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Author Topic: Bitmain Antminer X3 -- 220KH+ Cryponight - 550W  (Read 18511 times)
squallw
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March 15, 2018, 06:20:35 PM
 #101

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.
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March 15, 2018, 06:21:19 PM
 #102

Hopefully after Monero fork to new algo the ASICs will be out of the game and mining Monero with GPU will be more profitable, which in turn will make all others GPU mining coins more profitable as the new algo XMR will attrack a bunch of GPU hashing power.  Win/Win for everybody (exept Bitmain and the X3 buyers).
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March 15, 2018, 06:24:05 PM
 #103

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.
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March 15, 2018, 07:09:33 PM
 #104

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.

In my opinion you are right. If no one knows about the release of a new ASIC they can mine away crazy amounts without anyone being any wiser. As soon as they mention they are going to sell it, devs will try and fork. I think they had these some time ago but now they know that a new fork is coming they are trying to sell them.

It will be interesting to see if how much hashpower will drop from monero and other popular coins like electroneum once they fork Smiley
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March 15, 2018, 07:29:44 PM
 #105

Pretty obvious they have been "testing" them for a while now too.
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March 15, 2018, 07:33:46 PM
 #106

I just built some rigs and this crap gets announced Cheesy arrgghh...rumors were indeed true. Hope eth forks.

ETH is not a cn coin.
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March 15, 2018, 07:36:24 PM
 #107

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

It's an even bigger nail in the coffin of CPU mining, since cn is one of the only profitable algos left there.

But either way, yes. If the ASICs can keep up with forks, then they will own the algo. But there is also the benefit of a saturated network, the available hash power means that a coin vying for the POS market (like etn) may benefit from the support of ASICs, at least for a while, so they may not WANT to fork (xmr will, of course).
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March 15, 2018, 08:20:00 PM
 #108

No one should consider 2MB of ram for PoW to be asic resistant at all these days.
Ultrascale+ FPGAs have enough internal memory to make this a joke. Plus on chip HBM2

Cryptonight PoW needs to increase the memory depth.
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March 15, 2018, 08:43:48 PM
 #109

I just built some rigs and this crap gets announced Cheesy arrgghh...rumors were indeed true. Hope eth forks.

ETH is not a cn coin.

They probably meant ETN (Electronium) which is the second-highest network hashrate CN coin - and like Monero they have announced they will be changing their algorithm and hard forking soon to implement the change.

These devices are no coffin nail in CPU mining, they're going to be expensive paperweights very soon now.


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March 15, 2018, 08:45:19 PM
 #110

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

It's an even bigger nail in the coffin of CPU mining, since cn is one of the only profitable algos left there.

But either way, yes. If the ASICs can keep up with forks

They won't.
It takes MONTHS to redesign an ASIC, get it validated, then get it into a production que.

They might TRY to do so once or twice, but I bet they fail and give up very quickly if they DO try that.


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March 15, 2018, 08:46:56 PM
 #111

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.

In my opinion you are right. If no one knows about the release of a new ASIC they can mine away crazy amounts without anyone being any wiser. As soon as they mention they are going to sell it, devs will try and fork. I think they had these some time ago but now they know that a new fork is coming they are trying to sell them.

It will be interesting to see if how much hashpower will drop from monero and other popular coins like electroneum once they fork Smiley
knc was mining with much of thier equipment , remeber the dator halls
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March 15, 2018, 08:47:53 PM
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 #112

Looks like a couple CN coins have already implemented the monero fork changes.  There may be nothing to mine with these when they arrive at people's doors.

You know this also has me thinking, if ETH or ZEC announced an imminent algorithm change hardfork, would we suddenly see some more previously unknown soon-to-be-worthless asics hit the market?
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March 15, 2018, 09:18:27 PM
 #113

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.

In my opinion you are right. If no one knows about the release of a new ASIC they can mine away crazy amounts without anyone being any wiser. As soon as they mention they are going to sell it, devs will try and fork. I think they had these some time ago but now they know that a new fork is coming they are trying to sell them.

It will be interesting to see if how much hashpower will drop from monero and other popular coins like electroneum once they fork Smiley
Absolutley my opinion is that 100% this is what has been going on. All CN coins should sporadically change algo's to battle against this then theyll leave us alone.
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March 15, 2018, 09:38:27 PM
 #114

I think it is good. The miner will push the prices for the cryptonight coins up. the difficilty will increase extremly. If you mined 300 etn per day you will mine only 3-5 in a few weeks. the price will go up. hold your mined coins and smile all day Smiley

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March 15, 2018, 09:40:39 PM
 #115

China Mining Co. Bitmain Shows Higher 2017 Profits Than US GPU Giant Nvidia, Report Finds
https://cointelegraph.com/news/china-mining-co-bitmain-shows-higher-2017-profits-than-us-gpu-giant-nvidia-report-finds

Big markup = big profits. Would probably be < $100/day by delivery. This has to be the riskiest ASIC offering to date. Shall we flip a coin before ordering?

This is going to make some AMD cards more affordable tho. Glad we bought Nvidia only.

Guess you haven't been paying attention... There will be nothing to mine with these CN ASICs. Monero is switch algo, along with other CN coins. They'll be completely useless.

Yes, you're right. And if that happens the biggest problem for those who buy it is how to recover their loss as they can't make any refund even a single cent of their $11999.

Quote
There are financial risks associated with mining cryptocurrencies. These risks can be related to changes in exchange rate of the cryptocurrency or to changes in the algorithm that is used to mine the cryptocurrency. Please deliberate well before making a purchase because we will not accept any requests for refund for orders of this batch.

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March 15, 2018, 09:42:20 PM
 #116

Pinidea have got a cn miner now too, 27kh at 350w ~4.5k. Who's next? Ibelink? This is x11 all over again, but possibly worse.

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March 15, 2018, 09:45:35 PM
 #117

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

It's an even bigger nail in the coffin of CPU mining, since cn is one of the only profitable algos left there.

But either way, yes. If the ASICs can keep up with forks

They won't.
It takes MONTHS to redesign an ASIC, get it validated, then get it into a production que.

They might TRY to do so once or twice, but I bet they fail and give up very quickly if they DO try that.



it will be interesting to see the first alt coin to hardfork and invalidate asics.  either way the asic manufacture will have made their money.  of course the ones left holding the bag will be all the buyers of bricked miners.   that kind of move may be a deterrent to bitmain and other manufacturers who have little regard for the ecosystems that they enter.  it may force the manufactures to be more participant in the various communities as opposed to invaders.

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March 15, 2018, 09:49:05 PM
 #118

I think it is good. The miner will push the prices for the cryptonight coins up. the difficilty will increase extremly. If you mined 300 etn per day you will mine only 3-5 in a few weeks. the price will go up. hold your mined coins and smile all day Smiley

I don't know why people operate under this misconception. Yes it has happened a couple of times, but, that was when coins were in a bull market already. Logically, and it happened with SIA, the faster miners are reaping rewards, the more supply is driven to the market. That drives prices "down" not "up". Especially when  said "miners" are trying to recoup huge hardware costs.
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March 15, 2018, 09:50:49 PM
 #119

There are 0 reasons for algorithms not changing.

I believe most CryptoNight active dev team coins will change their algo.

Monero announced they would and so did Graft
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March 15, 2018, 10:15:36 PM
 #120

Coins will adapt, I doubt bitmain is going to have a great success with this one...or maybe they will but not the buyers.  Its hard to justify the price, but it seems bitmain prices its ASICS at least initally at around 60 days ROI without electric.

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