Coin is dead? P&D finished?
Hash rate (and difficulty by proxy) continues to rise even after price returned to ~5k. No doubt yesterdays rise up was greed driven, and was clearly unsustainable (Unitus at 10k+ is the most profitable to mine by a factor of 3-4 as far as I know, and I took profits above 8k as I am sure many others did, my math put a price target at no more than 4k so I was surprised to say the least.) but between 3-5k for now I (and many others it seems) will keep mining; so not dead.
I am guessing P&D is done, what will be more telling, as to the future of the coin, is the price floor that is put in the coming days relative to the hash power. If difficulty stays high likely coin wont go below 2k and if that's the case then we will see where it goes. My guess is if price drops below 2k then the coin bleeds out like so many before it have as bag holders slowly capitulate.
Also, since this is a 5 algo coin, a telling sign of health is a strong difficulty among all the algos. Right now all the algos are very strong in hash power, if there is a potential factor in mining weakness my mind it is that skein and Blake are not incorporated into new releases; I believe they are still using 3.7.2-3. I would be impressed if the dev and community could get miners that are less than 8 months old out. Having selected 5 algos they are somewhat wed to the development of mining software related to the selected algos as well.
I would also note that their difficulty adjustment is very well implemented, none of the algos has gotten stuck nor have any dropped to a level so low as to allow for a quick mining of many blocks by one algo. This is a problem that plagued other multi algo coins that Unitus does not seem to have suffered from.
So my verdict is that this coin has attracted a sufficient core group of miners to give it a chance, and this core group of interest has not left despite a pump yesterday. Going forward growth and acceptance will be based on progress/roadmap etc.
Interesting write-up.
The difficulty adjustment can be credited to Myriadcoin fine-tuning it's own difficulty code over time. We have what we think is a good foundation for blockchain security with Unitus thanks to Myriadcoin's work.
