It’s because of the “value”
I believe it’s due to the shipments of the Innosilicon A9++ coming online, although I can’t imagine who’s buying them. The prospects of breaking even on any ASIC are slim to none.
It should be noted that the price of ZEC has fallen such that it is no longer profitable to mine with the original A9’s (50k sol/s) even with relatively cheap Canadian electricity prices. I was forced to shut down my farm recently, and it’s likely the majority of at-home miners have shared the same fate. The network is getting less and less decentralized everyday.
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market seems confused. according to current exchange rates; it’s more expensive to buy into the less secure block chain
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Why less secure, no asics and all. Decentralization is much higher and the algorithm is different, so comparing speed on the same scale is not right.
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Is it just me, or does the XMR hashrate look like its slowly dying? If that was a patient monitor I’d be worried.
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Federal Reserve was given green light from pentagon to start ASIC farms in the basement of JP Morgan’s Wall Street vault were gold used to be stored.
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Algorithm change is a sharp drop in the graph, centralization resistance.
36$ and 30 CMC. Moon!
I see several reasons:
- Main reason: Low electricity region miners from China & Russian republics with access to very low electricity prices force out high electricity region miners.
One year ago i made a topic that the lower the ZEC price the more mining centralization we get. The chinese miners just have a huge advantage not only with the electricity prices but as well with access to hardware and the price for access, because without any custom taxes, shipping costs their cost is very much lower even for the hardware.
There is nothing strange in a climbing ZEC hashrate, as long as in China they have a really short ROI, can mine ZEC, and sell it for profit the hashrate will climb, easy and simple as that.
When i tried to find a pattern on ZEC prices some months ago the only pattern i was able to found was high hashrate peaks often leads to new price lows. The only logic behind that i can assume is that the higher the hashrate climbs the more miners are forced to sell the mined ZEC to keep operations going and/or buy new hardware to compensate for less profit due higher difficulty.
Another factor mostly is that all the other coins on equihash are even less profitable and hashrate moves to ZEC, making things (described above) even worse.
And of course like always, new hardware being released and shipped.
IF it was due value the hashrate would climb and the price would raise. That’s not the case with ZEC at the moment so we can exclude value in my opinion for now.
Just answering in generally here as i did not check and analyze the XMR mining pool and hashrate distribution and numbers.
Taking only the hashrate and associating it with network security is plain wrong in my opinion. There are more very important factors that should be taking into account when talking about network security.
- mining pool hashpower distribution.
- concentration/centralization of hashpower either by country, region, persons or even ideology.
Fictive example: A big player that controls 3G of 5G hashrate would mean a less secure network than having a network with 1G where the biggest player controls only 0.01G.
I totally agree with this. Only hashrate amount isn’t even half of the story.
I didn’t want to check the XMR hashrate but that one made me curious. But it seems it’s just you. For some reason it’s just very stable since March 2019. Always around 320-330M.
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complete flatline, apparently nobody is buying GPUs to mine XMR. cannot believe people are trying to tell me a less secure block chain is more secure. same group of people tried to argue XMR’s infinite supply isn’t infinite lol
Value and price are different
( I know people say this value in that value associated with their metrics what I’m talking about is real, actual value)
That’s because the algo is changing to CPU based on the 30th of nov. Was meant to be 21st Oct. - of course people are not going to be buying vegas (anything other than vega or above you would mine Ethereum on AMD hardware, unless you got some really good cards, even then its close).
This is also why its pretty flatline. the new radeon cards (5700xt) came out after the switch was announced and only a limited number of vega and vega II were made. (that and the scale of the graph!)
Of those the reference models are the best. (AMD always makes the best board for its reference design, total overkill on all the components. the AIB partner boards are cheaper copies, which is why their is less AIB cards for AMD - it is a legacy thing left over from overclocking and their “enthusiast” market segment. - think water cooling)
They are currently buying all the ryzen 3900x’s and zen2 in general. Even zen+ (ryzen 2xxx series) are good value per watt.
See my thread on randomx as to what is going on. and how your new hardware will perform on randomx. (im using old server hardware, I have a few ryzens too)
That graph shows that their is a strong decentralised base for monero. every time the asics go away the hashrate is 30 - 40m.
This is also partially why monero has been holding price. people like me worked out long ago we could sell our GPU’s and buy monero instead. (as of august/September)
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that’s fine! my original point stands. XMR’s much cheaper to attack than zcash, and that makes the network less secure.
have a large enough botnet - XMR is now your personal toy!
side note:
not sure how that hashrate chart proves decentralization.
one day, people will realize the term “decentralization” is nothing more than a lazy/subjective buzzword that means close to nothing. been trying my best to remove the term from my lexicon.
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They will prohibit mining in China and at least 90% will leave zcash speed, and they left and returned from monero in the form of the very miners who simply switched to a new algorithm.
It annoys me too because it does actually mean and stand for something, but unfortunately it has been come watered down to a buzzword by the media and corporate types. Like ‘blockchain’ has (hint to the media: not everything needs a blockchain). It needs to be made clear when people are misusing the word.
Rather than removing a word from your vocabulary, why not teach others not to misuse it, and show them how and when it is being misused?
The ECC likes the word, It is in their mission statement.
Here are some quotes is from the zcash faq…
from the mission statement:
How to get zcash:
hurm and this too… (this smashes it out of the park in terms of buzzwords tho, heh)
interesting! https://twitter.com/cz_binance/status/1181861386525106176
thinking since most zcash activity’s happening in asia; binance’s new CNY option might give a little relief to ZEC/BTC pairing.
I personally dont like coins with unlimited or hundreds of billions of supply. That is one of the reasons i like zec, its supply is capped 21 mln.
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Most top 50 coins by mkt cap perform nicely, but seems like somebody is holding zec back. Like keeping zec on short chain. Hope zec breaks it and shoots through the roof…its time already…
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Check out Coinbase, something happened
