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Post by stclair on Nov 3, 2017 1:33:04 GMT -6
Personally I sold the 830 I mined for ~$100 USD
Which is what my 13,000 IC coins cost me
Now to sit on the 13000 until its worth $10 each...
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Post by mrnewguy on Nov 3, 2017 3:27:23 GMT -6
Personally I sold the 830 I mined for ~$100 USD Which is what my 13,000 IC coins cost me Now to sit on the 13000 until its worth $10 each... Gj, I guess. If ETN goes to 2€ you ll regret having sold for 100$ only eheh |
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Post by smartins on Nov 3, 2017 9:39:44 GMT -6
Oh man, this is getting very interesting. I have mined nearly 2000 coins, if i sell all of them now i can get over $200 from 2 days mining, not bad eh  i wouldn't sell for any less than 3$ per coin  even if i have to wait 5 years At $3 per coin that would put it at a market cap of ~63 billion which is twice of Ethereum (and half of Bitcoin). Sorry to burst your bubble but that's not going to happen. I don't think it will even reach $1, if it would it would have a bigger market cap than Ethereum, which does not make any sense at all. |
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Post by mrnewguy on Nov 3, 2017 10:52:08 GMT -6
i wouldn't sell for any less than 3$ per coin even if i have to wait 5 years At $3 per coin that would put it at a market cap of ~63 billion which is twice of Ethereum (and half of Bitcoin). Sorry to burst your bubble but that's not going to happen. I don't think it will even reach $1, if it would it would have a bigger market cap than Ethereum, which does not make any sense at all. i mean, 3 or 5 years from now.... |
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Post by petesnewusername on Nov 3, 2017 13:04:28 GMT -6
i wouldn't sell for any less than 3$ per coin even if i have to wait 5 years At $3 per coin that would put it at a market cap of ~63 billion which is twice of Ethereum (and half of Bitcoin). Sorry to burst your bubble but that's not going to happen. I don't think it will even reach $1, if it would it would have a bigger market cap than Ethereum, which does not make any sense at all. The way I look at it, it's estimated that there are only 3 or 4 million people in the world with BTC, but there are tens of millions of kids with phones who are constantly fiddling around with them all day. When something on their phone tells them "Hi, here's some free money" most of them will start "mining". If they see their friends mining they will have to copy it because that is what kids do, just like they all copy each other growing beards just now and all copy each other saying "I was like" instead of "I said". Copycats. Unless they are stupid. Which they could well be. We just have to get the word out. |
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Post by needleandthread on Nov 3, 2017 14:35:38 GMT -6
Hi petesnewusername , could you please explain this to me? If the potential scenario is that there are tens of millions of kids "mining" for 'free' ETN, then why would the value of ETN increase? If there's so much 'free' ETN available, then what motivates people to pay for it on exchanges, and hence, what motivates the price to stay up rather than just fall due to all the ETN potentially flooding the market? I genuinely don't understand how this is supposed to work, even though as you can see from my presence here, i really, really want this to be a thing.... |
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Post by petesnewusername on Nov 3, 2017 15:15:57 GMT -6
Hi petesnewusername , could you please explain this to me? If the potential scenario is that there are tens of millions of kids "mining" for 'free' ETN, then why would the value of ETN increase? If there's so much 'free' ETN available, then what motivates people to pay for it on exchanges, and hence, what motivates the price to stay up rather than just fall due to all the ETN potentially flooding the market? I genuinely don't understand how this is supposed to work, even though as you can see from my presence here, i really, really want this to be a thing.... Well, I'm assuming that it won't all be dumped on exchanges, but will be used as a currency like BTC is starting to be more and more (and price is increasing partly because of that). In that scenario it doesn't flood the market. There's a lot of fiat currency around but people still seem to want more of it! That's a good question, why would people pay for it on exchanges. I would say that phone miners (as opposed to proper miners) won't actually get that much, not enough that they think it will make them rich and they'll never want any more of it. And a lot of people on exchanges are more sophisticated people, traders, speculators etc. They will still buy if they think the price will go up. If a lot of the mined coins are either being held or in use as currency then the amounts hitting the exchanges is reduced. If the average Joe has a few coins on his phone he probably won't bother to open an account on an exchange etc. But if he can buy something with them, or just hold them, or even completely forget they are there then in a way all those coins are "lost" to the market. This is what I hope for, it might not work out, or my logic may be faulty, but ultimately the supply is finite and the target market is HUGE! |
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Post by stclair on Nov 3, 2017 19:09:59 GMT -6
Personally I sold the 830 I mined for ~$100 USD Which is what my 13,000 IC coins cost me Now to sit on the 13000 until its worth $10 each... Gj, I guess. If ETN goes to 2€ you ll regret having sold for 100$ only eheh Thats a BIG if, also if it gets to 2 Euro, ill have 26,000 Euros, probably wont be too upset about missing out on an extra 1600 |
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Post by mrnewguy on Nov 3, 2017 19:52:56 GMT -6
Gj, I guess. If ETN goes to 2€ you ll regret having sold for 100$ only eheh Thats a BIG if, also if it gets to 2 Euro, ill have 26,000 Euros, probably wont be too upset about missing out on an extra 1600 that's the spirit lol |
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Post by needleandthread on Nov 4, 2017 3:20:01 GMT -6
Hi everyone, so I checked out the exchange and saw someone listing to sell over 170000 units of ETN! Is it even possible for someone to have mined that much?? How does this work?
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Post by ironwill on Nov 4, 2017 3:43:17 GMT -6
Hi everyone, so I checked out the exchange and saw someone listing to sell over 170000 units of ETN! Is it even possible for someone to have mined that much?? How does this work? Hrmmm... that is strange. Thats about 10,000 USD for all of it at current market. Don't quote me but they might be testing opening it up live. My Android app just tried to update, however it sent a verication code to my email that was not possible to input. something buggy there. Now the update isn't there 10 min later. That would coincide with the 170,000 etn being thrown out there. Like I said...don't quote me, I'm just making blind guesses |
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Post by sedin on Nov 4, 2017 4:29:34 GMT -6
Hi everyone, so I checked out the exchange and saw someone listing to sell over 170000 units of ETN! Is it even possible for someone to have mined that much?? How does this work? Hrmmm... that is strange. Thats about 10,000 USD for all of it at current market. Don't quote me but they might be testing opening it up live. My Android app just tried to update, however it sent a verication code to my email that was not possible to input. something buggy there. Now the update isn't there 10 min later. That would coincide with the 170,000 etn being thrown out there. Like I said...don't quote me, I'm just making blind guesses It sure is possible to have mine that amount. You underestimate the rig of certain people. Moreover, he could have buy some on the market? |
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Post by psych0hans on Nov 4, 2017 4:31:37 GMT -6
If someone has a mining farm, then 170k ETN shouldn't be too far fetched. It's all in the hash power...
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Post by needleandthread on Nov 4, 2017 4:40:47 GMT -6
Wow. As someone who's struggled to mine even 200 ETN that number seems incredible to me! I don't know about having bought on the market tho. With prices falling at the moment, if they're selling what they bought, then they'd most likely be making a loss.. |
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Post by petesnewusername on Nov 4, 2017 5:03:22 GMT -6
I thought there were safeguards to keep big mining farms out?
How do you see an individual sell order (as opposed to a conglomeration of orders all at the same price)?
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even if i have to wait 5 years
