I’m new to the community and have been doing my research and reading the sidebars. I think I understand the basics, but I still think I’m missing something here.
Safemoon is up 1,600,000% on the year. So you’re telling me that if I put $1,000 in when it started I would have $16,000,000? I know there’s 10% fee and other fees but even after. You would in theory have $14,000,000 or am I missing a major point here?
Posted Oct 29, 2021, 9:53 PM UTC
It's the same with a lot of coins/tokens... If you get in the day it is released, you make millions IF the coin/token ever amounts to anything. However hundreds if not thousands of coin/tokens are released everyday... And only 1 or so a month actually survive very long
It’s like baby turtles
If you had out $8K into SHIB last Aug (which someone did) it would be worth $5.7B now… so… yes…
This still blows me away. I would have cashed out at the first billion. Even if you pay $500m in taxes, 500m is enough for multiple generations to live comfortably off of.
Likely whoever it is either lost their seed phrase or died… the wallet has not been touched since the initial purchase…
Or they didn’t realize shib exploded until recently and are now contacting attorneys, wealth managers, CPA’s, personal security… etc…
Or it’s a dead wallet…
Or getting divorced lols…
Hahahaha
Agree,
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They manually burned 300T tokens a week after it launched which created huge whales in the beginning
If you bought on day one and sold at ATH yes
Thats why today i also bought some "baby moon floki" today. Is only 5 days old. Big chance it will be worthless, but small chance on big money i hope.
Buy now and you’ll still be a millionaire. This is early shit.
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Yes. That is true. That’s been our problem for a while now. Those whales that bought at the beginning have cashed out keeping our price down. They’re pretty much gone now.
Crazy to think. Last question but am I looking at these charts wrong? It looks to me that it’s gone up about 1,000,000% since like September 27th. Is that right ?
No. It’s only gone up 450% ish since then. That’s all 🤣🤣.
Maaaan I swear I’m not this dumb 😭. What am I doing wrong? On Coinbase it looks like YTD is 1.5M %. If I have YTD chart open and go back to September 27th it says YTD is 312K %. So I figure if I take the difference then it increased 1.2M % in like a month. What am I doing wrong/is there a better source to track this
You can’t calculate it that way because at each point it is still calculating % gain from inception.
For example, say it started at $1 at inception and by September it was $2 then by October it was $3. From inception we’re looking at a 100% gain at $2 in September and a 200% gain at $3 in October. The gain between September and October ($1) is calculated as ($3 - $2) / $2 * 100 = 50%, as opposed to the way you are trying to calculate which would indicate a 100% gain (200% -100%). I hope this makes sense. I’m not very good with my words 😂.
Your best bet is to just look at the monthly gain to see what it has climbed over the period or do the following calculation:
(Price today - Price on September 27) / Price on September 27 * 100
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Yes, that is correct.
Shib was a similar case. Some dude invested $8,000 in Shib at launch, and is sitting on 5.7 billion now.
Imagine losing the seed phrase💀
I think he did lose it, or would have sold long time ago
I imagine that seed phrase is in a safe deposit box along with a dedicated device that has the wallet loaded on it. And a second device with the 2FA in a separate box.
Or a hardware wallet locked in a safe deposit box.
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scammers dream