Uncovering the truth


#1

This is mostly the same thing I wrote in the “Fight The ETN Dump Club Round 2!” thread but I felt this will just get lost forever in there since there are so many people talking in that thread. In contrary to how my post ended over there, here I will also try to get in to the specifics.

I might get some bad reputation saying this here but I think I need to nonetheless.
I see a lot of people talking about black whales and other mystical creatures such as malicius trading bots. Please try to remember that they are fundamentally just people trying to cash out for a reason x. If there are more sellers then the price will come down. If there are more buyers the price will go up. Now who do I think are the sellers then? Miners. Chinese miners that do not know the value of the coin and are just trying to get their ROI on their ASIC investments. There are 7 million ETN coins mined everyday. Once we have constant need for 14million+ coins daily in the developing countries the price will start to climb since the miners dumbing is not relevant any longer. Untill then it is up to us investors to buy those 7mil ETN per day to keep up the price :v:

Where did I get the 7million coins mined everyday? 2min blocktime with around 10k block reward. If you like more numbers, check out my other post “Electroneum economics”.
Now are there other aspects influencing the price other than miners and investors? Definitely yes, ICO investors, people biting in to the fear uncertainty and doubt, people who invested too much and need to get fiat. And on the other side: people that are just learning about ETN, people “FOMOing” in on the news, people telling about ETN to their friends and ultimately the people in the developing countries adopting ETN as part of their life.
So do I believe there are bot’s doing some work to lower the price? Probably yes, but I would like to believe they are just the miners trying to get everything they can out of the coins they have mined. Also arbitrage bots are higly likely to be part of the market.

That is all from me for now. But I would like to discuss more in the comments if I left some stones unturned :blush:


Fight The ETN Dump Club Round 2!
Fight The ETN Dump Club Round 2!
#3

Mmm facts ouch ! :rofl:


#5

For that to happen do we just need people to buy more than 7 million ETN coins every day ? :wink:


#6

2


#7

I am so sorry. Can you forward me to a place where this kind of talk is respected? :joy:


#9

So more than approx $140,000 USD of net buying per day for ETN to go up in price ?


#10

Telegram price chat :joy:


#11

The reason why I chose 14mil+ demand, is that you need more demand than the miners mine. Since there is probably some pent up sell pressure from people that just want to sell when the price gets just a little bit higher.


#14

Ok $140,000 to $280,000 worth of ETN to be bought every day NET = Price going up !


#15

Cool good to know as sometimes acronyms get used a lot but a lot of newbies won’t understand their meaning.

Thanks for quick reply!!


#16

Its only 4 to 8 million dollars a month of buying power


#18

You forgot 2 zeroes from those numbers but in my opinion that is basicly how it goes. But That should not be confused with market volume since there is so much wash trading going on to for different reasons. That is what we need the true demand to be to achieve price accumulation.


#20

Yes hence me saying NET buying.


#22

7,000,000 coins per day x 0.02 USD = $140,000


#23

Ahh, so sorry. My bad! I was thinking numbers in ETN and not in USD :sweat: Makes you think just how little demand we actually need to get the price going up :astonished:


#26

First of All, thanks for opening this thread. Its headline smells a little bit “fuddy”:slight_smile: , but i’m looking forward to good discussions and critical thoughts. Cause imo this is very important to come to right conclusions and decisions, leading in the end to less fud.
As you already said in another thread, some people think every thoughts sounding critical are fud, that is definitely not healthy,not for the community and not for the coin.


#28

Thank you for your kind words! And yeah, the journalist in me wanted to make the headline something that would bring out emotions. My goal was to get people to read my post and after reading it get positively surprised by its contents :blush:


#29

You could also watch the total supply going up. From the start of this forum, around 250m coins have been added to the supply/mined.


#35

Are there anyone with the rights to remove posts?
I would like to remove all the back and forth that is not relevant to the topic in this thread. Including my own posts that do not contribute to the main topic.

Please @ people to this thread that have such rights. If possible I would like to get such rights for myself in this thread since I created it and would like to police its contents*.

*Of course not to sensor anyone that has different opinion than my own, but to make this thread more clear to read without posts that are not relevant to the main topic
@Rachel , Sorry Rachel you were the only one I could think of :pensive:
@MSystem , Do you have such privileges?


#36

So this is not a thread on which we can talk FUD?