All About BTC, LTC, ETH mining as well as other alternative crypto currencies
In a couple of hours the initial slow start of mining for Zcash will finally be over after a bit over a month since the official launch of ZEC. There are already less than 100 blocks remaining until we reach the 20000 block where the block reward gets to the full 12.5 ZEC. So if you were mining and selling up until now in order to get the maximum out of the slow start phase of mining, now you may also consider the option about mining and holding some coins long term as well. That of course is not a sure strategy for making profit, but sounds like a reasonable idea considering the fact that there is still a lot of interest in Zcash and after some time it may start going up in terms of an exchange rate. At the moment the exchange rate of a single Zcash coin is at about $63.6 USD and it has been pretty stable lately even with the slowly increasing block reward until it reaches the full 12.5 coins per block. Some people consider that this is still a pretty high valuation for ZEC at this point in time, but then again it is also up to the market to decide what is the actual value of the ZEC coins. There is the chance that the value may drop or rise up, so be careful what are you deciding to do after the finish of the slow start of mining phase…
After the initial craze due to the scarcity of Zcash (ZEC) coins and the big demand the prices has skyrocketed, but now with the slow start of mining progressing and the total block reward almost at 4 ZEC things are starting to stabilize. The initial crazy high profit for mining and selling Zcash coins seems to be over and at the moment mining and selling ETH or ZEC does bring almost the same profit for some GPU miners, though not for all. Miners with older AMD Radeon 79×0 and 280X GPUs still have higher profit mining Zcash than Ethereum, but for users with RX 480 for example things are already on the line to switch back to Ethereum. Nvidia seems to be currently lagging as far as performance optimizations for Zcash go, so the profitability there could be better for another algorithm or mining for another perspective in the long term crypto coin might also be a viable option.
You can keep track of the current profitability with the help of some useful mining calculators like the ones provided by CryptoCompare for both Zcash (ZEC) as well as for Ethereum (ETH) along with a few other popular coins such as Ethereum Classic (ETC), Monero (XMR), DigitalCash (DASH) and Litecoin (LTC). Make sure you set the correct hashrate your mining hardware is providing for each algorithm to make a proper calculation as different GPUs do provide different hashrate for the various algorithms. Do note that Etheeum Classic might also turn out to be pretty profitable alternative as well for some video cards that are still providing higher hashrate for the Ethash algorithm.
Zcash (ZEC) had a good start, but there were trouble with different pools and miners, even though everyone was willing to mine due to the overblown initial price of ZEC coins and their scarcity on the market. Now things are already starting to stabilize with prices going down to a more reasonable level, pools having less trouble and more miners to choose from. The slow start implemented for the launch of Zcash is working as expected with the block reward just a bit short from 1 ZEC at the moment and a network difficulty of 2,585,881 Sol/s with just about 751 ZEC coins mined so far (20% of them in the hands of developers).
Just as we have expected and predicted the big interest and a lot of hype have materialized in high demand and big initial price and while the price is still pretty high it will continue to go down as the block reward increases and more ZEC coins become available on the market. So if you are mining ZEC at the moment it might be wise to sell them now and later on buy more at a cheaper price with the money you have made from mining at the moment… seems like the most reasonable thing to do, otherwise the hard mined coins now will be worth even less in a couple of days.
The positive effect from the big move of mining hashrate to mine Zcash is that some other coins have become more interesting to mine if you are mining and holding on the long run than instead of mining and selling immediately for profit like you might be doing with ZEC. So now that the profit is not as big as at the initial launch you might also look around for alternatives and see if they might have become more interesting to mine than they were before the Zcash launch.