Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | Mining Period Started
1) are miners the luckiest people in the world right now with this coin
or
2) did I (we) pay way too much for this coin during the ICO
I ask because I got in on the ICO and I am also a mining this coin right now.
In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.
and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.
I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 850 right now....
this is not looking good...
or
2) did I (we) pay way too much for this coin during the ICO
I ask because I got in on the ICO and I am also a mining this coin right now.
In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.
and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.
I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 850 right now....
this is not looking good...
Im guessing he priced the coin based on the 1 million total possible count, since it is 10 million possible now and the coin will be way less rare I would say you paid too much. . . As far as how profitable mining is this is the first time I am mining and can say I have no idea lol
The dev said he decided to keep it at 10 million because 259% was the advertised rate... but 1 million coins was also advertized. I feel bad for the dev in a way. I think it was an honest mistake, but I also think he profited from it (maybe, with cheaper coins he may have sold much more). I like the idea, and am mining it (only at 14MH/s so not gonna get rich here
). But I feel bad for the guys that bought a coin thinking there were only 1 million possible coins, and now know there will be much more. They definitely didnt profit from the mistake.Should not matter as the coins are generated in the growth period...
The % share will still be the same
This is why I didn't buy in the ICO - when I arrived 1 SEED would have cost me 0.8 bitcoin. I referred to the block stats and realised I could probably mine that for much less. Although if I arrived when they had their ICO priced at 0.1 btc I would have bought then.
It will be interesting to see how the coin develops during the growth period. I am not switching my computer off for a long time now lol.
Very interesting concept; rewarding people for holding onto their coins rather than trading from day 1. Will also be interested to see the price of this coin on the first exchange. It's bloody hard to mine.