ASIC mining reasons Destroying future value of ZCash (ZEC) ?

[crestella]

ASIC Mining Destroying future value ZCash - ZCash (ZEC) has made a big announcement, and miners are not impressed at all. They have announced that Bitmain has released ASIC miners that can be used to mine ZCash. In various forums, miners seem to take up arms against this. The most cited reason is that, this will concentrate mining power in some big companies. With such a move, ZCash can end up like bitcoin where the mining power is concentrated in the hands of several mining companies. The only difference is that bitcoins already have very high volumes, making it more difficult for any entity to manipulate the price. For low cap crypto like ZCash, price manipulation will be very easy with centralized mining.

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[madnessteat]

I was very disappointed when I heard that release a miner for the extraction of ZEC. It will be very good if the ZEC team changes the algorithm to support miners on GPU and altcoin decentralization.

[QuantumProofGhost]

ASIC Mining Destroying future value ZCash - ZCash (ZEC) has made a big announcement, and miners are not impressed at all. They have announced that Bitmain has released ASIC miners that can be used to mine ZCash. In various forums, miners seem to take up arms against this. The most cited reason is that, this will concentrate mining power in some big companies. With such a move, ZCash can end up like bitcoin where the mining power is concentrated in the hands of several mining companies. The only difference is that bitcoins already have very high volumes, making it more difficult for any entity to manipulate the price. For low cap crypto like ZCash, price manipulation will be very easy with centralized mining.

It is going to be a very tedius process to procure them in masses since it is one order per person assuming Bitmain honors this. This results in a prospecting mining farm operator to know a lot of people to order these through, along with snatching them up on Ebay for more than market value for the miners.

[peteris-apse]

Bitmain asics are mining zcash for long time. Long before anouncing new asics.

[tg88]

Bitmain asics are mining zcash for long time. Long before anouncing new asics.

I agree, but now the amount that will go into operation will be much larger.

[fanatic26]

Whats wrong with a ZEC asic?

10k sols = about 24 GTX 1070s at stock settings.

24 GTX 1070s at stock settings use ~3600 watts + 100w for the rest of the machine.

ZEC asic = 300 watts.

So you need $10,000 worth of parts to make the same hashrate and you burn 12x the power.

This will be a nice quiet machine you can run in any home off any cheapo ATX power supply.

This is a win/win for anyone wanting to mine equihash without breaking the bank.

You can also take this misinformed idea that ASICs promote centralization when that is so not the case. This machine makes it easy for anyone to get into mining without the complications of multiple unreliable GPU rigs.

[philipma1957]

Whats wrong with a ZEC asic?

10k sols = about 24 GTX 1070s at stock settings.

24 GTX 1070s at stock settings use ~3600 watts + 100w for the rest of the machine.

ZEC asic = 300 watts.

So you need $10,000 worth of parts to make the same hashrate and you burn 12x the power.

This will be a nice quiet machine you can run in any home off any cheapo ATX power supply.

This is a win/win for anyone wanting to mine equihash without breaking the bank.

You can also take this misinformed idea that ASICs promote centralization when that is so not the case. This machine makes it easy for anyone to get into mining without the complications of multiple unreliable GPU rigs.

the bold is wrong  my equihash has 99% uptime with gpu's my gpu gear has 3 year warranty from real companies like evga msi intel corsair. my gpu's have resale value.

and they still earn money on equihash.



one more thing

 buy that asic and have then zcash/dev change algo on July 1 with the simple statement we wanted to fuck asic buyers hard so screw off you piece of shit asic miners.  We lied on purpose to suck in morons to buy asics that we bricked .   We don't need your stinking asics


Now between you and me I doubt this happens but there is zero liability from bitmain if it happens.


So do you feel lucky?

[whoismoses]

So do you feel lucky?

I mostly agree with you. I replied to a similar response from you in another thread and made the statement that the Z9 was my first asic and I am a bit ashamed. I wish I never bought it. I've already started making money on it cause I bought it with with BTC at $9850 and repurchased my BTC at around $9100... I was smart enought to not by their PSU since it only needs 300w.... But yes, I wish I never bought it. I hope they fork and I lose my money and learn my lesson...

But as for do I feel lucky? Come one, this whole business is a gamble... from what cards to buy, what coins to mine... what to hold, what to sell... what pool to use, should you buy that open box gpu? the list goes on...

$1999 for 10000 sols/s @ 300w isn't a super big gamble. Now, for those who are buying 50... they got some balls... and I hate them.

[Kalyst69]

 we wanted to fuck asic buyers hard so screw off you piece of shit asic miners. 

So in fact you don't want to fuck ASICs but ASIC buyers ?
But don't worry, ASICs are not the main problem of GPU, the problem for GPU mining is ETH POS. Just think one minute where all these GPU that mine ETH will go after POS ? Not on Bitcoin, Litecoin, SIA and others. They will go on Equihash and Cryptonight. Higher difficulty, less revenues... just add a crash on the market cap and a lot of GPU miners will die.
I stopped all investments in GPU since some months and buy only ASICs. ASICs, if you buy the first batch you ROI in 3-4 months, you cannot with GPU

[toptek]

ASIC Mining Destroying future value ZCash - ZCash (ZEC) has made a big announcement, and miners are not impressed at all. They have announced that Bitmain has released ASIC miners that can be used to mine ZCash. In various forums, miners seem to take up arms against this. The most cited reason is that, this will concentrate mining power in some big companies. With such a move, ZCash can end up like bitcoin where the mining power is concentrated in the hands of several mining companies. The only difference is that bitcoins already have very high volumes, making it more difficult for any entity to manipulate the price. For low cap crypto like ZCash, price manipulation will be very easy with centralized mining.

trying to tell others that is like pulling teeth you just give up . all they see is $$ signs or the fast buck so what if it fucks everything up no respect .

[Goool]

Support the Chinese Asic companies and you will see the results in some years !!
ASIC for all the coins they will make if they will continue to get rich ....
And the worst think is their strategy, when everyone will have their ASIC they will just make newer ASICS with 10x the speed of the old one and you will be forced to sell your old one and buy their new one ....

Chinese business without warranty !! 30 days and 90 days warranty is nothing ,,,,,

Bitmain Launches Asic for ... ZEC
Bitmain Launches Asic for ...ETH
Bitmain Launches Asic for ... Shitcoin ...
Bitmain Launches Asic for ...
Bitmain Launches Asic for ...

[toptek]

Whats wrong with a ZEC asic?

10k sols = about 24 GTX 1070s at stock settings.

24 GTX 1070s at stock settings use ~3600 watts + 100w for the rest of the machine.

ZEC asic = 300 watts.

So you need $10,000 worth of parts to make the same hashrate and you burn 12x the power.

This will be a nice quiet machine you can run in any home off any cheapo ATX power supply.

This is a win/win for anyone wanting to mine equihash without breaking the bank.

You can also take this misinformed idea that ASICs promote centralization when that is so not the case. This machine makes it easy for anyone to get into mining without the complications of multiple unreliable GPU rigs.

and for how long do you think Butmain or Innosilicon ( don't forget about them larking in the dark ) . will allow it to be used in the Homes and once they totally destroy mining ZEc or any kind of ant coin mining in the home what next, from what i heard 68 db doesn't sound to nice quiet to me . the S5 was quieter once you replaced both fans .

the PSU right now you can buy off eBay for about 20 bucks if that, break out board might cost 7 bucks that turns it on and cables another 3 bucks each. I 'm sure il end up buying one of these if they go over good once the price drops a lot for the hell of it .

all so everyone seems to forget AMD and NV are about to come out with a new line of 7 nm and 12 nm cards . that might blow this away .

philipma1957

was right one time i see when he said GPU might become a threat to ASIC and it did it seems while others told him no way .

[toptek]

Support the Chinese Asic companies and you will see the results in some years !!
ASIC for all the coins they will make if they will continue to get rich ....
And the worst think is their strategy, when everyone will have their ASIC they will just make newer ASICS with 10x the speed of the old one and you will be forced to sell your old one and buy their new one ....

Chinese business without warranty !! 30 days and 90 days warranty is nothing ,,,,,

Bitmain Launches Asic for ... ZEC
Bitmain Launches Asic for ...ETH
Bitmain Launches Asic for ... Shitcoin ...
Bitmain Launches Asic for ...
Bitmain Launches Asic for ...

that's the problem and why i like using GPU they suck you in then they got yea then they leech off you and make it look like there the good guys while all the time there laughing behind your back and enjoying your hard work . an they do all most nothing and pay even less to make there hard ware .. i read some place if you live china it costs no were near what it cost us to buy this shit outside china .

and what does that all sound like hint look at the ASS hole running the US and his side kick Republicans and his 45 % useless base edging him on ...  Nov 2018 is coming i just hope they do the right thing once there back in power for the people .

[hanskan]

Whats wrong with a ZEC asic?

10k sols = about 24 GTX 1070s at stock settings.

24 GTX 1070s at stock settings use ~3600 watts + 100w for the rest of the machine.

ZEC asic = 300 watts.

So you need $10,000 worth of parts to make the same hashrate and you burn 12x the power.

This will be a nice quiet machine you can run in any home off any cheapo ATX power supply.

This is a win/win for anyone wanting to mine equihash without breaking the bank.

You can also take this misinformed idea that ASICs promote centralization when that is so not the case. This machine makes it easy for anyone to get into mining without the complications of multiple unreliable GPU rigs.

the bold is wrong  my equihash has 99% uptime with gpu's my gpu gear has 3 year warranty from real companies like evga msi intel corsair. my gpu's have resale value.

and they still earn money on equihash.



one more thing

 buy that asic and have then zcash/dev change algo on July 1 with the simple statement we wanted to fuck asic buyers hard so screw off you piece of shit asic miners.  We lied on purpose to suck in morons to buy asics that we bricked .   We don't need your stinking asics


Now between you and me I doubt this happens but there is zero liability from bitmain if it happens.


So do you feel lucky?

Wow - ASIC for ZEC, wasn't it supposed to be ASIC-proof ? And I'm pretty sure some ZEC developer say that they will switch to POS rather than let ASICs mine ZEC

[m.vina]

I was very disappointed when I heard that release a miner for the extraction of ZEC. It will be very good if the ZEC team changes the algorithm to support miners on GPU and altcoin decentralization.

Don't know if you guys just haven't read the news but, Zcash devs have made it clear that they will make Zec's ASIC resistance an "immediate technical priority." Wait till the news hits the fan. ZEC value will probably rise in the coming days. Could be a good opportunity to buy some today.

My source: https://www.ccn.com/zcash-foundation-to-make-asic-resistance-immediate-technical-priority/

[philipma1957]

I was very disappointed when I heard that release a miner for the extraction of ZEC. It will be very good if the ZEC team changes the algorithm to support miners on GPU and altcoin decentralization.

Don't know if you guys just haven't read the news but, Zcash devs have made it clear that they will make Zec's ASIC resistance an "immediate technical priority." Wait till the news hits the fan. ZEC value will probably rise in the coming days. Could be a good opportunity to buy some today.

My source: https://www.ccn.com/zcash-foundation-to-make-asic-resistance-immediate-technical-priority/

Did I get to say told you so to those that spent hard cash on the z9

[Kalyst69]

Did I get to say told you so to those that spent hard cash on the z9

Doesn't mean they will not have their ROI. Monero meets some problems since the fork so I'm not sure that a quick fork is a good idea.
Also it's written on Zcash foundation website that they are developing ASIC resistance as an option. They will first investigate. So for me it's not before some months
The message here is more clear :
https://z.cash.foundation/blog/statement-on-asics/

[toptek]

I was very disappointed when I heard that release a miner for the extraction of ZEC. It will be very good if the ZEC team changes the algorithm to support miners on GPU and altcoin decentralization.

Don't know if you guys just haven't read the news but, Zcash devs have made it clear that they will make Zec's ASIC resistance an "immediate technical priority." Wait till the news hits the fan. ZEC value will probably rise in the coming days. Could be a good opportunity to buy some today.

My source: https://www.ccn.com/zcash-foundation-to-make-asic-resistance-immediate-technical-priority/

Did I get to say told you so to those that spent hard cash on the z9

LMAO go for it ... I would ......