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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (66084)	10/28/2021 11:23:09 AM
From: maceng2	1 Recommendation Recommended By ggersh Respond to of 71463

... and even after all this charity baloney talk, Buterin still has more SHIB then I do... and I'm a "take the money and run" type of guy. Jeesh.... why no story about how poor I am? Mark Cuban's Dallas Mavericks Partner With Bitcoin Broker Voyager - Decrypt Remember All That SHIB Vitalik Buterin Burned? It’s Now Worth $32.5 BillionButerin could have HODLed but he didn’t, and SHIB fans are all the richer for it. By Tim Hakki 2 min read Oct 28, 2021 DogecoinShiba Inu PORTRAIT OF ETHEREUM CO-FOUNDER VITALIK BUTERIN. IMAGE: MATTHEW REAMER/DAS MAGAZIN/FOUNDATION In briefButerin could have HODLed but he didn’t, and SHIB fans are all the richer for it. Remember in early May when Ethereum co-founder Vitalik Buterin burned more than $6.7 billion worth of SHIB tokens? Well, they’re not worth $6.7 billion anymore. At today’s prices—which have blown up 98 million percent since New Year's Day, according to figures taken from CoinGecko,—that figure has almost quintupled to $32.5 billion. Here’s how. Shiba Inu comes to life The anonymous developers of Dogecoin knockoff Shiba Inu (SHIB) had outlined in their “ woofpaper,” a play on the marketing document, that they were sending 50% of the total supply to Buterin’s address to remove it from circulation. They banked on the tokens being as good as burned, hoping the gesture would drive the price of SHIB up, as long as demand rose and the supply remained capped. At the time of the transaction, Buterin held 505 trillion SHIB, or about $8 billion back in early May when the news hit the press. SHIB +2088.56%$0.00006973 24H7D1M1YMAX Nov 5Mar 21May 11Jun 30Aug 19Oct 8$0$0.00002$0.00004$0.00006$0.00008$0.0001 SHIB price Rather than disappoint SHIB fans by suddenly selling his supply, Buterin held onto his memeable trove. Atleast, for a period. What happened next? In late May, Buterin sent gifts of SHIB, and various unsolicited crypto donations he’d received, to several different charitable causes around the world. He gave 50 trillion SHIB (about 1.2 billion at the time) to India COVID Relief Fund, for example. Five days after the market learned of Buterin’s charitable donations, Buterin then burned about 90% of his remaining SHIB holdings. He sent 410 trillion SHIB ($6.7 billion at the time) to a dead blockchain address, removing them from circulation. Buterin attached a note to another transaction at the time, which clarified that he would prefer makers of cryptocurrencies give them to charities, saying: “I don't want to be a locus of power of that kind.” Buterin took the high road, destroying what amounts to over $32 billion today. At press time, one SHIB is currently trading hands at $0.00007661, according to CoinGecko. But the reality is, had he held onto it, Shiba Inu might not have reached its current eye-watering figure. Moreover, had he sold it, the price of Shiba Inu would have certainly plummeted from the sudden surplus flooding the market. According to Etherscan, Buterin still holds 3,457,471 SHIB, a sum worth just $268.