The 4.3 million ERG foundation treasury is written into the white paper. The Waves links for the EFYT (Ergo first year token) have been broken for several months, but still work in the internet way back machine. The slipstreams for the FPGAs have been known about for some time and those who have been in the space long enough to see the rise of ASICs already know what happens next. This is all 100% verifiable if you bother to DYOR. Feel free to keep sticking your head into the sand.
Ergo already has FPGAs and ASICs are inbound. There are no shortcuts to ASIC resistance. All compromises made for the sake of efficiency only increase susceptibility to ASICs. Moreover, Ergo was compromised from the start. The EFYT distribution featured a small amount of wallets with the vast majority of the distributed supply before a single GPU ever mined a single ERG, effectively creating ICO bag holders. In addition, 4.3 million ERG was held back for the foundation creating centralized control. Don’t believe everything the Ergonauts tell you. Ergo is just another centralized project that exists for the benefit of the few at the expense of the many.
Yes. There was no pre-mine, and the emission schedule is viewable here: [https://ergo.watch/emission](https://ergo.watch/emission) So far about 70M ERG have been mined out of an eventual 95M, but the emission is now going to reduce drastically per epoch for the next few years, and then go to a long tal that will last about 20 years. A fixed percentage (<5%) of the emission goes to the Ergo Foundation, for managing the development and promotion of the chain over time. Miners are also potentially rewarded by demurrage (or storage rent), which applies to UTXO boxes older than about 4 years. After the emission schedule is up, this demurrage will gradually clean up any lost fortunes, so that the total supply will always be in play. The supply distribution is viewable here: [https://ergo.watch/metrics/distribution](https://ergo.watch/metrics/distribution) Of course, one person might hold many wallets, standard disclaimers. Almost everything done on Ergo is fully open source, including the watch app I just linked to. Cheers.
I mine ERG on a 3060TI. It is a net negative for me. However, in the bull if it goes back to ATH then it will have been very profitable for me. That said, that is a HUGE “if”, so I will likely end up losing (just like the rest of my portfolio)
there will be a new Bull market, the year is 2024 q2 the fed is done with its rate hikes and pivot is here, the BTC halving is in full force, the reserve banks around the world start to lower interest rates, 2025 begins and the fed are looking to reintroduce quantitative easing, futher more banks and governments are looking to build more and they start printing more cash, bitcoin is now flying as money is being printed, this is the cycles, alt coins follow in a delayed effect, ergo POW wins ERG the new Bull market is coming but we got a while to wait yet.
I converted a lot of my ADA into the Cardano ecosystem. I now hold GENS tokens (Genius Yield) DEX. I also yield farm ERG (Ergo) & SPF (Spectrum Finance) DEX token and collect rewards off that daily then reinvest those rewards back into the yield farm in an attempt to maximize my ability to accumulate during this bear market.
One cold wallet One hot wallet with about 10 different coins in it And about 5 chain-specific wallets because they just work easier that way (or my standard wallet (Trust Wallet) doesn't support it) (ALGO, XMR, ADA, AR, ERG). Yes, I have too many coins. I'll see what sticks during/after the next bullrun :)
Wow crazy to think ERG was on the list two years ago. I would still have it on my list today, and feel like a lot of folks still don’t know about it. I’m not sure it counts, and I don’t think they’re going to do a token, but Coinbase’s Base is really impressive. They’re taking the friction out of the L2 experience and I think they have a unique market advantage because they own both ends of the channel, from product and user sides.
Problem is I don't know if the coins I'm mining are "shitcoins" or not. ETH was like the only coin that had a proven track record, the other coins I've been mining since ETH POS have been questionable... \-RVN Maybe \-ERG Maybe \-IRON Maybe \-NEOXA Maybe \-ETC Maybe not. I just change it up whichever coin is profitable during the time.
I’m excited about Cardano (ADA). I love the growth. The community is huge. The liquidity continues to increase & Ergo (ERG). While this project is smaller they lead in innovation and tech and everyone is beginning to realize it. I always see new retail investors in the community and it’s well deserved.
I use a Decentralized exchange called Spectrum Finance. Their token ticker is SPF. I put an equal amount of ERG (Ergo) and SPF (Spectrum Finance) into their farm and earn APY off of that capital. They just released a new ISPO and LBSP (Liquidity Bootstrapping Stake Pool) Here’s all the info in case you’re wondering what that means https://spectrumlabs.medium.com/lbsp-a-novel-ispo-mechanism-for-bootstrapping-liquidity-7fb461b4b849
Among other things, there's a DEX, an NFT auction house or two, some ways to do some light gambling (expanding, at last check), a way to setup online raffles for various causes, a system for borrowing stablecoins against ERG, or ERG-based tokens, and a bit of other stuff https://sigmaverse.io/all-projects/?category=dApps
I don’t know much about ERG, so I cannot really say anything.. I’ll skip and go with the above guy ETH and moons, ETH depends what price you got in you are doing really well or you will be fine. No worries on that Moons yeah grand, you get them for free, even if you invest a little I don’t see an issue as long as it’s in relation to the ETH bag. Me > 75% BTC 10% SOL 5% LINK 5% LTC 3% DOT 1% ETH / mostly used for swaps. 1% ASTR
KASPA - KAS - the new PoW coin on the block that actually has incredible tech. It's by far the most mined GPU minable coin, has seen an incredible couple months of growth without being on major exchanges. Reminds me of ERG in 2020. Great opportunity.
Just do your research about ERGO. The ecosystem that they are building is insane, it's not VC funded, the Rosen bridge (DeFI) is just behind the corner which will make it much easier to buy ERG. 20x is very pessimistic expectation, as it will be around ath, but since that moment a lot of progress happened.
The Ethereum Request for Comment (ERC) model like ERC-20 and ERC-721 for tokens and NFTs are technically executed contracts, not a native unit like ETH. There's no complex logic to run for an actual native token, for example, ERGO had one single transaction with 10,000 outputs of NFTs/ERG/tokens with no smart contract or gas fee, just the standard 0.001 ERG fee.
> GLMR It's an EVM, but on Polkadot? That may have excited someone in 2021, but not any more. > ERG It can do how many transactions per second? Less than 100, I think. Why is the world going to become excited about this coin?
This my perception of them being "good", without looking at tokenomics, but: ENJ, ROSE, 1INCH, ENS, BLUR, OSMO, AUDIO, AR, GLMR, JOE, ACH, ERG Man, so many of the top300 i know nothing about. I think I need to do some more research into what is their purpose.
I think it will be ERG, it’s pow and similar to BTC, ERG has no gas fees and has big mining pools and one thing I love about ERG is the storage rent, unlike Bitcoin coins get lost in dead wallets and are lost forever but with ERG It recycles unused and lost tokens so they can be placed back into circulation. When tokens remain untouched for a period of four years, miners can collect fees, which are considered to be incentives for effectively securing the Ergo network when block rewards reach zero.
Quite sure no one talked about TELOS before. Not maybe know about it infact. Btw you do realize you're advocating SOL. Why you talking about meme etc. Kinda hypocritical. I don't hold any ALGO btw. Just think if you could chose between SOL and ALGO, you take the lesser of two evils. ERG and Telos both are mini caps. They have the potential to do 50-100x. I mean if you wanna do the shit coin casino, might as well pick decent projects with potential high ROI.
I think Ergo is one of the best bets. Is fairly launched with no pre mine or ICO. Registered in Singapore as well. Hopefully it won’t be deemed a security. Apparently the storage rent feature that recycles lost $ERG will help it be a commodity too. The ergo team said their legal opinion told them this 🤷♂️
Wrong. The reason that BTC is protected from the downturn is that it has liquidity everywhere. The downturn primarily affected coins that have high liquidity on Binance. Bitcoin remains mostly unaffected because it’s liquidity is stretched across multiple exchanges across the world. Same with ETH. While you are very correct about BTC being a commodity, there are other verified commodities out there. I will use some examples: RVN, KAS, and ERG. RVN is a verified commodity. It has been 100% verified KYC and SEC compliant. It dumped hard yesterday with everything else. Why? Because the vast majority of its volume and liquidity is on Binance. KAS is a verified commodity. It remained mostly protected from the dump. Why? It is not on binance. ERG, a favorite of this sub, remains questionable on commodity status due to the EFYT and the foundation treasury. It remained mostly protected from the dump. Why? It is not on Binance. You can find examples everywhere of blatant securities being safe, while verified commodities dumped: it all comes down to whether it had high liquidity and volume on Binance. This was pure market manipulation by Binance to get one last payout from leveraged traders before they get booted from the US market.
Still big in Ergo. Isn't directly exposed to US regulation stuff due to not being on any US CEX - funny how that might work out in favor of ERG. Also, it's eUTXO like Cardano but PoW (with light clients with nipopow support soon) and there's a lot of amazing stuff coming out of great teams that started in the Ergo ecosystem and are going cross-chain like Zengate Global, Paideia, Ergopad (Coinecta). Also love the Spectrum guys!
Coinbase made their bed when they kept listing obvious scams, rugpulls, and centralized garbage while ignoring projects that are clearly aligned with sound cypher-punk philosophy that are outside the SEC’s jurisdiction. They could have listed good projects like RVN, ERG, FLUX, KAS, etc but instead kept choosing to list whatever scamcoinElonRugpull-Inu ERC-20 token that comes along. I have no sympathy for them. They literally tied their own noose. They were supposed to have the highest of standards and instead jumped neck deep into garbage.
This is a common misconception. The Ergo First Year Token (EFYT) was used to raise funds for initial development and is really an ICO with a different name. After the first year, it was all swapped into ERG on a one to one basis. ERG itself did not have an ICO, but the project did. In addition, 4.3 million ERG was kept back for the Ergo foundation “treasury.” Both of these put together mean that it would not be too difficult to make a case for ERG as a security.
One of the best replies I’ve seen on Reddit. Thank you so much for a well thought out post. One thing I like about Ergo is that it has no gas fees and only has a .001 ERG tx fee. You can also do chained txs as you well know since you like Cardano (it’s also one of my favs). Speed is rough on Ergo though I’d admit. Ethereum is def king by far no doubt… I just think gas fees will eventually kill the chain if somehow that doesn’t get resolved.
I'm tempted to stack a low market cap coin like ERG because I believe it can beat it's previous ATH and finally be listed on Coinbase and Binance next bull run but I'm also contemplating on just stacking into the top 10 coins for safety reasons.
tldr; Cardano (ADA) founder Charles Hoskinson described Ethereum Classic (ETC) as a scam project whose only purpose is for insiders to dump on recruits with false hopes. Ergo not invited to proof-of-work summit The statement was made in reaction to ETC Cooperative’s refusal to invite Ergo (ERG) to a Proof of Work summit organized by it and […] The post Cardano’s Hoskinson calls Ethereum Classic ‘scam’ after Ergo’s exclusion from Proof-of-Work Summit appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Yep. It is all about what you think the token/project will do and are worth. If OP does not think Tezos is worth the hodl then move, but OP shouldnt just swap just to swap. I swapped my BAT for ERG because I came across ERG and liked it more. BAT is great, but I just think ERG has more potential for the next cycle
Im making a small profit mining KAS currently. Over the past few months have been going back and forth from RXD to KAS with difficulty swings. HiveOS makes it easy. Also have a single rig on ERG as a speculative mining gamble. Profitability or break even depends greatly on your electric rate per kw/h
Damn, everything seems better in a bull run, and every coin does something good. My biggest bag was Harmony ONE, now I am holding probably worthless bag of a dead walking crypto coin. Got out of VET long time ago. Was in CRO, got out not so long after Staples Center changed their name. CKB aswell.. ERG too. All shilled here. HOWEVER if I took profits when these coins were being shilled I would be in a plus. Because I didn't do that and I was a greedy bastard I am paying my mistakes.
Lmao indeed sir! I am a developer and absolutely know more about this than you. Wrapped Bitcoin bridged to ergo would be an ergo native token. Ergo supports custom tokens as first-class citizens because it's actually an immutable graph of transactions like crypto should be, not some horrible bloated global account model like ETH. Tornado/unijoin/mixero/chipmixer/yomix are COIN mixers. They can only mix the native coin. ErgoMixer can mix the native coin (ERG), as well as native tokens like SigUSD, SigRSV, wrapped assets like rBTC, rADA, etc.
Your post made it seem like the crypto was the issue. In general I agree, if you are not sure about a project and don't have the experience to actually analyze it and it appears only on shaddy exchanges, that generally just list and don't do any DD, its better to stay away. In this case, however, I bought a coin I was confident in (still am), only reason it was bought on Tidex was that it was the only place to buy ERG back then...early 2018 IIRC, this was right after the EFYT tokens were trading on Waves. I sent the vast majority to my wallet and left a small stack on the exchange to trade. Now while it might not be a lot of coins left on the exchange I still want it back and I don't appreciate the 5-month "maintanence" reach around.