Wake up people and dont buy asics

[Deners]

Bitmain is not just selling the asic miners for the non asic resistant coins they are also mining at the same time the non asic resistant coin with the hardware much more stronger then what they are selling at the market, these way they profit from the coin twice by mining it and by selling hardware to people who want to buy it. By doing so they can manipulate the prices of the coin itself by adding their super powerfoul hardware to mine coin whenever there is a price jump of the coin and they can manipulate the prices of their hardware , they will keep the stronger hardware to themselfs and they will release weaker hardware to masses, and that way they will always be able to release new stronger asics for the specified coin and making the older asics ussles, and people will have to buy the new stronger asic miners or fall behind. These all cant be done with gpu-s mining. In gpu mining new more powerfoul hardware is coming slowly and they cant replace your weaker gpu that easily. That is if gpu-s ever become profiteable again.

[Metroid]

The problem is not the people who buy asics, the problem is developers who allow asics.

[Kumic]

Some Asics suddenly pop out on the market like they are magically produced or something.
Exploiting those rigs before selling them wouldn't be a surprise for me.

[Marvell2]

Bitmain is not just selling the asic miners for the non asic resistant coins they are also mining at the same time the non asic resistant coin with the hardware much more stronger then what they are selling at the market, these way they profit from the coin twice by mining it and by selling hardware to people who want to buy it. By doing so they can manipulate the prices of the coin itself by adding their super powerfoul hardware to mine coin whenever there is a price jump of the coin and they can manipulate the prices of their hardware , they will keep the stronger hardware to themselfs and they will release weaker hardware to masses, and that way they will always be able to release new stronger asics for the specified coin and making the older asics ussles, and people will have to buy the new stronger asic miners or fall behind. These all cant be done with gpu-s mining. In gpu mining new more powerfoul hardware is coming slowly and they cant replace your weaker gpu that easily. 

Im fully woke now , done with asics idgaf how profitable they are

[togoshigekata]

What coins are ASIC-Resistant?

Vertcoin
Grosetlcoin
BiblePay

[Suslived]

Don't you mean "wake up people and just buy the coin. don't mine!"

Mining is not profitable now because every tom dick and harry has gotten into it. I'm partly happy that the newbie miners are shaken off the tree and are shutting off their rigs. First come first serve bros. Then again, it would be better if the veteran mining farms leave so that we have more decentralization too.

[LTCMAXMYR]

and do not buy any ASIC altcoins.

ASIC cannot secure the altcoins, an emergency update will fix it.

dev allow ASIC,means they changed there faith,not trust-able again.

buy ASIC altcoins = help traitors  = price drop =you lost money

but ASIC =help shitmain = you lost money

[norminorm]

+1 smart comments and suggestions

[jillscarbrough]

I woke up now, let them do what they want. And we can be doing something else than judge the other, let's move on guys. This condition happened to Bitcoin, before. And look at around, we still here and we fine right.

[senseless]

What I enjoy is developers who are completely oblivious to the fact they have a problem. There was a monero thread on github back in december. It was like talking to a wall.

These are our assumptions and they are  our scripture. We will stand by our assumptions until we get smacked in the face by asic sales.

[RYXES]

What I enjoy is developers who are completely oblivious to the fact they have a problem. There was a monero thread on github back in december. It was like talking to a wall.

These are our assumptions and they are  our scripture. We will stand by our assumptions until we get smacked in the face by asic sales.

Money/greed makes people stubborn unfortunately.

[B1tUnl0ck3r]

The problem is not the people who buy asics, the problem is developers who allow asics.

+1 like the dash scumbags...

[dhouse]

the whole thing wouldn't be a problem if there was legitimate, non-corrupt (meaning no secret mining) competition to bitmain. that might happen eventually.

[N2DCRYPT]

the whole thing wouldn't be a problem if there was legitimate, non-corrupt (meaning no secret mining) competition to bitmain. that might happen eventually.

I'm not sure that would solve it... Every average nerd has a gpu, ASICs are in the hands of much less, often heavily concentrated in a few hands. If you're looking for decentralization and mass adoption, ASICs won't get you there. Which is why every ASIC always piggy-backs off communities with GPUs who build up the adoption and value of the network.
Only after this foundation is laid do the ASIC manufacturers swoop in and, like vultures, scavenge all the profits. At that point, you better hope there's significant adoption, because at that point your new Average GPU Joe is no longer interested or incentivized.

And, at that point, better hope your adoption and interest outpaces your ASIC farmers, or your network value will flatline as coins are dumped to the highest common denominator. Unless of course you get the P&D's from ASIC Miner bag holders like we see with BCH.

Not to mention that it provides several figureheads for targeting the network by an outside enemy. You think govt's like Monero? Oh and Bitmain's got 70% of the network? Oh it's okay... I'm sure Bitmain is completely uncompromised by the Chinese govt.

[dhouse]

the whole thing wouldn't be a problem if there was legitimate, non-corrupt (meaning no secret mining) competition to bitmain. that might happen eventually.

I'm not sure that would solve it... Every average nerd has a gpu, ASICs are in the hands of much less, often heavily concentrated in a few hands. If you're looking for decentralization and mass adoption, ASICs won't get you there. Which is why every ASIC always piggy-backs off communities with GPUs who build up the adoption and value of the network.
Only after this foundation is laid do the ASIC manufacturers swoop in and, like vultures, scavenge all the profits. At that point, you better hope there's significant adoption, because at that point your new Average GPU Joe is no longer interested or incentivized.

And, at that point, better hope your adoption and interest outpaces your ASIC farmers, or your network value will flatline as coins are dumped to the highest common denominator. Unless of course you get the P&D's from ASIC Miner bag holders like we see with BCH.

Not to mention that it provides several figureheads for targeting the network by an outside enemy. You think govt's like Monero? Oh and Bitmain's got 70% of the network? Oh it's okay... I'm sure Bitmain is completely uncompromised by the Chinese govt.

yeah you're probably right. just hard to imagine that asics - or something faster than gpus - can be avoided. i guess we'll see.

[john1010]

When you begin to look and analyze in different angle, there's always a business monopoly involve in the mining industry. They need to do some gimmick and strategy to make a huge profit... Just my thoughts..

[CryptoPlay]

The problem is not the people who buy asics, the problem is developers who allow asics.

+1 Miners must pay more attention to the importance of decentralization.
Monero DEV team just teaches everyone the way to be follow.
It can be done with more coins IF they are really serious coins and not just another scam.

[edwardceng]

Actually, developers, manufacturers, and marketing have succeeded in creating a dilemma in mining and miners have a lot of perceptions. The ASIC industry has successfully "tested on the water" of their products and saw the people reactions involved in cryptocurrency.

[swogerino]

Usually the people who buy asic miners buy them to mine heavily the coin they want to mine. They think that owning an asic miner is better as it gives greater profitability. While this maybe the case , it is true only in the beginning because as soon as many miners hit the market the difficulty skyrockets and within 3-6 months this devices are almost out of play. I prefer to mine with grahic cards and I like wha Monero devs have done to stop asics.

[edwardceng]

Usually the people who buy asic miners buy them to mine heavily the coin they want to mine. They think that owning an asic miner is better as it gives greater profitability. While this maybe the case , it is true only in the beginning because as soon as many miners hit the market the difficulty skyrockets and within 3-6 months this devices are almost out of play. I prefer to mine with grahic cards and I like wha Monero devs have done to stop asics.

sometimes, they can not think of opportunities when their device (ASIC) no longer has a profit and resale value this is different from Mining Rig at least GPU can play the game if no longer have the advantage or can sell it.