Topic: antminers for Lapo Lax (Read 201 times)

its like trying to cut down a tree with an exacto knife lol and everyone else has heavy machinery

Like i said: i don't really know what this altcoin is all about, to tell you the truth, i hold very little alt's (some ETH, LTC, XMR and DOGE, but that's about it).

I've had a look on google images to search for an image of their wallet, and at first glance it looks like LAPO is just a clone of a clone of BTC... At least, the QT wallet is cloned from bitcoinQT, so i'd doubt if the blockchain algo was significantly changed between LAPO and the X11 coin they cloned.

Since they seem to try to run some kind of ICO, i can only guess they cloned an existing coin, added a fat premine and are now trying to become rich by selling their premine (this is my gut feeling, like i said: i haven't done the effort of really analysing the coin, i'm just going on some google images and the text on their website/ann thread/github page).

If they just cloned an existing coin that used the X11 algo, anybody with a working knowledge of mining should have been able to get a GPU miner working, or even better: an ASIC.
It takes just one or two ETH miners that switched to LAPO because they lost money mining ETH in order to completely blow LAPO's difficulty out of proportion. If you have 4 or 5 X11 ASIC's on your network, it becomes allmost impossible to find a valid block with your wallet's cpu miner.

An antminer D3: 17 GH/s (source: https://www.cryptocompare.com/mining/bitmain/antminer-d3/)
A "regular" cpu: 200 Kh/s (source: https://cryptomining-blog.com/tag/x11-cpu-miner/)

5 cpu miners: 1 Mh/s
5000 cpu miners: 1Gh/s
85.000 cpu miners: 17 Gh/s

So, basically, disregarding the difficulty, the time between blocks, the LAPO price or the block reward, if LAPO's network consisted of 2 miners: you (running a cpu miner) and an other guy (running a D3), statistically, only 1 in 85.000 blocks would be found by you, and 84999 in 85000 blocks would be found by the ASIC miner.
Now imagine a network with yourself and 5 D3's

Yeah, I was trying to mine some Lax, hoping it will go to the moon.
But mining with their app (cpu) is not worth the effort anymore, finding blocks is almost impossible now, so I stopped few weeks ago.
Very disappointing that they are not ant proof and the promise of mining with gpu is also not coming true.

When I search the internet their are also some doubts about this coin, development and support seem to have stopped or at minimum levels.
Only when someone complains on forum, then they start reacting, only to tell that their coin is amazing.

It seems lapo is using X11 as it's POW algo. AFAIK, there are several ASIC's on the market for X11 hashing (like the D3, but AFAIK innosilicon, spondoolies and baikal all have X11 ASIC's on the market), so they wouldn't have had to figure out a way to do this, it should have been pretty straightforeward.

These X11 ASIC's have been around for a long time, somebody just has to use them to mine this altcoin (disclaimer: i don't usually visit the altcoin subforum, i don't know LAPO, i have no LAPO, i'm not a LAPO miner,...).

I saw something very strange regarding the lapo mining.

http://explorer.lax.am/richlist

Two addresses hold over 85% of all Lax and their hashrate and block finding are off the roof.

So do they have figured out a way of mining the Lapo with their antminers ?