The volume for the past 24 hours is 2.82 BTC. The total marketcap of TRUMP currently is a little over 16 BTC. Looking back on the volume TRUMP had during it's pump, it's easy to surmise that a significant # of TRUMP coin is being traded back and forth. These are not miner dumps. These are traders, IMHO.
We're saying the same thing
Smart miners are caching their coins into exchange wallets right now to create buffers between what they do and what you do. They aren't dumping them yet.
Miners know the difference between dumping and dumbping.
The standoff between miners and traders can be observed with some really simple math.
Current Miner Rental Stats:
Block: 12468
Difficulty: 75
Coin count: 4,117,000
Mining cost: 0.42 BTC/GHS/Day
Est Coin Return: 128,663.987 TRUMP/GHS/Day
Mining cost per coin: 0.00000327 BTC
Market floor at Coin Return Depth: 0.00000167
Mining profit per coin: -0.00000160
So cost is a little cheaper today and profit rose slightly but still negative and not profitable mining.
When profit per coin rises above 0, you will start to see mining dumps ramping up. When profit per coin nears the double mark of the raw cost, you will see very steady heavy dumping. That is the point where competition for hashes switches to competition to exchange.
Yesterday's raw cost was around 500 sat/coin. Today's is down to 327. Today's tipping point is 700.
Believe that every day, many times a day, miners are snapshotting these statistics. But current statistics are really just an entry point.
Miners with larger caches that have been at it for a bit and/or run private rigs, have cheaper exchange points at very high volumes.
250 TRUMP x 720 blocks per day = 180000 TRUMP x 0.000004 BTC = 0.72 BTC of daily buy volume needed to support a price of 400 satoshis. A measly 0.72 BTC per day if all the coins were being dumped.
Our math roughly aligns. Mine is just from a miner's perspective and yes, does fluctuate with rental demands and a plethora of other factors. Both perspectives, yours and mine, tell the future when looked at together.
What I'm showing you is that truly invested miners will not be dumping on that 400 mark because even if that price had a wide enough floor to support a large dump, it would be a loss after exchange fees.
So I suppose price suppression by traders is sensible if traders want to maximize their profits at lower price floors. I totally get that. But by doing this, traders are shorting miners on coin production costs and forcing many of them to mine at a loss, effectively creating a Ponzi in the market built around unfair trade and market manipulations and bag holders. This is why they dump. They have to. It's the Us or Them mentality. Some will be patient and hold their caches until, as it has been said, weak knees shake. But some very smart miners are lurking in the background waiting to dump their caches. They don't care about the traders because the traders don't care about them. They will suppress back when the tables turn.
The tables always turn. Always.
EDIT: I just want to point out that I'm not attacking this coin. I believe what I am saying applies equally to most alts out there. Our current situation is very common.
