ZCash...500 BTC worth mined every day?

thejaytiesto

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Quote from: adhitthana on November 21, 2016, 03:00:27 PM

Zcash is trading at 0.075 BTC.

7200 Zcash are mined each day. About 500 BTC worth. About $350,000 each day

The founders reward is 20% for the next 4 years.

Therefore if prices stay where they are the founders will get about $70,000 every day for the next 4 years.

Is that right?

This is pretty ridiculous. I can't invest in a coin that had such a ridiculous start and now it seems like the supply is going to get getting bigger at a stupid speed, and the owners get way too much money. Sure the price should go down, but the rest of people are going to be lossing money if they keep holding.. so what's the point? how do you make the price of this coin go up anytime soon?

Zadicar

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Quote from: Pursuer on November 22, 2016, 10:29:14 AM

Quote from: PAMPT on November 21, 2016, 04:59:03 PM

The problem with this one is the absence of bitchy bottom. Can be 0.02 or 0.002 or 0.00002. Or 0. My speculation is that ZEC will look like a middle finger during the next 15 to 25 months, so theres a chance I will get departed to Nepal sooner than it finds the bottom. Pretty high odds for that.

that is right.
what OP is saying translates into 7200 Zcash are dumped each day on the market and that is more than enough to help predict the future price crashing to the ground.

to be honest I wouldn't be surprised to not see Zcash anymore in 2-3 months.

It would surely dump because people would surely mine more zec just to get bitcoins and as you mentioned this coin will surely dumped hard and would be the same on all altcoins the we saw that becomes a shitcoin. I dont know whats the plan of devs of releasing this coin maybe just for money purposes.

Pursuer

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Quote from: PAMPT on November 21, 2016, 04:59:03 PM

The problem with this one is the absence of bitchy bottom. Can be 0.02 or 0.002 or 0.00002. Or 0. My speculation is that ZEC will look like a middle finger during the next 15 to 25 months, so theres a chance I will get departed to Nepal sooner than it finds the bottom. Pretty high odds for that.

that is right.
what OP is saying translates into 7200 Zcash are dumped each day on the market and that is more than enough to help predict the future price crashing to the ground.

to be honest I wouldn't be surprised to not see Zcash anymore in 2-3 months.

shinratensei_

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Quote from: eckmar on November 21, 2016, 04:30:27 PM

Quote from: adhitthana on November 21, 2016, 03:00:27 PM

Zcash is trading at 0.075 BTC.

7200 Zcash are mined each day. About 500 BTC worth. About $350,000 each day

The founders reward is 20% for the next 4 years.

Therefore if prices stay where they are the founders will get about $70,000 every day for the next 4 years.

Is that right?

Well i guess that was the reason they created ZCL (Zcash Classic) which had potential to be good coin but development is really shit.

The Dev of ZCL was feeling optimism if their coin will surpass ZEC, but both was becoming same shit right now.
And the another Zfork will come soon, May it get call ZDASH (Zero Digital Hash)
Feels curious for see how a new fork will worth.

raphma

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it's a "marketing/FOMO based" coin.
there's no reason for that price and the supply is increasing every day. Like has been said, the price will keep falling.

Even after december, after all the forks and problems in zcash, i dont see the price going up again for a long time(and the devs will probably dump some coins, they need money too).

amacar2

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Quote from: ChinkyEyes on November 21, 2016, 06:39:14 PM

Did the founders sell their coins or do they still have them?

They also know that with increasing supply rate day by day price will fall quickly, so i don't think they are not storing all those 20% founders reward. Price have dropped significantly over few weeks and it will keep on dropping because zcash that can be mined per day is increasing by time just opposite to bitcoin.

buwaytress

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Quote from: Febo on November 21, 2016, 03:34:48 PM

There is about 4500 ZEC mined daily right now. In 2 weeks time yes there will be 7200. What will be price then or next year on 4 years form now no one knows.

Well I for sure know that next years price have 0.0001% chance to hit the current price.

Good odds, relative to the way it's performing now anyway! Why aren't any of us surprised at these numbers? Because whether we want to admit it or not, we all knew it was just another alt-for-profit, regardless of (or maybe because of!) the early hype around it.

clickerz

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Quote from: boost523 on November 21, 2016, 07:39:05 PM

price will go down quickly

I agree since people will be attracted to mining and almost all coins mine will be dump daily. If this continue, then demand will diminished over time. Is there a use for this coin?

boost523

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price will go down quickly

xuan87

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I doubt that ZCash can stay at that rate, usually after few weeks the price will drop significantly and in the end the price will be worth almost nothing, the developer team need to find way to advertise and attract more user to use the coin, i know this coin had been invest by early adopter but if nobody spend the coin and the coin keep being mined, Zcash will be same with another failed alt coins

ChinkyEyes

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Quote from: adhitthana on November 21, 2016, 03:00:27 PM

Zcash is trading at 0.075 BTC.

7200 Zcash are mined each day. About 500 BTC worth. About $350,000 each day

The founders reward is 20% for the next 4 years.

Therefore if prices stay where they are the founders will get about $70,000 every day for the next 4 years.

Is that right?

Did the founders sell their coins or do they still have them?

PAMPT

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The problem with this one is the absence of bitchy bottom. Can be 0.02 or 0.002 or 0.00002. Or 0. My speculation is that ZEC will look like a middle finger during the next 15 to 25 months, so theres a chance I will get departed to Nepal sooner than it finds the bottom. Pretty high odds for that.

cryptohunter

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I guess the price still has a good way to go down as yet.

eckmar

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Quote from: adhitthana on November 21, 2016, 03:00:27 PM

Zcash is trading at 0.075 BTC.

7200 Zcash are mined each day. About 500 BTC worth. About $350,000 each day

The founders reward is 20% for the next 4 years.

Therefore if prices stay where they are the founders will get about $70,000 every day for the next 4 years.

Is that right?

Well i guess that was the reason they created ZCL (Zcash Classic) which had potential to be good coin but development is really shit. Anyway as for Zcash founders, price is constantly dropping. Right now I wouldn't say its even worth mining over ETH/ETC so they will make even less when what's left of miners switch back

Febo

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There is about 4500 ZEC mined daily right now. In 2 weeks time yes there will be 7200. What will be price then or next year on 4 years form now no one knows.

Well I for sure know that next years price have 0.0001% chance to hit the current price.

adhitthana

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Zcash is trading at 0.075 BTC.

7200 Zcash are mined each day. About 500 BTC worth. About $350,000 each day

The founders reward is 20% for the next 4 years.

Therefore if prices stay where they are the founders will get about $70,000 every day for the next 4 years.

Is that right?

Topic: ZCash...500 BTC worth mined every day? (Read 793 times)