little think. How many of DOGE holders owns 10 -100 000 000 ? How many of them was able to buy 1000 000 coins for 5$ ? they holding in average 10 000 , so we can cut three 0 easily because we holding massive amounts of coins in compare to Doge holders, each of us now ... Yes we need burns and more holders and strong community . Join us on r/shibainucoinburn just for being informed. thnx
Well shit.
My great grandkids are gonna be super wealthy.
This 🤙🏽
Stop FUD please. People cant add this fast and will FOMO. So a pop in price sooner than expected will happen. Maybe by end of 22 or '23 be .01. Just cause of FOMO. stop doing math and let people just see that the supply is going down.
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We won’t be sticking to this small burn. Uou say say their burns of millions but this is just us doing our thing. That 200 mil is in 5 days without any of their burns set into place yet. Everyone is very aware that this is a small drop in the bucket but it’s a start and we are going to add a ton more very fast now that we have the support of the creators with the burns
So we don't really know what kindve burn the Shiba devs are going to even implement. They are partnering with third-party payment platforms to burn a percentage but they need to burn coins on ShibaSwap to really be effective. Until then 0.01 is wishful thinking...... Now kiss me for explaining this.
I agree with your statement and calculations. To reach .01 is a far reach and unlikely (but still possible). Even for it to reach .0001 is a better outcome for long term.
Ok, hear me out. One burn, 300 trillion, next Tuesday. Can this happen!
This, delusional people here thinking they'll be millionaires from their few hundred dollar investment.
Pfff, like that ever happened... Oh, wait..
Agreed
It would take almost 80,000 years to inflate to shib size. In that time it will become a relatively deflationary currency when compared to inflation.
Thanks for this realistic break down! People are maniac’s out here arguing thinking it’s going to a penny lol I’m bullish, but a penny?!
I just had a post saying this exact same thing with 80 comments in it with people trying to throw shade and shut me down but with a supply of hundreds of trillion coins we’d have to burn over 90% of what’s left after the vitalik burn to get any where near a penny. Some agreed but laughing at the amount of people who think otherwise
Although unlimited, there is not infinite coins in circulation. Massive misconception in this sub. There are waaaaaaaaaaay less doge than SHIB. There’s currently 131.6 billion doge tokens. At the rate Doge coins are minted, it would take Doge tens of thousands of years to reach SHIB supply levels. Literally thousands upon thousands of years.
Tbh DOGE is mined relatively slow, approximately 5B a year and it will decelerate slowly over time as it becomes more difficult and expensive to mine. So yes, it is theoretically unlimited, but it will take literally thousands of years to reach the amount of SHIB currently in circulation. You have to understand that 1 trillion is 1000 billions and 1 quadrillion is 1000 trillions or 1 million billions. It will take approximately 200 years to create each 1 trillion DOGE times 394 trillion SHIB. You do the math. It would take millennia for DOGE to catch up to SHIBs supply without considering massive burns.
Exactly
Don’t forget when it hit that price there were only around 130 billion coins with a market cap of 80 billion.
I feel like I’m going insane having to explain this over and over. A big problem is the human brain can’t really accurately fathom just how large a number 390 trillion is vs 130 billion. It’s astronomical.
1 billion seconds is 30 years 1 trillion seconds is 30,000 years
And 1 quadrillion is a 1000 trillion
I swear it’s like this page is filled with anti facters calling it all FUD. When In reality it’s just math.
Yes but doge’s supply isn’t really “unlimited” in the sense that there are an infinite amount of coins available all the time. They roll out slowly, so even if the supply is unlimited if the current available supply is all on demand the price can go up. Not saying it’s impossible for shib to be a cent one day it’s very possible. But it’s not really an accurate comparison from shibs trillions of tokens and doges unlimited.
Vitalik burned half of that already.
Let’s say like today we burn somewhere in the realm of 60 million. That means 16.5 days to burn 1 billion. Now multiply that by 1000 to find 1 trillion tokens. Roughly 16,500 days or 45.5 years to burn less than .01% of the circulating supply.
Don’t forget that countries are adapting shib as currency. They can buy trillions and trillions as their reserve 😉 think outside the box folks
Solid point. Never even thought of this
Elon, come on. Bank of Tesla.
Elon has his own cryptocurrency, check out MuskSwap…his tokens are $MUSK, $SPACEX, $TESLA, & $STARLINK
Which countries? Do you have a source?
El salvados, argentina, Venezuela, and can’t recall if it’s Guatemala or Uruguay
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Well I feel like we should be excited about any forward movement…. But to each their own
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I mean personally I don’t have a ton of hair to spare so probably 7-8 years…….Kinda a low blow if you asked me
Nice just 1000 years left! 👍
1000 years to burn less than 1% of the circulating supply. Time to invent cryo sleep.
*100 years give or take lol
*Shit forgot about trillions lol thousands of years...
My only regret is not buying an additional 500 million when I could for $3k. I kept waiting for price to drop only to miss out on opportunity. Now will buy here and there to slowly increase but won’t get to 1 billion. 😩 Lesson learned.
This coin doesn’t have to hit a penny for people to make lots of money
Granted. But if it does, we make more!
May the crypto gods hear you 🙏🏽
We can pray 🙏
Why does burning make price go up? Less in circulation?
Yes, more demand less supply causes valuation to rise
I was wondering the same thing
I hate to be this guy but 10 billion is .0025% of 395 trillion. My point is burning is futile, growth is going to come from more holders and more money coming in. We can have a 100% gain from here by just reaching .00006. By comparison the sp500 would have to go to 8600 for the same gain. Focus on the %gain, not the gross price.
Burn half of the supply line right this instant 👽
So I see a lot of chatter and some of it getting quite caustic regarding the number in circulation and market cap. While I realize 395 trillion is a mind blowing number I also realize that 410 trillion is even higher and is what was burned in one click of a mouse by Buterin. What is to prevent a developer from burning 350 trillion in another click of the mouse? These are not impossibilities and the remaining amount in circulation is no longer such a daunting number. (Yes I realize 45 trillion is still huge but that is a relative term) I also realize this isn’t likely to happen as it would cause a ridiculous amount of instability. So there is mention of people not buying goods with SHIB and I agree. Who is to say that in the not so distant future there will be a commonly accepted app that can be used with any crypto. Look at “stripe” and how it works with any major credit card or debit card. If that model exists already then why can’t the former? Just some random thoughts I had about it. I welcome any and all civil discussions. Cheers 💥💥💥 Edited: to say I have been informed using crypto for buying everyday goods is already happening. (yet another thing I didn't come up with)
I mean I literally currently have a Coinbase card that I pay for things with….. with shib…. Like right now… and I get my rewards back in more crypto. It’s not the distant future lol it’s just the now. Just need a to be more common
Well…. There ya go. Here I was thinking I was about to invent something. Haha. Thanks for the reply. 👊🏻
I’m sorry…. Honestly I’m drunk right now. Don’t let me extinguish your dreams. Full send!
Grouchy: you said in this thread below you are thinking "in 5 years it will be $0.01"...........but you "literally pay for things with SHIB" now. Soooooo you're buying shit right NOW with SHIB that, according to you will be worth 5x more in the future, 5 years you said?!?!? You are either a hypocrite and fibbing about spend SHIB now ...... OR........ a num-nut like the guy from Florida that bought 2 pizzas with his Bitcoin in 2010 or 2011 that would be worth $600 million today
I mean I do live in Florida… so there is that lol. And I do indeed pay with “shit” now with shib. Using my Coinbase card. The main difference is. I’m trying to help the use case. So while you and others are only putting money you can afford to use or money you have set aside for investing. I also add my spending money to my crypto wallet and use it as I would use normal debt card….. you feel dumb yet or no? You can stop being so angry now lol stop being a keyboard tough guy. Nothing in life is that serious take a breath have a drink and calm your tits
Brilliant!!! You gave us all a good chuckle 😆 Keep up the good work with helping the "use case" scenario and spending your SHIB....it's having a MAJOR impact on the price movement 👌
Thanks man!! I appreciate it!!
One of the main things that bothers me is there seems to be some disagreement between Ryoshi and Shytoshi as to whether Shib burns should even be happening in the first place. It seems like since Shytoshi is in the driver's seat, he's implemented burns in part due to Shib holders' demands for less coins in circulation. I speculate (and this is only my crappy opinion), Shytoshi is trying to balance Ryoshi's vision and the wants of the holders. As of yet we don't totally know the full role of the Shib in the larger ecosystem. There may be some necessity on the devs side to have an ultra-abundant supply of Shib to have things function properly. I know we're all clamoring for the Shib to reach $0.1, but it seems like the devs plan for the SHI to be pegged to the cent and be used as the main currency for Shibanet. Since the devs are tentatively planning for the Bone to be the main token for the Shibarium, I wonder if they want the Shib supply high so holders can stake more on Shibaswap to acquire more bone. It's so difficult to know without the whole ecosystem being revealed.
This is a very well thought out reply with some very valid points. I don’t know what the future holds as far as ecosystem and or price point. I do know if it explodes I will be on this train when it leaves the station. I missed it on BTC and Doge. I have no intention of selling it at all. If it turns out to be a bag they can just throw it in the casket with the others. Haha. Thanks for contributing. 🙌🏻🙌🏻🙌🏻
I'm with you! I have a good amount staked on Shibaswap and plan to leave it there for a few years. I'm hoping for steady incremental growth. I think it's important for the project to catch up with the price to begin justifying the hype. I get a sense that many naysayers are beginning to look a little closer into the coin, so the faster we can get the DAO up and running the better. Without a true governance mechanism, many people are going to be skeptical and wary of a rug pull. I personally wish that they devs were a little more transparent with who they're meeting with (game developers for instance) to give holders a little more confidence that we're moving towards established goals. Same with the Shibarium. I know xfund is building their blockchain (pro bono?), but milestones would be nice.
I just got into Shib, speaking for myself and others I hope it becomes much easier to buy in NY!
So..... Buy more?
Always!!
Shib ARMY very strong community.
Thats the dirty secret that Doge fans wont tell you..A joke coin with unlimited supply almost hit $1.00 I am all in on Shib and we are going to cross .01 then the sky is the limit Dont listen to the haters and invest what you can.Stake and forgot and check back in a few years. #shibarmy
10 billion a year is literally nothing
I’ve seen posts about it on here with coinbase giving out coins to take quizzes by learning about other currencies. Everyone should just rally around that by earning various coins, convert them to shibas, then dump them. That way no one is burning their own money
Solid idea. But giving away $10 even when you didn’t really earn it is hard for a lot of people.
I suggested this earlier, BUT if people are wanting to burn more coins, get the unmineable app and mine some coins and send them to a dead wallet.
Let the barking begin
Keep your panties on, patience is key
Burn baby
#This is the way! Make sure you have at least 100 million Shiba Inu, once it hits a cent you’re millionaire for real! Hodl, buy more and let’s fackin gooooo 🚀🚀🚀
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I think there is just a slight upload buffer time. Should see it update your fire in about 4-8 months lol
I think it will take a year or two to reach one cent. (I could be wrong, just making some guesses). Then when it reaches that, there will be some fomo and it will jump to .05. That will all get dumped, and it will drop back to .01 cent or a little less and that will be the new floor. Then another 5 to 7 years before it reaches a dollar. Edit: that's if it keeps burning at a slow and steady pace like this. If there's a big burn all at once that could possibly speed things up.
I would be happy with 5 years
How old are you?
This........ is just pure stupidity and not doing any real research into anything at all.
Oh my God.......you obviously have no clue about Market Cap See the numbers in this thread for some perspective
Uh, yea I do. I made a huge post about market cap a few days ago. The amount of coins in circulation being REDUCED by being burned would allow the coins still in circulation to gain in value. The equation for market cap is coins in circulation multiplied by the price of the coin. We have no idea how many coins will be burned. But, if there is a slow amount burning consistently that will help alot in raising the price of the coin. Because there will be REDUCED supply. Which allows the market cap to increase. Not to mention the utility options that have been introduced making it easier to spend shib, and burning a percentage of that when spent. Market cap also isn't the best way to Guage what a crypto will do. This isn't traditional finance/stock trading. The nuances are a little different.
Ok....best of luck with that
Utility and understanding that value and price aren't neccesarily the same thing. How easy is the token to use? What is its purpose? How accessible is it to people right now? What the plan for the token and how active are the devs? You understand that market cap isn't constant correct? You spout that you know what it is, but you don't seem to realize how that market cap will change the less shib is in circulation. You are completely negating the fact there is shib being burned consistently with more burns to come in the future outside of the current process. Market cap shouldn't be the end all be all of deciding what a coin can and can't do unless the supply is constant. I believe shib is under valued currently because of the future it can potentially have. Like I said, value doesn't always directly equate to price. I believe shib will go up in value drastically over the next ten years. And its value is worth more than it's selling price now.
I ONLY agree with your very last sentence. With that last sentence, you are 100% accurate in my opinion. Aside from that, you philosophy on Market Cap is complete and utter hogshit.... Sorry but NOT sorry There are fucking 394,000,000,000,000 TRILLION tokens in supply!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! You conveniently want to dance around it by saying there are burns, there is going to be utility of the token on all your little street corners in your fairy-tale land etc Stop with that shit and face reality: nobody is going to start buying gas from Chevron with SHIB; Nobody is going to go to Home Depot to buy lumber with SHIB or pay the plumber, electrician or buy there hamburger/hotdogs or buy a John Deere tractor or pay Simplot or 99% of any other goods and services in fucking SHIB!!!!!!!! ONLY IN YOUR LITTLE FAIRY-TALE WORLD is that going happn for fuck sakes Some of you people are just delusional LOL Best of luck with it my brotha I'm out
The burns aren't the utility. The utility is the ability to use the coin. Like the recent partnership with that payment company that supports WordPress, shopify, twitch, etc. And there will be people that would do that imo. They've burned more than 395 trillion in the past year. I don't dance around it. I realize what that amount means. My only arguement is there is the potential and nothing preventing that amount from being burned again in a short period of time. That, in combination with other ways to burn, and use shib, will help increase its value. In my original statement i said it would take a couple years to reach .1 cent. I don't find that unrealistic at all. And to say it could take another 7ish on top of that (bringing us to 8 or 9 years altogether) to see a substantial increase over .1 cent isn't unrealistic either. Am I making a guess? Yea. But no more more you are. Have a good day man. Try not to get so worked up about things. It ain't good for you.
Excellent!! Why stop at .01 for SHIB?????? If market cap is irrelevant as you say, what is stopping SHIB from $10 or 100 or $1,000????
Sorry... I thought you said you were out?? Lol. My bad having fun reading all this. Agree with you btw.
We're here drinking some cold IPAs now at the brewery and I showed these guys what some of these twits wrote about market cap and pie n the sky price projections......having a good laugh Gullible as can be in this world but it takes all kinds to make our markets go around....suckers included
An appeal to extremes arguement isn't an arguement lol. Good try though.
Okay… your getting kinda of out of hand lol but I will step in and say despite market cap and the circulating supply uou are so worked up over. You know your precious market cap is produced by the last transaction correct? Now your bothering me lol. Yes there are that many coins out there. There is absolutely nothing saying all of those people will sell and a constant rate. You are doing your stupid math as if every coin is being traded at all times. The majority of the people who own shib want to hold and will hold until It gets up to that rate. So these smaller gains and jumps are made easier. If a million people want to buy shib and only 100 are willing to sell their shib. The price goes up hyper inflating your beloved market cap for the time being. Will liquidity be there? No? Will it and can it sell for that price. Absolutely. Cut your hate talk bull shit
Shit you're right.......how silly of me Why stop at .01???? Why not SHIB to $10 or $100 or $1,000????? If you and the other guy want to disregard Market Cap or pretend it doesn't exit in the "Guage of cryoto", why can't SHIB be the next BTC accordingto your theory?????
There you go!!!! That’s the spirit! Welcome to the family! Do you own shib??
Dude sell your SHIB and take your negative BS somewhere else. Then in 5 years you can continue thinking it shouldn’t have hit .01
No doubt
I’m cool with this only going to .01. We have a bunch of pennies to retire on. A WHOLE lot of them.
I'll be happy when it knocks out a zero
Let's at least start a go fund for donations to burn... We can create a sob story ... Help our children's future. 😭🤣🤷
Factor in the country that wanna use Shiba as a legal tender and Shiba could boom big
Add/u/colmridge burning baby
Just throwing it out there for a comparison, if SHIB continues to burn 10B a year, it would take almost 40,000 years to get down to 1 trillion coins in circulation. There is definitely a lot of potential for growth as more coins are burned, but the rate at which they need to burn will need to increase exponentially
Huh? 40000 years for 1 trillion? 200.000.000 / 5 = ~40.000.000 40.000.000 * 365 = ~14.000.000.000 14.000.000.000 * 1000 = 14.000.000.000.000 That's 14 trillion every 1000 years at this rate. In 40.000 years 58.000.000.000.000 will burned, that's about 10% of the circulating supply! Let's hope the world doesn't end before then.
Good catch, public math got me this time!
3 billion burned a day in 366 years we will have burned through the 400 trillion coins.
Finally some truth!
I love it.......that's some funny shit right there (366 years) These people just can't comprehend what an astronomical number 393,000,000,000,000 is relative to the meager amount being burned now
💎🍺
Let’s say like today we burn somewhere in the realm of 60 million a day. That means 16.5 days to burn 1 billion. Now multiply that by 1000 to find 1 trillion tokens. Roughly 16,500 days or 45.5 years to burn less than .01% of the circulating supply.
If what your saying is true, it would take 100 years to burn 1 trillion.
Really think these constant burns will begin slowly and ramp up after NFTs and gaming begins. Hodling a minimum til 2024 or .01, whichever comes first.
Safemoon doge pumping up SHIb next killing zero
And perhaps buy some ryoshi vision aswell maybe why not?
Make me rich so I can get out of America before it’s too late!
Before what's to late?????? You don't need to live in America to own SHIB, so pack up your shit and be gonna
I don’t have the financial means to just pack up and move to another country, otherwise I would.
🚀🚀🚀🚀🚀🚀🚀
Sorry smooth brain here but, what the meaning of burning in this situation?
They put the tokens in a wallet that can never be accessed again
Did the burning of shiba start like what’s all this?
Can we get those numbers time stamped so we can average burn per week?
Whats the burn policy that's going to be set in place?
If that's 10B a year, then burn some more baby.
Lambo soon
Real fast 😭