Mining ZClassic and getting Ethereum

[michnern]

So, I'm just about setup and ready to start some mining. There is still one piece of the puzzle I'm trying to figure out and could use some advice on the best approach.

I've downloaded and installed Exodus wallet as many seem to like it. Jaxx had some initial appeal for ease of use but with some of the recent issues, many here have advised to stay away.

I don't really want to download and install a million different wallets, I want to stick with Exodus if I can, but I want to mine ZClassic / ZCash. Unfortunately, Exodus doesn't support ZCash / ZClassic as tokens / coins as of yet, so my question is:

What is the best approach to mining ZClassic / ZCash and having the earnings deposited to my Exodus wallet as Ethereum?

I've noticed that some pools such as MiningPoolHub support an auto exchange feature, but it looks like the most popular pool in which to mine ZClassic is flypool.... Unfortunately, I don't see any mechanism to auto exchange ZClassic to Ethereum in flypool....

Had a peek at Shapeshift.io, but I don't see ZClassic as a coin / token there.... I'm Canadian, so I looked at Quadrigacx to see if I could maybe mine directly to there and have the ZClassic exchanged and sent to my Ethereum wallet automatically, but it doesn't look like Quadrigacx has ZClassic either.

Checked Bittrex and they support ZClassic, but aren't accepting new registrations at the moment.... So I'm kinda stuck...

Anyways, I'm looking for suggestions as to how to best approach this.

Thanks,

[adaseb]

What GPU do you have exactly? You might be better off just mining ETH directly.

If you got like a 7970 and are mining ZCL, then just sell it on some exchange and buy ETH.

You can use nicehash but it pays in BTC not ETH.

[michnern]

I have 5 x GTX 1070's. ZClassic is the most profitable coin for me right now.

[BCCrypto68]

Setup mining at Miningpoolhub.com and have it auto convert - it's a 1.2% fee (1% pool fee, plus a .2% exchange fee). I'm doing something similar with an older R9 280X having it mine (with Awesome Miner) the algo's it's most effective on and having MPH convert to LTC. One card, slow processes but it's working.

https://miningpoolhub.com/?page=gettingstarted

[michnern]

Thanks, I looked at MiningPoolHub for the feature of being able to auto exchange, but was still considering using flypool because they seem to be the most popular zcash pool according to these stats:

https://poolstats.org/

Is MiningPoolHub as profitable?

Also, this is somewhat confusing.... Flypool has the following message on their site right now: "Because of performance issues with the Zcash client we are unable to send payout transactions to z addresses! Therefore DO NOT use z addresses to mine on the pool."

Umm... So how am I supposed to mine ZCash on flypool if I can't send payouts to a z address? I didn't think they would auto-trade / exchange to a different coin???

THanks,

[fanatic26]

Any conversion will eat into your profits. The answer is to run a proper wallet and not be lazy about it.

[michnern]

I downloaded a zclassic wallet, but am still confused about the message on flypool's site... If I can't mine ZClassic and send it to a z address, where am I supposed to send it exactly? Sorry, I'm still learning....

[BCCrypto68]

Thanks, I looked at MiningPoolHub for the feature of being able to auto exchange, but was still considering using flypool because they seem to be the most popular zcash pool according to these stats:

https://poolstats.org/

Is MiningPoolHub as profitable?

Also, this is somewhat confusing.... Flypool has the following message on their site right now: "Because of performance issues with the Zcash client we are unable to send payout transactions to z addresses! Therefore DO NOT use z addresses to mine on the pool."

Umm... So how am I supposed to mine ZCash on flypool if I can't send payouts to a z address? I didn't think they would auto-trade / exchange to a different coin???

THanks,

I can't tell you if it's as profitable, honestly I'd suggest you try it out for yourself. Just understand anytime you mine a coin that is not one you want to keep, you're going to lose money in the conversion; however mining the most profitable might more than make up for it. Only you can decided if that's worth it to you - need to do the math yourself and figure it out.

Also, what kind of miner are you? Mine and hold, or mine for today? Different strategies for both.

[michnern]

This might just be the newbie in me talking, but I wasn't planing to pigeon hole myself to one mining strategy... In my newbie view, I think Ethereum has a lot of future potential, so I'd be apt to sit on Ethereum for a long time, but from a current value standpoint, I can make more than double the US dollar value mining ZClassic with the same rig as I can Ethereum... My logic on that is if I'm only making $15 / day mining Ethereum, but the same rig will yield $38 / day in ZClassic, doesn't it make more sense to mine ZClassic, exchange it into Ethereum and sit on the Ethereum longer term? I didn't think exchange rates would eat up that large of a profit gap between coins... Again, that may just be the newbie in me talking .

[rabbitr32]

I downloaded a zclassic wallet, but am still confused about the message on flypool's site... If I can't mine ZClassic and send it to a z address, where am I supposed to send it exactly? Sorry, I'm still learning....

i think flypool are zcash not zclassic mate.. u got it wrong.

[michnern]

Thanks for that catch! MiningPoolHub it is I guess!

[SerendipitouslyMe]

Hello!

You can create an address at Cryptopia and send the coins. I do that, it has good liquidity for ZClassic.

[notlist3d]

Hello!

You can create an address at Cryptopia and send the coins. I do that, it has good liquidity for ZClassic.

It will depend on what pool you use but most exchanges make a point of saying not to mine to them (yes there are a few exception to this).  But in general you don't want to mine to a exchange. 

Yes you could use some pools that store a little on them and then transfer to exchange at a certain amount.   All depends on how the pool is set up to pay out.

[BCCrypto68]

This might just be the newbie in me talking, but I wasn't planing to pigeon hole myself to one mining strategy... In my newbie view, I think Ethereum has a lot of future potential, so I'd be apt to sit on Ethereum for a long time, but from a current value standpoint, I can make more than double the US dollar value mining ZClassic with the same rig as I can Ethereum... My logic on that is if I'm only making $15 / day mining Ethereum, but the same rig will yield $38 / day in ZClassic, doesn't it make more sense to mine ZClassic, exchange it into Ethereum and sit on the Ethereum longer term? I didn't think exchange rates would eat up that large of a profit gap between coins... Again, that may just be the newbie in me talking .

I'd say if you're mining $38 a day in ZCL vs $15 a day in ETH then mining ZCL and converting into ETH will make you more ETH per day than straight mining it even taking in the fee's. So that's the strategy I'd go with it too.

Not that I'm an expert on this, and I don't even play one on the internet, my strategy is I'm mining ETH (the difference on my rig is not enough to make up for fee's) directly, plus dual mining DCR to Nicehash which then gets converted directly to BTC. I can then transfer the BTC free to coinbase and either sell (through GDAX) enough to pay for operating expenses or maybe sell it to convert to ETH or LTC. I'm probably not going to hold BTC (but we'll see) because I personally think there are better crypto's for the long term (due to the technical issues with BTC and the network). Right now I also have an old R9 280x mining to either NiceHash (to convert to BTC) or Mining pool hub (to convert to LTC) depending on what is most profitable for it at the time as it only has a few algo's it can mine profitably.