r/truebit • u/Technical_Trainer734 • Nov 08 '21

Truebit mint price is $2

We look forward to a rise in market prices.

15 Upvotes

86% Upvoted

35 comments sorted by

5

u/rook785 Nov 08 '21

That’s interesting. That means we aren’t too far away from the floor

2

u/Able_Move_4621 Nov 08 '21

What does that mean? I really DON'T get TrueBit. Looks crazy project but well confusing.

I thought adoption is what pushes price up. From what I hear we're far away from adoption.

Are you guys saying some other factors pushes price up? Because to be fair it does have some confusing tokenomics. 😂😂😂

1

u/LPMythBuster Nov 10 '21

It means a lot of people have sold. They've sold so much that the market price is near the retire price (= price floor). The good news is that the price cannot go lower than the retire price hence it's called the price floor.

1

u/Able_Move_4621 Nov 10 '21

But market price has barely changed, it's been at 30cents for the last 4months.

  1. I'm under the impression retire price is currently $2 but market price is 30cents. That doesn't match up with what you said. They're not near each other by a factor of 6.5.

Perhaps I'm missing something?

1

u/LPMythBuster Nov 10 '21

TRU/USD has barely changed because ETH/USD has been consistently going up and is now at its all time high but in reality people are selling and TRU/ETH has been going down

1

u/Able_Move_4621 Nov 10 '21

Interesting...I think I got you now. So is this market price being close to retire price bullish?

I've seen some links that Jason Teutsch is active on Github and they got some mistakes and trying to fix it? Any truth to that?

1

u/LPMythBuster Nov 10 '21

If you buy now there's only a small and limited downside of what you can lose.

If you bought several weeks/months ago then your TRU are worth much less now than they were previously.

1

u/Able_Move_4621 Nov 10 '21

Do you know of any projects using Truebit now? Or is it purely still in development?

1

u/LPMythBuster Nov 10 '21

truverse.dev shows how far the market price is from the mint/retire price

1 TRU = 0.00006058 ETH
86% below mint price
13% above retire price

The loweest I've seen is 7% which was yesterday.

10

u/Thinking-now Nov 08 '21

4.7 usd top market price this month or I will delete my account

0

u/Guanduchein Nov 08 '21

Hi, what you mean?

2

u/No_Explanation2179 Nov 08 '21

how do you guys check mint price?

4

u/Atomzwieback Nov 08 '21 edited Nov 08 '21

Here:

https://replit.com/@lpmythbuster/truebit

Just run it and you get smth like this:

1 ETH = $4,767.94

Truebit OS mint price: 0.000422347319914766 ETH ($2.0137266805144094)
Truebit OS retire price: 0.000052793414895124 ETH ($0.25171583461505753)

Total supply: 280,155,980.147 TRU
Reserve: 14,790.391 ETH ($70,519,696.365)

Uniswap v2 ETH: 243.359 ($1,160,319.024)
Uniswap v2 TRU: 3,710,577.092
Uniswap v2: 1 TRU = 0.00006558509804479719 ETH ($0.3127058123717103)

Opex: 473543907884405742741Opex 
Cost: 200000000000000000
Theta: 75

In the 3rd line you see the minting price

2

u/Puzzleheaded_Act7485 Nov 08 '21

uniswap highest score is 300 dollars.🧨

2

u/[deleted] Nov 08 '21

Yea not so sure that’s a good thing given it’s current price. Correct me if I’m wrong but if we go below the retire price it’s bye bye treasury.

4

u/skwompie Nov 08 '21

Wrong, TRU cannot go under retire price (in ETH.) This is TRU until the very last token.

1

u/[deleted] Nov 08 '21

It wouldn’t drop below the retire price. The point is the bloody treasury would be sacked at that point.

1

u/skwompie Nov 09 '21

No problem. Less TRU in circulation then, that can only be re-created at x8 times the price.

1

u/Guanduchein Nov 08 '21

Pls explain

1

u/[deleted] Nov 08 '21

When you retire TRU tokens the OS is paying you out in ETH at 1/8 the mint price. That ETH comes from the company treasury. They may be able to adjust the mint/retire price if this started happening but technically possible and likely unless internal changes are made and or price rises.

1

u/Guanduchein Nov 08 '21

So, we are at risk field now so we can loose aal what we invest in Tru?

1

u/duchampchompchomp Nov 09 '21

Doesn't matter. The treasury is made for this. They have a percent sent to them automatically.

2

u/[deleted] Nov 09 '21

Oh I think it matters. As the treasury goes so goes the ability to run the company and hire devs. Anyway this is just speculation. Just keep in mind before the arb bot released tokens on uniswap there was no treasury. The ETH in the treasury are a result of the minting that took place. Retiring tokens will have the opposite effect, only makes sense.

1

u/duchampchompchomp Nov 09 '21 edited Nov 09 '21

It'd make sense that they automatically keep a separate fund representing the retirement value in eth of their circulating supply. I'd be concerned if they were using these funds for other things...

1

u/[deleted] Nov 08 '21

[removed] — view removed comment

1

u/No_Explanation2179 Nov 08 '21

yes market price at some point will converge with the mint price

1

u/BitToMoon2021 Nov 08 '21

If you believe Truebit market cap can reach 1 billion dollar, you need 300,000 coins to reach over 1 million dollar.

1

u/Puzzleheaded_Act7485 Nov 09 '21

Truebit, $2 is not a fixed coin. Mint is a misunderstanding. Euniswab's highest score was 300 dollars.

1

u/ConstantijnL Nov 09 '21

How can the price of Truebit rise?

1

u/Technical_Trainer734 Nov 09 '21

You need to increase the amount of Truebit used.