And people haven't realised yet the potential of XDNA or the good cause of XDNA Foundation which is a philanthropic organization. Ofcourse we have yet to see how much of a help will the XDNA Foundation be to the world, but judging from my experience in the official Discord channel, the guys behind it seem very passionate and serious about it.
so what you are saying, that if I want to give away my money to charity, just mine XDNA?
i have found that mining XDNA is only just break even for my vs electricity costs due to the slice of block rewards which go to masternodes.. so yes, mining XDNA gives me no profit whatsoever - i am presuming that the portion of masternode rewards which is given away is being donated to the foundation by masternode owners? or do they not follow this 'give it all away' ethic?
to summarise, i'll feel better about myself by mining XDNA but make no profit for my mining expenses? right?
Not exactly what I meant, but if you feel generous then sure!
What I meant was that investors (not miners) prefer to speculate on projects that offer
nothing than speculating on a project like XDNA which at least offers 2% of mined coins for a good cause.
If the value goes a little higher, then HEX will become very profitable to mine, but unlike other coins it won't become unprofitable the moment the hashrate increase by 3 times! That's because of the BitGun system.
The BitGun system is an interesting one, see why,
- If the value of the coin falls, then miners leave
- If miners leave, then the BitGun level falls
- If the BitGun level falls, the total inflation falls (less coins are produced, so less coins can be sold)
- If the inflation falls, the price will eventually rise or stabilize
- If the price rise, miners will start coming
- If miners start coming, the BitGun level will rise
- If the BitGun level rise, then the inflation will rise
- If the inflation rises, then the value will eventually fall or stabilize
This system might prevent us from reaching moon
during the PoW phase (PoS phase is another story), but then again I'm a realistic person and I don't expect anything to reach the stars. Having a stable price which hopefully will rise little by little and
steadily is more important for investors. The "moon" thing is for kids with zero financial knowledge.
TL;TD: BitGun might prevent extended periods of price rising, but it'll also prevent extended periods of price falling.