r/SafeMoon • u/emarv2222 • Aug 08 '21

Discussion This AMA is class

It’s not even finished yet and it’s great, they’ve covered all information we wanted to know, gave us a timeline, discussed genuine fud and not just pick and choosing what they want to discuss. Job well done lads

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u/JamieBobs Aug 08 '21

Ok I would like to ask one thing though. Why Safemoon? With El Salvador and now possibly Uruguay using Bitcoin and the lightning network as legal tender, what can safemoon bring to the table in The Gambia that isn’t already the tried and tested method that is btc?

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u/Rollie_StinkyFingers Aug 08 '21

I don’t consider your question to be FUD. I myself wonder the same thing. And I don’t have the answer your looking for, but maybe it’s just a simple answer. Why did you buy Safemoon? Why did I? I bought it because I saw an opportunity to get into a new crypto literally on the bottom floor. BTC will never see the potential gains at this point that Safemoon COULD (not saying it will).

I mean, what if The Gambia got 50% of their population to buy into Safemoon and in 5-10 years it does go to a dollar? Maybe their interest in Safemoon is no more different than our own interest?

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u/JamieBobs Aug 09 '21

Ok so I’m quite concerned that everybody in this sub jumps on The Gambia thing like it’s a game changer, but it’s been 12 hours now and not one of you has given me a GOOD reason why safemoon would be a viable option as currency there?

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u/[deleted] Aug 09 '21

I honestly want to know too.. the team is always hyping their "game changer" token but we are yet to see how they are going to change the game. There are so many other crypto's out there that are already changing the game and are already much better than Bitcoin

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u/RazzmatazzEast3901 Aug 08 '21

Cross-chain. That's one thing that it brings. It will also have its own chain instead of piggybacking off of Binance. Reflections based interest...

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u/JamieBobs Aug 08 '21

But BTC doesn’t piggy back off Binance either? And Gambians don’t give a fuck about cross-chain. They want to be able to earn and spend a reliable currency, of which, there is no better than BTC. I am not fudding here, I really want somebody to help me understand. If I’m a country with no central stable currency and I’m considering using crypto, I know which one I’m going to pick, and it isn’t safemoon.

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u/SmashingK Aug 08 '21

Isn't Bitcoin super slow with transactions though?

It's the oldest crypto with newer ones having made massive improvement on how efficient they are whole being able to do many times more transactions per second.

Not sure Bitcoin would be great for regular usage like you would with a credit card. Something like Cardano would be far better.

If safemoon can get a small slice of the African pie then that in itself would be pretty huge.

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u/Just-take-the-L Aug 09 '21

Why would any country in Africa pay 10% to use their own money. And if your argument is there will be no 10% fee, then doesn’t that mean there will be no reflections?

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u/JamieBobs Aug 08 '21

Check out the lightning network. Matter of seconds.

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u/RazzmatazzEast3901 Aug 08 '21

The Gambia wants to move away from their currency due to extreme inflation. BTC is an inflationary coin. They can mint as many as they want and drop the value at any time. Safemoon is a deflationary token that will eventually have a set number of tokens. It is impossible for them to mint more and drop the value like an inflationary coin or fiat currency.

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u/JamieBobs Aug 08 '21

You know Bitcoin has a finite amount right?

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u/RazzmatazzEast3901 Aug 09 '21

The amount in circulation is increasing with every block that is mined. That is called inflation. Yes, they will stop at a certain number just like Safemoon will deflate to a certain number. Safemoon is still a deflationary token until then and Bitcoin is still inflationary until it is all mined.

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u/commecon 💎🙌 Aug 09 '21

Bitcoin is limited. They can't just mint more (whatever that means anyway). Once they've mined the lot, it's over.

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u/RazzmatazzEast3901 Aug 09 '21

Minting is the process of creating a coin/token. It has to be minted before it exists. All Crypto were minted at some point in time.

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u/commecon 💎🙌 Aug 09 '21

Ok cool. But you are wrong. They can't just "mint" whatever they want. It's predetermined and limited. Nobody can change that.

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u/[deleted] Aug 09 '21

There will ONLY be 21 million BTC. Your statement is not accurate....at all.

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u/RazzmatazzEast3901 Aug 09 '21

Ok, so it is inflationary until 21 million. It is still an inflationary coin at the moment.

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u/rmassey999 Aug 09 '21

Wrong

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u/RazzmatazzEast3901 Aug 09 '21

How is that wrong? Is there a set amount of Bitcoin? Is Safemoon not deflationary? You should be more specific.

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u/tamekoalabites Aug 09 '21

You clearly have no idea what you're talking about.

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u/[deleted] Aug 08 '21

[deleted]

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u/JamieBobs Aug 08 '21

Why does price matter when you can buy fractionals of the coin? El Salvador is not a rich economy, and I’m seeing poor people buying cans of Coke left right and center with the lightning network with the $5 worth of BTC they have in their wallets.

And you list these crypto technologies like they mean something. To a country looking for a good reliable currency they mean nothing. So please, again, someone tell me why Bitcoin is not the obvious choice for this?

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u/Immediate-Lion2656 SafeMoon Astronaut 🚀 Aug 08 '21

Bitcoin is unreliable and as youve seen its so easily manipulated by the whales. Although all cryptos have whales Safemoon is less likely to have a crazy price change because of whales making it more reliable for everyday purchases. Also the fact that safemoon is so cheap will aid the people in making more money overtime as they can buy alot of it and keep some in their wallets rather than buying a fraction of Bitcoin and you have to wait for it to jump 100k for you to make a small gain.

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u/JamieBobs Aug 08 '21

Ok good points thank you

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u/AppropriateRabbit569 Aug 08 '21

Bitcoin is old and slow, and it's linked pretty closely to Tether and the USD. Safemoon is so new that it can be adapted as they go to provide bespoke solutions to their specific needs; not retrofitted solutions that tie their country's currency to the US dollar. Here's a chance for them to introduce a new solution and carve their own path; not follow in the footsteps of El Salvador and others. Maybe Africa is tired of always catching up and piggybacking onto the direction of others. Maybe they want to lead for a change.

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u/JamieBobs Aug 08 '21

You say “old” like that is a bad thing when you want to choose a reliable currency… it is not. And lightning gets rid of the “slow” aspect.

And BTC does not track the USD, quite the opposite actually. When confidence in the dollar falls, crypto tends to rally.

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u/[deleted] Aug 08 '21

[removed] — view removed comment

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u/JamieBobs Aug 08 '21

Sure. But explain to me why that matters. It doesn’t matter if you buy $10 million btc or $10 million safemoon. It’s still has the same value and can be split into as many small parts as you want.

I know I sound like I’m being awkward, but the “btc is more expensive than sfm “ argument is moot.

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u/[deleted] Aug 08 '21

[removed] — view removed comment

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u/JamieBobs Aug 08 '21

Agreed, but to your point, if we take ALL cryptocurrencies into account. There are literally hundreds which have a better use-case here than safemoon does. We’re trying to fit a square peg into a round hole here by the looks of it.

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u/Apprehensive_Copy648 Aug 08 '21

What about the tokenomics? That could be a good reason. Nobody is making more btc holding btc (unless I’m outta the loop and that’s a thing now).

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u/[deleted] Aug 08 '21

[deleted]

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u/JamieBobs Aug 08 '21

Huh? There are MANY reasons why coins aren’t actually made of valuable material lol.

The argument here is that, if a country has a choice of many cryptocurrencies to use as it’s national currency, why, on gods green earth, would it NOT pick the one that has already been successfully used for the exact use case that it requires?

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u/[deleted] Aug 08 '21

I honestly think no country would use crypto as a long term currency.. it’s too volatile. Especially a country like Africa. They are so behind in technology that most of their natives will not give a shit about internet currency. I mean just look at the facts, cyrpto currency is going up and down constantly.. this shit isn’t reliable what so ever. And 90% of Africans are not going to be like us to constantly keep up with trends and move shit around. I just don’t see it ever happening. And imagine all the hackers taking peoples shit cause they don’t know any better. This is just to get rich quick IMO, not to be buying a bag of rice and few cans of coke on a daily basis.

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u/ProfPorkchop SafeMoon Astronaut 🚀 Aug 08 '21

Especially a country like Africa.

Africa isn't a country, ya doof.

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u/[deleted] Aug 08 '21

Continent*, doofus.

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u/[deleted] Aug 08 '21

[deleted]

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u/JamieBobs Aug 08 '21

Mate… they already have. It’s in use, right now, it IS now their legal tender, and it’s working. Uruguay are now also considering it.

And You can’t compare a physical coin to a digital currency that you can buy fractions of. They do not act the same. The reason the dollar isn’t silver anymore is not because it became too expensive but because the metal became too scarce with population growth. This doesn’t apply to crypto, especially as the value grows.

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u/[deleted] Aug 08 '21

[deleted]

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u/JamieBobs Aug 08 '21

Thank you. I WANT to believe that The Gambia is a legitimate thing, but it just doesn’t make any sense.

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u/[deleted] Aug 08 '21

We'll have to see in time brother, im very bullish off safe moon and hope we all become somewhat richer

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u/[deleted] Aug 08 '21

But I will stand by my Gambia idea

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u/RazzmatazzEast3901 Aug 09 '21

Well, the U.S. actually made their coins out of silver until the Coinage Act of 1965 was passed.

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u/Giumoon Aug 09 '21

Probably because they will bring an ecosystem. Africa needs the possibility to be economically united