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Monero Forks And Shuts Down ASIC Miners.

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kram36
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2018/04/06 21:08:06 (permalink)
I think Monero did the right thing by forking and making ASIC miners worthless to mine Monero.
 
https://cointelegraph.com...n-bitmains-asic-miners

#1

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    Hoggle
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/06 22:34:53 (permalink)
    It probably was the right move but it also shows that you can buy mining hardware and have it forced into being obsolete. In that way it’s kind of a move that is a double edged sword.
    #2
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/06 22:51:30 (permalink)
    Hoggle
    It probably was the right move but it also shows that you can buy mining hardware and have it forced into being obsolete. In that way it’s kind of a move that is a double edged sword.

    Monero has stated that they would do a hardfork because of this ASIC miner and make it worthless as soon as they were known to be going on sale. So those that bought them knew it could/would happen.

    #3
    jh4db536
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/06 23:05:29 (permalink)
    The double edged sword is that some authority decided to hard fork the crypto that wants to be the 'most decentralized and egalitarian' mined crypto.

    I support the move tho.

    What's even crazier is that ethereum might decide to allow ASIC... Even tho the polls support otherwise? I wonder what amd/Nvidia say to that

    Maybe he thinks Casper is coming that quickly where a fork isn't required
    post edited by jh4db536 - 2018/04/06 23:07:11

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    #4
    Chris21010
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/07 07:18:53 (permalink)
    I want eth to just go PoS I want to see the mining community squirm at that.


    #5
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/07 09:11:52 (permalink)
    Chris21010
    I want eth to just go PoS I want to see the mining community squirm at that.

    I want to see the world burn...oh what fun!

    #6
    Chris21010
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/07 09:36:01 (permalink)

     
    what i am saying is that PoS WILL happen and that this ASIC will just speed up the process. that guy does a lot of nice videos.


    #7
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/07 10:10:08 (permalink)
    Already watched that video. Even in the video he says he has no idea when Ethereum may go PoS. They will not rush it to PoS just because of ASIC miners. There is a thread on the Etereum topic, this thread is for Monero.

    #8
    ty_ger07
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/08 06:51:18 (permalink)
    CryptoNightV7 on GPU on NiceHash is very profitable for me right now.  More profitable than the majority recently.
    GTX 1070: 0.00020780 BTC/Day
    GTX 1060: 0.00012175 BTC/Day
     
    GTX 1080? Well, it has been choosing Nist5 recently.  0.00024875 BTC/Day.
    post edited by ty_ger07 - 2018/04/08 10:06:13
    #9
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/08 14:53:12 (permalink)
    Because Bitmain has been using these ASIC miners long before they sell them to the populace and you're now getting more shares because the fork cut them off.
     


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    Chris21010
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/08 19:03:13 (permalink)
    wish you would have stated that after the fork difficulty dropped buy 40-60% depending on the pool. that is much more interesting fact than the known fact that asic miners where already on the network.


    #11
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/09 01:48:55 (permalink)
    ty_ger07
    CryptoNightV7 on GPU on NiceHash is very profitable for me right now.  More profitable than the majority recently.
    GTX 1070: 0.00020780 BTC/Day
    GTX 1060: 0.00012175 BTC/Day
     
    GTX 1080? Well, it has been choosing Nist5 recently.  0.00024875 BTC/Day.

    Hum, I thought I would give my GTX 1060 a go at this. Downloaded the Nicehash miner and ran the benchmark. It shows my GTX 1060 will do 460.0 h/s on CryptoNighV7. When I check the current payout on Whattomine they show that would be $1.01 per day. So I let Nicehash mine just on my GTX 1060 and set it to just mine CryptoNighV7, let it run for a while and Nicehash says I'm currently getting a $0.70 daily payout rate. Why such a large discrepancy?

    #12
    ty_ger07
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/09 04:38:28 (permalink)
    I don't know why such a large discrepancy.  But, I think the honeymoon is already over.  The Monero CryptoNightV7 profitability on NiceHash has dropped for me.  I guess it was just a great 1-day thing.  Now the GTX 1060 is choosing DaggerHashimoto again, and the GTX 1070 is choosing Equihash again.
    #13
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/09 04:55:31 (permalink)
    I don't get it, if Whattomine says one price and Nicehash is way off. The Bitcoin amount you posted was right in line with what Whattomine says you should have been getting, just seems kind of shady to me. If you forced it to do CryptoNightV7, would you still get the same Bitcoin amount as to what Whattomine says you should be getting?
     
    http://whattomine.com/coi...0&commit=Calculate
     
    I did let it run my cpu on CryptoNightV7 just for the heck of it. It's using 1/2 the i7-5930k cpu at 4.2Ghz, so I doubt it is making any profit.
     

    post edited by kram36 - 2018/04/09 05:14:15

    #14
    ty_ger07
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/09 05:16:26 (permalink)
    kram36The Bitcoin amount you posted was right in line with what Whattomine says you should have been getting.

    It was.
    If you forced it to do CryptoNightV7, would you still get the same Bitcoin amount as to what Whattomine says you should be getting?

    Nope, it dropped.  If I force CryptoNightV7, my GTX 1070 now makes an estimated 0.00014757 BTC a day instead of the previous 0.00020780.
     
    I can't claim to fully understand NiceHash's business model, but it appears that NiceHash had to lower the incentive for Monero due to supply exceeding demand.  NiceHash has many "orders" for many different types of cryptocurrency, and with so many CPUs chugging away on Monero already (because, what else are the CPUs going to do?), they probably couldn't afford to have so many GPUs also crunching Monero.
    https://www.nicehash.com/marketplace
    https://www.nicehash.com/marketplace/cryptonight
     
    NiceHash gets their part of the pie.  And, NiceHash adjusts prices.  But, still, I think that as long as you don't force your GPU into doing something which NiceHash tries to encourage you not to do (based on their pricing adjustments), I think that the ease of use, the piece of mind of automatic profitability monitoring and mining adjustments, and the fact that you end up with one currency instead of pieces of many currency which you would have to transfer and lose to fees, makes NiceHash still worth using.  Maybe.
    post edited by ty_ger07 - 2018/04/09 05:24:14
    #15
    kram36
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    Re: Monero Forks And Shuts Down ASIC Miners. 2018/04/09 05:22:02 (permalink)
    Yeah, I wasn't thinking about the market part of NiceHash, that's probably why it's lower.

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