Hi guys i started mining 2 months ago with 3x 1070ti and i can see that difficulty is raising too much last few months and price is around $400 and idk will it raise up and if it go up i think the difficulty will also go up, so my question is should i switch to some other cryptos with other algorithms or stick to ZEC? i wanna hear your opinions
I started mining Raven coin with my 5X1070 and 5x1060. I get aprox. 0,1 BTC per month at this difficulty level and current RVN/BTC ratio. Since i’m big fan of ZCASH i convert everything i mine to ZCASH. Best of all about this coin is that there’s no AMD miner yet, so difficulty isn’t increasing rapidly.
IMO your question is a somewhat stupid one. Assuming you’ve learned the basics and perhaps a little beyond in the 2 months you’ve been mining, you’d know that the market is all over the place and difficulty will inevitably increase on every coin, block reward reduces over time, etc… So with that understood, It’s a personal choice if you stay or go, but similar if not the same issues exist with mining in general.
Mining, like trading, you have to just ride the ups and downs out. You can definitely chase the most profitable coin if you want, there are miners who do, but I believe the best strategy is stick it out over the long haul. Also IMO mining will not last forever anyway. I believe in the end the big operations will completely consume mining and will make it impossible to beat them to the block reward, it’s already starting to happen, so mine while you can…
“This Is My Opinion, There Are Many Like It, But This One Is Mine…”
Thanks for advices, yeah ik but im kinda new in all this thing so im just learning day by day
ZEC is positioned well for the long term. As Alts are merged, die are prosecuted, ZEC will still be standing. Wouldn’t be surprised if the ZEC team ended up taking over other “coins” and/or groups. Just wish bot trading would die. Sadly, it won’t. Oh! and FYI… ASIC miners SUCK!
There are lots of sites that show profit per coin. Jan and Feb I mined zec exclusively. But right now eth is about 10% more profitable so a switched my main rig to etherum while my pc continues to mine zec.
Look at coinwarz.com for profit comparison.
Edit just ran numbers again and there is a massive spike in zec difficulty. Over 11 million. My rig earns 10 us a day on eth and 7 U.S. on zec!! Difficulty hit 12.5 two days ago. Beginning of Jan difficulty avg 7m. So in 2 months difficulty of zec has almost doubled and price is down 40%. It is surely less profitable now to mine zec. eth difficulty is up about 50% and the price has fallen about 30%. So etherum is a more profitable mine if you mine and sell. If you mine and hold, well that is just to hard to speculate.