Here's a tip for all the miners who keep dumping your shit on the market:
If you really like to sell at lower prices, keep doing that. If you prefer to sell at higher prices, then take it easy on the sell side, and spread your orders out a little bit.
It wouldn't kill you to participate in the trading a little bit, either.
Except miners don't have faith in the coin (which is understandable) and rather cash in now than gamble on the future.
Right now the coin can't even process transactions within a reasonable timeframe and the developers are MIA.
Besides, miners can't even dump right now because the developers forgot to implement KGW.
Yet, for some reason, they continue to mine it. As long as they're gonna do that, they might as well try to get as much out of it as they can. Even if one doesn't expect it to do well in the future, it's still in his best interest to sell wisely now. Dropping a bunch of coins for sale at one price decreases the price right now, and delays the sale of those same coins that he's trying to sell. As much as one might like for it to be otherwise, everyone cannot sell at the same time. It's impossible, because the buyers don't all show up at the same time. There is enough hype about this coin to keep the price high between now and March 25. After that, mayhem. But until then, keep cool, don't panic, sell like you know what you're doing.
Don't blame the miners, at least the small miners not joined in auto-profit switching pools. The smaller miners are the ones keeping the coin alive with the highest operating costs and can't afford much speculation. Blame the auto-profit-switching pools for dumping their coins all at once and of course the pure speculators hopping from one coin to the other, bailing out when profit margins get to low.
I'm not blaming anyone. I just happen to know that people who acquire coin by mining are not vested at some particular price, and because of this will typically sell with less regard for the sale price than someone who acquired their coin by paying some amount of some other coin. This applies to all miners. People who are trading do stupid things too. They sometimes panic and dump all their coins on the market because they think it's gonna crash. Their fears are not unjustified either because coins do crash. But, with this one, we have this looming hype over March 25th that gives us all something of a buffer of comfort.
Profit Switching:
If a coin follows its block target, profit mining can't affect the price any more than any other kind of mining, because blocks are still found at the same rate. It hurts other miners because it suddenly drives up the hash rate and, in turn, the difficulty, which, if the difficulty is slow to adjust down, actually slows the rate of coin production after they've switched to another coin, leaving the remaining miners with the same hash rate they had before and a higher difficulty, which, if the difficulty is set to adjust after some number of blocks, will take a lot longer to return to the lower value than it took to raise it.