Price Speculation


#5077

Inflation is important for store of value.

Yeah well that is one big IF. You need daily investment of 820 000$ if all the coins mined that day go to exchanges.

Again the amount of coins in circulation is less important than inflation in terms of coin being good store of value. After the first halving things will improve, but we have to wait 2020 for that.


#5078

imo, market has absorbed the inflation fairly well, and we’re close enough to halving that it really isn’t a big deal. also think people will have less of a negative opinion on inflation rates after we get a couple bullish market cycles under our belts.

edit - i did misunderstand the reason for the edit.


#5079

I’m dumping all of my zcash.

I started buying zcash last year as I got into crypto currency.

I really liked the technology and the fact that at the time it was called asic resistant.

I really liked the idea of decentralization and the narrative that I absorbed from the bitcoin community was that ASICS centralize in China due to electricity cost.

So I initially started buying - maybe hoping for the next bitcoin like many people.

Eventually I wanted to “do more” so I looked into mining. Built my first “rig” with 2 1080 TI in SLI.

After mining and holding for a month I started building out mining rigs.

All financing both through my paycheck from work.

All in, I got upto about 80 GPU (mostly 1080 TI) and a reasonable amount of ZEC saved.

I was always told that miners protected the network in exchange for a reward.

When the ASICS first appeared - it was doubted by many that they were real.

I watched my farm barely break even from the electricity costs.

Then there was no word from zooko or the foundation about if a fork would be made to prevent asic take over.

I feel sold out.

I’ve dumped all my zcash and sold about 24 GPU. I have bought 2 z9 mini and a A9 which I will dump the coins and buy other coins I want.

You turned mining from a hobby / project worth being involved in to just being a business - which is fine.

Now I mine your chain because it gives me the most satoshis / watt / day and I buy a different coin.

Through the reports of censorship and over moderation combined with the drastic decrease in price while devs are saying they aren’t getting paid.

Then you have zooko flappin on twitter about how it’s nice to not have to worry about money anymore - are people really surprised at the price?

So I can’t speak for anyone but myself but I’m pretty sure I’m not the only one that feels burned over the last 12-16 months by this team.


#5080

We reached 120$ :wink: 20 char


#5081

smh, should’ve waited until at-least october, imo. good luck!


#5082

I’m pretty sure SLI produces negative results when mining vs gaming. Just a heads up, even though it sounds like you’ve moved away from GPU mining.

I believe not holding any Zcash long run will be a mistake, and I’m sure someday you’ll look back to this post. I was also mining Zcash, but I knew the risks and positioned accordingly. I totally get where you are coming from, but I think abandoning all hope isn’t the best call. Miners felt the same way with BTC as more advanced ASICs hit the market, and look where things are at now. Zcash is basically the 7th most active coin as far as I can tell.

This all said, it’s the first time I’ve heard anything mentioned about devs not getting paid.


#5083

3 months ago - the windows wallet dev.


#5084

Fear is the path to the dark side . Fear leads to anger. Anger leads to hate. Hate leads to suffering. Suffering leads to exiting your $ZEC position. Exiting your $ZEC will lead to missing out.


#5085

Im not dumping my zec at this price, if it goes to zero, even then i will keep it. No point selling it because i think its soooo undervalued at the moment and even if in some reason zec crashes i will keep my zec as souveniers😉. But that aint gonna happen and we have to wait a little more to see that zec will perform better than you think😎


#5086

#5087

my gut’s telling me we’re close. weeks, not months.


#5088

Really? I went ‘all in’ at 91 Euros.

I used to mine ZEC, gave up a while back but that doesn’t change the tech/potential of this project IMHO.


#5089

@benefit14snake Your post isn’t really on the topic of Price Speculation, but I’ll respond to it and then maybe @Shawn or another mod can move it to a new thread.

I’m sure that you’re not the only one who feels burned or betrayed, but that’s because like many others you might be too focused on short-term financial rewards. The Zcash team isn’t at all focused on short-term price fluctuations of ZEC, and they’re dedicated to building out the project over the long run. Despite what angry Twitter mobs might suggest, @zooko isn’t some out of touch overpaid CEO. Compared to other coin founders (Satoshi, Vitalik, McCaleb, etc.), Zooko has received substantially less compensation and has done so in a way that is drastically transparent and more inline with how traditional salaries are paid. The Founders Reward is also spread out amongst a diverse group of people including developers and investors, but the vast majority of ZEC is still reserved for miners.

Mining is a tough business indeed, but it’s 100% opt-in. Nobody reasonably expects any miner to operate at a loss, and despite the rise of Equihash ASICs there are other coins available to GPU miners such as XMR and ETH. Any rational miner, despite their loyalties to a given coin, should always mine the coin which yields the maximum profit for the given hardware, in your case 1080ti’s. Afterwards, you can always exchange it for your favourite coin, be it ZEC, BTC or even USD.

While ZEC used to be the most profitable coin for the 1080ti, right now ETH is probably your preferred option, but you can check https://whattomine.com. There’s also an enhancement called ETHlargement that supposedly increases the 1080ti’s performance on Ethash. If I were you, I would start mining ETH instead of selling off all your hardware at bargain prices, however if you get a good offer then take it and use that money to invest directly in your favourite coin.

In regards to devs not getting paid, WinZEC is an unofficial wallet that was developed by @radix42 independently of Zcash Co. I believe he eventually received some compensation in the form of donations and WinZEC now includes a small donation for him when you use the wallet.


#5090

Similarly, this is the first time I’ve taken risk in over a year and a half. Last year, prior to the explosion, I took out a loan on my 401k to invest since I didn’t have capital, and refused to miss this boom (wanted to mine btc back in 2009, but I didn’t have a good enough computer to do so, and was too focused on the mining aspect to just buy what little I could afford, which is what I should have done.). I proceeded to watch the numerous booms and had enough of that, and decided that this time I was joining in.

In the interest of not writing an essay, I paid off all debt near the top, made a bit of money, and decided to sit on what I had (never sold any of the ZEC I mined).

Prices are around that point again. Although I’m not going to leverage myself as much as I did last time, it’s definitely buying season in my opinion. Charged the next 1.5 months worth of investment to buy in now, although I haven’t converted to ZEC yet, I plan on doing so tonight.


#5091

I don’t think we will see another boom cycle for at least several years. I agree now is the time to buy.


#5092

You contradict yourself. If we dont see another boom cycle for several years, why would now be a good time to buy?


#5093

um…isn’t it obvious? you know, all that buy low and sell high stuff…and no, I do not contradict myself.


#5094

No. Boom brings new people to the crypto markets, new people bring new money. Without new money, and no boom cycle for several years, and 50% inflation a year, how is now a good time to buy ?

P.S. Zcash was born in the begining of bull cycle, and we have no idea where good support levels are, as we know with Dash, Litecoin etc.


#5095

ok, whatever you say…my apologies to everyone for not making a correct post…


#5096

Makes total sense …