Let’s talk about ASIC mining

i mean, not so long ago, beloved and completely transparent Bitmain did not hesitate to sell you z9 mini with 11.000sols for 1999usd.

and now they suddenly give away 135.000sols for 1242 usd.

but yeah, z11 not avaliable anymore… im guessing who bought them all… which country… hmmm… real mystery…

jokes aside - it is just the beginning.

right now 70%+ hashrate is in China.

with every new asic it will only get worse.

rates at which it gets worse are just shocking.

and you deserve it all, for not resisting.

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This isn’t a game changer, this is no different than someone coming out with new mining software that increases the hashrate or the new GPU (you know the new card that comes out with 8% to 12% more hashrate). You either keep growing, keep expanding or fall behind.

I was / am already selling my z9 mini’s to make room for a couple of Z9’s, though this addition to the family will mean selling them for less. The Z11 is about 300.00 more than what I was going to buy the Z9 at, so no difference to me.

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dude, he is still around, dose he get paid for it?

i get paid, sure, why not?

There are clearly several GPU (only) miners here with economic incentives to be anti-ASIC. As long as they adhere to the code of conduct I think their opinion adds to the discussion. For one, it provides a clear example of the behavior that the current distribution creates. This can be valuable for making predictions about future PoW changes or switching to another fairer distribution method.

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It’s nice that people know about who I am speaking of.
Anyway I would like to get paid too… LUL

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The Monero Hard Fork – Did it Help GPU Miners?

Monero’s introduction of the anti-ASIC Proof of Work protocol saw hash rates plummet by 83%. However, the hash rate is already beginning to climb, recovering to 313.75 Mh/s from 95 Mh/s.

The one danger is that over time, Monero’s commitment to its six-monthly hard forks may be unsustainable. This is because community consensus becomes increasingly harder to achieve – the last fork spawned four Monero spin-off projects.

complete article here

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While i’am really not a Monero fan i think it’s ok what they are doing and trying to achieve.
They want at all cost stay asic resistant and stay a cpu/gpu coin project.

It’s even interesting to see how it works out long time and i’am all for having a gpu mined Privacy coin like Monero, an asic mined coin like Zcash (which i believe by now won’t lead to anything good), a POS conensus privacy coin like PIVX and or hybrid projects like Dash and others for example.

I’am pretty sure Monero will soon come up with something that might kick off asics for longer. Shouldn’t be too hard to make/modify an algo that is truely asic resistant for longer…

The CryptoGlobe article fails to mention that the Monero spin-offs are obsolete.

Here’s how CoinGecko ranks them by marketcap…

image

Monero’s network upgrade in October may include switching the PoW to RandomX which targets CPUs:

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Thx for sharing the link. Very interesting, while i’am no way nowaday a fan of POW, cpu algos are the only exception that have a future … Just my opinion of course.

EDIT: Link to the actual report from Binance: Digital Assets and Cryptocurrencies | Blockchain Research | Crypto Analysis | Binance Research

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I agree with most in this report but absolutly not with this:

Outcome 2: Low hashrate = higher probability of 51% attack

As ASIC miners were forced to “opt out”, the hashrate dropped by more than -70%, resulting in a slightly higher risk of a 51% attack.

This just doesn’t make sense. There was mostly 1 facility mining with these secret asics, or they wouldn’t be secret at all. The author forgets this fact absolutly. So there was more or less all the time a chance of a pure 51% attack with the ~70% hashrate coming from asics.
Removing them, especially in the monero case, did not increase the chance of a 51% attack, but very much lower it as the dangerous part, the single asic facility was eleminated on the network.

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Actually thinking a bit more about the Monero case some more thoughts:

  • Having in mind that the Asics have been secretly mined, Monero just had no other choice than forking asap!
  • Having in mind that these secret asics are not sold to public, is actually the worst case. A single facility gets the majority of the rewards without chance of competition. That’s a pure monopoly case at it’s best. Again, Monero just did the right thing fighting a pure monopoly.
  • Than pure mining centralization. Having centralization on mining pools is bad, having a single country mining the majority is bad, having a given single hardware monopoly is as well bad. But having all these in a single case like it was with Monero is just the worst case crypto mining has EVER seen yet with a single facility in a single country on a single miningpool with single non-public secret hardware.

Everything else than forking immediatly would have been suicide in my opinion. Thumbs up for Monero on this one!

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New Innosilicon Equihash A9++ ZMaster ASIC Miner

Hashrate: 140Ksol/s ,Power Consumption: 1550W

Not as good as the Bitmain Z11 but just 10k/sol more hashrate than the A9+ Zmaster…

This makes no sense… (well it does - the power of competition to drive the price down)

They already had the A9+ with 120Ksol’s at 1550w but they wanted USD $5,000.00

Now they came out with a A9++ with 140Ksol’s at 1550w @ USD $1,580.00

Shipment of this is May June

Totally agree, that’s the todays asic mining hardware game. All the miners rewards/investment go to the hardware producers and electricity companies. Easy and simple as that.

Happy mining to all A9 and A9+ owners … :innocent:

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Just an update on chinese ZEC mining pools, pure geographical centralization by today as the top 6 mining pools are all chinese:

  1. poolin.com: ~1.0 GH/s = ~ 41-42%
  2. f2pool.com: ~535 MSol/s = ~ 22%
  3. antpool.com: ~330 MSol/s = ~ 13.5%
  4. flypool.org/whibbit.cn: ~323 MSol/s = ~ 13%
  5. viabtc.com: ~83 MSol/s = ~3.5%
  6. nanopool.org: ~52 MSol/s = ~ 2.1%

Total: 96% geographical chinese mining pool centralization (does not even include the smaller chinese mining pools)

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