Your digging xmr's grave. Nice Job!

Your posts try to be as neutral as possible, which would make sense if you werent a part of the monero core team and werent invested in any coins....being neutral when your apart of the monero core team makes no sense and seems rather stupid/childish....your suppose to support your own coin. Lmao. But whatever.

Yeah, but I'm curious as to where people think the excess money is going now. XMR is fairly large now and I'm not sure exactly where people who sold are reinvesting(if they are). For a while it looked like it was going in to Vericoin. But that seems to have cooled off. Unless I'm missing something the whole altcoin pool seems pretty calm at the moment.

It is calm for now, until a major announcement is made by a altcoin, like I2P support development starting,  , or something that would impact an alt-coin's features in a large way.

While I think that wolf0's decision to knowingly write code for botnets is despicable, let me point out the only difference between XMR and a hundred other coins:

With XMR, you know that it's happening.

(Of course, we know it happens with Bitcoin as well - http://cseweb.ucsd.edu/~snoeren/papers/botcoin-ndss14.pdf  - but the reality is it happens with any CPU-profitable coin.)

The custom GPU miners are not that different from Bitcoin -- after all, to play in the bitcoin mining game, you have to purchase an ASIC.  The difference there is that the mining tax is closer to 100% -- or 150%, because most ASICs won't even ROI -- instead of 5%.

You're making the same mistake that others have in thinking that the process of mining is more important than it is.

Mining mostly matters to miners.  As a user, but not miner, of Bitcoin, I could not care less whether or not people have to buy custom silicon to mine it, or whether they make or lose money in the process.  Some attributes of the mining process matter for the value of coin, such as whether it's easy to 51% attack it, but that's really just saying that the security of the coin is important to users and holders.  But beyond that, the distribution of mining, or profits associated therewith, etc., are completely unimportant.

Miners are cogs in the coin machine that respond to the incentives created by the developers and the market.  Don't ascribe to them mythical powers -- look instead at the underlying money flow.

Are they pumping the price with some Mtgox lost coins again? MK's bitcoins.com auction maybe?

The price chart is very similar for Monero and Boolberry

Monero:



Boolberry:

I believe you are missing a point here: Business miners (mine big, sell quick, take profits and run) are causing, among other good and bad things, decreasing prices and (psychological/market/...) uncertainty in short to medium term, see BBR, see XMR, see LTC, see the other altcoins. This keeps investors away from a coin. Of course, making easy profit is the logical action from the business point of view. However, for the substainable development of a coin, a reliable environment is most crucial. Without price and network stability (and the continuous support of a rock solid community) it is very unlikely that a broader audience will (ever) spend money and effort on building applications etc that contribute usefulness to the coin, which is what every coin requires in order to get value. So, my point is simple: business miners are effectively counteracting the goal of creating a sound coin economy/environment. They endanger the survival of (good) altcoins, and act a bit like locusts. No one actually needs them.

That's an interesting way to put it. I haven't seen it put quite like that before, but I can see where you're coming from.

I wonder if this type of attitude is going to become more prevalent as time goes on.

Saving the coins is a neutral action compared to throwing tons of them on the market. Economically, selling tons of coins leads to falling prices when there is not enough demand, which is a typical situation in altcoin markets.

I think these are good points from dga and you, but I think the role of mining is being downplayed. Those who are in Crypto these days have complete lack of respect for an equitable Proof of Work and how important it is in the perceived value of a crypto currency. Bitcoin mining centralization is a serious problem that everyone should be criticizing, learning from and adapting to make it viable and useful for the common denominator. That is why Bitcoin is Proof of Work and not some random distribution through stakes or shares.

Look at LTC. The #1 reason it is failing or on a road to failure is its acceptance and adoption of mining centralization. Everything else is just a by-product of this phenomena, even the use-case debate is an offshoot of this.

PoW centralization and discrepancies will be reflected in a coin's perceived value and economies. It is a serious cancer. Getting away with it will not be duplicable like Bitcoin. It is basic human psychology.