After a promising start, I have shut down all miners for ZEC. At the current price, ROI is negative, just like all other crypto coins. For those of us who have to pay for electricity, this is a pointless game. I, like many of you wish I could roll back time to 2009 and be a part of Bitcoin 1.0, but the genie is already out of the bottle, and there is no way of putting it back in. Time to look for something new...
Yes, it's time for casual miners including me to withdraw from this vain game. Only platformers, rig parts sellers, mining pool owners, dev team, founders or scammers like cloud mining companies can make money
Agreed. The foremost problem here is that this coin does not do what was promised. The market is demanding a coin that is TOTALLY UNTRACEABLE. People were willing to absorb the dev fee in order to have that confidence. There should never have been "t" addresses in the first place, only "z" addresses.
I was thinking something like that. When a coin is not worth to mine it becomes a scam or an investment. You are delusional and scam yourself into believing that you will be ritch or you believe that someday your investment will payoff as now it does not. I see there are a lot of believers so the hashrate is going up.
I myself don't have money to lose or invest in zcash but as I tried mining a bit and I came to a conclusion that I don't have money to buy a rig, solar-wind panel or to loose money in electricity costs.
Now I am researching other coins that are NOT proof of work because I think mining is a kind of delusion that does not pay overall.
@Houdini What's your electricity cost per kWh? Mine is 0.16 cent/kWh and it's still profitable for me (although it has become a lot less than last month)
Still profit, with 0.10 cent/kWh.
As long as I can pay electricity + have at least some profit, I keep mining.
Prices on cryptocurrency have been up and down ever since.
0.3 $/kWh here, no profit
$0.53 profit with 1800 Sol/s and 0.3 $/kWh
Well. That's awefull.
$6.51 profit with 1800 Sol/s and 0.1 $/kWh
Good enough right now.
Who wants to buy a currency that every day loses 25% of its value, nobody. Who is responsible for this? The miners, miners, who mostly come from mining ETH and that their only objective is to sell at market price. Instead of complaining so much, the only thing that has to be done is to keep our ZEC and not sell them, is the only way to keep the price and stabilize the market temporarily. I also have to say that slow start, has not worked as it should. Definitely, mining is not profitable with this coin because it can compare ZEC cheaper than mining, the logic is that mining get more ZEC.
I hope the price will drop below 10$ in the next few days. That is when I will buy my zcash back.
And I could think of that there will be many that will buy zcash back at this state. This will empty the marked, and the price will rise again.
yeah I agree with you, if the price of the ZEC gets down to below $10, I too will probably buy some.
you are all delusional, this to get better is going to take years if it ever does (huge if), the gov is already clamping in this kind of coins, not to say that mining PoW it is a waste of energy (not economically viable). they missed the boat in many ways. for sure it will crash to very low levels, there is no use for it so far, the tech has to prove itself and all the other coins are going PoS, so stiff competition on all fronts, eth is stablished and will have a rebound but even eth is becoming non profitable to mine, lost of miners are selling the equipment. zcash difficulty was way too high also, they should have achieve some critical mass base of facts not hype, nevertheless I think that when they have some millions of coins it wold be worth jumping in and acquiring some k. not to say the price of it has been artificially kept high that is why is plummeting like that, i'll buy this coin at cents on the dollar (highly speculative), not putting good money behind bad one.
Sounds solid aswell.
If you put a sack of money into it you could be wasted in the future. For sure.
I put some money in the most promising coins. All in all, fo me it can not be a loss. Yah okay, maybe I loose time in maintaining the rigs.
On the other hand, it is a nice hobby for me.
The money I invested into the rigs was money I got from my grandma after she died. If I can make profit at the end, good for me. If I loose all that money, I still won't bite my ass on it.
But at the moment Zcash mining more profitable, than Ethereum mining.
please note that if you're mining to have your numbers perfect, otherwise you're going to cheat yourself.
don't forget probably the 1% pool fee, plus another 2,5% for claymore if you use his miner.
i guess rejected shares are also going to lower your ROI, although the amount of rejected shares should not be too high.
i'm new to mining and see my profit dropping each day. at first i was hoping that i could make back at least half of the amount that i did invest in buying some hardware, now i'm not so sure anymore if that will happen. yes, maybe if i keep on going tweaking and switching to eth for instance, but with only 3 videocards that i currently own i can imagine that sooner or later i will get tired of it, for just pennies of income.
for now mining with GPUs for me is still worth it. i stopped my CPU miners though, not worth it anymore, it would actually cost me money (plus i would waste my hardware)
I got 12 RX470 just a while ago, ans are still missing a few raisers.
There will pop up other coins in the future aswell. I am not calculating to make my ROI just with ETH ans Zcash. Trading the coins will also be a part of it.
If your power costs are too high right now to make profit, let them sit quiet a bit until the prices change again.
It is, was, will be. Right now it is a head to head race. Just check https://whattomine.com now and then to compare.
i had a 390, and just bought 2 470's (msi 470 8gb gaming x) a while back.
i must admit that i did get a kick out of this whole mining thing. just to be able to tweak performance to squeeze out the little extra ...until the moment things started crashing hahaha. now back to more watts again and it seems to be stable.
if i would just do it for the money then i could probably better have bought btc for that money and just hold it rather than investing it in videocards
trading coins is ok, but that does not make it part of ROI on the hardware itself.
No that's true. You can make some money with trading, but the hardware does not pay for itself anymore.
Then its better to sell the hashingpower to passwordcrackers.
My only issue is that it is not worth mining for a year, if for the same cost of hardware you can buy many more ZEC