There seems to be a lot of anger towards multipools and profit-switching pools. Most people seem to ignore that PoW (so, mining), accounts for just a tiny/miserable fraction of the daily trade volume on coins with any meaningful reach of success.
To say that dumping mining rewards kills a coin, is to say that such coin bears no significant value beyond that of the mining process. So is the coin useless, or has no merits at all to drive demand? If so, by all means, dump it to death please.
Also commonly ignored, is the fact that PoW mining is a service to that coin's network. It is this service that ensures the security of the network (without which, double spending, etc etc...). Like any other service, it should be adequately rewarded. If a coin economy cannot afford the balancing act (and cost) of maintaining a secure network (in other words - absorb it's mining costs) again, by all means, dump it to death please.
I'm not saying all coins should simply be dumped upon and that all are shitcoins (though most of them should & most of them are
), but just that mining cannot be the focus or measure of any one coin's success. The focus should be on utility, demand, adoption, innovation, well... The forever pursued "real world value"...
Do you believe in a coin, do you think it has merits and want to hold on to it, for whatever the future might bring or for the speculative exercise? Mine some, buy some, and hold them. It's all very much the same.
If you do not believe in any particular coin, and mining is just a (fiat/btc?) revenue opportunity, then go right ahead and point your hashes at whatever rental service, profit switching pool, or gamble on the coin-du-jour launch...
For those with the necessary time & energy, research some more. There's usually better profits to be had.
Oh well, I figure I'm not on the popular side of this discussion
Happy mining!
Show Posts
