XPM MINERS STOP SELLING YOUR COINS FOR CHEAP!
I know people want to see a profit now and get some BTC but that is such a short-term view. If they hold now the price will rocket. This is a surprisingly fresh coin with a new PoW and is making a lot of public noise. For those reasons it should be worth a lot more than it is now.
I for one sold a few coins early to cover some costs but right now I'm buying up anything under 0.003. Anyone stupid enough to sell to me for under that, I'm a happy to take them from you. In a few months time XPM will be at least 10 times that.
+1 and +1
+2
+2
It's really undervalued right now!
...maybe it is - maybe it is not.
But I believe in crypto coins in general and in primecoin especially as I find it hugely attractive to have a crypto coin that does not only transform electric energy to thermal energy but that generates scientific knowledge as well
So basically I want to agree to the statement "XPM MINERS STOP SELLING YOUR COINS FOR CHEAP!"
Here is the explanation of the "technical part" of my statement:
This brand new Proof-of-Work concept will attract lots more miners (at least I think so). And most of them will be interested in the idea of generating fiscal value (coins) or generating scientific value (cunningham chains) - where some might be more interested in the fiscal value, some more in the scientific value.
An increasing number of miners and upcoming optimizations in code and optimized mining platforms (GPU/FPGA/ACIS)?) will lead to a contiuous increase of difficulty.
A rising difficulty lowers the chance for successfully generating new coins by a given person - what we expected already in the first days ot primecoin.
Here is the explanation of the "economical" part of my view:
In the long-term view this should push the price much higher.
If you want to have some (more) coins it will continuously be more attractive to pay a higher price at an exchange than to try mine some on your own.
This mechanism could have been seen on lots of coins, especially well at Bitcoin and Litecoin.
...although most time it needs an amount of time for the priece to follow the raised difficulty.
AND there are lots of other aspects that have to be taken into consideration.
But if you limit the view to the relation between difficulty and price, you might come to the conclusion that rising difficulties lead to rising prieces.
...given that people want to have some coins
I don't want to name a price that will be reached by coin x at point of time y, but I believe that at some point of time in the future the price of 1 XPM will be higher than it is now
And who knows whether the price will be named related to BTC, LTC, USD, EUR or whatever :p
For the record: actual XPM price (2013-07-14, 13:27 UTC+2 at
http://www.coins-e.com/exchange/XPM_BTC/) is ~ 0.003 BTC = 0.00008835 LTC = 0.285 USD = 0.22 EUR
Let's have a look at that in the far future.