That's because zcash is more profitable to mine than Ethereum. Personally, I think anyone mining for profit that isn't mining multiple algorithms is leaving potential profit on the table. Most of the time right now my GPU miners (GTX 1070s) are mining Equihash, but today dipped into Neoscrypt and periodically switches to daggerhashimoto as those were the most profitable at the time. Nicehash is paying really well right now for X11 and Equihash, but once those reduce in profitability i'll switch back to zpool multi algo mining, or whatever comes along next.
Mining for profit is a constantly changing landscape that you need to keep updated on. There's no one algo that pays the best all the time. Heck there's some lesser known one's like skein that have been killing it for the last couple months until the pump for zcash, dash and ethereum hit.
Just keep watching the markets and keep switching!
Jake
Hi again everyone. I wasn't planning on doing another one of these but after doing a bit more research I'm getting a bit worried about the long term profitability of a mining rig.
It's already proven true that mining Ethereum is profitable right now but what are you guys going to mine after it switches to proof of stake?
I'm not sure if my sources are false but I've read that 1 sol == hash in Zcash and an rx 470 should produce about 30 sols per second. This means il be losing over 400 dollars a year. Even in monero at 550 hashes per second each il only be profiting 400 dollars a year apposed to Ethereums 1000 dollars a year. That profit for monero will probably even go down because many Ethereum miners will go there.
Am I boned if Ethereum incorporates proof of stake unless I have like 12 graphics cards? Please tell me my math is wrong or I'm looking at the wrong altcoins because otherwise I'm not sure if buying 3 graphic cards now is worth it.
470/480 get about 300+ sol/s not 30
Are you sure? That would make it more profitable than mining Ethereum. Every Zcash forum i have read about the rx470/480 suggests that they average 30sols/s