With the recent price moves of BTC and other cryptocurrencies, ETN should really consider changing its protocol to a POS/masternode type of system. Look at what’s happening to Tether and how all the money is going through purchasing BTC and how it affects the prices of altcoins. When BTC retraces, it will take a lot of altcoins with it. If Tether collapses and altcoins start to recover, exchanges would just release their own “stablecoin.” The cycle would just repeat and altcoins would just get plummeted. Changing to POS would serve to keep investors INTERESTED and MOTIVATED as they would earn interest from hodling, and it would alleviate some of the selling pressure from mining farms. Also, ETN would benefit changing its protocol because they could receive some of the interest from investors staking. Again, I am not saying that changing to POS would make the blockchain more efficient or secure but a way to stabilize prices and to anger less investors. People really need to consider what’s happening to the cryptocurrency space in general and NOT just what’s happening with ETN even though it’s a life-changing project.
Edit: It would also change the distribution of coins from miners to investors/believers who actually hodl. If you want VIRAL growth, then the price NEEDS to be in an uptrend. It won’t happen if miners, exchanges and day traders are shorting the hell out of ETN and morale from investors are at an all-time low. ASIC mining ETN is not sustainable in the long run. During bear markets, large mining farms will definitely liquidate their holding which will crash the price as they are one of the biggest bag holders. And, waiting for the block-rewards to go down will just take too long (it will cut in half a YEAR from now), and I don’t believe that it will have an immediate effect. We need a system that rewards investors for hodling to keep morale high, to lock coins and to last through a bear market.
Totally agree - Proof of stake is the way to go. I have been a huge fan of the ARK project - super fast coin, amazing technology and free coins in a controlled inflation. I doubt they could ever change it now though but I talked about this in the past but it was probably too late at that time as well. As well you have the massively reduced power consumption which is good for the environment. If you want to see the difference in speed just load up the ark wallet and buy a few ark and send and see how quick it is .
I know that it would be difficult and time consuming to implement, but I don’t see why it would be too late. Until exchanges become regulated, we will continue this vicious cycle. Self-regulation is not something that I truly believe in…
if they change to pos, etn, the company, will have indefinite amount of coins for the mobile miner as they control billions of coins. i prefer etn to go POS.
if they make masternodes a lot of hodlers will be involved in it i am sure, including me
but I think we don’t need to lose time on it because our pow works normally and we would rather to make our coin mass adopted after that next step can be that
I dont think they will change this for us…maybe they have something that big so the supply will be eaten easily…lets give them time to put this ecosystem in place and lets then talk later about numbers.
I dont point on news…maybe a big partnership where we could gain lots of new users…dont know…have patience…I know it hurts to look at price, but I do belive in this project and wont sell…many useless crap coins are doing great, makes no sense why ETN would not…we need to wait a bit more
ETN is right where it needs to be to begin mass onboarding. Remember, they are actually building a real-world ecosystem that is designed to encourage use and acceptance on its own, not the “investment value” but an actual use value. They want the coin to rise in value naturally with the real world market and it will as a POW coin. They don’t want giant swings in value which they appear to have achieved. Also, Everyone is so bizarrely attached to this 51% attack which is really a limited scope hack that can’t go very far, I think many don’t even understand what a 51% attack can and cannot do, let alone the logistics of actually operating and maintaining it. Not to mention the cloud capabilities and scaling available to prevent one.
Ok, as for miners, the block rewards drop gradually which will slowly increase the value over time, as the marketplace grows and needs for supply increases the influence of miners and day traders will drop away and have little effect. The “cloud mining” airdrops (which I consider the mobile equivalent of a faucet) will adjust to the value of the time and will eventually end once a large enough self sustaining ecosystem it reached. We really aren’t even at the true point of product release. We are early investors in a company still in a accelerator. Once the product is finished and released the entire dynamic will change.
Yeah, the gradual reduction of block rewards would help increase the value over time. But, like I said, how much and when will the block rewards reduce to see its effects on price? I understand the ecosystem… but we need 10s of millions or 100s of millions of users. We won’t get that any time soon because sentiment regarding the cryptocurrency space is bad… People fail to consider how the cryptocurrency space in general is affecting the growth AND price of ETN.
The cryptocurrency space is less that 1% of the population-in first world countries, shouldn’t be concerned about what a few rich kids and the other relatively “naive” FOMO’s think. There was a much better more developed and educated community that wrote off amazon in its infancy among other breakout companies. They are NOT selling this to the people in the space, they are selling this to people with little knowledge of the current space. With a long term slow consistent increase in value over time will do much more in legitimizing and increase on-boarding than short term spikes.
if the price of ETN did not drop at this rate, this topic does not exist ,
in short say, you want to see what satisfy for your eyes, and that is the price to rise!
this is not about what algorithm ETN is using,
the same sht will happen even if ETN start in POS or what so ever ,
What!?! I don’t even know what you’re trying to say… or what you are implying… Yeah, we may see the same price decrease while changing to POS, but we get REWARDED for hodling… I (and I’m sure a lot of people) will be MOTIVATED to hodl…
Edit: Man… I think I rather have posted this on Reddit… I prefer to deal with the “ETN is ded” comments…
