This is nice man. I liked this coin from the beginning... It does need our backing though in the crypto community.
This coin is a breath of fresh air. Anonymous, quirky developer, barely any information about the coin, yet the popularity is rising naturally. It's fun to try to figure out the new algorithm and actually mine a decent amount of coins on a CPU. So tired of 10% premined coins with the usual excuses and scam ICOs with all their "advanced" technology and promises yet useless coin only to be pumped and dumped. Yenten is how cryptocurrency should be, completely anonymous and growing in support organically from the community, not just because the devs spent all their premined coins on marketing...
Agree. I have a feeling the developer didn't think this would take off and so there's no pre-mine or high expectations. It's ironic. Also, I haven't followed a lot of CPU coins on markets from their start, but it seems like the hashrate and market price progressions have been very natural.
Aside from the Amazon AWS guy who had 50% of the hashrate and then dumped all the coins, it has been a natural growth. The good thing about this coin is that (as mentioned before) it has diminishing returns for super powerful hardware so it's just a waste of resources to point thousands of h/s at this coin when you could make so much more with e.g. XMR. So it's not likely that we'll see huge whales taking over the hashpower unless they like wasting money. Plus GPU mining is useless on yescrypt coins (only about 10% equivalent CPU hashrate so guaranteed waste of electricity costs) so I assume it's the same with Yenten's yescryptr16.
Yes. all sounds right.
i should mention that i dont believe the aws guy dumped his coins. It looks like he mined 36,000 coins on the first pool at a rate of 18k ytn a day, then switched to the other pool a few days later and mined another 36k at 10k ytn a day. i assume he is above 100k coins by now maybe even above 150k. We havnt had a market dump of even 10k so im pretty sure hes holding the majority. also i can see others doing the same thing who have 10-50k coins as well.
im not really sure what i meant by natural. i guess theres no premine and no monopoly on mining. if whales dumped the market even now then wed just be able to buy this coin for super cheap, cheaper than we can mine it ourselves and that would be great. it would be as if someone else is mining unprofitably FOR us.
either way, the hashrate has doubled as the price has dropped which is bazarre. lots of people are expending thousands of dollars in resources mining this coin and that is a really, really good sign.
