If you play dCity and you and your citizens aren't living under a giant rock, you may have noticed that things aren't going very well economically in the dCity world. The price has been gradually dropping from the pegged price of 0.005 SWAP.HIVE to about 0.0016. All while the taxes have been increasing, even reaching over 101.5 % for one day, I don't even know how that would work. Would I have to pay the government money I don't have? Luckily we didn't have to find out because the tax exempts generated by my law firm.
The main reason for this is most likely because more people are selling their SIM instead of buying. But why would that be why is there no balance. Some say it's a lack of staking and they might have a point. To start of there is no real incentive to keep your SIM. Well, maybe the recent reward that has been introduced for holding SIM, but that is not enough in my opinion. Staking would pose an interesting take on the various of ways the token could be used, adding to the utility, which could make more people keep and stake their SIM instead of selling.
If we look at crypto in general bears and bulls are not uncommon. This may just be a cause of FUD and people reacting in panic. Another possible reason for people selling or pulling out is that there is no clear roadmap or timeline on new developments in the game. It's been a while back since a 3rd edition was announced and citizens are getting restless. To me it's not logical to sell things in loss, so what I'm doing is doubling down and just reinvesting my SIM earnings for now. If it goes to hell, it goes to hell. In the crypto world you will sometimes lose, but only the bold and fearless have the chance of winning. So depending on how you look at it, this is the perfect time to buy up cheap SIM and boost your future metropolis.
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