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Talk about a SLOPPY launch. At least them miners got enormous gains. Maybe in some indirect way the now rich miners will support the infrastructure for a higher and a stable price.
I don't think miners got enormous gains. There are things to consider like equipment cost and electricity cost. Nobody mining got rich. Now if they HODL the coin and goes to 50 cent in a year, they will do well.
If anyone got an enormous gain it would be anyone who logged into Cryptopia and purchased ETN when it was 400 Satoshis and then sold when it went up to 800 Satoshis. That 100% gain.
Or anyone who bought at 700 and sold at 800 the more than 10x it traded sideways the first few days. Or 600 to 700, 500 to 600 and so on.
Plenty of money to be made for everyone during this launch so far.
I was able to mine 240,000 etn within the first 12 hours and sold it all between 1500-2000 satoshi a few hours after it was listed for about 4BTC total. While it's not insta-millionaire type thing it was the biggest gain from mining ever and I was able to make ROI on all my mining equipment which was over $30k investment. My electric bill is over $1500 a month so thats something to consider too. The nethash/difficulty skyrocketed after nicehash added support that next day plus after that and the price crashed and now mining ETN is basically the same or less profitable any of the other altcoins zen/eth etc as shown on whattomine.