Is there any utility for people holding or buying SolarCoin rather than speculative purposes? If I understand correctly, Solarcoin rewards users for the amount of solar generated, which may increase selling pressure. I'm just wondering as someone who doesn't have access to renewable energy what the coins could be used for.
Read my past posts here, there are 33 Million PoW coin also which have effect on the market and I would think those holders have been paid off after the rise and fall last year. Which is why you see the price decline, that kind of profit taking has wiped out the incentive. Any new holders now have to support by hedging out of their positions. But again who would buy when all claims need to sell in order to support their investment in solar. It is the reason why they would claim.
more people claiming Solarcoin doesn't necessarily mean that the coins are dumped on the market. People who get involved with crypto tend to understand the potential in holding depending on the current market situation. I know people who used to mine bitcoin and altcoins back in the days who were very profitable because they were able to hold on to all the mining profits and dumped when the price increased tremendously.
In my opinion people claiming Solarcoins right now would be stupid to just dump them on the market. Small individual claimers wont receive significant amounts, so why dump when you're basically getting almost nothing now. It's not worth it and I think most people will hold on the their claimed coins for now...
Even if I had a large solar farm I wouldn't dump my claimed SLR for BTC anytime soon. again its just not worth it right now. Why not hold on to something you got for free anyway. That's what I think will be in most peoples heads hence I don't believe that the selling pressure has increased because there are more claimers.
More claimers is probably a good thing for Solarcoin because it just means that that coins are being more evenly distributed to new people who probably see the potential of holding rather than dumping in the long term. This can also lead to more nodes which also strengthens the network!
Correct, it is a 40 year long term project using a network effect. The PoW coin is what I am getting at. It was supposed to represent previous unclaimed solar. Yet it was gained by mining. So reduce the coinbase and the claimers can then make the market by holding their coin. Yes this would be smart for them to hold. It was free. But they also want to use the coin to pay for their Solar Installations. The coin is about creating incentive for solar. So we fall back on why people would buy... Speculation is the biggest reason but there was a trap of PoW coin.