I tend to agree with the anti mining sentiment on this. Look at a similar coin, Evergreencoin.
It was in the doldrums forever until it went pure POS and then it rallied hard and has settled at around 4000 sat.
The endless selling pressure on Coexist has been rather brutal. I have personally brought it over 100 on more than 5 or 6 occasions last month and the month before and it is sold into slowly..
Just a constant slow bleed out. I for one vote on the coin going pure POS as to allow it to find it's feet. At the onset it was sold to the original IPO crowd for 250 sats. I haven't seen any big block sales at all.
Just a slow malingering pressure of 100% of the mined coins sold everyday. It kills any new buying confidence..
Yes, this is pointless and hopeless.
Its now spread to 4k adresses.. thats a nice spread. Further mining will not spread it further.
Block halving is in 49ish days.
I actually think thats too much. Also i dont think the halving is enough. It will still be as relentless, just half scale. And i think COXST has taken enough beating from the bots at zpool.
Heres my 2 coxst:
The meaning and point of the mining phase was to spread the coins to many wallets and give everyone a chance to get some.
The vision of the coin is to help those in need. And those people are NOT miners. Continued mining will just keep pushing the price and value if each coxst lower. They way this coin can help those in need is by
DONATIONS.
But the continual hammering on the price makes the donations less worth too.. so its a lose lose situation.
Lets hand the coin over from miners market to the traders and holders market.
That means go full POS.
Without the mining its much safer to buy a bag of coins without the same guarantee of price beeing hammered down.
With POS mining you give buyers and holders a reason to buy.
By investing in POS COXST you get 2 things:
*the continuos pos payout
*the likelyhood of a price going up as more and more buyers try to fill their bags fighting for the price.
If you want your coin to get attention .. nothing does it like a market boom and blossoming green prices.
If COXST went FULL POS, id personally probably get a million or 2 more coxst myself, as i believe this coins will be around for a long time.
You make a great point there. I am putting together some options. My only concern is security.
Whats your opinion on making POW not worth mining. I would mine it for charity. Over a years worth it would add up. But daily would be like pos if not less.
Just throwing ideas out there.
If you want to mine for charity, you should still mine the most profitable coin, and trade it for the one you want.
Why mine 2000 COXST for charity if you can mine ETH, and sell it for 5X more COXST? That would be 10k for charity (random numbers)
By making it not worth mining i meant slaughtering the pow reward so much that its .. not worth mining.
But that could change with price.. if price goes up 1000% ... it would be worth mining those 720 COXST(if pow rev. 0.5 pr block)
But if that opens a security risk, id suggest finishing POW all togheter.
27 million COXST mined should be enough for coin supply.
The next challenge is making them worth something.
The constant bleeding to miners will hammer the price down to nothing.
You see once me and LeChuckDE stopped buying, it quickly becomes a red dumping ground again.
Already lost most of the value gained in our pump.
300 range --> 70 range in a week.
Make it pure POS and who knows where the sky is.
It would guaranteed turn the downwards death spiral into an upwards flight to the sky.