Gaelium (GAEL) mining

[gaelium]

That last point is the one that matters, and it is exactly where we landed ourselves.

More hashrate does not help us. A miner mines and sells, so past a certain point adding pools and hashrate just adds sell pressure against a book that has almost nobody on the other side.
We have nine pools now and that side of the work is done.

What is missing is people who want to hold the thing for reasons other than mining it, and that is a visibility problem before it is anything else. Almost nobody knows the chain exists. Search brings
us about eleven percent of our traffic, and this thread brings us roughly as much as Google does.

So you are right that there is no point selling mining to anyone right now. We are not trying to. The work has moved to being found at all.

And on the GPU cost point, no argument. Nobody should buy hardware for this.
The cards worth pointing at Gaelium are the ones already sitting idle, on cheap electricity.

[FP91G]

Speaking as a miner, I’d say it is very foolish to hold 100% of the coins unless you are a developer who knows the project's future.
Typically, miners might hold 10–50% of the coins, but they sell the rest because they have specific mining expenses. I used to hold dozens of coins that way, but now it’s all just a useless collection of files on my PC.

[gaelium]

No argument from us, a miner has bills, and selling is the whole point of mining.
We have never asked anyone to hold, and we would be wary of a project that did.

That useless collection of files is the honest ending for most coins, and Gaelium could well join the pile. Saying otherwise would be cheap.
What actually decides it is whether someone is still building a year later, and whether there is somewhere to sell when you want out.

Both are things you can check for yourself rather than take our word for. You have been through dozens of these, so we would rather ask than guess.

The few you did keep instead of dumping, what made you keep them? 

[FP91G]

No argument from us, a miner has bills, and selling is the whole point of mining.
We have never asked anyone to hold, and we would be wary of a project that did.

That useless collection of files is the honest ending for most coins, and Gaelium could well join the pile. Saying otherwise would be cheap.
What actually decides it is whether someone is still building a year later, and whether there is somewhere to sell when you want out.

Both are things you can check for yourself rather than take our word for. You have been through dozens of these, so we would rather ask than guess.

The few you did keep instead of dumping, what made you keep them? 

I made the typical mistakes of a novice miner: more experienced colleagues advised me to sell two-thirds of the coins I mined, but I didn't listen to anyone. I decided to hold onto some of the coins because the project seemed serious to me.
You created a coin based on an ASIC-resistant algorithm, but what is its purpose?
There are so many coins like that, and miners will only flock to such projects if the market profitability is high.

[gaelium]

Two weeks ago I said I would not link hashrate.no. I had asked them to add Gaelium, heard nothing back, and sending miners to a list the coin was not on seemed pointless.

They added us this week, and they did it properly. Our difficulty, our price, revenue and yield per MH/s, a calculator with power cost, even a solo estimate.
So the link is on the mining page now, next to the card tables.

On purpose, there isn't one in the sense you mean. It moves coins from one address to another and you mine it with a normal graphics card.
No contracts, no staking, nothing else bolted on. Bitcoin mining belongs to warehouses now, and most of what came after either promised something and disappeared or got so complicated nobody knows what they hold.
We wanted the plain version back. That is a preference, not a use case.

Which leaves how the thing is run, and you half answered that yourself, you kept a few coins because a project seemed serious, not because it did anything clever.

So, something you have not seen.
Remember the solo share bug from August. While we were in there we found a second one. Miners connecting with a malformed worker name got credited, then wiped when the balance matured. 43 accounts since launch, one of them down more than 90,000 GAEL over three months without knowing.
Nobody complained, nobody could have. Fixed, and paid back from our own wallet, not pool funds. Both together, over 470,000 GAEL returned.

The heavy technical stretch is behind us, more or less. That kind of work never really stops, but the pace has dropped and the hours are going somewhere else now, getting the chain known. Slower and less fun than shipping code, and it is where we are actually behind.

That won't bring in a single miner and I know it, but it's the only kind of answer I have, and it's on the chain rather than in a post