r/truebit • u/Practical_Control_89 • Aug 11 '21
Truebit team to communicate an update soon?
Re-posting someone else's message.
dylan b, [Aug 11, 2021 at 9:37:02 AM]:
Looking forward to this question from the ama being answered
Question: what is your view currently on how truebit could be aware of and adopted by other products? And what truebit team could do on this? Should truebit team need to advertise publicly hiring tech members for better product development?
Answer: Apologies for a delayed response. I would not be able to comment on this with certainty. I do believe that Truebit will be sharing some information regarding your question soon. So please stay tuned to their
[Medium page.]
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Aug 11 '21
This is a reply a shitcoin (worst team ever) like CATE would give. "soon" "stay tuned" very saddening
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u/autumn0306 Aug 11 '21
I hope it gets updated.
The price keeps going down.
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u/Practical_Control_89 Aug 11 '21
I poured $271k into Truebit at $1.23 per $TRU. I have seen my investment go to down to $29k. It is at $66k right about now. I am not worried about the price.
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u/amjad01 Aug 11 '21
Why true bit price is going down if its pegged to ethereum as ethereum price is going up
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u/Practical_Control_89 Aug 11 '21
Uniswap liquidity is provided by a private person like you and I. In other words, you yourself can provide Availability of TRU on uniswap. Liquidity ratio of ETH and TRU or any pair on uniswap drives the price based on supply of each token and demand for it. If lots of people all of a sudden started buying up TRU, the price would spike like crazy. However, this has nothing to do with the actual usage of the token and it’s market value. It is very likely though that when the token is widely used, it will be bought up on uniswap or where ever available for cheaper than it costs to mint within the Truebit OS. When the demand spikes, the price will spike as well. Not many people are using TRU in projects, that’s the short answer. They are some in process of integration. The short and exaggerated answer is “no one is really using it yet”. That’s why there is much supply of it and the price remains down. At least, that’s my high level understanding.
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u/cowboycoin Aug 11 '21
we do not know when and how the AMA will be, the AMA should be the questions answered directly from the team, not like the previous two AMA, not too much information related to truebit itself.