rgsnedds
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August 22, 2018, 08:08:01 AM |
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And people haven't realised yet the potential of XDNA or the good cause of XDNA Foundation which is a philanthropic organization. Ofcourse we have yet to see how much of a help will the XDNA Foundation be to the world, but judging from my experience in the official Discord channel, the guys behind it seem very passionate and serious about it.
so what you are saying, that if I want to give away my money to charity, just mine XDNA? i have found that mining XDNA is only just break even for my vs electricity costs due to the slice of block rewards which go to masternodes.. so yes, mining XDNA gives me no profit whatsoever - i am presuming that the portion of masternode rewards which is given away is being donated to the foundation by masternode owners? or do they not follow this 'give it all away' ethic? to summarise, i'll feel better about myself by mining XDNA but make no profit for my mining expenses? right? |
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RivAngE
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August 22, 2018, 09:16:03 AM |
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And people haven't realised yet the potential of XDNA or the good cause of XDNA Foundation which is a philanthropic organization. Ofcourse we have yet to see how much of a help will the XDNA Foundation be to the world, but judging from my experience in the official Discord channel, the guys behind it seem very passionate and serious about it.
so what you are saying, that if I want to give away my money to charity, just mine XDNA? i have found that mining XDNA is only just break even for my vs electricity costs due to the slice of block rewards which go to masternodes.. so yes, mining XDNA gives me no profit whatsoever - i am presuming that the portion of masternode rewards which is given away is being donated to the foundation by masternode owners? or do they not follow this 'give it all away' ethic? to summarise, i'll feel better about myself by mining XDNA but make no profit for my mining expenses? right? Not exactly what I meant, but if you feel generous then sure!  What I meant was that investors (not miners) prefer to speculate on projects that offer nothing than speculating on a project like XDNA which at least offers 2% of mined coins for a good cause.  If the value goes a little higher, then HEX will become very profitable to mine, but unlike other coins it won't become unprofitable the moment the hashrate increase by 3 times! That's because of the BitGun system. The BitGun system is an interesting one, see why, - If the value of the coin falls, then miners leave - If miners leave, then the BitGun level falls - If the BitGun level falls, the total inflation falls (less coins are produced, so less coins can be sold) - If the inflation falls, the price will eventually rise or stabilize - If the price rise, miners will start coming - If miners start coming, the BitGun level will rise - If the BitGun level rise, then the inflation will rise - If the inflation rises, then the value will eventually fall or stabilize This system might prevent us from reaching moon during the PoW phase (PoS phase is another story), but then again I'm a realistic person and I don't expect anything to reach the stars. Having a stable price which hopefully will rise little by little and steadily is more important for investors. The "moon" thing is for kids with zero financial knowledge. TL;TD: BitGun might prevent extended periods of price rising, but it'll also prevent extended periods of price falling. |
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rgsnedds
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August 22, 2018, 09:18:27 AM |
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And people haven't realised yet the potential of XDNA or the good cause of XDNA Foundation which is a philanthropic organization. Ofcourse we have yet to see how much of a help will the XDNA Foundation be to the world, but judging from my experience in the official Discord channel, the guys behind it seem very passionate and serious about it.
so what you are saying, that if I want to give away my money to charity, just mine XDNA? i have found that mining XDNA is only just break even for my vs electricity costs due to the slice of block rewards which go to masternodes.. so yes, mining XDNA gives me no profit whatsoever - i am presuming that the portion of masternode rewards which is given away is being donated to the foundation by masternode owners? or do they not follow this 'give it all away' ethic? to summarise, i'll feel better about myself by mining XDNA but make no profit for my mining expenses? right? Not exactly what I meant, but if you feel generous then sure! What I meant was that investors (not miners) prefer to speculate on projects that offer nothing than speculating on a project like XDNA which at least offers 2% of mined coins for a good cause. If the value goes a little higher, then HEX will become very profitable to mine, but unlike other coins it won't become unprofitable the moment the hashrate increase by 3 times because of the BitGun system. The BitGun system is an interesting one, see why, - If the value of the coin falls, then miners leave - If miners leave, then the BitGun level falls - If the BitGun level falls, the total inflation falls (less coins are produced, so less coins can be sold) - If the inflation falls, the price will eventually rise or stabilize - If the price rise, miners will start coming - If miners start coming, the BitGun level will rise - If the BitGun level rise, then the inflation will rise - If the inflation rises, then the value will eventually fall or stabilize This system might prevent us from reaching moon during the PoW phase (PoS phase is another story), but then again I'm a realistic person and I don't expect anything to reach the stars. Having a stable price which hopefully will rise little by little and steadily is more important for investors. The "moon" thing is for kids with zero financial knowledge. TL;TD: BitGun might prevent extended periods of price rising, but it'll also prevent extended periods of price falling. yes, but you miss the point... 30% of my electricity bill is going to masternode owners and stagnant price of the coin = mere break even for miners. there is no real incentive to mine this, masternode rewards are too high. |
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RivAngE
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August 22, 2018, 09:34:22 AM |
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And people haven't realised yet the potential of XDNA or the good cause of XDNA Foundation which is a philanthropic organization. Ofcourse we have yet to see how much of a help will the XDNA Foundation be to the world, but judging from my experience in the official Discord channel, the guys behind it seem very passionate and serious about it.
so what you are saying, that if I want to give away my money to charity, just mine XDNA? i have found that mining XDNA is only just break even for my vs electricity costs due to the slice of block rewards which go to masternodes.. so yes, mining XDNA gives me no profit whatsoever - i am presuming that the portion of masternode rewards which is given away is being donated to the foundation by masternode owners? or do they not follow this 'give it all away' ethic? to summarise, i'll feel better about myself by mining XDNA but make no profit for my mining expenses? right? Not exactly what I meant, but if you feel generous then sure! What I meant was that investors (not miners) prefer to speculate on projects that offer nothing than speculating on a project like XDNA which at least offers 2% of mined coins for a good cause. If the value goes a little higher, then HEX will become very profitable to mine, but unlike other coins it won't become unprofitable the moment the hashrate increase by 3 times. That's because of the BitGun system. The BitGun system is an interesting one, see why, - If the value of the coin falls, then miners leave - If miners leave, then the BitGun level falls - If the BitGun level falls, the total inflation falls (less coins are produced, so less coins can be sold) - If the inflation falls, the price will eventually rise or stabilize - If the price rise, miners will start coming - If miners start coming, the BitGun level will rise - If the BitGun level rise, then the inflation will rise - If the inflation rises, then the value will eventually fall or stabilize This system might prevent us from reaching moon during the PoW phase (PoS phase is another story), but then again I'm a realistic person and I don't expect anything to reach the stars. Having a stable price which hopefully will rise little by little and steadily is more important for investors. The "moon" thing is for kids with zero financial knowledge. TL;TD: BitGun might prevent extended periods of price rising, but it'll also prevent extended periods of price falling. yes, but you miss the point... 30% of my electricity bill is going to masternode owners and stagnant price of the coin = mere break even for miners. there is no real incentive to mine this, masternode rewards are too high. Yes, which is why we need a little higher price which is not 100% in anyone's control unfortunately. I don't think that MNs are the problem though, if we had no MNs then there would be less ask for the coins and a lower price, therefore the mining wouldn't be that much more profitable. And... I don't know why you're break-even, are you mining with AMD cards? The last time I checked the AMD miner wasn't optimized enough. Also if you're using just 1 or 2 cards on a PC, then most algos are break-even or close to break-even because of ultra-low prices and too many miners. That's a universal problem. |
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rgsnedds
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August 22, 2018, 09:54:48 AM |
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And people haven't realised yet the potential of XDNA or the good cause of XDNA Foundation which is a philanthropic organization. Ofcourse we have yet to see how much of a help will the XDNA Foundation be to the world, but judging from my experience in the official Discord channel, the guys behind it seem very passionate and serious about it.
so what you are saying, that if I want to give away my money to charity, just mine XDNA? i have found that mining XDNA is only just break even for my vs electricity costs due to the slice of block rewards which go to masternodes.. so yes, mining XDNA gives me no profit whatsoever - i am presuming that the portion of masternode rewards which is given away is being donated to the foundation by masternode owners? or do they not follow this 'give it all away' ethic? to summarise, i'll feel better about myself by mining XDNA but make no profit for my mining expenses? right? Not exactly what I meant, but if you feel generous then sure! What I meant was that investors (not miners) prefer to speculate on projects that offer nothing than speculating on a project like XDNA which at least offers 2% of mined coins for a good cause. If the value goes a little higher, then HEX will become very profitable to mine, but unlike other coins it won't become unprofitable the moment the hashrate increase by 3 times. That's because of the BitGun system. The BitGun system is an interesting one, see why, - If the value of the coin falls, then miners leave - If miners leave, then the BitGun level falls - If the BitGun level falls, the total inflation falls (less coins are produced, so less coins can be sold) - If the inflation falls, the price will eventually rise or stabilize - If the price rise, miners will start coming - If miners start coming, the BitGun level will rise - If the BitGun level rise, then the inflation will rise - If the inflation rises, then the value will eventually fall or stabilize This system might prevent us from reaching moon during the PoW phase (PoS phase is another story), but then again I'm a realistic person and I don't expect anything to reach the stars. Having a stable price which hopefully will rise little by little and steadily is more important for investors. The "moon" thing is for kids with zero financial knowledge. TL;TD: BitGun might prevent extended periods of price rising, but it'll also prevent extended periods of price falling. yes, but you miss the point... 30% of my electricity bill is going to masternode owners and stagnant price of the coin = mere break even for miners. there is no real incentive to mine this, masternode rewards are too high. Yes, which is why we need a little higher price which is not 100% in anyone's control unfortunately. I don't think that MNs are the problem though, if we had no MNs then there would be less ask for the coins and a lower price, therefore the mining wouldn't be that much more profitable. And... I don't know why you're break-even, are you mining with AMD cards? The last time I checked the AMD miner wasn't optimized enough. Also if you're using just 1 or 2 cards on a PC, then most algos are break-even or close to break-even because of ultra-low prices and too many miners. That's a universal problem. only just break even with 600 x 1060's @ 11p / kwH (UK) |
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rgsnedds
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August 22, 2018, 09:55:51 AM |
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and now XDNA is on WTM.. even more miners are moving away to other coins. TBH i'm as well mining ETH, which i'd rather not.
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rapidtech
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August 22, 2018, 11:29:19 AM |
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and now XDNA is on WTM.. even more miners are moving away to other coins. TBH i'm as well mining ETH, which i'd rather not.
It's too difficult to find profitable coins to mine right now, if there is still one. For the past months, ETH is right there at the top of most BTC to gain in mining as compared to other coins. This market must improve soon or I'll be forced to shutdown my rigs. |
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rgsnedds
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August 22, 2018, 11:37:40 AM |
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and now XDNA is on WTM.. even more miners are moving away to other coins. TBH i'm as well mining ETH, which i'd rather not.
It's too difficult to find profitable coins to mine right now, if there is still one. For the past months, ETH is right there at the top of most BTC to gain in mining as compared to other coins. This market must improve soon or I'll be forced to shutdown my rigs. most coins are mere break even at the moment, and especially those on WTM are not even worth looking at. i'm looking at just mining minex (4cents profit per card per day) and putting it all into minexbank long term stake, in the hope that in a year time, prices of shitcoins will have rebound to decent levels. not powering off, not selling rigs - since 2009. |
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tazmako
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XDNA - Most innovative cryptocurrency in 2018
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August 22, 2018, 12:11:57 PM |
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and now XDNA is on WTM.. even more miners are moving away to other coins. TBH i'm as well mining ETH, which i'd rather not.
It's too difficult to find profitable coins to mine right now, if there is still one. For the past months, ETH is right there at the top of most BTC to gain in mining as compared to other coins. This market must improve soon or I'll be forced to shutdown my rigs. most coins are mere break even at the moment, and especially those on WTM are not even worth looking at. i'm looking at just mining minex (4cents profit per card per day) and putting it all into minexbank long term stake, in the hope that in a year time, prices of shitcoins will have rebound to decent levels. not powering off, not selling rigs - since 2009. wow you are real miner |
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RivAngE
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August 22, 2018, 12:17:53 PM |
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and now XDNA is on WTM.. even more miners are moving away to other coins. TBH i'm as well mining ETH, which i'd rather not.
It's too difficult to find profitable coins to mine right now, if there is still one. For the past months, ETH is right there at the top of most BTC to gain in mining as compared to other coins. This market must improve soon or I'll be forced to shutdown my rigs. most coins are mere break even at the moment, and especially those on WTM are not even worth looking at. i'm looking at just mining minex (4cents profit per card per day) and putting it all into minexbank long term stake, in the hope that in a year time, prices of shitcoins will have rebound to decent levels. not powering off, not selling rigs - since 2009. I hope you're not mining with the same rigs since 2009!  |
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rgsnedds
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August 23, 2018, 08:32:50 AM |
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and now XDNA is on WTM.. even more miners are moving away to other coins. TBH i'm as well mining ETH, which i'd rather not.
It's too difficult to find profitable coins to mine right now, if there is still one. For the past months, ETH is right there at the top of most BTC to gain in mining as compared to other coins. This market must improve soon or I'll be forced to shutdown my rigs. most coins are mere break even at the moment, and especially those on WTM are not even worth looking at. i'm looking at just mining minex (4cents profit per card per day) and putting it all into minexbank long term stake, in the hope that in a year time, prices of shitcoins will have rebound to decent levels. not powering off, not selling rigs - since 2009. I hope you're not mining with the same rigs since 2009! why not? CPU mining is quite good these days... most of my current profits are from CPU mining... |
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Thenewcrytoera
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August 23, 2018, 09:27:09 AM |
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The tech behind the coin is quite innovative. The devs are working on a new platform with the coin serving as a payment system. The bear market is visible, however, keep an eye on this one!
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winmon
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August 23, 2018, 02:17:13 PM |
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I recently got my masternode up and running, and think it's about the best thing to do.....no babysitting or handholding required, just sit and watch the incoming xdna!
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RivAngE
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August 24, 2018, 10:02:33 AM |
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We need some miners too though, not just MN holders.
The network hash used to be over 100GH/s and now it's just 25-35 GH/s , the diff is relatively low now!
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rgsnedds
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August 24, 2018, 10:24:27 AM |
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We need some miners too though, not just MN holders.
The network hash used to be over 100GH/s and now it's just 25-35 GH/s , the diff is relatively low now!
I am pretty sure i pointed out why this has happened.... |
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RivAngE
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August 24, 2018, 10:42:11 AM
Last edit: August 24, 2018, 10:52:51 AM by RivAngE |
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Okay I did some mathematical research and I came with the following numbers, During the algo change days when the only exchange available then (crypto-bridge) had put the XDNA wallet in maintenance because of the fork and was taking their sweet time to enable it, XDNA was trading on average around 0.55€ (my local fiat). With the BitGun level being 6, we had a total coin emission of 27,360 XDNA. At that price the total emission in fiat was 15.048€ daily The total emission in Bitcoin was 2.25802080 BTCWith today's data, we're at BitGun level 2 with a total coin emission of 7,200 XDNA. With today's price of 0.22€ this equals a daily emission of only 1.584€ The total emission in Bitcoin is 0.28584000 BTC dailyI understand that a lot of people using cryptocoins have 0 knowledge of economics.... so in the simplest way I can possibly explain the above data I tell you... you can't sell something with scarce quantity, if you can't sell it the price will NOT fall except if people keep buying and selling the same coins at a loss for everyone. The amount of new coins are so few that if only the mined coins were being sold with no new users buying in the project, the daily price drop would be exactly 0,455%.We're in a bear market because people are unable to spend 5 minutes for calculations .... this makes me mad!  .... and sad ...  |
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potapo
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Your professional profile on the blockchain
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August 24, 2018, 10:45:01 AM |
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Hi all. I see a lot of new nodes, but the hash is still low and sometimes it gets lower than it was with fewer nodes. What's happening?
This is probably some kind of system failure. Over time, it will be improved and improved for users. this is my vision of this situation. |
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rgsnedds
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August 24, 2018, 11:09:08 AM |
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Okay I did some mathematical research and I came with the following numbers, During the algo change days when the only exchange available then (crypto-bridge) had put the XDNA wallet in maintenance because of the fork and was taking their sweet time to enable it, XDNA was trading on average around 0.55€ (my local fiat). With the BitGun level being 6, we had a total coin emission of 27,360 XDNA. At that price the total emission in fiat was 15.048€ daily The total emission in Bitcoin was 2.25802080 BTCWith today's data, we're at BitGun level 2 with a total coin emission of 7,200 XDNA. With today's price of 0.22€ this equals a daily emission of only 1.584€ The total emission in Bitcoin is 0.28584000 BTC dailyI understand that a lot of people using cryptocoins have 0 knowledge of economics.... so in the simplest way I can possibly explain the above data I tell you... you can't sell something with scarce quantity, if you can't sell it the price will NOT fall except if people keep buying and selling the same coins at a loss for everyone. The amount of new coins are so few that if only the mined coins were being sold with no new users buying in the project, the daily price drop would be exactly 0,455%.We're in a bear market because people are unable to spend 5 minutes for calculations .... this makes me mad! .... and sad ... a simpler way to discuss the economics of mining; if you can't make a profit from selling mined coins when they land in your wallet: it's not worth mining that coin. you can get mad and bang on about emissions and bitgun levels, but the truth of the matter is, miners don't want to mine at break-even. |
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RivAngE
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August 24, 2018, 12:13:46 PM |
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Okay I did some mathematical research and I came with the following numbers, During the algo change days when the only exchange available then (crypto-bridge) had put the XDNA wallet in maintenance because of the fork and was taking their sweet time to enable it, XDNA was trading on average around 0.55€ (my local fiat). With the BitGun level being 6, we had a total coin emission of 27,360 XDNA. At that price the total emission in fiat was 15.048€ daily The total emission in Bitcoin was 2.25802080 BTCWith today's data, we're at BitGun level 2 with a total coin emission of 7,200 XDNA. With today's price of 0.22€ this equals a daily emission of only 1.584€ The total emission in Bitcoin is 0.28584000 BTC dailyI understand that a lot of people using cryptocoins have 0 knowledge of economics.... so in the simplest way I can possibly explain the above data I tell you... you can't sell something with scarce quantity, if you can't sell it the price will NOT fall except if people keep buying and selling the same coins at a loss for everyone. The amount of new coins are so few that if only the mined coins were being sold with no new users buying in the project, the daily price drop would be exactly 0,455%.We're in a bear market because people are unable to spend 5 minutes for calculations .... this makes me mad! .... and sad ... a simpler way to discuss the economics of mining; if you can't make a profit from selling mined coins when they land in your wallet: it's not worth mining that coin. you can get mad and bang on about emissions and bitgun levels, but the truth of the matter is, miners don't want to mine at break-even. Then don't mine it! If you like XDNA then mine RVN or whatever you deem profitable and sell it to buy XDNA, that way you'll get more XDNA coins from mining another coin. If you and others do that, then the price will eventually rise enough to make mining XDNA profitable again. But if you don't care about holding XDNA, then I don't know what are you doing here. And if you only care about selling what you mine for fiat, sorry but probably no developer/hodler/enthusiast/investor will care whether you make this kind of profit or not. |
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rgsnedds
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August 24, 2018, 02:43:04 PM |
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And if you only care about selling what you mine for fiat, sorry but probably no developer/hodler/enthusiast/investor will care whether you make this kind of profit or not.
because cryptocurrencies don't need miners? ^^ masternodes make money for devs. miners support networks by hashing the coin. why shouldn't i look to make money from my mining? |
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