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General Discussion / Re: bitUSD Mining is now live!
« on: February 09, 2015, 03:19:39 am »I thought piggybacking off of Bitcoins hashrate network effects would have been more profitable for us because:
a) Bitcoin is the largest Market and therefore is the most liquid. With other alt-coins we have to deal with liquidity costs. Sharing with the Bitcoin network would greatly improve our liquidity as well.
b) According to laws of perfect competition-- miners seeking a higher return would come to our pool as we are offering a risk free percentage back that they can't achieve anywhere else. As a result mining off of bitcoins network would provide the largest pool of investors directed towards Bitshares. The more miners that come, the more marketed awareness that is captured for Bitshares. Therefore the more capital (in the form of collateral and bitassets) would be kept within the Bitshares system.
How is mining alt-coins going to benefit us?
Besides the profitability...many of us dont have sha miners...myself for instance I have grids that can run dual mode but the sha hash is hardly worth it.