ZCASH Genesis Mining

Tomorrow is the big launch of ZCash, a new cryptocurrency designed around anonymity. ZEC will have a similar mining reward like bitcoin, at 50 coins per block being reduced by 50% every four years. The main difference being that the ZEC launch will trickle feed mining rewards for 27 days, with only 104 coins mined on day one. 

ZCash is purposely made to be memory intensive to encourage CPU mining and avoid ASICS. The pre-market valuation on BitMex ZEC futures is 0.783 BTC ($533 USD). The high price is based on the fact that supply will be limited and there appears to be strong demand. That said, if price discovery of ZEC has a high valuation, then there’s a strong chance it will crash once more supply hits the markets. It’s also possible we’re in a pre-market bubble.

ZEC Genesis Mining Test

If the price of ZEC is too high during the first few weeks I’ll wait till after to the crash to accumulate. Due to a lack of market liquidity, it’s possible we’ll see some volatility for day trading. 

I’ve decided to test out the ZEC Genesis mining contract to see if it’s profitable. I’m generally skeptical of cloud mining because many of them are scams. Genesis mining seems to be legit but may not be profitable.

That said, I wanted to test it out with a small amount and will report on its progress. I bought a year contract of 4 h/s at a cost of about 0.274 BTC ($186 USD). I’m starting off conservatively and may increase my hashing power if mining proves to be efficient and profitable. 

zcash2

Affiliate Program

Genesis mining has an affiliate program that rewards both users with an increase in hashing power. Use this code gq25kr when you sign up and you’ll save 3% off your contract. You will automatically become an affiliate and can increase your hashing power by 2.5% of the purchased amount of anyone you sign up.

I will do an update in a week to report how much money I’ve made, including any affiliate commission. If you do decide to test this out, use play money that you can afford to lose because ZCash is still experimental, and nothing is guaranteed with cloud mining. 

Rocky

Crypto trader and investor. My preferred style is swing trading and longer term accumulation plays. I help coach traders and share my trades over at skillincubator.com
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