Let’s talk about ASIC mining

[dzonikg]

Guy here from Serbia update his srbminer for monero in few hours to mine cryptonightv7 so its not rocket science…people who run botnes would do the same.
You would need 100 botnets just for one GPU and with all defenders in Windows ,anti virus programs botnets are actually not relevant at all…maybe if you have windows Xp from 2001 running on latest I7 CPU.
Graph showed that it was run by ASIC for long time more then 50% off network and Bitman ASIC was 10 times more powerful then Baikal and BItmain is much bigger company so you do the math who was running ASIC all the time.

[Kahooli]

300Watts.
1 W 3.41214163 BTU/hr

1023.642 BTU/hr

[boxalex]

@Mirtishius

I guess we don’t, but by employing a common logic and math one can make a valid conclusion that mining brings a constant revenue in a long term, and selling HW is healthy for cash flow in a short term + compensates the risks of mining. Combining those two is a win for a big company as Bitmain is.

Actually it’s reverse. Mining brings short term revenue (as nobody knows what tomorrow will be with a given coin or if it’s mineable or whtever) and HW selling is long term.

[boxalex]

@dzonikg

@root

Bitmain has stated that they didn’t pre-mine the Monero miners and haven’t pre-mined Zcash miners. The Monero difficulty changes could easily have been caused by botnets or another secret ASIC from another company.

How yes no…Bitmain start selling its monero X3 ASIC just days after Monero sad they will fork…before that they did not even sad they have any ASIC for monero…you dont make ASIC in 3 days.

If it was botnes they would update their code for this 2 months .
It was ASIC for long time in silence…and only Bitmain can make that much.

Than where have all the Baikals and Innosilicons been that have been announced and mined bevor Bitmain?
You understand that Bitmain was the latest on this algo to jump on??

[boxalex]

@dzonikg

Also after todays fork off ETN X3 dropped 2 just 5-6$ a day (it costed 3800$ +shipping + taxes last month)

Now so call Monero original or Bitmain scam off Monero has 3 times hash rate then Monero even it has only 6 BTC daily volume compare to Monero 2200 BTC.

Now coins that are left with cruptonight with ASIC will race 2 the bottom because they are low volume coins end people who run ASIC will sell every day to try to at least back some part off money they spend.

Next totally wrong comment, lol.

Only the guys that switched from ETN to BCN make USD$ 6 right now, the smart ones found some that still make USD 20+ per X3 …

And hey, seems it’s even good for these small coins there. From a daily volume of <100$ they have now some 1.000’s of volume

[boxalex]

@dzonikg

You would need 100 botnets just for one GPU and with all defenders in Windows ,anti virus programs botnets are actually not relevant at all…maybe if you have windows Xp from 2001 running on latest I7 CPU.
Graph showed that it was run by ASIC for long time more then 50% off network and Bitman ASIC was 10 times more powerful then Baikal and BItmain is much bigger company so you do the math who was running ASIC all the time.

Here an interesting read for everybody interested how big the monero bot net is:

https://www.itspmagazine.com/from-the-newsroom/top-3-crypto-mining-botnets-smominru-ddg-and-adbminer

I guess you still will continue to say that these mega bot nets with millions of infected devices don’t matter, right?

[dzonikg]

@boxalex

You understand that Bitmain was the latest on this algo to jump on??

Bitmain was latest because they mined in secret…only when monero sad they will fork in 3 days BItmain released X3 .
All in all Monero Fork was successful even with just few numbers in algo changed.
All cryptonight coins on whattomine dropped 3-4 times in profit after ETN fork…great for you if you know some that no one is heard off.

[boxalex]

@dzonikg

All cryptonight coins on whattomine dropped 3-4 times in profit after ETN fork…great for you if you know some that no one is heard off.

Lol, on whattomine you see only 3 or 4 coins of the aboout 20 coins that are still available on cryptonite for Asic mining and there are about some other 30 that are now on the heavy, V7, V1, Light.

Just as an advice, never go only after Whattomine, it’s just some basic information for some popular coins, nothing else! The advice is free

[dzonikg]

Ok then list coins that are on cryptonight and are not on whattomine

[boxalex]

@dzonikg

@boxalex

You understand that Bitmain was the latest on this algo to jump on??

Bitmain was latest because they mined in secret…only when monero sad they will fork in 3 days BItmain released X3 .

So Baikal and Innosillicon mined in public?
And because Baikal has only a handfull units they sold them for some weeks on a bargain (pay 1 get 5) and have at least 3 different version for cryptnite available. But hey, they “tested” only with 1 unit so your Bitmain-evil argument can hold.

[boxalex]

@dzonikg

Ok then list coins that are on cryptonight and are not on whattomine

You don’t believe me? Do some research dude. I don’t want to have other people going to mine where i mine with my X3’s in this situation. But i will tell you some of the coins that are on the other cryptonite algos you for sure never heared about:

Stellite
Graft
IntenseCoin
Masari
Haven Protocol
Loki
Saronite
MoneroV
Sumokoin
Solacecoin
SARONITE
Ombre
Iridium
Triton
Wonero
Arto
Bitube
Turtlecoin
Niobio (forked some hours ago)
and many others

If you need more coins and these that are still availablefor Asic mining, just do some research and you will see that there are over 40 coins on the different cryptonite algos… Everybody that won’t/can’t do research has just to mine on these 5-6$ coin, agreed.

[amanalar]

If someone needs to ask what coins to mine, they shouldn’t know imo.

I could have used 1 or 2 more months mining RVN before everyone jumped on.

The moment I saw RVN on WTM was a sad day.

My discord trading nets me more than what WTM has…

[dzonikg]

But you are still left with some coins who no one heard off with no volume and on echanges that are also no one heard off

[boxalex]

@dzonikg

But you are still left with some coins who no one heard off with no volume and on echanges that are also no one heard off

That’s your assumption.

There are 2 possibilities here:
a.) It is like you say and i’am a total dumb idiot that mines coins for nothing …
b.) I know it a bit better than 75% that mine due whattomine and make more profit than them …

amanalar seems to have a similar approach doing his own researches (see post above yours).

Look, i’am only explaining this because i still have some hope that you realize that not everything is black and white, that whattomine is actually not worth much (expect for the top coins that get mass hashrate due it) and you NEVER should base comments on whattomine, that not every rumour is true, and and and …

[root]

Yep! I forgot that I could calculate this from the wattage. Just keeping you on your toes

[Mirtishius]

@boxalex

Actually it’s reverse. Mining brings short term revenue (as nobody knows what tomorrow will be with a given coin or if it’s mineable or whtever) and HW selling is long term.

It all depends on context.

A. If we are Bitmain and we are entering a market of ASICS HW / Mining for the coin which has never declared it will strive for ASIC resistance, its the way I put it (it all started exactly this way and been this way untill recently, as far as we know).

B. If we are Bitmain and we are entering the market of HW/Mining for coins which has declared to strive for ASICs resistance, we are stupid unless:

1. We do a stealth pre-mining with prototypes which passed the feasability tests, to secure the most or even all of our R&D investments
2. After reaching break-even or being somewhat close to it we cash out on our 1st gen prototypes declaring to the market “we’ve done impossible” and whatch the reaction
3. At this point we have mitigated all the risks, whatever future brings to us.

C. Reserverd for conspiracy theories.

[Tonic1080]

@Mirtishius

@boxalex

Actually it’s reverse. Mining brings short term revenue (as nobody knows what tomorrow will be with a given coin or if it’s mineable or whtever) and HW selling is long term.

It all depends on context.

A. If we are Bitmain and we are entering a market of ASICS HW / Mining for the coin which has never declared it will strive for ASIC resistance, its the way I put it (it all started exactly this way and been this way untill recently, as far as we know).

B. If we are Bitmain and we are entering the market of HW/Mining for coins which has declared to strive for ASICs resistance, we are stupid unless:

1. We do a stealth pre-mining with prototypes which passed the feasability tests, to secure the most or even all of our R&D investments
2. After reaching break-even or being somewhat close to it we cash out on our 1st gen prototypes declaring to the market “we’ve done impossible” and whatch the reaction
3. At this point we have mitigated all the risks, whatever future brings to us.

C. Reserverd for conspiracy theories.

Having personally worked in system manufacturing and product design myself, I can say this is exactly how it works.
Some of Bitmain’s recent statements to Zooko were completely contradictory to common place smart business tactics, which makes me doubt other parts of their statement that wasn’t already public record.

Bitmain has done an excellent job at doing what they do (whether I like it or not)…it would be strange, to say the least, that they “mess this one up”.

[Mirtishius]

I love how Bitmain does things in this volatile market, too. But he is not a fluffy Teddy Bear. Hes a f**ng grizzly, and am sad there are quite intelligent people here who do not realize the consequences of adoring this predator.

[boxalex]

@Mirtishius

I love how Bitmain does things in this volatile market, too. But he is not a fluffy Teddy Bear. Hes a f**ng grizzly, and am sad there are quite intelligent people here who do not realize the consequences of adoring this predator.

Just totally out of topic.

If you replace the following in your comment “Bitmain” with “Trump” and Market with “World” it makes perfect sense too.

Hope it’s ok to have here and there are little joke/kidding…

I love how Trump does things in this volatile world, too. But he is not a fluffy Teddy Bear. Hes a f**ng grizzly, and am sad there are quite intelligent people here who do not realize the consequences of adoring this predator.

[Mirtishius]

I don’t get your joke. Sorry.

Edit. All right, now I get it.