[XMR] Monero - A secure, private, untraceable cryptocurrency

[Hueristic]

Scypt was the first to thwart ASIC's.

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

YEAH, Only about 3 years when the scams started showing that ripped everyone off and then the real ones hit the market. that is a eternity in this game. LTC started in 2011.

A PoS fork of monero would be interesting, especially for botnet operators?

What kind of drugs are you doing and can I have some? On second thought mine are pretty heavy and probably work better.

According to my memory, watched some interview on youtube long ago, one of these was dedicated Scrypt which made me wonder if scrypt-ASICs only, since at that point in time these didn't dominated the reseller market, has all been GPUs.
Probably 1/8 of these buildings only GPU, 7/8 only Bitcoin, on that picture.
To my knowledge they mined BTC and LTC as a sort of hedge. Influenced my investment strategy, horted 1 LTC along each BTC, too.

I doubt they are running ANY GPU's now. they have ASICS for everything profitable. They are more than likely powerbound there.

Now digging out Ethereum "Classic" how well they did overall, there has been classic conferences and stuff, it's even been mentioned inside Vitalik's last twitter live stream
Hedging each classic variant along with the work-in-progress "original" ? Seems sane to do so.

THERE can be no comparison between the 2 and anyone doing so is ill informed at best. THEY made their chain MUTABLE, do you understand what that means?

What is keeping the ASIC price/distribution so prohibitive? I would think the necessity of cheaper versions of these machines in the long-run for PoW survival would’ve incentivized more competition by now. If someone doesn’t come up with a way to break Bitmain’s monopoly soon, PoS is going to exploit this situation and become dominant. I agree the slash-and-burn strategy is the most effective method for now, but eventually you have to open up a supply line and go on offense.

PoS dominancy could originate from ETH miners switching over to XMR one day. As a niche segment the last die hard POW coin project could have a significant lifetime left, still.
On a long enough timeline ... but who can do forecasts lasting 2 monthes in crypto, right?

And this directly conflicts with your first statement, you can't have 2 diametrically opposed views in consecutive posts and expect to be taken seriousley. 2 months is a long time yet 3 to 4 years is not?? WTF are you talking about. You sound like a person with an Agenda and thats gonna get called out real fast here.

[graysoon]

what guys I have just seen the global hash rate start to go down again, i think we have hit the new threshold

[FloppyPurpleGherkin]

I wonder where that unknown 16% (80 MH) is coming from? oO

[jwinterm]

I wonder where that unknown 16% (80 MH) is coming from? oO

Some big eth miner jumping ship.

[genitbd13]

Monero is a bright future coin

 Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses
 
 A user needs client software, a so-called wallet, to interact with the Monero network. The Monero Project produces the reference implementation of a Monero wallet and there are also third party implementations of Monero clients exist such as Monerujo which also make it possible to use Monero on Android.

[Anon136]

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

A PoS fork of monero would be interesting, especially for botnet operators?

Shouldn't it be, at least theoretically, possible to make a hashing algorithm for which a standard PC is its ASIC? Maybe we will get there one day. Or maybe new algorithms will be developed that get closer and closer every year.

[0xcosmos]

what guys I have just seen the global hash rate start to go down again, i think we have hit the new threshold

wont last much long
when miners mining other coins will see more profitability
they will jump to monero

[cokroalif]

Monero is a bright future coin

 Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses
 
 A user needs client software, a so-called wallet, to interact with the Monero network. The Monero Project produces the reference implementation of a Monero wallet and there are also third party implementations of Monero clients exist such as Monerujo which also make it possible to use Monero on Android.

when sliding first they must have more network that qualified, therefore monero very easy when do project continuously in this time

[Hueristic]

Which did not lasted all to long. It seems each and every algo is ASICifyable, a company in possession of these capabilities will for sure dominate the whole crypto bussiness until PoS replaces POW.

A PoS fork of monero would be interesting, especially for botnet operators?

Shouldn't it be, at least theoretically, possible to make a hashing algorithm for which a standard PC is its ASIC? Maybe we will get there one day. Or maybe new algorithms will be developed that get closer and closer every year.

Yes and was about to post how until I realized I am keeping that info to myself. Lol

Basically an asic is just what it says Application Specific, so in other words it is a stripped down cpu that just has the bear bare (freudian slip?) metal to do the Specific operation that is needed. Therefor nothing that is designed to do more than that specific operation can compete with it as it adds realestate as well as pathways thermal overhead and a host of other roadblocks that are insurmountable unless you can break the laws of physics.

[e-coinomist]

Shouldn't it be, at least theoretically, possible to make a hashing algorithm for which a standard PC is its ASIC? Maybe we will get there one day. Or maybe new algorithms will be developed that get closer and closer every year.

Yes and was about to post how until I realized I am keeping that info to myself. Lol

Boolberries Scratchpad, including the SSD into the mining. Base principle to add SSD, GPU, CPU into the hashing process. If some entitiy manages to create some ASIC brick including all these components, they basically have rebuilt the PC.

Nope, actually no clue. Got woken up by these recent events, now looking for information details. Everything looked nice and fluffy a month ago, and these forks hadn't been announced anywhere. Or did they do beforehand, somebody got a link maybe?
Ethereum "classic" coming as the best reference for POW chain forks that did not expire in a short timespan. Take a comparison look at Bitcoin Gold.

Are they running GPUs, that's a bigger concern - none of the video footage I've ever seen merely hinted upon motherboard wirings and GPU setups. Pictures of single rigs, hobbyist style, do exist. Sometimes even shelfes, garage sized. But not inside that country, not that scale.
They could have afforded to invest into the very same type of technology as their average competition does, as a "just in case" investment. But some depictured would have leaked. Can a secret of that scale stay unveiled?

Ideally, traditional GPU miners should look out for their own supply chain of asic manufactoring. An open source design chip, similar for SHA hashing has been tried. To level the field. There's the crux, this seems to be impossible.

Is "3 years" development and production time somehow observable in this case? Hashrate history diagrams show the timespan of mining gear in productivity, but not their total time of existance.
More serious, drop in hashrate depicts their fair share of coin supply so far, timespan * hashrate-share * emission, and these numbers are just horrible. Nothings as in even distribution does exist if a single entity rapes a XX% (upper double digits) share. How would the resulting rage dump figure out, if somebody spoiled their game?


Conclusion: This is the right time to start mining Monero. And the day to dump all cold store was some days ago. Buying back in is ? weeks ahead from today. Bear with it!


Disclosure: I have a personal Agenda, like in making money, doing crypto, something I can call out on my own. You seem pretty pissed by these recent events? That's just average, most probably nobody was amused.

[e-coinomist]

ASICS kill botnets, as has been seen on Bitcoin.

Botnets have to get differentiated into two branches, the classical ones and javascript powered miners that run inside a browser window.
Since ASICS got killed for at least the next several monthes, isn't it the right time to advertise browser mining somewhat more?
It's advertising bussiness (site visitors reek revenue for the site), just people don't get their screen cluttered with advertisements for stuff they never intend to even buy.

Two drawbacks. Advertisements can (possible) reek in an unlimited revenue, whereas browser mining is severely (hard) capped. Classical botnets are competitors who just might reap the bigger slice of the pie.

[Hueristic]

Boolberries Scratchpad, including the SSD into the mining. Base principle to add SSD, GPU, CPU into the hashing process. If some entitiy manages to create some ASIC brick including all these components, they basically have rebuilt the PC.

And hence no advantage with net loss.

Disclosure: I have a personal Agenda, like in making money, doing crypto, something I can call out on my own. You seem pretty pissed by these recent events? That's just average, most probably nobody was amused.

Correct, this was foreseen many years ago and should have been ready to go. It's not that I care about the price that much as I hold very little it's that because of this the security of the chain has been weakened.

It should have been announced and immediately added at various points just to stop anyone from believing they could profit from it and as it so happens they did profit so it was worth it so they will do it again. Just like bankers will continue to defraud people because they are rewarded for it.

Disclaimer: If I make money here good but it is not my reason for being here. My time is worth much more than what I acquire on these forums.

[Xianantung]

what guys I have just seen the global hash rate start to go down again, i think we have hit the new threshold

wont last much long
when miners mining other coins will see more profitability
they will jump to monero

I just found the profitability of mining ETH and XMR is same now. Both are good for AMD cards.

[Jpti]

Is monero changing the algo altogether or it's just a tweak on cryptonight to render asic unusable?

[stna1981]

Small tweak, hashrates kept the same. SUMO made a bigger change, here the hashrates of many cards dropped, my GTX 1060 3GB by about 10%

[Hueristic]

Small tweak, hashrates kept the same. SUMO made a bigger change, here the hashrates of many cards dropped, my GTX 1060 3GB by about 10%

So what exactly is the tweak(in plain english) and why can't asics (current) not handle it?

[mattcode]

Small tweak, hashrates kept the same. SUMO made a bigger change, here the hashrates of many cards dropped, my GTX 1060 3GB by about 10%

why can't asics (current) not handle it?

Because once you've made an ASIC, it's pretty difficult to open it up and start moving things around

There's nothing stopping anybody adding these changes into the next batch of ASICs, other than time and the fact that it'd be useless again in a few months with the next PoW change.

[Scooby903]

has anyone facing issue with monero withdrawal on hitbtc exchanges, its been few hours nothing happening

[Big Naturals]

Monero is a bright future coin

 Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses
 
 A user needs client software, a so-called wallet, to interact with the Monero network. The Monero Project produces the reference implementation of a Monero wallet and there are also third party implementations of Monero clients exist such as Monerujo which also make it possible to use Monero on Android.

The quality of these bot posts is getting a lot higher, is there a 'dating' bot on the market yet? In a few years talking with a bot could easily be more satisfying than talking to a human, just turn off the nagging feature and I'm in love.

[Millionero]

Something's wrong with this picture.

Code:

**********************************************************************
You are now synchronized with the network. You may now start monero-wallet-cli.

Use the "help" command to see the list of available commands.
**********************************************************************
status
Height: 1549383/1549383 (100.0%) on mainnet, not mining, net hash 494.61 MH/s, v7, up to date, 5(out)+0(in) connections, uptime 0d 0h 0m 23s
2018-04-12 08:57:11.422 [P2P2] INFO global src/cryptonote_protocol/cryptonote_protocol_handler.inl:310 [138.128.5.66:18080 OUT]
Sync data returned a new top block candidate: 1549383 -> 1549476 [Your node is 93 blocks (0 days) behind]
SYNCHRONIZATION started
2018-04-12 08:57:59.219 [P2P4] INFO global src/cryptonote_protocol/cryptonote_protocol_handler.inl:1167 [138.128.5.66:18080 OUT]  
Synced 1549403/[b]1549476[/b]

And this

Code:

status
Height: 1549483/1550023 (99.9%) on mainnet, not mining, net hash 502.04 MH/s, v7, up to date, 8(out)+9(in) connections, uptime 0d 0h 22m 23s
status
Height: 1549483/1549483 (100.0%) on mainnet, not mining, net hash 502.04 MH/s, v7, up to date, 8(out)+7(in) connections, uptime 0d 0h 23m 34s