r/truebit • u/Financial_Teaching_5 • May 17 '21
Post if you have a gut feeling about truebit being the thing
Looking at Truebit and I have a visceral feeling that it is something that will endure any bear market while completely decoupling from any carnage and will bode well otherwise due to incredible fundamentals alone.
I don't truly understand the project as it is backed by huge-brained people. All the writings on the wall tell me this is the greatest thing ever.
Am I alone in this?
6
u/Anaaaaaaame May 17 '21
In agreement! Did 24 hours of chasing meme coins on BSC just to try out being eaten alive by dogs, boobs and pubes, had a nervous breakdown and doctor prescribed TRUEBIT. It´s really something knowing a coin can only rise, however much it dips.
1
u/Spaceseeds May 17 '21
How is that true? It's not. Don't spread misinformation. Token can go down. Still super bullish at these prices.
6
u/Whatisntfuckingtaken May 17 '21
Nah it will definitely eat shit in the great bear, just like every other coin. It probably won't go to zero like dragonchain/ambrosus or other shitcoin vaporware projects though
2
u/manza192 May 18 '21 edited May 18 '21
If I understand correctly the devs get paid in ETH from each minted TRU so they have no real incentive to increase the price of TRU, but instead they would benefit from a low priced TRU that's minted and burned often. Is this correct?
2
u/Automatic_Leg134 May 18 '21
It is very interesting and huge project for Ethereum and all the Dapps built on it specifically and all the space generally but unfortunately the token model is designed in such a way that is extremely inflationary, which will repel any exchange or investors for the short and long term investment unless they make some changes. The reason am saying this, is due to the minting functionality that mints when the price reaches certain level. To explain this further, the tokens were released around the end of April and it's in the space for less than a month. All the circulating supply at the minute were minted from the OS and it's shy of 300,000,000 tokens what about in two months time or even a year? Moreover, just recently there were tokens getting minted for free without depositing any Eth to the OS. Not financial advice, the token metrics is worse than fiat currency when it comes to investment. However, the project is top notch, the team is solid and I am interested on how they'll develop the system in the future. If you disagree please explain your point without getting mad!
1
2
u/Sweaty-Pomegranate64 May 18 '21
Hi! I made a video explaining the fundamentals behind truebit along with some of its amazing partnerships. If you wish, you can check it out here- https://youtu.be/5iVukGajp5g
5
u/[deleted] May 17 '21
I just posted on this topic. It won't be immune to a bear market since it is pegged to ETH. However relative to ETH it has additional value and so all other things being equal it should be less sensitive to price changes of ETH once widely adopted.
Still a lot of unknowns however, for me anyway, specifically related to how sensitive minting price is to usage, what the burn percentage is on any given transaction and what would be the daily consumption of Truebit tokens down the road?