I get it. The price of your coin(s) fall dramatically and someone needs to be blamed for it. The easiest group to blame are the miners. If your coin is a PoW (Proof of Work) coin then the blame ends up always going to the miners. It makes sense. They bought GPU cards or ASICs and so the electricity has to be paid for. Also, miners need to ROI on the hardware they bought otherwise they lose money. So, when the price drops it obviously has to be the miners. Well... this is wrong.

Someone recently brought this up to me when talking about Zcash and so I think we should look at some stats. The conversation centered around Zcash needing to go PoS (Proof of Stake) because PoW has too many issues. One of them being that all miners just sell off the coins they mine. They are not HODLing the coins and that is a reason why Zcash is not where it should be price-wise.

Well lets run some numbers then. Right now, before the halving, there are 5 ZEC minted for miners every block. Block time is 75 seconds. So, there are 86,400 seconds in a day and if we divide that by 75 and we get 1,152 blocks in a day. 5 ZEC per block means there are 5,760 ZEC minted for miners per day. Sounds like a lot right? Well how much ZEC is traded per day? At the time of writing CoinGecko has a 24-hour volume of $642,520,799. Divide that by the current price of ZEC $58.22 and we (roughly) get 11,036,083.802816901 ZEC traded during this 24-hour period. 11 million ZEC traded in a day and only 5,760 new coins minted per day. If all the coins minted were sold off that is only 0.000521924% of all ZEC traded in this day. This is an insignificant amount.

You can do this for any coin on the market. Go ahead and crunch the numbers and see what the result is. The market is so much bigger that the miners. Miners play different roles than deciding on what price a coin is going to be for the day. In fact miners can't play a significant role in the markets on a daily basis. The numbers prove this out.

Don't get me wrong it still sucks when prices drop. Especially if it is a big one, and lasts a long period of time. The best thing we can do, if your aren't a trader or don't know how to do TA (Technical Analysis) well, is to see this opportunity to buy at a lower price and get a little more of the coin you want to save for later on. This is much better than being angry at someone who can't control what you're angry about.