RE: Why I'm Giving The Koinos Mining A Miss
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I wonder what that magic number for your hash rate will be where your cost transaction fees will exceed the value given Koins would be worth one dollar each. I don't know, Steem Dollars really went up and Lbry token soared in the past. The market is full of crazy buyers of coins. You cannot predict what they will find of value. Even Bitcoin Dark went up like crazy during the bitcoin-fork boom. Bitcoin Dark is not a blockchain fork of Bitcoin. It is telling that Ethereum has so much acceptance that the devs decided to use this chain rather than another chain with orders of magnitude cheaper transaction fees. It's funny they didn't just redo the protoshares mining strategy.
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I totally agree with you and I think that is the main reason why people flock to any old coin, you never know what the market will value the token at and it's not about fundamentals, its only about narrative and momentum, these markets like stocks can stay irrational for years and soon the irrationally becomes normalised as people use this as a base to justify certain trades.
I also thought it was quite strange to use ETH as the chain to run your distribution on, it could have been done on EOS, TRON, or any other of those other smart contract chains much cheaper but I did see they want to have a uniswap listing so I assume that also swung in their favour, there's a lot of liquidity on ETH that projects can tap into so I assume that and it being the "most decentralised" of smart contract chains
How did the protoshares mining work?