AMPL Will Not Be Used

[Anonymous No.20644140]

AMPL is a glorified ponzi scheme.

It won’t be used in any defi applications because of the fluctuating supply, it will break smart contracts. (i.e you take a loan of 1,000 AMPL today, tomorrow the total supply drops to 900) There are many more attack vectors and problems with fluctuating supply and smart contracts than this example.

It won’t replace Tether, USDC or DAI as a stablecoin at this rate, it is the furthest thing from price stable. Taking a loan against or borrowing this would result in swift liquidations.

So what is it good for? Only speculation. If demand dries up this implodes very quickly. DYOR and don’t fall for the shilling.

[Anonymous No.20644155]

>>20644140
It doesn't need demand to rebase positively. What don't you get? This thing could literally create a singularity.

[Anonymous No.20644183]

It is a scam and the team taking all the money everyday, but frens will learn when negative rebase will strike at them right?

[Anonymous No.20644219]

>>20644155
This is not a refutation of any of the points I have made. This absolutely cannot create a “singularity” what a stupid thing to say. Stay on topic.

[Anonymous No.20644286]

>>20644183
I put in $23K two weeks ago today and just hodl'd.

I took out my $23K on Wednesday and still have 50,000 Ampl.

$23K sat in ETH overnight and gained 9 %

>watching from a comfy distance
>$9,000 rebase today

NZ$

[Anonymous No.20644312]

>>20644286
That is great for you, although just because you made money doesn’t mean it won’t fail. Early Madoff investors made money, early bitconbect investors made money, still collapsed.

[Anonymous No.20644340]

>>20644140
He's after our ample guys. Do not sell

[Anonymous No.20644358]

>>20644340
I want nothing to do with your ponzi scheme tokens, thanks for the bump.

[Anonymous No.20644367]

>>20644312
Salty lol

[Anonymous No.20644392]

>>20644367
Great argument. Thanks for continuing to show AMPL investors are stupid as rocks.

[Anonymous No.20644425]

that loan is not an issue, when AMPL is big enough the dynamic supply will be accounted for by smart lenders, or they simply won't include it
thats the only 'attack' vector your listed

>its not stable
yes because the market cap is very low. please read the website to understand how it works

I know pajeet fudders are really dumb but you guys can do better than this

[Anonymous No.20644570]

>>20644392
Wasn't arguing. Was stating a fact.

>duh, who's the stupid one

You are SALTY. Fact

[Anonymous No.20644608]

High school graduate thinks he’s smarter than https://www.ampleforth.org/about/ and their advisory board.

I remember being 18, I was a cringe fedora tipper too. Follow the money OP stop being salty!

> bitcoin won’t work!

Fond memories

[Anonymous No.20644625]

>>20644608
this

[Anonymous No.20644669]

>>20644608
I sold a stack of btc due to fud back then, now i invest in new paradigms. Don’t you owe that to yourself op? It’s either wagecuck 40 years or made it after 10, a couple of thousand dollars don’t make a difference in a lifetime

[Anonymous No.20644697]

>>20644425
I know how it works, you keep repeating this as if its some refutation of my points. It isn’t. I’m talking about DEFI, you cannot code a smart contract to change the term agreement, they do not work like that. Since you can’t into abstraction, If a million people borrow 500 AMPL and the supply changes to 400M over the course of 5 months, it is an unpayable loan for many people. This fundamentally will not work with DeFi, even if it does get stable around a dollar.

>>20644570
Ok

>>20644608
Once again, zero refutation. More ad hominem from AMPL holders. Maybe you guys should read how it works.

[Anonymous No.20644712]

This board is a fucking joke. When will shitcoiners be forced into their own board? At this point, it's like /hr/: one good thread in a wave of coom posting faggots.

[Anonymous No.20644755]

>>20644712
/biz/ died long ago. If everybody could just rationally talk about coin advantages and disadvantages shitcoin discussion would be fine. But they are so emotionally invested in their bag of the month any discussion outside of “it will make you a millionaire” is such a violent oppression to them and they have to attack any criticism. They think i’m preventing them from success or something by pointing to a fatal flaw in their coin and without me everything would be ok. (It wouldn’t)

[Anonymous No.20644786]

>>20644755
AMPL is being adopted by normies as a long term investment plan. We will actually be millionaires if we invest in this now. Don't be a fucking idiot.

[Anonymous No.20644788]

>>20644755
Quite an egocentric explanation my dear

[Anonymous No.20644813]

>>20644788
I’d say it is fitting in the context of this thread.

>>20644786
Yeah, maybe? If you can convince greater fools to give you money yeah.

[Anonymous No.20644858]

>>20644786
>We will actually be millionaires if we invest in this now.

how to spot the ngmi. The bitcoin BVLL was basically the black swan of cryptocurrencies. everything after it was basically chasing it and normies aren't FOMOing.

It's hilarious reading this shit. you tards will graduate to penny stock scams next.... o wait, there is a penny stocks general on /biz/ now too.

Get rich quick is basically fantasy. If you think you're GONNA BE RICH, so does every other retard too I bet.

[Anonymous No.20644861]

>>20644813
Do research on AMPL outside of here and look at who's talking about it. 5k new wallets and most of them are new money. Stupid people are getting their stupid friends to buy into it and at this point there's nothing we can do but capitalize on the wealth that is going to be generated by it. I personally very badly don't want a bunch of retards to get rich, but seriously look at the telegram group. Boomers are buying into this. People are posting videos of themselves with their wives and kids having "rebase" parties. It's disgusting and you will lose against herd mentality.

[Anonymous No.20644867]

>>20644813
Isn’t this what crypto, even gold and stocks, is all about? Find a relative-to-you-fool and make them voluntarily hand over their money

[Anonymous No.20644885]

>>20644858
You don't get it. The level of hype around this is bleeding into the normie sphere, just like Bitcoin. People are posting their wallets and cashouts on Twitter and Facebook and people are losing their minds.

[Anonymous No.20644898]

>>20644861
I mean if thats the thesis of your investment then, yeah definitely could work. Goodluck with it. But acknowledge it comes crashing down at some point.

>>20644867
Some investments actually have fundamental value that will generate future demand.

[Anonymous No.20644907]

>>20644885
No, it really isn't. You're blinded by delusion due to your bag holding. You don't even know if those accounts are pajeet shills.

[Anonymous No.20644956]

>>20644907
I've had my trigger on selling this for a while now and am astonished it keeps growing. I have no emotional investment in this at this point. You're a fool and in a couple of months you will look back and this and wonder why you didn't listen to someone trying to be reasonable with you. Follow the money.

[Anonymous No.20644958]

>>20644898
Fundamental value is nothing more than less-fools giving more-fools a reason to hand over their money in exchange for something that makes them think their more foolish existence would get a benefit.

[Anonymous No.20644966]

>>20644858
This is literally a thread on /biz/ right now. Exactly the same marketing bitcoinnect, onecoin, and other ponzi/scams use.

The get rich quick delusion is hard to fight for the unintelligent and hopeless.

[Anonymous No.20644990]

>>20644958
No it isn’t. I’m not even entirely sure what you are saying. Buying up oil fields in the 1800s was a great fundamental investment. Shorting the pound when it was pegged was a great fundamental investment. No fools required.

[Anonymous No.20644997]

>>20644956
>and wonder why you didn't listen

lmao, no I won't. I have two fundamental rules in investing:

Never have regrets
Never use hindsight

which is why I give no shits that I missed out on the bitcoin 20k run up when I sold at $100. I was confident then that the coin was a scam and I'm not going to let my hindsight cloud me. This coin smells like a scam and may still have a good bull run, but it could also fall flat on its face like many shitcoins that come and go.

[Anonymous No.20645015]

>>20644966
so they realize if everyone does this, then there would be no buy volume right?

[Anonymous No.20645030]

>>20644966
Yeah I'm convinced people are entirely more retarded than I originally thought on here.

AMPL is a retard magnet, midwit deterrent, high IQ dream come true.

[Anonymous No.20645043]

>>20644997
Have you changed your mind on Bitcoin over the years?

[Anonymous No.20645045]

>>20645015
You're so fucking stupid it hurts.

[Anonymous No.20645086]

>>20645043
I'm bearish on any coin that has things like halvening and depend on patent encumbered hardware to effectively mine.

I'm not convinced such strange deflationary designs are healthy or functional. So no.

[Anonymous No.20645180]

>>20645086
There is not a single coin in existence that isn’t mined with patented hardware. CPU, GPU, ASIC, FPGA, etc are all patented devices and a currency has to have an emission schedule of some sort.

Something very interesting is actually starting to happen with Bitcoin mining. We are probably 2-3 gens away from the best miners we can make, meaning the top of the line hardware will start to become more accessible to everybody. Anything under a 5nm chip is nearly impossible to create, maybe actually is impossible.

[Anonymous No.20645281]

>>20644697
Prove to US first that you know better than https://www.ampleforth.org/about/ and their advisory board. Their credentials are RIGHT THERE for everyone to see. That's why we trust them, that's why most of us are up 10x because it works, and it's going to keep working.

I ask thee, again, what are your credentials? Why should we listen to you?

You're just a NEET anon who sold the bottom and tried to swing, and now it's going up again for it's weekly cycle and you are missing out. Trust me, i tried to do the same last week. Didn't work. Not during expansion phase and twitter FOMO.

[Anonymous No.20645285]

Yeah. It is much better to code a contract that says “pay 100 ETH to x”. When ETH could be priced at $10000 or $53. That smart contract isn’t exactly stable. Better to have “Pay 100 AMPL to x” because that will be roughly the same today as it will be 10 years from now.

As the coin grows the supply won’t fluctuate that much and there are many ways to solve it. OP is just too proud and dumb to recognize the genius behind ampleforth and why it deserves a spot in the top 10.

[Anonymous No.20645323]

>>20645285
At this stage everyone that invests in AMPL will absolutely gain from it. AMPL needs to be in the billions in order for it to function as a stable currency, at which point an entirely new market of people will want to use it. I plan on putting every penny I earn into it for the next few months because I am convinced having AMPL reach its potential is better for crypto. It is exactly what people in crypto have always wanted and part of the reason we all hate tether and XRP.

[Anonymous No.20645356]

>>20645281
This is an anonymous board. You don’t need credentials to criticize an idea. How about you argue against the points instead of parroting strawman arguments. You don’t know me or who I am.

>>20645285
>as the coin grows the supply won’t fluctuate that much. Maybe, but in the short term it is such a big concern it couldn’t be used for any DeFi applications. Thanks for the ad hominem, that is the common denominator of AMPL shills, criticize the person, not the idea. Subversive kikery.

Fact is, in its current state AMPL is more than useless for DeFi, it is destructive toward it. Can AMPL get big enough with no use cases beyond speculation? Who knows. All it is right now is a ponzi scheme.

[Anonymous No.20645449]

>>20645356
If you can't see the usecase for a currency with inflationary protection thats pinned to the 2019 dollar in hopes of having a liquidity pool that can always pay out you are an absolute fool.

[Anonymous No.20645470]

>>20644140
Reminder that OP is trying to crash the price of AMPL so he can buy lower. As always do not listen to FUD and just hold. Another $8k coming my way tonight if this price holds. See you in hell OP.

[Anonymous No.20645488]

>>20645356
Yes but you need to realize that those of us that have been interested in this projects for months don’t care about it functioning as a ponzi right now. We see the potential and try to imagine what it would be like if it did reach a trillion dollar market cap. To me Ampleforth is a long term investment, don’t really care if it goes up or down in the short term. It could do wonders for the world economy if it were to succeed.

[Anonymous No.20645505]

>>20645449
Its usecase as a currency is far weaker than its competitors, DAI, Tether, USDC, etc. It has no advantage TPS wise and is at a massive disadvantage due to wild price volatility and supply fluctuation. DeFi literally cannot use it, while USDC, Tether and DAI are the lifeblood of DeFi. But go ahead, keep calling me an idiot, it doesn’t make you right though.

[Anonymous No.20645534]

>>20645488
I’ll ask you this then, because you seem most willing to have a discussion. What comparative advantage does AMPL have to DAI, USDC and Tether. Decentralization doesn’t work for DAI.

[Anonymous No.20645572]

Ample is literally a ballon
You pump air in
You are now in the ballon, it is big
Then whale sits on balloon and money goes out
Now u in ballon but it small
This is how ample is

[Anonymous No.20645643]

>>20645572
Except whales dumped close to 80 million and we're already reaching the same market potential a few days later due to the immense buy pressure as this thing approaches $1.

[Anonymous No.20645650]

>>20644140
i dumped a 30x for more ARPA. kek. thanks biz.

[Anonymous No.20645789]

>It won’t be used in any defi applications because of the fluctuating supply, it will break smart contracts. (i.e you take a loan of 1,000 AMPL today, tomorrow the total supply drops to 900) There are many more attack vectors and problems with fluctuating supply and smart contracts than this example.

[Anonymous No.20645820]

>>20645534
It’s not collateralized. Dai requires 150% collateralization while the others requires trust in a centralized party.

Ample is very simple. It is a pure cryptocurrency with a supply that is correlated to demand. It prints more as more people want it. It does not depend on something outside itself to be able to function as a store of value and unit of account (except the oracle).

If you were to create a world currency, how would you do it? Would you create a a token that is collateralized by a basket of other assets or would you use something like Ample.

I think it can coexist with Maker for instance for a long time and probably be part of that basket. But as time goes by I think it will gain more and more influence based on its simplicity.

I don’t know what will happen, but from a purely theoretical point of view, ampleforth is very attractive. It is more attractive than Bitcoin is in my opinion.

[Anonymous No.20645843]

>>20645285
unironically one of the bests arguments I've heard and I tried to educate bizlets for 2 weeks already

[Anonymous No.20645868]

>>20644140

https://medium.com/ampleforth/ampleforth-compound-ed-announcing-ampl-compound-finance-partnership-289f0d2a9ebc

[Anonymous No.20646002]

>>20644608
>high school graduate
ad hominem. not an argument
>the advisory board knows better than you
appeal to authority. not an argument

[Anonymous No.20646015]

>>20644140
1. The risk return profile of Ampl is different from other cryptos. It may not be an attractive source of income for everyone
2. You don't have to invest in Ampl, if you don't like its risk return profile. Yet, you go out of the way to create a FUD thread
3. Long term base value of Ampl is close to 1. When I am buying at $2 - the bet I am taking is that positive rebases will bring my avg. cost close to zero. My avg entry point per AMPL is 10 cents. So in way I am sitting at a comfy 10x which is increasing at rate of positive rebate each day. (This doesnt even account for returns from geyser)
4. Negative rebase is a thing. But at 50 cents - the aspect of earning 2x is tempting. It may never go below $1. or it might go for a short period of time. Decision is clear - buy as much as possible below $1 when it gets there
5. I have coins earning nothing. I have USDT lying idle. Why shouldn't I use them to earn a positive return?
6. A coin that will go 10x in 12 months or to zero in the long run vs a coin that can give 10x in 70 days or to 1x in the long run. I will take my chances with the latter.

[Anonymous No.20646066]

>>20644885
no, this isn't like btc. this is more like bitconnect.

[Anonymous No.20646068]

>>20645285
whoa an actual use case and a great one
everyone everywhere will be happy to get paid in ampls at a future date

[Anonymous No.20646201]

>>20645180
you're missing the point there. ASICs are patented and built for the specific purpose of mining crypto.

arguing that "well GPUs are all patented so ASICs are really no different" is a dumb argument; GPUs are not patented specifically for crypto, they are patented for a broad set of use cases and just happen to be useful for mining some cryptos.

[Anonymous No.20646367]

simply count your AMPL as dollars, it is easy as that
that is what the coin is meant to be, a single dollar

I hold a bag of Ampies myself, this whole thing feels like a rollercoaster, now sit back, relax and see where the ride ends

[Anonymous No.20646679]

im too small brained for this but i still picked up a bag last night. anyone want to redpill me on rebasing? if the price is over 1$ then you get tokens sent to ur metamask as a supply adjustment? if its under 1$ you get tokens taken?

[Anonymous No.20647007]

>>20646679
https://www.ampleforth.org/basics/

[Anonymous No.20647415]

>>20644140
I agree that it can not replace $1 pegged stable coins.
the ponzi point is somewhat valid - not the right descriptor, but early buyers make the largest. To me its moot fud though - the incentives are designed to grow the market cap & retain investors - that's also true of every crypto.
pls share the attack vectors
t.whitehat refu/g/

[Anonymous No.20647442]

>>20647415
>largest *gains

[Anonymous No.20647810]

>>20646201
There are tons if ASICS man, it is an application specific integrated circuit. Obviously ASICS for crypto are for crypto and cannot do anything else, thats what they were literally built to do. Just because a GPU can do a multitude of things doesn’t mean you can build it yourself, it is patented. I think you have a fundamental misunderstanding

[Anonymous No.20647848]

>>20646015
Its not a “FUD” thread. I’m pointing out and inviting discussion about problems with a cryptocurrency on a cryptocurrency board.

[Anonymous No.20647872]

[Anonymous No.20647915]

>>20645820
Collateralization gives DAI its value, I wouldn’t argue thats a negative. Yeah, I would prefer a collateralized world currency if I had to pick. Its pretty far from simple, the average man will not understand money being taken and given to his account when he has done no actions.

[Anonymous No.20648263]

>>20647915
>Collateralization gives DAI its value
People give that value because there's a generally agreed upon value of that collateral. However, that same inelasticity of said collateral is also a weak point. Ampl seeks to adopt the generally agreed upon value while eliminating the problem of inelasticity.

[Anonymous No.20648474]

AMPL is not bank run protected.

When there is a run on withdrawals, it will be a race to get your money out.

Buy RSR instead.

Ampl is not a long term hold.

[Anonymous No.20648582]

yeah right op, because armstrong would heavily invest in a ponzi scheme, same as Pantera capital.... the guy is major conversations with visa right now and major integration with coinbase will happen anytime.

[Anonymous No.20648745]

>>20644140
Can't the loan amount be based on the percentage of total circulating supply?
So you take out a loan for 1893803.32 AMPL (1% of circulating supply today for example) and then you have to pay back that 1% (at whatever it may be) plus interest.

[Anonymous No.20648761]

>>20648582
Yea, obviously they would invest in the ground floor of a ponzi scheme its free money. Its not an outright ponzi, its a decentralized ponzi like HEX.

[Anonymous No.20648870]

>>20644140

This is the most retarded thing I’ve ever read. I feel dumber for having read it, and it wasted precious seconds of my life that I now want back.

That’s like saying you can’t collateralize a loan with USD because the supply keeps changing (they’re always printing more USD brrrr).

The contract is written around value so if 1000 AMPL = 1000 AMPL (which it obviously does) then there won’t be a problem. The reason BTC is not a good choice for this is because it’s correlative value fluctuates so much. AMPL literally solves the thing you’re talking about, because once it’s market cap is large enough it will stabilize around its price target, making it extremely valuable as the federal reserve of crypto.

Literally nobody considers fluctuations in supply an issue around lending anon, its fluctuations in value that are problematic. Hence why people are hyped on AMPL solving this problem.

[Anonymous No.20649085]

>>20645470

The liquidity and market cap is so high now that FUD here doesn't do shit.

Essentially, there are people FUDing for FREE.

[Anonymous No.20649368]

>>20648870
You are admittedly stupid, I agree. I am talking about DEFI lending. Smart contracts cannot adapt to constantly changing supply. Learn to read, you might feel a little smarter. Once again, AMPL shills resort to ad hominem, because they cannot refute the content.