Quote from: dalak on March 14, 2014, 02:36:55 AM

Quote from: WhatCantIRegister on March 14, 2014, 01:23:40 AM

I think a big step forward would be for multipool's to stop coin dumping and attempt more long-term profitability methods. What those are, I don't know, but we're killing coin values.

Don't worry about Gridseed's too much: Worry about 2nd generation when they start coming.

Finally someone cared to mentioned that. I have also been thinking what should multipools like wafflepool do in order to reduce the damage. There is that new multipool hopping through multiple "most profitable" currencies instead of chosing the most profitable but I am not sure it is enough. Recently, it came to my attention in this forum that people really partially blame multipools for the altcoin value reduction and there is a growing dislike/anger towards them.

I really wonder what poolwaffle is thinking about the issue.

I am always amazed how simplistic the ideas are that people make up in their heads solely in order to feel like they have a grasp on how the world really works.

Alt-coin prices are not depressed because multipools are dumping coins. Multipools are comprised of people investing their time, effort, and money towards mining most efficiently - in other words, all of us here in this forum - and it is not other people dumping their coins depressing their values, but instead supply rising to demand, and then surpassing it, as improvements to processes often reduce underlying costs, and subsequently reduce prices. For any one of us to expect somebody else to stop mining and selling the most profitable coins in order to maintain an artificial price point is completely unrealistic, and not the manner in which free markets work.

To expand on this line of reasoning, the overall worldwide level of coin mining, or total hashrate if you prefer, whether BTC, LTC, other scrypt coins, or even coins with different algorithms, will always trend toward rising to meet demand, until a point at which it becomes unprofitable to mine them any longer, which varies for each miner. As any rational person would likely agree (barring reliable predictive insight into market directionality factors), if an activity is currently profitable then more people will participate in it.

You're looking for someone to blame as to why you cannot effectively compete and pull in easy money. Whether it's your cost of energy or inefficient use of resources does not matter. If you cannot compete, then just drop out or figure out a way that you can. All this pining for a return to 0.01BTC/1MHD in this forum accomplishes nothing. That price point most likely will not return again. And for that matter, .009 is probably gone for good, and .008, and .007 will soon seem like the good old days before long. Welcome to reality.

PS. Newegg's customer service is non-existent. Just hope you never have to deal with them after you have purchased a defective item from them.