Topic: namecoin are low, why? - page 3. (Read 5064 times)
Also the value of namecoin is not THAT important anyway, what is important is that NMC miners keep the DNS working.
NMC are now being produced mostly by people that have no actual interest in namecoin. They are essentially worthless to them, and they will take whatever they can get. You can't expect them to remain valuable when people get them for doing literally nothing they weren't doing already.
Or the number of namecoins being produced is now ~5x what it was for last month prior to merged mining. For most of those miners they are simply revenue. A BTC proxy. Instead of getting 1 BTC they are getting 1.2 BTC per unit of work however to collect that 20% bonus requires selling the coins.
Daily supply for sale has increased 5x but demand hasn't. Demand likely has increased some because namecoins future is more viable now but it hasn't increased 5x.
Namecoins, widgets, or bennie babies it doesn't matter. Increased supply relative to demand = lower prices.
Daily supply for sale has increased 5x but demand hasn't. Demand likely has increased some because namecoins future is more viable now but it hasn't increased 5x.
Namecoins, widgets, or bennie babies it doesn't matter. Increased supply relative to demand = lower prices.
which is daft, the inherit value of namecoin grows significantly with time.
Coordinated sell-off buy people who fear loss of BTC dominance.
oh i see. but is that the whole truth? it is not many small sells, but a few big ones.
speculation?
speculation?
Merged mining gives extra namecoin as income, people dont understand namecoin so they immediately exchange them for bitcoin which they trust more.
Hashing power rises due to merged mining, cause selling pressure.
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