For any general cryptographic currency mining is profitable in three circumstances:
1. As a consistent service offered, choosing the optimal time to sell percentages of the currency you are mining
2. Occasionally if you are an investor in the currency who has determined that it will be cheaper to acquire what you want by renting hashing power rather than buying on market
3. As an exploiter of new currencies (stealth launches) or by catching the a low difficulty AND low network hash of currencies with a quick coin maturation.
For Bitmark:
1. as above
2. as above
3. NO - cannot be done, we are neither new nor do we have a quick coin maturation, nor is our network ever low difficulty AND low network hash at the same time.
We have crafted bitmark in such a way to make 3 impossible.
If you are a miner then you have one profitable option, to mine as a service and choose the optimal time to sell some of what you mined.
If you are a consistent service miner, and you are frustrated by large difficulty changes, the only way to prevent them is to stay on the network and be consistent. If you remove hashing power then the difficulty will drop lower and the cycle of diff changes will have a greater negative impact on you, the only way to break the cycle and limit the impact (and earnings / incentive) of misinformed category 3 miners, is to be consistent.
Finally, I repeat again, those who mine consistently over long periods of time always have the lowest average production cost, and therefore the most average profit. If you mine in any other way, inconsistently, you are doing yourself (only) a great disservice.
Hello.
From what I 've read here in this thread it seams you have implemented kind of egalitarian mining in this coin where centralization is avoided and any miner has a better chance to
participate in the mining or I am wrong?!
I'm not into mining myself because I have seen that usually big investment are required
to keep up with the "mining" race and have any returns at all if you don't join the mining pools
which at the end leads to centralization.
Also the current mining process in almost all coins is the same mining at low difficulty -> hype -> pumping -> dumping and the cycle repeats few times until the coin is dead and forgotten in few months so I have not seen any purpose in such coins except enrich the few (developers / miners) on the top of the chain.
Your coin seems to be different in that matter but don't forget that without
services accepting the coin the coin may not also survive long time.
Out of curiosity can you tell me what would be the minimum hardware
requirements to start solo mining as a service this coin and to support this coin long term?
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