dusty.pls retweetledi
"New coin destroyed billions of dollars of wealth!" New coins launch, the prices go up, then down, and headlines get issued everywhere People look at the market cap chart and pretend that it's a real value that can be destroyed, like an account balance or something. It is not.
Richard Heart tells you the truth while others lie to you.
Let me prove it to you real quick. You launch a coin running pump.tires. You buy your coin. The price goes up!. You sell your coin. The price goes down. OMFGWTFBBQ VALUE DESTRUCTION! THE MARKET CAP USED TO BE HIGHER! WHO CAN I CALL TO SOLVE THIS! But all that actually happened was you made something, bought it, then sold it. In this example, was there actually any value creation or destruction at all?
Perhaps some headlines should read, people buying stupid things to dump on others instead get dumped on themselves. If people would buy better things instead of worse things, the world would be a better place.
Further protips regarding marketcap. Example. A coin is created with 100 supply. It has an active free market and is priced at $1 a coin. The market cap is thus $100. The coin has an admin key. The dev inflates the supply 10x. The market cap is thus increased by 10x. Was value created? The dev burns the coins and the supply goes back to 100. Was value destroyed? A whale buys the price up 10x and sells it down 10x in the same transaction. No one could sell into his buy. The price chart shows the price going up 10x and then back down. Headlines about massive value destruction?
TLDR; It would be great if people quit lying about what market caps are and what they mean. I've given you all the education multiple times, after these very many years you have to wonder weather people are not too smart, or they just haven't been exposed to my free education.
P.S. You don't have to buy stupid things. You can buy smart things.
P.P.S. The coins the pump.tires code generates don't have admin keys and so can't ever increase in supply once they've graduated to PulseX.
English
