Looking like the ZEC party is over

[nerdralph]

For newer cards like Polaris/Ellesmere and Tonga, eth mining is is now more profitable than zec, leading to hashing power switching back to eth.
https://etherscan.io/charts/hashrate

While the price of zec has been dropping (now ~$65), the market cap has stayed in the $3-4M range for several days.  In a month from now I expect the zec price to drop to the $25-$35 range, reducing mining profitability and resulting in more miners switching back to eth.  Difficulty should be back up to 80T within a few weeks, and back up to 100T early in 2017.

[1715358912]

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[Navihawk]

Not all that surprising that Zec is still dropping like a rock. I've already been estimating that it'll drop to ~$4 USD/ 1 ZEC , but that is mostly based on what I've seen going on with the ZCL fork.

[nerdralph]

Not all that surprising that Zec is still dropping like a rock. I've already been estimating that it'll drop to ~$4 USD/ 1 ZEC , but that is mostly based on what I've seen going on with the ZCL fork.

If ZEC goes to $4, almost all of the GPU mining would go back to ETH (assuming ETH stays around $10), and difficulty would quickly go over 100T.

[h311m4n]

For me, profitability ends at ~35$/ZEC, I could go lower but then it's just getting payed to use electricity. Going to mine it until it reaches the 40-45$ maybe, to milk the cow, then switching back to ETH I guess.

It's really a shitcoin after all. Just had a read through this https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony very interesting, even though I don't understand everything.

[olcaytu2005]

For me, profitability ends at ~35$/ZEC, I could go lower but then it's just getting payed to use electricity. Going to mine it until it reaches the 40-45$ maybe, to milk the cow, then switching back to ETH I guess.

It's really a shitcoin after all. Just had a read through this https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony very interesting, even though I don't understand everything.

He may have valid points, but I would personlly never trust a single word from that megalomaniac.

[h311m4n]

For me, profitability ends at ~35$/ZEC, I could go lower but then it's just getting payed to use electricity. Going to mine it until it reaches the 40-45$ maybe, to milk the cow, then switching back to ETH I guess.

It's really a shitcoin after all. Just had a read through this https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony very interesting, even though I don't understand everything.

He may have valid points, but I would personlly never trust a single word from that megalomaniac.

Lol, i don't know the guy, but he seemed to know his stuff.

[scavern]

yeah, i just switched back to eth and i am getting about what i used to get before zec was around...

[adaseb]

Basically

RX 470/480 => More profit with ETH especially since you can dual with SIA

R9 290/390 => Borderline equal in profitability currently

Tahiti/Pitcairn => More profit with ZEC especially since no DAG file slowdowns.

[QuintLeo]

I predicted ZEC would join the "basket" of altcoins ballpark 2 weeks back.

 Upgrades to the miners didn't change that - just meant you had to keep upgrading your software to stay competative.

 As of right now, my R9 290s would be less profitable even with the optiminer software than they are running Genoil on ETH - but it's quite close - electric cost MATTERS, someone with high electric cost would probabl be more profitable on ZEC.

 ETH right now is still more profitable than the week before ZEC was launched - but it's slipped down to only being a LITTLE more profitable with the recent price drop.

[nerdralph]

RX 470/480 => More profit with ETH especially since you can dual with SIA

I've seen your comments before about dual mining, but I think when you look at income vs power consumed, it's not worth it.  Most home miners have to work with a limited amount of power, such as 20Amps x 240V.  With a fixed amount of power, you can have more GPUs mining eth than you can dual mining.  And I think if you crunch the numbers you'll find you make more money from that fixed amount of power mining just eth.
There's also the hard to quantify but real impact of the higher temperatures on component life.  Fans will die sooner, thermal compound will dry out sooner, capacitors will pop sooner...

[nerdralph]

As of right now, my R9 290s would be less profitable even with the optiminer software than they are running Genoil on ETH - but it's quite close - electric cost MATTERS, someone with high electric cost would probabl be more profitable on ZEC.

With Claymore V6 and V7 my Rx 470 uses more power mining ZEC than Eth.  With ETH I can run the core at 1030 while with ZEC I need to run the core >1200 to get the maximum hashrate.

[IamRune]

In another week Ethereum will be more profitable to mine than ZEC.  Should be interesting as the majority swaps back to ETH. 

[ethereumhunter]

the party is over in just a week from the zec launch in poloniex and i don't think zec will be survive for long time like other coins. and i think for next profitable mining is for ethereum or ethereum classic and don't forget with monero since the price giving a good positive movements. let we see what happen in early december later.

[Yuuto]

For newer cards like Polaris/Ellesmere and Tonga, eth mining is is now more profitable than zec, leading to hashing power switching back to eth.
https://etherscan.io/charts/hashrate

While the price of zec has been dropping (now ~$65), the market cap has stayed in the $3-4M range for several days.  In a month from now I expect the zec price to drop to the $25-$35 range, reducing mining profitability and resulting in more miners switching back to eth.  Difficulty should be back up to 80T within a few weeks, and back up to 100T early in 2017.

Mining profitability on ZEC has definitely decreased by a ton over the past few days because the first few days the block rewards in terms of Zcash is extremely low and slowly picking up speed.

Right now Zcash is not even at 0.1 BTC level, and I can see it drop through the floor very soon, to something like Ethereum's price right now before a small pump to over .1 BTC level.

[adaseb]

Difff is already at 80T.

100T might be next week.

[Amph]

it depend if clymore can really reach crazy speed like 300h/s on a 390, but everyone will increase his hash with that

surely it's not good to mine with nvidia, switched to etheruem some days ago

[Dum3]

Of course it's over,every idiot in the world can buy some cards,read forums and make some money from fools.After all we are greedy fuckers searching for easiest way to make money.

[Caladonian]

Of course it's over,every idiot in the world can buy some cards,read forums and make some money from fools.After all we are greedy fuckers searching for easiest way to make money.

saddest true most of us here really looking to take advantage and earn easily that's what happen to this coin miners use every advantage they have and invest with their devices then dumped it for some extra cash its really over because no one is really taking a risk to invest with this project.

[adaseb]

Of course it's over,every idiot in the world can buy some cards,read forums and make some money from fools.After all we are greedy fuckers searching for easiest way to make money.

This is probably the greatest post in this entire forum.

[Maskedman]

Yeah, that was sure to happen. I've never been convinced that it would last very long as many people said it.