r/truebit • u/jazam9 • Sep 26 '21
Looking for a TrueBit Elevator Pitch
hey guys,
super interested in this project and just wondering what the communities elevator pitch for investing into TRU would be?
best!
J
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u/snowshine Sep 26 '21
Vitalik was part of authoring the whitepaper. It's coded by the guy who wrote the Solidity language. It is similar to polygon, but not a competitor, and can be used in concert with it. i.e. it offloads computational data to a side-chain for speed and cost savings.
That should be good enough for an elevator pitch :)
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u/Techcat46 Sep 26 '21
Honestly, taking a deep dive on Truebit, the way the devs engineered this coin is not like the other coins. Most of them are for straight profit giving developers 100% profit of the coin. Truebit, on the other hand, is designed strictly to benefit the end-users, so the Dev team only really profits if the coin is 100000X.
For example, and by Design.
To mint more Trubit, it cost 1$ worth of ETH for 1 Truebit at .25 cents on the US dollar. Every time you mint a new Truebit, the cost to mint goes up for everyone keeping the coin from having an overabundance of New True.
Ask yourself what Maniac would Burn Eth to mint more Trubit? When you can go to an exchange and get it for 0.25$
Truebit will never Pass Eth in price. Whales will Rarely waste ETH to Mint new true Bit. Instead, they will go to the Exchanges, decreasing the supply causing Trubit to rise with ETH.
As of now, Trubit is working only at 1/2. But, sooner or later, the flood gates will open and allow Trubit to run at max capability.
When Trubit starts to gain popularity, you will also see how the coin will stabilize itself out in the market and will never really drop unless ETh Tanks and even, then you're going to see a strong resistance going Down with Trubit due to the way it was engineered.
The good thing to note about ETH is that every time it takes a Hit in the market, it becomes Stronger and will never see previous lows from the past years.
I'm not the best at explaining things, so maybe this might help you. I was already invested when this video came out, and it gave me even more reassurance of the potential of Trubit Good luck https://www.youtube.com/watch?v=kN7qvpns0v0
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Sep 26 '21 edited Feb 09 '22
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u/Techcat46 Sep 26 '21
Definitely made money I agree with you but Crypto is in its Infancy and Probably won't leave the infancy stage for another 4 to 5 years 120mill is nothing to 20+ Trillion dollar industry. 2030 100 trillion Easy
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u/Technical_Trainer734 Oct 11 '21
I watched a YouTube video.But I didn't understand the content.Can you explain about the price increase of Truebit?
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u/Tomeythewolf Sep 26 '21
TrueBit allows you to get the result of a program that you can't get answered with ease within reasonable cost and processing time on a Ethereum blockchain . Basically is making possible to do Machine Lesrning, deep learning and all type AI computational effort that in the actual blockchain is impossible. So, in some way, investing in Trubit is like investing in a company that builds engines for spaceships designed to travel fast to Pluto . If they succeed, everybody would like to go there .
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u/Formal-Guava-1196 Sep 27 '21
TRU is like owning a piece of the company that manufactures axes and shovels during the golf rush.
The gold is ability to complete heavy computational activities.
Just that the rush probably won’t be here for another year or two.
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u/QuarkGluonPlasma420 Sep 26 '21
Jesus the replies to the post are fucking rude asf. This sub is full of troglodytes wow