Zcash mining profit dropped

Just to give you guys my personal thoughts on this. I think that this wont be profitable anymore, more and more people found out about mining and now the difficulty is rising to a point that this wont be worth it anymore. I already stopped mining, forgot all my plans of buying GPUs and making money with this and in return I’ll be investing in cryptos.

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investing straight into cryptos rather than mining would probably have made a lot more money anyway :slight_smile:

Yes I told him approximately how many it will cost for 1000w :slight_smile: and I bought a 80 PLUS Titanium certified PSU with +94% efficency(AX1500i)

Ps: My local currency is EUR so the numbers will appear less frightening :yum:
The voltage is 240V at 15A

i just sold my 470s and 480s for a little more than 380 euros each. i’m personally waiting for a market correction, and will buy some coins directly (say if bitcoin goes direction 2200 or lower i will start buying in portions the way down it goes, IF it goes down of course. spreading the buying until lets say bitcoin price of 1800 - 1900). if it won’t go down that far, no loss on cash money anyway. i’ll maybe be back again mining later when vega arrives… or not. don’t mind waiting for the summer months.

Strange that Zcash price dropped over 10% in 1 day
but Hast Rate in many pool are keep raising…
flypool near 12MH/s already…
funny

more and more people are going to mine, total hash rate will increase as long as it is profitable, and it is profitable, also if the price will drop 50% or 75%, ROI just will take longer

your name is funny atm

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lol thanks
20 character yada yada

RIP :zcash: I will wait 3am (UTC-4 )without sleeping to call the customer at the 1st hour(8am) to cancel my order
I already sent them a mail

I’ll only keep the 7 risers kit from china

What could you advice me to do? I’m scared I just invested all my money on a 1080 ti Rig and everything feels downhill from here

I think the first thing you need to do is take a deep breath. Calm down. This week didn’t end well for Zcash but it’s most definitely not the only crypto currency feeling a drop right now. I just spent $4000 on hardware when ZEC was sitting at $400. Does it make me think twice? Of course. But ZEC is going to go up again and it’s going to surpass it’s previous high. You just have to be patient. In the meantime, the ZEC you’re mining will be worth more in the long run.

If you can’t handle the fluctuations perhaps you should sell your equipment before the prices of GPU’s drop as well.

Just do something else not mining u think on shorts periods of time mining is a mid-long term buisness with lot of ups and downs

Thanks for your words, will try to calm. I’m probably just a bit discouraged that the week I start mining, the profit I was expecting to make went lower than half. With time and patience I’ll learn to handle the ups and downs :smile:

Thanks again!

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Some of the comments I’ve been seeing lately are very similar to the type you would see on a stock market board. People either freaking out (constant bashing, getting people to sell) or overly exuberant (constant pumping, getting people to buy). Usually done in ways that cause an emotional response.

Always be wary when taking financial advice over the internet. When in doubt, double down on your due diligence to make sure your plan is solid and what you want.

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i can’t and don’t want to give advice. i dont have a crystal ball unfortunately. if you just bought a rig… congrats! you WILL make your money back, amount of time is variable because of network hashrate & currency exchange rate. one day you will see it going down, another day it will go up again just as easy. that’s all there is to it.i come from a period where things were a lot worse, and at that moment i was happy that i could mine profitable. as long as it’s profitable… all good!

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OH MY…price back to $2xx within 2 days… howcome … :frowning:

when you take a look in almost all crypto currency and the price of gold silver and the dollar you will see that almost everything is going down in price

25% in 2 days… I can hardly believe it…

the ones that went up the most recently also go down a lot. first of january zcash was at 48 usd, look at where it is now. dont panic, it’s just the normal crypto volatility. if you can’t live with it maybe it’s not something for you.

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