I agree with pretty much everything you said. Yes, BTS is better than BTC or Darkcoin. I am a "true believer," but I think you will find that most miners are not.
They will learn from losing money from Bitcoin volatility which is a feature for people who know how to do math and switch their money in and out with good timing. It makes no sense why someone would want to take a loss by holding their savings in something which can crash down for no apparent reason as has happened to Bitcoin in the past.
Until recently we had no choice. Now we are beginning to have a choice. The closest thing I've ever seen to Bitshares was Asicminer. It went from 0.1 BTC to almost 5 BTC a share, so let the profits of the early adopters of Bitshares act as a price signal for those who find out about it later.
They are A) trying to pay off their investment in hardware, and B) trying to pay for more hardware after paying their electricity bills. They are not "buy and hold" investors, for the most part. (Even the ones that are, might hold 10% of their earnings and sell 90% for fiat.)
I'm a miner and I can confirm this is not true. I want as many Bitshares as I can get. I'm not an industrial miner. I suppose industrial miners are always trying to buy new hardware and you're right about them. Additional of course people are going to pay off their hardware investment, but then what? The miners who are doing it right mine any coin which is the most profitable, but they also save some coins which they think will have a long term future.
If you don't have any savings you don't win at mining.
Now of course I am painting with pretty broad strokes here, and of course there are exceptions, but from my time in the scrypt and SHA256 mining world, the primary concern is ROI, ROI, ROI. Once ROI is achieved, it's BMH, BMH, BMH (Buy More Hardware). Mining is a source of income, they need cash flow.
You're not in that world right now though. Mining is seasonal. When Bitcoin is doing well then everyone stocks up buying new hardware, because all the alt coins are becoming so profitable.
But times like right now when Bitcoin and the altcoins are all in downward spirals the miners tend to look for places to store their wealth. They have two options, totally cashing out into USD and there are no dividends or interest in that or cashing in.
In the past miners cashed into various stocks like Asicminer which paid dividends. The stock had no problem experiencing growth as people kept buying it and holding it to receive the dividends. So this is not a completely new situation.
Today miners are talking about going into Litecoin as a way to protect themselves from the rainfall of stolen coins which will suppress the price of Bitcoin for months.
Rather than Litecoin, Bitshares?
A pool that buys an asset on the open market, transfers that asset to miners, and then the asset is dumped on the open market by the miners, has no net effect on the price of the asset, although it does bump up the transaction volume, which can be helpful.
Those miners are less intelligent than the miners who just hold. Of course miners have to cash some out to pay for hardware, but those miners would not choose the Bitshares pool for that. If you're mining on the Bitshares pool to get a payout in Bitshares then you know what Bitshares is for. Bitshares is a savings account, not a checking account, and when you want to get an immediate ROI why not just mine Blackcoin?
On the other hand after you've paid for your hardware already, now you've got a new strategy which is to actually start trying to save. The hardware has paid for itself, and now you see that you can get some Bitshares, and that these Bitshares will eventually be paying a dividend.
Smart miners who want to save can be convinced that Bitshares is the best place to do it. Less smart miners who don't save, they will be angry at themselves for selling the Bitshares which end up being worth $1000 later. It will not matter because Bitshares will continuously be bought by both the Bitshares pools as well as the people who discover it's the best place to park their wealth.
This is why it has to be part of a marketing campaign. Miners aren't automatically going to be smart and know how to save or know where to park their wealth. They have to be told that they should park their wealth in Bitshares.
And not industrial miners, ordinary people who happen to mine and who happen to mine successfully. Typically these people do other things besides mine, so mining is just some extra money they have sitting around.
One more note, there will probably be cpu miners out there who can mine with their laptops. These people are not industrial miners but their laptop cpu can still get them some Bitshares if a cpu coin is very profitable at that time.
Topic: How to make Bitshares mineable while creating buying pressure (Read 32015 times)
