Zcash

[Smart Facts UK]

So theirs not much point mining Zcash anymore, the value has completely gone!

 

[Koala_Steamed]

Looks like everything is down at the moment. It's still the highest Equihash coin though

 

[LW]

It'll come back, it's done that a lot...

 

[zeke morgan]

That's really the risk you take when you mine virtual currency.

 

[TheGreatishJimmy]

I’m hoping it returns to normal value. I’ve got two rigs that mine ZEC, and they’re chugging along; but before they were making me $110/month, now it’s $10-16... Literally a tenth

 

[DostThouEvenDerp]

I’m hoping it returns to normal value. I’ve got two rigs that mine ZEC, and they’re chugging along; but before they were making me $110/month, now it’s $10-16... Literally a tenth

At least you were able to use your miner! My miner only just started working after the 0.2.4 update!!

 

[TheGreatishJimmy]

I can’t say anything on using the Freedom miner, I’ve been mining ZCash to my own private wallet. Might run some benchmarks against the stuff I’m using now, see which one performs better..

 

[RyanSellers]

Usually when coins are cheaper, they are easier to mine more of them a little bit quicker. The difficulty level goes down.

 

[TheGreatishJimmy]

Usually when coins are cheaper, they are easier to mine more of them a little bit quicker. The difficulty level goes down.

Difficulty is based on how many computers are on the network. There isn’t actually correlation with difficulty and price with crypto currencies. That’s why mining isn’t very profitable right now. Difficulty is increasing because the networks are growing and getting better at solving for hashes, and the price of the coins are tanking.

 

[Koala_Steamed]

Difficulty is based on how many computers are on the network. There isn’t actually correlation with difficulty and price with crypto currencies. That’s why mining isn’t very profitable right now. Difficulty is increasing because the networks are growing and getting better at solving for hashes, and the price of the coins are tanking.

Not directly but I think Ryan meant if there is less profit, then less people are likely to mine that currency which also means lower difficulty.

 

[TheGreatishJimmy]

Not directly but I think Ryan meant if there is less profit, then less people are likely to mine that currency which also means lower difficulty.

That’s how it happens normally, but the ZCash difficulty hasn't gone down enough to make a difference in a while

 

[RyanSellers]

Not directly but I think Ryan meant if there is less profit, then less people are likely to mine that currency which also means lower difficulty.

Yeah. That is what I meant.

 

[TheGreatishJimmy]

Yeah. That is what I meant.

I’ve been watching the ZEC difficulty like a hawk the past few months, and since I send my payouts directly to my own ZEC wallet I’m able to send it to an exchange or ShapeShift it to another coin pretty easily. I generally get a payout once every 38-44 hours, so the difficulty hasn’t been dropping with the price unfortunately enough. In February I had calculated my 1060’s ROI time at just under 60 days, now it’s closer to 300, I’m acquiring the same amount of coins at the same pace, but the value is tanking, and everyone seems to be all about that HODL.