YOU are just talking nonsense…
Bitmain S9 which is most efficient BTC ASIC makes just 2-3$ a day a need 1600W PSU and is SO LOUD.
And that is on 160 billion coin.
My ASUS Strix 1080Ti makes 3 on RavenCoin on 240W which is just 50 million $ coin
And is dead silent.
If GPYs would mine BItcoin and not ASIC you would make 20 times more money per watt then on ASIC…fees would be way way lower and it would be usable coin…Bitcoin is not usable at all …just for pump and dump
ASIC are worster for electricity then GPYs
And BItmain is scam off the scams…they even created monero original coin just so they could continue mine after Monero fork even their contribution to monero development was ZERO …they just copied all …and they released their A3 cryptonight miner just 15 days before the fork…they mined who knows how much time in silence
It would not be a horse race if you allowed nascar to join in the race, it would NOT be GPU 1 HP, vs ASIC 13 HP…it would be more like ASICs 10-1k HP. How is that even fair when everyone else is running at most 1 HP that we agreed apon(ASIC Resistance). Sure some people might have alot of horses in the race, but they are all nearly the same at 1 HP, giving everyone that is currently racing a fair chance.
ASICs mining on a ASIC network would make maybe $7 a day at 14TH/s on Bitcoin.
Now lets see what 14,277 1080TIs mining on a GPU network(Zcash) would make. At only 7.8 million hashes, and 3.6Megawatts. You would make $21,100 a day including the power cost of 9k… That is the difference. Once everyone starts mining with 14TH/s on the network, it will just make $7 a day or less within months like all the other ASIC coins.
You cant compare GPUs hashrate against the ASIC rates. It will not give you the numbers you are looking for when you buy it and plug it in. Look at other ASIC coins, MORE hashes does NOT equal more profits. Its all RELATIVE to the network, and ASIC raise the difficulty of the network alot more compared to GPUs.
I’m glad Zooko mentions economies of scale because this is a major reason why GPU mining is more decentralized than ASIC mining.
GPU mining doesn’t benefit significantly from economies of scale. A hobbyist miner often has a lower average cost than a professional miner. The reason is that they can host their GPU rigs in their house. This means that their only cost to get started is the cost of their hardware – they don’t need to pay for storage, internet, or insurance because they already have those. Furthermore, the cost they pay for GPUs is very similar to what a large operation pays for GPUs. The end result is that small GPU mining operations are often more profitable than large ones.
With ASIC mining, anyone who wants to enter the game needs to rent a warehouse, with associated internet and insurance costs. This dramatically increases the fixed costs relative to the variable costs for smaller operations. Second, small operations have to pay full retail prices for ASICs, whereas people who manufacture ASICs or who have connections to the manufacturers can get them at far less than the retail price. One estimate suggests that Halong’s Decred ASIC manufacturing costs are only 1/10th of the retail price. You can quickly realize that it’s impossible for a small, non-insider operation to compete in Decred mining. The same is likely for true for all ASIC-mineable coins.
Lol, watching that stream , and Im not trying to be mean, but I think Zooko is a stoner, She asks a question and he starts talking about something and stops and asks…“what was the question again”. Did that a couple times haha. I dont think he is a drunk college professor…
Your statement was ASIC’s do not save power, I just proved to you that they do, but you seemed to have missed that with some type of forget what I just said let’s talk about this.
When it comes to power usage, I can and will all day long use the numbers they give me to say, in this case ASIC’s use less power. Z9 mini = 300w for 10k H/s - thirteen overclocked 1080ti’s = 10k H/s at 3,250w
True facts:
300w is less than 3,250w
The sun rises in the east
the earth is round
0011 = 3
and there is no place like 127.0.0.1
Yes, but the fact is people will buy Z9’s as long as they are profitable to run them subtracting out electricity cost and the cost of the miner. So the hashrate will go up and more people will buy them until they are making less money than with a GPU rig since they are cheaper. I would like to see the final numbers, but I imagine the final profit will be about the same ratio. Today you would make $40 per day mining ZEC with 10k sol/s and paid roughly $15,000 to do so depending on the card and availability and motherboard, CPU, RAM, riser costs etc… When the Z9’s have reached mass adoption and equilibrium with the price that 10k sol/s will likely be close to $5 per day. If a miner wants his $40 per day back then the miner must buy 8 of them which puts him back to roughly $15,000. The power is now 2400 watts instead of the roughly 3500 watts to get 10k from GPU’s. It will save a little energy unless miners are now fine with less than $5 because the electricity is cheaper. In the long run it is not all that much. It might take a few batches to get to that final number though.
I suggest you watch the video of Zooko’s latest interview he did today at conesesus 2018.
We can debate this all day. Till our eyes bleed.
Sure seems like nothing is being done until Sapling.
And if the foundation and development team wanted to stay asic resistant…well z cash is a fork friendly coin.
Looks like we may get two chains and all be happy.
This is not true for ALL asics by the way. There are asics around that mine several algorithms, and most of them even pretty strong:
Just as an example: Baikal BK-X: Myriad-Groestl, Skein, X11-Ghost, X11, Quark, Qubit, Nist5 with 2 more algos coming on next update, makes together 9 Algos.
or the PandaMiner B3 Pro: Ethash, Equihash, Cryptonite.
Pretty sure that only Bitmain will stay with 1 Algo Asics and all others will move to multi-algo to fill that niche and to have a chance on the market. Just my prediction and just to correct your statement.
@Fireballseven This could also be due to Zcash being more profitable to mine now that the price has increased. Miners that switch coins based on profitability are probably mining zec again.
This means they expect the difficulty to increase by about 33% during the two months following the initial shipment.
This is very bad news for anyone mining Zcash now. Typically, with GPU mineable coins, the network hashrate/difficulty increases only when the price increases, which keeps profitability rather steady. With ASIC coins, however, difficulty increases inexorably, which sends rapidly profits to zero. Dash is a good example of this.
When Bitmain sells tens of thousands of these ASICs, they make it impossible for their customers to get a return. At the same time, they make billions in profits because these ASICs cost them very little to make relative to the retail price. They also mine on their efficient next generation ASICs while their customers are using their 1200W old gen ASICs that are making two dollars a day after power.
Can anyone explain how this is a good thing for Zcash?
Its not, but ZcashCo don’t seem to be worried, only reason Bitmain is selling ASIC’s now is they are no longer profitable for them and they have newer ones privately, It appears Zooko is thick, go look at what as happened to all the coins that have ASIC take over, Zcash will be no different as crypto coins are not yet well established with only ‘Bitcoin’ and ‘Ethereum’ gaining some foothold (first mover advantage ‘Bitcoin’ and better platform for ‘Ethereum’ which as a true ASIC resistant POW unlike falsely advertised Zcash Equihash POW which as had ASIC’s since July last year). Others coins have not yet passed the survival threshold and the ZcashCo is betting on their technology getting them through, though their Zcash Equihash POW has failed ASIC resistant miserably; what other faulty assumptions do they have?
If you like yourself sell you Zcash during this fake pump, because over the following months it will crash horribly as the difficulty increases by a factor of x10; I can’t believe these guy are just stringing people along, it is terrible.
I stopped mining it. I do believe that zec will crash that’s why I started sell off my zec.I do have a lot too. Been exchanging it for other better coins. They ruin this coin!
You guys are crazy. Again GPU MINERS, all upset because you will not be as profitable of have to find a new coin
SERIOUSLY, the best things happens for Zcash yesterday. HUGE.
They got accepted to Gemini, who is regulated by NEW YORK, USA.
This now means zcash has the potential to make coinbase.
And most of the top 20 Minable coins are ASICS.
This to me says if z cash accepts ASICS, and integrates them, ZEC will be a top 10 coin within months. I believe
