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hostmaster



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Sr. MemberActivity: 266Merit: 250 Re: ★★ [ANN] ECCoin (ECC) ★★ Final 4 Days to Mine ★★ 1 Days to First Stake ★★ April 18, 2014, 10:39:11 AM #3603 Quote from: copychicken on April 18, 2014, 09:53:24 AM One advice... and i think i am statistically correct...



The last two months... multipools became a fashion trend...

Mine the most profitable coin etc... the problem is that the verifications and other factors...

sometimes make it not profitable...(usually if you calculate your profits in 24-48hour...)

Plus the transaction and pool fees for everycoin mined... even if they are turned in btc..are huge.



Lets take our coin... Ecc now...with all the multipool hitting...and some people leaving and joining

5 times a day on different pools.. like manual multipool... probably gives... 0.0045 per mhas..

maybe lower...



The funny thing is that people...get in a pool...crosscheck the infos...

""hmmm i have 5 mhas... 5 mhas produces 400k coins a day... the price is 7 satoshi...

so its 0.xxxxxx btc.. hmmmm i will stop mining it..its not profitable""

That actually happens with everycoin out there,cause of the multipools...



The funny thing is...that even if you mine ecc right now with low profitability.. 0.002 per mhas.

and continue mining it for 20 days (its an example)....

And with the current price yes...its not worth it..

But guess what? what would your profitability be, (when you where mining for 20 days

and all those mined coins...) when their value doubles or triples?? that 0.002 mhas suddenly became 0.006 or more... FOR ALL THOSE 20 days...

That means that you were mining a profitable coin for 20whole days... without even knowing...



So i think that profitability should be calculated long term and not shortterm...

Especially if a coin, such ecc has that much support behind it...

I dont even care if it stays at 5 satoshi... we shouldnt be even talking about satoshi,

but with ecc numbers... ( we should be the first to get rid of btc comparison)



That shorterm profitability is what killing everycoin out there i think.. and our pockets of course...

All these asics gpus the last 50 days... are suffering.... ( i mean their hashrate to profit is at 1/3 right now)



Yes you should not mine for money only try to earn value those cryptos has good goals and can bring much good for the earth. Those multi pool miners thinks they made quick money but see this is what it happens 3/1 revenue and no hope for the future.



But we will break this dwindling spiral. ECC brings a new hope for all of us. We will mine for one goal, cleaning PoW method from the earth. We dont do it just for money. What's new with ECC is it has a certain message to carry and he knows more who is he.



Yes you should not mine for money only try to earn value those cryptos has good goals and can bring much good for the earth. Those multi pool miners thinks they made quick money but see this is what it happens 3/1 revenue and no hope for the future.But we will break this dwindling spiral. ECC brings a new hope for all of us. We will mine for one goal, cleaning PoW method from the earth. We dont do it just for money. What's new with ECC is it has a certain message to carry and he knows more who is he.

TimC



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LegendaryActivity: 1694Merit: 1022 Re: ★★ [ANN] ECCoin (ECC) ★★ Final 4 Days to Mine ★★ 1 Days to First Stake ★★ April 18, 2014, 02:22:57 PM #3612 Quote from: crowning on April 18, 2014, 02:09:41 PM Quote from: hostmaster on April 18, 2014, 01:20:19 PM anyone else see its minting?



Mine does as well, but during sync I got 5 transactions which got no confirms, after sync new transactions (with slightly different amounts) came in which where synced. Looks a bit odd to me, but maybe when I'll read a paper about how PoS works I'll understand...

Mine does as well, but during sync I got 5 transactions which got no confirms, after sync new transactions (with slightly different amounts) came in which where synced. Looks a bit odd to me, but maybe when I'll read a paper about how PoS works I'll understand...

Also minting is just like solving a block. One one wallet can submit a minted block if more then one wallet submits a minted block only the first one gets it and the others get orphaned. So the longer you keep your wallet open the better chances you have on minting coins. I'm up to 31 batches of minted coins now. I left my wallet open last night before I went to bed since I knew it was going to start stake so that way I did not miss any chances of minting new coins.

Also minting is just like solving a block. One one wallet can submit a minted block if more then one wallet submits a minted block only the first one gets it and the others get orphaned. So the longer you keep your wallet open the better chances you have on minting coins. I'm up to 31 batches of minted coins now. I left my wallet open last night before I went to bed since I knew it was going to start stake so that way I did not miss any chances of minting new coins.