Merged mining for Viacoin is not only providing a secure hashrate, but in my view it also brings sustainability and a fair market price.
Mining, or merged mining, does not make sense at the moment.
When, mining leads to unprofitable rewards for miners, it is hard to convince them to keep mining.
I agree, when mining leads to unprofitable rewards, that it is hard to convince them to keep mining, but that will only result in a general lower network hashrate.
Which makes it profitable again, with less equipment.
And what is the power of merged mining?
Miners don't lose any of their hashrate on Viacoin, because of the merged mining.
If Viacoin was NOT aux-pow it was not profitable at this point, because the daily coin generation is around 140 coins.
Which is roughly: $40,00 a day.
But look at the hashrate, it is around 50 Th/s.
Someone who mines Litecoin for instance, why they should not mine Viacoin at the same time?
It will only maximize their profits with zero extra costs.
That's why merged mining in my eyes is not only sustainable, but also has a fair market price that is not controlled.
And you also said: Mining, or merged mining, does not make sense at the moment.
What makes sense to you?
If proof of stake is your ideal world, than i can tell you, that you believe in fairytales. (and this is my own honest opinion)
Proof of stake is heavily centralized, early investors, are making the supply WITH ZERO INVESTMENT, and the rest buy their to expensive coins, well and than they tell you, yes but at our blockchain you get 5% extra income.
Those same people will tell you fuck the banks, be your own bank.
While they are in fact the 1% and have the printer running. like a money faucet.
And when i decide to invest in proof of stake, than i look yes, for 250 dollars i have let say 250 coins.
250 coins + 5% than i get 12.5 coins for ONE YEAR RUNNING MY COMPUTER FULLTIME. ( how green is that, and is it profitable?)
While the early investors:
1. bought their coins for very low prices
2. when they have 500000 coins they get 25000 coins per year for free
3. they have a basic income with zero costs and effort
4. they control the price and when they decide to hold their coins, the generation is much more because they get that 5% on every coin that is freshly generated.
Same for masternodes, really nice what they all tell, but it is not for me.
Look at dash or whatever, yes really nice coin, great all so great, i decided that i want to contribute to the network, now let see what do i need, oh a masternode, and how many coins do i need? 1000...... that's $60,000, so even when i wanted to contribute to the network, the rule makers of that specific blockchain made it for me impossible to help.
And why should i invest 60000 dollars in dash for instance if i can buy mining equipment for that same amount of money? than i am not attached to one blockchain?
POW AND AUXPOW DONT HAVE THESE PROBLEMS.
When coins are sold, they are sold, not as with pos, well i sell these coins and the next week i have the same balance.
SOLD = SOLD - NO FREE COIN GENERATION
That's why i see proof of work as one of the fairest systems, you have the miners who needs to invest in their equipment and have electricity bills to pay etc.. and you have the people who invest in the currency itself, and hold the coins in the believe that the coin will be more worth in the future and only generate fiat when the price is going up.
I was in search for a cryptocurrency that really fits in my view.
And Merged mining came the closest.
If i invest in something which i do not believe in..?
Than what is the point of investing?
