I see valid arguments defending Shiba Inu and arguing about the DeFi solutions they offer. To me all that is valid, as valid as any other DeFi protocol token, like pancake or bunny or uniswap or anything like that.
Where I criticize SHIB is because they started marketing themselves CLEARLY copying DOGE strategy. A cute dog memecoin.
Of course, SHIB has more functionality. The problem with SHIB is that it does not have its own blockchain!
DOGE has its own blockchain, and their transaction fees are very, very cheap!
While SHIB works inside another blockchain, Ethereum. While this gives them DeFi advantages, this also makes DeFi transactions prohibitively expensive.
Since they are, undeniably, riding the DOGE memecoin hype but with the advantage of having a DeFi ecosystem, if their DeFi ecosystem becomes prohibitively expensive then they have lost their advantage, and they lose to the original DOGE because the original has been around longer and was the first.
Just like Ethereum trying to compete with Bitcoin. Ethereum hs more functionality, but Bitcoin came first, so Bitcoin is number one in market cap. Ethereum has prohibitively expensive fees so it loses its advantage and loses the first comer advantage. SHIB faces the same issue when trying to compete with DOGE because of the transaction fees and token age.
Now, if you wanna buy SHIB, go ahead, it can succeed or fail just like anything else. SHIB has been successful and I congratulate, sincerely, everyone that made a killing profit off of it.
The token is just not for my taste, I like cheap and fast coins. SHIB is expensive not because of its price, but because of its transaction fees. If you buy and send to your wallet you instantly take a loss because of the Ethereum transaction fees.
Shiba is not even a real crypto with it's own blockchain and stuff.
It's just another of the many, MANY Ethereum tokens there are laying around.
I don't put too much faith in Ethereum tokens other than Ethereum itself. It has no value on development besides being a cards collection inside Ethereum.
I have some tokens I liked on Ethereum, but they are all locked due to the high gas fees, if I touch anything I instantly lose tens or hundreds of dollars. Some have forks on other chains where I could bridge, but again, need to spend gas to bridge to other blockchains, so it is a deadlock.
I like Ethereum but their main use is being a platform. If the platform is expensive it loses all the meaning.
I am hopeful that they will fix it in 2022 with ETH 2.0, but it is just hope, I have nothing tangible to back me up in this belief.
Agree 👍
Yay! 🤗
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Doge sucks that's why, it's inflationary, while SHIBA is deflationary. You are losing the witness vote from me. Good Bye!
P.S. Why do you make a post with some old chart too? Flagged for doing that and spreading fud like that. Mind your own business, stay away from SHIBA FUD please!
About the chart: I literally took the screenshot at the time of the posting
About SHIB: You are free to invest. I prefer to not invest in neither SHIB (because of Ethereum fees that I post every time) nor DOGE because it is a meme, and it has high inflation as you said.
About inflation: Hive (blockchain) also has high inflation, but thatdoes not stop me from buying and vouching for this blockchain.
In the past, I liked taking risks, but recently I prefer to invest in stuff that is not hyped. If SHIB works for you and you can afford the network fees, congratulations, but I can't until Ethereum fees drop.
About the chart, I took this chart pic today too? It doesn't resemble the chart you posted?
You are correct. I just compared the timeline (y axis) of our charts and I may have accidentally clicked and messed up.
My chart is showing only until April. Thank you for the attention to the detail and for pointing out.
That said I don’t think such a huge downvote is deserved for this, but I appreciate the feedback.
O.K. I will undo the flags.
Yeah HIVE pretty much sucks too, look at the price, it never goes up. Inflationary coins suck. The inflation on HIVE goes down in the long run so I'm not as worried. SHIBA is one of my only winners, I don't like fud posts about shiba, hope you don't take it personally. Would have done the same to any shiba fud post, cause I'm part of the shibArmy. I don't buy it on ethereum either with the fees. SHIB is on the BSC network you know. It's possible to buy SHIB without paying high fees. Once they get their own blockchain going next year to leave eth it probably will moon some more. like the rest of the way to 50 cents and flip the price of doge next even.
I think the FUD is in the eyes of the reader. I explained in the post my reasons to buy were transaction fees on Ethereum. If it is on BSC it solves the fees problem. Still, you saying "shibArmy" makes me even more worried that the coin might be overhyped for my risk tolerance. If I did not buy during the small dump it had this week I wouldn't buy during the pump it is having now, but who knows, some people like/profit betting on breakouts and the price discovery that comes after it.
But again, hype is subjective, just like risk tolerance.
O.K. I unfollowed you, and put you on my mute list, so we shouldn't have a problem any more, I will avoid your postings. I don't wanna talk about it any more, because I don't want your negative attitudes to leach onto me. Your whole post has done nothing but stir pop negative stuff. Good Bye!
O.K. fine, sorry. I over reacted. I mistook it for fud.
Looks like shit is also profitable some time
What ever, i still hold #shiba, i think the #shiba is good to scalping and short term investment, just a reason, thanks