Zcash diff, why is it so high?

mining
zcash
diff

#1

Hey folks!

I’ve been mining Zcash for awhile now, mainly because I think the project is great and also due to its stability and constant improvement from the developers side. But I’ve noticed its mining difficulty has drastically increased over the past few weeks.

As much as I’m concerned, difficulty increases when a coin price goes up and becomes more profitable to mine then all miners switch to the coin in question…but nowadays Zcash’s price is so low and diff so high it doesn’t make any sense (Source: whattomine)
Seems to me like some people have the feeling or actually believe the coin will sky rocket any time soon

I just wanted to know you guys point of view respect this current situation :slight_smile:

Have a great weekend by the way!


#2

Could be another Monero situation where because of the private nature of the protocol malware is infecting lots of devices and driving up the difficulty?

Just a theory. I have no evidence of this what so ever.

Z cash is also really easy to mine and its one of the first ones new miners start with because its well known, highly liquid, and has plenty of easy to access pools.

I know I did a tutorial video on how to mine zcash way back in the end of 2017 (what’s that like 7 years in crypto time?)


#3

The reason is ASIC miners.


#4

haha Funny one =P ! But really… If I was a new miner, I’d go to the one that gives me the most revenue, I’d want to get to roi as soon as possible right?

@seikin as far as I’m concerned equiihash is not compatible with ASIC miners and even if it were…why mine a coin so low in price, when you can put it to mine on nice hash and make more profit?


#5

@Alpha1, Equihash is mined by ASICs. Bitmain’s Z9 Mini and Z9 Daddy, Innosilicon’s A9.

I use ASICs for ZCash, making around $50 per day even at today’s price. It’s plenty profitable, with a ROI of around 2-3 months. My first batch of miners have ROI’d already, my second batch will be ROI’d in a couple of weeks.

The Equihash ASIC’s are not compatible with Nicehash.


#6

50 a day at today’s values is pretty good, although, how many ASICs you have to have running in order to earn that amount per day?


#7

I have 4 x Z9 Mini’s producing around 60,000 Sols, using around 1600W. I sell my ZEC for BTC almost every day. At the beginning of July it was around 0.25 BTC per month, now it’s around 0.19 BTC per month.


#8

Yeah I just did the math and the numbers are the same as yours…hey!! These are pretty profitable! taking into account that you get to Roi in such short notice EVEN in times like these in which the prices are really low… interesting info you just gave me…but hey all those 4 Asics are using 1600 watts? or that’s what each of those eat up?

What’s the best place to buy one of these?


#9

Each ASIC is overclocked and consume around 400W each.


#10

Wow, pretty efficient! Way more than GPU’s

Which place you recommend me to get one of these? because I see them on ebay but prices vary a lot.


#11

I ordered mine through Bitmain, but you might be able to buy them locally where ever you are.

There is also the Innosiliicon A9 miner, but I have no experience with those. I think there has been a recent influx of new ASIC miner brands, but you will need to research those yourself.

I think the most important mind set if you go down the ASIC route, is to know they will not be profitable for very long, unless you keep adding more miners to your set-up.


#12

But isn’t it the same with video cards? Diff went up and I’m making way less than before… The only good thing about video cards is that you can use it for another purposes. I knew about ASICs for Bitcoin but I had no idea these ones for Zcash existed already, for how long have they been out there? Do you think is already too late to buy them?


#13

Yes, it is similar with GPUs, but as you said at least you can use them for something else once they are not profitable for mining.

I’m not sure if it is too late for jumping on to the ASIC mining of Equihash. Depends on the price of the miner and it’s estimated ROI. The Innosilicon A9 hashes at 50,000 Sols per miner, but costs way more than the Z9 Mini. You will need to do your own calculations to see whether it is worth the risk.


#14

I went to Bitmain’s site and is listed for less than 800, it will take like a month to ship it to where I live.

That Innosilicon, is it newer?

I’m thinking about Sol/s and consumption…I am mining at way lesser than a single Z9 mini and using almost up to twice as much your setup uses so…less PSU’s less heat…less electricity bill. I think all of that compensates for the limited use one can give to a ASIC, but like you said I will keep on doing calculations and research on the matter.