Hello and welcome back to the daily Safemoon news and updates review. In this content, I will talk about Safemoon and its upcoming blockchain. How safemoon will profit from its own blockchain and how this will affect Safemoon price, all of this in today’s content. So yeah, this content is super interesting so make sure to watch it until the very end. Disclaimer. Also if you are interested in getting price predictions and crypto news literally every hour, then join my telegram channel, we already have more than 2000 people. By the way, be careful of scammers pretending to be me on social media. I would never ask your 12 secret words. Links to my official Social Media accounts are in the description. If you are wondering, why does my intro say that I’m giving now 5 million safemoon instead of Ethereum, then here’s a quick explanation. Views on my channel decreased a little recently, so I had to lower my giveaway budget. By the way, a lot of you asked for transparency, so now you will see daily giveaway winners. Alright, so now let’s get to this content.
This is a Breakdown Of Why A Blockchain Is Good News And How It Benefits Us. Just before we start, I want to give credit to Reddit user “g1710”. Links will be in the description. The key to this token is volume – it gives us reflections and burns down the supply and assuming the market cap stays the same – increases the value per Safemoon. If the market cap goes up, even better. We are on Binance’s blockchain, which means they take fees out of us all over the place and tie our price to theirs to some degree. By creating our own blockchain, we won’t be paying fees outside the family, it’ll all stay with us.
This will either reduce fees when buying or increase reflection/burn if the fees are shared with us. The next thing is that we’re creating bridges to other blockchains, this means that we can transact from Safemoon to other coins seamlessly, without converting to X, then to Y, etc. This makes us a user token for moving money around. People will say ‘what about the 10%’, but it doesn’t matter, we can just be used for fees and the transaction basically moves from X to Y, powered by us. We see reflection/fees from that. Our exchange/wallet will lead to more fees, which will be charged in Safemoon (without a portion going back to Binance as we won’t be on their blockchain by then). It’ll pay out reflections on other cryptos too and they confirmed they won’t charge 10% on other coins, just normal exchange fees. As such, it’s likely to be massively popular. This again leads to higher burns and reflections. Simplex integration and crypto to FIAT mean that the card can be used for everyday transactions and payments won’t just be in Safemoon, you’ll be able to pay with almost any crypto.
This means people are likely to pick up the Wallet and card, even if they don’t hold Safemoon as it’s convenient, looks good and they get reflections for using that, rather than a rival. As with everything, fees will be in Safemoon. We benefit as we get reflections and we get burn. Finally, our ecosystem will now be backed by our blockchain, which can transact across lots of other blockchains. This means we can allow tokens to sit on our blockchain and we’ll collect fees from them every time they do anything. These fees will…you get the picture.
Why would they launch on our blockchain over BNB, ETH, or whatever? Well, they can choose to launch on one blockchain and if they want to transact across the market, they can use our bridges and pay us fees. They could just launch on our blockchain in the first place and cut out a step in transacting across other blockchains. I’d imagine they’d get some preference if they sit on our blockchain. The stuff with the Gambia and other countries to follow (that’s already in the roadmap), means real-world integration of crypto, more transactions, more reflection, and more burn. Crucially though, it also means we’re likely to see more adoption, the market could grow and therefore the glass ceiling raises up for the whole market, not just us. It will be just like with Binance. If you didn’t know, 3 years ago Binance exchange didn’t have their own blockchain as they do right now. Take a look at this news article from 2018. Binance, the world’s largest crypto exchange by trading volumes, will launch its own blockchain Binance Chain in the coming months, as the company revealed in a tweet on 4th December 2018.
The new Binance-backed blockchain aims to provide a basis for creating new cryptocurrencies and Initial Coin Offering (ICO) tokens, as the company said in the tweet: Binance is pushing for blockchain adoption and doing many things to help the advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can easily issue tokens. According to Forbes, Binance announced their plans during a recent private event in Singapore hosted by Forbes Asia. Speaking at the Decrypting Blockchain for Business event, Binance CEO Changpeng Zhao (CZ) stated that the new plans actually indicate an old vision of crypto, which will expectedly lead to increasing its adoption on a global scale. In order to reach a fundamental payment adoption increase, CZ said that the company will be pushing really hard into that space since their original intent hasn’t taken off for some reason. That’s what started the big growth of the Binance coin. What if you invested $1000 in Binance coin 4 years ago? Binance Coin started with an initial coin offering (ICO) where it could be purchased using Bitcoin or Ethereum.
Its earliest recorded cash price on CoinMarketCap comes on July 25, 2017, when it was available for as little as $0.
10. If you had bought $1,000 worth, you would have gotten 10,000 BNB. The current price of Binance Coin is $290.57. Your investment would now be worth over $2.9 million. That’s a jaw-dropping number, and it’s not even the best you could’ve done. When Binance Coin hit its all-time high of $690.93 on May 10, 2021, 10,000 BNB was worth nearly $7 million. So that proves how low are we currently with Safemoon. It’s just the beginning. But before you invest more in safemoon or encourage your friends to invest in safemoon crazy amounts of money, listen to this message about the fisherman. The rich industrialist was horrified to find the fisherman lying beside his boat, smoking a pipe. “Why aren’t you out fishing?” – asked the industrialist. “Because I have caught enough fish for the day”. “Why don’t you catch some more?” “What would I do with them?” “You could earn more money, Then you could have a motor fitted to your boat to go into deeper waters and catch more fish.
Then you would have enough money to buy nylon nets. These would bring you more fish and more money. Soon you would have enough money to own two boats. Maybe even a fleet of boats. Then you would be a rich man like me.” “What would I do then?” “Then you could sit back and enjoy life.” So here the fisherman says “What do you think I’m doing right now?” I hope this story makes something click in your brain. I mean getting out of poverty is not a bad thing at all. But don’t get me wrong, all I’m trying to say is that you don’t need to encourage your friends to buy a lot of safemoon tokens.
At first, most of them will paper hands and get only losses. Secondly, not all people are dreaming to be rich. You can help me to spread this message further by sharing this content with friends. If you enjoyed this content, then please like this content and comment something, this would really help me out to reach the youtube algorithm. But, note that I’m not forcing you to invest in this project. It’s 100% your personal decision.
Also if you are interested in getting price predictions and crypto news literally every hour, then join my telegram channel, we already have more than 2000 people. Don’t forget to check out other content on this channel. Thanks for watching!.
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