The team is slowly building up - I can do some PR on my end.
This coin has many things going for it, from low energy algo to CPU/GPU friendliness. We are in a instant world where people expect high gains in a very short period of time - this coin has 10 days guys, it took weeks for darkcoin, aurora or vertcoin to emerge - not even talking about bitcoin...
I've been mining this coin since a few days now, and love the fact that it is still undermined - Eventually, if the coin has value, it will explode no matter what we do, it's just a matter of time before the market realizes the advantages of groestlcoin.
Also true. Makes sense to look at it with positive thinking. Thanks for raising my mood :-)
If you want to do informative PR, here is a third selling point: The 0.94-per-week block reward multiplication means, after 78 days it will be 0.94^11.2=0.5 ... only than half as many coins per block as in week 1. So coins have a chance to become more precious, driven by the seigniorage halving.
That is if until then each week, the newly produced coins are actually bought by someone, or saved away for later, and are not clogging up the orderbooks. At the moment, the rate of new coins per day is still immense, that is dangerous for weak hands, and people are now even more short-sighted seemingly - I agree. It would be useful to attract clever investors with a 3 month patience, who slowly(!) buy up the order books because they want to get really rich (and thus have to take the risk to become bagholders if it does not work out somehow - but big risk big gain is fair).
> love the fact that it is still undermined
Yes, with low difficulty, the coin reward per miner is big. At the moment ~700,000 coins are mined per day, and divided among the few of us. Nice. So what works is mine/buy now, HODL, and sell MUCH later. Patience. If you catch someone dumping, either slap his fingers - or just buy from him ;-)
The low-selling weak-hand miners are simply financing the trader's future profit AND pay the electricity out of their own pockets. Good for buyers - an undervalued price means that buying actually makes sense.
But, and there is a but. Let's keep it balanced, after all that optimism: Pessimism/Realism would mean, it makes sense to mine something more profitable, and then buy GroestlCoins with the earnings of that. The question is open if GRS attracts enough hashrate quickly enough to get on an ever rising trajectory - and I guess that eventually needs a price attractive for miners. Balance.
Hey, I wouldn't have been so urgent ... and now I'm a bit sorry for my bad manners ... if I had not been hooked already
As far as I can see it, right now for PoW there are only x11 and groestl as summer algorithms? I've tried both, and the halved Watt rate, temperature and noise is simply fantastic compared to scrypt, Scrypt-Jane, or Scrypt-A-nFactor.
Enjoying the coolness ;-)
Thank you, miners!
it will be more profitable