Bitcoin Forum

As far as I understand it, their new community-driven Multipool will slowly kill 'mining-profitable' alt-coins: by mining those alt-coins and selling them, reducing those prices.  Meanwhile, Blackcoins will be purchased from the Exchanges, thereby increasing it's own demand and value.

For other coins to survive, they'll need to drastically up their dev & marketing skills, community spirit, and while also offering something new (NXT ticks all these boxes).  Meanwhile the already existing PoS coins are now also in a race to implement their own coin-focussed Multipools.

Finally some excitement in the Alt-Community!

Disclaimer: I've investments in NXT, NEM, Exocoin, ECC, MINT and BC; currently mining DOGE & ECC :)

Or coins getting slammed by the pool are 51% attacked fork and dead.  So you get 0 payout in BC for the day.  This is like a gang war, doge will have it's own multipool and so on...  This is not a good development.

The pool operators said they are working on coins that have sufficient buy support. (at least for the day :D)

Is BitcoinExpert behind this?

Everybody thinks this will have some limitless ability to lift blackcoin all the way to BTC parity. It will help for a little while sure, then the electric bills will come in, BC will crash and we will all move on to Blitzcoin or some other one week open mining crapcoin.

I also agree this idea won't work long term. Why would you use this multipool instead of Middlecoin or Wafflepool for the real thing that actually has a chance at adoption? all you are going add are more trading costs to get back to btc. Sure fueled a nice pump though.

So you want us to mine shitcoins, sell at a loss, then buy BC at an inflated rate? Yah, you make a whole lot of sense.

Well, before they can buy bc they need to take the shitcoin and trade it for btc then to bc incurring 2 trading fees. It makes more sense to mine with a multipool that mines shitcoins for btc, then you get a choice whether/when to buy bc. I think the idea was stupid from the beginning, not sure how to explain the enthusiasm shown by the current pump.

The whales aren't done yet pumping. I keep watching the top BC wallets grow and shrink buy millions of coins each day. One wallet grows to 4 million BC, then drops to drops to 1.5 million. Later in the day it is back at 3 million. The link below is the blockchain explorer for the top 100 wallets.

http://agran.net/bc_getbalance.php?top=100

I don't think most people realize the implications of this. ALL POW coins are in the line of fire by this and I love it. In fact, looking ahead long term after it kills off all POW shitcoins is it actually possible that the crosshairs could be set on Litecoin and then......? Maybe not as far fetched as you might think, either way, it's a big fucking deal!

I completely agree with you on this. I just see this pool as the laziest, most expensive way to gain BC. It's nothing more than Middlecoin pool for BC. 

Maybe I need to understand the economics a bit better but what difference does it make whether people mine and dump shitcoins for Bitcoin than dumping for Bitcoin and buying BC? It's really no different at the end of the day. I think it is pretty much understood by most of the community that most coins that pop up on "most profitable" status on coinwarz are destined for death anyway.

Buy Support for BC will prop the price up! The higher the hashrate on the multipool the more BTC being used to buy BC.
Think about it, theoretically if middlecoin decided it was only going to payout in BC you would see 100-200BTC being used to buy BC every day. Think about what that could do in theory! Ofcourse this is all until ASIC turns up!

Don't get your hopes up, this is probably just the exchange moving between hot and cold wallets. Most of the top balances are probably exchange wallets. Each exchange can have any number of wallets really.

Most multipools are trying to create maximum profit, while this one is intending on crashing the price of the coins we mine. By using this pool, you will be selling your coins for the least profit, they buying into a coin that is being pumped heavy. You have no control over what price coins will be sold, BC will be bought, and what time the BC will be bought. If you mine in a pool that you can pull your coins out of and sell at your own will, you will be in control. You can sell your shitcoins at a peak and buy your BC during a crash. The question is, who do you want in charge of your finances?

What do you think all the multipools are doing already? BC multipool is just spit in the ocean of multipools mining POW shitcoins and dumping for btc, and when the newbs realize how stupid it is to blindly trade btc for BC the hash will plummet, everyone will try to cash out of BC and the bubble will burst and there will be much crying and butthurt to go around.

I am speculating a little bit, but most of those top wallets have been up since before BC was on an exchange. Everytime I see the price drop, a few of those wallets go up in value. My assumption is that the price drops when these guys are done playing for the day. If they are cold storage wallets, I can't believe there is that many people leaving their money on exchanges still.

Well I think the reasoning is since BC is no longer being minted, it's considered a safe place to invest your BTC into it and you could stand more to gain from taking your few bitcoins and investing in a new and growing coin that could be taken to new heights.

It's no different than people using their BTC to buy Litecoin on the assumption Litecoin will be .1btc someday and they will make more in the end through owning a higher number of Litecoins than Bitcoin. Add in all the buyers like myself who don't mine but are tired of being dumped on by multi-pools, you got a winning combination.

For that to happen, the sell orders of blackcoin would have to total more than 55 BTC per day at the current hashrate. It could happen, but that's clearly not the trend we are seeing not. Sell orders are down and hash is going up.

I never really considered those that don't mine. A pool like this can manipulate the price in the buyers favor. The biggest difference between the buyer on an exchange and the miners in this BC pool, the miner has zero control, while the buyer gets to make their own decision. I would rather lose my money on my own that than leave it up to a pool with a get rich quick scheme.

Translation: Im a huge bagholder of POW coins and about to take it hard in the pooper. It doesn't matter if you like it or not, it is happening so you might as well plan for the implications.

The BC multipool needs to result in at least as much profit as other options for miners to stay. If they are making a few hundred coins with 3 mh/s, for instance, this pool won't last - it all comes down to this. Why would bc be a better bet for the future than btc? this coin's value is based on pure speculation, much of btc value is based on the ability to go mainstream.
I think bc is a crash waiting to happen, but since i've been wrong about it up to now I'm certainly entertaining the possibility I'm wrong again. However, I wouldn't go near the current value with a barge pole - maybe when it goes back into the 3's I'll try again.

Where did I ever defend any POW coin? I'm calling out this pool as a get rich quick scheme for lazy people that have no clue about economics. I also thank the developer of BC for creating a coin that made me 2500 dollars off of 8 days of mining. It was just one more coin to dump.

you missed your chance. you will never see 3k again.....

It's OK we can just copy and paste the source and have a new blackcoin with a different name and we can start this all over. It's a bubble.

I've been playing with some of these types of multipools.  I think they're good for die-hard followers of a certain coin that is not BTC who do want to spend the time trading their BTC manually.  In theory, you get that done for approximately the same fee structure.  So you do gain value by these pools.

Hah well I think most coins are get rich quick schemes, Bitcoin got a lot of people rich quick and its economics make little sense to justify its market cap at this point, this is uncharted territory we're all in.

"you missed your chance. you will never see 3k again....."
Did I miss a big pump? yeah. Did I miss 3k coins? doubt it, wouldn't be surprised to see them wi/ 48 hours. Hell the 5s were touched just a few hours ago, but if you want to believe this coin is above your typical pump/dump shitcoin go ahead.

There is 2 lines of thought for Blackcoin


1) this coin is going up, I will buy and hold till it hits mainstream and the potential to make 100x my money

2) this coin is going up, however there are people with a ton of coins that will periodically sell and drop the market. I will sell the the same time or at high points with the hopes of accumulating more coins for the same investment.



Result >>>

1 ) almost no risk, but limited reward besides simply buying new coins.

2 ) much more risk, you may end up behind the market and giving up profit with the hops of accumulating more coins. IF you're quick you could make some good returns over 1 or you could make way less.



Either way, with no additional supply of coins, multipools becoming more stable, adding hashes and Blackcoin getting more visibility everyday, it is not a coin I will be left wondering "what if" on.

Good luck too all with whatever you pick. This is a coin-killer, don't be on the wrong end of it.

1)  The assumption is that the infrastructure is lagging behind the commodity but will be accomplished eventually.  

2)  It's not about Bitcoin being the best system on the planet, it's about the other options being even worse of a choice.

Just a thought. Future coins that could go this same route. ECC, Mint, Ghost, Zeit, EBT, as well as others but my favorite candidate Blitzcoin if it is ever released lol.

The pessimism here is totally uncalled for. First of all, Blackcoin has resisted any major dump since the multipool and has seen increases on days when every other coin in the market was down.

Second of all, Blackcoin pool is nothing like buying bitcoin with shitcoins because bitcoin is mined all over the world miners constantly dump new coins on the bitcoin market!!!
Millions of dollars a day are dumped on Bitcoin. Imagined if only 2% of those miners were mining/pumping Blackcoin.

BLACKCOIN has already been mined thus, making it rare. It makes it impossible for miners to dump new coins on the market! So regardless of your feelings on the subject all this needs to do to make a profit is simply for the pool to continue its course. Its already popular, it forces volume (.5 million a day) just to keep it down and that wont last once more miners join the pool.

Other coins cannot do what blackcoin is doing because they have not finished their mining process so the money is constantly dumped on them. Also GPU miners will want
a way to compete with ASICs and therefore they may look to the Blackcoin multipool since it leverages their old video cards.

In theory, Proof of Stake is superior to Proof of Work and Blackcoin is like peercoin but it has a superior community. It also has this genius multipool.

For the people who think its lazy its not at all!! Why dont people buy altcoins directly? Out of fear that there will be a dump. But Blackcoin is a CONTINUOUS COORDINATED PUMP!!
So who cares exactly what time each coin was bought... your Blackcoins are worth more than they were before. This raises the perceived value and will eventually compete with other coins.

Remember, EVERYONE IN THE POOL PUMPS THE COIN. No other coin can claim anything close. Investors usually pump+dump solo but imagine if they all worked together. Thats what this pool is doing and its doing it at the expense of a bunch of BS coins that nobody cares about. Destroy the stupid clone coins! People who spread FUD are probably admins of their own dumb clones and are afraid of Blackcoin actually getting more popular than it already is.

Also, if Dogecoin can make it, then Blackcoin certainly should destroy Doge. Litecoin is a passing fad. Scrypt doesnt matter anymore. So Blackcoin is the only interesting thing
in Crypto right now!!

Arent we all here to make money?? Anyone who thinks differently is fooling you.

Blackcoin will SMASH other coins if the pool keeps increasing in popularity!!! Why? Because its a leech, a BLACK HOLE taking value out of other bullshit coins and putting the
value where it belongs. It belongs with the investors and miners! Other coins have the weakness of mined coins being dumped on the market daily. But not Blackcoin, it takes coordinated mining effort to pump the coin instead of dumping on it. Its a value coin!

Also, its faster than Bitcoin, it resists 51% attack and the wealth is very EVEN. Bitcoin is not even at all (Satoshi?! Who the hell is he? When will he unload his coins?)... Mtgox and they gazillion they stole?

Blackcoin is f#%!ing awesome! I love their ideas and hope they market the heck out of it!

All I know is, if I had a massive mining rig, I would mine this coin since if other miners join me, everyone involved gets filthy rich! There is millions and millions of dollars we can suck out of DOGE, Litecoin and Bitcoin!!! Lets do it. Lets bring this sucker to the ground and make some money!

To reiterate: Other coins cannot do what Blackcoin is doing because they are actively being mined themselves. So any increase in value (with ghostcoin for example) will cause
an immediate dump from miners who mine it directly. Other coins cant do what they are doing. Also, the miners wont mine with another coin because they will support the most popular originator of the Black Hole mining pool!!

If you are a miner reading this: Mine this coin!! Just do it. And get your friends to mine it. You will not regret it. Instead of dumping coins on coins that already get dumped on (including bitcoin)... instead pump the coin you mine.

lol, so eventually there will be no BC for sale at any price, infinite value in the illiquid market.  It'll be a race for the exits when the first person blinks. 

lol, gone like a fart in the wind

766btc volume what are you talking about......

ya the price is down but so is 99% of every coin atm so go home your drunk  :-*

What I'm reading is the payouts are shit, like I said earlier if the profit isn't there bc is going down.

Too impatient, my friend. It takes time to get through growing pains...

mark my words..there will be tons of ppl will get burn due to the manipulation of BC instaminers.