Yes - I was wondering why would you be stupid and mine this much EXP at a loss over the economics of mining ETH?
But there is a "smart" explanation.
The explanation is thats its a determined move to crash the price of EXP to destroy ETH competition.
This miner is solo mining.
He is NOT mining in a pool. For example:
Block Height 212962
Block Hash 0x1782e9f81823344ca9acb5b59c2eea93f684cee41bbac6c960bbca0e5f5c550d
Time 2016-04-09 21:20:24 (2 minutes ago)
Nonce 8413797111271779000
Difficulty 3025731733575
Size 656 bytes
Parent Hash 0xc30cb7769141edbd4b52809906c378780565c7f950033014eaff88d80f369b1e
Uncles Hash 0x1dcc4de8dec75d7aab85b567b6ccd41ad312451b948a7413f0a142fd40d49347
Miner 0x55dde0ec55419eafff7e02180ec473207d8252bc That address has mined over 6700 blocks so far and heading back into the RichList for a dump again in a day or two.
He has no doubt been a big ETH miner before he set this scheme up - only a month ago.
This is when the address was set up - and a test 1 EXP was sent to test the chain through to Polo.
http://www.expanse.tech/explorer/tx/0x745f660663fc584129d5d8a0758a517e3ddbae2e5033cccb8da56d899f4ea0b7http://www.expanse.tech/explorer/tx/0xc310844fa02e5381ea521526bf789f3df0dc4568dc62cd8d65f9cdda4f92783fPolo address:
Account Hash 0x342709de12f503a689efa9671532a72e19a9bbc7
Account Name Poloniex
My bet is that hes an ETH supporter (or even supported by Ethereum) to crash ETH competition.
Maybe I am too inclined to conspiracy theory and he is just not very smart?
But I don't really think so. Any miner with this much hash can usually figure out the best options to make money.
Who's funding their loss - and if its not funded - whats the motivation?
Of course the next question we need to ask is - Are there any other large miners (or the same miners using different addresses) out there doing the same thing?
I have had a quick scan and the good news is that I can't see any other significant solo miners showing the same patterns as Miner 0x55dde0ec55419eafff7e02180ec473207d8252bc
That does not mean to say some of the major miners on Pools could not be part of the supposed scheme.
stv100 with 150 EXP per day on suprnova is small compared to this solo miner averaging 1600 EXP per day
Any pool miners doing this volume would stand out like a "meerkat in the arctic"
Of course - there is a big positive in all of this.
If you have the gonads to buy EXP amidst this skulduggery
There are a lot of EXP for sale at artificially low prices
Prices that are probably cheaper than actually mining them especially considering capital costs on top of the power costs.
So the loss by the miner here can actually be the advantage of the courageous buyers.
That being said - I will to Polo go and continue my accumulations with hope that the price keeps decreasing........
and whats his point on dumping? i mean if he wants btc... why doesnt he mine eth, its more profitable nowadays.
Yeah, not the most profitable move.