Bitmain Antminer X3 -- 220KH+ Cryponight - 550W - page 40.

greyday

member

Activity: 434

Merit: 52

Quote from: jstefanop on March 15, 2018, 06:07:18 PM

I wish I could understand bitmain logic...

"Hey lets make a siacoin miner that will make $50 day profit after everyone plugs them in and charge 2,500 for them"

...2 months later

"Hey lets make a Monero miner that will possibly make $50 a day after everyone plugs them in IF they don't fork and charge 12,000 for them"

This right here. I am still trying to figure out what the logic is; I assume that there being, you know, more than one coin using the algo means maybe the decline will be a lot slower? Though if they all fork...

There must be something I'm missing.

jstefanop

legendary

Activity: 2174

Merit: 1401

I wish I could understand bitmain logic...

"Hey lets make a siacoin miner that will make $50 day profit after everyone plugs them in and charge 2,500 for them"

...2 months later

"Hey lets make a Monero miner that will possibly make $50 a day after everyone plugs them in IF they don't fork and charge 12,000 for them"

ciciteng

jr. member

Activity: 168

Merit: 2

Just really want to see that greedy Jihan Bitmain will suffers when every dev realize that ASIC is *plague* in the crypto industry which should be rely on decentralize platform.
I hope that BTC dev also consider to change algo that resistant to ASIC plague.

huntingthesnark

member

Activity: 357

Merit: 26

Quote from: generalt on March 15, 2018, 12:27:35 PM

Quote from: Metroid on March 15, 2018, 09:44:59 AM

If they want to sell them now then means it they have been mining with them for sometime cause pre gpu altcoins give a lot lot lot more money than mining bitcoin. there is no hope, profitability crashed so hard everywhere cause people buying altcoins are afraid and asic companies are getting gpu miner profits.

They are selling now because Monero is going to fork and change algorithms. I'm sure other coins will follow suit leaving you with a small handful of coins that you will be able to mine with this thing.

Really hope this is true. BM is bringing the fire to each algo in turn, and those that give in hand BM (or a couple of other manufs) the power. Resistance is essential.

adamajer

newbie

Activity: 19

Merit: 1

95% of CN coins will change algo for sure. There's no way on earth that this could be profitable in the long term, unless you got free electricity

fr4nkthetank

legendary

Activity: 2294

Merit: 1182

Now the money is free, and so the people will be

Coins will adapt, I doubt bitmain is going to have a great success with this one...or maybe they will but not the buyers. Its hard to justify the price, but it seems bitmain prices its ASICS at least initally at around 60 days ROI without electric.

robrev

newbie

Activity: 19

Merit: 0

There are 0 reasons for algorithms not changing.

I believe most CryptoNight active dev team coins will change their algo.

Monero announced they would and so did Graft

Mark Baum

jr. member

Activity: 51

Merit: 5

Quote from: drawingthemoon on March 15, 2018, 04:38:27 PM

I think it is good. The miner will push the prices for the cryptonight coins up. the difficilty will increase extremly. If you mined 300 etn per day you will mine only 3-5 in a few weeks. the price will go up. hold your mined coins and smile all day

I don't know why people operate under this misconception. Yes it has happened a couple of times, but, that was when coins were in a bull market already. Logically, and it happened with SIA, the faster miners are reaping rewards, the more supply is driven to the market. That drives prices "down" not "up". Especially when said "miners" are trying to recoup huge hardware costs.

Tekno2020

member

Activity: 262

Merit: 11

<<<-----( )----->>>

Quote from: QuintLeo on March 15, 2018, 03:45:19 PM

Quote from: greyday on March 15, 2018, 02:36:24 PM

Quote from: squallw on March 15, 2018, 01:20:35 PM

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

It's an even bigger nail in the coffin of CPU mining, since cn is one of the only profitable algos left there.

But either way, yes. If the ASICs can keep up with forks

They won't.
It takes MONTHS to redesign an ASIC, get it validated, then get it into a production que.

They might TRY to do so once or twice, but I bet they fail and give up very quickly if they DO try that.

it will be interesting to see the first alt coin to hardfork and invalidate asics. either way the asic manufacture will have made their money. of course the ones left holding the bag will be all the buyers of bricked miners. that kind of move may be a deterrent to bitmain and other manufacturers who have little regard for the ecosystems that they enter. it may force the manufactures to be more participant in the various communities as opposed to invaders.

shaninium

sr. member

Activity: 489

Merit: 253

Pinidea have got a cn miner now too, 27kh at 350w ~4.5k. Who's next? Ibelink? This is x11 all over again, but possibly worse.

ruthbabe

sr. member

Activity: 966

Merit: 275

Quote from: Prelude on March 15, 2018, 02:44:22 AM

Quote from: Neo-Geo on March 15, 2018, 02:29:09 AM

China Mining Co. Bitmain Shows Higher 2017 Profits Than US GPU Giant Nvidia, Report Finds
https://cointelegraph.com/news/china-mining-co-bitmain-shows-higher-2017-profits-than-us-gpu-giant-nvidia-report-finds

Big markup = big profits. Would probably be < $100/day by delivery. This has to be the riskiest ASIC offering to date. Shall we flip a coin before ordering?

This is going to make some AMD cards more affordable tho. Glad we bought Nvidia only.

Guess you haven't been paying attention... There will be nothing to mine with these CN ASICs. Monero is switch algo, along with other CN coins. They'll be completely useless.

Yes, you're right. And if that happens the biggest problem for those who buy it is how to recover their loss as they can't make any refund even a single cent of their $11999.

Quote

There are financial risks associated with mining cryptocurrencies. These risks can be related to changes in exchange rate of the cryptocurrency or to changes in the algorithm that is used to mine the cryptocurrency. Please deliberate well before making a purchase because we will not accept any requests for refund for orders of this batch.

drawingthemoon

full member

Activity: 135

Merit: 100

I think it is good. The miner will push the prices for the cryptonight coins up. the difficilty will increase extremly. If you mined 300 etn per day you will mine only 3-5 in a few weeks. the price will go up. hold your mined coins and smile all day

ZacL

newbie

Activity: 61

Merit: 0

Quote from: BroganBloodstone on March 15, 2018, 02:09:33 PM

Quote from: legendster on March 15, 2018, 01:24:05 PM

Quote from: squallw on March 15, 2018, 01:20:35 PM

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.

In my opinion you are right. If no one knows about the release of a new ASIC they can mine away crazy amounts without anyone being any wiser. As soon as they mention they are going to sell it, devs will try and fork. I think they had these some time ago but now they know that a new fork is coming they are trying to sell them.

It will be interesting to see if how much hashpower will drop from monero and other popular coins like electroneum once they fork

Absolutley my opinion is that 100% this is what has been going on. All CN coins should sporadically change algo's to battle against this then theyll leave us alone.

not.you

legendary

Activity: 1726

Merit: 1018

Looks like a couple CN coins have already implemented the monero fork changes. There may be nothing to mine with these when they arrive at people's doors.

You know this also has me thinking, if ETH or ZEC announced an imminent algorithm change hardfork, would we suddenly see some more previously unknown soon-to-be-worthless asics hit the market?

Marvell2

full member

Activity: 1148

Merit: 132

Quote from: BroganBloodstone on March 15, 2018, 02:09:33 PM

Quote from: legendster on March 15, 2018, 01:24:05 PM

Quote from: squallw on March 15, 2018, 01:20:35 PM

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

Not sure if they are doing it intentionally, but given their position; I think its a matter of inevitability. When you come up with an invention, you'd be stupid to not use it yourself. I'd say much of Bitmain's profit comes from mining and not actually selling their rigs. But that's a hypothesis. Otherwise, they'd end up like KNC or Butterfly Labs.

In my opinion you are right. If no one knows about the release of a new ASIC they can mine away crazy amounts without anyone being any wiser. As soon as they mention they are going to sell it, devs will try and fork. I think they had these some time ago but now they know that a new fork is coming they are trying to sell them.

It will be interesting to see if how much hashpower will drop from monero and other popular coins like electroneum once they fork

knc was mining with much of thier equipment , remeber the dator halls

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: greyday on March 15, 2018, 02:36:24 PM

Quote from: squallw on March 15, 2018, 01:20:35 PM

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

It's an even bigger nail in the coffin of CPU mining, since cn is one of the only profitable algos left there.

But either way, yes. If the ASICs can keep up with forks

They won't.
It takes MONTHS to redesign an ASIC, get it validated, then get it into a production que.

They might TRY to do so once or twice, but I bet they fail and give up very quickly if they DO try that.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: greyday on March 15, 2018, 02:33:46 PM

Quote from: Dlikrot on March 15, 2018, 03:26:05 AM

I just built some rigs and this crap gets announced Cheesy

arrgghh...rumors were indeed true. Hope eth forks.

ETH is not a cn coin.

They probably meant ETN (Electronium) which is the second-highest network hashrate CN coin - and like Monero they have announced they will be changing their algorithm and hard forking soon to implement the change.

These devices are no coffin nail in CPU mining, they're going to be expensive paperweights very soon now.

Kahooli

newbie

Activity: 58

Merit: 0

No one should consider 2MB of ram for PoW to be asic resistant at all these days.
Ultrascale+ FPGAs have enough internal memory to make this a joke. Plus on chip HBM2

Cryptonight PoW needs to increase the memory depth.

greyday

member

Activity: 434

Merit: 52

Quote from: squallw on March 15, 2018, 01:20:35 PM

CN coins need a hard fork to change the algo or the CN algo will gonna die for gpu mining.
I agree that bitmain wants to compromize the main feature of crypto currencies by centralizing the power.

It's an even bigger nail in the coffin of CPU mining, since cn is one of the only profitable algos left there.

But either way, yes. If the ASICs can keep up with forks, then they will own the algo. But there is also the benefit of a saturated network, the available hash power means that a coin vying for the POS market (like etn) may benefit from the support of ASICs, at least for a while, so they may not WANT to fork (xmr will, of course).

greyday

member

Activity: 434

Merit: 52

Quote from: Dlikrot on March 15, 2018, 03:26:05 AM

I just built some rigs and this crap gets announced Cheesy

arrgghh...rumors were indeed true. Hope eth forks.

ETH is not a cn coin.

Topic: Bitmain Antminer X3 -- 220KH+ Cryponight - 550W - page 40. (Read 18895 times)