Maybe alot of people had faith in this coin and stayed mining? I belived in this coin untill all the back talk recently about ASIC resistance, im starting to double think my trust in Zcash. And you asked why the price dropped. You should know that it moves with Bitcoin.
I know this picture very well… I think they are focused more on bitcoin and bitcoin cash than zcash. Its in my mind… maybe I am wrong how knows
btw there are more stories for this picture…
if they are full with asics how the keep them cool? I dont see vents
It was someone else mention with the human voice, no problem, i did not await that in any post you post something that is actually true. Seriously, from all posters here you are the one with most false, wrong and lie statements.
I know, you don’t give anything about. Just continue posting your science fiction stories. It just amazed me how in 10 posts someone does not hit the nail once. 10 posts with 10 lies, amazing record …
The whole side of the building is just a big screen/filter, with fans sucking air in from the sides and out the back or other side
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Ok, that’s interesting claim, of course that would be disastrous for the network, but how can it be less anonymous?
If Bitmain controls most the ASICs they control the network, there is a big reason you want many people contributing, you dont want to just trust 1 source, aka Bitmain.
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Well that doesn’t answer my question, how can transaction be less anonymous if bitman or whoever control the network?
That’s more than a little concerning. Is this the official statement from Zcash…or just what you are seeing from your perspective?
Assuming nothing happens until after Sapling…you won’t have to worry by then. There probably won’t be many GPU’s left if they let loose with the volume I’m expecting them to do when they see this. I also fully expect the price to triple or double now if ASIC is safe until at least December…by then they can point the finger back at ZcashCo for creating a fork the “broke the network”. These things start showing up by Summer, they could potentially get two batches out before December if they feel the need to push it.
Making future assumption that is how it goes, and you make the expected efficiency fix you were already planning to implement…without knowing the effect on these ASICs…now that seems reckless. You could potentially make them useless. Then what? You just killed the network.
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Hi,
Thank you for your detailed response. I just want to highlight one part of it.
Meanwhile, we already wanted to deploy equihash with a different parameter set which would make light-device validation of the block headers more efficient. I don’t know, at this time, if this would render existing Zcash ASIC products to become inefficient. We may try to schedule this in a post-Sapling upgrade anyway, regardless of the ASIC resistance issue.
I’m really glad you brought this up, this cannot be understated. A post sapling fork has the potential to bring zcash mining to a halt, and ruin the coin. This needs to be really really carefully worked out.
You could well lock yourselves out from being able to change anything… I detail why in these posts.
and
I would really appreciate a response to these. Or is there a better place to raise these concerns?
Thanks.
I’ve watched Monero, Siacoin and other smaller altcoin threads and they all have this conspiracy theory that Bitmain wants to control every coin by having > 51% of hashpower and taking over everything.
I just don’t buy this argument. They are a hardware company selling a product that people will buy. It’s the free market in action. You expect them to stop developing because it steps on a few gpu miner toes that freely switch between coins fro day-to-day? Please. Most gpu miners want versatility and hardware resell value. This is a conflict of interest for them to not want change.
As a gpu miner who doesn’t switch from coin to coin and has only mined Zcash since day one, I can tell you that all of this fear is overblown from a potentially small minority that is very vocal. I would prefer ASICs to gpus after weighing the arguments for and against.
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Ok lets say you are only able to mine with ASICs now, z9 mini is obsolete, and costs more to run then you mine. However Bitmain owns the new ASICs they have not released for months and now have mjority of the network under thier hashpower.
They can now open central mining pools and track your IP/or register when you mine(its china why not). You can try mining blocks on your old outdated hardware solo, or with other people that have outdated hardware witch might take years to hit a block, or join their mining pool…This is unlikly scenario.
Or if there is a bug in the privacy code, chainging it will make ASICs break. When they goto fork, Will the ASIC fork for privacy or stay on old chain because it works with ASICs…thus decresing privacy…This is possible
I have yet to hear a good reason why ASICs with the current Bitmain monoply is good for the network?
Only people that are buying them RIGHT now will be the ones that benefit from them, while displaceing ALL GPU miners, And in 1-2 months who will pay 2100 for a ASIC that makes 5 a day, reducing new miners?
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Generalize much?
Bitmain is the hardware maker, the distributor, and at the very least in Bitcoin the BIGGEST fish in the pond @ 30% hash of the entire network. They aren’t just the supplier of your miner, they will be your competition. Competition you can’t win against, let alone keep up with.
All GPU miners flop from coin to coin every day? You must be referring to the NiceHash folks? They aren’t committed to any given coin really, they either sell their hash power, or are buying hash power. You will compete against them as well, even in a ASIC world. Do some miners chase profits…I’m sure they do, even though those of us who have been around repeatedly say you will get farther if you stick to one or two coins and just sell on the highs if you must. I’ve not met a coin jumper who can match a steady miners income over the long term.
You aren’t going to tell me anything @root to be honest. I came to Zcash because we were led to believe this project would be the bastion we were looking for so we didn’t have to compete with Bitmain BS. So don’t tell me to get with the times, or just mine something else. This “is” the something else. Bitmain only wants Zcash because us “behind the times GPU miners” put the effort into Zcash to get it to where it is. It wasn’t an ASIC that supported the network, it was many hobbyists, small, medium, and yes large GPU miners that helped keep this afloat and moving. If we didn’t show up to the party, there would be nothing for Bitmain to raid.
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@Moordrik Why do you say 30%? I estimate between 50-60% (data source was Blockchain.com | Charts - Hashrate Distribution )
Also don’t forget the exahashes which Bitmain has pointed at Bitcoin Cash could be redirected to Bitcoin.
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Conservative estimate on my part. I didn’t count ViaBTC and I don’t count Antpool, because when you buy a miner…it points there by default. I would rather say 30% and be under representing than make the mistake of over representing and be accused of inflating the numbers to support my argument. But it wouldn’t be surprised if it was ~60%
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@Moordrik and everyone else in this thread regarding posts from Cryptomined.
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I don’t find this hypothetical about becoming unable to change the protocol persuasive at all. A different PoW would start with a different difficulty. Therefore, it doesn’t matter how much hashpower the old PoW had. Even if one actor controlled 100% of the old-PoW hashpower, and even if that actor would do anything to prevent us from switching to a new PoW, they’d be unable to do so.
Also, have we seen any events like this in practice maybe Bitcoin-Core vs Bitcoin-Cash, or Monero-vs-Monero-Classic? Doesn’t seem like anything to worry about.
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I think the decision has been made based on posts by Zooko, and other Dev’s here, so to summarize this thread:
If you are GPU miner and don’t feel like reading this whole thread:
- Any chance of forking won’t happen until next year - so no POW change now
- Next year will be too late to reverse course away from ASIC
- GPU mine into August (if you even care anymore)
- Come September, party is over, switch to a coin with integrity like XMR
Even though there is no competition for BTC miners after all these years, the ZCash team believes there will be people scrambling to make Zcash ASIC’s - I’ll re-consider this coin when that happens.
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