Ive just mined a block mining solo on my AMD a6-6400k CPU ... After about 3 hours...
Does it mean the whole network hashrate is low and weak ?
The coin has a low supply so the block times aren't as fast as some higher supply coins, which is a good thing in a way as it could keep the price high. I would just mine on a pool for a steady payout directly to wallet. As you can see on the ANN page is say's something like 230,000+ mined over 70 years, so the block times are going to be slow. I've been mining at like 30KHs hash rate and after about a 5 days and only got about 2 URX. I just hope people keep the price high because for all this work i would hate to see the coin go down in value for being this rare. Not to mention all the mining time you have to put in just to get a couple coins. 30Khs is kind of high for this algo and it puts in a lot of work.
Just out of curiosity how high of a hash rate do you get with your AMD processor? I've been mining with two servers using 16 core Xeon processors with AVX2 getting that 30KHs.
I don't even know the hashrate cause i mine straight in wallet (setgenerate command).
BTW. Claiming 70 years as mining period is quite funny ... I bet Uranium X will not exist . Just imigagine how the world can change in 70 years. Many years ago a newspaper in New York calimed that due to increasing horses on the street there will be over 1 meter of horse shit on streets in the future ... Today insteas of tons of horseshit there plenty of cars and now the direction is to electric cars... So its very hard plannig forward for 70 years...
Another thing with low supply currencies is the problem that they are hard to spend at reasonable price.
I was reading somewhere that a man who owned some coin called Aurum (or something like that , anyway coin with low supply) caused price crash when he tried to sell them. The low supply is easy to manipulate the price cause very few people owns it..
Im mining it just for fun and to learn something new.
You are quite right, never thought of it that way. The price also depends on the dev team as well, like their updates and progress on their plan for this coin. Kind of makes me nervous now cause everyday i look on SafeTrade and see the coin going down down down.
I might try to mine some Zumy which uses argon2d250, but i heard they had such a high pre-mine, which makes me a little worried as well, but i do already have their wallet installed.