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 ~$10, say I bought 50 MNE today, surely that is going to be eroded massively even by this time next year when we will have gone from around 400,000 today to 3.3m? But if the latter then I can't understand why people are buying genesis addresses.
Yes, it's my first post, we got that one out of the way. I have the same concern's as you. I have read most of the 130+ pages of this thread. Somewhere someone stated, that exchanges look for active community coins to enlist them on their market. That same person said that 130+ pages of this thread is strong evidence of active community. While reading, all i saw is question after question 'When will exchanges accept Minereum?' and 'What will the price be?'.
I think that more than one third of all posts are those questions. And i think, that people asking those questions are owners of (one or multiple) genesis addresses. If you look at current MNE price, and if you own 10 genesis addresses, you get ~100$ per day. Of course that they want to see price go sky high. For strong active community, i wouldn't bet a lot. MNE needs strong practical usage to be long term profitable. As you stated, next year we will have 3.3M tokens. And your 500$ today may be worth 50 in 12 months.
Don't take me wrong, i just give you my look on everything. Truth is that i am also looking to buy some MNE but not for long term. Current hype and waiting to get on another exchange gives me hope for quick increase of my investment. If i offended anyone, that wasn't my intention.
Take care!
I own no genesis address. I believe in the project. I think the community is stronger than you think and you seem to be ignoring the Telegram channels. I also think you are undervaluing the power of money which is one thing all the genesis owners have in common. They are either going to make a lot of money from their addresses, or they are going to make nothing from them. It is in their best interest to make sure the project succeeds.
As you state, that means there needs to be a practical usage of the token. So far everything the developer has promised has come to fruition. The genesis holders have no reason to doubt him/her now. But if the developer doesn't follow-through, then they have reason to organize and mobilize. I believe this project will be success long-term regardless if the developer creates services or if the genesis address holders do.
Lastly, it has been less than 2 months since the developer made his/her first post. It is far too soon to be saying there is no hope for the project long-term. Especially when everything in the project's history has signaled a different future story. When the token-creation service is launched, you will be glad you bought those tokens.
Sure this could be a bust, but again as I have said before (maybe you didn't read my long-form post?) I think there is strong evidence to believe the token-creation service is going to benefit all participants. And if the sudden jump in price and support tells me anything, it's that others believe the service will be an asset as well.
exactly..this is another reason why MNE can take more value..this isn't just tradable coin..you can create of value with it in create your token so you have more interest of hold it if you have 1 or many project at mind.