Hello All,
As admin of NLpool i wonder how you guy's think about Dualmining with claymore after 9th May.
As you probably all are aware XVG will halve around that date, @ block 2.124.000 to be precise.
This means that when you dual mine XVG, your income for XVG will halve also.
From that date i think, with the current exchange rate, XVG dual mining will not be profitable anymore unless the price for XVG will double or half of the miners go out, something i personally don't see happening soon.
So my question is what are you guy's going to do? and what do you want us to do?
For now we have Shield as alternative for blake2S and Maxcoin / Smartcash with the Keccak algo.
However those coins cannot take the 250TH/s from Verge so if you guys have alternatives you would like to see, i would really like to know them if you can share. Perhaps someone can make a poll around here?
I think a few things will happen that might keep XVG profitable:
1) XVG will suddenly become more "scare" - hopefully that scarcity drives the value up a bit, which will make the existing and newly mined coin to be worth a bit more, which helps with the halving of block reward.
2) With the huge drop in profitability, people might just drop off entirely, deeming it not worth the cost / heat. That lowering in difficulty will help profitability a bit, but I don't think it will be a huge amount.
3) It's warming up in the northern hemisphere. People previously happy dual mining in the winter may no longer be happy about the heat generated or can't cool the systems sufficiently. Combine that with lowered profitability, it may get them to shut it off entirely. Additionally, some states in the US (and possibly other parts of the world) have higher electricity rates in the summer months to cope with increased demand. This could push profitability even lower for those dual miners, so again, point #2 - more people dropping out = slightly increase profits for the people that remain.
I personally will continue mining XVG. My power rate isn't the great (I live in Australia, so not cheap), but it'll still be profitable after a halving of the block reward (for now). It's getting cold here, so I don't mind the additional heat coming off the rigs as it helps to warm the house without extra costs for other types of heating. I'm planning to keep an eye on things for the next few weeks to see how it goes, but I'm hoping you don't cease to support XVG on your pool, as it's by far the best out there.