Let’s talk about ASIC mining

funny point of view.

if someone else finds a way - we can do it.

until that - shut up.

very progressive and inspiring.

i think you fellows are the part of the problem.

i think you do not understand what asics, as they are now, doing to zcash value.

we should have forked the day asics were announced.

naming people who did not lose their sanity just will not help.

better go back, to the moon.

they should’ve reinstated the “slow mining start”, and evaluated longer, but as-i-said - crying over spilt milk

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executing funny explanations and absurd resistance levels in to the moon thread more reffers to crying over the spilt milk, imo

i noticed you’re no longer defending your side of the argument. have a good one!

side note: @nec wasn’t trying to insult you with the “crying over spilt milk” statement. it’s a saying.

Here is the link to the full article but I wanted to post a few highlights concerning the 2019 XMR Fork. To me there is A LOT of great information here with the last paragraph giving you a pulse of their miners and market.

On March 9, Monero completed a routine hardfork with the primary aim to improve the protocol to be more ASIC-resistant. n April 2018, Monero performed its first anti-ASIC hardfork to stop the coin from being mined.

However, the fork’s effect proved to be short-lived.

In February 2019 ASIC-miners were responsible for 85 percent of all Monero coins mined, according to the nonce analysis performed by a researcher known as MoneroCrusher.

After That publication (see link “85 percent” above), Monero’s lead developer Riccardo Spagni promised to fork the network once every 90 days to resist ASICs domination.–(I went looking for any article or posting about this and I was not able to locate one(at this time))

According to the 2miners portal, the Monero network lost over 90 percent of its hash rate shortly after the hardfork. The parameters dropped to 96 Mh/s by Monday morning against 1.32 Gh/s registered on Saturday. However, other researchers provide different figures. Coinwarz service believes that the hash rate only dropped by 30 percent, while Bitinfocharts claims a 75 percent loss.

Apart from that, Monero developers mentioned that it might take more time to discover new blocks, but the situation should stabilize within the next 24-48 hours. Usually, it takes about two minutes to discover a new block on the Monero network, however, it is exceeding the five-minute mark.

Meanwhile, the XMR/USD reaction was rather muted as the coin continued consolidation with a downward moving bias. At the time of writing, XMR/USD is changing hands at $48.34. The price is moving within the rage of the previous days, mostly in sync with the broader market

Kudos to XMR. No ASICs, no problem. Price steady and moving up. No 51% attacks. Monero is going to be fine without ASICs.
Zcash should do the same thing.

Here’s the link:
https://beincrypto.com/monero-asic-rebels-have-won-the-battle-but-can-they-win-the-war/

That is the link to the main article I am quoting above, but no where can I find where Riccardo Spagni is quoted saying that statement

Did some research on the Monero XMR Asic. I would say it’s definatly an Asic designed for various cryptonite algos. After the XMR fork the hashrate is now on some other pure Asic cryptonite coins like Electroneum ETN. Huge increase of hashrate there these days.

I could bet it was a Baikal Asic that mined on Monero XMR …

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The “90 days” thing comes from ppl misinterpreting this tweet:

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In my opinion, we should embrace ASIC at the period of hash rate substantial growth instead of resist it or turns to POS. ASIC is an essential unit for a mature POW system. What we need to do is to maintain the stability of the algorithm and promote the development of ASIC, achieve decentralization slowly.

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How are you going to maintain the stability and work toward decentralization if about 75+% of the asic miners are concentrated (centralized) in china?

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Thoughts about the Monero Asic.

After the Monero Hard Fork i see a big increase on the natural asic friendly cryptonite coins like BTN, ETN for example. Means a good portion of the Monero hashrate went there.

But this does not seem to be all as i see other big increases of hashrate on various algos:

  • Cryptonite V7
  • Cryptonite Heavy
  • Cryptonite HeavyX
  • Equihash 210,9
  • Equihash 150,5
  • Equihash 144,5
  • X16s

I have a feeling that there excists a big hidden secret Asic or FPGA (farm) that is responsible for this. Seems the unit is designed to deal with higher memory requirements.

It wouldn’t have taken my attention without the monero fork. But with the successfull monero fork and a big increase on the above mentioned algos the simples explaination is that the the units that mined monero are now on these algos…

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Decentralization or centralization are decided by energy distribution instead of algorithm in the long term. As far as I know, the lowest electricity cost of Chinese miner is about $0.01 ~ 0.05 in the wet season of SiChuan province. In addition, they also need to bear the mine management fee about $0.02 and the cost to transport the machine to SiChuan. The machine loss rate is about 20% under transportation. So, their comprehensive costs are not always higher than the rest of the world. The decentralization will be realized by intense competition all the word if we don’t set up technical barriers for ASIC.

(Off topic, crow mining is coming, train them to find coins for peanuts! Im serious!)

What’s ASIC mining? In simple words, please

@Lorelai https://en.bitcoin.it/wiki/ASIC

A bit off topic but still interesting in my opinion.

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https://shop.bitmain.com/product/detail?pid=00020190315180422105r5GichQ40693

HOLY SH*T

135KSol/s @ 1400W
for 1242$

AND IT’S SOLD OUT

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Evolution of Equihash Asics:

Bitmain Z9 mini:
10 kSol/s at 300W

Bitmain: Z9:
42 ksol/s at 970W

Innosilicon A9:
50 ksol/s at 620W

Innosilicon A9+:
120 ksol/s at 1550W

Bitmain Z11:
135-142 ksol/s at 1418

good luck with ROI of all this hardware :joy::rofl:

Sidenote. That’s about more than 10x Z9 mini hashrate with the Z11. Seems it’s time the Z9 mini is forced out in medium to higher electricity regions… Seems our low mining community will be even lower in some weeks.