Topic: [ANN][XCN] Cryptonite - NEW Thread | 1st mini-blockchain coin | Bounties! - page 7. (Read 215289 times)

Full Snapshot from 2020-04-01

It seems to me that you have not read my last post well. as i said i don't blame anyone.

You can't blame people that bought in at higher prices, asking for development.
At least they are hoping to get their money back.

I know that nothing has been shown yet, but here nobody talks about the 1st project of use in the real world. new era.
in the end you just want some stupid feature in the wallet. and pump and dump.
I don't blame anyone. It is normal but if I find it curious that no one pays attention to this project.



PS: About my article. i can confirm that is a old version when price was 12 sat. but afterall you can do the correct numbers. current dificulty and sold at 1 sat. can be profitable for many if there are buy order. but i think it is not ideal.


#sekker

xcn if you want to be reborn, bitbreak is an indispensable developer, but n years ago he didn't care much...

Good to hear from you man! I hope everything is OK on your end with this corona-v.
Indeed XCN is still active and working, but we need more than this to have some trades/liquidity. Also I hope that @bitfreak will surprise us nicely, would be awesome.
Stay safe!

Thanks! Indeed, I wasn't very active recently.
Actually, I've been maintaining all the stuff (nodes, explorer, snapshots...) but have no time for new development.
And, bitfreak is nowhere to be found, I hope he's fine and just very busy, and can come back and help us a little. I also don't know how far he went with "XCN 2", maybe he can surprise us with something :-)
On the other hand, finding new devs or investors for an old (even if important and innovative) project is very hard: most people just want new stuff, that can be easily pumped. This is the hard truth we learnt.
But, I won't rule out a new spring for cryptonite: in the end it's still active and working, while most small altcoins are dying or already dead, and had nothing interesting to show anyways.

Same here. But unfortunately shit happens and some things in life doesn't works as we wish.
I liked the project and the tech, but when you see no development and the devs absent, I think is time to move on.

@Pallas, don't get me wrong, I appreciate your work and the attempt to resurrect the project, but even you can keep this alive.

The current state of xcn is equal to the death state of the ICU, but there is no extubation.

Not sure I understand your point.

Facts show its your calculations that are 'absolutely wrong'. People are selling at 1 sat. And based on some observations (sell wall growing gradually) at least some of the sellers are miners. If your calculations were correct, those people would have been selling for loss. Do you really think miners are idiots, they do not understand what they are doing, and after seeing your calculations they will have the 'eureka' moment and stop selling for 1 sat?

You say "And current sell orders at 1 sat still having no sense to nobody.". I say - "if something seems unexplainable to you, but happens anyway, that means your assumptions are unrealistic or calculations are wrong".

I was buying at 1-4 sat, but lately stopped doing that, just because I see little sense in doing it.

I want XCN to survive, but just I am trying to be realistic.
Again, in crypto, no development == no future. Simple as that.

I dont know if when you started the price was 2000 sat or 3000sat or 1sat. just saying it because who bougth at 3000sat. had a total mess. And current sell orders at 1 sat still having no sense to nobody. atleast if you want to take alive XCN.

if not... then just still doing this.

#sekker

absolutelly wrong. even if you bought a PC for personal usage. it still having a Cost. and i meant all of this to cover expenses of miners. If you count with Free electricity and Free intial cost. then even better. but you can not say XCN miners are another thing than eth or Zcash. because you should think then what about a guy with those 10GH/s. it is also for personal usage?

#sekker

yeah that article was older version. you can do the same elaboration with 1 sat.

#sekker

Sekker, your numbers seem pretty strange, to be honest.

First, as othell_rogue  told, the price of XCN is not 11-12sat, but less than 1 sat now.
Second, the most miners who mine second-rate crypto (coins with low hashrate and low difficulty), are home miners, who use their personal cards and mine during PC idle time. Their initial investment is ZERO, because they initially bought their PC just for personal use and gaming, so mining for them is just an added bonus. The ongoing costs are purely electricity (because there is no renting needed for a single home PC, no any other cost). Many of the "miners" are kids mining with "free" power (electricity paid by parents).

All your calculations might be correct for Ethereum or ZCash, but they are absolutely inappropriate for XCN.

I know one thing - if coins are sold by miners for 1 sat, it means the mining cost is less than 1 sat.

And last, but not the least - no coin can survive for long without any development, or at least some cheerleading.

I didn't bought at 2000 sats, but around 100. Anyway where did you came out that numbers?
Where can you sell XCN for 11-12 sats ?
You can't even sell for 1 sats, since there are no buy orders.

In this situation where the volume is nil, and the price is at its lowest. I want to do a deep act of thought

At this moment i will try to talk about the XCN "minimal price".

All of us should know in cryptocurrency the prices fluctuates, but also many coins need be mined, as Bitcoin (BTC), Ethereum (ETH), Crytponite (XCN), it means, in order to do it and also do support to the network of the coins, New coins will maked on each block as reward. As a Proof of Work coin do, Cryptonite (XCN) does.

A lot of articles was wrote about Electricity efciency and costs, but is not the matter of this article, i will mention it as a "fixed cost".It also dependes each country. But if you have a free electricity i am sure you will want to sell expensive, "if expensive the better" as a miner, right?

Also Hardware cost is can not be forgotten. Each coutry also have a price difference, but it could be analize better than electricity cost. Cryptonite (XCN) is a ASIC resistance coin and for now, just for NVIDIA cards.
I will try to do a analisys of the cheaper new miner and expensive one.

1060 6GB rig (include cpu etc. Full equip)
   -If you use a normal motherboard could put about 6 gpus. Zotac GeForce GTX 1060 Mini 6GB GDDR5 (304 €)* 6 units = 1824€ plus, Power supply, motherboards, CPU, cooler etc.  It is around 2200€ as well (depend of each country) it is around 90 MH/s.

1080Ti rig
   -If you use a normal motherboard could put about 6 gpus. Gigabyte Geforce GTX 1080 Ti Gaming OC 11GB GDDR5X* (759,4) 6 units = 4559,4€ plus, Power supply, motherboards, CPU, cooler etc.  It is around 4750€ as well (depend of each country) it is around 180 MH/s.
AND now out of there have 2080ti rigs... is even more expensive than 1080ti rigs obviusly.
In order to adjust a single XCN coin price, i will try to do a deeper look into single card (hashpower, electricity cost, aproximated reward)
i will chose 1060 6GB in order to do a minimal ideal price:
304€ each card.
90W electricty cost each card.( in my country electricity cost is 0,12€ KW/h
Other hardware, Needed almost to get a single card as well. 350€ aprox.
Internet conexion is about 35€ depend of companies and country. In my country is about 48€
and if you want to count whole costs also a Place where put your miner. House, local. Office, enterprise, etc. I will choose the cheaper one in order to do the Mininmal ideal price."HOUSE". And atleast you have in your own one. It must be atleast rented. It depends each city and country. But thinking in chepest one. I will choose one about 350€.

then just for a single card. The neededs are huge. 954€ as initial investment and 407€ if you count the rent plus electricity bill (just counting aproximately only expense of mining) and internet cost.
And we should be know if you choose e.g a single 1080ti the initial investment reach. Right?
Then, each miner know exist a ROI and fixed costs as, electricity costs and internet costs and rent.
All miners have not the same situation and it is subjective. But i am trying to look into a minimal invest since 0 help.

A single miner with a single card. Have a initial invest about 954€ aprox. And 407€  mothly.
You can see his numbers on:
https://whattomine.com/coins/184-xcn-m7?utf8=%E2%9C%93&hr=15.0&br_enabled=true&br=180&p=90.0&fee=0.0&er_enabled=true&er=0.00000011&cost=0.12&hcost=0.0&commit=Calculate

32 000 XCN month at current ( 11 sat)  price is: $12.91  costs is not included. It represent a lot losses at this moment for each miner. [NOTE: current price is about 1 sat, pelase do the changes to understand it better]

It will be higher if you take in count others cards.etc. [It Depends of diffuclty]


nvestors and Traders:


Each market is always fierce and cruel, to this oppportunity of deep look i will choose the worst situation possible for users of  Cryptonite (XCN) who was bought on summuer of 2017.
about 2000 sat.
It is so simple. Current price is about 12 -11 sat... the tragedy is alteast clear.

To these type of user, they couldn´t trade and and re bought on other prices. Because china anti law and deslistng. Then they are obviusly holders. It represent ateleast the 50% of the market.
The trend and normal practice on crypto is follw the trend and try to ake profit. But this users no matter how yo are seeing. They have losses.


Conclusion

In order to orientate each user being trader, investor or miner. I will try to find a ideal minimal price... taking costs on real things as i mentioned before.

For a miner with a single card. In order to cover his expenses. Atleast should be 13,56€ month. Dont taking in count his initial investment. Just covering his mothly costs. If a single day these miner earn 1000+ XCN at current price is a 0,43$ about 1200 satoshis of BTC. For him the price per coin must be atleast 0,565€ /hour to cover his monthly cost. Per hour this miner earn 45.56  XCN. Then trying to find his ideal price should be 0,0124012291483758€ per XCN.
This price do not represent profits. You must think it is just his monthly costs covers. No ROI and no profits.

It depends on the type of mask one is using.

Thx for the advice ... but masks don't filter out viruses.. only some dirt.

Thank you for your advice. we will fight this together. I feel grateful for China's help to our countries.

#Sekker

Thanks for the advices. We are on country lockdown anyways.
Everyone take care and we will get out of this stronger.