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  1. #11
    Player
    Mysticp's Avatar
    Join Date
    Jan 2022
    Posts
    48
    Character
    Kriasa Arcanis
    World
    Lamia
    Main Class
    White Mage Lv 90
    Quote Originally Posted by dapperfaffer View Post
    Market cap in crypto is the amount value of all coins mined.
    It has nothing to do with circulating supply or total supply. Circulating supply is the approximate number of coins in circulation and total supply is the known number of coins. Both are reflective of the price of the stock.
    Sandbox has a Max supply and total supply of 3B coins with only 919M in circulation .
    Bitcoin on the other hand has a Max supply of 21B coins with 18M in circulation and total supply of 18M.
    Which of those is worth 45K a coin again?

    The value of the NFT is reflective of the amount of people invested into it. The only way a NFT is valuable is if people buy into it to support the NFT. Its not going to magically change because over time it grew from 7ths of a cent to 7.90$ over a year then split by half over the next 6 months. Long term investment =/= the scam of short term pump and dumps. So no, there is nothing to discuss at this point other than a pointless conversation about how you think crypto isn't trash and a scam.
    You either consistently invest into the NFT that SE could potentially release to ensure its value, or you watch as it gets devalued over time. And I just have to add, a SE NFT won't be backed by SE financially. Its all user buy in.
    Once again this is incorrect. Marketcap is Circulating supply x current price. Marketcap does not include total supply. This aspect is factual and not debatable. If you want to verify this for yourself please go to coingecko or coinmarketcap and hover over the the marketcap of any crypto and this will be shown as the calculation.

    To further prove this:
    Bitcoin for example has a price of 46,910
    marketcap of $887,468,007,750
    Circulating supply of 18,918,525
    So do the math: 46,910 x 18,918,525 = 887,468,007,750

    Now that I have proven that part wrong can we move on?

    Now as for NFT's. You are correct in that for it to have value people have to assign value to it. That is no different from any other product. Things do not go up magically. They go up with an increase in demand. If demand goes down then price will follow so your point about you need to invest in it is accurate. However, once again this is true for any product that has a market. You have in no way shown that anything is a scam. NFT's are just digital containers that can be sold as goods. No more no less.
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    Last edited by Mysticp; 01-03-2022 at 02:25 PM.