In App what does active miners mean


#1

Does it mean all app miners or all ASIC miners or both ?

Do you know are the ETN “mined” by the app included in the circulation ?

If so surely when the IOS cloud mining goes live potentially the circulation and therefore market cap will rocket.

Discuss


#2


#3

Just tha APP miners.


#4

Do you know are the ETN “mined” by the app included in the circulation ?

If so surely when the IOS cloud mining goes live potentially the circulation and therefore market cap will rocket.

Discuss


#5

Unintentionally posted in error here :weary:


#6

Not the case.

Coins being both mined by POW Miners and the Airdropped Coins via the Mobile Miner are calculated in the total Circulating supply and this Increases every hour of every Day. The Marketcap of ETN is Calculated very simply by Circulating Current Supply multiplied by the current price. So, yes as more coins are released via the 2 methods of mining the Market cap will/does Increase even if the current price stays absolutely stable.

There was 12.6 Billion Coins Pre-mined in the first 2 blocks in the BlockChain and this was approx half for ICO Investors and half for Mobile Miner payouts. Now in Theory (never going to happen) if 1 Billion coins got issued tomorrow in Mobile Miner payouts our Circulating supply would go up by 1B coins and the Marketcap would be $163m putting us in 48th place on CMC . Currently our Circulating supply is 8,237,712,231 ETN, and the price right now is $0.017750 USD multiplying this amount takes us to our Current Market Cap of $146,216,536 USD, but increasing supply absolutely increases Marketcap. Coins don’t need to hit an Exchange for these to be counted.


#7

They are Included in the Circulation as far as the Coins mined “So far” but the rest of the Coins that were Pre-mined are sitting in the custody of Lawyers and they release them to Electroneum Ltd in batches when the piggy bank used for MM payouts is running dry. When these coins are released they add to the Circulating Supply, but what is in the hands of the Lawyers (and its Billions of ETN) are not currently Counted… YET.


#8

I understood the premined coins would be considered part of the distributed supply “…which is almost always higher than the circulating supply, as it includes the company’s share of coins, extra coins from mining, and other coins not released into the supply.” (https://tinyurl.com/y7jdgf6f)

I intended my xcoin example to indicate just creating the coins does not increase the coins market cap.

I also believed there was constant mining balancing so the supply (creation) didn’t suddenly spike in an undesired or unsustainable manner and assumed that this concept would be artificially mirrored in the mobile miner, lest we run out sooner than anticipated in the event of unprecidented mobile miner uptake.


#9

It’s a fair assumption, and one that the majority of people would probably guess to be the case. But it’s not how it works.
The Circulating supply after ICO (1 year ago) was 5 Billion (ish) but the pre-mine was 12.6 Billion. It’s also worth noting that the 5 Billion coins were almost all ICO Coins and the remainder were Kept back for the MM. So those coins have not been added to the Circulating Supply, and wont be untill they are released by ETN via the Lawyers.

Hope this makes sense.