Where are you getting the 280 coins per day per mh? I'm mining with 5mh on xhash.net right now and the pool estimates I'll make 7.5 coins per day. I suspect this estimate is wrong, but how do we go about calculating it?
^ What that guy says I am getting same estimates mine just went up to 8 per day.
So what is the point of mining at the early stages when diff is low? Since the blocks target with network hash, wouldn't it be better to watch the coin and see if it takes off since we are mining peanuts right now, compared if alot of network hash actually drops on the network?
The whales I know were caught off guard as well. They wanted cheaper coins well we all got them now. Its just a matter of time before one of them is full and decides he wants to cash in.
With block rewards of 50 there was not much advantage but it was there. That was a good idea capping the block reward to 50 or else every one would be really crying!