Hello! I’m from Bitcoin Candy community. We are trying to solve the problem that some miners dump all newly generated coins. When Candy grows, it becomes immediately too profitable to hold it and some miners constantly dump it on the market. This interfere with the growth that the rest of the community want. We think that Bitcoin Candy deserve better future, and not this. What do you think all miners these days are only interested in get rich quick? Are they only looking at the daily profit? How to find those miners who will be interested on holding Candy and not only dump to quick daily profit?
From what I’ve seen very few miners are dumping all their profits every day. Part of this whole crypto process is that the users are the ones with the power, and not the “companies” that control everything, so people selling off coins is just a fact you will need to deal with. This happens not just with crypto, but with the stock market as well. I would think the best way to prevent dumping is to offer a hybrid model where people can also stake their “candy” and then require a lockup period. Or send your coins to me and I’ll hold them for 2 years before selling.
Hey Candy. I find some moral conflict within your post. I agree with the other comment about exploring more options already available across the crypto-sphere.
Let me try to explain it like this. I’m in a trade group, we would consider information about certain miners handling, transferring, trading or dumping what they have mined to be “insider information or insider trading”. That said, Privileged information. So I feel your request to orchestrate a collective mining trade idea is asking a little too much. And I also feel it comes from the idea that miners are somehow nefarious in there native actions.
Miners are the back bone of crypto (real crypto). They literally make the coins you are trying to grow the value of. If a miner chooses to liquidate or hodl is up to them. “Decentralized”… When you propose orchestrating a collective/centralized Idea you are advocating against the tenants of cryptocurrency. Your “community” exist to serve community members first. Controlling production of your communities cryptocurrency seems a little like artificial price fixing.
And lets roll to the idea that you are asking businessmen/investors (miners) to change there business practices to your coins specific benefit, without even considering their investment, investors or there own person needs.
The system that exist, and has since Satoshi Nakamoto created it, has worked perfectly fine leading up to today.
I don’t mean to be harsh. I appreciate what you are doing. Being a Member of a coins community is honorable, in my opinion. So I’ll pitch you a real idea you can bring back to your community.
On Moralis make a new Poly coin (wrapped, erc,bep,poly, w/e). Keep this coin private to community members only. Have members invest with cryptocurrency to give the new coin adherent value, lock the investments (coins/tokens) into a binding Smart Contract on the Poly network that perpetually re-stake’s. Once locked, the value of the new coin can act as a stable type coin that you can now use as backing/collateral for other Smart Contracts that your community will create (and vote on) to allow CDY to be staked. The Smart Contract Investment return rate will dictate your CDY staking return rate. When a Staking Smart Contract concludes, the Smart Contract then takes the growth of your Poly/new token and buys CDY and distributes it to the addresses who staked the CDY.
I hope you see, that’s a multifaceted way to increase CDY value by just existing.
Cross-Blockchain/network with Smart Contracts is 2022.(IMO)
There you go, a way to add inherent value to your communities coin. Hit me up if you need more info on that idea.
Currently, we decided with the community to run “pool protection plan” to collect surplus for dev need from pools fee. This give an opportunity to regulate supply and sell pressure, but miners still get a lot to dump. There is no agreement and desire to further limit emissions. I just see the problem that almost all of miners are working against coins which they mine. Satoshi original idea was about the fact that the miners who mine the coin should take care of it, protect the coin with there hashrate in difficult times, but it works exactly the opposite now
I don’t want to sound rude, but no, this days it’s not working the way like Satoshi Nakamoto conceived it. Almost all miners working against coins that they actually mine. They only want USD or BTC profit. Thus, they do not take into account the interests of investors, old holders and community members. Currently, we are at Bitcoin Candy considering mining only as a way of distributing coins. The simplest way for some to join, because it does not request to invest money and deal with exchanges.
p.s. I will return later with other part of the answer about decentralization, your valuable feedback and suggestions. Currently, little bit busy and it’s hard for me to write a big posts
I think you being on these forums is also a good step to getting people to hold their coins and believe in the project. New coins are coming online by the hour, and for the most part, nobody knows anything about them, aside from it might be a way to make some quick money. The more involved you are in the greater crypto community and communicate with the miners, the more people will want to be a part of the project and make it a better coin.
Right thoughts! But it’s really hard to visit and monitor different resources…
And as I see after I tried to find some more miners almost nobody interested.
No activity at crypto board & mining. A lot of people have gone from real coins to NFT&tokens…
p.s. Happy New Year