Well, that is nice and all. However, I have seen this all before. That somehow this new algorithm is ASIC resistant. The simple fact of the matter is that the algorithm may really only be resistant to the current known technology. However, better chip design is an ongoing process. I am quite certain that the Bitmain R&D team is busy coming up with ways to flout anything the community will try to stymie them. And if their team can't do it, I am sure they will be happy to ask for the assistance of Nvidia, Amd, Intel, Samsung or whatever other chip manufacturer, and pony up the cash to come up with a solution for them.
https://www.youtube.com/watch?v=mPVpMxVn6mkHI BITMAIN SHILL,
Meet PROG Proof of Work, which renders ASIC's and FPGA's on an even keel with GPU's for the most part. [About 1.1 or 1.2 to 1.0]: https://www.youtube.com/watch?v=P6B-ZCyP6K8&t=4s I don't intend to shill for Bitmain. I am just really disheartened that ASICs are cropping up left and right. All I want to do is hobby mine with my one GPU. I really don't want to be forced to buy dedicated or limited hardware just to continue to hobby mine. Most of these ASICS are probably going to be replaced with with better ones in a year or two. So, I end up with a bunch of bricks that didn't even ROI because the difficulty on the coin(s) shot up sky high. At least when my 1 1070 becomes obsolete for mining, it's attached to a desktop that I can enjoy for 4 years or more. Or I can simply upgrade the GPU, which is usually cheaper than buying specialized equipment.
Bitmain coming out with the Z9 has really made me cynical as well. I was under the mistaken notion that Equihash was "ASIC resistant" because of the memory requirements. Now I look at this new proposed algo, and I'm skeptical. I feel like Bitmain will just cut out the two unneeded components and optimize/improve the components that are needed. If they can't do it, like I said before, they can offer another chip maker to do it.
Also, due to economies of scale, Bitmain can always set up large farms that will get electricity and the equipment for way cheaper than anybody else, ATM. If they don't like the electricity rates in China, the can simply set up a huge farm elsewhere. I don't believe Jihan Wu when he told Zooko that they don't have any "large" GPU farms. Even if true, they are in good position to set up a large one, if need be.
Computers are going away. Fewer and fewer people have a "computer". Everyone has phones, so clearly we need to change to PROG POW and restrict all mining to cell phones... You know, for the greater good and decentralization and all.
That would be ideal. However, King would probably come up with a botnet which would allow people to get lives faster, if they use this new nifty feature...