omg, BTC is dominated by them because BTC can not change sha256. Bitcoin is just the way it is.
Its huge disadvantage of btc compared to altcoins, that can take right changes.
Such did BTG, XMR, Ravencoin and etc.
hope boxalex can help me on this one.
@nec, It’s clear that you have an economic incentive to want GPU mining. That’s okay, but the points you’re making against ASICs just aren’t true.
For example, it’s highly plausible that there is just a delay in Zcash’s price rise after the hashrate increase from new ASICs. At the moment this could mean that miners are taking a loss for future expected gains. This is a bet they are making and mining profits are never guaranteed.
Higher difficulty means more security and higher prices require that higher security.
GPU mining can’t offer this security. In fact, GPU mining puts those coins at risk of being attacked at some given price point. There is no such thing as an ASIC-resistant coin. Monero gets secret ASICs on its network shortly after changing algorithms, which is an inherently dangerous situation.
More powerful ASICs with higher efficiencies is a security feature. It’s not correlated with Zcash active address usage at all. Higher hashrate doesn’t cause less coin usage. Bear markets cause less coin usage. It has almost nothing to do with ASICs.
For the record, I don’t have any of the new ASICs and I’m pro-GPU mining if it can be shown to be truly ASIC-resistant. However, this has proven to be next to impossible due to how general GPUs are. The situation is no different than a CPU algorithm trying to be GPU resistant… it just doesn’t work.
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When Zcash was a GPU coin I had 20 8 card 1080 Ti rigs… when I heard it was going ASICs I made the switch so if your calling out my support for Zcash that should be enough proof for you to see I believe in this project and want it to succeed. I didn’t buy any Z11s because I’m just tired of the buying and selling of hardware. Plus ASICs really have no resale value anyways… what I SHOULD have done when I sold off my rigs was buy a few ASICs and then directly bought and held Zcash.
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there is no asic-resistant coin - says who?
what about x16r algo?
Wouldnt that be losing strategy, as price has been dropping ever since May 2018. If you bought Zcash right about when you sold your rigs, you would only have a fraction of your money.
I would have held until something happened wether that be years from now or not. I believe in this project long term.
https://www.reddit.com/r/Ravencoin/comments/9r9xd9/x16r_asic_question/
The mining algo is X16R
This was created for Ravencoin By Joel Weight and Tron Black.
(Note, the original paper referenced “ASIC resistance” — this was a year ago. New capabilities of ASIC manufacturers make it easier to make ASICs. Ravencoin and it’s algo should not be considered ASIC resistant today.)
Just a quick google search shows that it’s not. It’s understanding that you’re emotional about being anti-ASIC. I’m an original Zcash miner from the start and have hundreds of GPUs. That’s part of the game. Nothing is guaranteed.
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quick google search… does not convince me.
i mine x16r for about months, i see it performing myself much more different.
for example there is no 30% increase in hashrate when price is going down.
while on zcash we see exactly that. price renewing lows, difficulty renewing highs.
and it is a fact, it has nothing to do with my emotional state.
also we see that most of hashrate comes from one country.
also we see active adresses going low.
and other facts, which i mentioned.
i would love you to proove me wrong about impact on zcash.
- hardware avaliability - fail.
- price versus BTC, versus other Alts - fail.
- active user count going down - fail.
- efficiency. GPU mining at 8M diff consumes less power than ASIC at 100M - fail again.
- hardware lifespan - fail.
- YouTube “There is no such thing as ASIC resistant. Period.”
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The difficulty is correlated with new miners being introduced, not price movements. It wouldn’t make any sense that ASIC buyers would say, “hey the price is going down, let’s buy more miners for less profit”. Further, when the hashrate goes up, coins become more rare. If anything that would put upward pressure on the price, not downward.
The only explanation is that miners are waiting for delayed price increases while they speculate or position themselves for the next bull run. As I said before, taking a momentary loss for a future much higher gain.
Bear markets are boring. Users become less active. Leaving a bear market can change that situation very quickly, but it usually requires a market leader like BTC to make that happen. These markets are highly speculative and rarely focus on fundamentals.
why so much projects trying to take action against ASIC, after experiencing good impact on price, active user count?
GPU miners could be manipulating smaller coin prices? Who knows. There are many micro-reasons for price changes.
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no man, Chinese people mine ZCASH, and they sell it right away, that’s why ZEC price is constantly falling compared to BTC and other alts.
simple as that.
they are not interested in this project.
they care about profits and roi of the machine with very very little lifespan.
they can not afford gambling with waiting.
miners are the source of zcash sold on exchanges.
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Thank you for this video… if a project has value an asic will be made for it… Zcash has value and right now I feel the coin is extremely undervalued.
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Can you provide any actual evidence beyond your opinions for these assertions?
standart move.
yes, actual evidence is price chart on any exchange.
just compare it to XMR, BTG or whatever.
Zcash falls because it’s being sold more than bought.
It’s simple economics.
100% agree. Massive value with a low price, while the difficulty is increasing. That makes it an incredible opportunity in my humble opinion.
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Exactly once this coin can break out the difficulty wont matter as much as it does right now…