Dif going up today, we're #2 on Coinwarz.
Coin Difficulty Coin reward/day Exchange rate BTC Exchange rate USD Revenue/day Days to create 1 BTC
NobleCoin 8.87000000 11339.666072 0.00000061 ? 0.0003662379 $4.15 144.57
Numer 2? We are even behind Litecoin, the exchange rate is still downwards without explanation.
It's without explanation in the sense that there doesn't seem to be a clear reason for this dip. But it looks like general market health. When over 75% of markets are declining, and all of the big markets are declining it's bound to create lots of downwards pressure. Unfortunately, NOBLE is not immune to this despite all of the good news surrounding it.
True, I have been wondering if that was the cazy but to be honoust was too lazy to check all other markets to see if it was true. It seems you should just mine a 'shitcoin' market where the exchange rate is 1 or 2 satoshi, those can't crash. :p But there you have the risk of the market disappearing.
If you think about it, the conversion rate to BTC shouldn't change if the BTC exchange rate to USD is already crashing. The latter already takes all other coins value down with it, so why the double crash?
i don't believe its a double crash exactly...
Noble actually performed very well in the first 2 days after btc crashed to 500.. whereas all other coins were dropping about 30%-40% in value.. Noble actually did the reverse for awhile this lead to increased mining and a higher difficulty... but the downturn in btc has been dragging for a longer duration which means that Noble is finally catching up with the downturn in bitcoin's value..
Think of it this way.. general average daily earning for 3mh/s when btc price was stable at about usd 750 was around USD 20-25 per day but now its at USD 10-15. Despite it being crazy to sell out a price lower than you bought in at economics determines when one needs to cut their losses .. i imagine that alot of people have decided to liquidate and get the most out of whatever they can get either for stronger BTC positions or for the simple fact that most miners have decided to sell larger quantities of whatever coin and consolidate their positions on only one-or-two favorite coins as they will still need to pay of those credit card bills in another 10 days.
I believe that once BTC regains its foothold at the 700-750 and holds in that range for 1-2 days.. we are going to see a massive surge in the market (for at least a couple of days).. because everyone has already placed their bets with their favorite coins and with prices being at an all time low its easier to get in on decent buy positions... at which point.. the btc well will dry up... and then the markets will start to drop down to more realistic level..
I've placed my bets on a variety of coins.. some based on belief in the coin/dev, some based on speculation, some based on the general system and some based on random calculations... am sure some will tank.. But also think somewill pay off well..
In the mean while.. i've been daytrading on Mintpal... with capital preservation in mind.. and diverting the btc profits onto my btc wallet for liquidation... liquidation will however only occur once we are out of the current btc debacle.
