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49537896 No.49537896 [Reply] [Original]

1 ETH = $1,541.65

Truebit OS mint price: 0.000422347455593772 ETH ($0.6511119549161387)
Truebit OS retire price: 0.000052793431854994 ETH ($0.0813889942192515)

https://replit.com/@lpmythbuster/truebit

The truebit price is bound to ETH via the mint/retire price and drops only that much between mint and retrie price if ETH drops. That means if more people buying truebit the available supply to buy gets lower until someone mints new truebit and that dont happen until truebit reaches the mint price. So in conclusion, if many people buying/selling trubit the price can pump and dump very fast between mint and retire price, but it can not fluctrate that big over or under the mint / retire price due then trubits controll mechanism catches up and retire or mints new truebit token to get a stable price movement.

>> No.49537907

>>49537896
To summarize:

The Truebit protocol at the approach of Retire price will automatically burn tokens and at the approach of Mint price will automatically mint new token.

That's why Truebit is not made to make money, the protocol will do everything to keep the price stable between the Retire price and the Mint price, it's written in the Truebit code.

>> No.49537981
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49537981

>>49537907
>That's why Truebit is not made to make money,
It is literally a for profit Privately owned company redacted.

>> No.49538161

>>49537981
You can make money by buying at the retire price and selling at the mint price, but don't expect a huge profit

>> No.49538183

>>49537896
>>49537907
>>49538161
it went from 0.08 to over 0.30 in a few weeks kek that's a 3.75x

>> No.49538256

>>49538183
Yes the price can vary between the retire price and the mint price, this is what I explained in my first post

>> No.49539225

this post will be a woosh for most of you
nice fud ;)

>> No.49539281

if anyone is interested in the actual tokenomics of truebit, this anon did the work for us: https://www.youtube.com/watch?v=kN7qvpns0v0

>> No.49539370
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49539370

>>49539281
great video

>> No.49539988
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49539988

>>49539281
How much iq do you have
50?
Like low end nigger iq?
Because op exactly told how it works, just like your little video

>> No.49540746

>>49539988
> he hasn't watched the video