@DcentraliseMe There's a lot of leverage on Bitcoin and it's Trad-Fi derivatives too. Like a stupid amount and the smart ones are shorting the volatility on its way down. Surely as a market maker, RH is seeing this as well
Lets break down how little capital is required to get some of these PRC20's to parity - using #pWBTC as an example.
#pWBTC has ~$823,000 in LP - thats $411,500 on each side of the pools.
So $411,500 worth of #pWBTC is in the pools - and it's price is currently $460. Meaning 895 pWBTC tokens are in the pools.
It's a 217x to $100k
$411,500 x 217 = $89m... so the new value of the pWBTC would have to get to $89m right?... nope...
The price increase is being reflected through arbitrage - pWBTC would be taken out of the pools by the arb bots taking advantage of the 1:1 quote - boring algebra estimates that the pWBTC in the pools would go from 895 to 60 pWBTC
Meaning if you were going for a one shot forced parity with pWBTC in this example - only $6m would be needed to back that move.
Richard is my hero, #PulseChain is a crazy opportunity.
#pDAI to $1
Alex Mashinsky who I spoke against to his face in livestreams has been sentenced to 12 years for Fraud. I warned you then and I'm warning you now. Not your keys not your coins. Crypto was invented to remove counterparty risk, stop giving your money to counterparties!
The final judgement is in. I have defeated the SEC in court, something almost no cryptocurrency has ever done. PulseChain, PulseX and HEX have a legal certainty almost no other coins have. I won for your freedom to publish and associate on the blockchain and to publish the software that empowers you to do so. I did it with no help at all from the "industry" that I've won a victory for. It's time for us all to take it to the next level, the coast is clear for greatness! New opportunities are now open!
Many learn the hard way why the blockchain is so important. Exchanges can screw you for money, because they're not well fucntioning code on the blockchain. People you bet with can not pay you, because the bet's not well functioning code blockchain. People often, extremely often, don't do what they say they're going to do. PulseChain lets pepole remove the need for trust, and introduce security, by being a decentralized, immutible source of truth! The blockchain saves best those that actually use it. Especially for things that don't even require an oracle, computing about data totally on chain already, as that wouldn't require an "oracle."
Verify not trust you say! Smart! https://t.co/8eIDFvuPQU
1,355,810,191,698.669 shows burnt PLSX currently.
You can also add the PLSX supply of burn addresses like 0x0000000000000000000000000000000000000369
Apparently this is the verified contract code of pump dot tires tokens. Seems standard + a launch front run protect h ttps://scan.mypinata.cloud/ipfs/bafybeih3olry3is4e4lzm7rus5l3h6zrphcal5a7ayfkhzm5oivjro2cp4/#/address/0xec4252e62C6dE3D655cA9Ce3AfC12E553ebBA274?tab=contract_code
Read it yourself, I'm not a dev.
I beat the SEC in court. The SEC did not drop its case against me. The judge completely dismissed their case for both failure to state a claim and lack of jurisdiction. This is why PulseChain, PulseX and HEX gained legal certainty that almost no other coin has, even Ethereum.
They judge also rejected the SEC's abandoned alter ego theory. This is a victory for open source software, free speech, PLS, PLSX, HEX and I.
Today the SEC notified the court that it “...does not intend to file an amended complaint...” and their deadline to do so has expired. The Court previously dismissed the SEC’s entire case. Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC completely and have achieved regulatory clarity that nearly no other coins have. They're now safer to work with in ways that almost no other coins are. The SEC walked away from some other cryptocurrency cases voluntarily, but this is the only case where the SEC lost and crypto won across the board, with a dismissal in court of every single claim the SEC brought.
This is a victory for open-source software, cryptocurrency, and free speech. The SEC actually sued software code itself in this case, claiming it could be an alter ego of a person. This would have set a terrible precedent and caused perhaps multiple billions of dollars of damage to the vital open source and free software industry that powers most of the Internet and your speech on it.
Ethereum are you bored? Come where the excitement is. Lots going on in the PulseChain universe, which is perhaps why it's only 3x cheaper to transact in PLS now than ETH. People want to play where the action is.
Come check out PulseChain
bridge.pulsechain. com
gopulse .com stats
Ethereum is the same price now it was 7 years ago, down 71% in 3.4 years. Why? Because it's great tech with no marketing. @VitalikButerin stop dancing for your ingroup and dance for the masses. I want to see you twerking with @saylor. Oh, and MAYBE IF ETH FOLKS STOPPED GATEKEEPING THE ONLY PROJECT YOU HAVE WITH OUTBOUND MARKETING, IT COULD START GOING BETTER FOR US ALL. HEX for instance.
Here's a very easy way to onramp to PulseChain through Ethereum from Peer to Peer cash (Venmo, Revolut, Cash App, Wise) or 40 different chains. https://t.co/Hh6q5LHNfI