[ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏

[burster51]

really? back to cryptonight and ASICs? Have you not followed what happened to Electroneum? They had the attack and then were forced to fork the ASICs off (is just happening).

I can understand that you would like to move away from CN-heavy, it uses too much resources on the mining side, why not move to IPBC/BITTUBE or other variant on CN-lite? Or if you like the 2MB scratchpad, why not CN7?

[dingdongtobias]

really? back to cryptonight and ASICs? Have you not followed what happened to Electroneum? They had the attack and then were forced to fork the ASICs off (is just happening).

I can understand that you would like to move away from CN-heavy, it uses too much resources on the mining side, why not move to IPBC/BITTUBE or other variant on CN-lite? Or if you like the 2MB scratchpad, why not CN7?

or even better something new, original, they can call their own ?

[burster51]

I agree, the new can come with the rebranding.

But for now it is probably better to keep the ASICs out of the picture, there are hundreds of them waiting to mine something juicy such as SUMO and obliterate the network

[Alejandur]

really? back to cryptonight and ASICs? Have you not followed what happened to Electroneum? They had the attack and then were forced to fork the ASICs off (is just happening).

I can understand that you would like to move away from CN-heavy, it uses too much resources on the mining side, why not move to IPBC/BITTUBE or other variant on CN-lite? Or if you like the 2MB scratchpad, why not CN7?

or even better something new, original, they can call their own ?

+1

[maxeprom]

really? back to cryptonight and ASICs? Have you not followed what happened to Electroneum? They had the attack and then were forced to fork the ASICs off (is just happening).

I can understand that you would like to move away from CN-heavy, it uses too much resources on the mining side, why not move to IPBC/BITTUBE or other variant on CN-lite? Or if you like the 2MB scratchpad, why not CN7?

They said "We believe in Decentralization ASICs bring to a Cryptocurrency since they are a vital part of the eco system.
                …and this could provide only good for Sumo."

So, Sumo Team *wants* ASICs

[jpdorn]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

[maxeprom]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

The point is ASICs are not intended to secure netowrks, and furthermore tend to centralize.
Not to mention the impairment to small miners.

PS. I mine SUMO, now, not sure I should hold them 

[Alejandur]

https://medium.com/sumokoin/all-truth-and-fud-on-sumokoin-project-7af6d1a03eb0

Very interesting reading with info about what has happened and the future.

As a little miner, I would like to say that I don't like the idea of ASIC's. I prefer a new algorithm ASIC resistant.

Regards

[garantie]

...As a little miner, I would like to say that I don't like the idea of ASIC's. I prefer a new algorithm ASIC resistant.

Regards

+1

What about CN 7 (like Monero) ??

[gfox72]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

It's a very smart decision and signs of vision for future and good management decisions. Of course you'll upset all the hobbyist GPU miners but they have plenty of other coins to work at. We'll tell in a couple of years if ASICs were a bad thing for crypto networks ...

[Alejandur]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

It's a very smart decision and signs of vision for future and good management decisions. Of course you'll upset all the hobbyist GPU miners but they have plenty of other coins to work at. We'll tell in a couple of years if ASICs were a bad thing for crypto networks ...

I like using the coin for transactiins so I want all the best for it. If experts think that using ASICs is the best option, that's good for me. As a hobbyist miner I don't have a clue about what is better, GPUs or ASICs.

[garantie]

.... If experts think that using ASICs is the best option, that's good for me. As a hobbyist miner I don't have a clue about what is better, GPUs or ASICs.

Haha, maybe you need experts to tie your shoes too 

[Alejandur]

.... If experts think that using ASICs is the best option, that's good for me. As a hobbyist miner I don't have a clue about what is better, GPUs or ASICs.

Haha, maybe you need experts to tie your shoes too 

Thanks for the offering but I'm perfectly able to lie my shoes by myself.
What I wanted to say is that I don't know nothing about cryptocurrencies economy and the thechnical things so I'm not able to choose between ASICs and GPUs for avoiding attacks and for the market.

[Skyzer0]

https://twitter.com/sumokoin/status/1002422506530037760

Sumo changing back to Cryptonight algorythm to allow asics to mine them, do they not know bitmain runs 220 kh/s asics? 220 kh/s, one of these https://www.cryptocompare.com/mining/bitmain/antminer-x3/


has the same performance as around 250 RX580's with custom bios and this thing uses 500 watt, unlike 250 GPU's which will eat up how much? man this is a joke selling my sumo right now.

[Skyzer0]

Any reason sumo cant change to Cryptonight V7 ? i just sold my sumo good luck with this bs, if everyone sells sumo now it will die off and when miners are earning Nothing due to asics ite definetely gonna be abandoned.

[jpdorn]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

The point is ASICs are not intended to secure netowrks, and furthermore tend to centralize.
Not to mention the impairment to small miners.

PS. I mine SUMO, now, not sure I should hold them 

Im glad u mining it, but ASICs cryptocurrency miners are high-efficiency, so i can consider them 1000x better to secure a network. Also sorry to dissapoint you, but decentralization is a hoax, no ones give a single f888 for this, as long as the network are working 100% perfectly.

[dtr]

PS: At the time of writing, WalletInvestor lists SUMOKOIN with rating E (possible values: A+, A, B+, B, C, D, D-, E, E-).

This point particularly is nothing serious. I just checked half a dozen low level cap currencies - they all have E or E- ratings.

[Steven363]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

It's a very smart decision and signs of vision for future and good management decisions. Of course you'll upset all the hobbyist GPU miners but they have plenty of other coins to work at. We'll tell in a couple of years if ASICs were a bad thing for crypto networks ...

I like using the coin for transactiins so I want all the best for it. If experts think that using ASICs is the best option, that's good for me. As a hobbyist miner I don't have a clue about what is better, GPUs or ASICs.

It's not hashrate that secures a network it's decentalization.

If the hashrate is sky high yet controlled by one entity it's easy to 51% attack that network. If instead you have low hashrate but in disparate places it will be hard to attack it, esepcially if high hashrate devices cannot mine.

The monero network for example has 1/3rd of its peak hashrate yet is much more secured. No one entity is controlling its hashrate (like before) and there is not enough rented power to mount an attack to it.

The only way to attack the monero network for relatively cheap is to be the owner of one of its biggest pools and then *add* several million worth of equipment to your pool and then attack it. It's almost impossible.

By comparison all you need to attack bitcoin (for example) is to brick most of its miners via this method or similar: https://www.antbleed.com and proceed to attack.

Asic miners is the gaping hole in blockchains' security. Unless bitcoin becomes asic resistant it will never be secure from a technical standpoint. It is only secure from a game theoretical stand point... for the rime being.

Sumokoin just killed itself.

[wudafuxup]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

The point is ASICs are not intended to secure netowrks, and furthermore tend to centralize.
Not to mention the impairment to small miners.

PS. I mine SUMO, now, not sure I should hold them  

Im glad u mining it, but ASICs cryptocurrency miners are high-efficiency, so i can consider them 1000x better to secure a network. Also sorry to dissapoint you, but decentralization is a hoax, no ones give a single f888 for this, as long as the network are working 100% perfectly.

You have no idea what you're talking about if you think having a high network hash means a coin is secure. ASIC coins are much more prone to 51% attacking than GPU coins are. ASICs literally split Bitcoin into 2 coins because the ASIC concentration was so strong by a few entities (This is what centralization gives you).

You can rent 100Mh/s of CN power for 24hours for only 1 BTC.

Look at the fucking marketplace ffs. There are people ordering multiple 100Mh/s+ orders already. There is some guy trying to buy a 300Mh/s order. Fuck this shit sumokoin will be another dead coin just like Bipcoin lol

Yes ASICs are inevitable, but it's far too soon with Bitmain having most of the control.

[jpdorn]

If they change to ASIC and bitmain can use their recently launched cryptonight ASIC to secure the network, i guess its not a bad idea at all.
PS: I dont hold any SUMO.

The point is ASICs are not intended to secure netowrks, and furthermore tend to centralize.
Not to mention the impairment to small miners.

PS. I mine SUMO, now, not sure I should hold them  

Im glad u mining it, but ASICs cryptocurrency miners are high-efficiency, so i can consider them 1000x better to secure a network. Also sorry to dissapoint you, but decentralization is a hoax, no ones give a single f888 for this, as long as the network are working 100% perfectly.

"You have no idea what you're talking about"
"literally split Bitcoin into 2 coins"

REEEEEEEEEEEEEEEEEEEEEEE

ASIC coins are much more prone to 51% attacking than GPU coins are.

In theory yes, but what we've seen shows that crypto is about profitability and not theory e.g., bitcoin gold -equihash coin- attack. Bitcoin Gold hashrate chart shows no anomaly, so why they attacked it?
Still not conviced ASICs are devil-ish