Mining after kyc


#1

Not FUD genuine question. At the minute roughly 7 million new ETN are being minded a day. I’m guessing but i think the majority of those miners aren’t going to want to be bothered with kyc and will switch to another coin after 12th November. If we lose say 50% of the miners how will that affect the block chain ? And value ?


#2

I my eyes miners won’t need kyc as they will put their mined coins on the exchanges to sell .

As for the second half of the question I have no idea we shall see after the 12th hahaha. I’m sure someone will.be along with a brilliant answer to both of your questions.


#3

After ETN gets some success and more and more people are aware of it, they could switch back to an asic resistant algo, as I am sure the GPU miners are now a lot more than before and they will be even more after a few more months. Just watch the asic being banned and the gpu miners will come rushing in.


#4

I hope you are right I have a few GPU rigs but not mining ATM because not profitable. Didn’t mind with ETN as I believe the ones I have mined will grow in value


#5

I made my rigs especially for mining ETN. And a day after I turned them on, the ASICS came back, so I switched to Monero instead.


#6

Are making money on Monero are u mining for the bounce ?


#7

I make some profit, yes. But at this price point, of course you can’t make much, but I don’t care, because my main goal is to gather as many coins as possible. I mine ETH, XMR, TRTL, XTL, TUBE and many others.


#8

Thanks for info. To the moon


#9

Miners will use the Daemon & CLI wallet which does not require KYC, so as long as it remains profitable they will not leave.


#10

Exactly this!

Miners generally mine to a Wallet on an exchange so they are not affected by KYC.

As for ETN going back to ASIC Resistant i wouldn’t hold my breath. I would love it to happen but i just don’t see it.