Apologies in advance for what I think is probably a stupid question but there's something I don't quite understand. I have tried to look on the website/read through here but I can't find an answer so Im probably just not understanding it properly.
There's 4268 genesis addresses, each generating new MNE every day (~8000 a day) until eventually we hit 136,576,000 MNE. Is it just people with the genesis addresses who are generating these new MNE, or does everyone holding some MNE generate new ones?
If the former, then I can't understand why I would buy MNE when the total supply is going to increase from 400k today to 136m (albeit over a long time period). With the price at ~$10, say I bought 50 MNE today, surely that is going to be eroded massively even by this time next year when we will have gone from around 400,000 today to 3.3m? But if the latter then I can't understand why people are buying genesis addresses.
It is just the genesis addresses that are generating MNE.
MNE will be burned in the token creation process and even with the supply increasing, it is at a much lower rate than other crypto's such as ETH.
People are buying genesis addresses in the hopes that the coin continues to rise. It's a risky bet though, as the buyer can't change the wallet key. If the seller is dishonest and decides to, they can always re-access the account.