Who is buying ZEC at such ridiculous price? I already felt ZEC was expensive at 0.7 BTC yesterday. Now the price is ridiculous.
Buying now is like buying an expensive hot potato. Upside is limited but you have everything to lose as the price can suddenly go down with the increasing supply day by day.
it's not ridiculous when you take into account the fact that the reward is 1.38 x 576 min(block time 2.5 minutes), give you roughtly 800 coins per day, at current price it's like 2k btc being mined each day
now compare this to etheruem where 28.800 coins are produced each day, each one is 0.014 btc around 420 coin, but etheruem is dumped, before it was 0.02 or 0.03, so zcash it's like etheruem in its prime
---
2.5 minute block times, 12.5 ZEC per block
(so the same 50 ZEC per 10 minutes as Bitcoin)
- During the first four years, 80% goes to miners and 20% to Founders' Reward (so miners get 10 ZEC per block for first four years, then 6.25 ZEC, and then halving after)
- During the first ~month, the block reward ramps up linearly from 0.005(ish?) ZEC to 12.5 ZEC
---
I calculated after 1 month the newly mined coins 12.5 - dev.reward = 10 coins a block. One days has +/- 576blocks = 5760 coins added (a day) to the economic. And dont forget there is almost none support from the "normal" non-crypto community for ZEC, Bitcoin has a worldwide support in stores etc.etc.
Prices will drop within a few months from now...below the BTC price.
12.5 reward for each block will be in 34 days, right now it's only barely 1.5, so pretty low, daily supply is not even 1k, the price is still to high
because they are basically producing 2k bitcoin per day, which is more than what miner produce from mining bitcoin directly
