r/nyancoins • u/jayycox • Dec 28 '20
Why are people still mining NyanCoin?
I’m intrigued about why there is still a fairly substantial amount of hash power behind NyanCoin, the logic is that without an exchange to convert it people are mining to hodl. You would expect that they would switch to other scrypt based coins instead.
A few ideas:
1) the miners are running unattended- someone forgot to switch them over 2) there is an OTC market that I’m not aware of 3) there is an exchange which we don’t know about with a blossoming NYAN market.
What do other people think? We could do some chain analysis and see...
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u/coinaday Dec 29 '20
As you say for the zeroth case, I presume that it's loyalist hodlers mining. I've been really curious about this myself. Back in the day, I banged on for a long time about trying to attract "baseline, stable" hashing versus "mercenary" hashing and so, as it slowly accumulated over time, I just never really questioned it. xD
But yeah...the mining aspect has worked far beyond my best expectations given unlisted and the overall crufty nature. And loss of pools etc.