Most people on here complain about FIAT but most coins inflate far faster than fiat does... Completely insane. Being the most profitable coin to mine ensures the supply of your coin increases at a rate which puts the Fed to absolute shame. Seriously, anyone been tracking the growth in the coin supply of Elacoin? That coin has almost quadrupled it's coin supply since December yet it came out in May. That's what happens when you change the block reward from 1 to 5 and in the process massively incentivize miners to mine your coin. Being the best coin for miners is not a benefit, it is a curse. It is a curse which anyone who is not a miner should see immediately. Being the most profitable coin for miners ensures that it is almost impossible for the coin to sustain any considerable long term appreciation. Sure, it may go up temporarily but how much can such a coin possibly go up in value? The higher in value it goes, the more hashes are sent it's way. It sounds kind of like the worst investment possible, actually. I mean, how is a coin supposed to gain value if it gets attacked with gigahashes every time it appreciates?
So, in sum... We should rejoice that dumpers are abandoning us. For miners that genuinely care about CAT and it's future, there is no reason not to send some of your hashing power CAT's way... Plenty of people do that for coins they actually believe in. Sadly, I see more and more confirmation that most miners care only about the Almighty U.S. dollar. Or perhaps it is not such a sad thing afterall... I mean, do we really want such people mining our coin? Why? So they can dump it on us? So they can post nice positive stuff about CAT when it is rising and trash talk the shit out of it when it dares disobey their order to fork the coin and reset the difficulty? Why the heck would they care if that destroys the coin -- the coin is already destroyed as far as they are concerned, as is every single coin except the very most profitable coin (that logic clearly only makes sense in Miner Land).
^^^ THIS
In terms of coin value.
Mining MORE coins means LESS value per coin. The less people mining the better. All coins go up and down.
Our dif is high. That will mean higher value and less dumping. When it changes in a week or two it will go way down and miner's will
pile in the and price will drop for a little bit.
Hey I mine too.. don't get me wrong. But it's a 100% fact that being top coin on coinwarz lowers the value of the coin.
If you are in this forum as a miner then best to come back in two weeks. UNLESS you are HOLDING CAT long term.
Then stick around for the ride. If you are mining and dumping this is not the coin for you.
All you need to do is look at DOGE as the test example of what mass mining does. If DOGE had specs like our coin
it would be at $10 per coin.
After holidays are over coin values will go up. Most of the coins are down this whole last week. Especially last two days.
Just come back to trading in a couple days.