Lazy BlackCoin Miners

A few days ago, a BlackCoin Multipool was launched, which gave Scrypt miners an easy way to acquire BC. Mining Bitcoins and trading them for BC is a simple activity any miner could do himself. The conclusion: Miners are very lazy.

The BlackCoin Multipool was invented, because BlackCoin is a pure Proof-of-Stake coin by now. You cannot mine it anymore. Instead, the multipool will mine other coins and trade them for BlackCoin automatically. The effect is increased buy pressure and trade volume for BlackCoin. Some people proclaim this as a big innovation.

Many people (like me) were doing that already. Automating the process lowers the profit, because miners want their coins fast. There is no time to wait for a profitable time to sell some shitcoin and buy BlackCoin. Maybe the pool devs have a big budget to hide latency and increase profit, but with very little effort anybody should get better results.

The only logical reason is that those miners using the multipool just do not want to get bothered by the trading. Lazyness. Just point your mining rig at the multipool and see the BlackCoins flowing in.

Are other miners just as lazy? Maybe there are more opportunities to exploit that?

(BlackCoin is actually one of the better altcoins. Nevertheless it is over-hyped and over-priced right now.)

Advertisements

5 comments

  1. al

    ‘Automating the process lowers the profit, because miners want their coins fast.’ This is not true in blackcoin’s case. Constant mining gets constant buying pressure on the market. The more miners, the more buying pressure, the bigger chance of a higher value. So, with mining on the pool, you participate in giving the coin value. NOT decreasing it’s value. Imagine 1000-2000 miners mining blackcoin at the pool. The buying pressure will be HUGE on the exchanges, giving miners more value and giving them more profit. The pool is still in beta and has lots of interesting features to come. For example, i heard from the devs that you can select how exactly you want to participate in converting your coins to blackcoin. You will be able to choose to support the ‘buy wall mining’. Which means that the btc you mine will be used to put up buy walls on exchanges. You will in that case not be paid out if the wall is not hit, but you will get more coins once it does. Watch out for Blackcoin, it’s a very interesting coin.

  2. duedb

    mining on the bc multi shows support for the coin and also helps prevent mass dumping of the coin.

    If people dump, we get cheaper coins. If we buy at an inflated price it pushes up the value. The fact our 24 Hour Volume is 1851.181 BTC as of writing this is pretty nuts.

    Once you go black you never go back!

    #blackcoinpool @ freenode irc

  3. züpfiklatscher

    I love that idea with the buywall, would be much harder for whales to play with the coin Pump&Dump.
    P&D has burned enough people to be scared about altcoins, BC may break out of that scheme.
    With only 1% inflation (okey bit more due to compounding interest), BC has a really great chance to get high valued.

  4. BLACKCOIN

    You don’t get the point at all ! With the multipool, your today’s coin bought with shitaltcoins are worth more everyday

Give some feedback

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s