I think in the future your TA of ETN will get ruined by the mobile carriers dumping and we will all be scrambling to figure out which carrier is selling on which exchange on what fiat trading pair on what days of the month.
But it shouldn’t be that bad because all of their customers will be mobile mining and a portion of them will decide to become investors and a portion of them will decide to use it as money seeing more and more merchants accepting it and its speed and ease of use and a portion still will decide to buy some to send it to their families back home as it’s way cheaper than Western Union so all of that will bring volume buying power that will happen before the first sell off occurs.
I think any TA on ETN you do right now will be inaccurate because there are cheaters extracting BTC value from the ETN blockchain until this recent BTC crash.
China cheats in every category of trade. This is not my opinion, this is objective fact. Search any category of trade cheating (counterfeiting, pirating, technology theft, etc.) on any search engine not in that country and China will be at the top of the list. If you leave any opening to cheat or steal they will find it and exploit it and that is exactly what is happening right now to our blockchain. https://blockexplorer.electroneum.com/
F2pool is mining empty blocks - not even processing their own miner payouts. The evidence has been pretty strong.
Poolin is mining blocks with only 10 transactions in it. The evidence has been pretty strong for that one too.
So you have to think like a cheater/criminal. How many months have they been doing this on our blockchain? Quite a few. Where are their pool members located? They are going to be in Asia mostly. What exchanges are they going to dump their ETN on? The Asian exchanges - bitalong, coinbene, kucoin, liquid maybe even Cryptopia even though it is in New Zealand. Which one do they prefer? I’m guessing it’ll be the one with the highest price that they can get with the most volume with the least amount of KYC. The poolin and F2pool owners and operators are probably the “Dark whales” you guys kept talking about on the previous fight the dump club thread.
The ETN price spread was larger a few weeks ago between the top [by volume] exchanges before the Bitcoin crash that just happened. They were simply buying millions of ETN on one exchange and selling it on the other for BTC and sending it back to the first exchange and buying millions more doing this over and over again and always trying to push the price down using their mined ETN coins which they have accumulated a lot of being that they’ve been doing this for months now or the scheme could be something along these lines but similar involving another coin. But now there is a BTC crash so I think when it started crashing they cashed out to another fiat or stablecoin on some other exchange. I don’t know which one but if I could read Chinese I’d find the F2pool and poolin telegram or forum or whatever they use to communicate to each other and see what their scheme is. I mean miners are like a school of fish right? You scare them and they all swim in the same direction.
You don’t get as big as F2pool without the government giving you the OK. That’s just the way things are over there. https://www.nytimes.com/interactive/2018/11/18/world/asia/china-internet.html
So the chances that they are being used by the state as a tool is extremely high, the same thing with Bitmain.
If I had to guess I’d say F2pool and poolin operators and owners are in collusion with the authorities there to keep ETN price down because they don’t want a foreign controlled crypto becoming mass adopted and at the same time those people get to make a ton of cash and grease the palms of the authorities. They probably got “raided” (wink wink) in the recent mining pool crackdown and had to shutdown for a short time to make it look good and that’s why we saw them disappear from here https://miningpoolstats.stream/electroneum for a short time.