wish these coins would stay profitable for more than a day
Just shows you how many miners are out there. Vanilla was great for about half a day, then people hopped off of other big coins or ones with private miners (like x11) and wrecked it, then they went back to their more profitable private miners.
if people weren't dumping like crazy right after mining, it would profitable longer...
hence stop dumping... have some vtc, it went several time from not profitable to very profitable, if you are patient enough
you can get an interesting deal... that the way altcoins work, but since a year it is the "dump directly on exchange" which seems to prevail hence the low profit... well sorry but this is a bit on you... (please spare me the "I have electricity bill to pay..." which isn't a good excuse...
It's not profitable UNLESS you exchange them for BTC. Otherwise you're just a bag holder. Artificial coin pricing based on people not selling coins is not a market you want to be in (happened with Burst). That means when people sell, the whole market will collapse. The coin will equalize at whatever the daily mine rate is for the coin, minus buy support. Which is usually about the same for all coins as the market and mining profitability equalizes.
The only people the coin would stay profitable for if people held coins are the people actually selling. It's a good way to screw over your fellow miners.
I have electricity to pay for is a great excuse. Miners don't mine to be bag holders. They aren't investors, that's a completely different job title. Investors buy the coin and hold it for value to increase.
and why "investors" would buy a coin which gets dumped on a daily basis, by miners ? I mean you realize there is no point in investing in something which loses value on a daily basis, because people like you aren't able to hold a little.
To keep a profitable offer, you can't have infinite supply... that's seems pretty logical to me.
You completely miss the point actually... and that's the reason why many coins went to POS, to avoid moronic miners like you... and quite frankly you are the one getting hurt in the process... because investors stop investing and you are the losing money in electricity... anyway, this is basic economy...
What do you think happens when the US prints money each and every year then spends it? or any country for that matter? You can even look at coins that are successful, like Darkcoin for instance. It gets dumped on a daily basis as well.
It's the price of using the coin, some coins can support it if they have the community and the coins being minted don't overload the buy support and the people who want to actually use the coin.
I think you don't understand why miners get paid a fee for mining. It's a trade of service. It costs electricity. Miners pay their bills and hopefully have something left over. These are the basics of a operating coin.
That aside, coins don't have a infinite supply. They're a pie. The more people mining, the less coins per person, that's what difficulty is.
Dash doesn't get pumped on a daily basis, it gets traded (that's the big difference with new and old altcoin). Mining a stable coin like dash is different from mining some of the coins around. The problem is that the rule is applied to any coin, a new coin going through that process just get killed before it can stabilize, meaning dumping such coins, just destroy your source of profit.
I understand very well what miners are paid for, but when miner are stupid enough to sell below their profitability margin, then I don't understand.
Their is a crisis in France where meat producers where they are forced to sell their product below their margins (this probably could have been avoided through better trade and union... but hey...) while cereal producers usually when the price is too low, they _wait_ and sell when the price is higher (as they can store them)... I think you belong to the second category, if you don't see where is your advantage you are a moron and you will just continue to blame devs and private miners for killing the price... Because at the end, you will complain as well, that's the irony in all that system. You have the mean to influence on the market, but you still prefer to complain when you dump for ridiculous value because others did the same...
Coins can be considered as having infinite supplies, because most of them will be dead before reaching their first halving (if they have any planned), the difficulty doesn't do to the price either, because you are not able to hold your freaking coins... so even when the supply/miner decrease, the price continues to fall...
anyway, you are mining, I am not
I just make miners, your funeral
Coins get pumped because they are too small. It's not just a matter of time to stabilize but their design. Low diff, low value
coins seem to be intended for excessive speculation and manipulation, much like the junior mining in Canada, as I mentioned
once before.
Another analogy with real mining is the constant supply of new product. Gold is continuously being mined and every ounce
that has ever been mined still exists. We have to face the facts that mining altcoins is like the goldrush. And advancement
in mining technology (software in the case of altcoins) is also part of the game and not everyone gets the latest technology.
If you look at the history of many companies they originated as technology companies with a monopoly so they could
market their products at an advantage over the competition that didn't have the technology. It's no different than private miners.
Some develop their own technology organically and some "investors" buy technology.
Ad far as Nicehash goes, it was certainly a disruptive force but unlike most multipools it has it's own rhythm which is good
for profit switching. Sometimes Nicehash pays higher than multipools sometimes lower. Multipools have disappeared
because they have become a commodity. Every pool is almost identical. They have mostly the same algos, same coins
and same profit swings, and now even the same interface, but it's a good one. Hashpower and zpool are no different
than yaamp was. The "alternative:" pools succeed because they have found a niche. Some are agressive with new coins,
some focus on niche algos like cryptonight, I don't know why not's not on any multipools.
Nimbleness is becomking a desireable feature in altcoins. The ability to shoift algos means they will stay ahead of
the race toward asics. There no point in developping an asic for x11 if coins can just switch to x13 or x11v2 or whatever.
Some coins adapt like vert switching from lyra2re to lyra2rev2 (there's actually a lyra2 that is not the same as lyra2re,
and probably a lyra1 also).
I don't understand the use for merged mining. For one the merged coin is usually valueless and for another profit switchers
can simply adjust to the profitablity of the coins combined. Ules you use autoexchange to dump it's also another wallet
to manage and another coin to find on an exchange. It's like mining for gold and also finding lead. Forget the lead, go
for the gold.
You don't understand merged mining because you don't understand why mining exists. The point of it is to secure the coin, not make money on a P & D and move onto the next shitcoin.