Too many coins being mined and dumped!

#1

When will Electroneum reduce the asic mining emissions? This is causing far too many coins to be mined and dumped onto the exchanges.

Supply is increasing by 3-4 million coins per day. Something needs to be done about this and fast.

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ETN Fomo Moonwalk Club
#2

Yes, increase in mining level

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#3

Don’t complain, just buy them. :wink:

They ain’t gunna be dumped forever.

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#4

Yes I just purchased another bag full.

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#5

The more supply gets out there the better imo for right now. :slight_smile: Price will come when ready.

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#6

Wish I could bag more, I had to put a hold on my regular top ups, with rw stuff going on. :frowning:

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#7

This thread posted below has good information imo and links with data that is somewhat relatable to Etn. It’s just a matter of time it is constantly less and less.

:arrow_down::arrow_down::arrow_down::arrow_down::arrow_down::arrow_down:

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#8

Is it not possible to just slightly reduce ASIC mining return and on the same hand increase for actual people using ETN has top ups on the Unlimited network and other networks when they come on board.

Giving the people mining and dumping a slightly lower return now but a actually rewarding those who use it everyday more which should gradually lead to price increase over time as more and more people see the incentive of using ETN in daily lives in daily transactions.

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#9

Thank you this is a really useful thread. Looks like block Reward theoretically should reduce by half each year according what has been suggested. That’s equivalent of bitcoin halving happening each year instead of every 4 years. It will be interested to get back to that thread in June and see if the halving did indeed happen.

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#10

No problem I’m still trying to understand better myself, it will definitely be interesting to keep an eye on :zap:

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#11

The ecosystem model is structured at up to 3usd a month mobile mining and imo it should stay that. They could reduce block reward for asic but it is constantly being reduced. (See thread I’ll post below)

They need asic miners mining the blockchain so it needs to be profitable for the miners to want to mine it. Yes there is a portion of miners who sell to pay for costs/profit. Even at current block rewards at current price it does not take much volume to offset asic mining dumps, daily payout is under 5.9m or around 40kusd. As time goes on more users and more volume/liquidity will help this alongside of block reward reductions by emission curve. Use of Etn will also help. But it is mainly users, user numbers solves it along side with use of Etn. Time is in favor and Electroneum is well on its journey.

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#12

That is why there is low volume with this coin. Constant downward pressure from Asics dumping.Traders/investers know this…
Will take take about a year or 2 before things balance out…

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#13

then we dont have no option but to wait for 2yrs Cheers

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