Let’s talk about ASIC mining

The day finally has come … right now i have stopped mining and shut down my whole mining operation facility. Just doesn’t make anymore sense …

I’am done feeding hardware producers, electricity companies and mining pools …
Additionally in my country electricity prices went up a lot these days and will mostly hit 0.2$ now… No way someone can compete with miners that have access to 0.02$ per kw/h electricity prices…

If someone is interested in 4x Z9 minis including PSU’s hit me up with an offer. I’am located in the EU, means shipping outside the EU doesn’t make to much sense at all…

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Hodling now would be a lot easier if we were earning profits from PoS, am i right ?

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Actually that’s what i’am doing now. The last month i exchanged most, actually nearly all, my POW coins into POS coins. Even thinking if i should keep 50% of my portfolio in BTC at all :thinking:

Even my ZEC holdings went from my #2 coin to #15 coin in my portfolio.

Today, right bevor i switched all my mining units off, including the last GPU’s it was around -40$ daily, just doesn’t make sense. Meanwhile with the POS coins i hold at the current prices i’am around +15$ daily with the todays coin prices.
Important is that there are no more any expenses expect some 100-200W for the laptop running with the POS wallets.
Having in mind all the costs affilated to POW mining operations:

  • working hours for maintance and cleaning.
  • working hours for setups, changes, switching, fine tune, whatever, don’t underestimate these, it’s a lot of working hours.
  • ventilation, in my case 6 big vents with 250W each for intake/outtake air.
  • Hardware and PSU failures, replacements
  • Travelling to the mining facility itself, not that it’s much but per week i safe about 50km travelling which again are expenses over a year.
  • no more buying hardware and paying for shipping costs, custom taxes and fees, bank wires, and all the other costs involved with hardware buying.
  • no more high electricity costs. This one makes me most happy as it’s the most useless and biggest expense in the whole process of POW mining.
  • No more amortization of hardware.
  • i can use my 50m2 mining office for other things now
  • and some other expenses affilated with POW mining.

And most important i can support the coin of choice now directly without sponsoring:

  • electricity companies
  • mining pool centralization
  • hardware monopolists
    and these points actually make me most happy to be honest.

Of course, it feels a bit like a divorce, lol, but than again, if you decide to divorce it’s for sure with a good reason and for the good, lol.

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Damn that sucks 20cha

Actually no, it’s ok and for the good :slight_smile: I allready should have made this step 10 months ago, but you know, sometimes you don’t see the forest due all the trees :joy:

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So what’s the total value of the the POS coins you have to make $15.00?

Right now with todays low prices about a bit below $10.000 for these that stake allready and give daily rewards. Not including these where i don’t yet get stakes because i didn’t reach the minimum time needed for holding the coins to begin staking, like on NEM for example…

I will have a clearer picture next month ones some other coins begin to stake as well and when i finish the conversation process from POW to POS and BTC to POS…

Just in case you want to compare it to mining … just compare, i personally, even if the output of $15 seems low i feel way more comfortable now…

I closed down Yesterday.
Dismantled the rigs, they are waiting for better times.
ATM only playing with traderbots, gets me more then mining did the last months.

And playing with Gulden a bit, seems to hold out strong for the last months :slight_smile:

I want to learn to use trade bots
what bots are you usking ? gunbot or something ?

Still going strong at about 510k sol/s, mining about 1.2 ZEC per day at current difficulty. Haven’t sold any mined coins to date.

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Thank you Sir. Just wanted to know. To me does seem to low. But that’s just how I feel. Now if it was say $27.00 a day I be happy. But that’s because of the $10,000.00 investment.

It is low, but at the current prices what isn’t low at all?

But than again, how much reward return would you currently get if you buy for $10.000 hardware right now?

But seriously, the most important part for me now is that i feel just … better. All i’am dealing now is the project without anymore any 3rd persons/companies involved taking big shares of the pie … But that’s just me…

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im glad to hear it. your posting style seems more relaxed too. tbh, I got a similar feeling when I went full monero.

But as a project, conceptually and on a technical level I really like zcash, which is why im still here :slight_smile: quietly doing stuff in the background that may or may not prove useful.

good luck, and keep up with the posting. I like disagreeing with you :slight_smile:

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I use a personal 1, a m8 of mine made it.
Used others before, but be aware, just like random miners from the net, check em, do sandboxes.
In the end the trader is as good as your input, that acounts for all Trade bots :wink:

Im guessing it costs about $30 a day for electricity.
$30 a day
$210 a week.
$900 a month.

Currently ZEC = $60 usd. Just some numbers to think of when the prices are this low.

You could be buying about 15 coins a month for the price you are spending on the electricity.

For the price of your hardware($2k X 10(z9s) = $20k) you could of bought around 330 coins.

At the current rate of 36 coins per month, you would have to mine for 9.1 Months to break even.
(36 per month) x (9 months) x (60 per coin) = $19.4K usd

HOWEVER electricity cost during those 9 months (9 months) x (900 usd) = $8,100 = could of netted you an extra 135 coins.

If you were to mine them you would end up with…
Mined them, NOT including electricity = 324 …(36 per month * 9 months = 324)
Mined them, Includes electricity cost = 189… (324 coins mined) - (135 cost of electricity in coins)

If you were to spend the same amount of money on coins right now, vs what you get in 9 months mining…
Bought them = 330…($20k from hardware) / (60 per coin ).
Bought them = 135 …($8.1k in electricity) / (60 per coin).
Bought them = 468…($20k from hardware) + ($8,100 in electricity) = $28,100 / (60 per coin) = 468.

You could have about 468 coins right now in your wallet vs 324 in 9 months, and if difficulty doesnt go up, also you have to sell some of them to pay for the $8k electricity bill. You can even DOUBLE the price of zec and it would still be wiser to buy the coins vs buying mining hardware right now.

For people looking into mining right now, your much better off buying the coins and selling them in a few months when they go up in price. Then buy some miners with that money if your still interested in mining. Right now is a great time to buy some low priced coins, dont try to mine them.

NOTE: When buying the hardware, you do own the hardware and can resell it for a price, however ASICs lose value faster than a brand new car. You will most likely not be able to resell them for anything more than 20% of its value in 6 months,so you can add a few coins to the mining numbers if you plan on selling them later.

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I was surprised but not displeased to see a Z9 Mini auction for $685 yesterday. https://www.ebay.com/itm/Bitmain-Antminer-Z9-Mini-10-16k-Sols-3-of-3-with-instructions-to-OC-if-desired-/202526970465?oid=202526963931&autorefresh=true

hopefully we can squash ASICS soon. The less centralized the mining the better.

Ideally most of the coins should be mined with ordinary hardware, unfortunatily zcash uses the same flawed distribution model as bitcoin instead of increasing the time between each halving (you can use fibonacci numbers).

The issue with PoS is the cost of lost liquidity Nothing is Cheaper than Proof of Work | Truthcoin.Info

Let’s be real: decentralized scalable cryptocurrencies isn’t possible, it was a fairy tale.

Bitcoin has been asic mined for a long time and it’s still #1 by a huge margin.

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Merkle Tree Proof for ASIC resistance? :thinking:

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I’m in Canada, so it’s about $20 CAD (~$15 USD) per day in electricity.

To date I’ve mined just under 300 ZEC, but I spent about $60k USD on hardware. For comparison, at that time the price of an A9 was about $5000 USD plus taxes and shipping and one ZEC was trading at $200 USD.

I recently purchased an additional 500 ZEC.

I agree with you 100%, mining is a terrible investment and the price of ZEC would need to be north of $200 for me to break even on my hardware. However, I’ve always said that buying coins outright is a better investment, even before I purchased ASICs. The truth is that I wanted to continue actively mining ZEC for the next few years and I never had any intention of selling coins until 2021 at the earliest.

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