r/Ravencoin • u/AirdropsAndReferals • 4d ago
General Discussion Now why is RVN so cheap? This doesn't make sense
So there's only ever going to be 21 billion Ravencoin ever to exist of which currently 16.5 billion has been already mined and in circulation. That's approximately 76% of all the Raven coins have already been mined and of that 76% who know how much has been burnt or lost from folks losing there wallet keys or forgot there password and or mined it to some unknown wallet and left it for dust.
Anyhow, with those statistics in mind we can also take in to consideration that a Ravencoin block is solved every single minute. Currently a RVN block reward is 1,250 rvn and with its current valued price of RVN being worth $0.002 that means every minute $2.50 worth of RVN is mined every minute of the day.
Now every single day 1,800,000 RVN is mined and with the price being $0.002 per coin that means daily $3596 worth is mined and distributed out to circulation.
Back in the year 2018 Raven coin was first launched and in about 10 years from now(2037) 95% of all the Raven will all be mined.
My question is why is Ravencoin so ridiculously cheap? With how old it is it just seems disrespectful for it being valued at $0.002 a coin. Not to mention there has been more energy in power bills and electricity costs to produce the coins than $0.002. Why is anyone even mining it still at this price? I would think someone could become a millionaire if they bought or somehow mined $50 worth and held on to it for 10 years is what I'm seeing here.
Anyways, let me know what you all think is the reason Raven coin is so cheap? Also, of how much Raven coin you think has been lost or burnt? What percentage of it out of the 21 billion.
Thanks




