Acidyo (OP)
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April 07, 2014, 12:37:58 AM |
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It's starting to look lately as if even good, promising, innovative coins aren't standing a chance over the big fat dumps lately.
I haven't seen this mentioned enough, it's like people here who should be good with numbers should've realised this by now, but apparently they don't. The ones that keep dumping on a daily basis are not you mr. dogecoin miner, or you mr. x11 miner or maybe even you, sir sha256, god of all coins.
It's pools, pools with their 0.5-2% fees.
Most coins generate a big amount per day, given they have fast block generation, and these pool owners get 1 % of the blocks generated. This may sound a little to you, but it really isn't.
Noticed how most exchanges have 0.15-0.2% trading fees? That's cause people trade a lot. But we miners find blocks really fast too, and these pool owners receive on an average 1% of all those coins we thousands of miners get.
Let's take a look at myriad coin, qubit pool with a big % of the algo's total hashrate. They generate 483 out of 576 blocks in the last 24h. That's 83.8% of all daily coins. Which on an average day is around: 480,000 coins, 1 % of that is 4,800.
Wait, no that's not a lot, I just realised that... should've made the math before deciding to talk about this I guess...
Okay then I'll blame the obvious ASIC miners that have recently started appearing with 250gh/s speeds.
TL;DR: asic's suck, i'm too high for this
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