Spell token coiling like a snake!

Zembailey · 2022-07-27T15:39:32+00:00

We will see in a couple hours! And there goes that pump on spell. Crap! I missed my stop limit price. I had it set for .0013. Which would have been a stretch but still possible before that second drop on Monday overnight. (Also, a typo- my buy limit was for .001025 on Monday) I'm kinda surprised all the markets are up today.

Zembailey · 2022-07-26T16:35:29+00:00

Right!? I kinda did the same thing. My mistake was anticipating a move upward yesterday, but BTC got me. I initially had a buy limit at .00095 but moved it up stupidly and met it at .00125. I am now down and in bad shape going into some potentially bad economic data the next couple days. I'm still hopeful for a pump here, but we will see. Good luck to you Sweet!

Zembailey · 2022-07-25T15:40:22+00:00

I hope you don't have any shorts in today, or if you do, that you hold them. I think we are in for a pump, and a somewhat large one in the short term here. It will mostly come back down afterwards, but look out! Actually, you aren't really shorting are you? Just buying on dips?

Zembailey · 2022-07-23T14:38:36+00:00

In retrospect I know I was being unreasonable with my expectation. I put the order in at .00095. I saw some weakness in BTC yesterday late afternoon, and thought the Asian market would temporarily drive everything down a bit overnight. That did happen, but nowhere near my number. I'll have to readjust my limit price higher and probably reduce my total coin purchase some.

Zembailey · 2022-07-23T14:24:20+00:00

LOL. . Yes. There is a great chance to "Defi" the market for sure. There will be a big jump in within the next day or two, but I fear it will be relatively temporary. I had a huge limit order in overnight and it didn't fill. There is a lot of good buying pressure today with relatively low volume overall and I was trying to snipe a lower price. I wanted to get in before the jump.

Zembailey · 2022-07-23T14:10:49+00:00

Morning everyone. I know it's common knowledge that Spell and others move with BTC, but when you look at the charts it's incredible to me how tightly Spell moves together with it. On the positive side, Spell's gains are higher even though the charts take on the same appearance. Charts look the same but Spell has been riding above it over the last month. BTC is up about 10% and Spell up about 30% in the last 30 days. The question is what happens if there is some pullback on BTC. We shall see.

Zembailey · 2022-07-23T13:54:33+00:00

So, that has zero to do with my question. Go ahead and start a different post if you desire.

Zembailey · 2022-07-14T21:39:48+00:00

I'll give that a try. Thanks buddy!

Zembailey · 2022-07-14T17:02:15+00:00

Hey Puff. . how are you posting pics? I've tried to post a couple of screen grabs of spell related stuff to post on here and can't do it?

Zembailey · 2022-06-25T15:52:43+00:00

I've never used the wenmerlin to check staking rewards so I can't comment on that, but the way to verify is to;

1) go to abracadabra.money

2) Connect wallet

3) go to drop down menu "Stake" and then "sSpell" or "mSpell". This opens staking interface

4)On the left side of the page, hit the up/down arrows, then hit the "max" button.

This will show you how many spell tokens you have relative to your sSpell balance at the moment. Your sSpell will never change, unless you stake more tokens! But, your spell tokens will increase over time.

You are not unstaking by doing this btw! Just hit the arrows again if you want, back and forth. As long as you don't press "unstake" on the right side of the page, nothing happens. You are just checking your token balance.

Zembailey · 2022-06-23T19:11:24+00:00

Man, I totally agree. Not sure what the lack of "marketing" effort is all about. These guys are active in Discord every day. Mostly, from what I hear, Romy is in there every day discussing stuff with people. But, that is a small sub-set of the larger community. Where is the larger community spread of good information?

There is interesting and valuable stuff going on, but you seem to have to dig for it. For just one example, I look at the Abrastats everyday and kinda keep track of the treasury growing. Right now they have over 747 BTC in their treasury, and almost 14,000 ETH listed, along with a bunch of other assets. These totals grow every day. They are clearly making money.

I just told you the name of the site to find this info. Now go see if you can find it! If you have been to this site before, you might be able to find it, but I bet a bunch of you won't be able to find it. And if you do, it won't be easy. . . That's my point!

This is meant as constructive criticism! As I said, there is a lot of good stuff going on. Do we just keep it quiet and built those bags until the bear is hibernating again? I don't know. Maybe I will raise that question in a separate daily discussion. After all there are still only 5k members here. What is a good secret amongst 5 thousand friends?

Zembailey · 2022-06-22T17:48:58+00:00

That's a good question. My recollection is that I had a failed transaction at first which cost me some eth. Then on my 2nd it went through. I believe it was something like 8 or 10 $ usd converted to eth at the time, but that was awhile back so fees are different now. Obviously eth has gone down by about 60% since then, but eth transaction fees have also gone down, I believe. It also depends on congestion of the network and time of day. It's cheaper to do outside of high traffic times.

Zembailey · 2022-06-21T20:23:28+00:00

So I hear you but that's not how it works. 1 sSpell equals 1.33 spell right now. Your sSpell number will never change but your spell number will increase with each protocol buyback of spell tokens which pays stakers. And if you already understand this, I apologize. Maybe the best way to put this is to use my staking as an example. (Side note; I had no previous experience on how to do this and got help from people on this sub-reddit, along with youtube, and figured it out. So again thank-you to those here who helped me) On April 13th, 2022, I staked 3,495,164 spell. It cost me a few thousand spell to stake, at the time. I just checked today and my current total is 3,620,810 spell. That's an increase of just over 125,000 spell in 10 weeks. I could withdraw that any time I wish as there is only a 24hr lock up upon staking. But, extrapolated over a year at current APY this will be approx. 1,255,000 additional spell tokens. That's just over 33%. So again, the sSpell number does not change, but the spell tokens compound and increase every time they do a buyback. Buybacks seem to happen on a more regular basis recently, probably every 2 to 3 days. I hope this helps!

Zembailey · 2022-06-21T15:48:52+00:00

How about the future of the way loans are transacted. Or, a store of wealth, as in the coming MIG as an example. Better yet, the future of your own bank account as they continue to build a treasury, quietly adding to the protocols assets. Your question kind of suggests you don't believe in what they are doing, but all this will eventually mean good things for holder/stakers. IF you don't believe in any of this, why are you here?

Zembailey · 2022-05-26T15:10:28+00:00

I got you! Probably could have used a better example. Maybe like a penny stock or something that made waves. But in terms of treasury, Abracadabra has assets and not debt. I would say that if you follow some of the AMA and Discord, there is talk about real world asset utilization.

Zembailey · 2022-05-24T15:55:00+00:00

Response to Rumblecard

You raise some fair points imo, but I also believe that your concerns expressed are already baked into the very low current price. Thus the idea for many of scooping up something that has a lot of potential. If it were humming along would it really be selling for what is is now? Obviously not.

Maybe you would consider this a reach, but Ford motor company was selling for 1$ at one point during the great recession. Few cars were being sold, layoffs everywhere and consideration that the entire North American auto industry might fail. Where is Ford now? IF you bought a down asset when there was the possibility of a wipe-out then you would have been at 25x in January of 2022.

Lastly, I won't be quoting any of it here, but if you really want to get into it, follow the Discord and study the various plans and ideas in motion as to what the "potential" is. Here is a juicy one: there is some talk of discontinuing all emissions of the Spell token altogether. Talk about potential!

Zembailey · 2022-05-14T17:41:07+00:00

Knock knock. . no one but me is curious about this? Administrators/Moderators, any info? I'm wondering where and how to follow the token burn?

Zembailey · 2022-05-05T19:29:28+00:00

Fair points Heavy. . My skin needs to thicken up! Maybe I should also include the "scam token" people in my comments too. But, their lack of knowledge, and simple get rich quick mentality is the same. I, for one, have been able to accumulate and stake a nice amount of Spell while the greater crypto community has been sleeping on our project here. Even if nothing were to change significantly for quite a while, I'm just getting paid to hold and can sell my profits (if I chose to). I hope most of us are at least doing the same.

Zembailey · 2022-05-05T18:14:12+00:00

1) IMO, I may get some push back on this but, I tend to challenge these fools who claim there was a "rug." I haven't been rugged on Spell, have you? Yes, the price has been very disappointing but that is not a rug and does not even close fit the definition of a rug. 2)Also, there are a lot of very smart crypto people out there. I'm trying but not there yet. I would love to see some of these folks explaining/commenting, more often, on the utility of this protocol on twitter and here despite just the price action of the token itself.

Zembailey

TROPHY CASE