Bitcoin Forum

Hello people,

Has Monero updated it`s algorithm so that you won`t be able to mine with a high hash rate with an asic miner? What miner can you buy for this coin?

use Vega graphic for monero

I want to use an Asic Miner. Can you use it or you can`t?

you can't use asic to mine monero.

This is blantantly incorrect.
Nothing beside knowledge and financing prevents anyone currently to make an asic to mine XMR.
It is absolutely possible that a small team has already build a new asic to mine MoneroV7 the same way bitmain mined secretly monero for at least 6 months before starting to sell it.

There are definitely FPGAs on V7. However, OP, XMR is about to fork again, so it's a bad time to invest in Monero asics, especially as there are none publicly available.

There are plenty of cryptonight asics, and quite a tale behind them, so I suggest some heavy research as a starting point.

Use it for bitcoin, it's more profitable in future

of course everything is possible, but I referring to him cannot mine monero using asic because currently no one sell asic that can mine monero. unless you think that he can make asic by himself.

base on network hash rate I still believe currently no asic for monero, most probably is botnet and FPGA beside GPU and CPU miner.

I see what you mean. Sorry for the confusion :)

While searching on google I found an article that Bitmain was release antminer X3 which you can mine with Cryptonight algo.
Take a look at this image below.

https://cointelegraph.com/storage/uploads/view/fba7f3c640072f2e933013817dc10f75.jpg

And this link https://www.asicminervalue.com/miners/bitmain/antminer-x3-220kh

So, there is ASIC miner for Monero available from Bitmain.

^ Yeah, but didn't Monero devs alter the algorithm, so that it is not possible to use the Antminer X3 for Monero?

ohh boy. you arent really up-to-date in the asic universum :D that miner came out before monero fork . it was loooong time ago

You must use graphic video cards to make it more profitable.
You can also do it in ASIC, but it's just for fun.

The Monero developers changed their algorithm when ASICS were being produced massively only for the Cryptonight algorithm with crazy speeds like 220 k/hash per second.

The developers of Monero don't share the same views as those of ASIC makers so they moved away their algorithm to the new Cryptonight V7, and they will be ready I think to move to another version if ASICS come again to attack this algorithm.

So you can't mine profitably with an ASIC anymore the Monero algorithm, you should use GPU rigs and the most profitable ones are those with Rx Vega 56/64 cards.

I can pretty much guarantee that Bitmain will come out with an ASIC for any profitable algorithm that they can. Then after extracting an exorbitant amount of profit for themselves, they will sell the "new" miners to retail miners shortly before the developers update the algorithm again.

But don't take my word for it, read this article by one of the developers at Sia: https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

You're absolutely right. But I am not convinced it's profitable to build (I am sure it's not profitable to buy) such a device every time Monero forks and changes a little bit the mining algorithm.
And this should get Monero off Bitmain's list...

All it matters to Bitmain is that they make a profit off it. If I remember correctly, it cost them about a million or two to develop a new miner. So if they think they can make a decent profit above that, they will bring out a miner for that algorithm. Although I know some of the miners they have released only got delivered maybe two months before the algorithm got switched or tweaked to make the miners essentially unprofitable.

However, if Monero (or any other coin that they've made miners for, for that matter) proves they can stay agile enough to switch algorithms once they detect unusual hashrates appearing on the network, that would definitely dissuade Bitmain.

Agree, everything is possible but it's a matter of time. We have to agree that Bitmain is pure shit, their actions are out of control and all they do is trying to get massive profit with massive control, still doubt why did they decide to sell monero asic miners, well they had to do it for another reasons and profit and to stay a little bit in shadow but curious what will happen in near future, I believe they will crack any other coin too but in how much time will they sell miners or even do it?

It is a known thing this one, that Bitmain only cares about their finances and that is why I like developers like the ones who have developed Monero, they care about decentralisation while Bitmain doesn't and that is a fact.

I think Bitmain has quit going after Monero after they changed their algorithm once, they can do again , so I doubt Bitmain will have time to lose chasing the new cryptonight algorithm.

Monero will be quite profitable when people realize how useful the privacy is.

They definitely won't be going after XMR again. XMR's changed their algo already, people have seen it, and there's not going to be a lot of people willing to take the risk of trying to mine XMR with ASICs again when the response will probably just be another algorithm change to flush out the ASICs on the network. Bitmain's likely going for other algorithms now or improving on current miner designs to increase efficiency.

Indeed. Just to be clear, XMR forked once already, bricking the asics mentioned in this thread (or forcing them to mine ETN, which initially forked with XMR, then reverted), and is due to fork again in 8 days time.

So XMR is somewhat of a moving target, which will put off a lot of asic folks, hopefully permanently. All power to em, frankly.

Are 51% of miners, mining XMR are now using cryptonight v7 which fuck`s up your ASIC mining capabilities? Isn`t true just like with Ethereum classic and ethereum when that dude got 11 million out of an algorithm breach in ethereum classic. And thus forced the creation of the ethereum we know today?

That it is not possible to create a new algorithm by the creators of the coin? People created a new coin not moved updated an algorithm. How did they get everyone to move to a different algorithm did they make it more profitable? Cryptonight V7 gives you more coins than Version 6 and we the little people combined have much more computing power than JP Morgan and Soros which are trying to take over this new asset?