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24643968 No.24643968 [Reply] [Original]

For those wondering wtf happened, I'm a big name in CT and got massively burned by this, I won't be making any additional posts because I don't want to be doxxed somehow. DeFi in its current state is like a financial OnlyFans with about 10-12 TG circle jerks of a few big name CT influencers, they ALL basically PnD each other, there's like 12 simp groups moving money around from one group of incels to another, jerking off their overlord for the 'alpha'. Then a project with legitimate retail appeal shows up (like Base) and because none of these CT shills got their nice little paycheck to promote they tell everyone 'its a scam', but then the project does a 100x (like AMPL did) because normies actually pile in. CT et al. has a meltdown over missing out a real chance to cash out (their PnD shitcoins never have enough liquidity) and they go overdrive FUD hoping to shake out normies and then buy themselves, normies get shaken out but never actually come back, and CT spends the next few weeks playing hot potato seeing who can dump on who first.

>> No.24644069
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24644069

>>24643968
You're a retard that lost his lunch money in an obvious PnD.

>> No.24644213

>>24644069
You know $BASE is up 30x from its listing? Name one other coin that did better this week with high liquidity?

>> No.24644273

>>24643968
What about xBTC?

>> No.24644421

>>24644213
Keeper, 100x one day

>> No.24644424
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24644424

>>24644213
ITS did better

>> No.24644506

>>24644421
>>24644424
a quick look at the charts reveal that you're both retarded. ITS started the week at about $2, and is $17 now. Keeper started the week at $200 and is $380 now. Also, buy xBTC for the next round of gains.

>> No.24644587

>>24644506
>um no sweetie, achtually it went from $2 to almost $40, so your fud is BTFO

>> No.24644601

>>24644273
BASE was pumping for almost a week straight.

xBTC has only pumped for a day and it didn't show in the first positive rebase (in months) yet. The next one will break the bank.

>> No.24644632

>>24643968
also base fucked up pandering to alphabet people I refuse to buy anything with a rainbow

>> No.24644740

>>24644587
I get that reading is hard for you, being a retard and all....but we're talking about current price, not all time high. BASE was a hell of a lot higher earlier in the week too.

>> No.24644754

>>24644740
no bully

>> No.24644757

Are you the dog with the sunglasses or the other one witch shouts a lot

>> No.24644781

>>24644754
also, 300 ETH in the liquidity pool isn't exactly high liquidity.... imagine riding a pump coin from $2-$40 and then not having the liquidity to even cash out.

>> No.24644797
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24644797

>>24644421
99% of your base tokens will have been burned by then. it is over

>> No.24644815

>>24644740
yeah but base chart looks retarded as fuck, it's all down hill from that but if you look at ITS found its resistance and will bounce in a few days
>>24644781
looks like you don't understand a coin its a govrenance for a upcoming renaswap

>> No.24644841

>>24643968
What the fuck is CT and why the fuck should I care?

>> No.24644843

>>24644815
also $ITS has a gatway to deposit all your shitcoins you can't sell anymore and get $TITS in return

>> No.24644858

>>24644841
crypto twitter, cunts that dump on followers

>> No.24644909

>>24644815
>>24644843
you are still talking? anon....I'm not suggesting anyone buy base. if you have base you should definitely sell it as the rug is being pulled. I'm responding to the simple statement that it was the best performer this week and is still up 30x....which is true by a mile. your shitcoin didn't perform anywhere near as well as base did this week. congrats if you saw gains, but don't pretend like you just fucking made it.

>> No.24645331

I bought in assuming it was a high risk lose everything ponzi gamble. So I'm currently cascading $40 - probably half that now lol. Going to keep it in and ignore this shit for a year and see what happens. I'm sure it'll rampage again.

>> No.24645930

>>24643968
Base has no real use case.

It's literally Tether except more confusing.

Let's say the token is working as intended.

I buy 10 tokens at 60 cents, and the Coin market cap is 600 B, so it's priced correctly.

I hold my tokens for 2 weeks, CMC shoots up to 610 B.

Okay, so, the coin rebases, and tokens are deleted to make the price up to 61 cents.

That's all well and good, my tokens are now 61 cents a pop, but the same percentage of my tokens were deleted in order to up the price. Meaning that even though I can now sell each token for 61 cents, I have that exact percentage less of tokens, which means that now I have less tokens to sell by the same %, meaning I get out EXACTLY what i put in.

Tell me, why would I ever try to use this "index fund" - i'd rather hodl Tether, which is the same thing except less complicated

>> No.24646450

are you talking about the coins who's website looks exactly like a high school student's first HTML project?

https://www.baseprotocol . org/

>> No.24646600

>>24645930
>my tokens are now 61 cents a pop
See there is your mistake. The price doesn't change automatically, only supply does. The price is determined by market forces.

If a rebase nets you 30%, the price doesn't instantly shoot down 30%, rendering your gainz useless. The price will only change if people decide to cash out their supply gainz. Those that do, sell off at the initial price, making 30% gainz. The later someone is in selling, the less gainz they make, up to reaching market equilibrium (the intended peg).

Those who hold longer expect better chances for gainz after accumulating through rebasings.

>> No.24646614

>>24645930
How tf does Tether work?

>> No.24647239

BASE IS REVERSING - WARONRUGS FUDDING THEMSELVES - ALL ACCUSATIONS CLEARED HAHAHHA HERE WE FUCKING GO

>> No.24647482

>>24646600
>See there is your mistake. The price doesn't change automatically, only supply does.

I'm aware.

They deflate the same supply from everywhere.

So if the coin price should go up due to change in CMC by X percent, then X % is also deleted from my wallet.

Lets say x = 10%

10% of my, and everyone else's tokens are deleted to cause the deflation needed so that the token can rise by the same 10%

so lets go over that again in another example, this time using round 10's.

Lets say CMC is 1 trillion currently, and BASE is priced correctly, at 1 dollar.

Let's say I buy in at 1 dollar, and i buy 10 tokens. My net worth in the coin is $10.

Now lets say CMC shoots up by 100 billion, making the coin cost $1.10.

Now, to make it cost $1.10, 10% of the supply must delete. Now normally you could make a profit here with deflation, but not in this case.

See, in order to make the price go up to $1.10, 10% of the tokens EVERYWHERE are deleted, including mine.

Now its true that I can then take all of my tokens and sell them for $1.10 a pop, but I only still own 90% of the tokens that i initially bought, as 10% were deleted.

So it went up in price by 10%, I lost 10% of what I had, there was no net change, meaning that if i long hold BASE, and even if the CMC doubles, my holdings are cut in half to double it, meaning there is absolutely no long term gain possible if you assume that this token works properly.

The ONLY way to make gains with this coin is by a scam pump n dump where you tell everyone that they can sell their duplicated rebases for profit - which you can - and i did, if you can get out before the price drop.

But thats the thing: profiting requires getting out before the market has time to adjust. It also requires you to buy in at a low market cap of the coin, then sell to people who are getting hype trained into it. That's the ONLY profit possible from the coin and that's gone now. Long term holding, as described on their website can never yield gains

>> No.24647710

>>24643968
I hope you aren't Crypto Cobain. That loser needs to be gassed.

>> No.24648448

I just want to break even at this point. I'm down bigly

>> No.24648555

>>24647482
You severely misunderstand rebasing.

For starters, if token is pegged at 1$ but traded at 1.1$, then tokens aren't deleted but *created*. They create additional 10% in everyone's wallets with the assumption that this extra 10% of supply will create selling pressure and bring the price down to 1$, as per market law. This selling pressure is people cashing out their gainz. Those that do not cash out, bet on the possibility that the price will continue going up or that the peg is going down (as per xBTC, when BTC dominance goes down).

>> No.24648765

>>24644909
BASE isn't a rugpull, just a ponzi

>> No.24648860

Better go for Rebased v2 now.. 230k supply, received 16% positive rebase an hour ago and next rebase in 3 hours. It's same as AMPL but a micro cap!

>> No.24648862

>>24643968
Show us the discord

>> No.24648984

>>24648555
Maybe you've looked at the code and know better than I do, but are you really sure this is true for all the rebase coins? For each of the ones I've known (AMPL, xBTC, BASE), I've been sitting there watching the price on Uniswap as the rebase hits and it's instant. There is no opportunity to sell the new rebase tokens at the pre-rebase price. It corrects instantly, and always to the appropriate 'target'. If that's a market effect, it's a very efficient one, executing in seconds.
Especially with BASE, which corrects to EXACTLY 0.56 as soon as the rebase hits, even if it was above $2 before. And I don't know how those guys supposedly cashing out their gains are doing it, because it doesn't seem to be possible to me.
I get how the rebase is supposed to work according to market forces in theory, but I'm not convinced in practice that's what's happening with these coins.

>> No.24649132

Is it going up anytime soon?

>> No.24649145

>>24643968
do you think this can go sub 0.01 and negative rebase there??

>> No.24649185

>>24648984
Well I'm no expert. I only learned of this shit yesterday and read xBTC whitepaper. The profit model seems to be to cash out as fast as possible after a positive rebase before the price catches its peg (not guaranteed, subject to market forces). Honestly it seems rebase does nothing but add a filter of confusion on something that consists of only speculation.

>> No.24649210

>>24648984
Oh and the price correction is probably bots. The larger the market, the faster the correction.

Besides, how could they control the price? They can't arbitrarily change the number, I think. Nobody would go along with that.

>> No.24649268

>>24646600
the liquidity pool gets rebased too, so no one needs to sell for price to change when supply does

>> No.24649399

>>24649268
>liquidity pool gets rebased too
How do you rebase liquidity lmao. You either increase or decrease it. This doesn't affect the price.

>> No.24649429

>>24649185
>>24649210
I'm not convinced. But I think we need someone with the technical expertise to look at the code or trawl through Etherscan or something to weight in on this. It seems to me it should be possible to keep the marketcap constant while adjusting supply, which would have the affect of changing price. But that's just an assumption.

>> No.24649437

So I should just say goodbye to the $10000 that I put in 2 days ago right??

>> No.24649441

>>24649399
Here's how: you have a pool with a 100 xbtc and 10 eth. Each eth is worth 10 xbtc. Then there's a positive rebase of 10% and you end up with 110 xbtc to 10 eth. Therefore, each eth is worth 11 xbtc. Get it?

>> No.24649551

>>24649441
But the liquidity pool doesn't determine the prices. Buyers and sellers do. Maybe only if market exhausts the liquidity pool, does it start to affect the price.

IF IT DID affect the price, what would then even be the point of investing in a rebase token? There would be no profit model.

>> No.24649713

>>24649551
>But the liquidity pool doesn't determine the prices
It does determine price. It's an AMM.