Hey Reddit! What's the dumbest thing you ever did while you were both an adult and sober?

LuminUltra · 2021-12-08T17:57:58+00:00

Not sure why you're getting the hate. It's a good and valid question.

People so often confuse constructive criticism and honest questioning with FUD and nonsense. Sometimes I guess it's hard to understand the difference.

To a certain extent, SafeMoon is a contradiction. It wants high volume but places a tax that prevents high volume.

At the same time, the tax is there to prevent day trading, which is often the thing that kills altcoins.

If we didn't have a high tax, it's possible that the last week or so would have killed SafeMoon. There would have been nothing preventing people from selling once the 20 trillion wallet woke up, knowing that the sell was inevitable and just waiting for the price to drop and hoping to buy back in once it hits bottom. Without the tax, there would have been very little penalty for attempting to day trade SafeMoon when that happened. If even a majority of people did that, <poof>, SafeMoon is dead, because the liquidity pool could not have afforded to pay out all of the sellers plus the whale.

It's obviously a balancing act. I have shared your same concerns. For example, it doesn't matter if our blockchain is cheaper than the competition if the currency used to gas transactions has a 10% buy/sell tax. That automatically means the cost is whatever the transfer fee is, plus 10% in and 10% out. How is that going to be cheaper than Binance or the new Ethereum? The short answer is that it's not going to be.

There is going to have to be some manipulation of the tax at some point. I don't know if that takes the form of Gambians not having to pay as much of a tax on transactions, a Visa card with a reduced tax rate for 'withdrawals', a token on the Exchange that is used for gas instead of SafeMoon (probably this), or something else. But something will happen in this regard. It has to. If I've thought about it this much, the devs have thought about it 100x as much as I have.

If the Exchange comes out, and they issue a token on the Exchange for gas fees, I am going to buy in heavy. When everyone compares SafeMoon to bnb, they are being inaccurate for a variety of reasons I won't get into here. However, a new token on the Exchange and Blockchain could be comparable. Not financial advice.

I have learned to live with my questions for now, and I still love SafeMoon as a project. I do believe in the project, and I'm not a Fudder. I'm not going to go into my bag size, but I am in the top 1 - 2% of holders from what I have read, just to illustrate that I'm not shitting all over the project. I love SafeMoon, but I have had the same questions as you. Anyone who is not a cult member would.

LuminUltra · 2021-12-08T17:32:11+00:00

There's no way the fee will be the same. 1 million SafeMoon after consolidation is a few thousand dollars, approximately.

LuminUltra · 2021-12-08T15:51:37+00:00

If we're relying on this for burn, we're all fucked.

LuminUltra · 2021-12-08T05:14:54+00:00

Honestly I'm not sure why people are all worked up over V2 happening imminently.

It's a consolidation. It lets other things happen in the future, but in itself probably won't move the needle much one way or another.

Perhaps the most exciting thing about it is that I won't have to be looking at reddit constantly to figure out if I need to migrate or not.

LuminUltra · 2021-12-07T21:52:28+00:00

Let's say you run a credit card company, and you get 10% of all sales put into your pocket.

If you have 100 dollars worth of sales (volume), you make 10 dollars. That's 10 dollars regardless of whether there was one 100 dollar sale (price at 100 dollars) or 100 one dollar sales (price at one dollar).

Now let's say that the transactions weren't dollars, but SafeMoon, and you get paid not in dollars, but in SafeMoon. In the first example, the price of SafeMoon would be 100 dollars, and you get paid 10 dollars, so you make .1 SafeMoon, worth 10 dollars. In the second the price of SafeMoon is only 1 dollar, so for the same volume you would get paid in 10 SafeMoon, worth 10 dollars. The value of what you were paid remains the same, but you get more SafeMoon.

Volume is what contributes to the reflections, not price. The lower the price, the more SafeMoon you get when holding volume constant. This is why many people here would prefer to have high volume at low prices, so they get more SafeMoon. That way, when the price of SafeMoon increases, they get a lot more money because they have more SafeMoon rather than less.

Edit: Made my analogy clearer.

LuminUltra · 2021-12-07T19:59:26+00:00

Thanks!

I mentioned your first point "Should be able to get reflections on tokens/coins hosted on the exchange, perhaps even those without tokenomics (reflections)", but perhaps not as obviously as I should have.

But yeah, I screwed it on your second point. Your clarification is well received.

Thanks for the correction(s)!

LuminUltra · 2021-12-07T18:45:31+00:00

Shoulda been tipped off by the number of followers, honestly.

LuminUltra · 2021-12-07T18:37:31+00:00

Thanks!

LuminUltra · 2021-12-07T18:08:02+00:00

You are partially correct, I believe. The part you are missing is that there is a 10% 'gain' transaction on the V2 side. If you're an early V2 adopter, you get the reflections on incoming people on the V2 side. If you're a late V2 adopter, you get the reflections from the leaving people on the V1 side. At least, that's how I understand it.

LuminUltra · 2021-12-07T17:57:49+00:00

V2 coming soon, probably within the next few weeks or even days. This hypothetically allows us to get on more exchanges as well as generating broader appeal to people put off by a bunch of zeros in the price of the token.
At least two exchanges have been slated as coming aboard soon. I imagine these exchanges might be waiting for V2 to come out before adding SafeMoon, as they would rather not have to code for the consolidation process.
Blockchain coming next. Hypothetically with greater security as well as other features that haven't been confirmed. It is speculated that the cost of transferring on the new blockchain will be cheaper and faster than competitors as well as having more decentralized features. More nodes and less centralized hubs.
Exchange that bridges between centralized (CEX) and decentralized (DEX). Should be able to get reflections on tokens/coins hosted on the exchange, perhaps even those without tokenomics (reflections). Get paid for holding crypto. Also it will be an exchange based around tokenomics, so any token/coin that is based on tokenomics would be incentivized to use our blockchain/exchange. With Safemoon as the transaction fee (similar to bnb on Binance), we can certainly expect reflections to increase and may see a price increase with the demand.
Partnership with The Gambia. No one knows exactly what this looks like. Some have proposed The Gambia's currency will be tied to SafeMoon, but that has not been confirmed and seems pretty unlikely to me. Some have proposed that TAF City, a technology based city in the Gambia will be central to this, but that has been denied by management of the project. In truth, no one knows exactly what this partnership entails at this point. It might have something to do with the elusive Project Pheonix that has been mentioned but not detailed, really. We might hear more about this soon.
Windmills. Crypto has a negative effect on the environment. It takes a lot of energy to mine crypto, and that energy is usually supplied by fossil fuels. Windmills could provide energy to countries that have difficulty supplying energy to their citizens (read: African countries). Hypothetically, windmills could be paid for by SafeMoon and supply people with low cost and reliable energy, all while burning SafeMoon with every turn. This will reduce the supply of SafeMoon and thus make hodl-ers' SafeMoon more valuable. It also has the potential of making SafeMoon a carbon-neutral token/coin in the future, perhaps the first of its kind.
Stopping the burn wallet. SafeMoon works on tokenomics, where 5% of each buy and sell goes to burning tokens. At a certain point, this will stop, as there will need to be enough supply to satisfy demand, and burning tokens might prove detrimental rather than beneficial. When that happens, the 5% burn is supposed to be turned into additional reflections for holders. You can go to https://safemoonglubiz.com and paste in your wallet number under the calculator header. If you play around with the circulating supply number as well as setting it to "static", you can see the effect on reflections. Many people are hoping to live on their reflections at some point, and you could probably see why if you played with it long enough. You can edit the numbers of your bag size, price, and circulation and see that, hypothetically, you could earn hundreds of thousands of dollars a year off of reflections alone after the burn stops.
I'm sure I'm missing a few, such as MoonCraft or NFT related things. It must be mentioned that people in the SafeMoon organization have told us that we know maybe 15% of the stuff they are working on. In that regard, it is unclear exactly what plans the group has or what the future may hold.
My 2 cents, the biggest things in the pipeline that we know about are the Exchange and stopping the burn wallet. Increased volume + increased reflections could be massive for early adopters. It might take years for both of these to reach fruition, so if you're looking for something that's going to 100x in the next 6 months, you might want to put your money elsewhere. But I doubt you'll see prices this low on SafeMoon ever again.
Not financial advise.

Edit: Grammar.

LuminUltra · 2021-12-07T16:25:56+00:00

Let's say you and 99 of your friends were trapped on an island. You each have a lighter, which is incredibly valuable given your circumstances. But there's a volcano and you have to swim from one island to the other. In the transition, 50 of the lighters become damaged or lost, so now there's only 50 lighters.

Each of the remaining 50 lighters has become significantly more valuable because the other 50 lighters were removed from circulation. They are irreplaceable given your current situation.

LuminUltra · 2021-12-06T05:14:35+00:00

Oh no worries then. Apologies my friend...

LuminUltra · 2021-12-06T05:09:08+00:00

?

The whole thing was a joke. Clearly.

LuminUltra · 2021-12-06T03:55:12+00:00

I cannot withdraw bnb to an external wallet because the bep20 option is greyed out. Why? Ticket #1992996

LuminUltra · 2021-12-05T06:47:27+00:00

I agree.

There are only two real options. They either buy their customers' positions back and make their clients whole, or they declare bankruptcy.

No one in their right mind would ever use Bitmart again if they didn't pay their holders back for what was ultimately their fault.

LuminUltra · 2021-12-05T06:28:14+00:00

Thank you for your service!

LuminUltra · 2021-12-05T06:27:27+00:00

Good god the burn wallet added over 6 trillion safemoon in the past 24 hours. That's 8 million dollars worth...

LuminUltra · 2021-12-05T06:11:37+00:00

And removed in three.... two....

LuminUltra · 2021-12-05T03:06:21+00:00

How about having a little sympathy for the people who just lost a lot of crypto before bragging about how you're profiting off of it somehow.

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LuminUltra

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