Let’s talk about ASIC mining

So this is one of the big problems with ASICs right now. How can we get enough distribution of them when only one company is making them and controlling the market.

Lets say they dont release anymore for months, How can new miners get into mining when there is such a lack of supply of ASICs. Who is going to buy a $2,100 ASIC that makes $2 - $5 in a month or 2, IF they even release more. Only people buying them RIGHT now will benefit.

How do ASICs currently help the network? Im just not seeing it right now… Maybe in 5 years if there is some competition with Bitmain, I might change my mind. ASICs are a huge upfront investment and Bitmain has been sqweezing all competition out.

Edit: Spelling

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@zooko is hinting here that he will wait for all the network improvements to be completed before forking away to only GPU mining again. But he is not promising it. Nor would the GPU miners ever return to a chain they have been brutally forced off from. Once you go ASIC you are Jihan Wu’s toy, and there is no coming back from this.

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If people would even calculate what will happen to the difficulty once ASICs are released I think more people will understand why ASICs are not worth 15 1080Ti

At 5x current difficulty $6 a day - Easily reached when ASICs are released

At 10x current difficulty $3 a day - Will probly hit this in 1 months time after release.
10x

At 20x current difficulty barely making $1 a day - Will probly hit this in 2-3 months time after release.

Within months the difficulty will have gone up 5-20x and now you are making squat on a $2100 hardware, And now we are stuck with 1 source of miners, Bitmain. The only people that will benefit from ASICs are the people ordering them RIGHT now and the people that get them first.

Edit: Removed pool fee on 10x

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https://halongmining.com/shop/

https://pangolinminer.com/557-2/

https://canaan.io/product/avalonminer-841/

http://miner.ebang.com.cn/#

no ASIC competition whatsoever!

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You can never compete in ASIC space with Bitmain …EVER…that unit cost them 100-200$ to produce MAX…but they sell for 2000$ + all expenses (i have to pay shiping + 15% import tax + WAT 20% so its 3000$ for me and waiting and hoping it will work when it come)
So how you can compete with them in mining when they cost off hardware is 20 TIMES less then yours…
That is not free market …its totally opposite.
I see that my pictures off Bitmain mining facilites are downvoted like crazy so post be hiden so Bitmain has even bots here…why would normal person ever do that.

Guess future is even replacing humans with some computer bots from China.

Well, the only people REALLY benefiting are Bitmain. They have probably been using these to mine for months with low difficulty, and are now selling them for massive premiums.

I definitely vote for us to fork to brick these ASIC’s.

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That are ASIC are useless…they cant cover even electricity cost

thise hashrate go on moon soon and then lost lots user that buy GPU only for Zcash

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Yep. Well caring about ensuring a broad distribution of the ASIC didn’t last very long lol.

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Why they opened this discussion? They doesn’t want to make a fork, they doesn’t need our opinions. Almost a week passed but there no any solution and anwer from ZcashCo. We need to understand that ZcashCo happy to this asic. We need to end this discussion. We said our opinions, we created our answers, but Zcash wants other solution. They wants this asic, we want a resistance against this asic.

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I thought the main point f Zcash was the privacy aspect. For those who already had a GPU, you lose nothing to ASICS. You didn’t buy the card to mine crypto, because you already had the card. Actually, you took the mining away from CPUs. So, either find other coins to mine or your cards are still good for what you bought them for originally. Stop whining about decentralization, and that only a couple companies produce all the ASICs. Look at AMD and Nvidia. They are just as centralized.

Others like me who bought cards in order to mine, we took a risk. Some people got in at the right time, some didn’t. Some made a lot of money and some lost a lot. Although this algo was supposed to be ASIC resistant, it’s not, so deal with it. Saying that ASICs are not decentralized, but GPUs aren’t is just bull. Especially given the fact that Bitmain has restricted the Z9 to 1 per person. Someone with enough money to buy an ASIC farm can certainly buy a GPU farm. And, unless you are running a full-node, and solo mining, you are not contributing to the decentralization and are only in it for the money - so stop parading around like a bunch of saints. Remember, you did the same to CPUs.

I, for one, made enough money from mining over the last 8 months to completely pay for my cards. I saw the Z9 notice, so I bought one and sold my 4 1080Tis in a few hours, on eBay, for more than I bought them for. I also bought a Scrypt miner and have money left over. I’m happy because I bought them from the proceeds, so it really cost me nothing. Do I care about decentralization? Sure, but do I care that you haven’t made your money back yet, so you want to fight ASICS? Not really. If I hadn’t sold my GPUs I wouldn’t be whining about it, I would just go mine another coin, and if all the Equihash coins fork, then I guess I bought a $2k Bitmain souvenir that I’ll chalk up to a bad investment. You can support a coin in other ways, like buying coins and running a full node, if you’re that benevolent.

Take ownership of your decisions, and stop blaming the developers for not doing what you want them to, just because you try to shout them down doesn’t make you right - it is their coin to do what they want with it.

Anyways, I think the best way to decentralized all cryptocurrencies is to do away with centralized pools, and have something like p2pool for all of them. Why is nobody addressing the issue of pools? Because, unless your mining at a very small pool, you really are the problem, and your words are empty.

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Agree, There are nothing to talk about , because their opinions have been expressed very clearly. Their do not need GPU miner already. Maybe it’s time to give up zcash.

Very sad over trust in zcash.

The only people that benefit from ASICs are people buying them first. How does this help anyone but the greedy few who get the first batch? Hurt the many to help the few?

Please give me a good reason why ASICs in the current Bitmain monoply is a good thing for the network, I have yet to hear one in 1500 replys.

edit: Also Bitmain raised Max Limit on Z9 to 50 per customer now, and sold out. Good Luck to anyone trying to buy one for the next 2-3 months.

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Don’t need to continue your great speak. You sold your rig and go for the imaginary easy money, but the history of asics reminds that every month your income will worse day after day. With GPU-mining without asics you had stability profit every day.

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They are still available, but that changes nothing (50 pc, limit). RIP ZEC GPU mining

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When I checked thier website they are sold out.

still available for me…

Not sure what to say then, I just took that screenshot, they are sold out to me in the US.

What I understand from this topic is that if the Asics will work the GPU mining will be dead and changing algorithm involves an hard fork.
I don’t think Asic will bring the win or death of Zcash, what will make the difference maybe it will be the Sapling and the team behind Zcash.
I wish you to do a good job Zcash team!

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I am really wondering why Bitmain would start selling those miners, while it surely would be way more profitable for them to mine with em…

I am sure some ppl behind the scenes know what will happen and are disclosuring some important information on what will happen to equihash. I am very uncertain on ZEC and equihash right now.

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