What are others strategy for this coin.
Reading through other people's posts, it does look like most do not understand budgeting, accountancy, economics, business, investment, etc, but most are computer geeks.
On here some used the words inflation and hyperinflation, it made me laugh that they don't know the meaning of the words itself. So do yourself a favour stop using those words.
Some said they need to sell to pay for their electricity bill, recoup their investment in buying more GPU cards and make a profit. The profit would not be much unless £100 is a lot to you, that if you are on unemployment benefit.
On coinedup we can see a list of sellers and buyers, the sellers list is long. The sellers are giving the impression that the supply is higher than the demand. This drives down the price of RPC, whether that is your intention or not, i do not know. Those are idiots, don't be lazy and remove your sell list if the price is nowhere near what you want.
from
0.0359 8.59359761 0.30851015
0.036 0.0065 0.000234
0.038 2.86529095 0.10888106
to
90. 2.24 201.6
100. 2. 200.
155. 0.99886309 154.82377895
should be removed, the buy side should always look longer than the sell side. Use some common sense.
Investment in RPC is no different to say buying shares on the stock-market. If one wants to buy shares, one would have to have the money or save up, that saving means making sacrifices somewhere else.
Many do not seem to know how electricity is consumed and the concept of energy efficiency. Your GPU is consuming electricity even if you are only browsing the internet. When your GPU usage % goes up the electricity consumed goes up a bit as the energy efficiency rises first. When you are mining at high intensity the GPU will consume more but the difference between idle GPU wattage and max GPU wattage is the extra cost.
Here is my simple strategy. Figures used as a guide to simplify my points.
For argument say, lets say that my living cost budget is £100 per week. I am now mining and understood that my electric consumption is going up by comparing the electric meter on a non-mining day and mining day. I then can calculate the extra cost of electric of £5 per week. Living cost goes up to £105, so i make some sacrifice, i.e less beer, less central heating (used my electric heater only 5 times this winter as the computer heats up my living room) thus saving £15 per week. Now living cost is £90 per week. Saving £10 per week. That saving will be invested at some point in the future. Now as long as i do not raise my living cost above £100 per week, i am not losing money. However i am now investing (long term as i am incurring no extra cost) and saving. Investing is better than spending too much on beers as beers just go into one's mouth and out of one's dick.
Do i need to spend £5,000 on 10+ GPUs, couple of motherboards and PSUs, fans......mmmmm no. If i did then i would have to spend too much time on here mining junk scam coins, the others not RPC
, and sell them to recoup the outlay. Like those who are selling RPC now to get some money to pay their bills. I have no extra bills because of one's sacrifices. I am then able to hold any coins at no costs, losing nothing if they all were to die a slow painful death. However if any were to rise in value over the next couple of years, then it will be a bonus. Like buying shares and holding them for a couple of years. Of course if you don't have any money then you can't buy shares, if you can't afford to lose money then don't buy shares. The same principle of investment applies here. The difference is that since i have no extra cost, i will lose nothing.
Hence i can mine whatever i want and hold. Bitcoin took 4 years to get where it is now. At some point it will go higher and less people can afford it and will buy coins that are within their buying power. Hence those coins need to be solid. RPC, Litecoin in my opinion has the most potential to be solid compared to others.