Breaking Down Why VTHO Is Important For (VET)
The one common denominator is all of my investments outside of Hive is they are all service related having an every day use case. This has not happened by accident as I do think the future relies in tokens that offer services to multiple projects.
VET or VEChain is one of my investments that I am continuously researching as I do think it will jump out the pack shocking many what they have to offer. The price will only start to climb in value once the VTHO (gas fees) are in short supply. This is the reason behind investing in VET as each token generates a percentage of VTHO which is used to pay for the transactions on the VEChain.
VTHO is generated by holding the VET token. There is a fixed number of 87 billion VET tokens which generate VTHO daily at a rate of 0.000432 per VET token. This results in a fixed number of 37,584,000 VTHO tokens generated daily.”
37 million 500 thousand is the key number to pay attention to as once that number is being used and more is required the VET price is going to sky rocket. Companies are going to have to hold VET to create VTHO in order to pay for transactions on the blockchain. Things are easy now as the prices are cheap but they will not be so fortunate in the future unless they have massive stake.
This graph depicts only one account that being of Walmart China burning the VTHO in order to process their orders. The growth is fairly obvious which should be expected as this is the busy time of the year for retailers. I don't have the figures as a percentage to the growth compared against last year, but it looks more than 20% just for October, November and December thus far with 3 weeks of the month remaining.
One gets a good idea of how much more adoption is required as looking by these figures VET would need 150 more companies the size of Walamrt in order to burn the daily VTHO being generated.
If we take the current price of VTHO and multiply by the daily VTHO supply we end up with a figure of $39 500 which is still a long way off from what is currently being burned.
$75 dollars worth of VTHO burned so far today is kind of depressing and at the same time is pretty cool as this is the real case of every day use being shown. We are still so early being in Crypto and this highlights how early as adoption has to still take place.
This for myself is another 5 years of building and growing stake waiting for the companies to get involved. We know AWS is using VEChain for the carbon emission services they have started so this may not need 5 years and could be way less. This is still investing in a project whilst it is still on the ground floor and I do think it will be a crypto project that not only succeeds, but does extremely well.
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VET, VTHO are strong projects too, earlier investors can get good return on investment in long term! DYOR!
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Thanks for the info. I haven't heard of this token before besides what you have written about here. It will be interesting to see what happens to it as time passes. I wonder if companies will just find a different chain to use if the prices get too high.
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I don't think so as the companies they have on their books are seriously big names. I can see Amazon using them as well due to AWS being involved already. As a blockchain designed for the supply chain they will remain as they just need to invest in VET to receive free VTHO. I do expect over the next 5 years VET will be in huge demand as companies will be buying big numbers. If you invest buying enough VET then you could use the blockchain for free.
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Is there an unlimited supply of VTHO? It seems like that would run out at some point. Still interesting enough that I am looking for places to buy it (VET).
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VTHO can only generate 37.5 million per day which is not that much if you had to throw in all the companies and governments requiring VTHO to work on the VEChain. VECarbon is going to play a major factor in VTHO use cases besides supply chain. 30 out of the top Fortune 500 companies are already signed up with VET.
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Okay, good to know.
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I think this coin supply is too much. It's not mean this coin will not pump but bull is compulsory to pump this type huge supply coins. I have invest many dollars in slp (Smooth love potion). It's supply is almost 40 billion. I am waiting for bull market.
Lol. You have invested into Smooth Love Potion? There is one big difference here and that is use case and why within 5 years you will hear about VET and VTHO and most likely not SLP. I am hoping you are joking and not being serious?
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Yeah I invest in slp because slp is axie infinity game reward token. Axie infinity still number 1 play to earn game and it's land game play is coming in December and both tokens slp and axs pump hard. It's my personal opinion. Recently axie infinity introduce crafting this is good use case for slp. Hopefully slp pump soon.
Ok had no clue what it was and that makes far more sense.
Do you keep your VTHO or convert them to VET?
For now I am keeping them as the price will rise significantly in the future when there is a shortage due to demand. I just need more Vvet as the target of 100K is where I want to be once I have my Coti target done.
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I appreciate your opinion a lot! Can you tell me yout opinion about CKB (NERVOS)? Without wanting to take advantage of your time or your knowledge!
Never heard of it so will let you know. Do you stake it? Price looks a decent buy considering where the ATH was and just need to read up on what it actually does and it's real use case. Give me a few days and will know a lot more and maybe a great investment. Do you have any others you are keeping quiet about lol?
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I have my last 1000 euros to invest in this bear market, and i was between coti, vet and ckb! I choose the last one, just to spread my assets! If i have get the purpose behind this project, they try to be the bridge between all the different blockchain networks. For sure in the future, we will have Ethereum, cardano and many others! CKB is my secret gambling wish
Understand but don't rush in as you need to be sure first. I understand from having a quick read now what they do, but need to go a little deeper. Will know more by the weekend as the tokenomics is important having such a high supply of 33 billion with 1.5 billion being released each year.
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