What do you think is the lowest etn will be able to go before miners are forced to swap to a different coin to make a profit?


I mean let’s be a realistic it does cost money in the form of electricity to mine electroneum.

When I try to mine electroneum on my computer at home it cost me more money in electricity then just buying electroneum.

At the moment I believe Asic miners are the only one making money off of Mining electroneum and selling it.

But when the price goes lower they will eventually have the same problem as me, it will cost more in the form of electricity vs buying it so they’ll be forced to swap in mine in different coin. I wonder how low that price is. Any thoughts?

Nobody is ever going to “Switch” coin.

Now the Network is 100% ASIC Miners this is an Extremely unlikely Scenario.

ASIC Machines cannot switch Coins! They can only mine the Algorithm which they have been built to mine.

So just to be clear your willing to mine etn even if it reaches $0.001 usd or god forbid $0.0001?

But that’s the problem right there you won’t be able to purchase ETN if no one’s mining the blockchain because in this scenario it won’t be profitable.

Also on a side note thank you for contributing so much in the form of mining to this project(50 asic is impressive, i have 0). I tried mining on my home computer and it’s not profitable so that’s why I just purchase it it’s more cost-effective for me.

what country are you in how much is it per KW, are you using antminer x3 or baikal?

11cents per kw/h not too bad, N.S.W. Australia electricity averages 33cents Kw/h (aussie $) it’s crazy mate we’re shipping a lot of our coal to China in fact so many of our resources are going to China and so many shit low quality imported goods are coming from there Australia is getting so rekt by China, no offence mate but I hope bitmain get so rekt!

I’m with M-Kid on this, I’ll keep mining even if the price drops and be rewarded more coins if others drop. In for the long run! I’m at 0,07$ Kwh here in Quebec :slight_smile:

how do we know your legit you say you own 50 asic miners but I see in other posts you say that you have purchased ETN, when Kyc is fully implemented and lockout date comes you’ll have trouble moving large quantities of ETN

Because if that ever happened, Richard and Team would turn on their ASIC miners and keep the network afloat. (if they aren’t already mining).

They are on Cryptonight algo, which includes several other coins except ETN.

Locked out meaning you have to complete certain levels of Kyc to withdraw or transfer certain amounts of ETN by October not sure of the exact date, now there’s no limitations until Kyc is in full effect

ETN uses cryptonight algorithm

Yes, I know, of course. I wanted to say ‘‘besides’’, I was a bit in a hurry then and miswrote. :smiley:

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