Can you show a calculation that the Z9 is not profitable for them on the equihash algo, if not than this is a just a bad and even poor statement that can not hold anything.
I agree. The z9 has been and continues to be very profitable.
On most coins also. Not just zcash
A good coin will not crash due Asics, only a shit coin will, with or without Asics, at least that is what i see.
Zcash is not one of these 0.01$ coins with 100.000.000.000.000 max supply. There won’t be a crash for sure.
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…that offer no improvement over Bitcoin I should add.
Shielded transactions are different?
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If you ramp up the amount of ASICs it would take to make $21,100 a day like the example you raised earlier, you would need 3.9Megawatts of power mining Bitcoin. With GPUs (14,277) it only takes 3.6Megawatts to make the same amount of money on a GPU network. The math says ASICs will not use less power to make the same amount of money.
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The difficulty will be 160 million by September. Good luck with the ASICs then.
Thanks for sharing, Shawn.
To be honest, that’s actually the first time I’ve ever heard Zooko’s voice or watched/listened to him speak. I’ve always READ articles and tweets and never watched video interviews, etc.
I will admit, I was a bit harsh with my words towards Zooko in the beginning of this ASIC-Resistance debate and I will work more towards TRYING to convince the developers and community how important it is we do NOT give Bitmain dominant control over the top 10 PoW coins.
I also believe ASIC-Restant PoW is an excellent means to enlarge “community” around a project and an excellent way to distribute coins among a more diverse number of people rather than a few or only one large corporation(s). My error may have been my “assumption” the developers knew this. It’s obvious the developers for ZEN know this and came out rather quickly to show support for ASIC-Resistance and its community. Sure, it may not be till some time between July and September before ZEN actually implements something or a few things to determine the extent of the impact ASIC’s have had on the network thus far; while also working on best solution possible to make ASIC-Resistance more resiliant.
I believe what has the “majority” of the ZEC Community so stirred up at the moment is the delay of any definitive decision and public statement as to the direction the developers will take us in the future in regards to ASIC-Resistance. We, as a community, have supported the project and the developers getting their 20% cut for their hard work and efforts because they deserve it in my opinion. But that’s a subject for another day. I simply desire ZCashCo to return the same support for the “majority” of the community who has supported them.
As to Zooko’s “theories” in that video regarding mining ultimately becoming centralized; I disagree. He would see what I mean and understand WHY I disagree about a year or two from now if we were to maintain ASIC-Resistance.
From this day forward, I pledge to remain calm and avoid allowing emotions from my personal investment into the project to dictate how I “communicate” with the rest of the community.
Have a good day, ZECONNIANS.
Happy Hashing!
David
What “CryptoMined” pointed out in his video is PROG POW “appears” to be an EXCELLENT solution for ASIC-Resistance. At least for the next few years; possibly longer.
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If anything, PROG PoW “should” give ZCash developers “ideas” towards the best possibly solution for ASIC-Resistance.
Shawn,
Have you or any other Moderator banned CryptoMined from this forum?
If so, PLEASE EXPLAIN WHY?
great and funny discussion: Genesis Exchange, Ethereum Cash and zooko drunk professor lol
This is very funny IMHO, cryptomined has help hundreds of miners all over the world, offers a great service and has always been openminded and respectful. I don’t get it…
Agreed…
I’ve been subscribed to CryptoMined YouTube Channel since he was around 1,000 followers. Now he’s up to 23,000 followers. He’s a hidden treasure in regards to GPU mining knowledge. Great help and ambassador for the GPU mining community.
I always believe he has been open minded and respectful as well.
I personally request Shawn to RESTORE CryptoMined’s Account. He does NOT deserve to be banned for pointing out Shawn edited past posts, etc… He has NOT been disrespectful in pointing that out. He has not been disrespectful in voicing any of his opinion.
Shawn, if he has been disrespectful in past posts to deserve being banned from our community, point me to those posts please sir.
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Thank you for posting this - that was a great read! A lot of good info in there, and from what I can tell, if secret ASICs were out for Equihash, they came into play last June.
Have you personally seen any posts “cryptomined” has posted that violated community guidelines?
I haven’t…
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sorry for off topic, but banning cryptomined for 6 months seems veeeeery unfair.
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TOTALLY AGREE!!! That was WAY TO HARSH.
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