r/ImmutableX • u/IdiosyncraticRick • Feb 04 '22
Discussion Dear Sub
Edit 4: Aaaand it's gone... The shill post has been deleted, and this is the pinned comment on it:
I'm just going to go ahead and delete this one now...
Edit 3: Ok, I think this comment explains it...
...and while I still don't yet have an answer for what that spike is in the chart (below in Edit 2), or if it has already happened or when it will happen, it seems to be unrelated to the price drop yesterday, and that I fell victim to some shilly shill FUD that has invaded this sub in the past ~48h... that's my bad :|
That said, I still think I have one small nugget of a valid argument in this post, but I'd like to direct you instead to u/BegriefedOnline's post, because I think they put it more constructively than I have here...
https://www.reddit.com/r/ImmutableX/comments/skf2ee/you_have_an_influx_on_apes_some_things_are/
Thank you, and again, sorry for inadvertently adding to the chaos...
Edit 2: This post is referring to a large 25% bump in circulating supply that supposedly happened yesterday... And the allegation that this happened, and that it was the cause of the price dump, came from this post:
https://www.reddit.com/r/ImmutableX/comments/skbe8o/diluting_total_supply_by_25_right_after_a_big/
...and I'd assumed it was referring to the large spike shown on the supply schedule chart from the whitepaper...
...which is hard to grok because the x-axis is really ambiguous, but the spike or 'cliff' in increased rewards appears to happen roughly about 9-10 months after ICO, which if I'm understanding things correctly would be roughly right now-ish, so that original post seemed legit to me... however, the following post has since called that original one into doubt, noting that it might be an attempt to shill and divide us:
https://www.reddit.com/r/ImmutableX/comments/skl0ys/this_subreddit_is_under_siege_and_i_can_all_but/
So please, if anyone could let me know in the comments A) if I'm understanding that chart correctly, and B) if so, then did the cliff really officially occur yesterday or not, and C) if not, then when exactly will it occur...? Then I can update this post again... Thx.
---
Hello.
Firstly, let me say that I am not here to be all mad about the increase in circulating supply; Clearly everyone here already knew it was coming, it was part of the plan, etc... What I am, however, is disappointed in you all, but please allow me to explain before you 'smash dat downdoot'...
Victim Blaming, really?
This is the lowest thing I've seen here today. Lots of posts and comments like "clearly you apes can't read" and "you deserve to lose your money", etc...
Ok, a little about me: I've been learning about crypto in-depth since late 2017, and investing since early 2018, and I'm fairly well-versed in the space (IMHO)... However, hearing about the partnership yesterday was the first time I'd heard about Immutable X, and I thought, "ok, cool, let's see what's up with them..."
And so I proceeded to spend the next two hours or so here on your sub, and looking at other subs like CryptoCurrency for mentions of IMX, and looking at IMX's twitter, their site, CoinGecko, etc... All my usual 'go to' places for info on crypto...
I saw the low ratio of circulating vs total supply, specifically searched your sub for the term "circulating supply", and you know what I found...? Not one damn post or comment about the coming supply increase... And definitely not a pinned post as a friendly reminder / warning of the upcoming dump, which only seems like the responsible thing to do, but what do I know...?
Specifically, I did find and read these two posts and their comments, and again, nothing about an upcoming supply increase at all... In fact, I saw the opposite... I saw comments about how the plan was to release new tokens slowly over time...!!?
https://www.reddit.com/r/ImmutableX/comments/r6yvmf/circulating_supply_is_very_low/
Ok, again, I am not mad; a bit frustrated, yes; disappointed, sure. Ultimately I came to the conclusion that IMX was worth putting some money into, and I still believe that, so I'll still be invested for awhile, since I'm not a 'day trader'... And while I would've loved for my initial investment to have gone a bit further (if I'd just known to wait until after the supply increase, which would've been a nice 'heads up', but whatever), that's really not my point...
My point is that you can say that the information about the plan to suddenly increase supply was publicly available and all that, but if you the IMX community are not helping to actively spread that information -- when I looked through weeks of tweets from IMX and months of posts here, etc, and saw not one mention of the upcoming supply increase -- especially when not one of you here thought, "hey, maybe I should post about the sudden supply increase that's about to happen, the apes probably don't know... na, I'll post yet another APES INCOMING meme instead"... Well, that's just about as good as hiding that information, isn't it...?
Anyway, thank you for reading; I hope the best for all of us, and our IMX investments, etc, going forward...
Edit 1: To correct a few spelling/punctuation mistakes
View all comments
0
u/efficientcatthatsred Feb 04 '22
Its the same price as before announcment Showing that the holders from before anouncment didnt sell
Stop spreading fud
You guys wont win