Video overview:
- Move2Earn, Move2Broke, Move4Free: Part 1 - has video issues, audio is fine
- Move2Earn, Move2Broke, Move4Free: Part 2
If you wish to retweet:
Link to the handbook, calulator, and other data analysis:
Link to player portfolio retained value:
Link to historical performance:
Only the data science question was addressed
Hey everyone I'm a big fan of stepn.
As energy sharing is staying, what is the reasoning and evidence to keeping it? There is reasoning for why it is a bad thing (solana being used for passive shoes to fuel binance active shoes, which is on solana decreasing burning gst and using gems, decreasing gst and gem demand, decreasing gst and gem price) - yet I haven't heard the good arguments. Adoption of binance chain would still happen without energy sharing, as one could do their 50 minute run on solana then do their 10 minute walk on binance.
Are we allowed to restream these AMAs on twitch and youtube and other streaming platforms?
Will you open up any APIs for community data scientists?
Counter-arguments aren't FUD. FUD is solved through better arguments and more transparency, not just "trust me/us".
Question he did not finish and told me to get lost on:
When will this become an AMA instead of a press release? - ok, 38 minutes in, would be nice to announce the agenda the start.
Everytime when asked to be transparent the tokenomic impacts of energy sharing on GST (be it good or bad), the response is "forget GST, GMT is all that matters". Why not promote GMT while being transparent about the tokenomic impacts of energy sharing on GST?
FUD is fear uncertainty doubt - but what is its cause? people have fear, uncertainty and doubt when all they are told is "have faith" despite reasoning that is not being addressed culminating. Stop expecting obedience and certain belief, and give us reasons to agree with you. We can't evangelise with "trust em" against legitimate criticisms, that demands a cultic belief not a superior belief. We care about superior arguments, and to help you become superior via transparency.
We get there is a bear market, we get there are all these things outside Step control. We get you have competitors and antagonistic forces that engage in cognitive warfare and financial warfare. However, what we are wanting addressed is transparency about the things you can control which is the tokenomics.
Everytime when asked to be transparent the tokenomic impacts of energy sharing on GST (be it good or bad), the response is "forget GST, GMT is all that matters". Why not promote GMT while being transparent about the tokenomic impacts of energy sharing on GST?
For instance, we get the energy sharing is staying, but what is the reasoning and evidence to keeping it? There is reasoning for why it is a bad thing (solana being used for passive shoes to fuel binance active shoes, which is on solan decreasing burning gst and using gems, decreasing gst and gem demand, decreasing gst and gem price) - yet I haven't heard the good arguments. Adoption of binance chain would still happen without energy sharing, as one could do their 50 minute run on solana then do their 10 minute walk on binance.
Ignored question by someone else, which illustrates community frustration:
We don't care about energy link about BSC about anything. All we care is the LEADERSHIP of this project to Step Forward and reassure us, that everything is going according to plan / roadmap, and even if problems/issues appear, they work towards resolving them. AND Finally cast a vision for the next months. That's all we want. Re-assurance that everything is GOOD and most importantly... PROGRESSING . @Yawn @Jerry Thank you
misinformation is misinformation, FUD is fear uncertainty and doubt. FUD is an emotional state, not a strategy in of itself.
In cognitive warfare (which has been documented since at least Sun Tsu's Art of War several thousand years ago) causing FUD in the enemy's personnel has been a goal, as a way to weaken and defect the enemy by disrupting the unity and harmony of soldier loyalty; this is where propaganda has its effect; propaganda being that which furthers a nations talking points, in competition with another, be they true or false.
However, FUD extends beyond cognitive warfare and is typical of any crowd madness, or any instance of mass hysteria, civil unrest. Orwell's 1984 illustrates this when the enemy is changed mid-speech, voiding their axioms until a new normal is assimilated. Homer's Iliad illustrates this on the shores post-vision, when hubbub descends.
It doesn't even need to be indicative of crowd dynamics though. In an individual, it is just when faith held axioms weaken, and one is left with skepticism that they are unable to redress - hence they experience fear, uncertainty, and doubt, against this new unknown. Crime and Punishment illustrates this in the protagonist post-murder with sound axioms realised in the final act.
People with sound axioms do not multiply this FUD experience within themselves, it only multiplies in zealous communities when their faith weakens. Observe what happens in people when one inquires recursively about the "why" of their motivations, some will experience FUD and manifest a fight or flight response, whereas others experience adventurous curiosity.
It is quite well documented across the thousands of years, and has a dedicated wikipedia page, despite it being new to the cryptocurrency world.
The best way to fight it, is to make sure your teams axioms are sound, that way disinformation and misinformation or even righteous counter-arguments will be ineffectual, as you can ward them off with superior reasoning.
It's not free coffees though. By that logic if I put a thousand dollars into a bank account for spending on coffee, magically I get free coffee when I spend the money I put in there. It's only free coffee if we are past ROI, and even then, it wasn't free, it was paid for by someone else who just joined in. The current situation is we spent say $5000 to get back only a portion of it. It's like for each $50 we pay now, we get to drink a $5 coffee later. Would have been better to Move4Free and actually have $50 to spend on coffees.
Any pump at this point, is probably just whales taking profits on their short positions via buybacks, then opening new short positions via buys and sells. This has been the last 48 hours across all crypto on rinse and repeat every few hours. You can see these on exchanges by (1) green candles with huge wicks, these are whales liquidating retail short positions on their short close buybacks so the whale can open their new short position at a higher price. (2) green candles followed immediately by an equal red candle, or a green candle with the same open and close but a huge wick, this is just a short position opening. Some exchanges also let you see the volume at which position, a week ago FTX had 6 million at a $0 buyback.
The reason you are getting 🤡 emoji is that you don't address the actual causes:
(1) Since stepn launched, tokenomics required new players to join. Both realms have been seeing a decrease because new players are stagnating and active players have been leaving (according to dune, which could be incorrect/incomplete). The team has announced several things to address this over the months, to address supply and demand (anti mint farming, anti-cheat), but also to address incentives (GMT earning, Mystery Box dynamics).
(2) Since binance chain launched, tokenomics caused passive sneakers on solana to reduce solana gst burn, with active sneakers on binance still earning gst. This caused solana gst decline to go faster than the binance gst decline, but remember (1) impacts both realms. The team have announced a plan to address this.
(3) Solana GST is available for shorting on FTX. I am unsure about Binance GST shorting options. As of a few days ago, there were 6 million dollars shorting Solana GST to $0 on FTX. Today's volume for Solana GST-PERP is 12 million. Compare that with what players are doing. The stepn dex may address this, as it incentivises moving gst and gmt supply to their dex, which may offer better incentives (such as the market maker interest rates) over the current short sell returns. For those new to short selling and market manipulation, short selling is when one does an IOU for borrow of gst at market price then sells it immediately, and then buys it back at a lower price to close the IOU, making a profit as the market goes down. Market manipulation is common, especially by whales, see Wycoff Method, Composite Man, or even what happened with the Gamestop Short Squeeze.
Whatever your proposal regarding tokenomics, it has to be more important than the millions of dollars shorting GST outside the app.
Oversupply of sneakers increases the passive shoes to active shoe ratio, which ultimately decreases gst burning, thus lowering gst price. This is the entire reason the team has been fighting mint farming and plan to introduce shoe burning mechanisms.
Minting only ultimately increases gst burning if the sneaker becomes an active shoe for the buyer, if it isn't, if the sneaker becomes passive, then it just ultimately increases gst supply for the mover who earns more gst from more energy.
With current market conditions of less new players and more active players leaving, the probability of a minted shoe being an active sneaker is poor, and the rhetoric of minting shoes indeed burns gst is just shortsighted, it ultimately doesn't.
Re gst pumping, be careful of long wicks on the candles during bear trends as they are indicative of new short positions opening. See my earlier posts for a more detailed explanation.
If you are wondering what the current minting cost and profit is for common and common shoe combos, this page will auto-update with the latest USD result. You can use the dropdown to switch between Solana and Binance: https://coda.io/@balupton/move2earn/shoe-minting-70
Let me know if you want to see comparison against mint level 0 marketplace shoes instead.
Regarding gem selling, I'm curious as to the demand for gems, as well as to the supply of capital to buy gems. Why buy gems in current market conditions? And who can afford higher level gems (the profitable gems to sell) if their gst earnings are dollars a day? Seems capital for gem demand requires people pouring in more and more external capital… I can understand this if GMT earning is just around the corner, however GMT earning is months away, so will people really be pouring in more external capital while GST declines to buy gems? Seems like it is the same GST situation about to happen for gems, where oversupply leads to devaluation.
To prove there is more demand than supply, one has to address both: (1) What is fuelling the gem demand, (2) What will fuel the capital for that demand?
Anyone who can expound on those demand inquiries has my ears. If it is an unknown, then that is something the players must consider in the ROI risk analysis and the team has to consider in their sustainability analysis.
Followups:
https://discord.com/channels/890163015561932840/903623796399964180/985551167029399562
https://discord.com/channels/890163015561932840/903623796399964180/985571464432451686
Great, this addresses demand, but we still need to address the source of capital for that demand. If it is gst earnings as the source of capital, then as gst lowers then the available supply of capital for gem buying diminishes, and as such so would prices to meet what buyers can pay. If however the source of capital is external, which it would have to be if gem prices are to not follow gst earning declines, then who would buy these gems with this external capital, when there is no active earning token (gmt months away, and gst declined). If the gem phase of the game is just a speculators market for gmt earning, it seems a very risky few months, as demand falls into the mercy of wealthy speculators instead of average players. If the gem phase of the game is paid for by gst earnings, then gem prices will fail to meet the gst earnings of players. Both cases seem like relying on gems for ROIs is a timebomb just like what GST was. With the hope the timebomb is deactivated by the time GMT earning arrives, but may risk still leading many non-early-whales to ruin, as GST has. Unless this is addressed, then ecosystem demand will continue to fall until GMT earnings heals the bleeding by completing the ecosystem loop, but that means by the time GMT earning lands one could just buy in or buy back into the stepn ecosystem at massive discount, with prices of shoes and gems severely depressed than what they are now, and be better off than current players who invest now or hold their investments. So addressing this supply of capital for gem demand over the next few months is really crucial, and I hope the team have ideas.
So did some research, the historical gem price charts are have already shown a gradual decline, with a 50% decline since the 9th of June (note that the price charts are logarithmic scale, so best to select one network, then select one gem attribute): https://discord.com/channels/890163015561932840/905589553690189905/982489363910901790
You can now follow https://twitter.com/how2move2earn for the latest floor price trends
Data pulled from here which includes raw data as well as interactive historical price charts: https://coda.io/@balupton/move2earn/price-charts-66