Ixcoin sure looks like it is dying today. I could be wrong but the price is tanking and is less profitable now to mine Ixcoins than bitcoins.
I'm going to keep watching because I am curious what Thomas believes will happen with this network once the profiting dries up.
It'll be just like namecoin, where people hop on when it's profitable to mine but don't do it otherwise. Though I think the price of ixcoin will be extremely volatile (compared to namecoin).
Well, since the point of this one was to make a certain aliased person profit, it wont be the same as namecoin.
One point of namecoin is to get domain names using a different DNS TLD to the standard.
You can still do that with namecoin.
At some point IX will no longer be worth trading and then what use is there left for IX?
The only use was to trade them for BTC ...
So the net result will be lots of people will lose a small amount of BTC that they traded for IX (that will become worthless and eventually untradable) and the early smart ones will have (already) traded most of their mined IX (be it 580K or otherwise) and made a lot of BTC.
As for selling them off - as I have already stated before, of course he wont just dump them, that would destroy the value of what he has and hardly sell any.
He probably has been trickle converting them to BTC since it reached some worthwhile value.
Well, it's lasted 4 days so far ... who knows how long until people realise the problem of giving BTC in exchange for IX and trading dives to zero ...
