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Getting Started Mining Zcash with the Video Guide: For a short overview of what is Zcash read this post. The good news is that getting started with Zcash mining is very simple. For the purpose of this guide, we’re going to do a detailed walk-through of setting up and using the very popular Nvidia EWBF Miner. If you have AMD cards, mining Ethereum is usually your most profitable option. However, if you have Nvidia cards, or if you’re in the market to buy new cards and can’t find any well-priced AMD cards, then mining Zcash on Nvidia GPUs is still very profitable with the EWBF Miner, which is highly optimized to get the maximum performance out of Nvidia’s Cuda cores. The whole process of getting set up, downloading your miner, configuring Windows, and setting up your batch file to run should take less than 20 minutes.
Follow along with the steps in the video guide below, or read on for a full text guide. Many influential people are very bullish on Bitcoin’s future prospects. BTC can easily be sold for cash, so mining ZEC can be a good way to indirectly fill your bank account or earn cash. ZEC can also be sold directly on some major exchanges. Mining can be a cheap entry ticket to the Zcash markets, which are loved by traders for their high volatility. Building a large ZEC position through mining now may allow you to take advantage of price appreciation in the future with less risk than you’d face by just buying ZEC. Let’s break this idea down a bit further.
Mining and holding crypto is similar to the old adage of buying low and selling high, except for the fact that most buyers don’t know how to do technical analysis, so they buy and sell at the wrong times. They buy high during parabolic price increases and sell low during what could be normal price corrections on continued upward trends. Buying gear and mining cryptocurrency with it allows you to own an income-producing asset in the gear itself, with aftermarket resale value holding up very well and even appreciating. GPUs purchased for mining in 2015 and 2016 were often sold at a profit in 2017 due to high demand in the market! Allowing your gear to earn money and selling that gear when you reach your target can allow you to make nearly all your money back on the gear and pocket the crypto generated as profit. 5-minute block time, compared to Bitcoin’s 10-minute blocks, and it produces a block reward of 10 coins per solved block.
Hashrate, Difficulty, and Price The total network hashrate has been climbing rapidly since its launch in 4Q16. So if the amount of hardware dedicated to Zcash mining is rising, why aren’t blocks being mined more and more rapidly to decrease the average 2. By automatically adjusting the computational difficulty of solving a block, the Zcash blockchain is able to maintain 2. The next obvious question is why hashrate and difficulty have been rising in the first place. The takeaway here is that the hashrate has followed the price explosion, which really took off in May and June 2017. 50 USD in a few short months. Calculating Zcash Mining Profitability Now that we have a clearer understanding of the Zcash blockchain and important concepts such as difficulty, it’s time to perform some economic calculations.