and the market for those chains dry faster than the price can fall
so what it's true : I read that fpgas for CryptoNight have been successfully reconfigured for CryptoNightV7 ?
so the fork was a total failure.
well the fork never intended to block fpga, but ASIC. So far it worked.
Just seems that the new algo is not so economically ASIC resistant for monero new POW, which will surely require a new fork in six months
technically you are right, but I though it was about letting the chain be decentralized on relying on cpus and gpus... now it's a few fpgas running the show... a 51% attack on monero would be great
.
as the others poster "only nerd" control fpgas... and then if you have to know how to reconfigure them... and if you know how to configure one, you know how to remove a "fee"...
Well i can be wrong, but i dont think fpga are big part of monero hashrate.
When they forked the network hash dropped to 1ghs to around 300mhs.
What happened after is that a lot of gpu miner switched their rig to monero, because ASIC farm are very predatory to little CN project.
I opened a Dero pool three weeks ago, at this time network hash was around 4mhs, and now it's around 200mhs.
Intense coin saw it's network hash jumping from 2mhs to more than 900mhs in less than a day.
So CN asic farm are targetting all potential coin which havent forked yet to get some profit. Repelling all gpu miners which only mines dust on those quite profitable young project before then.
So those gpu miners turned their rigs to monero and alike who already forked, which explains the rise of hashrate.
About the dev fee, i consider 4% is ok.
The biggest risk of this project is more a human risk, as far as we investing miners are all tied to the release planning and support of a very few number of developper (currently one). Which means that we cannot do much if developper decide to not implement some algorithm. And the possibility that another dev release things is quite low, given the high profitability of the technical advantage.
he can make a very good profit getting little % of hardware sells from those company, attract investing miners with keccak release end of may so that we are enough to buy lot of card in hope of other algo, and exit scam with hundred of thousand buck by end of year
and we all have to wait for another dev to use our fpga hardware and being exposed to same risk.
So in game theory, i will not try to remove 4% fee even if i have some skills to do it, until im fully able to dev efficient mining algorithm (which seems not very doable, given my personnal situation - familly- work- time i can allocate to become really fluent in vhdl ...)