Difficulty above 22M now, ouch! I imagine a good amount of the recently shipped units arrived today after the long weekend.
I don’t know what world you think you live in, but we live in a form of capitalism. A corporation exists to make money, first and foremost. If they can abuse their customers and maintain the same profit or more, they will. If they lose money as a result of it, they’ll change or go out of business. If there’s a tonne of business and money to be made, new competition will enter the market. In general I see great business potential in their bad reputation - for someone else to come in and compete.
yep but we knew this would happen. We just hoped we would make a little first. I should hit break even point in November with the coupons at least. Only way to make money though is to HODL until a peak hits. Once it takes 3-4 minis to mine 1 ZEC per month I feel the value should go up.
Totally agree by now. It’s endless and while first batch mostly will ROI, batch 2 eventually, all these behind won’t ROI. It gets worse and worse for whole POW, no matter if Asics or GPU, none will ROI from now on with some first batch asic expections.
Seriously, i’am done with Asics and gpu’s … doesn’t make anymore sense …
How can batch 3 profit if they remove the ability to OC and don’t give out decent coupons? The only good thing about them not being able to OC is at least the hashrate won’t go up as much as it could have. Maybe you should try to mod your minis to go to 20ksol like the person in bitcointalk altcoin mining forum.
Why not change to XMR, its price will surpass ZEC soon.
Some equihash ASIC miners don’t want others to join and share profit with them , so they scare others by spreading difficulty increase speed.
Equihash ASIC is still very profit , I just order 20 units of Antminer Z9 from bitmain.
But can they run Crysis?
It’s not about scaring, it’s just reality, easy as that.
From batch 1 until now profit is right now below 1/4 nearing 1/5 of what it was some weeks ago. These are numbers everybody can check, it’s not FUD, neither scare. How many anyway do we reach here out of these 1000’s of equihash asics sold?
Good luck with the 20x Z9’s, lol…
The Z9’s are delayed too, which makes it a worse deal. They are still finishing them so it will be another week or two before the first batch ships.
Hope everyone who thought ASICs for Equihash are happy with the way things turned out. Cant mine with a GPU anymore, and only choice is to buy a ASIC that will never make its money back now that Bitmain released their older models and are spinning up the new more effecient ones. Thanks for kicking out all the GPUs and turning it into another ASIC coin that only makes pennys a day. Just what we needed more of.
@Lisfin I’m not convinced that forking to save GPU miners would provide any benefit to the Zcash ecosystem beyond boosting GPU miner income. It’s my view that Zcash Co. is aware that PoW mining is either dead or headed for a period of prolonged unprofitability, and that allowing ASICs onto the Zcash network might add some protection against 51% attacks from GPU miners if an excess of idle GPU hardware becomes available for rent or purchase when traditional mining becomes unprofitable for the majority. ASIC manufacturers and miners have more of a disincentive to attack the network since doing so could destroy the reputation of the underlying network and essentially brick their hardware.
Being a ASIC resistant coin is a huge selling point for some people. How many thousands of GPU miners did Zcash just turn away by not keeping to the ASIC resistant premise of the coin. I dont want my privacy coins only mineable by a few companys that can make the equiment and make it unprofitable to mine unless I buy from them. They have been known to mine with huge farms.
Its kinda funny that weeks before all the Z9s were to ship, a bunch of Equihash coins started getting 51% attacked. People keep blaming Nicehash but I have yet to see any proof or evidence showing Nicehash was the main cause. People keep claiming this because an article said how cheap it could be. If anything it was all the hash power of the ASICs they were selling so they were going to use them one last time while they dominated the market hashpower. Why were other algo coins not being attacked at the same time? Equihash coin after Equihash coin…odd no?
If you had the equipment, but only for a short time to anonymously steal tens of millions of dollars, you dont think some people would not try? AND if they were selling all the units they had, if the price of Zcash went to zero ohh well they made millions, and already had all the units sold 2 months before they ship WIN/WIN move onto the next coin algo. What a perfect time to do a 51% attack no?
EDIT: Also I guess my main problem is, why didnt they just make a ASIC coin if they wanted ASICs? Why use a anti ASIC algo and use GPU miners to secure the network, if they needed ASICs on the network instead? Then to say they never promised to be ASIC resistant and act like that wasnt being deceptive is a slap to the face. We wanted and were lead to belive this was a GPU coin.
Difficulty up 50% in a matter of days. This hurts
no more profit soon… even on Z9 mini…
The difficulty increase since the beginning of September has been exponential; with today averaging ~21.9M it’s gone up 35% in only 11 days. A miner expecting to see any kind of ROI on ASICs is going to have to be extremely patient (I’m talking years, not months) and should mentally prepare themselves to lose their entire investment. Right now it’s unclear whether or not Zcash will ever regain it’s previous highs, and even if it did it would likely not occur until after the first or second halving period.
whats the difference between hashrate and difficulty?
@Uche32 Hashrate is the speed that the actual miner is performing the algorithm in question, whereas difficulty is an adjustment factor that changes every block in an attempt to keep a consistent block time (2.5 mins for ZEC) despite fluctuations in the overall hashrate of the network. Using hypothetical numbers as an example, let’s say the total network was comprised of 10,000 Inno A9’s with the total hashrate being 500,000,000 sol/s or 500 Msol/s, and the difficulty was set at 1M to get a 2.5 min average block time. If the network grew by 5,000 A9’s and the hashrate increased to 750 Msol/s, then the average block time would drop below 2 mins as a result of the new miners, and the difficulty would need to increase proportionally (from 1M to 1.5M) to bring the block time back up to 2.5 mins. Without the difficulty constantly adjusting higher as the network grows, the block time would shrink to seconds or less, although the theoretical minimum block time is bound by the speed of network latency.
My prediction is that these ASIC miners will become obsolete in 90 days. The history with Dash is repeating itself again, now with ZCash.
My ZCash Node is reporting 1.2Gh/sec now, and just 3 days ago it was <800mh/s. It’s tough to watch and these absurd price drops by the day are an insult, sickening, actually.