Originally Posted by DiGiCiDAL
UTC is absolute garbage... unless you happen to be pulling down - oh, something like 10K coins per day... which isn't possible. There's a 2M premine on that coin, then they had big private pools jump on the backend - and then had tons of 'problems' getting the public pools up and running... which by the time they did the difficulty had already gone to 5 and was steadily rising...
I'll agree with anyone skeptical of NUT, EAC, DOGE, or whatever coin comes up next week... but that
coin in particular seems like it was designed
to be nothing other than hype and a big payoff for the devs and their buddies. I won't mine it simply on principle... I like the idea behind scrypt-jane mining and coins with POS as well as POW mining in the initial phase... and I like Bumface as a person when I've chatted with him in the trollbox... but that coin is a major fraud IMO.
Yep POT was a big bounty - but it will have a fast drop-off as well. Just remember that mining new coins (just like trading in any coins, old or new) is all about the averages. Not every coin you pick to mine at the start will wind up being worth anything, not every coin will get pumped to the moon a couple of months later. As long as you have more value at the end of the month (whether cashed out as fiat/BTC or held in the original currency) then you did well. If you don't - then you need to adjust your strategy. But no one
avoids every bad trade, or catches every good opportunity... and anyone that claims to is trying to either rob you or scam you in another way.
It's always better to have between 10-20 1% gain days in a month than 1 or 2 20% gain days... because the former indicates a good methodology and discipline - where the second is simply gambling (unless you can do that every single month without a bad one costing you just as much... in which case you should be trading for a large investment bank). In fact, if you can pull that off for more than a year - you could just start
an investment bank of your own... but I guarantee you'll be investigated and audited every year you are in business.
hmmm, I seen lots of bad words about it on bitcointalk,
10,000k a day, where are you getting those sums from? I am mining it anyway & selling it as I go on freshmarket? i already made nearly 0.5 LTC for 4 hours or so? & it was down for about 45mins too.
im only using 2mh on it aswell.
so lets say 2.5 LTC @ 0.027 = 0.0675
im going to turn on the other 2mh soon when ive been & got some more electric lol, nearly on the emergency & the shop doesn't open for another 3 hours?
Is it the same bumface off coinex your talking about?