bfcmatt wrote: ↑Thu Nov 11, 2021 1:53 pm
Shib is absolute garbage, I bought in at next to nothing and sold at ath, It won't go much higher than it is now, sure it will have some high's and some lows but the market cap for a meme coin is already massive, it will never reach a penny per shib, for it to do that it would be the most expensive asset in the world. It is to be truthful sh|t
not strictly true though in answer to the previous question and the answer also lies in DSF's question. It's a coin someone invented but has no real utility, however but they spent a lot of money on marketing it, there's nothing behind it that would say this coin is the equivalent of shares in the blockchain work we are going to undertake to do X, Y or Z.
However, as an investment you clearly bought into it and did well, as have I and a lot more people, as you point out there is still an ability to invest and make money, however given it's non-existent utility you're far more likely to lose money and would be something I would certainly recommend against. Yet against DSR's theory it shows millions have bought it, but DSR would need to gamble that his marketing machine could prompt enough people to cover his costs and make a profit, risky and unlikely.
I think the vast majority agree it will never get to one cent, but it doesn't need to in order to be profitable, it's trading in the $0.00005 range, if it went to $0.0005, then it would be very profitable, or even $0.0001.
What about if SHIB actually teamed with a start up company, which has the business use case but that needs a coin and infrastructure to launch it, perhaps then it would really take off, but just day dreaming there lol.
From DSR's post:
"That seems to be all about a system of cloud storage of data. If you buy crypto coins, are you getting access to that system of cloud storage? Or becoming a shareholder or equivalent in the company? Is there any reason to buy STORJes if you don't want to store cloud data?"
You've now understood a business case, now like looking at any share for a company with a utility, that's the question you need to answer yourself, you know people use the cloud, will this company offer a better, safer, lower way of doing it? Blockchain is the safest, so I would say on that front yes it could be a model that people turn to long term, but it's a guess and wouldn't be one I would turn to. However, it's one I haven't read about so perhaps the poster who brought it could enlighten everyone