Quote from: Androidicus on October 03, 2014, 08:33:30 AM

@johndec2 Thank you - yours and @melvster's responses are an intelligent appraisal of the current yo-yo mining effect. Furthermore, your method for collecting a greater quantity of BTM than straight mining is also a perfectly pragmatic approach, for your desired outcome and not for me to criticise.

However, my simple outlook is that if all miners adopted the same approach, the yo-yo effect would be even worse. It is the consistent miners, like myself, who confirm the currency at high difficulties that you have mined at low difficulty and support the network whilst other miners switch to more easily obtained currencies and perhaps trade them to BTM.

So yes, my dedication to this project is without doubt. Of course, I have electricity costs to meet but that this and my time spent working on projects that aim to adopt the wider features of the project are my investment. Moreover, it is my perception of the project's long term value and worth (on which @melvster comments) that underpins this investment.

With respect

Edit: Your question regarding the IPM may not have been answered - I cannot but @coinsolidation or others may be able to update you on this subject.

Quote from: melvster on October 01, 2014, 01:48:40 PM

Quote from: johndec2 on October 01, 2014, 11:39:59 AM

Androidicus. I admire your dedication to the coin through thick and thin but this "feast and famine" cycle is wearing a bit thin. It's looking like the current round may last up to 10 days, followed by 6 hours of insanity, rinse and repeat. Like you, I'm hoping that it will eventually equalise but we shall see.

The general theory around here is mine at all diffs and you will be rewarded. Umm, sorry but that is not true. If I was mining BTM at the current diff I would be getting around 20 BTM per day. What I am doing is mining another coin, selling it and buying BTM. That is getting me up to 40 BTM per day plus helping support the price. Judging by the nethash, I'm not the only one that has figured that out.

In a way, I'm doing myself and other bag holders a favour. By NOT mining the coin I'm making it scarcer and therefore more valuable. What happened to the IPM scheme that was supposed to avoid this situation?

Yup good analysis.

It's swings and roundabouts really. Mining BTM has the advantage of securing the net, faster confirms. If you want to actively play the market you can arguably make an increased return during certain periods (what warren buffett calls cigar butt investing), but, imho, it's relatively small sums compared with the long-term project ambitions, as the free float is still small (under 5%) and about only 1% of people that could know about BTM do. Similarly scarcity will act as a deflationary influence.

But there's another aspect from the mine/trade paradigm and that's growing adoption from the web. The poloniex rollout has been quite eye opening, there has been a hive of activity, and if this leads to more engagement and businesses to gain a significant competitive advantage, then this ought to become another driving force. As a developer my hope is that adoption will lead, and the price follow.

agreement with this quotation, as we see the release of payments over time, difficulty not matters so much, would be nice to have a consistent 50ghash to keep the 1953 flowing a little quicker over the 7ish days that it takes to change ... all in good time