Post
Topic
Re: [ANN] ArabianChain - DubaiCoin (DBIX) - Smart Contracts from Dubai to the World
by
RPS13
on 24/07/2017, 16:38:20 UTC
The problem is that the coin cant survive without miners. No miners, no transactions. That is unlike realworld currencies or things like gold for example. When mining gold becomes to difficult or not profitable any more, miners will just stop and find another profession. Trading gold will still continue and due to scarcity gold prices will go up.
With crypto mining however, if all miners stop mining because its not profitable anymore, all transactions will stop, the community loses interest and the coin is doomed.

So imo, fix the difficulty first, and then the community with its miners will pick up the coin again, trading will start to increase and prices will rise.

Now im not saying the difficulty should be made too easy, because that could drop prices yes. But there is a reason why there is a certain target for difficulty and blocktime. Thats because it creates a balance. Not only within the coin itself, but also in relation to other coins. So when you have a difficulty that is about 20x higher than what it should be, you have severe imbalance.

Im actually surprised there are still people mining dbix. But maybe they have very cheap electricity? For me its cheaper to buy the coin than it is to mine the coin with the electric costs involved.