Miners dumping is only part of the reason why ETN is crashing. But, yeah. If ETN team can’t coordinate with ASIC miners, then they should consider changing protocol to a type of POS/masternode system instead of waiting for block rewards to go down. We can’t continue using POW which just continues to hammer true believers of the coin. We need a system that rewards investors and I think a POS actually works better in a bear market than POW price-wise.
We have to cut the mining reward by 50%
When ETN will have its reward halving??
Reward goes down every block by a little. Look at this thread and see the dates and reward. You can calculate when there will be half from today. A year from now I think.
Just find it here ETN halfs every year
My spreadsheet is still holding up 2 months in. There is less than 40 ETN per block reward difference based on my prediction for today’s reward and the actual latest block on electroneum101.
Assuming all still goes as planned, we’ll be mining less than 5m per day at the end of the first week of July. This will equate to approximately £20,000 of new coins per day at the current price of ~£0.004
What does your sheet say for 1 year from today?
Approximately 4300 per block and about 3.1m per day
Less than 5,289,818.4 Etn in block rewards today
Thank you for these updates much appreciated…
The emissions are still holding pretty true to my spreadsheet
Should be another 4-5 weeks before we drop below the 5m per day mark. It doesn’t seem that long ago we were talking about 6m and 7m per day being mined.
We should also be below 4m a day before Christmas assuming no changes to the emission rate with the forthcoming blockchain update
I try to do it every week I’m a few days late because life has been so busy, but thank you I appreciate it, in the future I think it will be really cool to look back and say “remember when”
The way the emission works and ASIC wants to make a profit just like any other mined coin the price naturally rises due to cost to mine and rewards.
Or they shut down mines due to unprofitability and blockchain breaks.
This is making ETN very precious indeed. It’s so much smaller than before