Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | Fork for Masternode Payment
A theory on the recent price drop. Hoping to open a discussion. I'm a DRK holder, bought in when cheap (but nowhere near MN levels) and have been mining steadily.
From a miner's point of view DRK looks like a circle-jerk between master node holders. You get the impression that DRK exists so that people can run MNs, which exist so DRK can work and pay the MNs...
Some quick math:
A MN is about a $7000 investment if you bought in while low recently.
Upkeep costs are negligible.
It pays about 1DRK/day.
You can get 100% of your investment back quickly and easily if you want out.
NET RESULT: .00014 DRK/$/day.
My miner cost $2500.
After upkeep costs (and I have the cheapest power in the US) I get about .1DRK/day on a good day. Less than half that on a bad one.
If I got out I might get 50-70% return selling my used hardware by dealing with flakes on ebay and craigslist for a month.
NET RESULT: .00004 DRK/$/day.
Mining is over 3 times less efficient. Unless that ratio starts to change, miners will drop off to the point that the coin is in danger due to low hash rate.
The impression is of the rich just getting richer and the little laborers getting sweatshop pay, and it's a huge turn off.
From a miner's point of view DRK looks like a circle-jerk between master node holders. You get the impression that DRK exists so that people can run MNs, which exist so DRK can work and pay the MNs...
Some quick math:
A MN is about a $7000 investment if you bought in while low recently.
Upkeep costs are negligible.
It pays about 1DRK/day.
You can get 100% of your investment back quickly and easily if you want out.
NET RESULT: .00014 DRK/$/day.
My miner cost $2500.
After upkeep costs (and I have the cheapest power in the US) I get about .1DRK/day on a good day. Less than half that on a bad one.
If I got out I might get 50-70% return selling my used hardware by dealing with flakes on ebay and craigslist for a month.
NET RESULT: .00004 DRK/$/day.
Mining is over 3 times less efficient. Unless that ratio starts to change, miners will drop off to the point that the coin is in danger due to low hash rate.
The impression is of the rich just getting richer and the little laborers getting sweatshop pay, and it's a huge turn off.
not sure what you have for a miner, but perhaps you should try my multipool.
www.xpool.ca
Cheers!
I do not see a problem here. Your investment into miner is much lower and safer than investment into crypto currency. I invested remaining 500 drk into masternode a week ago and I lost about 40% of my investment whereas you did not. Hence, it makes sense to reward the risk takers.
If you think the ratio is not fair and the miner is not generating enough income just get rid of the miner, simple as that.
Nice point of view
cheers