Re: [DOPE] DopeCoin - Heartbleed conquered! Digishield performing perfectly!
Adding a multipool will do damage to the hash rate of the coin, really a good idea?
The coin needs hash rate for blocks and security against attacks.
The coin needs hash rate for blocks and security against attacks.
The hash rate is a lame 120 MH at the moment. My theory is that if a multipool is introduced, the buy pressure increasses and prices will go up. it will quickly be evident that its more profitable to mine it directlly, and will jump to mine it till it reaches a kind of equilibrium where the prices is always optimal and slowly rising, miners switch between multipool and mining directly as per their profitability asessment. The short dip in the hash rate after the multipool's introduction will quickly be filled by miners bypassing the multipool
I think one of the biggest parts of why the price is so low is namely because there are really only 3 things you can do with it so far. 1.) Hold and hope for huge price rise. 2.) Trade for mostly modest increases due to low 24 hour volume/low prices in general. 3.) Spend it on a very very limited number of things. From my understanding in this kind of economy to survive and flourish the currency needs to be circulated, like a lot. It seems like mostly what people are doing is holding on to their currency(not sure) in hopes of something like Bitcoin happening, and you couldn't blame them I suppose. More ways to spend Dope will probably mean more circulation of the currency which means more people pass the word along which means hash rate as well as price would probably go up due to increased adoption. Again these are just my ideas, feel free to correct any mistakes I've made.