Do u think a roi is possible if buying cloud mining? Also lets say each gpu would get 20 h/s that are 5 gpus for 100 h/s which costs according to GM $8.666, with 8k i can buy like 16 r9 nanos instead of just 5 gpu GM would offer. Things might differ some but just giving the overal picture imo the price is too expensive.
What you are forgetting is, that you can use a maximum of 6 GPUs on a rig. Youâll also need a motherboard, core , ram, psu and the like, so youâre actually building a full machine. Add to that, that you need a space to place your rig, itâs getting damn hot (from experience), loud and you have to fiddle around with the actual software to get it working. And then you still have to see if you actually can beat your electricity bill through mining.
I had my own rig for ethereum mining with a bunch of 380s, but without a good place and good power it essentially is only a system to support the network itself, especially if youâre not mining with a pool. Now, Zcash is different, as itâs never been mined before, so it could be damn profitable - But as gareth said - itâs not possible to predict. Heck - the zcash launch itself might fail!
GM seems reliable regarding Zcash, not so sure about their Bitcoin contracts (because the difficulty of the coin is just too high) but if you do the calculations with any cloud service, you will soon notice, that of course they take their share for the service, but doing own mining is a heck of a job as well imo. Zcash is the first coin of itâs kind thatâs fresh and at the same time so popular even before launch, thatâs the real thing people are betting on.
I recommend everyone to do own research about mining in general and how it works and what the challenges are. As in everything with life, you should not invest into something you donât fully understand, itâs just like that.
Edit:
I want to add: If you have the space and money, building anown rig is damn fun if youâre into it. 
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With $8000, you can buy 40 of the RX 470 4GB ($200) which is the most efficient GPU on the market today.
Those GPUs are almost silent and they are the most power efficient. So unless you pay like $0.40/per KwH power shouldnât be too much of a factor.
Only reason they are selling the cloud mining is because each of their GPUs wonât make any more than ETH mining currently gives. In the case of the RX470 its around $1.60 per day. So instead they take around $2000 up front for that GPU because they know when the dust settles the profitability for that GPU will equal roughly to that of ETH mining since many miners will shift their rigs over.
So instead of earning only $1.60X365 = $584 (most likely will be less since difficulty will keep increasing) they earn $2000-$3000 for that GPU. So basically they make 500-1000% more by selling the cloud mining.
Then in the end they get to resell those GPUs on eBay and recoup 50% of their costs, while with the cloud mining you donât get to keep anything.
Iâve been using the x11 contract for about a year and when dash took off it payed pretty well. Hoping for the same here.
Whatâs the hashrate of r9 290 or 280x with your gpu miner ?
But who says they are using rx 470 4gb cards for zcash mining?
Well , first you want to see if you want to do cloud mining
because if you a pro miner cloud mining is definitely not your most cost effective option.
But if you are not a miner and have the money to risk , i guess the best option for you is 30 H/s contract of gm
it might pay back its original investment very soon
How do u know it might pay back soon, do u think its worth it? i was thinking to buy 100 h/s not sure, do u think its better option than buying on exchange for the same amount?
Just buy some GPUs and mine it yourself. At least you get the keep the GPUs.
did u mean 3 instead of 30?
No 30H/s and given how quickly things are progressing Iâd imagine further improvement is likely e.g. see this which is ~3.4 H/s on a CPU GitHub - davidjaenson/equihash (and there are plenty of other examples here).
[quote=âCryptoshaman, post:43, topic:2454, full:trueâ]
What you are forgetting is, that you can use a maximum of 6 GPUs on a rig. [/quote]
Not necessarily. I have some rigs with 7 or 8 cards. Itâs even possible to build 10 card rigs though you end up paying more for the motherboard and cpu to support that than just another mobo/cpu.
[quote]
Youâll also need a motherboard, core , ram, psu and the like, so youâre actually building a full machine. [/quote]
That stuff is fairly cheap if you know where to look and buy in bulk.
Cloudmining is for people who donât understand difficulty increases over the course of a long term contract and why long term (more than 3 month contracts) are suicide in terms of ROI.
I would never recommend Genesis for anything as there are plenty of youtube videos advising against them. A good example is what they charge to mine ETH.
They could charge half of that and people still wouldnât ROI.
I started out with one rig mining Ethereum last September and now own a facility of just over 100 rigs.
When you own your own rigs itâs easy to reinvest and scale up. With cloudmining itâs nearly impossible to do that because it is designed to be that way.
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@cascadiacrypto if people like you join zcash mining its hard for newcomer to get a chance to get ROI (difficulty). So thats why I hope there will be no stable miner for first 3 Month ;-), and go first for CM.
After that I will build my own rigs if its profitable and difficulty is not allready too high.
Which motherboard with 8 card support do you use?
Thanks.
[quote=âxfcash, post:54, topic:2454, full:trueâ]
@cascadiacrypto if people like you join zcash mining its hard for newcomer to get a chance to get ROI (difficulty). [/quote]
Not necessarily. When I entered the Ethereum mining game there were already plenty of huge GPU farms which had been once used to mine Litecoin before they boxed up their cards in favor of ASICs. As the Ethereum price rose, those farms who had not sold their cards put them back to work.
It is likely to be the same way with Z.Cash, as long as Ethereum and/or Monero is more profitable for large farms to mine it is unlikely you see a mass exodus from Ethereum or Monero to Z.Cash. It may simply be a gradual process as the price goes up. The reason being, big mines canât really afford to speculate like hobbyist miners. If it isnât profitable itâs not paying the electric bills/facilities cost.
Even as late as this spring it was still possible to ROI on mining ETH with an ROI of between 72-90 days depending on how cheap your power is.
So donât worry, if you start early and are committed you might be able to scale like I did if Z.Cashâs price lives up to its promise.
I also helped one of the Open Source Miner Contest entrants by sending them a card and mobo to help develop a GPU miner available to all at launch. So even though I am well equipped I want to give back to the community.
[quote]
So thats why I hope there will be no stable miner for first 3 Month ;-), and go first for CM.
After that I will build my own rigs if its profitable and difficulty is not allready too high. [/quote]
Youâd be better off going for the rigs now. Even though a lot is up in the air regarding the efficiency of Z.Cash GPU mining and any future price projections are speculation, thereâs always something to hash away at mining. I wouldnât fear us with modest or large sized GPU farms. Our hashrate will help to secure the ZCash blockchain which will quite likely help itâs price.
Several. Mostly MSI gaming mobos. Socket 1150
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So Zeropond just made even more improvements to their contracts, is Genesis planning to also provide improvements to their contracts?
Yes, we do! Here it is!
Just last week we tripled the hashpower for every single one of our Zcash customers at no cost to the user! Today, we are glad to announce that we did it again and doubled the hashrate of our mining rigs! That means we now increased the hashpower already by a factor of 6 since our offer launched and are updating the prices respectively.
Our team is working day and night to ramp up more capacity and expand our operation. We are doing everything we can, but given the current demand we can not guarantee to keep the sales open until the launch so we advise joining soon for those interested in a contract before the launch.
Hereâs a bit more info on the updated pricing for you as well!
If you have already purchased an account, you will see the upgrade soon if not already! If youâd like to buy a contract head over to Bitcoin & Cryptocurrency Mining Contracts | Genesis Mining
Thanks for your support!
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Wow, you guys are GREAT⌠you are KILLING the competition with this prices! Keep up the good work!.. Go ZCash!
@Genesis-Mining whats your hashrate per GPU (namely r9 280/290x) ?
@Genesis-Mining
We would like to know more about your operation. Please answer as much as you can:
- Will this farm be anywhere near as large as Enigma?
- How many GPUs total are dedicated to Zcash? (or expected to be by launch)
- What is the primary GPU used? (If you canât say exact model, at least clue us whether R9 or RX line)
- Is there automatic failover? If not, how is it handled if the miner that my 60H/s is on dies?
- What % of your farm is dedicated to backup hashrate?
- What % of the farm will be private mining? Iâm sure some owners/investors have their dedicated portion.
- If contracts are left unsold, will those miners be run or powered down until hashrate is purchased?
Iâm trying to gather as much information as possible to determine what the Zcash network will look like.
All details help. Please and thank youâŚ
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Genesis, would it be possible to add in a balance total portion to your dashboard? For those not wanting to use Linux and are waiting for a Windows wallet, this way they would know their total mined.