I hope the miners that were complaining about the 2nd batch release (so soon and so cheap) come back and read this feed. This is the reason Bitmain had every right to release a second batch this soon and for a lower price. When the miners are making $300/day and have a 7 day head start on the the 2nd batch Bitmain can do whatever the hell they want as far as I'm concerned. Good on you Bitmain, thank you. Quite frankly, I can't believe Bitmain offered the refund. I've never seen a product released that will almost certainly ROI in less than 2 weeks.
Agree but how to ROI? I cant find a way to send the BTM from Offcial Bytom Wallet to any Exchange. I get this error "
Any idea how to exchange?
The exchanges are using ERC20. Mining rewards go directly to Bytom. Hopefully the exchanges will accept Bytom soon.
This has me kind of worried. Once an exchange gets it up and running, everyone is going to sell all at once and crash the price.
I had that thought also but let's look at the facts:
1.) 70% of Bytom are already in circulation. 987,000,000
2.) There are less than 1,000,000 new Bytom mined daily
3.) In the last 24 hours roughly $75 million worth of Bytom exchanged on different exchanges (coinmarketcap.com)
4.) Price is already down 20% in just a couple of days BTM/USD, down 50% BTM/ETH
My opinion is that if everyone goes to market at the same time on the same exchange with 100% of rewards when an exchange begins accepting BTM, yes the price will drop. But I don't believe that will happen. I also think a lot of the price adjustment is already baked in. We've had a huge run over the last week in nearly all crypto yet BTM is down significantly.
Also, this is Bitmain's baby. Do you think a multibillion dollar company is going to let their technology fail? It wouldn't surprise me if they bought more at a lower price much like an underwriter buying stock at an IPO to hold up the price.
Or I could be completely wrong and this is a $0.20 shitcoin this time next week. In which case I will only have made $40/day instead of $240
