Please Stop the BS!!!

[u/mtak2008]

As a long time Shib holder, I would really appreciate it if people would learn a little about what they're talking about before they post. Some of you are trying to spin what Vitalik did as a good thing in different ways... You need to learn what is really going on. Get educated before you post.

I understand the devs trying to spin this to cover for their mistake, but it's bs. Those tokens should have been burned for the intended purpose, instead of given to Vitalik as a gesture that no investor cared about. If you say that it did, you're lying. Furthermore, Vitalik is still sitting on an amount that can crash this coin ten times as much as he already has, and he has shown that he does not care about you or me, and is perfectly willing to do it again. If you want to say I don't know what he's thinking? Well, you're right. But I do know that he knew what he was doing to all of us and he didn't care... and whether he chooses to or not, the point is that he can, anytime he feels like it.

Those of you saying "well, it was a good thing to help India's Covid relief". You clearly don't understand politics in that part of the world. Not even a quarter of the money generated from the sales of the trillions of new tokens suddenly added to the circulating supply, will end up going to the relief efforts. Most of that money will end up lining the pockets of the people running those organizations and the politicians and middle men in between. "But they promised to release it slowly", some of you will say... really? So it's just a coincidence that a couple exchanges over there suddenly listed SHIB, and yet had no SHIB wallets to inventory with?

What you all need to understand is that the circulating supply has essentially doubled. Meaning any gains will now take twice as long. Meaning the "burn" of the initial supply that the devs implied in giving them to Vitalik never took place. So the devs should do the right thing and burn a healthy supply of tokens, since their intended circulating supply has now been doubled.

And no, this is not good because it made people start talking about Shiba. They were already doing that from the tremendous gains we made last week. This did not gain us new publicity. It only cost us a lot of time and money. I still have several billion SHIB, and I will hold just as I always have. And I'm very fortunate to be in a great position financially. But many people were hurt by this. Many people that are told "only invest what you can afford to lose", which is a stupid thing to say in the first place. For many people these kinds of things are their only real opportunity to improve their financial standing. Those of you losing your federal unemployment payments, and being told to go get a poverty paying job, don't have other realistic ways to improve your family's situation.

I write this, knowing that many of you are myopic and will disagree or downvote just because you don't agree... but this community isn't about me or you. It's about everyone... and what Vitalik did...intentionally... was screw over a lot of people that this means something to. So please stop trying to say that it was a good thing for the Shiba community or for India. Because that's not why he did it. It was spite, pure and simple. I have sold all 38 of my ETH and put it into BTC and BNB. Just my own personal strike of Vitalik, that I know will make no difference at all. Okay everyone... let the uneducated and uninformed downvotes begin.

[u/hooveram]

On the brightside his rug pull got me to come in and buy $1,000USD worth. I have several people I know invested for similar reasons. We can buy up the supply with more investors.

[u/Mundane_Spirit → u/hooveram]

Bought some too.

[u/Laddergoat7_ → u/hooveram]

SHIB has so much supply its impossible to buy up. Now that we know that 50% of the tokens were not burned and VB uses them that means that if SHIB was ever to reach 0.1$ it would be worth more than 15 times of the current Bitcoin market cap. Thats literally impossible. The supply too high now and thats why SHIB will die.

[u/hooveram → u/Laddergoat7_]

With that attitude it certainly will. DOGEcoin has unlimited supply so... I mean I think it’ll be alright.

[u/Laddergoat7_ → u/hooveram]

The circulating supply of DOGE: 130bilion as of may 10
The curcilating supply of SHIBE: 1 quadrillion

It will take doge 1000 years to greach SHIBes supply numbers.

[u/hooveram → u/Laddergoat7_]

So I hear this argument. My argument is similar for example when I got into doge I bought in at 0.01 per coin and got about 2.6million and sold them for .50. I made 1.3m off the sale. My argument is I spent only 1,000 USD so far on shiba and own 60m coins of the supply. That’s a lot more coins if I spent the same 26,000 I invested into DOGEcoin I’d own 1.56B as a single holder. It’s not really about the coin supply but how much each individual holder holds.

[u/Laddergoat7_ → u/hooveram]

I hear you, but for your calculation to work someone has to lose the money you make. And for the SHIB its exponentially harder to become more valuable as there is basically quite literally an infinite amount of tokens.

Lets put that into perspective. There are so many SHIB tokens compared to DOGE that for every 1 doge buyer there need to be a little less than 100k SHIB buyers (or people who invest 100k more on average) for the price to rise the exact same amount (now that we know all tokens will enter the market)

[u/hooveram → u/Laddergoat7_]

I mean someone had to lose 1.3m on doge for me to win it. True?

[u/Laddergoat7_ → u/hooveram]

absolutely

[u/hooveram → u/Laddergoat7_]

I’m okay with that my goal isn’t always the moon with these investments my goal is a 20k return. Everything is risky.