Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept
by
maardein
on 18/08/2014, 07:59:16 UTC
So... How profitable was (is?) mining PMC for transaction fees anyway?

I've been semi-following this coin for a while and I know PMC was designed as an experiment to see what the future Bitcoin economy might look like once all coins have been fully mined and whether or not a community of miners can be supported solely through transaction fees alone so I'm interested to see how the experiment turned out now that it's coming to a close.

Well, I can tell you the result of that experiment. It turns out people are greedy bastards, and do not pay transaction fees unless they are forced to by the client. Even when PMC was quite popular, and worth quite a lot, it was impossible to get any profit from mining. Transactions with thousands of PMC didn't even have 0.1 PMC in fee.

I have been mining PMC from the start, and have been losing money on it from the start as well.