Why does anyone talk about Monero only ? There are tens of cryptonight coins, much more profitable than monero, mineable with these Asics. Yes, Monero will fork, but no one forbids people to mine other coins and buy monero afterwards. And yes, other coins will be destroyed by so many powerful miners flooding the market, and most of those miners will ROI (not talking about those who paid the ridiculous price for the first batch). It will take time for these miners to become obsolete, as it's gonna take a lot of time for other CN coins to switch algo. Again, the planet doesn't revolve around Monero, wake up people.
But i still find it funny how all companies released a cryptonight miner at the same time. As if it was a single company under different names, controlling the miner's market.
But i still find it funny how all companies released a cryptonight miner at the same time. As if it was a single company under different names, controlling the miner's market.
XMR have 950Mh (700 Mh of which is estimated to be asics), ETN have 320Mh, GFT+IPBC+SUMO have <150Mh combined, other coins have <60Mh combined.
If XMR and ETN forks then first batch of bitmain will have estimated payback period around 8 months at best. If GFT, IPBS, SUMO forks it will be 2 years at best.
How about Stellite, Turtle, Bitcoal , Dero, Edollar and a dozen other tradable CN coins? Most of them just started and are more profitable to mine. Each week there's a new one coming out, keeping the original cryptonight algorithm. I hope it's gonna be like you say, otherwise all small miners with will get smashed like bugs.
These coins have little liquidity though, hard to dump them in the market when there's so little volume traded daily
What dude did you not read the previous posts. Stellite said almost immediately they were going to fork algo, Turtle and Edollar have also said they are forking. I don't follow Dero so I'm not sure. I don't get why people are under the impression it's going to take coins months after XMR to update the algo. If they truly want to fork and it's proven to work well I speculate most CryptoNight coins will be V7 within a couple weeks.
Dero already announced their Anti-ASIC stance.
So far i have seen Monero, ETN, Turtle, IPBC, Graft, Edollar and Dero announce their Anti-ASIC stance and that makes up 95% of the cryptonight network anyways. So those ASICs are probably going to waste soon.
