How can BNB still be worth so much after all that carry on this year?
Surely it should be way down the top 100 shitecoins list.
Market cap of $32 billion. How is this possible?
Shitcoins are truly shit.
I think that something that is practically worthless can have such great value only if the man behind it all manages to convince millions that it is actually worth something. Considering that a lot of people have a very positive opinion of CZ, and consider him to be some kind of messiah who fights against the system, it's not surprising that he managed to sell his shitcoin to them as something that really has value.
In addition, marketcap is something that is the result of circulating supply times the price, and when you have almost 154 million of these tokens at a price of $200+, you get a very nice amount that then deceives people even more. I see a bigger problem in the people who buy it than in the fact that such a thing exists at all.
For sure I don't want to pump any shitcoins, and I hardly give any shits about the BNB that I own, and I am thinking somewhere around early 2018, I opened a Binance account because I had gotten kicked off of Bitfinex and maybe some other exchanges, so when I first signed up for Binance, it was clear at that time, that if you used BNB to pay fees when you traded, you would ONLY have to pay 0.25% for any trading fee rather than 0.5%.. something like that. So for me it seemed to be a no brainer to buy some BNB, and so I bought a token amount of BNB (for around $13.50 per BNB) that I thought might last me 2 - 3 years at most for paying my trading fees.. and over the past 5.5 years, I had used about 30% of the BNB that I had purchased when I had originally opened the Binance account that I thought would have had been spent down to zero way before now.
I also recall that at some point during 2021, I was telling one of my nocoiner (bitcoin naysaying) relatives that I did not give any shits about any of the shitcoins that I held, and I looked at my account balances to see that the value of my BNB holdings had gone up around 40x from the amount that I had spent to buy them, and my no coiner was amazed by the amount that I told him I give no shits about whether it goes to zero or not.
Right now, when I look at my BNB balance, I see that it is around 11.5x the value that I payed for them, and I don't give any shits. I am still using them for the same purpose as previously, and I see no reason to sell them, and I don't give any shits if they go up or down... so yeah, they could end up going down, and they are around 1/4 the value that they had been at the time that I was talking with my nocoiner relative, and my position has not really changed...
I have a few other shitcoins that I hold that have done similar kinds of things, and I don't give any shits about any of them either, and all of my shitcoins are still around less than 0.5% of all of my bitcoin portfolio holdings... which around 99.5% is bitcoin and cash, and the cash portion is currently just under 2%..
which would make my total "crypto" holdings
** to be around:
97.5% bitcoin
2% cash
(by the way about 3/4 of the "cash" is USDT)0.25% BNB
0.25% other shitcoins not named BNB
And, just in case you might be reading me wrongedly.. fuck shitcoins.
**just for attempts at clarification, my total "crypto" holdings are currently right around 70% of my overall investment portfolioWO Meta Post.There is a long time I don't come here, as the market is so dull right now.
I have updated the merit network for WO thread
Take a look and try to find yourself and your friends
You have triggered me.
I posted this graph a long time ago on the WO treads, and now I am refreshing it.
Click on the picture for the interactive version.
Only arcs with more than 50 merits are made into this chart, as otherwise, it would be a messy spaghetti bowl.
Only WO OG in this graph!
Upon clicking on the link and attempting to "interact" with it, I am not sure if I understand the term "exchanged merits."
Edit: Added note related to "crypto" versus overall investment portfolio size.
Poll
