From that text
" Solar Designer (Alexander Peslyak) analyzed Zcash’s choice of Equihash and its parameters in 2016 and concluded that Zcash’s parameters (n=200, k=9) are suboptimal and may need to be changed. The submissions to Zcash’s Open Source Miner Challenge required at least 144 MiB of RAM to efficiently find almost all solutions at Zcash’s parameters (current largest commodity CPUs include over 64 MiB of SRAM), and with a specific goal to maximize the amount of SRAM per die, ASICs can catch up very fast, with 10 to 100 improvement in energy efficiency and hardware cost over the most suitable commodity hardware"
But Zcash never change it…and 2016 was 2 years ago …so they had a lot off time since they were warn that they need to change it.
So it was lazynest level 1000 or they wanted GPU out…no other explanation for 2 years doing NOTHING.
For very long time i was thinking that all this is not coincidence.
Not just Zcash but almost all other algos which mean 95% off all POW coins choice very very low memory requirements and parameters that are 100-200mb most…which if you consider that almost all gaming GPUs have 4 gb or more and now most have 8 gb cant be just coincidence or not so smart DEVs .
I thing that choosing so low memory parameters was call for ASIC and they wanted ASIC to take over from the start.
Does anyone know how this compares to privately-owned mining operations?
Squire Mining Ltd., a listed issuer on the Canadian Stock Exchange, announced on Friday that is has entered an agreement to acquire crypto mining assets owned by CoinGeek and its affiliates, paving the way for the formation of the largest publicly-owned crypto mining operation in the world—henceforth known as CoinGeek Technologies Ltd.
Under the deal, Squire will take under its wing CoinGeek assets consisting of 62,440 ASIC mining rigs, representing an estimated 960,000 terahash/s or about 90MW of power consumption. These assets are operated by host providers across the United States, with 35,940 rigs, as well as Canada (6,000 rigs), and Kazakhstan (20,500 rigs). The crypto mining assets have an all-in weighted operational cost of US$0.073 per kilowatt hour.
Related, from the majority 53% shareholder:
Another publicly-listed mining company is MGT (a company which John McAfee founded but is no longer part of) and they claim to have partnered with Bitmain (at least as a supplier): https://mgtci.com/
They have for sure a strong SHA256 miner with
Squire beats all of these, generating 19 terahashes per second and using 700 watts for an efficiency of 36.84 W/TH. “This is the best miner as far as we know,” Yuan said.
That’s at least 3x more efficient than the Bitmain S9 which is around 13.5 TH at ~1,300W
With 0.07$ per kw/h they have a good deal, but only to beat private mining operations… From an article or post some days ago it was mentioned that in china the big mining facilities pay 0.02-0.03$ per kw/h. But that’s the battle with the big guys than.
Someone can pretty sure announce that by now (or latest in 2-3 months if we take into account equihash as well), private mining is done once and forever. Neither has private mining access to such low electricity neither to such efficient hardware…
Interesting, i like this approach:
Interesting, I wonder if they’ll do what Bitmain did except actually say it in the “terms” (which no one reads and is the only reason they’re in trouble)
Other than that (my maybe contrived conspiracy theory) its pretty cool
I saw that new FPGA miner Blackminer F1…
It can mine multiply algos much much better then GPU but i also saw how is so easy to brick it so it cant mine.
Its a 12 FPGA chips that everyone mine on is own …but it has very tiny memory per chip …just 32 mb …not even enough for Zcash.
And is amazing how many algos work with that tiny memory …more then 10 …makes me thing how much ETH was 10 levels off all the others in creating algorithm
You’ve been able to do that with NiceHash. Just click the use when idle feature and you’re off to mining when you are not gaming.
While a full exploration of ASIC resistance is out of scope of this article, the observations above strongly suggest that pursuit of ASIC-resistance in a coin is counterproductive to the coin’s security.
Vertcoin is ASIC mineable coin, is it not?
Tried not to be, but didn’t work out as we know it.
Totally false conclusion …VTC is for at least 4-5 months ASIC coin …is algorytm is Lyra2Rev2 for which ASIC egist …so coin is attack by ASICs.
Its same lie like that BTG was attacked by GPUs while it was attack by equicash ASIC before they fork to more memory hard parameters.
LIke i sad in my previous post all that algos like for VTC were made to have ASIC…their mem requirements are laughable low
It false try…when you algo is minable by 32 mb off ram while GPUs have 4 gb+ saying how they try is laughable …all they try is new algo that they wanted ASIC to be create as easily as possible
I didn’t say that VTC wasn’t mineable by ASICs I said that they tried not be. They literally say this in their website:
Pioneers of ASIC Resistance Decentralized Mining
This attack is happening just as Vertcoin are preparing to deploy a new PoW.
Addressing the ASIC in the room. As some of you have seen, there is currently an ASIC for Lyra2REv2 for sale. Outside of the website listing the asic for sale, we don’t have any proof they are functioning. https://medium.com/vertcoin-blog/vertcoin-development-update-september-2018-4534aadceae0
As has been previously announced, ASICS that can mine Vertcoin utilizing the Lyra2REv2 hashing algorithm are in the wild. The Vertcoin Development Team has a long term solution, dubbed Verthash, in the works. However, we realize GPU miners need a solution today. Meet Lyra2REV3.
- brick existing ASICs
- reduce inherent advantages of ASICs/FPGAs over GPUs
- enable hard forking in a fast, yet safe and secure way https://medium.com/vertcoin-blog/vertcoin-development-update-november-2018-ad932fbff14e
One good news :
Also have you seen Nicehash selling Equihash mining power? The amount they are selling, I cant tell from this, is it a Lot ?
According to this its 8% of about 2.2 GHs so about 176 MHs (out of 2200ish)
Created a forum thread for those interested:
UnitedCorp Launches Suit against Bitmain, Bitcoin.com, Roger Ver, Kraken Bitcoin Exchange and others Alleging Hijacking of the Bitcoin Cash Network
Well if only this bear market bankrupts Bitmain and Bcash’ers, it was worth it
I read that their Q3 report says loss of 750M $, i will only get worse in Q4.