I totally agreed with this one year ago. But now that were a year further down the road, i think i would just prefer to get it over with.
There is no doubt that the newly minted coins are creating a lot of downward pressure. This is exacerbated by the low amount of buying pressure so the end result is lowering the price. Throw into that equation that the unlimited deal will have them having setup an API to automatically exchange the ETN into a FIAT of their choosing and an even bigger impact is felt.
If the unlimited were to market ETN to their current users, or if they were to do what was announced falsely (double data etc by using etn) that would instantly fix the issue. But i dont think that was ever part of the plan but i stand ready to be corrected
We need more people buying to restore the balance, with cryptopia being down, and people waiting on the sidelines watching what bitcoin is going to do next amongst other variable factors… the demand just isnt there right now.
As the BC reward reduces gradually over the next couple of years we will see a better balance, even if demand just stays the same (although i believe it will increase) im sort of looking at it in the scense of - right now ETN is on sale, and it wont be as the BC reward is reduced. If we/you/me can ignore current price then we will see the next year or so as our 1 oppertunity to grab as much ETN as we can in knowing that in future such large amounts will be impossible to come by without selling your house.
In 1yr the BC Reward has fell from 12,000 over 2 mins, to 8300 over 2 mins… now that is over with id rather it kept crashing as low as possible instead of an algorithm change that prolonged the process. Just my own opinion edit. Some typos