51% of mining power can control any and every aspect of blockchain with PoW concept.
Nodes are nothing.

Of course, I agree that any new altcoin can be victim of 51%-attack.
Especially, if sha-256 for PoW used.

I agree that altcoins has no such utility(acceptance level at e-shops) as Bitcoin.
Yes, it's big problem of altcoins.

I was only saying that control 51% equal to control 100%.
I was not saying that it is possible to control 51%. Also I was not saying that it is impossible. 

I will think a lot and may be I reveal details of my idea here.
I am not sure if it can ruine my patent priority request. In theory - not. But...

WIPO is serious organisation. they should to verify patent priority request against all patents in the world.
my experience shows that it take +-8month to get preliminar answer.
before getting such answer it is better not to reveal idea to public.

>whether the token will be backed by the fiat money or not?
no, it will not be backed by fiat.
by the way, all backed by fiat currencies are in fact fraud such as Tether.
sooner or later all of them are making fake records about fiat reserves.

the concept of Bitcoin is such that 51% mining power = 100% control of Bitcoin.
sabotge via controlling nodes is not possible.

>And there is no way that your project will have the same level of decentralization as bitcoin.
no, absoutely the same level of centralization. trust me ;-)

yes, I already made a note that I was speaking about Binance-USD, but not BNB.

I see you are second bitcoin maximalist here. first was slaman29.

in any case, thanks for your opinion. it's important for me.
may be my idea is bad in any case (

as for me the bigest Bitcoin problem - is volatility.
let say 3months ago I bought BTC for 40000$. but now it cost only 20000$. is this OK for you ?

also I can't agree that you can pay only using Bitcoin. for example Ethereum and Monero is also acceptable in many places.

I don't know :-) So that's why I am writing here May be someone explain me, that no one needs such. Or otherwise that all are waiting such

And why others are mining bitcoin ?!

In short, I understand why are you wondering.
My idea is very unique and it's against modern day crypto-currency principles.
It's hard to understand how crypto-currency can be at same time be 1) mined 2) stable 3) de-centralized

I've already filled patent priority request to WIPO. It will take +-8 months to get preliminar answer from them. Before that monet I can't provide technical details.


But I am still can't find answer - is such currency needed to anyone at all ?!

I'm not sure what do you mean. My english is poor ? Yes, I am sorry, I am BEL-UKR origin and my native language is RUS.
But I am trying to write as good as I can.

You provided me URL to DAI. thanks !
But...
I've read white paper there
https://makerdao.com/en/whitepaper#fast-low-cost-remittances
"The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.”"
1) it's 100% centralized = any wallet can be blocked
2) I found no info how this DAI can be mined.

I mean BSUD(https://coinmarketcap.com/currencies/binance-usd/),
but not BNB(https://coinmarketcap.com/currencies/bnb/).

BUSD is really stable.



In my cryptocurrency de-centralization will be at same level as in bitcoin.
As we know, in theory in bitcoin absolute de-centralization, but in fact miners can cooperate, get 51% of mining power, and in such case 51% equale to 100% centralization.

Thanks for all for answers and sorry for delay.

Hello !

As we know, modern days there are either mined or stable cryptocurrency.
Mined example - bitcoin, stable example - binance coin.
Disadvanatge of mined currency is that - it is volatilic and exchange ratio to USD can drop-raise tens of percents per day.
Disadvanatge of stable currency is that - it is centralized and central authority can block any wallet due to any reason.

There are attempts to create mined'n'stable currency, but in fact all of them are centralized.

I have idea how to create mined'n'stable cryptocurrency. It will be 100% de-centralized.
Only one disadvantage I see - it will be low currency supply.
If sha-256 used and all-all bitcoin miners are used, then per day there will be only +-40mln. USD supply.

I am interested to hear, will such currency be interesting to public ?!...

NotFuzzyWarm,

I have no experience in designing chips, but for me it is very very interesting theoretical price of bitcoin ASIC.
I think for many bitcointalkers too.


Numbers from your article are saying nothing.
how many transistors are in this 28nm planar device or in 7nm soc ?

I can provide you info about russian quasi-CPU, each develop cost was +- 25mln usd.

baikal-m 28nm
die size 350mm2
transistors 3.5bln

elbrus-8c 28nm
die size 240mm2
transistors 2bln

so we have develop cost
71-104thousand usd per 1mm2 or per +-10mln transistors

hundreds thousands dollars, not hundreds millions.

it's 28nm technology, 5nm is more expensive.

***

Of course chip should be tested.
Fabs has special service called "shuttle". You can provide them design as low as 1mm2 and they will create chip for testing purposes.

https://europractice-ic.com/schedules-prices-2021/

GF 12nm 26000eur/1mm2
TSMC 28nm 9000eur/1mm2

Once again, we speak about thousands, but not millions dollars.

I can't find prices for 5nm shuttle. But I feel it will be in 100000eur/1mm2 region.

***

sha-256 core is very simple in design.
one-round need about 20k NAND gates or 80k transistors.
bitcoin uses two-round sha-256 = 160k transistors.

5nm has about 160mln transistors per 1mm2.

So for 1mm2 5nm design we just need to copy-paste 2000 sha-256 cores and design special control unit to synchronize theirs work.
It's really not hundreds millions dollars for such design.

That's all ! We don't need gigantic design such as 15mm*20mm. Such design of course can cost hundreds millions of dollars.

I see you was looking for electricity 1MW-20MW. I have solution, but it's in Europe.
With big volume(60MW+) price can go down to about 0.05usd per kwh.
It's legal solution intended for companies, but not personal usage.
There will be no any problems such as miners now have in Russia, Kazakhstan or Mongolia with banning and price increasing.

Please, write me personal message to discuss further.

Hello !

Let's say I want to create clone of Antminer S19j Pro 104TH/s 3068Watt
I think it's 5nm technology.

Let's discuss such details as:
1) minimal investments needed to create 5nm ASIC design
2) time from start to final product
3) tech specs for such design (how many transistors per 1TH/s and so on)
4) 300mm wafer price
5) other important questions

If there are similiar topics on bitcointalk, then please let me know.

***

To start discussion I will write some thoughts

Antminer S19j power consumption is 3068Watts
Let's compare it with 5nm AMD CPU.
For example AMD Ryzen 7 5800X has 4.15 billion transistors and consume 105Watts.

3068 / 105 * 4.15 = 121billion transistors for Antminer S19j. It's very rough estimations, but I think imprecision is about 10% +-

AMD Ryzen 7 5800X sale price is $449

1billion 5nm transistors price is 2.25usd
(source: https://cdn.wccftech.com/wp-content/uploads/2019/04/Screen-Shot-2019-04-19-at-7.41.30-PM-1480x516.png)

So AMD Ryzen 7 5800X prime price should be 4.15 * 2.25 = 9,3375usd (9dollars 34cents)
Antminer S19j prime price should be 121 * 2.25 = 272,25usd (272dollars 25cents)

By saying "prime price" I mean not final product, it's just wafer, wafer not cut to dies not packaged to chips and so on.

Thanks ! Sorry, I paid no attention to field structure. Before Your correction I was surprised that we can use only 7K gates for 256bits mod-mul.



In any case now we have such numbers for 256bits non-modular multiplying:
) school 130K gates
) Karatsuba 44K gates
) Bernstein 35K gates

In this article
https://homes.esat.kuleuven.be/~fvercaut/papers/bar_mont.pdf
I found info that mod-mul Barrett uses 33.15K gates, mod-mul Montgomery uses 33.4K gates.
These numbers related to field with anykind (2^(n−1) ≤ M < 2^n) module, but I am not sure that it's asynchronous(unrolled) schematic.

All this means, that initial j2002ba2 estimations can be lowered dramatically. (mine can be optimized of course too   Still going. )



Also I found article
http://www.bodrato.it/papers/WhatAboutToomCookMatricesOptimality.pdf
with formulaes to estimate Toom coefficients. But high-grade math terminology used. Could anyone help to estimate best Toom coefficients for 256bits ?!

I feel there's problem with complexity calculations. Usually formulaes are provided to calculate only the general, but not all logic. For example for School-algorithm formulae is O(n2). Using this formulae we can only calculate XOR gates = 65536, while additionaly we have the same number of AND gates.

What about toom coefficients, then in libtommath library I found such table:

Split into n Parts         Exponent         Notes
2         1.584962501         This is Karatsuba Multiplication.
3         1.464973520         This is Toom-Cook Multiplication.
4         1.403677461         
5         1.365212389         
10         1.278753601         
100         1.149426538         
1000         1.100270931         
10000         1.075252070         
5.2. MULTIPLICATION 105                  
Figure 5.6: Asymptotic Running Time of Polynomial Basis Multiplication                  

But that's theory, in practice we will have not such good results.

For example, here http://binary.cr.yp.to/m.html
provided info that
school = 130thousands gates
classic Karatsuba = 44thousands gates, while in theory there should 10times smaller than school results...

I think I found the answer.
There's article on http://binary.cr.yp.to/auth256.html indicating, that we can go to as low as to only 29*256=7424gates for 256bits mod-multiplication.

So we can use this number for estimations.