I see this from a few angles at this point as a witness and audience member only so far lurking as a guest as I have an interest in this coins future as I really like the fairness of the mining processes.
1 - This was the first time I had bought into this coin prior to a market spike. I noticed the spike at 8000 satoshi when i had bought in at 3700.
I wanted to take profit of my small profit and double my money on record as proof of concept to an investor friend.
This investor friend is now skeptical of investing because of the wallet issues and the platforms and pools etc.
The chaos that is surrounding this is going to scare off many people from this coin. I am mixed about how I feel in the end, because I want this coin to remain stable and keep having spikes to 10k satoshi and then return to 3500 every time.
For this to happen and prove it's resiliency, this must remain so. If this is true then big investors would not really be welcome because its their kind we were kind of trying to push away from this coin. This chaos is a positive thing for this purpose because in the end end we want to keep the market cap just below what the major exchanges will allow and get listed on kraken etc so its easier to have more aggregators of liquidity for the purposes of TAKING PROFIT, of which I cannot because I can only use bittrex due to living in hawaii the state laws prohibit most platforms from operating here due to outdated laws.
In the end I would say this is a mixed blessing. It is proving the coin can repair itself but it is also showing some kind of weakness that makes people paranoid it was hacked and now has some kind of compromised code that is causing it to fork. Until the code is figured out as to why it keeps forking, or even why this is POSSIBLE without the intent of the dev and is happening dispite his efforts, this coin is now a risky investment because of the lack of ability to cash out the profits from the spikes that happened that are within normal spike parameters of prior market behavior so far even when DDOS'd by 7 million dollars. At one point during that pump i saw it had 7 m in bittrex. If that is the case, the 4 m spike mentioned before is waaaaay below the actual literal market spike of liquidity.
I don't think it's a good idea we should assume anything other than growing pains. The cattapillar currency must shed it's cacoon to grow wings and ascend into it's next form of evolution.
Once the fork problem is figured out at the root, the coin will be way more resilient because the dev will then know how to track down the problem if it happens again an perhaps will solve it completely so it cannot happen again without his "pushing the button" as a scheduled process controlled, like a controlled burn of cropland to create fertilizer out of the old plants and remineralize the soil.
All in all it will chase away the big boys but it will keep the faithful aligned to the old ways of this market. I hope it stays just like it is! I think this coin is perfect other than the unforseen issues caused by forging ahead in M7M hashing research in uncharted territory of a POS/POW hybrid coin that limits growth if it becomes a brute force "DDOS" of hashing.
I am having an issue with this though. Does this mean its more profitable to mine solo if you have over 50 kh/s? The pools seem to mine too quickly and the block rewards end up going way down over time?
How do we, as pools and miners on these pools, perfectly optimize our mining contribution to a pool to have the OPTIMUM payout vs mining speed, when spread among the miners as a whole? Is it possible to display the precise amount of mining Hash speed that will pay the optimum amount as a running guide based on difficulty?
How can we improve our efficiency as miners to know exactly how fast to mine so we get the most block reward vs. speed? How fast should a block with 1 difficulty be mined by 10 miners to perfectly optimize time of mining vs the payout block size?
We need to know these things so if we have an interloper that comes in to DDOS the hash of the coin, they will be IMMEDIATELY identifyable by their user name when their hash appears as highly out of order and the pool moderator will be able to block their hash rate down to the optimum if they insist on forcing the issue.
let's fix this so it never happens again and we all get the optimum payouts at any one time by sticking to a collectively agreed upon hashrate per miner that dynamicly shifts like the other stats based on difficulty and amount of miners, etc to make this even MORE fair?
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