Let’s talk about ASIC mining

#5656
#5657

For those reading this article, keep in mind that David Vorick is the creator of Siacoin and owns/runs the associated Obelisk company, which manufactures ASICs. The Sia development team hard forked on October 31st, 2018 to brick every other ASIC - at the time 99% of other miners - except for the one they sell. This article presents him vaguely as an Ethereum developer.

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#5658

In conversation with CoinDesk, Spraul also said that pending its implementation into ethereum, the company will research the feasibility of building specialized ASIC hardware for ProgPoW.

“I can publicly confirm today that we intend to study the feasibility, and then build, ProgPoW ASICs,” Spraul said.

Because ProgPoW changes ethereum’s underlying mining algorithm, Ethash, to be more memory-heavy, the code switch is said to make GPU hardware competitive with ASICs.

Proponents of ProgPoW say that if hardware designers try to build ProgPoW ASICs – which is to say a specialized chip with the sole function of computing ProgPoW – it would just end up resembling GPU hardware.

Still, Spraul denied this, stating that “Hardware innovation is non-linear,” and “We can accelerate ProgPoW by a factor of 3x to 8x.”

For comparison, Equihash’s current ASICs are ~11x more efficient (at lower cost).

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#5659

I think it’s a threat so they don’t add ProgPOW. I’ll believe it when I see it. The hardware would be more expensive and the difference would be minimal IMHO.

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#5660

Maybe? It’s hard to know. It would be a bold bluff to call given how much capital these miner manufacturers have.

#5661

This is not entirely true. After using ASIC mining began an exponential growth of network hashrate , and as a result increase of mined coins. For example with the ASIC’s arrival from June to December 2018, the hashrate increased 5 times in 6 months. When using GPU mining in 6 months hashrate increased 2 times. Also, ASIC contributes to the fact that few people can hold a lot of coins and speculate in price.

[Opinion] Zcash is the worse cryptocurrency from top 100 capitalization
#5662

No, the difficulty adjusts to keep an approximate constant blocktime (currently 150 seconds).

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#5663

The network will generate one block each 150 seconds regardless if there’s a single Nintendo 64 mining or millions of ASICs

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#5664

Inflation is the same but ASIC miners mine for profit or chase ROI and 99.99% will dump coins immediately…i was GPU miner and did not sell coins until i saw that is ASIC love coin and i know many other who did the same.
Also Zcash is now totally centralised coin…4 biggest pools are now in China

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#5665

Guess I am the 0.01% because I have every single coin I have mined with ASIC (todate) where I have sold 99.99% of every single coin I mined with GPU

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#5666

ohhh man, we start here again the same thing?

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#5667

Think of this thread as a linguistic fractal meditating on the tragic beauty of human nature

#5668

all asic miners here?
your high tone in this topic always makes me laugh :joy::joy: winners4life

#5669

I am so small ASIC miner you would not even feel it if I would punch you with my ASIC power. The only thing that I want is to become rich :joy:

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#5670

ZEC team should remember their promise to keep ZEC as ASIC-friendly coin until ASIC miner ROI.

#5671

Zcash, should just say goodbye to all of us and take the money with them…imagine, you can

#5672

What is the current status of Zcash now moving to ASIC resistance??? the time lock thing is totally fraudulent, how long will @zooko maintain his intransigence, Zcash is dying…wake-up. Look at “ProgPow” which I recommend early 2018 (or something very similar) when all this was starting…look where the network is now, wake-up…before it is too late.

Also Ethereum now moving to “ProgPow” hopefully soon but I see the ASIC sharks are circling expect volume to go up tremendously coming months.

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#5673

Article from June i somehow missed. Interesting part is the quote that shows the current problems and lose of decentralization and privacy:

PoW Weaknesses

Satoshi Nakamoto predicted that PoW’s competitive reward mechanism would lead to the arrival of application-specific integrated circuits (ASICs) to mining but didn’t consider that economies of scale would favour [geographical and political centralisation](http://hackingdistributed.com/2018/01/15/decentralization-bitcoin-ethereum/), resulting in a handful of wealthy investors collecting the majority of the 656250 BTC issued in 2017, worth north of 4B Euros today.

This loss of decentralisation compromises user’s operational security because solo-mining as a “one-way anonymous decentralised exchange” (V.Buterin) is out of reach for most of us, so we must buy our BTC from an established market maker such as an exchange or reseller on localbitcoin.com, leaving a permanent trace back to our real identities.

#5674

Just some neutral comments:

  • does it matter if it’s ProgPow or Equihash 150,5?
  • Just checked out the profitability for ETH and gpu’s in generally on whattomine. There are by now 3 coins profitable right now at an average electricity cost of 13 cents, being ETH the 3rd of them with just 1 cent profit and 59 cents for electricity. That’s just some days bevor the constantinople upgrade.
#5675

It matters a great deal that is why the media and unknown ethereum developer campaign push back as begun, but it appears the consensus of ethereum developers get it. Once the PoW is changed expect it to be wildly more successful then monero PoW tweaks made by the Monero team which don’t understand hardware unlike the “ifdefelse” team; network hash rate wiil cut more than half as a ratio but will be more widely dispersed among individual miners which will now earn roughly twice the ether or more for same hardware and you can have natural healthy growth of network hash rate like 5-6% per year and not the exponential growth ASIC bring.

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