Is this multipool dump you guys are talking about being automated ? for what amounts does it sell each time then and how often ?
Yes it's automated. If I understand correctly, multipools mine the most profitable altcoins then immediately convert them to BTC then pay them out. I'd say they dump around 10-30k coins at a time, eating up all of the top Buy orders. This artificially deflates the value of the coin because the true value is in it's innovation, something that multipools have no interest in.
wrong. The value of a network is in its current market value, determined by price on an open exchange. Innovation has nothing to do with it.
Its not artificial because open exchanges are driven by supply and demand. If demand is high, multipools mine "the most profitable coin" and match the demand with supply.
Thi is a good thing.
Innovation is do very important.
why darkcoin and XCcoin and Vericoin and voot coin ends their pow or reduce the blockreward to a small number when they realized the Multipool problem......
Its a scam tactic. 90% of the time early adoptors over pay for their coins. So they cry and complain about multipools because they want their coins to be back the levels they purchased them at.
Don't blame multipools for prices dropping. Blame rookie investors for paying too much.
Also, alot of devs will release coins knowing that in the future they can blame multipools and lower PoW rewards. It allows them to instamine a huge percentage of the coins in existance, then pump the value of the coin by cutting the reward.
DRK is guilty of this and they will never live down that fact. Cutting PoW reward to pump a coins price is a scam designed to reward early adopters. I will not continue to repeat myself I thinn I am very clear on that fact and that others will agree.
do you know XC coin suffered a 51% attack when Multipool control the most hash rate?
that's the real reason they cut the pow block and turn to a pure pos coin, but the total coin amount keep unchanged, so it's fair to everyone.
plenty of coins have been 51% attacked and have never had to lower their block rewards. XC just used that as an excuse to pull the reward reduction scam.
do you think if we keep the coin reward is 512 block reward in the next 3 month, the price will go up?
check the richlist you will find supercoin is the most fair distributed coin compared with darkcoin and XC coin.
also pos is a better way to distribute coin than meaningless mining
but pos rate too high is not vey good thing,
first it's a big inflation for supercoin and that's lead the price is not sustainable for long time.
second, most people put their coin in exchange platform, it seems bittrex has about 3 million coin in their Wallet, they can generated many free coin everyday...
