Quote from: new24core on June 10, 2018, 09:12:22 AM

Quote from: linan_s on June 10, 2018, 03:33:19 AM

can anyone explain why are miners so important to a coin? And why mining has huge impact on the coin prices?

It is important to understand that ETN is currently in POW and below is a complete guide of what POW is :-

https://blockgeeks.com/guides/proof-of-work-vs-proof-of-stake/

It is quite funny how more miners and pool owners are now chatting on here now.

Where were these people when we needed them to get over the fork issue. However, I fully understand how fickle Crypto is!

You can see what the most profitable to coin to mine on the following site :-

https://whattomine.com/

Certain GPU hardware, like AMD Vega's, is better at mining CryptonightV7 and so these miners will lean towards coins based on CryptonightV7.

At this very moment ETN it is the most profitable CryptonightV7 and hence the chat from such miners and pool owners!

With regards to the impact on price there is no simple answer as there are so many variables that also impact the price. Generally the price of the coin is a reflection on how confident people are in the coin. At the moment price is dropping because it is not clear if the coin has 100% got over the fork and there is no real good news. This means people will not invest in the coin and hence the price will be driven down by the miners dumping their mining loads. However, if there was good news then people would invest and the mined coins would be bought and the price could be maintained or even rise. As I stated at the start of this paragraph there are many factors at play but miners are not the only variable that impacts the price.

Now lets not do miners injustice, many were trying to help without any profit for themselves