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Watching the Train Wreck in Slow Motion



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12-07-2021 04:34
IBdaMannProfile picture★★★★★
(9570)


HarveyH55 wrote:Could SafeMoon be failing, because they are trying to be legitimate, in a scam environment?

No. Not by a long shot.

1) In economics, the principle of time value of money and of opportunity costs tells us that the higher the risk, the greater the rewards and conversely, the lower the risks the lower the rewards. Safemoon promises unlimited return on investment in very short time with zero risk. Every day there are people who fall for this for some reason.

If you look at Safemoon from an economics perspective, i.e. in terms of the supply-demand curve, there is nothing within the model to cause the price realized by Safemoon tokens to increase. Yet, at the onset of all pyramid schemes, the price does rise initially. This is because demand is artificially generated based on the inherent, albeit uninformed, profit motive of those gullible enough to buy into the scam without first learning all they need to know to make an informed decision. This is why all pyramids ultimately collapse, i.e. they are based on effective deception and don't produce anything of any inherent value.

2) To be a currency, the total quantity (total circulating supply) must be controlled per economic principles ... and not simply determined by the whim of some individual or group ... and if it is a cryptocurrency then it must have its own blockchain accounting, period. Safemoon, on the other hand, will not disclose its total quantity because the Safemoon directors control the quantity sold on their whim ... because it is a pyramid. Also, Safemoon does not have its own blockchain accounting ... because (pay attention to this) the Safemoon directors sell (worthless) tokens initially to make $billions and then systematically reclaim those tokens, converting them to other legitimate cryptocurrencies on the same common blockchain so that they will retain/increase in value while Safemoon collapses as planned.

3) Currencies are intended to facilitate transactions. Safemoon, however, is marketed only to be held and penalizes any and all transactions with a 10% fee. This is the antithesis of a currency and represents a major economic contradiction. Safemoon holders quickly realize that the 10%-per-transaction penalty prevents them from cutting their losses and getting out. You can buy into Safemoon but don't ever try to leave. Any who are desperate and stupid enough to leap before they look will find themselves in a position where they feel obligated to hit up their friends and family to join the scam and to even post on Climate-Debate praising the virtues of Safemoon. Meanwhile Safemoon's price plummets down, down, down down, down ......

HarveyH55 wrote: The transaction fees are a killer to deal with.

4) That of utmost importance to the Safemoon directors is that those who fall into the pyramid ... that they never leave. Ergo they levy a 10% penalty on every transaction. There is no merchant who will suffer any 10% penalty just to prop up a pyramid. As such, since there is no possibility that Safemoon will ever be used as a currency, any "investor" who buys into the Safemoon pyramid under the assumptioon that he will get rich via the regular usage by others of the Safemoon currency ... is a totally gullible schlep.

5) The supposedly established "white paper" that is supposed to explain unambiguously the tokenomics (exact economics and math) of the Safemoon blockchain ... is nothing but a totally vague piece of propaganda hype ... that keeps changing daily.

HarveyH55 wrote: The lack of instant-gratification investors, who aren't willing to wait out the first 3-5 years.

Exactly. Those who are sufficiently stupid and gullible and who won't bother to independently research anything, they will gift their cash to anyone who simply makes the best promises regarding making $millions instantly and safely.

12-07-2021 09:02
Xadoman
★★★☆☆
(546)
Harvey, the whole crypto is down at the moment. Bitcoin went down and took the whole cryptoworld with it. Nothing more. It is a only a matter of time when it will rise again and will hit a new all time high. Being patient in the cryptoworld is a key to success.
12-07-2021 11:58
IBdaMannProfile picture★★★★★
(9570)
Xadoman wrote:Harvey, the whole crypto is down at the moment.

Safemoon isn't a cryptocurrency. It is a pyramid scheme disguised as a cryptocurrency. Safemoon's inevitable collapse is due to it being a pyramid scheme and not because Bitcoin somehow had a bad day.

Safemoon tokens are worthless. Nobody can point to any reason Safemoon tokens will ever amount to anything other than a financial loss.

Safemoon price was strictly above $0.0000034 just two weeks ago. These past couple of days, the price is strictly below $0.0000030. Let's see how Safemoon is faring by next Sunday.

Xadoman wrote: Being patient in the cryptoworld is a key to success.

Nope. The key to success is to be the creator of a cryptocurrency, not a buyer into one.


12-07-2021 17:54
gfm7175Profile picture★★★★★
(2313)
The good news for Xadoman is that Safemoon, since the early morning of yesterday, appears to be holding steady in the $0.0000029XX range. The bad news for Xadoman is that the overall trend over the past week (and number of weeks) has been downward with no indication of going upward [above $0.0000030XX]... poor Xadoman... the pyramid is collapsing upon you... the Jaws theme music is growing louder and faster...
12-07-2021 18:32
IBdaMannProfile picture★★★★★
(9570)
gfm7175 wrote:The good news for Xadoman is that Safemoon, since the early morning of yesterday, appears to be holding steady in the $0.0000029XX range.

... except that $0.00000296 (40 SPUs below) seems to be the new "line of scrimmage." There is no more dancing around $0.000003 because now almost all activity is under the $0.00000296 number, which is more or less what I had anticipated would be the case. I plan on checking tomorrow to see if we have a new line of scrimmage at $0.00000292 (i.e. another 40 SPUs lower). Of course I am expecting a new baseline of $0.0000028 by Sunday (July 18th).

gfm7175 wrote: The bad news for Xadoman is that the overall trend over the past week (and number of weeks) has been downward with no indication of going upward

Correct ... nor is there any economics reason that would give anyone reason to expect Safemoon tokens to suddenly acquire any sort of worth. Pyramids generate artificial and temporary value by playing on people's greed and laziness. The interest, and hence the fleeting value, soon disappear once it is realized that there is nothing of value to make any "investment" grow.

Let me ask you, if you were to successfully make it to the moon, how rich would you be? Would you wish you could leave and just come back down to earth?




12-07-2021 21:15
gfm7175Profile picture★★★★★
(2313)
IBdaMann wrote:
Let me ask you, if you were to successfully make it to the moon, how rich would you be? Would you wish you could leave and just come back down to earth?

Yes.

Anddddddd we're back down into the $0.0000028XX's... $0.000002843 atm of this typing... Safemoon WAS at the line of scrimmage but now just took a sack. Damn....
13-07-2021 05:32
IBdaMannProfile picture★★★★★
(9570)
gfm7175 wrote:Anddddddd we're back down into the $0.0000028XX's... $0.000002843 atm of this typing...


Well, it's now official ...


Safemoon has dipped into the $0.0000027XX territory. At 14:40:09 on Monday 12 July 2021, Safemoon entered an erratic price freefall and at 17:05:08 the price hit $0.000002786. After about 45 minutes of violent fluctuations, Safemoon's price was another 2 SPUs lower at $0.000002784 before returning to dance around the lower part of $0.0000028XX territory.

I firmly believe that the brief spike/rise in Safemoon price that you noticed was the Safemoon directors manipulating the price to sell previously reclaimed tokens to new gullible buyers. Once such selling is complete, the directors allow the price to fall is it will so that they can resume buying/reclaiming tokens from those who decide to eat the 10% penalty just to cut their losses. This allows the directors to buy a fresh supply of tokens at a new low bargain-basement price ... with a stiff 10% discount to boot, before turning around and repeating the process of offering those same tokens for sale at an artificially inflated price, which anyone can discern from the steep but very temporary upward price spikes.

Ergo, I believe you witnessed the price surge associated with the directors selling reclaimed tokens and once their selling was complete ... well, you can look at the Safemoon price ticker and see for yourself. Boy did it plummet ... and you thought you were watching a meteorite! Nope. That was just Safemoon trying on a different pair of concrete shoes.
Attached image:


Edited on 13-07-2021 05:34
13-07-2021 17:02
gfm7175Profile picture★★★★★
(2313)
IBdaMann wrote:
gfm7175 wrote:Anddddddd we're back down into the $0.0000028XX's... $0.000002843 atm of this typing...


Well, it's now official ...


Safemoon has dipped into the $0.0000027XX territory. At 14:40:09 on Monday 12 July 2021, Safemoon entered an erratic price freefall and at 17:05:08 the price hit $0.000002786. After about 45 minutes of violent fluctuations, Safemoon's price was another 2 SPUs lower at $0.000002784 before returning to dance around the lower part of $0.0000028XX territory.

BAM! And there's that dip down below the "28" baseline that we were looking for. Safemoon is still on a downward slide and currently camping right in that lower to mid $0.0000028XX range ($0.000002840 atm), only 40 SPUs above the downward adjusted baseline...

IBdaMann wrote:
I firmly believe that the brief spike/rise in Safemoon price that you noticed was the Safemoon directors manipulating the price to sell previously reclaimed tokens to new gullible buyers. Once such selling is complete, the directors allow the price to fall is it will so that they can resume buying/reclaiming tokens from those who decide to eat the 10% penalty just to cut their losses. This allows the directors to buy a fresh supply of tokens at a new low bargain-basement price ... with a stiff 10% discount to boot, before turning around and repeating the process of offering those same tokens for sale at an artificially inflated price, which anyone can discern from the steep but very temporary upward price spikes.

Ergo, I believe you witnessed the price surge associated with the directors selling reclaimed tokens and once their selling was complete ... well, you can look at the Safemoon price ticker and see for yourself. Boy did it plummet ... and you thought you were watching a meteorite! Nope. That was just Safemoon trying on a different pair of concrete shoes.

I firmly believe that you are correct about this belief.

Note, in all the time that we have been closely observing Safemoon, that we have yet to observe an upward trend in price, and the "upward spike" that was observed was only a very temporary occurrence before sliding right back down again (and then some, and then some).

Sucks to be Xadoman... Oh wait, now the price slid down 3 more SPUs since my typing earlier in this response... now only 37 SPUs above baseline...


13-07-2021 17:04
IBdaMannProfile picture★★★★★
(9570)
Just so everyone is singing from the same sheet of music, I am attaching a "snapshot" of this past month's Safemoon price slide. It shows what the gravity of economics will do to price when there is no value to provide any lift.

.
Attached image:

13-07-2021 21:58
gfm7175Profile picture★★★★★
(2313)
Okay, so I am now observing the same violent upward/downward spikes that I had observed previously... Take note of this:

From Monday night around 7pm until this morning around 11am, Safemoon stayed within the $0.0000028XX range. Then, Safemoon suddenly went berserk...

At 11:10AM CST, it was at $0.000002812.

At 11:30AM CST, it shot way up to $0.000002900.

At 11:45AM CST, it shot way down to $0.000002834 (and eventually fell down to $0.000002813 at 12:10PM)

At 12:40PM CST, it shot back up to $0.000002866 before quickly dive-bombing down below the baseline to $0.000002775 by 1:20PM

At 1:30PM CST, just TEN MINUTES LATER, Safemoon apparently lit a rocket under its ass and "went to the moon", all the way up to $0.000002901 in fact. IOW, I just witnessed a whopping 126 SPU gain over a very short ten minute period of time... Then, over an almost as short 15 minute period of time, Safemoon apparently went into a frantic free fall. It finally opened up its parachute to land down at a barely above baseline $0.000002817 rate.

In short, I just wanted to make note that the same violent upward/downward swings that we saw before have happened once again today. After this short burst of very violent swings, Safemoon has now seemingly stabilized at the same low to mid $0.0000028XX area that it's been at as of lately, but I will keep an eye on this throughout the rest of today.

Your thoughts on this "eventful" period of time, IBD?


[EDIT] It appears that we aren't done with the swings yet... In another short period of time, Safemoon is going back up to the moon again ($0.000002883 and rising) ....
Edited on 13-07-2021 22:12
13-07-2021 23:33
gfm7175Profile picture★★★★★
(2313)
... and the intense back and forth continues....

3:00 PM CST -- $0.000002848 (current "normal" area)
3:20 PM CST -- $0.000002753
3:25 PM CST -- $0.000002894
3:30 PM CST -- $0.000002769
3:40 PM CST -- $0.000002855 (current "normal" area)


The "insta-crease" number that I quoted from earlier today was just topped... Now I can say that I've witnessed a 141 SPU rise in FIVE minutes (and a subsequent 125 SPU drop in the subsequent five minutes)...
Edited on 13-07-2021 23:42
13-07-2021 23:49
Xadoman
★★★☆☆
(546)
The low price is good for the volume and reflections. My bag is constantly getting bigger and bigger
. With Safemoon I am quite sure that if it moons one day I am not going to sell it anymore. There are other coins that I will sell for a quick cash but with Safemoon I am going to live out of reflections.
14-07-2021 00:12
gfm7175Profile picture★★★★★
(2313)
Xadoman wrote:
The low price is good for the volume and reflections. My bag is constantly getting bigger and bigger
. With Safemoon I am quite sure that if it moons one day I am not going to sell it anymore. There are other coins that I will sell for a quick cash but with Safemoon I am going to live out of reflections.

Keep telling yourself that...


Anddddd we're back below baseline again... 11 SPUs below...
Edited on 14-07-2021 00:13
14-07-2021 00:54
gfm7175Profile picture★★★★★
(2313)
... and the last almost an hour has seen Safemoon hovering right around the current baseline value (a bit above or a bit below). $0.000002803 at the moment... Still on an overall downward trajectory......
Edited on 14-07-2021 00:56
14-07-2021 02:38
IBdaMannProfile picture★★★★★
(9570)
gfm7175 wrote:Your thoughts on this "eventful" period of time, IBD?

The Safemoon directors made a killing initially by selling worthless tokens. Stupid/Gullible people paid good money for digital bits that are not backed by anything of value. Their willingness to pay good money, however, established the appearance of value/demand and established the appearance of a "market price." Now, with the directors able to buy at whatever low price minus their built-in 10% penalty, and then resell those tokens at an artificially higher price ... without paying any penalty themselves ... they keep making big money as long as there are new people coming into the pyramid.

The violently erratic price swings indicate new people coming in and the directors making some big money. As Safemoon's price keeps getting lower, it becomes easier to sucker dimwitted fools into joining the pyramid with the line "Safemoon price is at an all-time low and it is on the cusp of a HUUUUUUUGE price jump so you would be wise to get in now before the price shoots through the roof! Heck, you might even triple your investment before lunchtime tomorrow."

What you were watching were stupid but excited people buying in, expecting to shoot the moon ... without ever asking how that is even possible. You witnessed stupid people who rushed to take advantage of a zero-risk/infinite reward opportunity in which they have already decided what "make it" car they are going to buy, and in what mansion's garage they will park it, when their investment increases 1,000x.

Safemoon Price Update

Current Price: (coincidentally, exactly at baseline) $0.0000028
24-Hour High: $0.000002901
24-Hour Low: $0.00000274
Attached image:

14-07-2021 03:19
IBdaMannProfile picture★★★★★
(9570)
I announced when Safemoon breached 27XX territory, which happened yesterday for the first time at 14:40:09 when Safemoon price hit $0.000002786.

Today, Safemoon price seemed to be kneading 27XX territory like a cat getting comfortable.

@ 14:00:08 - $0.000002797
@ 14:15:11 - $0.000002780
@ 14:20:09 - $0.000002775
@ 16:10:08 - $0.000002771
@ 16:15:09 - $0.000002755
@ 16:20:06 - $0.000002753
@ 16:30:07 - $0.000002769
@ 16:50:06 - $0.000002782
@ 17:15:07 - $0.000002789
@ 17:20:09 - $0.000002792
@ 17:25:07 - $0.000002783
@ 17:30:06 - $0.000002792
@ 17:35:07 - $0.000002796
@ 17:40:07 - $0.000002784
@ 17:45:07 - $0.000002789
@ 18:20:08 - $0.000002798

What will tomorrow hold? ... I mean "hodl"?

.
Attached image:


Edited on 14-07-2021 03:29
14-07-2021 10:47
Xadoman
★★★☆☆
(546)
Too funny, you guys rant over a piddle price flutcuation. I want to see how both of you will cope when the price goes 10x, 100x , 1000x. This is going to be an epic copefest never seen before on this site. Most probably we will see you guys screaming "pyramid scheme, pyramid scheme" all day along

For others who want to be millionaires. Safemoon is holding on quite good in the current bearish situation. For example, the Bonfire has come down 10X for me from ATH( all time high). It was 6000 at some point and now it is 500. You see, I am not crying over this price fluctuation. My initial investment was around 800 dollars into the Bonfire.
For Safemoon the volume is up, the whales are selling and keeping the price low. They have already made it investing hundreds of thousands and picking up hundreds of millions. Their bags are emptying and my bag is growning from reflections. The tokens are burned (or removed)in this process and the number of coins goes constantly down causing for the price to go up if things are getting better in the whole crptoworld. The wyckoff cycle for Bitcoin in not quite over yet causing the whole crypto to be down at the moment. Simple as that.
14-07-2021 11:16
duncan61
★★★★☆
(1235)
Go Xadoman.I fail to understand why the its all broken clowns care about what you do with your money.I know my son bought $3000 bitcoins a few years ago and sold recently for a deposit on his first house for $45,000 and still has some left.He also buys silver and keeps it in a safe.Its not my thing but I did open an EX wallet but read how Elon single handedly lowered bitcoin value on his own and backed out.I bought new suspension and tyres for my Cherokee instead.But good luck buddy hope it works out for you
14-07-2021 12:08
IBdaMannProfile picture★★★★★
(9570)
duncan61 wrote:I fail to understand why the its all broken clowns care about what you do with your money.

Aside from you failing to see many obvious things, who do you somehow believe cares what Xadoman does with his own money?


duncan61 wrote:I know my son bought $3000 bitcoins a few years ago and sold recently for a deposit on his first house for $45,000 and still has some left.

I take it that you fail to see how Safemoon is not Bitcoin. I take it that you fail to see how a pyramid scheme is not a legitimate cryptocurrency.

Just go right on believing that everything is the same. In fact, 14 July is starting off with Safemoon entirely below $0.0000028 ... at least for the first six hours. Duncan, Safemoon price is at an all-time low and is on the cusp of an historic surge like never before seen in cryptocurrency. You should get in before the price climbs into the stratosphere. You might even triple your investment before lunchtime tomorrow!

duncan61 wrote:He also buys silver and keeps it in a safe.

Your son hasn't made any money on Safemoon. Ask me how I know.

duncan61 wrote:But good luck buddy hope it works out for you

You obviously have not been following along. In what way can the collapsing Safemoon pyramid work out for him?

I'll post Safemoon's previous month's activity for you. Feel free to mistakenly equate this with a good thing.


Edited on 14-07-2021 12:29
14-07-2021 12:35
duncan61
★★★★☆
(1235)
My son explained to me that safemoon was designed as a currency that if you bought it now that you would be able to afford to fly to the moon when Elon got it right.Its not something I would do but it would seem others failing is massaging your ego
14-07-2021 15:52
IBdaMannProfile picture★★★★★
(9570)
duncan61 wrote: My son explained to me that safemoon was designed as a currency that ...

Your son got it wrong, and hence you did too. Safemoon is a pyramid scheme and is not a currency. If you would have read this thread for comprehension you would have picked up on that.

duncan61 wrote: ... it would seem others failing is massaging your ego

I'm guessing that you were probably never very good at reading for comprehension. Read the thread again and give it another try. I lost track of the number of times I recommended Xadoman get out of the Safemoon pyramid.

Update: To participate in the (collapsing) Safemoon pyramid, the cost to enter hasn't been this low since April 18th (when it was just starting). At that time, the price shot up, as you would expect in a pyramid that is just starting, and then came the inevitable collapse, and we are watching it in slow motion, hence the title of this thread. The price thus far today has remained below $0.0000028, i.e. I am still waiting for it to rise above the $0.0000028 baseline.

Would you look at that ... in the time it took me to write this post, Safemoon dropped below $0.0000027 into 26XX territory. Apparently the cat got very comfortable very quickly.




14-07-2021 16:23
gfm7175Profile picture★★★★★
(2313)
IBdaMann wrote:
gfm7175 wrote:Your thoughts on this "eventful" period of time, IBD?

...

Now, with the directors able to buy at whatever low price minus their built-in 10% penalty, and then resell those tokens at an artificially higher price ... without paying any penalty themselves ... they keep making big money as long as there are new people coming into the pyramid.

...

The violently erratic price swings indicate new people coming in and the directors making some big money.

...

What you were watching were stupid but excited people buying in, expecting to shoot the moon ... without ever asking how that is even possible. You witnessed stupid people who rushed to take advantage of a zero-risk/infinite reward opportunity in which they have already decided what "make it" car they are going to buy, and in what mansion's garage they will park it, when their investment increases 1,000x.

In short, I watched stupid excited gullible people "buying in" while Safemoon directors made a bunch of money off of them? Got it!
14-07-2021 16:26
duncan61
★★★★☆
(1235)
So which currencies are pyramid and which ones are not?My other son apparently bought some dogecoin for fun and it has gone through the roof.I will call him tomorrow and find out the truth
14-07-2021 16:37
gfm7175Profile picture★★★★★
(2313)
IBdaMann wrote:
Today, Safemoon price seemed to be kneading 27XX territory like a cat getting comfortable.

That it did... It spent a significant amount of time in $0.0000027XX territory...

IBdaMann wrote:
What will tomorrow hold? ... I mean "hodl"?

.

HODL is right... I just opened up the Safemoon chart and couldn't believe my eyes... Safemoon has already made a dip down into the $0.0000026XX range before coming back up into its new home in the $0.0000027XX's...
14-07-2021 17:00
IBdaMannProfile picture★★★★★
(9570)
duncan61 wrote:So which currencies are pyramid and which ones are not?

I couldn't tell you. This thread is about the Safemoon pyramid collapse which is occurring before our eyes. All pyramids collapse.

If you read the thread you'll see how I have been trying to explain to Xadoman why the "cryptocurrency" disguise does nothing to change Safemoon's underlying reality of being a pyramid scheme and despite my pleas for him to cut his losses and get out, he insists on clinging to a false hope of immeasurable wealth that cannot come.

You apparently decided to join in and to goad Xadoman to just HODL (hold forever) until he has lost everything. That's awfully considerate of you. I suppose that when Safemoon is defunct and Xadoman has lost every penny, you'll congratulate him with a hearty laugh, i.e. "Look what I made him do!"

duncan61 wrote:My other son apparently bought some dogecoin for fun and it has gone through the roof.

I haven't analyzed Dogecoin.

Does it have its own blockchain or does it "ride" on some other currency's blockchain, or even "share" some other common blockchain (called "DeFi")?

What service does Dogecoin provide? What problem does it solve? What transaction fees, if any, does Dodgecoin charge?

What, exactly, is Dogecoin's "burn" function?

duncan61 wrote:I will call him tomorrow and find out the truth

Well, it would be value-added to find out the answers to the above questions, that's for sure.

14-07-2021 17:02
gfm7175Profile picture★★★★★
(2313)
Xadoman wrote:
Too funny, you guys rant over a piddle price flutcuation.

Safemoon peaked on April 20th 2021 before crashing right back down the very next day. It then climbed back up (for the most part) during the May 5th - May 15th time period before crashing right back down again by May 18th.

Ever since May 18th (iow, for the last two months, roughly), Safemoon has been on a downward trajectory (with some upward spikes, and corresponding immediate downward slides, mixed in here and there). This downward trajectory has been occurring at a quite consistent rate since about May 26th. I must rhetorically ask: How has IBdaMann been almost "prophet-like" in his "predictions" for Safemoon? (also add in the fact that Safemoon is a pyramid scheme)

Xadoman wrote:
I want to see how both of you will cope when the price goes 10x, 100x , 1000x.

I suspect that we won't ever have to worry about that. Like I said, the price peaked roughly three months ago, and for the last roughly two months now, it has been sliding in an ever downward direction. Given that fact, and given that Safemoon is a pyramid scheme, I see absolutely no reason to believe that the Safemoon price will ever go up even 2x, let alone 10x, 100x, or 1000x...

Let's see if it can even reach 2x first (or $0.0000056) before you get way too ahead of yourself with the 10s, 100s, and 1000s... Oh wait, it's wayyyyyy too late for that...

Xadoman wrote:
This is going to be an epic copefest never seen before on this site. Most probably we will see you guys screaming "pyramid scheme, pyramid scheme" all day along

Yeah, I'm not sure how you're going to cope with losing thousands of dollars gambling on a pyramid scheme because you refuse to admit that you were suckered, walk away, and cut your losses... But hey, you are your own man. You can use your money however you see fit, and if you think that gambling it all away in a pyramid scheme is a fit way to use it, then so be it.


Xadoman wrote:
For others who want to be millionaires. Safemoon is holding on quite good in the current bearish situation.

You're not going to become a millionaire by throwing away a bunch of money into a pyramid scheme.

Xadoman wrote:
For example, the Bonfire has come down 10X for me from ATH( all time high). It was 6000 at some point and now it is 500. You see, I am not crying over this price fluctuation. My initial investment was around 800 dollars into the Bonfire. For Safemoon the volume is up, the whales are selling and keeping the price low. They have already made it investing hundreds of thousands and picking up hundreds of millions. Their bags are emptying and my bag is growning from reflections. The tokens are burned (or removed)in this process and the number of coins goes constantly down causing for the price to go up if things are getting better in the whole crptoworld. The wyckoff cycle for Bitcoin in not quite over yet causing the whole crypto to be down at the moment. Simple as that.

You are losing your ass. Simple as that.


14-07-2021 17:07
gfm7175Profile picture★★★★★
(2313)
duncan61 wrote:
Go Xadoman.I fail to understand why the its all broken clowns care about what you do with your money.

Who here has expressed any care about what Xadoman does with his money? I don't care what he does with it. If he wants to piss it away on a pyramid scheme, that's his prerogative.

duncan61 wrote:
I know my son bought $3000 bitcoins a few years ago and sold recently for a deposit on his first house for $45,000 and still has some left.He also buys silver and keeps it in a safe.Its not my thing but I did open an EX wallet but read how Elon single handedly lowered bitcoin value on his own and backed out.I bought new suspension and tyres for my Cherokee instead.But good luck buddy hope it works out for you

One glaring difference between Bitcoin and Safemoon is that the former is a cryptocurrency and the latter is a pyramid scheme.


14-07-2021 17:09
IBdaMannProfile picture★★★★★
(9570)
gfm7175 wrote:HODL is right... I just opened up the Safemoon chart and couldn't believe my eyes... Safemoon has already made a dip down into the $0.0000026XX range before coming back up into its new home in the $0.0000027XX's...

I really wasn't expecting Safemoon to be spending almost all of its time under $0.0000028 until perhaps Saturday with Sunday being the day it remains strictly below $0.0000028. Safemoon might rise up briefly and spend some time in the low 28XX territory but we both know exactly to where it will be returning for good.

In any event, brace yourself for the next baseline shift to $0.0000026 ... or maybe even $0.0000025, it all depends on how rapidly Safemoon drops over the next couple of days.

14-07-2021 17:12
gfm7175Profile picture★★★★★
(2313)
duncan61 wrote:
My son explained to me that safemoon was designed as a currency that if you bought it now that you would be able to afford to fly to the moon when Elon got it right.Its not something I would do but it would seem others failing is massaging your ego

What good is a "currency" in which you get heavily penalized for using it as a currency?

This thread is simply a place where we can all gather to closely observe, in slow motion, the inevitable collapse of the pyramid scheme known as Safemoon. I've been thoroughly enjoying keeping a close eye on (and analyzing) the price fluctuations and trends. It reminds me of similar activities that I did in grade school and high school.



Edited on 14-07-2021 17:16
14-07-2021 17:30
gfm7175Profile picture★★★★★
(2313)
IBdaMann wrote:
In any event, brace yourself for the next baseline shift to $0.0000026 ... or maybe even $0.0000025, it all depends on how rapidly Safemoon drops over the next couple of days.

Ever since yesterday, when it spent an extended period of time below the baseline, I've been bracing myself for another baseline shift. I'm interested to see how it performs today.

So far this morning, it has made some brief dips just below the $0.0000027 mark and made some brief climbs just above the $0.0000028 baseline, but it seems to be very comfortable plopping down to rest within the $0.0000027XX range (below the current baseline).
14-07-2021 18:28
IBdaMannProfile picture★★★★★
(9570)
Hey, guess what ... I found someone who performed the same analysis I did ... just about a month later but better late than never. I recommend reading it before the powers that be force it to be removed.

https://www.fxstreet.com/cryptocurrencies/news/safemoon-price-forecast-safemoon-teeters-on-the-edge-of-a-50-decline-202107132159

It appears to me that this analysis is based entirely on the price activity whereas my analysis was based on economic factors and general fraud detection ... but notice the similarities in the conclusions:

SafeMoon price continues to develop a descending triangle pattern with a measured move target of $0.00000133.


I was hesitant to speculate about the price at which Safemoon would be declared "defunct." My thoughts were that they won't wait until Safemoon's price reaches $0.00. Also most reporting sites really only extend to (round to) six places after the decimal ... so my thoughts were that once Safemoon price reaches $0.000001 (whether rounded or not) that there won't be any more "digits" for it to drop before rounding to $0.00, i.e. my thought is that $0.000001 is the point at which Safemoon will be considered by all financial institutions as defunct. This article uses other means to calculate a $0.00000133 value whereby the dust will be settling after this crash.

Daily volume has slumped over the last ten days, suggesting indecision among SAFEMOON speculators.


Excellent! Notice the correct reference to Safemoon "speculators" instead of "investors." Kudos to them. Also notice how the article alludes to their "indecision" which we understand as the conflict between their understanding that they have been hosed royally by a pyramid scheme but are clinging to the false hope of getting exceedingly wealthy by HODL.

Since May 21, SafeMoon price has shaped a descending triangle pattern with the horizontal trend line at $0.00000285 providing the trigger.


So I was human-eyeballing the price trend and I like nice, rounded numbers so I at first selected $0.0000030, later adjusted to $0.0000028 as my "baseline." They saw the same thing but performed a linear regression on the SMA and arrived at $0.00000285. So we seem to be operating under the same understanding.

A collapse of 50% would wipe out most of the 2,140% gain accumulated during the explosive rally from April 15 to April 20 and secure an oversold reading on the SAFEMOON daily Relative Strength Index (RSI).


I simply made the following graphic:



Conversely, if SafeMoon price can complete a daily close above $0.00000338, it would alleviate the pressure generated by the declining 10-day SMA at $0.00000306 and free SAFEMOON to target the descending triangle's upper trend line at $0.00000371, yielding a 30% gain from the current price.


... except that this can't happen, and thus won't happen, for reasons we discussed and which they address in the next paragraph, albeit in a sugar-coated fashion:

With SafeMoon price currently trading at $0.00000287, SAFEMOON is hanging on the edge of a significant decline that will further dent the hopes of the novice cryptocurrency becoming a compelling investment alternative in the market.


Safemoon Price Update: $0.000002799

14-07-2021 21:44
IBdaMannProfile picture★★★★★
(9570)
Since the 24-hour ticker extends back 24-hours, the 24-hour high price contains yesterday's high price which, up until recently, was $0.0000029, but just fell of and now the 24-hour high price is $0.00000289. Look for the big drop tomorrow (around 2:00 am) when the 24-hour high price drops to $0.000002821. Who knows what the 24-hour low price will be?
Attached image:

14-07-2021 22:59
IBdaMannProfile picture★★★★★
(9570)
What others are saying. Read them before they are removed.

This SafeMoon Price Prediction Is One Crypto Investors Need to Hear

SafeMoon: 10 Ways It Puts Your Money at Risk

SafeMoon is a scam, crypto experts say

14-07-2021 23:48
gfm7175Profile picture★★★★★
(2313)
IBdaMann wrote:
Hey, guess what ... I found someone who performed the same analysis I did ... just about a month later but better late than never.

Nice find! This analysis seems to have noticed similar patterns in (and issues with) the price activity as I have noticed.

The TLDR version is "Safemoon speculators are being bent over furniture".
15-07-2021 00:01
gfm7175Profile picture★★★★★
(2313)
Safemoon "price watch" update:

Since Safemoon's "caught me by surprise" dip below $0.0000027 this morning, it has rallied and has held right around the baseline mark of $0.0000028, mostly staying slightly below it but going slightly above it from time to time. For the last hour (about 3PM central until 4PM central), Safemoon has stayed above the baseline value.

How long will this last??!! (my guess is not very long at all) Stay tuned to find out!!
15-07-2021 11:44
hpstricker
☆☆☆☆☆
(3)
Can someone please explain to me why this thread - even though it is very interesting - is appropriate on a climate change discussion site. What has the collapse of a cryptocurrency to do with climate change? Possible answers: (1) Because cryptocurrencies have an impact on climate. (2) Because what we can watch (the train wreck) has strong analogies with climate tipping points: first you cannot see that the critical threshold is reached, but when it undeniably happens, the system crashes.
15-07-2021 13:18
IBdaMannProfile picture★★★★★
(9570)


hpstricker wrote:
Can someone please explain to me why this thread - even though it is very interesting - is appropriate on a climate change discussion site. .

Sure, I'll explain.

I started this thread because Safemoon and Climate Change are both scams and we can learn a great deal about the Climate Change scam by studying the Safemoon scam.

I explicitly spelled this out in THIS POST.

Also, this thread is appropriate because I say it is appropriate ... and I say that any thread whose mere existence pisses you off is appropriate. If you don't know how to simply not select a thread that you don't wish to read then you are too stupid to contribute intelligently on this site in the first place.

Let me know if you have any other truly brilliant questions.


Edited on 15-07-2021 13:21
15-07-2021 16:00
hpstricker
☆☆☆☆☆
(3)
Are you honest, or don't I just understand your irony? Is this the kind of discussions to be found on this forum? Sorry for the inconvenience, but then I better quit.
15-07-2021 16:31
IBdaMannProfile picture★★★★★
(9570)


hpstricker wrote: Are you honest, or don't I just understand your irony? Is this the kind of discussions to be found on this forum? Sorry for the inconvenience, but then I better quit.

As you leave, please notice your complete lack of intellectual contribution and work on fixing that before you return. If that is one particular aspect of yourself that you do not wish to address then I would recommend YAP as a forum that is sufficiently further down to your level.

https://www.tapatalk.com/groups/yetanotherpoliticsboard/

Enjoy.

p.s. - Harvey, I know you would have handled that differently.

15-07-2021 16:58
IBdaMannProfile picture★★★★★
(9570)
Safemoon just made a step adjustment downward. Look for Safemoon to dance around the low 27XX territory and tomorrow to be kneading the upper 26XX region.

We should take a pool:

1) When will Safemoon be declared "defunct" and a "dead coin"?
2) When will the Safemoon pyramid be de facto collapsed?



Note: it was a good thing that we bypassed $0.0000029 and adjusted the baseline directly to $0.0000028 because Safemoon has been strictly under $0.0000029 for the past two days.
Edited on 15-07-2021 17:23
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