Either way whatever it is for KYC the IPO means to me something is wrong that they need outside money and I never liked them and their market saturation idea nor the manipulation of currency to effect their own end goal. That is why we got away from banks in the crypto world.
So why would I support the bitmain enemy? Oh because with a coupon I can save a $100 on the upfront price when over 4 months I would have save more than that on power just a complete no brainer than people have not sat done and done the math. For about $100 more I would gladly aid to help another maker gain a foothold which will help spread the cash like we try to spread the hash but also create competition.
Actually, 1000s of PoW+MN shitcoins with bigger share for MN show that it has no advantages. A lot of staking fans come, buy a lot of coins for staking looking on possible ROI and price rises, clever stackers sell first after price rise, silly stackers believe that it’s natural and continue staking till price drops because of critical number of clever stakers, late adobters don’t even get their BTC back, early adobters get some profit but only if they left early enough. If coin is less shity the cycle becomes longer. Every big stacking reward is ponzi scheme, every low stacking profit is less than natural volatility risk. If you believe in coin it’s OK just to stake it without PoS or MN.
Hi, I have meanwhile startet an own project called Transcendence (currency is telos coin). Whatever… We will introduce a complementary coin called Zcash yep… we will lust use existing zcash as it is. Details will follow in the coming whitepaper revision. At MikeZhukov, I don’t share your thoughts about being Ponzi. First of all they could create an hard cap. But even if the don’t add a hard cap, there could be coin burning involved to reduce the newly created rewards at the same time when they are created using transaction fees.
Cmon, I haven’t said about whole emission. Some shitcoins can have such a pump&dump during few months or weeks. They have smth like 10% of generated coins going to PoW 90% to MN or so. The problem that having limited supply at start low masternode number causes big profits which start this scheme: people see the possible interest and buy masternodes till getting critical number that makes profit insufficient for such a risk and than: earlier seller gets profit, late seller loses money. That’s why I’ve called it Ponzi. And coins like Dash can’t cover volatility risks by possible profit even though they are not Ponzi and in such coins you don’t lose a lot if you are not stacking with interest(MN or PoS).
Yes, yes they are. The question is “are they doing this with Zcash right now?” Even if Bitmain said no, would anyone truly believe them at this point? If they said yes and gave a size of the operation I think the same would be true. So all you can do is speculate because they haven’t come forward, and even if they did anything they stated would be suspect as they were caught once again misleading the public about blocks they won (they didn’t) and the amount of hash they had (was proven inaccurate by a large degree). So the only credible answer they could give now would have to come from a independent audit of their facilities, which I serious doubt would ever happen.
Interesting approach, but maybe a dangerous one too.
With 7GB memory need it favours in my opinion only high end gpu’s. It must be a really profitable project or there will be eventually a low hashrate network problem in my opinion. 2 algos mostly will lower the profitablity for miners more than one.
Still, will be interesting to follow how it works out…
By favoring high-memory GPUs, Grin will capture a larger share of hashing power that is Grin-capable. Which makes the network more, not less, secure. Absolute hashrate is not relevant in that regard.
2 algos mostly will lower the profitablity
It simply means that profitability is shared between GPUs and ASICs. If you’re claiming that for A+B = constant C, both A and B (assumed nonzero) < C, then … duh!
about 1.) How do you know you can capture the high end gpu’s for the Grin network? To do so it must be more profitable for the 1080ti’s than eth with the enlargement pill boost. Not an too easy task in my opinion. I personally would asume it’s reverse that it’s easier to capture older gpu cards that are not profitable vs. high end cards and the algo the projects are on, but i could be wrong. IF the GRIN isn’t really profitable for high end gpu’s i expect that it will have low hashrate, just my logic…
about 2.) that wasn’t my point actually but i didn’t wrote it correctly either. The thought was that on 2 algos is the 2x the chance that it isn’t as much profitable as with 1 only, but i could be indeed wrong here.
However, my post wasn’t negative, but just sharing a first view thought, especially about the idea with high end cards that eventually won’t turned out as wished, but as i wrote allready, interesting approach and i will follow it with interest how it will work…
I cannot “capture the high end gpu’s for Grin”, because daily issuance of Grin (in dollars) will be a tiny fraction of that of ETH, but Grin will be very interesting for a corresponding fraction of them since they won’t be competing against cards with only moderate memory.
The Xilinx FPGA are expensive, but they are highly efficient at mining memory intensive algos. ASIC-resistant coins will be save from the ASIC invasion.
This will be interesting to watch. It could just raise the price by that amount since new issuance will be harder to get. On the short term it could decrease hashrate marginally as there are still GPU miners on ETH.
Of course the people that wait it out and don’t sell the GPU’s too early will make more and some miners will move to other coins. Overall profit may drop a little though unfortunately. After ethereum becomes less profitable I will have to move to Nicehash or MPH I suppose.
I think this is exactly the problem that will bring all over gpu POW mining to an end. If miners are forced to switch and move to other coins, these get the same problem, lower rewards and profit. I mean the ETH network is just hugeeeee. In my opinion these ETH movement from 3 to 2 ETH reward will bring down gpu mining to the knees. Maybe not right now with an eventually rising price, but very soon as soon as prices are going down again i could bet that all over this was it with gpu mining.
Not that it’s different with asic POW mining where just new and newer and more and more units are sold. I think we are watching the beginning of the end with POW private mining right now… Just my opinion.
I see the price down at this moment, before minimum price is around 170USD, could be because of sentiment about ASIC mining. I think this is because lots of member of the community leaving. If Zcash become ASIC coin, then you will fight with the other ASIC coin, which only few coin survive as I recall.
ZCash begin with good will to fight ASIC, that’s why ZCash have strong and solid community which is supporting and very helpfull for the growth of ZCash. Yes the community was small, but I see they are solid and strong community!
They feel abandoned by the devs, not remembering their hardwork, not just to bring speed to the network, help to build from ground up, but also let people know about ZCash, how good is ZCash etc, etc. So, it will be very interesting how far ZCash will go without strong, solid and helpfull community.
ASIC community just care about profit, maybe like the devs wanted to. Welcome ASIC ! Let see how far this ASIC coin will go!
yep… we will lust use existing zcash as it is. Details will follow in the coming whitepaper revision. At MikeZhukov, I don’t share your thoughts about being Ponzi. First of all they could create an hard cap. But even if the don’t add a hard cap, there could be coin burning involved to reduce the newly created rewards at the same time when they are created using transaction fees.