Why is ETN releasing between 6-10million coins per day in to circulation? Is it any wonder the price is thru the floor!

I’m curious -
Can i ask what the method to the madness is? ETN are releasing MILLIONS in to circulating supply each day. WHY! the price is at an all time low. Don’t tell me that people are mining millions per day. Even with the rumours that South Africans can mine 100 etn coins in seven days? Yet for the rest of us it is taking 2 months! - You owe us an explanation Mr Ells!
Circulating supply =
9,289,836,882 ETN wednesday 17/04
9,295,170,815 ETN thursday 18/04

Why are you releasing 6million coins a day on average??? The price is thru the floor already?? this does not make sense!

ETN is not releasing any coins at all. This is not the XRP model where they have all the coins stashed in a back room and releases a bundle on a schedule.

The coins are mined and the emissions are high early in the coin’s life by design, just like any other minable coin. It is not something that can be adjusted without a hard fork and a lot of hassel. That simply won’t happen, although it is always possible. They are busy doing actual business deals and implementations which will make it all worth it in the long run. When the demand comes in, the emissions will not be a problem. The emissions slows down with every block…so it will not be like this for long. There will come a day when people are complaining how expensive the coins are when thwre are millions of people using them.

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6-10million coins per day? yeh im gonna call BS on this one, no way we are mining that amount per day.

This looks to be a new account purely to fud. Reporting

it is a new account, but i been around since the ICO - and it aint fud - dont give a toss if u report, fact is fact.

Your “facts” are based on ignorance as none of it is true. Glad you don’t mind as this FUD post will probably be removed and your account banned. No one owes you a thing. These are not shares, THAT is a fact. If you don’t like it, sell. Bye Felicia.

Wait…is this Naga Bo?

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I’m just enjoying how experts dealing with the post

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bdb4e7df

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It’s not BS, “we’re” mining around 6M coins each Day, not many months ago we had 10M+ a Day.

Each block gave close to 12K coins back when insta pay beta released last year.
Currently the blocks are rewarding in the mid 7K.
Soon enough the block rewards will be too low instead for investors to net a easy position due to the scarcity of the block rewards

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It’s the mining rigs that release the coins from the blockchain, not the mobile miner, silly. Electroneum LTD have a separate supply of 7 billion etn in reserve for the mobile miner.

This is just a phase we have to go through. Take a look at moneros chart history and use that as a reference as to where etn is currently at and then think what does etn offer compared to them and then think long term, it should make you smile.

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7 billion that are already counted in circulation suply

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hahahahaha :smiley:
this made my day

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The 7b reserve coins are not counted in the circulating supply :+1:

There was about 5b released to ICO participants, 7b reserved for Mobile Miner. However the 7b only get added to the circulting supply in small increments as people using the MM get payouts.

So out of our 9.3b circulating supply (currently) 5b was ICO and the remaining 4.3b +/- is a combination of Actual blockchain Miners and people Mobile Mining. An approximate guess is 80% BC Miners and 20% MM’s.

Hope this helps.

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close to 8bln was pre mined, 4.656bln ICO&bounty

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As the user counts really starts to climb the second half of this year, people will be whining there should be more coins available. The users are coming. Something big is coming.

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experts in discourse…:wink:

If the price goes any lower, ill be selling my kidneys for more purchasing power :slight_smile: accepting ETN as payment btw

Lol, if you are referring to the professor title, that doesn’t necessarily mean expert. It means that person has met the criteria and respect of this forum to warrant the title. There is no expertise test you have to pass to become a professor. Although, professors do tend to know more than most simply due to how long they have been following the project…but we are people too and can be wrong. We don’t get any more information than anyone else. ;p

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Stop calling every criticism ‘fud’. The poster clearly doesnt know whats going on, but that doesnt mean he or she is fudding. Just explain to him and if he gets it great, if he doesnt, then he doesnt (and so what if he doesnt).

We become toxic by assuming criticism is fud when it isnt always the case.

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