Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
by
cubex
on 15/08/2014, 07:22:29 UTC
why this coin is so struggling in the exchanges?

This group of buyers is bottom-fishing.  Unfortunately, with the hash-rate more than double (resulting mined coins halved) since the last price rally and the last few days of BTC big slide (BTC is USD510 now), it becomes a money-losing business to mine even with the slight increase in price.  When miners start to realise the current exchange price cannot cover their costs, they will ask for a higher price.