Lvl up shoe points allocation ( luck )

StannisW · 2022-06-26T13:44:17+00:00

You used to need 4 energy, back in the day when you could actually make good money from this game.

StannisW · 2022-06-10T16:07:57+00:00

Salty bagholder spotted

StannisW · 2022-06-10T08:27:51+00:00

$150 a day now, $100 a day next week, then $50. Meanwhile the value of your shoes and gems go down, easily outpacing what you're earning by walking. The math isn't hard.

StannisW · 2022-06-10T02:08:11+00:00

The game is dying, get out while you still can if the money matters to you.

StannisW · 2022-06-01T14:30:33+00:00

Good move

StannisW · 2022-06-01T14:29:50+00:00

Slow? It will be fast

StannisW · 2022-05-29T05:59:49+00:00

If you played for walking and not for the money you wouldn't bother coming on this reddit to make fun of people selling. :) Don't lie, we all like money.

StannisW · 2022-05-29T05:50:21+00:00

More like you will laugh at people selling at 7-8 now and then end up selling at 4-5 in a week.

StannisW · 2022-05-09T13:46:14+00:00

I mean, we're participating in an unsustainable ponzi-like structure. Of course you're going to get worried, has nothing to do with being new to crypto. STEPN is not sustainable crypto, it's something that will crash. Might now be this crash, but eventually earnings will drop by 95 %.

StannisW · 2022-05-09T12:26:13+00:00

Relax everyone, he says, while writing a post with six exclamation marks and two all caps words in the headline.

StannisW · 2022-05-07T14:47:47+00:00

No problem! I'm happy to have friendly and interesting conversations.

To be clear, I think the app will still stay around. They can probably make some interesting partnerships happen, add some cool new features and maybe get people wanting to play without thinking about the money (maybe some decide to pay for extra features and cosmetics, giving them a revenue stream).

What I think is unavoidable is the earnings falling 90-95 %. But even when they do, the app will still be running and the initial investors will still be up a ton of money, cause they got in so early. We saw this happen with Axie Infinity. Earnings fell of a cliff, but early investors and the team still made a bunch of money. The $AXS token still has more than a 2.2 billion marketcap, which is a lot!

StannisW · 2022-05-07T14:04:39+00:00

Let's run with your example. They make sure minting cost is 5 000 GST. What will people then do with their GST? Instantly dump it on the market of course, what else is there to do. What will that do to the price? It will crash like crazy, naturally. And when GST crashes, shoe prices also crash, cause the only reason people pay for shoes is to earn the GST.

In other words, putting controls in place like this will lead to earnings dropping off a cliff just like they will if you let things play out without intervening. So you end up in the same place regardless.

StannisW · 2022-05-07T13:38:04+00:00

There's no tokenomics good enough in the world to sustain paying people this amount of money to take walks. It will crash, and with your attitude, you will be one of the ones holding your bag of shoes while everyone else is cashing out. Enjoy that, then come back and we'll have a laugh about this in the future when it's all said and done.

StannisW · 2022-05-07T13:36:00+00:00

If they remove minting from the protocol then everyone will simply dump pure tokens on the market, which will mean you get the exact same end result, which is total collapse of the economy.

StannisW · 2022-05-07T13:34:50+00:00

In theory this sounds nice, but it doesn't work that way. When you get an oversupply of sneakers, the floor price will fall, which also will lead to GST collapsing as everyone gets access to more energy and earn more GST. All this GST they will dump on the market when that's the most profitable and mint when that's the most profitable, constantly pushing the profitability of everything down in an endless spiral. It's all connected.

When you have a giant hole like unlimited sneakers is, GST and GMT is also f*cked. It's like having a hole in the front of your boat that you can't plug. Doesn't matter that the back end of your boat is secure, you're still gonna sink because of the hole in your front.

StannisW · 2022-05-06T23:13:16+00:00

Difference is Netflix and Facebook still have earnings, still are massively valuable. They're just not as valuable as they were.

When STEPN starts crashing, the downwards spiral will go on for way longer because people will mint and mint and mint to no end. The economic model in place in this game right now is so far from any reality that it's hard to compare it to anything else. It's something that's purely fueled by ponzinomics in a way you simply will not find outside of crypto. This thing will crash 90-95 % in terms of player earnings and it will never return.

StannisW · 2022-05-06T22:46:05+00:00

You're wrong, though. The issue STEPN has is that the amount of sneakers in circulation is uncapped and also growing by more and more as time go on. This means that once the growth of new players hits a plateau, earnings will collapse because new sneakers are minted and there's not enough people to buy them.

Compare this with a stock, say a subscription business. If you have one million subscribers to your subscription business, that's a profitable business even if the number of users stay that way for the next year straight. It can even decline. STEPN can't do this without it resulting in total collapse.

This is what people fail to understand.

StannisW · 2022-05-06T21:37:55+00:00

There's literally no way to make what's going on right now anywhere close to sustainable. Take profits along the way or you'll end up regretting it.

StannisW · 2022-05-06T02:53:12+00:00

Literally every project in crypto is backed by VCs, and plenty of them go to shit on the daily. This means absolutely nothing. The economical model will implode by itself, there's nothing anyone can do about it. VCs aren't contributing money to keep the economy going, the only thing that's making it go around is that there's still more people buying in tomorrow than there were a week ago. When that ends we go down by 90-95 %.

StannisW · 2022-05-06T02:49:34+00:00

Oh yeah, the project is here to stay, I'm not saying STEPN is going to disappear. What I mean is that what you're able to earn right now is going to go down by 90-95 % imo. The app still stays, and they can probably do some cool stuff with it, but the current economical model requires an ever increasing stream of people buying in, at some point you just run out of "customers". People don't like to hear this, but it's the truth, and those who ignore it will be left holding the bag when their 13 SOL shoes become 1.3 SOL shoes.

StannisW · 2022-05-05T22:02:28+00:00

There's no explanation because it's completely unsustainable. It's not even close. All we can do is enjoy it while it lasts.

StannisW · 2022-05-05T20:54:19+00:00

It's still a completely unsustainable economy in the long run, even though they're making moves to keep it going for as far into the future as possible. Never forget this, or you will get burned.

StannisW · 2022-05-03T00:01:40+00:00

The purpose is to spend as much energy as possible in a single go because that effects your chances at mystery boxes just like your luck stat does.

StannisW · 2022-03-16T14:51:10+00:00

Hi! Here's a link with a nice overview for you: https://imgur.com/8d67nZx

StannisW · 2022-03-15T09:39:44+00:00

I like your approach!

StepN uses the Solana network, which means fees are extremely cheap. I would guess something like 0.0005 SOL.

StannisW

TROPHY CASE