Difficulty Rising


#66

Quantitatively, yes just over 100k zec transacted in the past month but with the total supply at 4.7M and over half that still untouched its not surprising

And try to relax a little bit
It’s probably going to get worse, we don’t need everybody freaking out


#67

Agree. Too much FUD.


#68

something strange things going on with antpool. gaining and loosing hash rate like no other pool. maybe some ASIC user that have no clue about what they bought, hopefully…LOL


#69

Its sad to see it happening to Zcash, But this is what GPU miners were trying to explain to new people buying ASICs. If you look at what happens with other ASIC coins, you will not be making ROI in 1-2 months once they start hashing on the network. Its was a con job how they started the pricing at $2,300 for the first 2 weeks just to see how many they could sell at that price. Then they reduced them to $850 even before they shipped the first batch.


#70

Actually GPU’s aren’t much better. Just calculate the ROI with about 0.20 $ per day. Needs some years as well. It’s simple, private POW mining is ending soon … The last hardcore POW mininers will be finished latest when ETH upgrades to the new Reward system…


#71

Your talking about the reward reduction and progpow before PoS? Should definitely be interesting
https://www.coindesk.com/ethereums-asic-rebellion-heats-up-with-new-effort-to-brick-big-miners/amp/?__twitter_impression=true


#72

EDIT (14.45 UTC September 11, 2018): A former version of this article described Kristy-Leigh Minehan as a GPU supplier. While Minehan’s business, Mineority, used to distribute GPUs, it is currently specializing in FPGAs.

Why trust someone selling you fishing rods while they fish with nets?


#73

I dont think GPUs are better off for ROI. Its more the fact they have been pushed off the network and what advantage did ZCash gain? Z9mini will soon be making .20 cents a day…We have lost thousands of GPU miners(decentralization), anyone with a computer graphics card could mine and make a little money while securing the network. Now they have all been replaced with specialzed hardware from china (centralization).

I dont see how this is healthy for the network. You took equipment that was available in most local markets and hundreds of reseller websites, and changed it to where you can only get the equipment from 1 or 2 sellers with limited quanities and long wait times. Buying a ASIC now is foolish, so new miners wanting in are going to be screwed.

Trying to fork would of caused work and might have caused problems, isnt this what the rewards are for, to help pay for research and development like this? Betraying the community that built it up and secured the network for almost 2 years is pretty low.


#74

We’ve heard this all before, making accusations of betrayal will get you nowhere, it was opt-in from square-one, all links are in the lets talk about asics thread, Ill say it again Zcash can still Fork, the focus right now is still Sapling, it takes time and that seems strange because everything else is a circus


#75

Why did they not just make it a ASIC coin with a ASIC algo from the start if they wanted ASICs securing the network? Noone seems to answer this question…


#76

There were some interesting comments back in that thread from daira on ‘how a fork would play out if ASICs dominated the network’, plus some code and insight regarding difficulty adjustment.

Basically, its possible, and thankfully left to smarter minds than mine.


#77

Well probably a lot of it had to do with there was no such thing as a equihash Asic 2 1/2 years ago just like how there was no Bitcoin Asic when Bitcoin first came out
Had there been I’m sure they would have picked a different algorithm
Moreover it was designed to be Asic resistant, not asic proof (they are different)
The important thing to remember is that it still could be possibly with a hard fork which would be based on research supporting its Security benefits over the current and not profitability


#78

Some of these people are genius and I too and grateful

Zcash is the future, this isn’t some other shitcoin community where the overall consensus is pump dump short
Literally its gonna take like a decade, it has to be done right


#79

People were too blind by dollar signs to see the reality of what they are facing now. All anyone needed to do was to go back and look at the difficulty curve for Dash. They would have learned quickly that ASICs are good for only one group and that’s the people selling them.

Bitmain is laughing and the ZCash folks essentially told everyone “who cares” by their inaction, making excuses instead.

I predicted the difficulty will be 20m by 1 Sep, and today it hit that for average difficulty, my prediction being 12 days too late. My predictions are that the difficulty will be 50+M within 90 days of when the ASICs entered service. It may be 105-115 days.

I had planned to buy 20 to 30 Z9’s 40k/h but scrapped the plan since I could not get them soon enough. By the time anyone who ordered them gets them now they may or may not see ROI. However, since the prices shit the bed, that’s another matter.

Maybe my same posts will reach some folks! Remember: if the difficulty is 50m, the Z9 40k will generate ~2.5 Zec a month. If you’re HODLing for a long, long time and don’t need to cover your power, then cool…but any other scenario is not a good one if you’re looking to profit.

https://www.coinwarz.com/calculators/zcash-mining-calculator/?h=40000.00&p=600.00&pc=0.10&pf=0.00&d=50713903.45132650&r=10.00145682&er=0.01712500&btcer=6336.52000000&hc=0.00


#80

I have 8 minis and need only mine just over 1 ZEC per month total to be in profit so I am not worried too much about that. By then the value will have gone up. I won’t buy any more though. The coupons on the 2nd batch were too good to pass up and were needed to break even on the 1st batch.


#81

You bought 8 z9 minis at around $800 im guessing. Zcash is worth $113.00 as of 09-12-18. How can you be in profit if you mine 1 Zcash a month total? Do you mean per machine, 8 Zcash a month? Even then, that is only $900 a month. You need atleast 7 months to be in profit at that rate.


#82

Only referring to electricity cost. By the time it gets to 1.5 a month for 8 minis I should at least be at break even.


#83

Batch 1 and Batch 2, mostly Batch 3, as well will break even mostly. The Batches after that will have problems to ROI.

Right now, 1 unit of Z9 mini is doing USD 7 after Electricity on my end. Of course and without doubt this will get lower as well if the price doesn’t raise. But than again, if the price raises at some point the current USD 9 calculation isn’t valid either if the mined ZEC aren’t dumped and i doubt anybody (private miner) is dumping them right now.

However, by now, i wouldn’t buy any new hardware, no matter if it’s an asic or a gpu, none will ROI anymore from now … POW is R.I.P for priavate miners in my opinion…


#85

@zooko How can you still make the claim that Zcash is decentralized when 2 companies can double the network hashrate in 2 weeks? Waiting patiently for your response…


#86

Good good, maybe they will finally stop selling it all on the market.