Anybody else mining SYNC? Came out today, has 4 more days left before it switches to POS! They have a inverse multipool ready to launch, so that once it goes to POS it will mine other POW coins and sell them, and then purchase SYNC off the exchange. With only 1000 coins the idea is that it has a bigger impact faster. When it was released today it hit 194.36 GH on it so it seems that it might be pretty popular!
I woke up at 6:30, normal pools didnt not work till about 6:45 by which time chinese miners/multipools were already killing it. There is no point mining as it will get dumped on over and over.
Better to buy when they sell if you want but how is this 1000 coins any different to the xxx coins out there apart from the limited supply?
I don't know if you can always blame the Chinese miners/multi-pools, I know a lot of people were renting extra power to mine with. I had never attempted to mine a coin before this one (Alright I mined WEST for a bit while I waited for Sync pool to become active) before I had only bought and traded, but I think I had access to decent hash power for a little guy. I guess if you can get enough at a cheap enough price. I would agree almost all coins are similar to most coins out there however, the low coin count with 1% staking and inverse multi-pool on release as well as the devs wanting to add anonymity to the coin + Popularity I look at it as a bit more stable. Bittrex added it however it wasn't planned to go on any exchange till POW was done. 42 like 365 are both POW there designed to be mined and dumped, not reward for holding like POS coins. Also once mined, miner support bumps the price up not down! Some Positive news already: http://www.cryptoarticles.com/crypt...limited-x11-coin-supply-leads-to-high-demand#
Look at the Mint hype, even before it switched from PoW to PoS it was dumped. Sync looks like all hype, not that it's a bad thing for miners though. I think you can make good profit on Sync if you mine it for the 4/5 days and dump all the coins on the start of the last day.
True, but Mint also had billions of coin and was set at 20% inflation, Only time will tell! At current the big rigs I had rented are finished, with dedicatedpools problems yesterday I lost about an hour+ of Mine time so that hurt but I still have about 60MH rented for another couple days and at the current price I have recouped 94% of my cost so far. Should make a few precent profit out of it, but not close to what I had hoped for with all the extra work! ( I made more on my XLB trades with a lot less invested quicker) I am happy I don't own the equipment as 2 of the rigs I had rented had failures (one the GPU blew, the other I believe a card died) Both owners compensated me for the lost time so overall still a positive experience but much happier to just rent then deal with equipment problems, and depreciation! Also enjoyed a much quicker ROI then if I had purchased the hardware (Which I couldn't afford close to what I rented lol) and can now wait for the next coin I want! (Was able to mine my 1 Sync lol)
Hey everybody, So Sync has been added to both Coinmarket Cap and Mintpal! Couple of biggies there, Still about 1 day left on mining (Although it was up to 240 GH) so lots of competition! Just wanted to point out: The last time I saw a coin with this % of volume compared to market cap was: So here's hoping we end up with a similar result!
