I know your feelings, I used to ‘believe’ but now not anymore. Zcash team is good at programming… but maybe not good at strengthening the community and “too scared to be failed” unlike Monero.
I already sold my last ZEC for ETH. and a trader now.
The reason I sometimes came here is to see how will be my ‘ex-coin’ go on in future…
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Looking at how we went from a pool(thousands of people) haveing around 50% of the hash to a company(one entity) owning around 40% of the hashrate means its less secure. The websites showing 51% costs to attack networks is misleading, it is not the only way to attack a network. If an ASIC manufactuer makes and then mines with the machines, this can cause a huge security issue for fractions of the cost, more so if they were selling the units anyway.
We never had to worry about Nvidia or AMD keeping the newest models to mine with. What do we do when Bitmain makes a new ASIC that is 5x or 10x faster and refuses to sell it to the public, how would we even know one exists. They will begin to claim larger and larger amounts of hashpower.
If Monero is sucessful at keeping ASICs off the network, it is IMO more secure then a ASIC network. The only way you can get enough hash power is by buying or renting GPUs, and there is huge risk involved doing it this way because its not guaranteed.
Was it coincidence that ASICs were announced for Equihash, then within weeks Equihash coins were getting 51% attacked. Who had this amount of hashpower at that time? My guess is ASIC manufactuers.
ASICs are a very specialized industry, and it takes lots of time and research to get setup and produce them. You dont have lots of competition or startups. And currently China has everyone beat, its very hard to make them play fair at this point.
This is the goal of ProgPoW, to turn the GPU into a ASIC for the algo. GPUs are very good at doing lots of things, if you program a proof of work to use every part of the GPU, you basically turned it into a ASIC. You cant make it any better, its already the most effecient design.
said what i needed to say. unconvinced by your argument, and i know my view is the majority view amongst traders. this seems to be turning into a GPU vs ASIC thing. might continue debating with you, but probably deserves another thread. we’re kinda destroying the price speculation thread, imo.
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That is what ProgPoW is designed to do! They would have to build 90% of the functions of a GPU and provide enough memory and the bandwidth! It is as close to a knock out punch as we are likely to get. It would delay them much more than 3-4 months at the very least.
They would need to build ASIC architecture near close to Nvidia/AMD. Intel has tried that for many years, and failed. Are you saying Intel has no monetary incentive ?
I sure hope you are right, I loaded up on Zcash recently 
Intel has tried, succeeded, changed strategy, and now is back with new GPU’s for gamers set to release in 2020.
You know how much less it would cost bitmain,innosilicon and company to develop same spec gpu’s?
They would save up on (I’d say easily 50% and at least 30%):
- packaging and handling
- design
- marketing
What they are building these days is easier and already super effective, they have no need to compete with team red,green or blue. Why would they risk making dangerous enemies when they can just continue being the leaders of their own business?
2020 you say? Woah that is fast 
Please slow down, I dont want to have a heart attack
I believe they stated they will be presenting prototype @ CES 2019, so yup, team blue is back in the game.
EDIT: rumours say it
In any case, GPU that Bitmain would eventually make would only be a competition to GPU’s not drive them off the network.
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If a custom made ASIC for ProgPoW had a advantage of 1.2x over a GPU then I think it was sucessful. Look at Ethereum, ASICs for that barely reach 1.5x over a GPU. This is how you combat them, making PoW that uses every part of a GPU, basically using the parts of the GPU that you cant just slap into a ASIC cheaply.
They could probly never come close to the speeds of GPUs currently released, guessing how Nvidia and AMD have been spending millions of dollars over many many years to get to the point they are. To say Bitmain can create anything on par with Nvidia/AMD in a resonable timeframe is a joke and a discredit to the GPU companys.
Back to pricing…judging how alot of people are trying to sell coins to ROI on the ASICs before they become obsolete, + the GPU miners selling out, im guessing there is going to be more selling pressure and a climb out of this dip is going to be hard. Sad timing to be hit buy ASICs imo, during a huge crash, such a drastic change for the network/community, this will most likely lengthen the recovery time.
https://bitcoingold.org/statement-regarding-bittrex/
I knew hahahaha
Once again they showed balls, first 144.5 to prefent Asic, now they stand up against 1 big exchange.
It would be a good move from Zcash to switch to being ASIC resistant as soon as Sappling upgrade is done, but like DidiCC said it takes balls to do that.
Best algo for long ASIC resistant would probably be progPoW, but also changing equihash parameters every 6 months to say 144 5, 192 7 etc. like Monero is doing with Cryptonight would also do the trick.
Here’s a thought… there’s been discussion about how the diff algo works when hashrate plummets (ie: fork off ASIC) and it doesn’t handle that well.
By some quirk of fate thats exactly what happened on testnet, which they had to resolve to complete 2.0.1-rc Sapling testing.
Interesting coincidence.
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The ship has already left port.
There is no way they are going to switch back to GPUs now. They were afraid of network security when ASICs came out, they definitely wont fork now that ASICs control the network. How do you switch from a 100% ASIC network back to GPUs? Do you boot off all the ASIC people mining?
Who will be left to mine and secure the network at that point. There is no GPU miners mining anymore…How do you get the GPU miners to come back and secure your network? I know if they fork, I wont care and I will probly never mine ZCash again even if they switch back to GPUs.
They had their chance to stay anti-ASIC. They flip flopped their opinion at the first sign of a ASIC being announced (before they were even mailed out), and now its too late, ASICs are here to stay.
Crypto hasnt even been around this long, why would you belive the price will follow the hashrate in 10-15 years? What evidence do you base this idea on? If it takes 10-15 years, there is no data or zero evidence to show this, Bitcoin is only 9 years old and shows the opposite of price following hashrate. Hashrate seems to follow price…
Price following Hashrate looks like a opinion more then fact. Please anyone show me differently, I have supplied charts from 4 different coins to show price does NOT follow hashrates, and all the evidence you guys keep showing me is “But price does follow the hashrate”. Please support your claims with some evidence.
Im honestly curious why you think the hashrate number makes the coin worth more.
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more hashrate = more money invested
more money invested = more interest in higher price
this is for HW as for trading.
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So if a new ASIC came out for $100 usd, that did 500K/sols, Zcash price would go up? Because your logic, more hashes = more invested?
Hashrate does not = more money invested.
Infact I would say more money was invested BEFORE the ASIC invasion. All the GPU miners are gone, who have been investing into mining for 2+ years. So hashrate going up does not mean more people are invested.
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Unrealistic.
Such ASIC would ROI in 12 hours.
You are acting childish, I won’t bother anwsering you anymore.
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I don’t disagree with either. To fulfill both of those goals you need a high priced coin and be GPU mined.
more power used to mine = more secure network
EDIT: I like how you pick the first half of my sentance and refuse to answer the question.
Wow already at name calling. Why cant you have a civil discussion about how more money was invested with GPUs then with ASIC for the Zcash network?
I have yet to see you post anything to support your claims besides, “LOLZ ur dumb”. Please try adding some supporting evidence. Thanks.