I am quite disappointed by this 51% attacker, most likely an ASIC miner insider, who would
do this when one spent so much long time to mine that much NENG. But what has been
done is done, the 51% attacker also exposed some weak point on the core software code that
dev needs to improve in the future upgrade. We can find an amicable solution for the benefit
of everyone in the NENG community including the 51% attacker. If you are the 51% attacker,
hear me out below:
I would propose that we have no inflation hard fork, the NENG supply cap stay as it is at 84
billion NENG. 84 is magic number from Litecoin, we are a new generation of litecoin, it is
good that we maintain this. I am creator of Nengcoin and I am willing to donate up to 2 billion
NENG for this SXC loss, and you return 2 billion NENG to below address:
NENG: NWSfowB8i1s78zUw8Umse1hHZF4Xovb7kr
We have other members of NENG community who already donated more than 100 million
NENG and we can restore all this without any inflation. We will have software code upgrade
v1.9.x to address this ASIC mining decentralization issue (read below).
What I want to argue is that by returning 2 billion NENG and keeping 2.25 billion NENG, this
is far better off outcome than your current status. Yes, you can keep 4.25 billion NENG now,
but my opinion is that this 4 billion NENG is not going to be worth that much for you. Think
about economics of this community, dev, community leaders are not likely work that hard on
this coin going forward if we are not on same team. Essentially we are working for you
because most of community members do not own that much NENG as you do. Also you
know as buyer when one push up the price too high, the attacker is going to come and do
51% attack for $5000 USD. It is already a public information that an insider 51% attacker
happened. So it should not be surprising that most NENG future buyers will know that and will
not push up NENG price too high. This coin price is capped by this issue. Let me be honest,
at most may be you can do another 51% attack for $5000 USD and let some suckers got
stuck on NENG again at exchange.
Now let’s think about the other outcome, if you return 2 billion NENG and we are on same
team again. How much more you can make on this 2.25 billion NENG? It could be far worth
more, and you could be rich from this ownership.
For the sake of easy calculation, I am using 84 billion NENG as the supply number and
current shorelinecrypto trading price to do below math
| NENG marketcap | ETN Marketcap | 50% LTC Marketcap | 2.25 billion NENG worth low | 2.25 Billion NENG Worth hig |
| 61K USD | 388M USD | 5B USD | 10.4million USD | 134 million USD |
NENG is first full block mobile minable coin. Electroneum (ETN) started out as mobile mining
coin. ETN is centralized with fake mobile mining while NENG is decentralized with real proof
of work mining on android phones. NENG partner with Cheetahcoin is dedicated for mobile
decentralization and allow thousands and millions of under-priviledged people to mine crypto
through an android phone. It is reasonable that our NENG price is trading at higher market
cap than Electroneum (ETN). If this happens in the future, your 2.25 billion NENG could be
worth 10.4 million USD at low end.
In the long run, our dev team will improve code and keep working on improving
ASIC/CPU/Android mining decentralization issue to improve security. For example, we have
long term idea of automatically adjust spike difficulty and cheetah difficulty on code rather
than manual hard fork upgrade. It is not unreasonable to have NENG to be ranked as 3rd
POW scrypt coin behind dogecoin and litecoin and we achieve half of litecoin market cap.
When that happens, your 2.25 billion NENG could be worth 134 million USD at high end.
Are those number crazy? Impossible to achieve? I can not promise anything, but the way we
goes, Yes, we can. We can change the world with new 51% attack protection method algo on
scrypt and we can achieve with hard work from dev, and commissioners, ambassadors and
miners on ASICs, CPUs, Andoid phones. NENG price rose 10x in 2020, and NENG price
rose another 10x in 2021 on USD before the 51% attack. 100x was just a start, once we go
through all the issues with technical improvement and code upgrades, another 100x, 1000x,
1 million x, yes, it is all possible!
NENG in chinese has meaning of “capable of doing something”, “empower”. Dogecoin and
litecoin and Nengcoin are all scrypt coins. Dogecoin and litecoin created many millionaires in
the past, Nengcoin we are litecoin on mobile phones! Yes we can too!
