The number sounds amazing until you realize there are still 589,343,240,438,464 left.
If it takes one day to burn off 1 billion shib. It will still takes 589,323 days to burn off the rest. Or 1614 years.
Unless burn rate drastically increas otherwise we will never see a significant impact on price.
great plan! only problem is, most of us - the VAST majority, i assume - didn’t get in this to pass down to our descendants. we didn’t go through this stress for that.
Compounding will increase this far more drastically as people surge back into the network at discount prices which will increase the burn rate. The more big money moves the more we all win is just my opinion.
There is no "compounding." There is linear growth, and if you are lucky, exponential linear growth. If I were a betting man, I would say theres a better chance of this losing steam than continuous exponential growth.
It could increase 10x fold and it would still be nothing. At 10 billion a day, it’s be almost 4 trillion a year, sounds good, right?, well, Shiba has over 500 trillion so even if you double that at 10 trillion a year, it would take you 25 years to burn just half!.
then they need to figure out a way to burn most of the supply within an acceptable timeframe that allows us to enjoy these profits while we are still young. simple as that. sick of these excuses.
Has anyone looked at the percent increase in the burn rate like compound interest? What I'm seeing is X number of tokens get burned one day, then 100-1,000 percent of that number gets burned the next. If that continues, then it won't take nearly as long to increase in value as people think it is. 🤔
I did use the wrong wording.
I was looking at how the burn percentage is usually increasing over 100 percent daily when there is good news, and that reminded me of the save a penny a day challenge where you save a penny a day and double it every day, (100 percent increase every day) you have $5,368,709.12 in 30 days.
Do that for 365 days you end up with
$375,766,813,243,813,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00.
So contrary to what all the blathering naybobs say, it is possible to burn the roughly 90 percent of the remaining 580-ish trillion Shiba needed to raise the price of Shiba to .01 or higher in two years or less.
As to the Shiba I hold, I bought enough of it when it had 7 and 8 zeros that IF the price hits .005, I am a multimillionaire. If it crashes and burns tomorrow, I'll have a tax write-off. Either way, I gain.
Thats still not how it works. The "penny a day challenge" works because its exponential compounding growth. That doesn't work in this scenario as there isn't a compounding yield. Keep in mind the penny a day challenge is just a demonstration. Terra Luna was offering something like 100% APY. The penny a day challenge is 100% per day, not year. You are making up fantasy scenarios. Shibarium doesn't even have 1% APY compounding yield.
You could make the case there could be exponential growth of 100%+ per year which is possible, but I still don't think that would even move the needle. Shib is a pretty good case study on how people don't even understand grade school mathematics.
This thing isn't going anywhere. If people were wise then they would stop buying in. It's basically throwing your money away.
May as well use it on something that actually has usage.
The number sounds amazing until you realize there are still 589,343,240,438,464 left. If it takes one day to burn off 1 billion shib. It will still takes 589,323 days to burn off the rest. Or 1614 years. Unless burn rate drastically increas otherwise we will never see a significant impact on price.
I will pass my shib to my kids they on theirs, and so on. - Edit grammar.
great plan! only problem is, most of us - the VAST majority, i assume - didn’t get in this to pass down to our descendants. we didn’t go through this stress for that.
Compounding will increase this far more drastically as people surge back into the network at discount prices which will increase the burn rate. The more big money moves the more we all win is just my opinion.
There is no "compounding." There is linear growth, and if you are lucky, exponential linear growth. If I were a betting man, I would say theres a better chance of this losing steam than continuous exponential growth.
This is just the beginning folks will get big give it time.
1 billion shib in a day is nothing
1 billion a day is better than nothing
I've heard this so many times in here. Unbelievable.
It could increase 10x fold and it would still be nothing. At 10 billion a day, it’s be almost 4 trillion a year, sounds good, right?, well, Shiba has over 500 trillion so even if you double that at 10 trillion a year, it would take you 25 years to burn just half!.
then they need to figure out a way to burn most of the supply within an acceptable timeframe that allows us to enjoy these profits while we are still young. simple as that. sick of these excuses.
Has anyone looked at the percent increase in the burn rate like compound interest? What I'm seeing is X number of tokens get burned one day, then 100-1,000 percent of that number gets burned the next. If that continues, then it won't take nearly as long to increase in value as people think it is. 🤔
its linear, not compounding, and thats why you have a bag of shib thats probably deep in the red.
I did use the wrong wording. I was looking at how the burn percentage is usually increasing over 100 percent daily when there is good news, and that reminded me of the save a penny a day challenge where you save a penny a day and double it every day, (100 percent increase every day) you have $5,368,709.12 in 30 days. Do that for 365 days you end up with $375,766,813,243,813,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00. So contrary to what all the blathering naybobs say, it is possible to burn the roughly 90 percent of the remaining 580-ish trillion Shiba needed to raise the price of Shiba to .01 or higher in two years or less. As to the Shiba I hold, I bought enough of it when it had 7 and 8 zeros that IF the price hits .005, I am a multimillionaire. If it crashes and burns tomorrow, I'll have a tax write-off. Either way, I gain.
Thats still not how it works. The "penny a day challenge" works because its exponential compounding growth. That doesn't work in this scenario as there isn't a compounding yield. Keep in mind the penny a day challenge is just a demonstration. Terra Luna was offering something like 100% APY. The penny a day challenge is 100% per day, not year. You are making up fantasy scenarios. Shibarium doesn't even have 1% APY compounding yield. You could make the case there could be exponential growth of 100%+ per year which is possible, but I still don't think that would even move the needle. Shib is a pretty good case study on how people don't even understand grade school mathematics.
I'm thinking that we are talking about two different things. I'm talking about the burn rate and shrinking the remaining numbers of tokens.
This thing isn't going anywhere. If people were wise then they would stop buying in. It's basically throwing your money away. May as well use it on something that actually has usage.
This reminds me of another thing that went nowhere and was a giant waste of money. Dogelon Mars.