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

[Globb0]

its game over never going back as can be seen with bitcoin.

Perhaps you can explain how specifically bitcoin has suffered from the existence of ASICs?

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its game over never going back as can be seen with bitcoin.

Perhaps you can explain how specifically bitcoin has suffered from the existence of ASICs?

The counterfactual is pretty hard to assess but the concentration of mining under the control of a few ASIC manufacturers has definitely harmed the narrative about decentralization, which could have wide-ranging effects on trust, adoption, and ultimately market value.

There could be positives, too, so it isn't guaranteed that even the negative perception of centralization is a net negative. There is a narrative and some supporting theory about ASICs being good for security, which I think is over-simplified and could possibly be outright wrong. But in reality right or wrong doesn't matter short term as much as perception.

[Hueristic]

its game over never going back as can be seen with bitcoin.

Perhaps you can explain how specifically bitcoin has suffered from the existence of ASICs?

You have inferred I have stated that bitcoin has suffered but i have not. The Asic eco system is a much different animal than it is now. Now it is dominated while back them there were many players trying to get in and the effort was more decentralized and hence the effort itsself led to a distribution of solutions while in a monero sence there will be one chip that will be as close to optimized as possible and held by those that invest the most and whether that will be the masses or not is debatable.

But that does not mean I do not think it has suffered as I think it has led to vectors of attack that would be unacceptable for Monero.

You cannot draw a parallel between the market industry then and now as there were not even hybrid FPGAs back then.


I believe if we do fork to a asic friendly algo we should crowd source a asic board that can installed in peoples systems as that will broaden market adoption far more than just telling everyone "Ok go buy you bitmain miners for the next upgrade".

[pinpins]

 
 You can mine Monero at autoexchange mining pool Zergpool.com at 0.5% fee. Please use following commands for different mining options
 
 Option 1 Auto coin switch by profitability within algorithm with autoexchange to specified coin wallet(BTC in example below)

Code:

-o stratum+tcp://randomx.mine.zergpool.com:4448 -u <YOURBTCWALLET> -p c=BTC

 Option 2 Direct coin mining with payout to coin wallet

Code:

-o stratum+tcp://randomx.mine.zergpool.com:4448 -u <YOURXMRWALLET> -p c=XMR,mc=XMR

 Option 3 Direct coin mining with autoexchange to specified coin wallet(BTC in example below)

Code:

-o stratum+tcp://randomx.mine.zergpool.com:4448 -u <YOURBTCWALLET> -p c=BTC,mc=XMR

 Please note mc stands for mining coin symbol, c stand for payout coin symbol
 
 Autoexchange to BTC, LTC, DASH, BCH, DOGE or any other currency we mine
 Happy mining,
  cheers pinpin

[Bigger By The Day]

 i want to try Swing Trading strategy

after this chart now is time to sell monero and buy waves

Monero XMR to Waves WAVES
http://coingator.net/xmr-monero-2834-4504

[Globb0]

All that activity not a single trust or merit, too scared to post on your own account etc.

Thanks for the warning about Waves

[gembitz]

It has been said along the way at some point we may stop fighting asics.


Think about it practically, an ASIC is an investment in the coin. Research, design, running, costs. Its in their interest the coin is valuable. Not "damp it to 0" phone meme.

Without this sizable bit of the market it feels like we are outside the big stream.


How could it be fairest? So maybe we run a version for a year or more in test that will be the final major revision and give everyone equal time to make and market ASIC Monero devices.

Then even some groups of people might club together and spin up something.

This has been an on going debate and it is boiling down to the benefits v/s the rewards (which itself is a debate as security of the chain is a huge reward).

As I see it this is the arguments for constant algo morphing off the top of my head go ahead and fill in the blanks.

1) continued decentralization (security from attacks and continued egalitarian purpose)
2) the longer we can hold off asics the longer we have to find a truly asci proof method as once we change to something along the lines of a asic friendly algo its game over never going back as can be seen with bitcoin.
3) The need to create an entire network of asics for a decentralized asic cross over is posponed as many have just purchased cpus to support this algo.
4) we can also push back a algo change indefinitely as long as the asic manufacturers feel it is not in their interest to create and produce one. this has been accomplished already by the forks these last few years.

Now that we have drawn the line in the sand and PROVEN that we will back that statement up by forking the algo multiple times those that create and finance asics understand that they can effectively lost by funding a asic design and rolling it out if we fork again.

So I would propose we have a spare algo to fork to is a asic developed for RandomX and when the deadline comes for the next update we push it back if there is no evidence that one is or has been designed. Of course stateing publicly that we would do this would in effect negate the threat so it would have to be kept a secret from everyone except the devs who we can trust with the knowledge that this type plan could be implemented.

Either way I would say this has brought us breathing room. Another thing is if an asic cannot be a multitude of times more efficient than existing hardware then that is a consideration on whether to create that asic. there are many variables and alot of those questions can be answered by looking at the fpga hybrid boards and seeing how they fare when they have the proper bitstream.

Shit gotta run will finish my spitballing musings later.

tl;dr ===> xmr forks every few months to remain botnet friendly algo reee

[Bigger By The Day]

All that activity not a single trust or merit, too scared to post on your own account etc.

Thanks for the warning about Waves

waves gain 15% after i post

in last 24 hours . good trade

 i make my own charts is better than traditional

[Globb0]

Cool how much did you sell your account for?

[STT]

Perhaps you can explain how specifically bitcoin has suffered from the existence of ASICs?

The private miners suffered when the game moved on from them but its generally the case that all business must be competitive and efficient and so ASIC was inevitable in coming into existence.  I can remember when mining was done on CPU or even in the wallet itself, super convenient and easy.  I wish I'd be around for that phase rather the much later rising difficulty phases.  
  The only argument for no ASIC is that BTC has a difficulty that rises by its own accord seemingly so why couldn't we stay on GPU forever, sadly in an open market and to stay secure I guess this was never possible.   I remember alot of alt coins did their best to freeze development onto GPU only by being very complex.  I'm not sure that really benefited the overall ecosystem for the coin so its hard to disagree however much personal bias I have the health of the coin and its blockchain is paramount.

[gembitz]

Perhaps you can explain how specifically bitcoin has suffered from the existence of ASICs?

The private miners suffered when the game moved on from them but its generally the case that all business must be competitive and efficient and so ASIC was inevitable in coming into existence.  I can remember when mining was done on CPU or even in the wallet itself, super convenient and easy.  I wish I'd be around for that phase rather the much later rising difficulty phases.  
  The only argument for no ASIC is that BTC has a difficulty that rises by its own accord seemingly so why couldn't we stay on GPU forever, sadly in an open market and to stay secure I guess this was never possible.   I remember alot of alt coins did their best to freeze development onto GPU only by being very complex.  I'm not sure that really benefited the overall ecosystem for the coin so its hard to disagree however much personal bias I have the health of the coin and its blockchain is paramount.

monero is a VIRUS if it had asics this hidden wallet miner trojan aspect would not be effective ;-D pfft

[XxXBigDickXxX]

Monero dead for miners because its unprofitable

[Iamtutut]

It's not if you are using a Ryzen CPU.

[CryptoBuzzerd]

Ryzen puts now nice power!

[XxXBigDickXxX]

as you said with ryzen its good, but what aboit roi? Over 3 years? Much profitable buy smth else.

[Iamtutut]

as you said with ryzen its good, but what aboit roi? Over 3 years? Much profitable buy smth else.

If you don't believe in the market value of a POW coin, or don't intend to use it, then don't buy hardware to mine it.

Monero is the leader of privacy coins, by size, reach, fame...I intend to fight for my privacy, so I bought a ZEN 2 CPU. I'll mine XMR, keep running a Bitcoin full node, may be also run other nodes. ROI in FIAT is not the goal, currently it's ways too far fetch.

[Globb0]

[Hueristic]

Happy Holidays guys, I had to rma my Mobo so no mining for me right now, seems the pci-e rail does not have the required 12v.
It was tough to figure out as the gpus are self powered.

[Iamtutut]

as you said with ryzen its good, but what aboit roi? Over 3 years? Much profitable buy smth else.

If you don't believe in the market value of a POW coin, or don't intend to use it, then don't buy hardware to mine it.

Monero is the leader of privacy coins, by size, reach, fame...I intend to fight for my privacy, so I bought a ZEN 2 CPU. I'll mine XMR, keep running a Bitcoin full node, may be also run other nodes. ROI in FIAT is not the goal, currently it's ways too far fetch.

My Ryzen 3600 is home and currently very busy.

Because my cooler is a cheap one that I had bought for a Ryzen 2400G, I'm mining using 90% of the CPU power (+/- 55W CPU power draw according to the Asus ressource monitor), still it's getting a very nice +/- 6,45KH/s. Top HR is 6531H/s.

Hardware config is:
Asus X570-P mobo
Ryzen 3600
16Gb DDR-4 3733 CL17 running @3600MHz


XMRrig 5.4 on Win10 64.

[Hueristic]

Pull any sell orders you guys have just in case those PlusToken scammers try to wash with Monero they will have to pay a premium. .03 or less is a steal for them.

Wait its all a steal for them make it .05!