Event
So B3 developers decided to do a soft fork few days back.
Which introduced new unit for B3 coin i.e. kB3
Simply put:
what killoGram is to gram, same killoB3 is to B3
Which means 1000B3 = 1kB3, Great!
Reason
To reduce the coin supply and enhance the coin value.
B3's staking reward were 10,000% from 60,001Block - 80,000Block, which increased the total coins in circulation a lot and so was stuck 1 satoshi for a while.
Ok, but what about the B3 coins I am #HODLing
kB3 is just the unit of representation like killogram for grams, under the hood its same old B3 coin.
kB3, as proposed, will be used for macro payments. While for micro payments, B3 will be used.
Any action from my side?
Exchanges will/are de-listing B3 and introducing new kB3 asset. Make sure to send your B3 to your new kB3 address. You will get B3/1000 amount of kB3. e.g 250,000 B3 coins will get you 250 kB3.
But if you have your coins in your desktop wallet, need not to worry, as its just a unit of representation and its same B3 under the hood. You can change the unit of display in your wallet settings.
oh great! Wait my B3 capital/value is decreased *freaking-out*
Oh boy! That's where I decided to write this post.
This was expected! (Maths you know)
If Chuck has bought 1b3 at 1 sat. He'll be sure that it will be 1 sat after a week, month or year bec it cannot go down from there.
But....
Now this kB3 blunder soft fork
1kb3 = 1000b3 = 1000 satoshis
i.e.
1kB3 = 1000 satoshis
It can and has gone down.....
Degrading the value of B3 in bulk of kilos #LOL
Opportunity
Lets talk business, earlier if you were to buy 1000 B3, it would have costed 1000 satoshis.
But now(01-24-2018), as 1kB3 is around 330 satoshis, which means you are getting 1000 B3 at the price 330 satoshis *66% Off - End of Season Sale*
Note: 1kB3 is quite stable around 330 satoshis for last couple of days....
Conclusion
I feel devs are applying tech to non tech investors(beginners)......
Investors only see red line(candles) going down from 1000 sats to 400 sats.....
But as the declining charts attracts market moving investors(BigWhales)... Investing more n more as price drops....
The FUD'ed ones will invest again.....
And kB3 will rise from the ashes.... That's how market rolls....
Let the burning ashes be chilled out and till then wait and sit next to ashes and enjoy the warmth.....
I would say.... It's shopping time....
Thanks!
