Let’s talk about ASIC mining

https://bitinfocharts.com/monero/
Hashrate 472.391 Mhash/s -46.97% in 24 hours
asic resistant , xmr team keep their promise ,they are not liar

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What are you looking at? I posted a SS of their network Hashrate… The minimal drop is more than likely due to not updating to the newest version

Either two things happened, either there were no ASIC’s there or it failed

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Seems the graphs are lagging or not updating yet. IF the bitinfocharts reported hashrate of 412 MH/s right now is correct than i would say it’s an successfull anti-asic fork.

From bitinchocharts
412.788 Mhash/s -54.01% in 24 hours

yeah it looks like the one above (the one I posted) is delayed for some reason

here is a sight reporting 80% drop

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:thinking: interesting to see. I’m actually kinda of surprised that it’s 80%, I had read that there were hidden ASICs for Monero but didn’t realize it was such a high percentage of the network.

The next question will be: were they true ASICs or were they FPGA style? If FPGA style (programmable like Blackminers) it might not be long until they build a new bitstream and creep back onto the network.

yes, this may happen.
but it is called resistance.
something this project has lost.

why do devs keep on with asics?
it was obvious for team earlier that they are a disaster.
what have changed?
why noone doing nothing, while zcash value being destroyed?

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Im sorry but I do not fully believe ASICs are the only reasons for Zecs value being where it is today… There are some other factors playing into it.

15 posts were merged into an existing topic: Zcashs Proof of Work: does it affect Market Value?

like what?
just take an educated guess.

i can see beautiful background, technical, powerful, successful…

this centralisation in few hands, leads to very many problems, but the main is that you do not have a clue about the intensions of miners, who make zcash right now.
they are in control.
and you are completely out of touch.

@nec you are talking to me and @Hannibal at the moment. Neither of us work for Electric Coin Company and we have no power over the POW. So don’t address the issue to us, we can’t do anything about it.

uhh, sorry, i was referring to you as a part of foundation.
guess you are only the moderator.
sorry.

I understand your frustrations. Even the Zcash Foundation has no power to change the POW. Perhaps in the future when there is another implementation of the core zcashd software the Community could choose to use it over the current version. But for now ECC holds all the cards.

Josh mentioned this topic (Zcashd not ASICs) in his recent talk a the MIT Bitcoin expo; it’s worth watching: Josh Cincinnatis talk at MIT

not even the foundation in control?

who is?

is this person aware of the post-asic situation on the market?

The Zcash Company (now known as Electric Coin Company) has been the developers of the core software zcashd since Zcash started.

If you watch that video, Josh speaks about how the Foundation is working with the Company to share power, but as it stands right now ECC still calls the shots on what goes into thier software releases.

Monero has put a lot of energy into attempted ASIC resistance with little success thus far. It’s actually a large benefit for us that they are going through this experiment so we don’t have to… but let’s be clear, what they are doing is pretty dangerous for Monero.

The ASICs being developed for Monero are unlikely be disclosed or sold to the public. They could be created by a single manufacturer that ends up having 80% hashrate and could potentially 51% attack Monero, or worse. It seems highly unlikely that this race will end with actual ASIC resistance given the economics of mining and a highly adaptable miner manufacturing environment.

GPU miners ignore this danger because they mine and sell for profit, as can be expected. The more coins mineable by GPUs, the more potential value their farm will have. It’s only natural for them to post pro-GPU mining quasi-arguments, ignoring the real danger of what they are advocating for.

In retrospect, my posts over the past few months in this thread could be characterized as a pro-ASIC, but I’m actually not necessarily pro-ASIC (I have a few but not many) or anti-GPU (I own a medium-sized GPU setup). I’m pro-security first and pro-fairness second - as much fairness as is possible.

If ASIC resistance is actually proven to be possible we should seriously consider it. That said, it won’t necessarily be as fair as we think. Consider that there are massive GPU farms capable of overwhelming networks. Throughout this bear market large entities have been buying GPUs from smaller farm liquidations. Bear markets centralize hashrate for all coins, but especially GPUs where more value can be recouped.

Overall, my current sentiment is that PoW should be phased out entirely for something more fair without compromising security.

Much risk, Monero takes.
-Yoda

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Well nobody could come up with a better system yet… sure they’re trying, but PoS has it’s own issues.
PoW with GPU mining is fair enough and security can be improved, easier to solve than PoS problems.

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Seems XMR doing very good at scheduling ASIC-resistance roadmap…

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Monero team fork xmr is not for xmr price.
They fork away from ASIC to keep xmr decentralization、privacy and security.
They do what they promise in xmr white paper to show they are trustable,just like their product is trustable too.
No liar in Monero team , so they don’t have to scam GPU miner they will make ASIC resistant in whte paper.

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And by large I mean large, 100 GPU in the Zcash filed wasn’t even a big farm, just a large hobby farm.
I refering to the 1000 plus farms, and there were several.