Easy way into Zencash CryptoCurrency via Mining Rig?

[mattfx]

Was talking to a couple of friends of mine about Zencash. One of them went on to build his own mining rig - a £1200 investment. However, he has worked out that he will receive approximately 9-10 coins per month based on his build. He has purchased the rig on 0% finance and spread it over the year, so assuming the coin carries on above the $30/coin mark and the mining difficulty doesn't greatly increase all of a sudden, even with the finance he's immediately making money from the currency.

I think the power consumption worked out at a couple of quid a day... Even with that considered, you'd still be quite well up on your investment, especially once the rig was paid off.

[pjclarke]

Was talking to a couple of friends of mine about Zencash. One of them went on to build his own mining rig - a £1200 investment. However, he has worked out that he will receive approximately 9-10 coins per month based on his build. He has purchased the rig on 0% finance and spread it over the year, so assuming the coin carries on above the $30/coin mark and the mining difficulty doesn't greatly increase all of a sudden, even with the finance he's immediately making money from the currency.

I think the power consumption worked out at a couple of quid a day... Even with that considered, you'd still be quite well up on your investment, especially once the rig was paid off.

So about $300/month. Or £220. Minus £60 for power. So about 14% ROI per month.

Not bad, a contract with a miner might do better. My Genesis Bitcoin contract is returning about 29% per month and no charge for power.

[scooterscot]

And if Zencash is worth around $300 dollars by the end of 2018, how would you feel then?

[ChimpMaster]

So about $300/month. Or £220. Minus £60 for power. So about 14% ROI per month.

Not bad, a contract with a miner might do better. My Genesis Bitcoin contract is returning about 29% per month and no charge for power.

Have you got your initial investment back yet?

A number of these mining schemes are either known or suspected to be scams, Ponzi schemes.

At 29% ROI per month you will have your money back in 3 months, all going well.

[pjclarke]

Have you got your initial investment back yet?

A number of these mining schemes are either known or suspected to be scams, Ponzi schemes.

At 29% ROI per month you will have your money back in 3 months, all going well.

Started 1st August, breakeven date was 11 November at current prices. Initial investment was £887, current profit £454, almost all due to the skyrocketing price. Mining about 0.085% of a bitcoin / day, no measurable reduction in mining rate.

Some of my earnings were reinvested, but they seem to have stopped doing the open ended contracts now. Never had any issues with payouts.

[Hobosapien]

Is mining affected by the imminent Intel 'meltdown' patch or the Intel/AMD 'spectre' patch, that may cause a predicted 'up to 30%' slow down?

Lots of unhappy miners if so. Though I guess they just won't bother installing the patch.

[BrilloPad]

Is mining affected by the imminent Intel 'meltdown' patch or the Intel/AMD 'spectre' patch, that may cause a predicted 'up to 30%' slow down?

Lots of unhappy miners if so. Though I guess they just won't bother installing the patch.

So plan B is to hack them.....

[scooterscot]

I'd sooner set up a secure node to make more zens rather than mining them...

[northernladuk]

Is your friend considering tax as well in his calculations?

[Jog On]

Is your friend considering tax as well in his calculations?

Is today 'Crypto tax day'?