is that how you read the markets…
That’s how he reads it and there is nothing bad with it. His prediction, his money, his risk, his investment.
Everybody can try his luck, or better invest with pure GPU coins like Monero, BTG after they directly relate the price to Asic, GPU or POS. Why not, time will show who had bet on the better horse…
Im here because I once believed in the project until this Bitmain sellout. Im sorry but until we get a POW that at least levels playing field for GPU miners I will not support this coin. Its a shame too because its some really bright people working on zcash.
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This is dishonest.
Flypool had a lot of the hashrate, but it was made up of thousands of independent miners.
When the ASICs first came out, the largest Zcash miner quickly became an unknown account that was likely using ASICs. (This account has since been split up to make it look like it’s not a centralization threat.)
A very large mining pool made up of thousands of independent miners is completely different from a very large mining pool belonging to one company, with hardware that is exclusively available to that company. You simply cannot compare the centralization threat that occurs from GPU miners arbitrarily joining a certain pool with the centralization threat that occurs when a handful of individuals have hardware that is vastly more powerful than publicly available hardware.
But, hey, you and Zooko both know this. You also know that it would be trivial to get rid of these ASICs. We’re talking about a few lines in the source code. Something is amiss when it comes to Zooko’s reluctance to fork away from ASICs.
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What is harder for attacker …to have 1 000 000 top end 900$ GPUs in rigs all working and setup for same thing ,all running same code…or 5000 ASIC that are plug and play…dont need rigs ,OS setup or anything .
[edited by root to remove Code of Conduct violation]
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You forgot the most used attack method, renting hashpower. NO attacker ever would build an asic farm for a 51% attack and than throw away millions in hardware. That’s not realistic.
Nowadays you just go to nicehash, buy hashpower and attack whatever you want and can, enough you have some BTC available, there is zero need in building up a farm.
There is no single attack from nicehash …nicehash power is rent by hour and would rise red alarm quickly and attacker would just throw BTC for nothing.
Also nicehash never had more then 10% off Zec network.
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dream on …
If people cared about preventing attacks they would not rent their hashpower to the highest bidder. They would only mine for themselves in a pool.
The large pool threat only occurs if the pool operator wants to use their connected power to make an attack. This can happen, but if its discovered their credibility goes out the window and they would lose nearly every connected user. There goes their long term synthetic equity. A pool like flypool with 1% of half the block rewards would have no valid financial reason to 51% attack anything with cashflow like that.
You don’t seem to get it.
If the goal is to remove the possibility of a 51% attack, then there is no point of proof of work mining.
I don’t get it???
Actually that’s just what i think will happen the the next 6 - 24 months. I don’t see any reason why any other coin than bitcoin should be POW mined.
And after you comment that i just don’t get it, fine that everybody else gets it, mostly dzonikg with his absurd claims, lol.
http://www.innosilicon.com/html/a9-miner/index.html
Innosilicon is offering “Buy one get one free” for their A9 ZMaster till the 28th.
Proof of work for altcoins isn’t about making the cryptocurrrency immune to 51% attacks. It’s literally the exact opposite. Any altcoin that does not incorporate merged mining with Bitcoin is accepting a serious risk of a 51% attack. The idea is that the benefits of a fair distribution outweigh the risks of attacks. With GPU mining, fair distribution happens pretty readily, since millions of people own GPUs and can start mining with the press of a button. They can earn coins and secure the network without risking their capital. They essentially get free coins, which is a good thing.
With ASIC mining, however, there is no fair distribution. Thus, there is no real benefit to the world of having a separate ASIC-friendly proof of work chain for an altcoin (there is obviously a benefit for ASIC manufacturers, which is why I refer to the “world”).
The only rational options for altcoin distribution are 1) ASIC-resistant proof of work with GPUs, 2) merged mining with Bitcoin, or 3) a permissioned ledger with regular airdrops of new coins to Bitcoin holders.
ASIC mining is the worst of all worlds.
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The results of the polls should be coming in soon, you’ll have a better idea of what you can potentially expect and what to argue for after that
Can you explain this further. I am really trying to understand all PoV, but when I see ASIC sold by multiple OEMs and resold by 3rd parties I have hard time seeing what you’re seeing.
I always fall back to, “well this argument could be applied to anything”.
You say GPU will fix everything, okay, why GPUs and not say CPUs or HDDs or FPGAs or Raspberries.
ASICs are currently banned in few countries. ASICs distributions are more controlled.
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I’m not sure you understand how mining works: the pools dish out work and then combine that work towards solving blocks. The hashpower is held by the pool, not the individual miner, making a theoretical 51% attack possible. This is no different than any solo miner with > 51% hashpower.
Further, I think @zooko has been more than transparent with his communications with both Bitmain and Innosilicon - who, by the way, are competitors. Hopefully more competitors will enter the ASIC market.
Are those overclockable?
No they are not. Innosilicon products are pretty locked down. Even fan speed is auto-adjusted.
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