I'm after some community advice.
Currently the price is hovering around 20sat,which, puts the 250m (pre x11) at 50btc value.
(or roughly equivalent of 3.5BTC per week of mining - 14 weeks)
When you jump to x11 mining for 1 week, and produce another 250m,why would the market value the relative huge influx of coins at 20sat (50 btc) also?
I'm was an original miner from day one (albeit in a small way) and after making some good gains in itc today i was looking to invest some here, but just can't get my head around how, realistically, the market will react.
Cy
Keep in mind that until recently, pricing was judged with the understanding that ultimately a much larger supply of coins would be mined. Around 2 billion if I recall correctly. Now we will reach the 500 million mark a bit faster than we would have, but then it drops off to just the POS interest level. So effectively the future supply is being choked off, and valuations should reflect that. I don't know precisely how that will impact things, but I think it's too simple to assume the 1 week POS mining will have a huge impact.
I suppose some of the miners that week will be dumping, but that's probably an excellent opportunity for supporters to be scooping the coin up. After that the price should have upwards pressure from ongoing developments and as kids are given the coins. (Since I don't expect kids to exchange Piggycoins at nearly the velocity that traders are currently doing it at. (Lower velocity = higher pricing pressure.)
