why is quark dropping again?
I think quark needs more publicity cause it feels like it lives in the shadow of the new and big coins.
I think quark needs more publicity cause it feels like it lives in the shadow of the new and big coins.
I can take a guess and it is bothersome. I am running an AMD FX8350 processor. Not running it real hot yet, maybe at 500khs, as I'm waiting for the CPU cooler to come. (Then it will be at 800)
Anyway, I'm generating about 1 QRK a day, which is around 3 bucks a month in USD and the electricity to generate those coins, here in Germany, is probably 5-10 EUROS. Just an estimate.
I think that is a problem in a few ways:
1 - Those with a free CPU to mine coins might choose one with a better return.
2 - It is expensive no matter how you look at it.
If my math is off correct me. I'm long Quark and a Quark holder but we need a higher price to keep the miners going, at least in some locals.
IAS
It took you a while , but you finally figured out what I was telling people 20 pages ago..
With such a small reward per block nobody will mine this coin after the next two reward drops (to 1).
Only the botnets.
Well, it is not exactly a criticism though. The price is just too low (unfortunately). It is in a precarious place for sure.
But, if the price doubles from here, roughly .20 QRK, then we are ok again.
Hopefully these Cryptos start another move.
But regarding your point - "With such a small reward per block nobody will mine this coin after the next two reward drops (to 1). "
We will see. I still think the network will be supported, but the mining model at this price point doesn't work, for sure.
Not a long term model but I will hang out and see what happens and support the network with 500kh/s.
And remember, there will still be around 1,000,000 coins a year mined - so that should EASILY support the network (profit there).
One more interesting thing - Mining is a hobby of sorts and done for more than money. Look at BTC, except for the first miners,
buying BTC is ALWAYS better than mining it. I see that as being the same with other Cryptos most of the time.
IAS
At current price that's 78 000$.
Hmm , even running a pool with 1% fee that's 780$/year and 65$ month and isn't quite attractive.
So , how many computers can you power 24/7/ with 78 000 /year?
Do the math , but the answer... you might be better not finding out.
I'm in Germany, some of the highest energy costs I know of. I pay .30 kw/h.
Now, there are MANY people that pay .10-.15 kw/h - that right there is break even to profit. And, as others have said, there are MUCH more efficient processors than my FX8350 (not efficient).
And then there are a few with near free energy (work, certain countries, etc.)
If you focus on why something won't work, that is what you will find. And vice versa.
So, perhaps just open your perspective a bit, see both sides.
If you say your brakes works fine and you don't test them although lots of people tell you should. you might die in a car accident , thinking that everything is fine.
It's obvious that quark dev rushed to mine all the coins too early and forgot the bitcoin principle that claimed tx fees would be able to maintain the network safe when the rewards goes to near 0.
And now a solutions needs to be diged up in order not to get prisoners of a botnet and a 97% mining pool. Which is what is happening right now.