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chang⁶⁹⁰⁰
@fangiskhan
creator of @user_lumi
307 Following    1.5K Followers
I think posting metrics is basically the same as posting lewd art, minus the religious and moral side of it. We have the "no chart" rule so people hold SPX no matter what the numbers show, and I'm not only talking about price. If your reason for holding SPX is that 90% of the supply is being held, would you stop holding if that number fell to 80%, 70%, or even 60%? What's the point of posting these metrics? A lot of you will say it's to show people how amazing SPX is, but all it really says is that most of us have held for more than 90 days. If you market SPX as "buy it because more than 88% of holders have held for over 90 days," what will new buyers think when that number suddenly drops? Say there's news about a security issue with Phantom wallet, and people move their coins to cold wallets to be safe. The diamond hand metric could drop from 88% to 42% overnight. Would you really care? No, for the same reason we don't care about price dips: we know it'll bounce back, and the metric would recover too. But the people you told to buy SPX because of that metric could panic and sell. You taught them to buy because of the metric, so when it falls, of course they lose conviction. "Well, that's not true. I look at the metrics and they don't affect me." I'm not talking about you. Move on. I think people are using the diamond hand metric as a loophole around the no-chart rule, and we need to keep metrics out. If we let people use loopholes like this, what do we say to the next person who breaks a rule? Every exception makes the SPX commandments weaker.
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