German scamcoin Lition has been renamed SHITION

[Anonymous No.23094931]

>mainnet released price dumps
>liquidity added price dumps
>new use case announced price dumps

[Anonymous No.23095025]

Price is dumping as we speak btw

[Anonymous No.23095040]

Yes it's the Dump Special Incentive launched as part of the rebranding to Shition

[Anonymous No.23095158]

Please go back to school. Seriously, how long have you been in this space? Haven't you learned about bitcoin and how it affects all other coins? Haven't you learned about the correlation to the stockmarket? Haven't you learned about tokenomics and the valuation of utility tokens? Current price is fine. It will rise. Fundamentals are still the same.

[Anonymous No.23095224]

>>23095158
You think he doesn't know?

[Anonymous No.23095225]

>>23094931
based SHITIONposter

[Anonymous No.23095411]

Frens can someone explain how the price is controlled on uniswap? Not just for Lit but on general. I know this is a dumb question but I'm dumb. IDEX price is based on buy and sell orders. But uni is just a swap? So if 90% of trades are on UNI then what makes the price go up or down.

[Anonymous No.23095454]

>>23095411
It's based on the ratio of the assets in the pool. Let's say it's LIT/ETH. When someone buys LIT, they are putting more ETH in the pool and taking some of the LIT out. When someone sells LIT, they are taking some ETH out of the pool and putting some LIT into it. The price is determined by the ratio, and that initial ratio was set by whoever started that particular asset pair pool on Uniswap when they first pooled the two assets.

[Anonymous No.23095523]

>>23095454
Thanks fren. So say originally the pool was 1ETH =$1k and 500 LIT = $1k (1:1) Then someone bought 250 LIT. So now the pool is 1.5 ETH and 250 LIT (6:1?). What is the price now?
And does the uniswap price affect the price on idex?

[Anonymous No.23095551]

It's not 6:1 is it fren. What is it?

[Anonymous No.23095684]

>>23095523
Just go to uniswap and see what the price is. To see it you can choose to swap usdt for lit and then you can see the amount of usdt per lit.

[Anonymous No.23095702]

>>23095523
1 ETH = 500 LIT
LIT = 0.002eth
1.5 ETH = 240 LIT
LIT = 0.006eth

It does effect the price on idex and other exchanges as arbitrage traders will buy LIT on idex at the lower price and sell on uniswap for profit which raises the price on idex and lowers it on uniswap until they are the same.

[Anonymous No.23095719]

>>23095684
I'm not asking what the price is I'm asking how it works

[Anonymous No.23095727]

>>23095702
*250 LIT

[Anonymous No.23096228]

>>23094931
lition is the worst investment of my life

[Anonymous No.23096231]

arbitrage with those gas fees is impossible

[Anonymous No.23096592]

>>23096228
The worst investment of your life, so far.

[Anonymous No.23096664]

>>23096592
kek

[Anonymous No.23097341]

>>23095719
I'll try to explain it as simple as possible fren.
Open uniswap, go to pair analytics and look for the ETH/LIT pair.
Other exchanges use the order book to determine the current price (last price token bought/sold at)
On uniswap we don't have an order book though. All we have is a pool of tokens that traders deposit which earns them passive income via trading fees.
On the page you just opened, take note of the following data :
1 LIT = 0.00034 ETH
1 ETH = 2912 LIT
545585 LIT and 188.40872 ETH are pooled in total.
When somebody swaps their ETH for LIT, they generate demand which is visible on the ratio of the tokens to each other. The more LIT is taken out of the pool, the more ETH is put in in its place.
The bigger the order is that's executed, the more the price can slip, as the lower/higher the amount of pooled tokens is, the less/more the ratio of these tokens to each other will shift.
So how do we get the price? Simple.
If we divide the 545585 LIT and the 188.40872 ETH in the pool, we get 2912.
That tells us, that 1 ETH will get you 2912 LIT tokens.
Let's switch it up: 188.40872/545585 = 0,0003453333944
This means 1 LIT will get you 0,000345 ETH, and the market price of that eth is currently sitting at $0.11, which means 1 LIT = $0.11
This is where traders come in again, as the ratio of the tokens on uniswap shifts, you'll be able to swap LIT for discount ETH, and sell it for profit on other exchanges. This is how the price will remain constant across all these platforms.
Good luck fellow brainlet

[Anonymous No.23097704]

>>23097341
This actually turned into a based thread.

[Anonymous No.23098144]

>>23097704
Lition still shit tho

[Anonymous No.23098185]

>>23098144
COPE

[mikefromcrash No.23098415]

>https://etherscan.io/token/0x763fa6806e1acf68130d2d0f0df754c93cc546b2?a=0xd976d89eed294c79a796fb00adf3ba7113759d20

enjoy getting dumped on every single day prabeesh gang

>noooooooooooo mike stop fudding my investement
no tell the team to stop selling everyday and bringing the price down
you will see the real dump next week when they announce a nothingburger and avoid answering any real questions like :
-why there is a function like "litsentbymistake"?
-why it always addresses with this function are selling in idex and uniswap for the past 2 months?
-if they say it not them selling so who is selling from "litsentbymistake"? they are the only one who can call that function
-how much tokens they still hold of shition after all those dumps?
-why didn't they make the otc deals with early investors like Richtard promised?
-why is only one person controlling all the early investors addresses when the team always refer to them in plurial?
-why all the lies?
-why is Richtard gay?

[Anonymous No.23098456]

>>23098185
BTFO from >>23098144
dubs of truth