Hello,
While looking at the firo/btc price being at a crucial multi year support, I wonder if the current amount of masternodes (allnodes alone has 4290 masternodes online currently) is producing too much firo selling/inflation on CEX-es and could trample Firo in terms of public awareness just ahead of the Lelantus Spark mainnet event?
As we all know most of the public is in crypto because of profits so they look first at the coins marketcap ranking and price movement in $ on weekly timeframes. I am afraid that until the next firo halving in september 2024 we could have some unexpected drops in price , especially if the support on the btc pair breaks loose.
ps.
Another thing i forgot to mention. At such low price levels in usd , in my opinion, it is very dangerous that someone could actually slowly accumulate enough Firo to host enough masternodes to put the chain in danger of an attack. Firo has been crawling from 3$-1.5$ for quite long time. That’s alot of time for a bad actor to accumulate plenty of Firo at such low volume.
The current price of firo is indeed too low, which can easily lead to the crazy hoarding of a large number of coins by lawless people, and it will not be controlled by hackers one day
Well that’s not much that the core team can do to control price and remember an attacker has to compromise both PoW and masternodes to do something.
Sure they can acquire a bunch now, and it does seem that someone is artificially suppressing the price to acquire more (see the sell walls that never hit), but it would still require millions of dollars to do so and even so, would be hurtful to their own investment.
I mean if someone wants to pay attention to us to hurt their money to destroy the project, sure that’s always a risk with any project.
As for emission, since we already had a halving, emission isn’t that significant and also some masternode owners are making new ones.
It can be seen that someone has been suppressing the price of the currency, not to let firo rise, may be taking the opportunity to acquire at a low price, the project side needs to do a good job of coping strategies to prevent the network from being controlled by hackers again, we must have corresponding coping strategies.
Regarding safety Don’t forget about 51%, so the safety of the Firo is straightforward to the number of Masternode cores, miners. Thus, the more Masternode cores and miners, the higher the safety. Wherein, the higher the price of the Firo, the will be more Masternode cores and miners. Therefore, buying up an Firo with the aim of breaking it will not work. Because a large buying, even slow accumulation, will lead to a large demand, and demand will lead to an increase in price, and an increase in price will lead, accordingly, to an increase in Masternode cores and miners.
Simply put, the price and safety of an Firo this is a Graph of uniform rectilinear movement from point “0”, where “x” is price Firo and “y” is safety Firo.
By the way, Lelantus Spark a Firo
will provide not only safety but also security owners Firo.
will become “Yin Yang”, will support two opposites “openness and confidential”.
The project is good, so most likely in the near future there will be at least 10% of confidential crypto-assets transferred into it.