In the frenzy of the cryptocurrency market, the privacy coin Iro Fish, led by a16z, encountered misfortune at the opening, and its price plummeted by 62%! Does such ups and downs mean that holders need to wait up to 7 years to get their money back from mining? Let's analyze the details behind this incident.

Investment Risk and Return

In the digital currency market, investment risk and return have always been closely linked. As a well-known venture capital institution, a16z's leading investment in Iro Fish has undoubtedly added a lot of halo to it. However, the unpredictable market makes any investment not completely safe. Iro Fish's opening plunge of 62% undoubtedly sounded the alarm for investors, suggesting the uncertainty and risks of the digital currency market. Long-term holding of digital currencies requires patience and confidence, and sometimes even requires a long wait to realize returns.

Privacy features of Iro Fish

As a privacy coin, Iro Fish was originally designed to protect users' transaction privacy and data security. In today's era of information explosion, privacy protection has become particularly important. However, the development path of privacy coins is not smooth, and the market's recognition and acceptance of privacy coins still needs to be improved. Iro Fish's opening plunge may also reflect the market's concerns and doubts about privacy coins. Investors need more time and effort to promote the development of privacy coins and make them truly effective.

Mining payback time node

For digital currency investors, mining payback is an important indicator. In the case of Iro Fish's opening plunge of 62%, investors may need to consider a longer-term investment strategy. According to market analysts, it takes at least 7 years to wait for mining payback after holding Iro Fish. This time node is not mysterious, but is based on an in-depth analysis of market trends and project prospects. Investors need to look at the digital currency market rationally and make investment decisions that suit their own circumstances.

Market volatility and investment mentality

The volatility of the digital currency market is normal, and investors need to remain calm and rational. Iro Fish's opening plunge is just a microcosm of market changes. Investors need to be confident and not give up easily when facing similar situations. 7 years may be just an estimated value, and the actual situation may be different. Holding digital currency requires strong psychological quality and investment vision. Only when you maintain a stable mentality can you better grasp market opportunities.

Conclusion

On the investment road of the digital currency market, risks and opportunities coexist. The opening plunge of Iro Fish has brought people enlightenment. Investing in digital currency requires caution and patience. The 7-year mining payback may be just the beginning. The real investment gains may require more waiting and efforts. On the road of investment, persistence and faith are equally important. I hope that every investor can find their own opportunities and gains in the digital currency market.

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Coin Circle (120Btc.com) News: Iron Fish (IRON), an emerging Layer1 blockchain network based on proof of work (PoW), hopes to build a perfect privacy layer network, using zk-
SNARKs technology (zero-knowledge proof technology) and Sapling protocol to provide high-level privacy protection for each on-chain transaction, and officially launched the mainnet on April 21.

Iron Fish plummeted at the opening, and miners reportedly shut down collectively

It is understood that Iron Fish completed a $27.7 million Series A investment led by a16z and participated by Sequoia Capital (Sequoia) last year. Its strong VC investment background attracted miners to enter the market to dig gold.

According to its token economics, the total supply of IRON is capped at 256 million, and the initial supply is 42 million. All investors, teams and consultants have a 12-month lock-up period. In addition, some community members analyzed that if the amount of funds raised in the A round is calculated, the average price of each IRON is about US$4.5, and the over-the-counter trading price is about US$20, so it is speculated that the opening price of the token will not be lower than US$10.

However, after the exchanges KuCoin and Gate.io listed IRON spot trading pairs last night, to the disappointment of miners, IRON fell below US$10 shortly after opening, and fell below US$7 before the deadline, temporarily reporting US$6.55. Coingecko data showed a sharp drop of 61.92% in the past 24 hours.

The expectations of the entire community were dashed, and it began to be reported that many miners were unable to make ends meet and could not even make back their electricity bills, causing miners to choose to shut down and leave the market after only less than a week of mining.

Iron Fish miners are far from getting back their investment

According to Hashrate data, based on the current profit and electricity cost structure of NVIDIA's latest graphics card RTX 4070
Ti (assuming an electricity cost of $0.1 per kWh), the daily net income is only $0.31, and the payback period is 2610 days; in other words, if the current price of IRON is only around $7, miners will need up to 7 years to get back their investment.

But it is worth mentioning that although miners are far from getting back their investment, the current total computing power of Iron
Fish has not decreased but increased, from about 2PH/s when the main network was just launched, to a maximum of 9PH/s, and the current computing power is about 5.78PH/s before the deadline, and the increase is still 189%.

Therefore, perhaps not all miners have left the market as rumored by the community. Even if the profit is meager and there are other coins with higher returns, they are still willing to bet on the future development of the project and continue to lay out.