There is no doubt about it, I have never known anything quite like the Z-cash launch and I need to keep pinching myself to keep my feet firmly planted on the ground. Right now (2nd November, midday) on the Bittrex exchange, the price is still over $1,000 for a ZEC. On the Poloniex exchange it is over $1,050 for a ZEC.
The price has been bouncing over the last week between around $1,000 and (literally) 10's of thousands of dollars and whilst I understand why z-cash is popular and exceptional, I can't understand the utter mayhem with its price.
I believe that it has captured the imagination of many for two reasons. The first is that it is exceptionally well put together with its emphasis on security coupled with the extremely well planned development and instigation of its phased mining launch.
The second reason is that feels like, to many, another opportunity to experience the early days of Bitcoin when it could be mined with ease, on home computers and it held the promise of massive future value.
Now, I'm trying to largely ignore those outrageously high prices as I do not want my head to swoon and I do, of course, realise that the only available z-cash out there, in reality, is the tiny amount that has been mined since launch on the 28th October. Inevitably, as time goes by and more comes into the market those prices will stabilise I guess.
But the fact is that, if it even comes close to stabilising at Bitcoin-like prices, I will be blissfully happy when I start to accumulate viable levels of this stuff.
I should declare that, in addition to the Bitclub Z-cash shares I purchased, I also decided to buy some external mining shares directly through Genesis and I hope to be able to get a real feel for how both mining pools do very soon.
The big difference between the (let's call them direct) mining shares I have at Genesis and the (let's call them indirect) mining pool shares at Bitclub is that the Bitclub shares have no fixed term. And my "interest" is in the hardware itself which could, if necessary or favourable, mine other cryptos in the future. But I could be mining ZEC for years to come using those Bitclub shares and certainly long after my Genesis shares have expired.
With the Genesis direct deal, the shares I hold are for one year and are absolutely for ZEC mining. However they should produce more in that 12 months period than the Bitclub shares produce. I would guess they could produce as much as twice the amount over 12 months but a direct comparison is impossible currently as I have no idea how much power my shares in the Bitclub z-cash pool hold.
But there is no contest in the value of what I hold. Bitclub, even at half the rate of ZEC production, could go on mining ZEC on my behalf for 10 years. To get 10 years from Genesis would require 10 more purchases annually.
If you are not a paid member of Bitclub yet and you want to become one to get your own share in z-cash mining then feel free to contact me. Use the email address profitmagnets@gmail.com or Skype me using the contact name profitmagnets. Rememebr though if you plan on moving on the z-cash shares you will need to contact me sooner rather than later as the new batch offer opens up in two days on Friday. All purchases are made in Bitcoin.
What follows is taken from the Bitclub News feed of 31st October:
Over the next several weeks Bitclub will continue to modify and become even more efficient and profitable with its Z-cash mining.
We expect to begin paying Z-cash out to BCN members by the end of this week and the process will be very familiar if you already have a Bitcoin or Ethereum mining pool share.
You will need to set up an external Z-cash wallet and save it to your profile within Bitclub, then you can request withdrawals from your BitClub wallet to your external wallet.
Z-cash is exploding right now and the demand for it is crazy! Right now, at the time of this Bitclub update, Z-cash is trading at about 2.5 Bitcoin per ZEC ($1,800 USD). We believe it's just the beginning for this coin and we are lucky to be in such a good position to mine it.
During the initial phase each block mined is only paying about 1.4 ZEC today but this continues to grow on each block for the next 30 days until it hits 12.5 ZEC per block around December 1st.
Then it will be a steady 12.5 per block for about 4 years.
BitClub is going BIG on Z-cash!
Since closing the pool we've been flooded with requests from members wanting to buy shares and get in on Z-cash. So we are happy to announce that we have secured another $4 million in mining equipment that will be ready by the first week of December.
These GPU's are not easy to get right now because of the huge demand in this market, however with our relationships we have been given top priority to place this order of $4 million (which is the entire available supply at this time from our source)
This means we now have 4,000 more shares that will be available starting from Friday November 4th 2016.
We will once again have a countdown clock for you on Friday to make it fair and there will be no restrictions on purchasing these shares. This offer will stay open until its sold out and these shares will begin paying ZEC in December.
NOTE: This batch is a pre-order and will not start producing until December when it's hashing Z-cash.
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