Hello Guys,
So here we go. From a decent size miner perspective - my inputs.
It is not a secret, we miners we don't go well with devs. Mainly, bc every coin released it had a lot of pre-mined coins, sometime up to 60% or any other various fees. In the meantime, the only reason why, coins succeed is thanks to the miner community. All new coins when hit the exchanges are valued a lot, then the devs sale value go down. They profit, and we collect bits and pieces. But is us in the meantime, we mine, confirm the transactions, participate in community, create buzz. Each time believing, we are on something good. Some of us sale, some keep the coins. As for rewards, yea we get good returns in the beginning but sh...t afterwards. That is why we switch to new coins. The mining equipment cost a lot, running costs are big. There is money there, but the devs make a bigger chunk.
Personally, i don’t think my profits should go according to whattomine. Pre-determined by algo.
i remember, when panda coin came along in the first day you could do 20btc. now days with equihash f...all.
btc gold came out it gave me 2x profit on paper (now the coin is falling and i can’t transfer to any exchange bc they don’t accept mined coins yet - fuc...n jock.
It is a long time I advocate for thru miner’s coin.
this coin has a huge potential, but.
1. has to totally decentralized. every person in charge of a project must have a backup and backup need backup as well. (we know that part already)
2. no equipment that could be seized by gouvs or hack.
3. miners most be important part of your system. don’t do like Mr.Butalik did. we did make his coin great and now he would like go POS bc he cares about environment BS.
4 don’t go spent donations, and fetch for sh...y exchanges. We all know they are all crap.
Everyone in crypto will tell you what you need bitrex or polo and that is it.
You get there, when millions of miners will mine your coin, and put pression on them. people that don’t mine buy from sht ..y exchanges, at cheap price and keep coins until hits the moon. 1-2 years of waiting and your 10000$ investment will be valued at 1mil and you won’t have to work ever again. trust me is not a bad trade, just ask your parents or look at them after 40-50 years of working for nothing.
5. payments from donations for any project should be send not from zwallet but the transparent one.
6. latest ethereum fiasco - same wallet controlled or needing approval to send founds by 3 people. can we develop that it will be good for business.
7. using zwallet we can send totally encrypted messages for a small fee (obviously this app/wallet needs to be made for the phone)
We need to brain storm:
1. what to do, to keep small miner to mine your coin and smile from one ear to the other.
2. what to do, to keep the midsize from switching to other coins
My solutions are
1. steady rewards.
We all know when you mine 10 coins per day at 0.1 btc you make 1btc.
Few hours later big farm jumps in the pool (most of them are programed) mines for 5min. diff goes up and they move to other coin.
They sale your coin on exchange and don’t care about bringing the market price down. And we small miners, support and mine the coin for hours because of the high diff to collect 2 coins at half price (the price won’t go 5x because the diff is high).
Then the diff goes down and then the sh...t restarts.
You can ask any miner or pool operator in this forum and all will tell you this is the case.
ok this coin is fast 2.5min but still.
I belive we should: ban nicehash etc guys. or open ONLY official pools to give people choice. Only those pools will be able to mine this coin, and those pools won’t accept any gazillion hashrates.
Or the other option is change the diff like btc ones every 2 weeks.
I am business owner for past 15 years and this is my hobby.
Any input accepted
Thank you for your post. It's good to have you around
BTW can I re-post this over at FB?
