Looking like the ZEC party is over

[Gastotade]

even if a pump will happen it will only last not enough to make the profitability great again for a long time like it was with early this year, i think there is too much power hashing right now, too many gpu and still being added

we need a reset to remove some miners from the scene, bad times are good for this reason to restart again with less hash over all the coins combined

but yes the one thing that make me think that there can be another good pump, is the fact that bitcoin is very high in value, and in 2015 bitcoin was in a bad condition

usually this is a good traction for some alt to get pumped to a high level

I agree with that totally. I found the total hash of the Ethereum and the ZCash is still increasing and fast.

Hmmm, actually it's lower than before and seems to be slowing down already:

http://www.coinwarz.com/network-hashrate-charts/zcash-network-hashrate-chart

I beat all my records by mining 0.01 in 20 minutes earlier today ^^

Some have drifted to ETH

I have earned .275 zed today.   there are about 8 ½ hours left I could earn .37 - .40 ZEC today

Not bad. I think that people moving back to ETH is a good thing, more ZEC mined per day for us means we can hold on a bit longer...

That might not last long. If it is more profitable to mine ZEC., miners will come back to mine the ZEC.

[h311m4n]

even if a pump will happen it will only last not enough to make the profitability great again for a long time like it was with early this year, i think there is too much power hashing right now, too many gpu and still being added

we need a reset to remove some miners from the scene, bad times are good for this reason to restart again with less hash over all the coins combined

but yes the one thing that make me think that there can be another good pump, is the fact that bitcoin is very high in value, and in 2015 bitcoin was in a bad condition

usually this is a good traction for some alt to get pumped to a high level

I agree with that totally. I found the total hash of the Ethereum and the ZCash is still increasing and fast.

Hmmm, actually it's lower than before and seems to be slowing down already:

http://www.coinwarz.com/network-hashrate-charts/zcash-network-hashrate-chart

I beat all my records by mining 0.01 in 20 minutes earlier today ^^

Some have drifted to ETH

I have earned .275 zed today.   there are about 8 ½ hours left I could earn .37 - .40 ZEC today

Not bad. I think that people moving back to ETH is a good thing, more ZEC mined per day for us means we can hold on a bit longer...

That might not last long. If it is more profitable to mine ZEC., miners will come back to mine the ZEC.

Well, that's the thing. I'm still mining ZEC because I achieve 1600H/s for 1245W, that's about 0.77W/H because I optimized my rigs properly. I think many miners aren't modding their cards because they don't know how to, don't have the time to or just don't care and they end up with high wattage, so mining a coin that looses about 10% of its value every day quickly becomes a waste of electricity. So, unless ZEC gets to twice the price of ETH in terms of what you mine per day, people might come back indeed.

But it's a good thing if people are leaving ZEC mining for ETH, this might bring the price up a little, who knows.

Also, the hype is over, everybody's had a laugh, made a few bucks and is returning to ETH because ETH is more stable and has all sorts of projects going on (mind you, ETH dropped to 9.5$ not long ago). Nobody takes ZEC seriously anymore (whether they are right or wrong, this I don't know).

[philipma1957]

even if a pump will happen it will only last not enough to make the profitability great again for a long time like it was with early this year, i think there is too much power hashing right now, too many gpu and still being added

we need a reset to remove some miners from the scene, bad times are good for this reason to restart again with less hash over all the coins combined

but yes the one thing that make me think that there can be another good pump, is the fact that bitcoin is very high in value, and in 2015 bitcoin was in a bad condition

usually this is a good traction for some alt to get pumped to a high level

I agree with that totally. I found the total hash of the Ethereum and the ZCash is still increasing and fast.

Hmmm, actually it's lower than before and seems to be slowing down already:

http://www.coinwarz.com/network-hashrate-charts/zcash-network-hashrate-chart

I beat all my records by mining 0.01 in 20 minutes earlier today ^^

Some have drifted to ETH

I have earned .275 zed today.   there are about 8 ½ hours left I could earn .37 - .40 ZEC today

Not bad. I think that people moving back to ETH is a good thing, more ZEC mined per day for us means we can hold on a bit longer...

That might not last long. If it is more profitable to mine ZEC., miners will come back to mine the ZEC.

Well, that's the thing. I'm still mining ZEC because I achieve 1600H/s for 1245W, that's about 0.77W/H because I optimized my rigs properly. I think many miners aren't modding their cards because they don't know how to, don't have the time to or just don't care and they end up with high wattage, so mining a coin that looses about 10% of its value every day quickly becomes a waste of electricity. So, unless ZEC gets to twice the price of ETH in terms of what you mine per day, people might come back indeed.

But it's a good thing if people are leaving ZEC mining for ETH, this might bring the price up a little, who knows.

Also, the hype is over, everybody's had a laugh, made a few bucks and is returning to ETH because ETH is more stable and has all sorts of projects going on (mind you, ETH dropped to 9.5$ not long ago). Nobody takes ZEC seriously anymore (whether they are right or wrong, this I don't know).

like you I am at .75-.80 watts per h  so I am sticking with Zec at the moment.

[Navihawk]

even if a pump will happen it will only last not enough to make the profitability great again for a long time like it was with early this year, i think there is too much power hashing right now, too many gpu and still being added

we need a reset to remove some miners from the scene, bad times are good for this reason to restart again with less hash over all the coins combined

but yes the one thing that make me think that there can be another good pump, is the fact that bitcoin is very high in value, and in 2015 bitcoin was in a bad condition

usually this is a good traction for some alt to get pumped to a high level

I agree with that totally. I found the total hash of the Ethereum and the ZCash is still increasing and fast.

Hmmm, actually it's lower than before and seems to be slowing down already:

http://www.coinwarz.com/network-hashrate-charts/zcash-network-hashrate-chart

I beat all my records by mining 0.01 in 20 minutes earlier today ^^

Some have drifted to ETH

I have earned .275 zed today.   there are about 8 ½ hours left I could earn .37 - .40 ZEC today

I kinda drifted off to Monero and Internet of Everything for now, probably going to switch from IOE to ETH after the premine is over.

[topgeek]

Nothing behind for ether either, its potential is honestly bigger than any crypto out there.

I am very strongly reminded of the Beta vs VHS wars - Beta was hands down technicall superior, but VHS was "good enough" and far better marketed and had much more widespread adoption and support, so Beta died after some years of competition.

So using the logic - the coin that will win is the one that the porn industry gets behind (the real reason VHS one)  

cheers

[jstefanop]

But it's a good thing if people are leaving ZEC mining for ETH, this might bring the price up a little, who knows.

The price will never go up on this coin for a very long time. This was the first coin in a while that didn't have a huge pre-mine and started with zero on day one. People forget that when Bitcoin/Litecoin came out, there were millions of coins minted before people became of aware/mass adaption started. At that point each block added was like .00001% of total supply...right now each block added by ZEC is like .1% so as long as people think the value of ZEC is 4million, the price will always be pushed down by a fast rate.

This wont change for at least a year or two...when ZEC supplies reach into the millions.

[adaseb]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

[philipma1957]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

You are lumping Zec with under 4,000,000 market cap with eth which has an 750,000,000 plus market cap.

Feeding cash to prop up Zec is easy and cheap.

Feeding cash to prop up eth is a lot more costly.

Right now I estimate 25,000,000 in gear is Mining Zec.

I have said it once and I will say it again.  Sellers of gpus, CPUs , mobos , atx power supplies , ram can easily prop up Zec price.  They would need to feed much more money to do this with eth.

I see Zec hanging in there for at least another six months. Once a lot of,coins are mined it could fade.

[olcaytu2005]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

I made the most profit on q1 and q2 of 2015 where I mined ninja coins. Maybe it will be hardly profitable for those who mine steady.

[h311m4n]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

I don't disagree with you, but you can't blame the average Joe for thinking "Woohoo, free money" *homer voice*

It's just part of the game, I've been mining for a few months only myself, but in the process I've learned quite a few things in trading and hardware optimization, it's been really fun. Also, most home miners don't have immense budgets and end up with maybe 2-3 rigs max, I doubt that this really makes that much of a difference against farms with hundreds of rigs.

You're going with the assumption that if less people were mining, it would be better for everyone, but imo this isn't true for 2 reasons:

-Less global hashrate means less computing power for many altcoins which in return would likely also mean less value for the coins themselves. ETH sure as hell wouldn't be what it is today without miners, same goes for the entire altcoin scene
-Less miners also would likely push most altcoins to PoS rapidly which would render mining useless anyway

[adaseb]

-Less global hashrate means less computing power for many altcoins which in return would likely also mean less value for the coins themselves. ETH sure as hell wouldn't be what it is today without miners, same goes for the entire altcoin scene
-Less miners also would likely push most altcoins to PoS rapidly which would render mining useless anyway

I don't think more global hashrate makes the coin more valuable, if anything it makes it less valueable because people need to dump the coin to pay for electricity and GPUs.

Most miners never hold the coin or buy more of it, they just dump and profit. That's why ETH wants to move to POS to avoid this because it kills the coins value.

[Amph]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

It's just part of the game, I've been mining for a few months only myself, but in the process I've learned quite a few things in trading and hardware optimization, it's been really fun. Also, most home miners don't have immense budgets and end up with maybe 2-3 rigs max, I doubt that this really makes that much of a difference against farms with hundreds of rigs.

i think you are wrong, those average joe, are not 1-2 person, they are hundred/thousand, so thounsand of random guys with 1-3 rig, will make a difference for sure

[Quidat]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

It's just part of the game, I've been mining for a few months only myself, but in the process I've learned quite a few things in trading and hardware optimization, it's been really fun. Also, most home miners don't have immense budgets and end up with maybe 2-3 rigs max, I doubt that this really makes that much of a difference against farms with hundreds of rigs.

i think you are wrong, those average joe, are not 1-2 person, they are hundred/thousand, so thounsand of random guys with 1-3 rig, will make a difference for sure

The guys with free electricity at home will make the big farms unprofitable. There are thousands of them.

[64dimensions]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Oh yes!  This is to be contrasted with the self sacrifice, the Noblesse Oblige, the honorable intentions of the commercial miners who have no goal but to further crypto currencies to an exalted future, mere peasant concerns with  financial gain be damned.

[arielbit]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

It's just part of the game, I've been mining for a few months only myself, but in the process I've learned quite a few things in trading and hardware optimization, it's been really fun. Also, most home miners don't have immense budgets and end up with maybe 2-3 rigs max, I doubt that this really makes that much of a difference against farms with hundreds of rigs.

i think you are wrong, those average joe, are not 1-2 person, they are hundred/thousand, so thounsand of random guys with 1-3 rig, will make a difference for sure

The guys with free electricity at home will make the big farms unprofitable. There are thousands of them.

free electricity at home? by the thousands?  Who are they?

[philipma1957]

The problem is that there are WAY TOO MANY Tom, Dick, and Harrys that are getting involved with mining.

First they start off with 1 GPU and make money, and then next month they get an entire rig, and in 3 months they max out their house's power by filling it up with 30-40 GPUs.

All this causes the difficulty to rise, and makes mining very unprofitable for everybody.

Right now ETH + ZEC miners revenue daily is slightly below $600,000. Which means for constant profit with constant difficulty there needs to be $600,000 of buyers of ZEC + ETH to keep everything stable.

I also think if BTC breaks the all time barrier of ~$1100 or so then it will be a great time for mining in general. But I am worried like most here and that 2017 will become like 2015 with mining being hardly profitable.

It's just part of the game, I've been mining for a few months only myself, but in the process I've learned quite a few things in trading and hardware optimization, it's been really fun. Also, most home miners don't have immense budgets and end up with maybe 2-3 rigs max, I doubt that this really makes that much of a difference against farms with hundreds of rigs.

i think you are wrong, those average joe, are not 1-2 person, they are hundred/thousand, so thounsand of random guys with 1-3 rig, will make a difference for sure

The guys with free electricity at home will make the big farms unprofitable. There are thousands of them.

free electricity at home? by the thousands?  Who are they?

Free in that rent pays power.  So setting up a four card rig of zec  pulls 400 watts for 500H  (under-clock under-volt)

I am sure the 3000 people in the world could do this.  3000 x 500 = 1,500,000 H

that is about ?% of network        23,092,298

1,500,000/23,092,298 = 6.49%

 In my house I run 2400H using  about 2000 watts.
 I could bump to 3000 watts with cold weather. But my power is 12.7 cents in the winter  the heat has about 2.7 cent value

So I am a 10 cent guy in house.

[toptek]

how i see it , it's not over till it's over and it's not over yet . it's gonna keep going up and down for a while . how long no idea . some say a month or two but well see, i keep mining Zec. low or high .!! with ETH thrown in for a few hours @ a time not because ZEC drops down, i switch off a few cards to eth when it gets better etc and back to mining ZEC as needed.

[nerdralph]

I could bump to 3000 watts with cold weather. But my power is 12.7 cents in the winter  the heat has about 2.7 cent value

So I am a 10 cent guy in house.

You must have competitive access to natural gas.  Did I read you are in the NJ area?  Cheap natural gas also makes for cheap wholesale power.  See http://pjm.com/.  That usually leads to lower retail rates; a guy from PA with a small ETH farm told me he was paying ~5c/kWh.  Even if he left out taxes & meter fees, that should be not much more than 6c.

I'm in Atlantic Canada and pay the equivalent of US 12c/kWh.  Electricity and oil are the main winter heat sources around here, and in the few places natural gas is available it's no cheaper than oil for heating.  That means means for about 4 months of the year my effective cost for electricity after deducting the heat value is 6c/kWh.

[toptek]

same in Maryland but here we can pick who we buy the power from but have to stay with the company that disturbs the power and mine is with fees 11 some changes so id say 12 cents if you let the power company do it all it cost even more 14 to  15 cent per kwh with fees direct from the Power company but without fees for the next year 7.60 cents per Kwh. no peak hours, fixed price no matter how much i use .the real power company is the one that disturbs the power not the suppliers in Maryland.

[Ziljtv]

ZEC and Ethereum will level out to be about even profit wise, you will always have a large group of people jumping ship from one to another causing an imbalance between the 2,

My predictions from a few days after Zcash launched were it will come down to meet Ethereum, Why? Because when it's more profitable, everyone leaves to mine it, flooding the market, dropping price, less demand for buyers and more sellers just selling at market value chunking into the buy orders to offload coins.  Simple supply and demand.

Once price drops, people switch back to Ethereum when it once again becomes more profitable, swinging the balance once again, George of the Jungle comes to mind!

All in all, Zcash of course will drop in price, it will continue to drop as the block rate keeps increasing.  It's block rate started low and is increasing, hence more coins are available, you can't expect more and more coins to be rewarded each block and price to remain at the same values, just won't happen.

Either way, it opens up a longer period of mining for all GPU users Be happy.