The community did vote and 64 of the most involved community members voted against ASIC resistance.
So the rest of the miners, investors, hodlers, they are not important ?
Only those 64 of what you say “most involved”. How do you measure involvement tho? What metrics did you use? If you call 64 people a community, then I have nothing else to say to you.
So the rest of the miners, investors, hodlers, they are not important ?
Some individuals claiming to be on the periphery might not have Zcash’s best interests in mind. Further, most of the GPU-only miners here haven’t been involved since the start. They joined Zcash to profit, which is fine, but that doesn’t make them more important than any other group here. The community governance panel will grow over time.
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I just want go back to this post where 64 votes is Zcash community and anti ASIC people are evil and were not allowed to vote …now you have glorious ASIC that is skyrocketing Zcash in to the moon.
Hehe Satoshi consesnsus dictates that community votes with Hashrate (longest chain rule), but when someone invents ASICS machines that renders previous hardware and Hash irrelevant, its like cheating.
“The proof-of-work also solves the problem of determining representation in majority decision
making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone
able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority
decision is represented by the longest chain, which has the greatest proof-of-work effort invested
in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow the
fastest and outpace any competing chains.”
Which means they’ve been using it and mining with it all along, without releasing it to the public, which would explain the difficulty skyrocket on Bitcoin. But when they see competition releasing theirs to the public, they realized its not going to be profitable anymore, so lets sell ours now.
#Ebang has just announced their next gen miners, the E11 series with 10nm chips up to efficiencies of 45J/TH. That’s for the entire miner at the wall, not the chip. Ebang has maxed out gains for the 10nm process node, and it far exceeds Bitmain’s 7nm stats.
Thinking process of a small minded person. Let me have a small cut please. Truth is, if they didnt sell to the public, majority would support an ASIC resistant fork making those machines paper weights. Even now, i type those stats in calculator, and profitability is shitty. This is before those machines going out to public and raising difficulty 3x more.
Stop thinking of the short term gains.
The 99.999999999999999999999999999999% of people that will be using cryptocurrencies arn’t even born yet.
You think bitcoin will stay @ 6000-7000$? You think zcash is staying @ 120-130$?
What seems to you as a loss today might be a fortune in just 5-10-15 years.
Either of you both could be correct, or even none of you both.
IF price goes drastically up at some time or over long time than yes, mining now will still pay of and make a great profit.
IF the price doesn’t go up as much as needed than for sure buying the currency would have been smarter.
IF the price goes even down for whatever reason over long term, than none of you both has predicted correctly as both are in the negatives…
Time will show who has predicted better, but to be honest, both of you have a valid point here in my opinion and it’s not fair to call either short term as there are 3 possible scenarios to happen and nobody really knows where things will go…
If I’d had the money for the machine and the eletricity cost of 5 years (~11-15k) in advanced I would certainly buy coins directly.
Supporting a small loss every month, for me, is more sustainable for my long term goals. The most important part of mining, for me, is time. Mining makes me sell coins the latest possible, If I’d be trading coins I wouldn’t be able to “make up a price” to sell and most probable I’d sell before touching the real highs.
Being part of the network. keeping up to date with HW and finding better solutions not only is a challenge but also makes me an active player in the cryptocurrency realm, I feel part of it.
Not exactly true. They (Zcash Co / Foundation ) vetted everyone on that panel. It was comprised of only people who had a very significant stake in the coin IE either held a lot of coin, or had the deepest pockets to invest into it. Nobody else mattered which is why you can have a community that wanted one thing, and the panel voted the exact opposite.
Just watch a video where there saying that Bitmain govern the batch 2 and 3 Z9 mini’s not to be able to be overclock past 11,000 sols! If true then what you have to say about your beloved Bitmain?? Or did you guy’s know this already??
It has been discussed allready on another topic and even work arounds are able to at least push it stable to 650 MHz (some even more) which means about 14-15 kh/s. For sure it sux for the batch 2 and 3 buyers, but than again, it was never promised or mentioned that any antminer should/is overclockable. But yes, sux of course, no doubt.
Actually the problems with the E3 ethash antminer are more serious as it’s just a piece of junk and the 3rd hashboard there is mass failing. No firmware can be updated/rewritten to fix it for whatever mistake in design leaving daily more and more E3 owners with 2 hashboards.
Not even talking about the total B3 fail where all buyers just got scammed by Bitmain.
And than the transparancy Z9 mini stop which disapointed me personally most as it would have been one of the view possible ways where Bitmain could have improved it’s bad image.
That accomplishes nothing, up to about post 2k its largely about alternative consensus and fork/nofork, which is the intended use
For some reason you all think everythings over
My suggestion is to spend whatever time you would use searching for those posts to find news and information about alternative consensus and then report back here
Reflection is a valid use of time on the topic. Looking back through all the posts ASICs were the cure for just about every woe, especially greedy GPU miners lol. Now that things are flipping over, it is almost comical to see some of the same folks freaking out over the difficulty rise we all knew would come with the introduction of ASIC. Did you think only “you” would be buying them? Did you think that there wouldn’t be entities buying them by the hundreds? It was said repeatedly before you can turn a profit there would be newer, faster, more efficient models popping up. You are now finding yourself in the very same position as the GPU miners found themselves. You will be pushed out in the same fashion, but it’s going to happen much much faster now. It’s a hash rate arms race now, and you do not have the war chest to compete with the “big boys”. Centralization will commence, and only the biggest will survive it.
