DEC has crashed below $0.001. I explain why this happened, why it's not concerning, and how it might be one of the smartest investments in crypto right now.
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Thank you! You answered questions that I have been asking elsewhere. With Hive at $0.51 today, I have been considering a move into more DEC. The returns you mentioned on holding DEC for SPS look very good. Can you explain how cards will become more valuable in the new rewards system?
2 reasons:
The distribution of rewards is going to change to better reward higher leagues. Right now you get a better ROI having a lot of low league accounts compared to fewer high league accounts. This extra incentive will increase the value of leveling up cards, increasing demand.
"Ghost" cards will no longer contribute to your earnings. The majority of accounts out there utilize only ghost cards and don't buy or rent copies of the cards they are playing (in large part because there is little incentive to level up, as stated above). Needing an actual copy of these cards should significantly increase demand for them.
It will also provide a cap on how many people can play, which will derail inflation IMO. Right now there is virtually no limit to how many people can earn from the rewards pool. Remember, the reward pool doesn't increase just because more people are playing, so more players = fewer rewards for everyone. Especially since they don't need copies of the cards they are playing. Once they need copies, more players will still mean a smaller share of the rewards, but it will also mean more players fighting for a limited supply of cards. Lately we've seen a booming number of accounts but no increase in card value as a result. I think we are in for a major correction there once this hits. Either the accounts drop out leaving more rewards for everyone with cards, or those accounts go buy cards and drive up price.
Summary paragraph: my takeaway is that playing the game is likely to become more profitable for those with good cards, because if the number of players is less, then the reward amounts will be more. Or in the second scenario, the number of players remains the same, but now the value of cards increases because those players need all cards to earn rewards.
Thanks for the response. You are helping very many people.
These changes seem like they're gonna be huge for the game and help the ecosystem better divide rewards between active players. But what I don't get is how ghost cards have contributed to your earnings in any way and how that stops in the new reward system. When I started playing, around 2 weeks ago, I had these ghost cards to use but they couldn't earn me anything as I still needed power. So even though I had lots of cards to play I still needed to buy cards to increase my collection power before I could earn anything.
So my question is, what will happen with these ghost cards? Will they disappear entirely or become unusable in ranked so players would need more cards in their collection to get better rewards?
Anyhow, great video! Thanks for clarifying things around the soft peg!
No surprise. The entire market is crashing right now, and Splinterlands has been in a lull for awhile so a lot of people are unhappy. It will return, I think once the airdrop ends.
You make a great point about buying DEC right now. I had been buying SPS (and HBD) but I might start picking up DEC as long as it falls more.
Glad to hear the peg will return!
perfect time to buy! SELL high BUY low !!!
I bought a big bunch of DEC today purely for the airdrop. I believed it was really attractive before watching this video. Thanks the video validified my thoughts. I believe it is possible to drop even lower, however if it continues to drop I think Splinterlands should bring back the DEC for packs. This will speed up the pack sales and also gives players a new incentive to play for.
BTC is down so all is down
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Definitely brother I agree 100% about DEC, been talking about this in the discord for a while. now the deal is even better, good timing!
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