Strong Block slayed their early adopters.
They made a pretty bold move to try to stop the bleeding of their token price last week…
And pretty much if you bought ANYWHERE along here to maybe here, you may FEEL like a crime
has been committed, you had super unfortunate timing - so did I..
Those nodes cost you anywhere from 3000 to I dont know, 10 thousand dollars to make,
and you likely didnt do the perfect sells to get that money back..
Or in the case of the October nodes, I dont think you ever could have.
Any strong block node thats ever been created, now, will only ever produce 20 strong/stronger
token rewards, even retroactively.
Well, the really old ones produced more than 20 but the point is, starting last week, any
nodes that have already created 20 strong/stronger have poofed themselves out of existence.
I do wonder what that means for whatever actual hardware was represented in these purchases
- but Im not in the business of making accusations that I dont understand myself.
When you sign into strongblock.com now, you’ll see your list of nodes like normal and now
under the amount each node has earned that you have yet to claim is a little progress
bar.
That progress bar represents the life span of your node.
Once its all the way filled up, your node starts texting with presumably younger and
better looking node holders and ghosts you forever.
Also in this update - for reasons no one seems to be able to understand, including me - the
button to claim all and pay fees for all nodes is no longer present.
This doesnt mean that it will cost more to claim each node - claim all always just added
up the gas fees of each node as a separate transaction - but now you have to go through
and claim, in my case, 15 different times!
IN GENERAL, getting back 20 stronger for a thing that cost you 10 stronger over the course
of a couple hundred days for easy math - WOULD be a fine investment, still.
Even though you have all the fees paid along the way, doubling whatever amount of money
you put in would be worth it.
Except that the chart has now been quite consistently going down faster than you would benefit from
doing this.
Also, they changed the description of the Ethereum node to say that rewards are variable
and are not guaranteed.
It used to say .091 Strong per day per node or whatever it was.
The Entangled nodes that you can create now DO specify that they will return 0.075 stronger
per day with a max of 20 stronger - so its more like 266 days for those to run their
course.
They have the added benefit of a single gas fee for however many of those nodes you’ve
got - so right this moment for those with a stronger price of 14, the math looks like
this $140 to start the node - it will exist for
about 9 months, so $15 fee 8 times is $120 in fees, for 20 stronger tokens, which if
the price stayed 14 bucks is $280 - minus the fees you pay, minus the creation fee and
youre left with a $20 profit.
And thats ignoring the gas fees to create, to pay the fee, and to claim at the end.
SO…
At such a low token price, this doesnt work.
At least this doesnt work to provide a profit.
Sure if you have a BUNCH of entangled nodes, you can pretty much ignore gas because its
one fee for all nodes combined.
So thats cool..
but the price needs to consistently go up for this thing to make any substantial profit
for anyone.
The whole point of them retiring however many thousands of nodes they did all at once was
to curb the selling pressure and hopefully stabilize the price somewhat, which it initially
looked like it was going to do!
The price shot up from 13 dollars to 28 dollars really fast!
But almost immediately came back down and is somehow on another death crawl right back
down to 13 bucks.
Which hopefully I guess theres just not enough time on this graph and MAYBE its actually
flat, which would be an improvement - but looks like it continues to bleed.
One would have to imagine once it dips below a price where the fees are higher than the
earnings, another large chunk of ‘nonbelievers’ will drop off and it should restabilize, if
nothing else at a zero sum.
The market SHOULD find that spot and if there is no nefarious business going on, looking
at you Luna, then theres no reason we shouldn’t stay locked into that price chart Lagrange
point until either someone very famous mentions it one time, or until StrongChain is finished
and operational.
For me at least, all eyes back towards the so far mythical Strong Chain.
Strong Chain will be a level 1 block chain.
Which means, it will be functionally the same animal as Ethereum, Binance Smart Chain or
Avalanche - which have all gone pretty well on a long scale!
If you would have held your 14 dollar ether bucks some years ago - you’d be very very
very well off now.
But, all of those blockchains and tons more exist already - so SOMEHOW StrongChain will
have to get going and be adopted and get used by a bunch of new projects so some sort of
revenue and utility get entered into this whole thing.
Now were back to what I said a few weeks ago - IF that can happen, Strongblock will survive
and that will define if you were a genius for paying these fees and piling up and hoarding
these tokens - or a sucker who put his grocery bags back on the stove without checking to
see if it had just been on when you got back from the store.
Thats the worst.
The good news is that according to Fortune Business Insights, whatever that is, The global
blockchain market is projected to grow from $7.18 billion in 2022 to $163.83 billion by
2029, Ill link to that in the description if you want to read it…
So evidently MOAR BLOCKCHAIN is something the hungry web3 juggernaut is going to be
muttering through his teeth as he trudges through SkyNet.
So thats great news if StrongChain is a quality blockchain AND if they keep this nodes as
a service thing going after they’ve got the blockchain growing - though Im not entirely
sure what incentive they have to do that..
I still dont ACTUALLY know what these nodes even are!
Ive also got a tiny amount in this less popular mining pool on their app, UNI-V2 LP ETH-STRNGR
pool - say that five times fast..
And in a month, 10 stronger paired with 150 bucks of ETH has mined 1.3 stronger, although,
as you can see here it would cost like 20 bucks to UNMINE it and well, 1.3 stronger
is only worth about that, so that whole month would have been for not.
At these super low token prices its basically not worth it right now to do…. anything.
You’d have to be holding a lot of stronger tokens to make any reasonable profit mining
with them, THOUGH that process doesnt have a monthly fee so if you do have like 100 stronger
then maybe go for it!
Pretty much if you believe in the future of this thing, hang on, pay your fees, maybe
make some more nodes with rewards once you lose some of your old ones..
But claiming to sell has JUST about lost all value.
Claiming to hold still makes sense if you think its going to go up and if you end up
being right.
I mean, jeez, these 40 Stronger I have now, there was a time when these would have been
worth like 20,000 dollars.
Those were the days.