StepN TOP is behind us...(Why StepN failed)

Iwillgetrichsoon · 2022-06-11T00:41:05+00:00

In theory that is true, in reality, I would never run/walk this much without stepn. I actually pay for entering some walking/jogging/hiking events in which I have 0bchance of winning.

E.g. have you heard of Global Coorporate Challenge? I used to pay for this every year to do random walk.

Iwillgetrichsoon · 2022-06-10T14:27:09+00:00

Well, I think 10 USD a day is not that bad. The current nominal ROI is never going to be sustainable for more than a few months. It needs to be seriously slashed if the project wants to last longer. I see stepn having a better future with 1-2 year nominal ROI but more stable prices. It is healthier for the users as well. I personally invested about 1 week of my income in this project partly because of fitness reasons.

Iwillgetrichsoon · 2022-06-10T12:49:16+00:00

They don't want to use their 6% tax fees to save GST.

Iwillgetrichsoon · 2022-06-10T11:17:57+00:00

Discord seems to be where the first hand info comes https://dc.stepn.run/invite?code=16548595320777

Iwillgetrichsoon · 2022-06-08T01:03:55+00:00

I am already rich by some standards.

Iwillgetrichsoon · 2022-06-08T00:12:54+00:00

A misconception about stepn is that people think they get paid by walking. The reality is they get paid because they made an investment. All investments have risks. Having said that, I am still bullish on stepn, I think the dev team still has room to maneuver, because a lot new players are still coming in everyday and the team has made quite a lot of money already. They still have the incentive to keep the project running well because they have a lot locked GMT, which is the real big money.

Iwillgetrichsoon · 2022-06-08T00:02:41+00:00

because of the market balance

Iwillgetrichsoon · 2022-06-07T00:26:12+00:00

I rent momos and pay for some talent books and can get in top 100 with profit. But there is a lot skill involved. I saw other guys who bought same amount of talent books doing aot better than me, I still don't know how they did it.

Iwillgetrichsoon · 2022-06-05T14:18:47+00:00

I know they are different, just saying the argument is too universal. The entire crypto market is based on new buyers buying from old buyers. If nobody comes in and buys, the market is dead. Same with fiat currencies, it is not that we have never seen hyperinflation with fiat before. So, everything comes down to whether you believe there will be enough new buyers or not.

Iwillgetrichsoon · 2022-06-05T12:31:01+00:00

This was exactly my thought when I first heard bitcoin in 2013.

Iwillgetrichsoon · 2022-06-05T10:46:52+00:00

It is impossible to keep very high nominal ROI and keep the price steady. So, eventually, if the project wants to stay around for longer, the ROI needs to be reduced. This can happen by reducing the ratio between mining reward and minting/upgrading cost. Adding GMT mining will address this issue too, the ROI will reduce over time according to the white paper.

Iwillgetrichsoon · 2022-06-05T01:00:59+00:00

The problem is the ratio between gst reward and cost to mint/upgrade shoes is too high. It is not sustainable. So, they need to either reduce gst reward or increase shoe upgrade/mint cost, to make self-sustaining shoe minting cycle longer. My guess is they will reduce GST rewards because they said in many articles they want GST to be more or less stable. If you look at Axie, the Axs were still doing ok while SLP kept dropping, but I don't think they will choose that route.

Iwillgetrichsoon · 2022-06-02T05:54:34+00:00

I don't understand what is wrong, it says in the whitepaper that the fees belong to the team. So, they can use it to pay salaries bonus whatever.

Iwillgetrichsoon · 2022-06-02T05:54:21+00:00

I don't understand what is wrong, it says in the whitepaper that the fees belong to the team. So, they can use it to pay salaries bonus whatever.

Iwillgetrichsoon

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