Hello everyone, in the last days Croat has hard situation. Difficulty of the network is declining, so the price of Croat is declining too. When the price is going down it is a problem to motivate the HOLDers.
Electroneum has currently incredible PUMP and incredible Network hashrate about 6GH/s. Profit from 1 MH/s/day for ETN is about 0.0033BTC, while on the Nicehash is currently price about !!0.005 BTC for 1MH/s!! Whole capacity of the CN Nicehash is used for this ETN PUMP. It is artificial manipulation performed by ETN team according to my expectation. The goal could be to retrieve more miners from other coins. It is not the 1st manipulation of ETN team. We could still remember, that they were able to bought whole capacity of the Nicehash CN7 algo after switch to CN7 for several days.
Please HOLD Your Croat, do not sell it so cheap.
let's count:
The current ETN price is 0.00000340 BTC
The current average profit for 1MH/s is 1184 ETN/day
It means, that expenses for mining of 1 ETN are:
0.0044BTC/1184 = 0.00000370 BTC + 3-4% for Nicehash
But today at 2:30 PM of UTC time I reported price 0.005 BTC for 1MH/s at the Nicehash, while on the stock the price was 0.00000300 BTC, so expenses for 1 ETN were:
0.005BTC/1184 = 0.00000420 BTC
So the question is, who is the buyer of all hashpower for mining, if it is not profitable and much cheaper is just buy Electroneum??