Topic: My 2 cents on why the new, promising coins only go downward in value (Read 427 times)

Fedora coin is not currently considered a promising coin but someone did some research and found out that one pool is dumping 75% of all fedora coins generated each day. The pool just dumps them at rock bottom prices as soon as it gets them. Just like you say, it's really keeping the prices down in the dumps.

It's starting to look lately as if even good, promising, innovative coins aren't standing a chance over the big fat dumps lately.

I haven't seen this mentioned enough, it's like people here who should be good with numbers should've realised this by now, but apparently they don't.
The ones that keep dumping on a daily basis are not you mr. dogecoin miner, or you mr. x11 miner or maybe even you, sir sha256, god of all coins.

It's pools, pools with their 0.5-2% fees.

Most coins generate a big amount per day, given they have fast block generation, and these pool owners get 1 % of the blocks generated.
This may sound a little to you, but it really isn't.

Noticed how most exchanges have 0.15-0.2% trading fees? That's cause people trade a lot. But we miners find blocks really fast too, and these pool owners receive on an average 1% of all those coins we thousands of miners get.

Let's take a look at myriad coin, qubit pool with a big % of the algo's total hashrate. They generate 483 out of 576 blocks in the last 24h. That's 83.8% of all daily coins. Which on an average day is around: 480,000 coins, 1 % of that is 4,800.

Wait, no that's not a lot, I just realised that... should've made the math before deciding to talk about this I guess...

Okay then I'll blame the obvious ASIC miners that have recently started appearing with 250gh/s speeds.

TL;DR: asic's suck, i'm too high for this