Game Theory : why the price is diving

I'm no expert on crypto market.. but IMO it seems, in game theory terms, miners are flooding the market with zcash (at any cost it seems) driving the price down. That is too bad because counter intuitively, if miners held longer it would reduce supply on the market and keep prices higher longer. The Nash equilibrium here is that no miners feels he has anything more to gain by holding Zcash but more to gain by selling as fast as he produces.

All that is very obvious I'm sure . Miners should take a page from DeBeers (the largest diamond producer): There's an over supply of diamonds, but DeBeers keeps prices high by hoarding.

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Thing is though people want to try and claw back as much as they invested whilst the price is sky high and then just work on capital afterwards.... as crypto is unpredictable no one wants to take a chance unless your playing with back pocket change of course.....

because it debut at 3000btc only way it's going to be is downward until it stabilize.

Is it stabilizing yes -downwards- eventually in accordance with supply and demand.. with miners constantly selling their mined zcash, price is dirven down.. My point still stands, unless miners hold, price will trend down..

ZEC hype.
People buy cheap gpus ( 7950's)
Claymore releases miner ( i hate you)
People get 50h/s
Noob miners sell 0,01 ZEC on poloniex for the lowest price possible just to get it sold.
Price is crashing.

No science here. Dumb people,too much ZEC, price crashes.

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better question would be - why someone would buy zec? if there is no good reason noone will buy but with mining everyone want sell

Thats the biggest question with every alt-coin.

The only coin that has any use is Bitcoin. And monero if you wanna buy some guns or i dont know what on the deep web.

Bitcoin has no real use too, it just was first coin, is most mature and widespread. There are some intresting coins, like connected with boinc, where you can buy with coin processing power, that could have value, cause corp could spend some money on it, or that coin what have contracts on disk space, it have value, but coin just for generating heat ... the only purpose is global warming?

I see where you are coming from but i would not really agree on the fact that bitcoin has no use. If you give me 1btc i can go on alibaba and buy myself a new iphone.

If i give you 1 zec,eth,etc what are you gonna do? Go to poloniex switch it for bitcoin and go buy stuff with bitcoin :slight_smile:

EDIT: I agree on the global warming. the heat and electricity used for PoW is insane. Thats why new alt coin switch to cpu mining or PoS sooner.

Exactly: it explains recent rise in BTC price: miners are creating demand for BTC when they convert Zash --> to BTC

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Wise words from a wise person..
miners are killing the market.
I do sell zec that i mine.
But only to cover the power bill:)
It will go back up when the whales get all this low zec.
Over 60 zec is for sale on polo for 2 btc and it's growing as we speak. So something must be going down for them to still be adding zec at that price..
Yes it a rist to hold. So is my 401k but you don't see me pulling it all out when the market falls.

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in my country you can almost nothing do with btc, and even you send money from your bank to market for exchange bank will block your account

Are you from north korea or what? :smile:

then use PayPal.
No problems with that.