I disagree that gpu mining will save it, simple problem is outside of mining (and thats now limited), there is no interest in buying XPM. Why? Well why would there be? XPM has nothing to back itself up, it just seems like a beta test.
gpu might give it another 10min of fame but thats about it.
Topic: [XPM] Why Primecoin Price Has Bottomed Out - page 2. (Read 9018 times)
Pretty sure that the GPU miner for Primecoin won't be any faster. It's finding prime numbers, using basic arithmetic. This is what CPUs excel at.
That's still theory, Litecoin at the beginning also was thought to be exclusive to CPU only.
An amd 7970 has 2048 cores that can all do arithmetic, a core i7 has 4-6 hyperthreaded cores. The 7970 wins by a long shot when is comes to just doing arithmatic. As far as I understand the weakness of gpu's is that they cannot handle code that has to make if else decisions well.
Bitcoin hashing is just basic arithmatic as well.
Pretty sure that the GPU miner for Primecoin won't be any faster. It's finding prime numbers, using basic arithmetic. This is what CPUs excel at.
That's still theory, Litecoin at the beginning also was thought to be exclusive to CPU only.
An amd 7970 has 2048 cores that can all do arithmetic, a core i7 has 4-6 hyperthreaded cores. The 7970 wins by a long shot when is comes to just doing arithmatic. As far as I understand the weakness of gpu's is that they cannot handle code that has to make if else decisions well.
Bitcoin hashing is just basic arithmatic as well.
Original article here:
http://ecoinomist.com/xpm-primecoin-price-bottomed
Ever since Primecoin has been on exchange, we have seen quite a radical price swing from as low as 0.0019 to as high as 0.019 (x10 times fluctuation) just within the space of one week.
This is by the far the most profitable altcoin to date for speculators to trade with the typical price swing of 10-20% per day if sold/bought in the right time, with huge initial volume of trading that no other crypto has matched for such an early release stage.
So why has the price hit the floor recently?
Some possible explanations:
A)
While it's not profitable to mine with VPS, such as DigitalOcean or Amazon EC2 any more, the early miners like myself, who mined XPM in the first few weeks were able to mine at a profit even at the current exchange rate of 0.0061, mainly because the difficulty back then was way lower than now. But just like many miners, I saw a very rapid price increase x10 times just within the space of one week, thus suspected XPM might be on big exchanges like BTC-e soon. So I held on and did not sell much.
Now many VPS miners end up with a stash of XPM that they have paid hard cold real world cash for, which for some, due to economical reasons, they might have to sell some in order to recoup back the initial investment.
These are the kind of reluctant sellers, who would only sell just enough to cover his/her overhead -> thus we observe low volume of Primecoin trading lately.
The major Primecoin exchange mcxNow has hit the lowest XPM trading volume ever at ~170 BTC per day.
B)
The only people remain mining XPM right now are the botnets (zero overhead) and VPN operators who have access to server computers at much cheaper prices.
For botnets, obviously the is no need for price consideration when it comes to selling - they make profit at any rate.
This might well be what the current reality is, if we look at the infrequent trading volume that tends to spike out of nowhere:
Whereas in the peak period the trading volume was spread quite evenly between all hours of the day.
In Conclusion
The current Primecoin market is dominated by a few big XPM holders and speculative buyers.
But we shall see some changes very soon, when a working GPU miner comes out, which will certainly even out the playing field for everyone.
Dus tot he difficulty machenics of Primecoins, higher mining power means higher difficulty, which results in fewer XPM rewards per block. And because Primecoin has dynamic difficulty adjustment that changes on a per block basis, it means Primecoin will become a lot more scarce then it is now.
The question is...
How well will Primecoin be received by the GPU community?
Based on this thread, the interest seems to be astronomical.
Also, considering that fact that Litecoin has become increasingly hard to mine, and all the other altcoins really have no true innovation or future, besides pure hype and speculation, Primecoin is the only one at the moment to fill that gap for large and small GPU rig owners.
http://ecoinomist.com/xpm-primecoin-price-bottomed
Ever since Primecoin has been on exchange, we have seen quite a radical price swing from as low as 0.0019 to as high as 0.019 (x10 times fluctuation) just within the space of one week.
This is by the far the most profitable altcoin to date for speculators to trade with the typical price swing of 10-20% per day if sold/bought in the right time, with huge initial volume of trading that no other crypto has matched for such an early release stage.
So why has the price hit the floor recently?
Some possible explanations:
A)
While it's not profitable to mine with VPS, such as DigitalOcean or Amazon EC2 any more, the early miners like myself, who mined XPM in the first few weeks were able to mine at a profit even at the current exchange rate of 0.0061, mainly because the difficulty back then was way lower than now. But just like many miners, I saw a very rapid price increase x10 times just within the space of one week, thus suspected XPM might be on big exchanges like BTC-e soon. So I held on and did not sell much.
Now many VPS miners end up with a stash of XPM that they have paid hard cold real world cash for, which for some, due to economical reasons, they might have to sell some in order to recoup back the initial investment.
These are the kind of reluctant sellers, who would only sell just enough to cover his/her overhead -> thus we observe low volume of Primecoin trading lately.
The major Primecoin exchange mcxNow has hit the lowest XPM trading volume ever at ~170 BTC per day.
B)
The only people remain mining XPM right now are the botnets (zero overhead) and VPN operators who have access to server computers at much cheaper prices.
For botnets, obviously the is no need for price consideration when it comes to selling - they make profit at any rate.
This might well be what the current reality is, if we look at the infrequent trading volume that tends to spike out of nowhere:
Whereas in the peak period the trading volume was spread quite evenly between all hours of the day.
In Conclusion
The current Primecoin market is dominated by a few big XPM holders and speculative buyers.
But we shall see some changes very soon, when a working GPU miner comes out, which will certainly even out the playing field for everyone.
Dus tot he difficulty machenics of Primecoins, higher mining power means higher difficulty, which results in fewer XPM rewards per block. And because Primecoin has dynamic difficulty adjustment that changes on a per block basis, it means Primecoin will become a lot more scarce then it is now.
The question is...
How well will Primecoin be received by the GPU community?
Based on this thread, the interest seems to be astronomical.
Also, considering that fact that Litecoin has become increasingly hard to mine, and all the other altcoins really have no true innovation or future, besides pure hype and speculation, Primecoin is the only one at the moment to fill that gap for large and small GPU rig owners.
The problem is not enough volume.
Without real incentives (shops, stores, games,....) the price won't go up untill the rewards half 
but i'm going to keep on mining it, because it's a CPU coin, making it accessible for anyone
but i'm going to keep on mining it, because it's a CPU coin, making it accessible for anyone 
Pretty sure that the GPU miner for Primecoin won't be any faster. It's finding prime numbers, using basic arithmetic. This is what CPUs excel at.
That's still theory, Litecoin at the beginning also was thought to be exclusive to CPU only.
We just need someone like ckolivas to do it again
Pretty sure that the GPU miner for Primecoin won't be any faster. It's finding prime numbers, using basic arithmetic. This is what CPUs excel at.
That's still theory, Litecoin at the beginning also was thought to be exclusive to CPU only.
Pretty sure that the GPU miner for Primecoin won't be any faster. It's finding prime numbers, using basic arithmetic. This is what CPUs excel at.
That's still theory, Litecoin at the beginning also was thought to be exclusive to CPU only.
like anything - supply-demand. you need to bring new people into the market or make the existing buyers want more.
I can definitely see the inevitable movement of GPU number crunching power shifting from Litecoin to Primecoin market as soon the a GPU miner becomes available publically. It's just a natural order of economical distribution. Litecoin rose int he midst of Bitcoin's GPU mining fall, and so will Primecoin do to Litecoin. The only thing we've yet to witness is an Asic Scrypt miner to make that transition complete.
And since there will be many more people involved when GPU mining is possible, the demand will naturally rise due to more people involved with the coin. Just like Bitcoin, its price is only as high the the people holding are willing to sell at all.
Prices can be crushed down by a few hoarders and dumpers, but to rise consistently, it needs adoption rate in quantity.
like anything - supply-demand. you need to bring new people into the market or make the existing buyers want more.
I can definitely see the inevitable movement of GPU number crunching power shifting from Litecoin to Primecoin market as soon the a GPU miner becomes available publically. It's just a natural order of economical distribution. Litecoin rose int he midst of Bitcoin's GPU mining fall, and so will Primecoin do to Litecoin. The only thing we've yet to witness is an Asic Scrypt miner to make that transition complete.
And since there will be many more people involved when GPU mining is possible, the demand will naturally rise due to more people involved with the coin. Just like Bitcoin, its price is only as high the people holding are willing to sell at.
Prices can be crushed down by a few hoarders and dumpers, but to rise consistently, it needs adoption rate in quantity, and that's what will happen when GPU mining comes out.
like anything - supply-demand. you need to bring new people into the market or make the existing buyers want more.
Original article here:
http://ecoinomist.com/xpm-primecoin-price-bottomed
Ever since Primecoin has been on exchange, we have seen quite a radical price swing from as low as 0.0019 to as high as 0.019 (x10 times fluctuation) just within the space of one week.
This is by the far the most profitable altcoin to date for speculators to trade with the typical price swing of 10-20% per day if sold/bought in the right time, with huge initial volume of trading that no other crypto has matched for such an early release stage.
So why has the price hit the floor recently?
Some possible explanations:
A)
While it's not profitable to mine with VPS, such as DigitalOcean or Amazon EC2 any more, the early miners like myself, who mined XPM in the first few weeks were able to mine at a profit even at the current exchange rate of 0.0061, mainly because the difficulty back then was way lower than now. But just like many miners, I saw a very rapid price increase x10 times just within the space of one week, thus suspected XPM might be on big exchanges like BTC-e soon. So I held on and did not sell much.
Now many VPS miners end up with a stash of XPM that they have paid hard cold real world cash for, which for some, due to economical reasons, they might have to sell some in order to recoup back the initial investment.
These are the kind of reluctant sellers, who would only sell just enough to cover his/her overhead -> thus we observe low volume of Primecoin trading lately.
The major Primecoin exchange mcxNow has hit the lowest XPM trading volume ever at ~170 BTC per day.
B)
The only people remain mining XPM right now are the botnets (zero overhead) and VPN operators who have access to server computers at much cheaper prices.
For botnets, obviously the is no need for price consideration when it comes to selling - they make profit at any rate.
This might well be what the current reality is, if we look at the infrequent trading volume that tends to spike out of nowhere:
Whereas in the peak period the trading volume was spread quite evenly between all hours of the day.
In Conclusion
The current Primecoin market is dominated by a few big XPM holders and speculative buyers.
But we shall see some changes very soon, when a working GPU miner comes out, which will certainly even out the playing field for everyone.
Dus tot he difficulty machenics of Primecoins, higher mining power means higher difficulty, which results in fewer XPM rewards per block. And because Primecoin has dynamic difficulty adjustment that changes on a per block basis, it means Primecoin will become a lot more scarce then it is now.
The question is...
How well will Primecoin be received by the GPU community?
Based on this thread, the interest seems to be astronomical.
Also, considering that fact that Litecoin has become increasingly hard to mine, and all the other altcoins really have no true innovation or future, besides pure hype and speculation, Primecoin is the only one at the moment to fill that gap for large and small GPU rig owners.
http://ecoinomist.com/xpm-primecoin-price-bottomed
Ever since Primecoin has been on exchange, we have seen quite a radical price swing from as low as 0.0019 to as high as 0.019 (x10 times fluctuation) just within the space of one week.
This is by the far the most profitable altcoin to date for speculators to trade with the typical price swing of 10-20% per day if sold/bought in the right time, with huge initial volume of trading that no other crypto has matched for such an early release stage.
So why has the price hit the floor recently?
Some possible explanations:
A)
While it's not profitable to mine with VPS, such as DigitalOcean or Amazon EC2 any more, the early miners like myself, who mined XPM in the first few weeks were able to mine at a profit even at the current exchange rate of 0.0061, mainly because the difficulty back then was way lower than now. But just like many miners, I saw a very rapid price increase x10 times just within the space of one week, thus suspected XPM might be on big exchanges like BTC-e soon. So I held on and did not sell much.
Now many VPS miners end up with a stash of XPM that they have paid hard cold real world cash for, which for some, due to economical reasons, they might have to sell some in order to recoup back the initial investment.
These are the kind of reluctant sellers, who would only sell just enough to cover his/her overhead -> thus we observe low volume of Primecoin trading lately.
The major Primecoin exchange mcxNow has hit the lowest XPM trading volume ever at ~170 BTC per day.
B)
The only people remain mining XPM right now are the botnets (zero overhead) and VPN operators who have access to server computers at much cheaper prices.
For botnets, obviously the is no need for price consideration when it comes to selling - they make profit at any rate.
This might well be what the current reality is, if we look at the infrequent trading volume that tends to spike out of nowhere:
Whereas in the peak period the trading volume was spread quite evenly between all hours of the day.
In Conclusion
The current Primecoin market is dominated by a few big XPM holders and speculative buyers.
But we shall see some changes very soon, when a working GPU miner comes out, which will certainly even out the playing field for everyone.
Dus tot he difficulty machenics of Primecoins, higher mining power means higher difficulty, which results in fewer XPM rewards per block. And because Primecoin has dynamic difficulty adjustment that changes on a per block basis, it means Primecoin will become a lot more scarce then it is now.
The question is...
How well will Primecoin be received by the GPU community?
Based on this thread, the interest seems to be astronomical.
Also, considering that fact that Litecoin has become increasingly hard to mine, and all the other altcoins really have no true innovation or future, besides pure hype and speculation, Primecoin is the only one at the moment to fill that gap for large and small GPU rig owners.
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