Has there been any discussion on block halving or increasing block time? I think we have a little problem in that at this rate we are mining approximately 864 million coins per month. Add to that issue there has been very little PR, dumping has caused mining to become unprofitable for most so we have very few miners with big capacity mining nearly all of it.
The way I see it right now, not many coins are moving. By the time this first batch comes out little miners aren't going to stand a chance vs extremely large bagholders compounded with those who mine and dump holding the price down low.
I'm not holding a large bag just earning whatever my 5770 can pull and thinking about buying in, I just feel like if the devs shift over to PR phase and this coin gets added to bigger exchanges, we are going to watch a behemoth dump festival pushing the price even lower unless demand picks up to the point where people are willing to spend big dollars on nearly half a billion coins that could be dumped hard. We all know how hard it is to get out of the pits once a coin gets buried to 1 satoshi.
The way I see it at this point, it's either going to to be 5-10 high capacity miners buying up everything from the store, or exchange dumping to whoever will buy spreading the coin thin to the point where very few people actually have the coin required to make a purchase. I.E. at current rate it will take approximately 4 million GPU coin to afford a 290X, if we end up in the 1 satoshi graveyard, forget it. Even if those big players decide to buy the first shipment, the devs will need to dump the coins back in the market to raise funds for the next batch. Once again if there is not demand for the tens-hundreds of millions of coins being recirculated, prices will crash.
What I'm trying to say is we're going to need serious demand to hold this coin up if we put out a billion a month and ultimately the goal for both holders and the devs is for the price to go up. Higher market cap = larger shipments for the devs.. No demand for billions of coins, selling will drop the price, and things cascade. I think we can alleviate some of this stress by reducing the amount of coin entering the market on a daily basis (at least until demand rises up to meet it)
Just wondering what thoughts are on the matter
The way I see it right now, not many coins are moving. By the time this first batch comes out little miners aren't going to stand a chance vs extremely large bagholders compounded with those who mine and dump holding the price down low.
I'm not holding a large bag just earning whatever my 5770 can pull and thinking about buying in, I just feel like if the devs shift over to PR phase and this coin gets added to bigger exchanges, we are going to watch a behemoth dump festival pushing the price even lower unless demand picks up to the point where people are willing to spend big dollars on nearly half a billion coins that could be dumped hard. We all know how hard it is to get out of the pits once a coin gets buried to 1 satoshi.
The way I see it at this point, it's either going to to be 5-10 high capacity miners buying up everything from the store, or exchange dumping to whoever will buy spreading the coin thin to the point where very few people actually have the coin required to make a purchase. I.E. at current rate it will take approximately 4 million GPU coin to afford a 290X, if we end up in the 1 satoshi graveyard, forget it. Even if those big players decide to buy the first shipment, the devs will need to dump the coins back in the market to raise funds for the next batch. Once again if there is not demand for the tens-hundreds of millions of coins being recirculated, prices will crash.
What I'm trying to say is we're going to need serious demand to hold this coin up if we put out a billion a month and ultimately the goal for both holders and the devs is for the price to go up. Higher market cap = larger shipments for the devs.. No demand for billions of coins, selling will drop the price, and things cascade. I think we can alleviate some of this stress by reducing the amount of coin entering the market on a daily basis (at least until demand rises up to meet it)
Just wondering what thoughts are on the matter
from the website
Technical Specs:
PoW Algorithm: Scrypt-N
Retarget: Every block using KGW
Initial Block Reward: 20,000
Max Supply: 13.5 billion
Block Halving Rate: 250,000
PoW Algorithm: Scrypt-N
Retarget: Every block using KGW
Initial Block Reward: 20,000
Max Supply: 13.5 billion
Block Halving Rate: 250,000
