Any point in home mining?


#1

gents,

with the price of zec coming down fast . likely hood is that we can buy them soon for cheap. whats the point in mining u less you do it for fun ?

onky people that can make money is the ones who get some zec on forst cpuple days when its worth alot

what is it forecast to settle at ? $1 ?


#2

Impossible to know where Zcash will settle at.

As for mining profitability; if you are a small miner I would advise joining a reputable pool. Solo mining at this difficulty is like playing the lottery, odds are you won't win anything, but if you do the return could be significant.

If you are in Zcash simply to make a profit then play the stockmarket. My machines are running to support the network, if they return a profit that is just icing on the cake. :birthday:


#3

ZEC is trading over 1BTC even now. Of course it's coming down! I have high hopes for ZEC, but nobody would expect its value to supplant bitcoin in 48 hours.

No, what's happened is that the initial prices have been driven by scarcity, which is a side effect of the slow start.

There were only approximately 100 ZEC in existance after the first 24 hours and by volume every single one of them was traded many, many times.

At the end of the month when we're seeing 7200 ZEC produced per day, it will be more realistic to expect a price that is fractions of a bitcoin. That won't be an indication of failure, and it won't mean anything for miners by itself.

Whether it is 'worth' mining will be due to a comination of factors, value of individual coins being only one of them... and we will all have to wait and see how that turns out.


#4

what benefit do you get from supporting the network though ?


#5

thanks for this.. i keep at it for afew months then make a decision . im all for " doing it for the cause " etc but no point if no return


#6

gents

Not sure why you assume we're all guys here.


#7

Due to the slow start and price to BTC, mining right now at 20 Sol/s with an electricity cost of $0.10 KWh is going to give you a profit of $0.03/hour or $4.29/week. Don't quit your day job.


#8

ditto, im a dog. but no one knows this cause internet.