Quote from: cchub on August 06, 2018, 07:31:48 PM

Quote from: aikida3k on August 06, 2018, 07:23:42 PM

Helping miners won't do anything to raise the price of BBP. Miners don't help the price of a cryptocurrency, miners only introduce supply. All new supply of a cryptocurrency is introduced by miners. Lowering RAC is only an encouragement to introduce more supply.

The way to help the price of BBP is by encouraging buyers to buy BBP. But buyers are not encouraged to buy any alts right now as the price of BTC is decreasing. Since BBP is priced in BTC, no one is encouraged to buy BBP.

A way to encourage potential buyers to buy without regard to the future value of BBP is to encourage people to buy BBP in order to support orphans. Most of these people could be found in churches. Let them know the benefit of buying BBP versus giving to a conventional charity because they might actually realize a profit from their "gift of buying BBP" whereas giving to a traditional charity gives them no chance of realizing a profit.

EDIT
So in summary, I believe people are afraid to buy BBP because they are afraid of BTC continuing lower. I won't be surprised if BTC touches $4000. $4000 was the average price for 2017 and BTC has a history of reverting to the prior year's mean. There isn't much we can do about that. But we can encourage people to buy to support orphans with the chance of realizing a profit.

You should all read what aikida3k said. He is right. Miners only increase supply and therefore make the price plummet.

Not possible in a free market. Its true that more miners increase the trading frequency, which is good for liquidity and market depth, but cheap coins are always bought by investors looking for deals along the way.