I understand your points bathrobehero, but I still mostly disagree. I'm quoting just the portions that concern my reply, there is no intention of taking your statements out of context.
There is a difference between dumping a coin and dumping a coin you didn't even know you were mining or even existed.
Are you referring to some sort of difference of moral values?
I don't see any difference on a technical level:
a) assign hash power
b) earn share reward
c) dump reward for an exit token/currency
d) spend exit token/currency on beer/hookers/blow (in whichever order pleases you)
If you are dumping it, you are dumping it. The reasons why you are dumping it, do not magically cause the effects of the dumping to become any different. I would go as far as saying that the more dumping, the wider a coin is distributed, and someone else will be happy to be buying cheaper. This is not a simple matter of right or wrong, black or white...
Regarding security, one could argue that considering the amount of hash getting thrown at these centralized multipools they are the ones posing a risk of pointing hashrate at any given coin to attack and exploit them and users wouldn't even know about it. And as mentioned above multipools used to kick the difficulty of coins into space when we had worse retarget methods.
You raise here a very critical point, which is that security for various coins is actually worse on account of the multipools, given the crazy hashrate at one's disposal and how easy this makes it for someone to mount an attack. However, we take very differently views on "what is broken" in this respect.
I find this to be stimulus towards developing newer and better difficulty retargeting methods - as has precisely happened in the past already. It is forced evolution, if you will. Also, multipools are just the equivalent of a large enough farmer - and be certain that they exist - in that they are simply a very concentrated amount of hashrate, that can quickly hop from coin A to coin B when the mood (profit) arises.
The coins need to evolve to a point where such hopping on and off from multipools (or large enough farmers), are not a catastrophic event to their network. It is that simple.
Why do you think ccminer has 35 different algos? How many of those algos do you think were implemented for coins just to avoid multipools and rental servies? I'd guess a whole lot of them but it's pointless to come up with new algos anymore since multipools can add them the same day. Holding PoW coins which doesn't have significant block reward decreases or short PoW periods have became almost suicidal for these reasons.
Most new algorithms have brought absolutely nothing of relevance to the evolution of crypto currencies.
That all those coins using obscure algorithms are insecure (aka, easy to attack) is a strong representation of a fundamental flaw in their design. It is that they have this unique characteristic (a never-before-seen algorithm), for the simple sake of being "different".
What did x14 offer the world of crypto currencies that did not already exist in x11? What about x17? What about X, Y, Z algorithms? The few that have a compelling argument to exist, are most likely to survive. All others are more likely not to survive. I do not see a loss here, I see cleanup.
There is also the even worse case, of all the new algorithms that were "invented" for the sole purpose of allowing stress free private mining (at much greater performance). There are plenty of those around, and they are just another form of technological garbage.
We should set our minds away from this idea that somehow mining is this all important process that determines the value of a certain altcoin. It is not so.
Like I said earlier: [...]
PoW mining, accounts for just a tiny/miserable fraction of the daily trade volume on coins with any meaningful reach of success. [...]
Note: I have the greatest respect for mining software coders, and even more so, when they so generously share with the community at large. I've even donated a beer or two! (rarely though, I'm a cheapstake)
Note2: I hereby agree to disagree!