For the home miner like myself this is exactly what i need. The price is almost under 100 dollars and reward will soon rise ...this combined with many home miners giving up will lead to a rise in sales caused by big farms taking advantage and hopefully driving the price into the ground... i have my fingers crossed for zec under a dollar before year end at which point i will buy some and sit on them
hate? it is a statistical fact what is wrong with your perception? can't handle the truth? if he is responsible or not, his miners release and the current slump is in direct correlation did you fail math?
this thread is about the decline of ZEC prices... and I can not mention a direct connection? why not? what is with people not being able to talk about Claymore and his silentarmy windows clone?
I posted in 2 other threads to start discussion on what is happening Im not ignorant.. Im not blind.. and I'm not stupid
what i do not like is people attacking me for simply stating the truth... pretty popular thing to do around here recently are people that sad that they can not accept what is really happening around them? they can not accept what they can plainly see? that is bad.. the lemmings will walk off the cliff
honestly who cares, no one is using this forum anymore... ill be gone soon too... better things to move on to at this point
Well the fact is they happened at the same time. It is possible that Claymore was a factor, but it also could be the accelerating supply and no demand for the coin at this time on top of the zwallet issue causing people to stop holding and sell. There was already the silentarmy miner which had similar hashrate so I don't see why Claymore's release would make such a big impact. We don't know what the exact causes are, all we can do is assume.
No. Depressed price in this case is caused by botnet operators having zero cost base and selling at any price. There are also huge AWS instances running (Carded accounts or black market credits). Together they make up prob 60%+ of the hash rate and will dump as long as there are buyers.
The key thing is that everyone who has a NEW modest home computer (not the wasteful xeons and i7-6700k) is making more ZEC per dollar in capital (zero) and electrical expense (1.5 W per S/s) than all GPU miners. Profit today with average good GPU miner paying 3 W per S/s is 2.5x their electrical expense. 3x more ZEC/block is coming, so price will fall to $70 per ZEC as things are well balanced today at $210 per ZEC. As more GPU people get to 2 W per S/s, price will fall to $50, excactly what the futures contracts said before launch.
On a new laptops with 6 threads running, you won't notice much performance decrease and it will be a while before a GPU can do it with less electricity than a CPU. Since all solvers on GPUs are mostly just instances of the CPU algorithm copied many times, any improvements in GPU hashing per watt used will decrease as they try to make the code parallel instead of just multithreaded. New laptop is 1.5 Watts per S/s. Best GPU by a reliable source is nearly twice as good as SA and claymore at 100 S/s on a gtx 1070 with special work that's not for sale and gives 1.2 W per S/s. If that becomes the standard, $35 per ZEC is the final price. Any strong demand for the coin will simply bring in more ETH miners again, keeping the cost to produce high. So it might return to $100 in 6 months, but GPUs will not make more than they are making today. Your profit is how free you can get your electricity. Like a botnet.
To all these noobs talking about ZEC price: Price is going down because miners are dumping it and selling ZEC for highest buy at that particular moment. It's not because of demand. You have over 1800 BTC volume daily. Remember , if you want to sell there needs to be someone who is buying. If miner would just for one day, wait for their hunt , and not selling it in panic, the price should go up to 3 BTC in just one day. Remember noobs, seller is one who determines the price. Buyers determine prices only if sellers are stupid or in some problem (needs to sell NOW! ) Thanks Cheers
It's always supply and demand. The only strange thing is how dumb the buyers have been. And yet, that's still not completely true because there are dumb sellers like myself who did not sell which helped support the price. I had $600 worth after my first 36 hours, did not sell any, have kept mining at the same rate now for 7 days more, and now the TOTAL is worth $200 and my electricity expense, less than average GPU has been about $70. 3x electricity is where it will stay because that's equal profit to ETH, so $70 per ZEC is where we are headed as the ZEC/block keeps increasing to 10.
In fact Ubuntu is not so perfect you think mate. Do you remember problems with Geth and ETH mining few weeks ago. All Linux miners was fucked up for 1 day and in this time win users was mining with no problems so.... ubuntu is not perfect.
I am really happy that claymore released his "private" miner to the public, even if it is closed source. The reason is that it got open-source community out of its "slump" and now everyone is trying to replicate the increases in hashrate.
Trust me, @cryptomined, it will be MUCH worse for everyone if no one ever KNEW about the possible hashrate improvements, and instead, they would have been sold to private miners with large farms. We should all be thanking Claymore for making this information known and available.
@DanLar75 is correct as well. Continuous GPU miner improvements, whether closed or open source, reduce profitability of AWS and CPU botnet operators.