equihash difficulty bomb?

[blockchange88]

hey guys. moved all my rigs over to nicehash equihash server for some peace of mind. cant be monitoring profits, and worrying about alts prices against satoshis right now. was making around 0.01 btc just a few days ago, but it has drastically dropped into the mid 0.008s. what gives? has equihash coins difficulties been rising that much in a few days? not a noob, dont troll me, ill troll you back harder. BTCBTCBTC

appreciate any input. thanks folks.

[philipma1957]

flex in prices affect you.

say diff is flat

you are converting the zec to btc


simple math  1 zec a day in earning = .1 btc

zec price stays flat
zec diff stays flat

but btc moves from 9000 to 10000 usd


since all was flat  except btc  

2 days ago .1 btc was 900
now  .1 btc is 1000

since all was flat  you ultimate number of btc drops  to about 0.09

and in both cases you earn the same in usd 900

this is kind of what happens  if btc price moves up quicker then zec price

[greenfailure]

more hashing power on the network, (see nicehash equihash) means each user will receive less BTC for their static hash rate. Basic math if you ask me.

Looks like many will be mining equihash into the ZCL fork at the end of the month (myself included).

[Soulforged]

The algo you are mining doesn't really impact the returns you are making and there's no link between different currencies which use the same algo. For example, changes to the Ethereum difficulty doesn't impact Ubiq returns even although they use the same algo.

With Nicehash the return you get is based on:
Supply (how much hash power is pointed to Nicehash)
Demand (how many people want to buy hash power)
Price paid (how much buyers pay for a particular algo)

If the price is going down then it's likely either more hashing power being pointed to Nicehash or the buyers not willing to purchase as much hashing power at the moment.

You mentioned your not new to this so you probably have already come across this site: https://whattomine.com. it's pretty good at showing you the ups and downs of the different coins for a particular algo.

[blockchange88]

@ soulforged. thanks for the input. yea i use whattomine to gauge profitability, but always take it with a grain of salt. usually equihash nicehash is up there in the top 3. was surprised to see it around HUSH in terms of btc revenue over 24hr estimate.

@phil your answer was on point. i never thought of it like that. so if zec sees a price boost in satoshis, our nicehash profitability rises, if i understand correctly?

@greenfailure - if more people are trying to throw hashes at zcl for the fork, wouldnt that drive up the demand for our power?


thanks folks, gave me some food for thought. i was mining zec/zen in 2017 early 2018. switched over to nicehash on jan 31st because i found that btc was seeing more %age growth recently than zec (this is not budging) zen had a nice pump and is now stagnating. maybe i should look into setting up a zen secure node that everyone is talking about. only 42 zen for a node doesnt sound bad for a hodler. i gotta say, people that hodl privacy coins have got to have some of the strongest hands in the game. these coins DO NOT pump until every other shitcoin gets their day. lol heres to the white knuckles :cheers:

[szafa]

Some people think like you and diff sky .

[blockchange88]

Some people think like you and diff sky .

how so? im in this for the satoshis. i dont think 95% of other tokens coins will survive. how are some of the icos generating more wealth than real companies with products? they dont even have a minimum viable product on their roadmaps until 2022.

i posted this earlier this month, some insight into my mentality.

"theres no free lunches in crypto. somebody spending 50$ and mining a new coin is taking as much of a gamble as somebody going shitcoin shopping on cryptopia, or a miner speculating a coin before it hits the markets of right after it hits. nicehash gives steady comfortable income in the form of btc that i can hodl. i think you and i have discussed this on a previous thread. on the other hand, i could mine zencash, and hope that over the course of the next 12 months, its %age growth stays on par w/ btc or more. i cant deal with that stress, diversifying my rigs by 50-75% on nicehash, and use the rest of my hash power to speculate.

ill say this, i invested quite a bit into the market last year trying to find those 20x 50x gains, but had i just maintained my portfolio in the tried and true btc eth (i prefer etc, because its the real decentralized ethereum) and ltc, id have made millions. instead, i tried to fuck with different coins like vertcoin (shouldve sold at 10$) or monacoin (also shouldve sold). when i say sell, i mean convert to btc. til now i havent cashed out a single dollar, and all my calculations are done in sats. on coinmarketcap, i view all the markets in btc, not usd. this is the way people should invest. i made the mistake early on investing against the USD instead of BTC, and it cost me. im still in the green, but not retirement at 30 green like i couldve been."

[philipma1957]

@ soulforged. thanks for the input. yea i use whattomine to gauge profitability, but always take it with a grain of salt. usually equihash nicehash is up there in the top 3. was surprised to see it around HUSH in terms of btc revenue over 24hr estimate.

@phil your answer was on point. i never thought of it like that. so if zec sees a price boost in satoshis, our nicehash profitability rises, if i understand correctly?

@greenfailure - if more people are trying to throw hashes at zcl for the fork, wouldnt that drive up the demand for our power?


thanks folks, gave me some food for thought. i was mining zec/zen in 2017 early 2018. switched over to nicehash on jan 31st because i found that btc was seeing more %age growth recently than zec (this is not budging) zen had a nice pump and is now stagnating. maybe i should look into setting up a zen secure node that everyone is talking about. only 42 zen for a node doesnt sound bad for a hodler. i gotta say, people that hodl privacy coins have got to have some of the strongest hands in the game. these coins DO NOT pump until every other shitcoin gets their day. lol heres to the white knuckles :cheers:

diff does matter

but  zec price to btc price matters just as much

technically on nicehash  it is more complex  then  zec price to btc price ratio

it is combined equihash price values + nicehash demand(charge to rent) to  btc price ratio


my simple example  was just zec to btc.

but on nicehash  all coin prices under algo create a number that renters will pay you.

that number  I reduced to zec only to keep it simple.

and of course  the diff factor has  the same issue  since it is many diffs  under the one algo

[blockchange88]

@ soulforged. thanks for the input. yea i use whattomine to gauge profitability, but always take it with a grain of salt. usually equihash nicehash is up there in the top 3. was surprised to see it around HUSH in terms of btc revenue over 24hr estimate.

@phil your answer was on point. i never thought of it like that. so if zec sees a price boost in satoshis, our nicehash profitability rises, if i understand correctly?

@greenfailure - if more people are trying to throw hashes at zcl for the fork, wouldnt that drive up the demand for our power?


thanks folks, gave me some food for thought. i was mining zec/zen in 2017 early 2018. switched over to nicehash on jan 31st because i found that btc was seeing more %age growth recently than zec (this is not budging) zen had a nice pump and is now stagnating. maybe i should look into setting up a zen secure node that everyone is talking about. only 42 zen for a node doesnt sound bad for a hodler. i gotta say, people that hodl privacy coins have got to have some of the strongest hands in the game. these coins DO NOT pump until every other shitcoin gets their day. lol heres to the white knuckles :cheers:

diff does matter

but  zec price to btc price matters just as much

technically on nicehash  it is more complex  then  zec price to btc price ratio

it is combined equihash price values + nicehash demand(charge to rent) to  btc price ratio


my simple example  was just zec to btc.

but on nicehash  all coin prices under algo create a number that renters will pay you.

that number  I reduced to zec only to keep it simple.

and of course  the diff factor has  the same issue  since it is many diffs  under the one algo

thanks phil.

 "I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions."

just noticed your quote. we're on the same boat.

[Hagfors]

Yeah, the profit of equihash measured in BTC has dropped a bit in the last couple of days due to the massive influx of hashing power. (20% give or take) It is still probably the best algo for Nvidia cards so there is not a lot to do about it.

[vlad230]

Don't forget that the block reward is also a factor in this calculation.
If it reduced lately then you will also receive less.

[fanatic26]

If you are mining a coin then doing a comparison after converting it to something else you are just flat out doing it wrong. You are introducing extra factors that affect the calculations. In general if you are converting the coin you mine you are making a big mistake and triggering an extra tax event, at least in the US. HODL always wins.

[Metroid]

Converting any altcoin to btc is a big mistake and the same could be said when you convert btc to usd. You trolls never learn and nicehash only wins ehhe as always hehe

[blockchange88]

Converting any altcoin to btc is a big mistake and the same could be said when you convert btc to usd. You trolls never learn and nicehash only wins ehhe as always hehe

i think you mean converting btc to any altcoin. i concur.

[Metroid]

i think you mean converting btc to any altcoin. i concur.

You dont get do you? If you believe in bitcoin then you should never buy or hold bitcoin and instead only buy altcoins cause is proven that when bitcoin rises 10%, altcoins rise 100%, now do the math.

[blockchange88]

i think you mean converting btc to any altcoin. i concur.

You dont get do you? If you believe in bitcoin then you should never buy or hold bitcoin and instead only buy altcoins cause is proven that when bitcoin rises 10%, altcoins rise 100%, now do the math.

this only works if you sit by your computer and watch the markets everyday. i dont have the stomach to day trade. i look at my mining as kind of like dollar cost averaging into bitcoin. its a tried and true method that has made me a small fortune in the S&P sticking with blue chips that pay dividends, and also my fidelity portfolio. if you want to gamble, just mine coins and speculate, or buy massive power on nicehash, and blow coins to oblivion.