Quote from: finaleshot2016 on September 11, 2020, 07:03:58 AM

Quote from: 20kevin20 on August 30, 2020, 02:23:41 PM

Just finished writing a post on someone else's thread about it:

Quote from: 20kevin20 on August 30, 2020, 02:19:04 PM

They were smart enough to set their supply to way fewer coins than most cryptos, and that attracted a lot of attention from everyone. If you were to multiply the 30k supply by 700 times (to get to BTC's max supply) and then divide the current price (~$29k) by 700, at Bitcoin's supply it'd be worth $41.5 right now. It's a very very vague calculus but I'm only considering the supply & price/coin.

In other words, it may be more expensive than Bitcoin but do people really not care about anything else besides price at this point?

As you are a Newbie, I would highly recommend you not to jump straight into the pumped coins if you're contemplating to. YFI may be $100k in a week or .. $1k. Volatility is a thing. You just don't know, and the timing is imo very risky right now. It's been a long time already since it's been very bullish. Coins that have really hard pumps usually have a period where the hype bursts out, and the price almost always follows. Therefore, just be careful when investing and make sure you don't get yourself screwed up by false hopes.

Nice explanation into this, it makes sense that we, investors/traders of bitcoins shouldn't worry about the altcoin's pump of price because it has only limited supply. Everything can change in a moment since this defi trend is definitely a bubble that will last for a short period of time and only a few people will get multiple profits if they play wisely.

I keep refreshing and YFI is growing, very unusual in my whole life of cryptocurrency. I hope this not give false hopes to those who get attracted when they see the value.

as of this moment, it is $33,181.44 already.

Despite the fact that the YFI token as a whole has risen slightly in price to $ 34,429 and has even moved to 23rd position in the CoinMarketCap table, its price drop is more than 14 percent. Of course, this still means little, however, such a high price and such a small volume of tokens issued lead to sad assumptions about an artificially inflated price. I wouldn't be surprised if after a while the price of YFI turns out to be much lower than the price of Bitcoin.