Topic: ETN is back to ASIC :) ATTN: Antminer X3 owners :) (Read 784 times)

Just goes to show how much of a shitcoin Electroneum really is.

They can't even make good enough decisions to actually stick with them. Why didn't they think of this before they switched to Cryptonight V7 (albeit they were already late and the last to do it)? Electroneum is no better than the shitcoins that are run by college kids.

Undoing

so they are UNDOING the V7 update or just waiting for them to invent a V7 asic?

It has been a crazy year for gpu mining reason resale has kept a good return cause prices skyrocket 3x and also pay attention to manufacturing delays and so on, expect 70% minimum, example gtx 970 --> gtx 1070. 12nm is not really a mind blogging advancement from 16nm but gddr6 is, a gtx 1070 will not be worth much 6 months after a 1170 is released, if mining is not giving anything good then expect 80% devaluation. GTX 1070 selling for $550, you will get like $150 for it in few months after 1170, maybe for less. Also as there are too many gpus and nothing to mine with it in few months, this will likely end very bad, gpus will be very cheap in few months. Nvidia itself supposed to launch the new nvidia series in march and postponed to September, reason?, there are too many gpus around. If nvidia launched the next generation in march then would kill the price hike and they did not, mainly because manufactures played the "Let;s keep up the high profit".

They fucked up from the start, with the ICO, with the Mobile miner, after that with the fork.
A well, at least they deliver a lot of fun on Twitter and other channels.
Maybe time for another White Paper, this 1 has 1 thing that hasn't changed, and that's the name of the coin, all the rest is gone.

Resale shoudn't be ignored, my 700days old GPU card RX 480 could still be sold at 200$ from 300$

its still around 67% value

though im still burning them 24x7

holding coins mined and trade them

Etn said they expected gpu miners to come back to their coin apparently, so it seems they want more hashrate, so they went back to asics.

I don't get why they went back to ASICS,  I thought the Idea was to get as much ETN in as many hands as possible,
I don't see this working when you now have to spend almost 1k for a miner to mine this ?
 

bunch of lies here.

in 2012 i mined with 22 hd7970's and my hash rate was 0.0007619 of the btc network.

to mine 0.0007619 of the btc network now you need 2054 s9's


so my 22 gpus burned only 11000watts to mine that much

2054 s9's burn over 2,875,690 watts to mine the same percent of the network

asic don't save power if the coin is successful as people just will use a shit ton of them

Forget resale cause gpu roi is not a 200 days, not even a year right now, 700 days is a long time and by the time you reach roi, the gpu value has been depreciated by 70%, my point is, gpu resale must be ignored if roi is greater than 300 days. Asics and fpga roi usually are 150 - 250 days. I prefer to buy asics or fpga's with 180 days roi with no resale than gpu 300 days roi and resale. 120 days is a lot.

You're ignoring resale in that calculation. Important dat, comparing a VCU to a common gpu they ain't the same.

most of us are holding hoardes of gpus and praying for survival, but there's no way i'm adding more gpu's to my array at this point.

Asics have always been a problem, but if these guys figure out fpga's, it's over. you would have to believe that it's just a matter of time.

Dont get me wrong, i'm mining my gpu's until the day i can't make up for the 9 cents per kwh, but it is what it is.

For it not to become a thing then it has to be much worse than a gpu  and right now is simple, with a fpga the roi is 200 days, as for the rx 580 is https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=150.0&fee=2&cost=0.15&hcost=350.0&commit=Calculate 700 days, so gpu is dead. Matter of fact, roi, gpu 700 days, fpga and asics 200 days or so. So right now gpu's are dead for mining. Anybody buying gpu's for mining are idiots.

FPGAs will not become a thing. First of all they are shit expensive. Secondly they are really really hard to get to work stable. To let a couple of these guys on a network wont be a problem, they wont mass up to a large percentage of the hashrate.

This is a stupid move.

Will become shit coin of 2018, wrong move. Dumping my coins too.
Asic owners manipulate the market to dump their coins for higher profit. See Bytecoin....

.... time will tell ....

etn is worthless. It gain some sats, but after this update is going back down. What a stupid move from devs.

haha. Don't see how this is good news for anybody connected with ETN. It's only a desperate short-term move to attract cheap hashpower. Profits will now plummet as difficulty rockets, to the point where only the big asic farms will bother on such slim margins, leading to heavy centralisation until the profits vanish entirely. The whole line about FPGAs is entirely misguided - nobody is going to use FPGAs to compete against existing asics, so this tactic has actually locked out the FPGA's, not included them.

Ironically the very opposite of ETN's original strategy, where even mobile mining was a big part of their play.

i'll dump my 100k etn from now on.

i dont own any cryptonight asics, but agree with this sentiment as well. if FPGA's are becoming more and more prevalent, it makes no sense to go asic resistant.

FPGA's are even more exclusive than asics and are basically impossible to stop. Asics are more secure than fpga's.

This is so true. This fpga hype only makes coin devs to let asics roam free cause is much better let the asics than fpga cause fpga's will be only few people whereas asics can be sold by many companies. I myself prefer asics than fpga's and I agree about what etn devs have done. Concerning security, fpga's are many times more dangerous than asics.

source?

nevermind, found it...
https://twitter.com/electroneum/status/1014853567633674240

yes if you did not know yet, and you have a Antminer x3, its maybe time to redirect back to ETH mining
Network difficulty jumped already from 22,843,211,141 to 125,388,752,124
of course more ppl using they x3 , less money you going to make

From ETN developers:

"ASICS are becoming more prevalent, they cost considerably less to run than a GPU rig and use a fraction of the electricity. We are going to encourage more ASIC ownership and take our hashing rate up to (and beyond) the enormous levels of hashing power that we had before the May fork.

There is a further development. The first generation of hardware called an FPGA miner is arriving during 2018 and they make ANTI-ASIC capabilities a thing of the past, as they circumvent the slow delivery time of new ASICs by being re-programmable. If we are ready to embrace these rather than fight them, our network hashing power is increased further and our network stability and security is further enhanced.

Because ASICS run cooler, quieter and use a fraction of GPU rig power, they are suitable for MORE people to run in their homes. If you are interested, a search of “Cryptonight ASIC miner” in Google or Ebay will find the equipment needed to mine Electroneum. You will need to be reasonably technical to achieve this!

Having a stable network is absolutely key to both delivering mass adoption and to ensure we have a great relationship with the great exchanges that we’re already listed with, and to encourage more of the larger exchanges to see Electroneum as a coin that they want on board.

How will I mine Electroneum after this update?

If you are a mobile miner – nothing changes. If you are a GPU or ASIC miner then you’ll need to connect to an Electroneum pool but it is important to note that you will need to change your ALGORITHM. You MUST use the algorithm “Cryptonight” and NOT “Electroneum” or “CryptonightV7”. "