Topic: [POR]⚡ELECTRONEUM⚡Official Moderated Thread - page 65. (Read 240362 times)

What ground and roads are you talking about exactly !?

At the moment it feels like the yellow brick road!

ETN has been adding ground and roads, great!Ignore the doubters. I'm looking forward to trading ETN with you.Everyone is lucky.

I think you may be wrong ;-)

When ASIC miners jump back on board the number of coins produced per day will say double.

So the coin you earn on your mobile miner will be worth half the value.

ASIC miners are like quantitative easing in economics - lol

Everything has an intrinsic value!!!

certainly no - mobile mining is simulation (airdrop)

monero got the same issues? etn got only one problem - nicehash attacks.
so, monero got nicehash attacks? no...
what "the same issues" are you talking about??

Is this fork going to affect mobile mining in any way?

Well the mobile wallet already shows a lil bit what it means. I would suggest you to use google translate and type; scam. It looks like you dont even know what scam means?? What the hell what have instant payments has to do with scam? Again; go to google translate and look what scam means.

Monero got a lot of problems with this asic-resist part, they got the same issues.

Read the anmouncement!!!

The future of ETN is not mining but it's mass adoption as a means of payment and settlement. How does buying ASIC factor into that.

Why Monero no problems with asic-resist? What is "instant payments"? Transaction without confirmation? It's a scam?

Yeah i don't doubt that (heya since the last mobile wallet update some words are in English instead of Dutch (Netherlands). When going to the page where you can send or receive coins some translations went wrong haha)

--
So for the negative people i want to ask some questions:
what if ETN decided to stay on Monero V7 and over 6 months there comes an Monero V7 asic?
Should ETN do a new fork to be asic resistant again?
What do you think what will happen with all the pools, companies and miners (they must fork also..)
How do you think when ETN is global accepted and there are forks every few months to stay asic resistant?

Let me give an answer on this;
People will stop adding and updating all the forks, companies want a good working system and not fork every few months with everytime the same risks of problems.
So, if you want to be serious, if you want to be global accepted, u must allow asic miners. Only with doing this you dont need to fight non stop against asic companies.

Oké. this is my answer on my questions, now i would like to see the answers from the negative people (again, try to use ur brain and think forward).

They can code just fine lol

Well that all depends on the miner if the price will drop or not.

Did BTC drop when the asics come? Did BTC drop in the long term after the asics release? No it didn't.

Also it looks like there will come more and more (and more different) cryptonight miners, so it seems they will gonna push that part of the algoritme.
Anyway if u look at the prices; 220Kh/s - 500 watt = 1900 dollar (out of stock), it's getting tricky if u buy this one. It's the best miner but what will be the price over 1-2 months?
Maybe there comes an 1Mh/s - 500 watt = 200 dollar miner, then ur focked with that 220kh/s miner..

In this stage i will wait till there are more and more different cryptonight asics. If there don't come more and different miners then there will be a problem


Anyway, if u look at the BTG fork last night, they did it very, very well. From a big asic farm coin to an (directly) perfect working BTG - GPU miner community.
No sh1t from nicehash, no sh1t with high diffs and low rewards, it worked perfect instantly!
They looked at all the problems with Monero and they fixed all the issues with the Monero V7 fork.

So ETN must go back to the asics to get a more stable network (and this is what happened) or they should fix the issues and get a stable network for GPU miners.
From the other side, you can't be forking everytime a company created an ASIC for the new algo, it's a race what will never ending (BTC community also saw this so they are just 100% asic now..). Also in the long term, GPU miners cost a lot, a lot of electricity in compare with asic miners. But at this stage nobody can say what is beter, ETN take a risk to go back to ASIC. However, this GPU mining situation was also not good (thanks to nicehash for focking it up).

We will see what the time bring to ETN, nobody can say: this is bad or this is good, nobody can look into the future.
If you would compare ETN with BTC, everything will be find.
If the cryptonight asic companies will let the algo die, ETN will also die.

There are 2 facts right now;
1. price is rising. This is the only fact, about the future it's only gambling right now.
2. GPU miners should move to another coin, sell the coins and buy ETN with it.

I think this is a really bad move for the community and this will drop the price of electroneum in the long run... maybe it will stabilize the network but for what cost? Cryptonote is made for gpu and cpu mining and if you dont follow their ideology then why use it? There are tons of algos that would suite better to electroneum... but however I am some kind of dissapointed but will still hodl my coins... hope things will go better in the feature because you cant give up controll over something so important to a hand full of people living in china...

Wow, I was wrong! I said yesterday they will not dare to go through another fork any time soon. And they did just that! This is the anti-anti-ASIC fork 

Hey, partially I understand. Introducing a more agile adaptive difficulty adjustment fix requires coding. And we all know how bad these guys are at coding. As of me, I'm letting this project sink down the CoinMarketCap list. I'll either point my rigs to Monero or rent them on NiceHash.

I am concerned about the move but I in two minds as I'm not sure if this a bad thing or good thing.  Let's face it ETN had two options and these are :-

Background
A recent fork was introduced to stop ASIC dumping their loads and driving the price down.  Maybe we rushed the decision as the price still went down anyway.

Problem
We have some good news coming but the block-time is all over the place due to lack of GPU miners and a deficiency in the algorithm.  GPU miners are fickle people and will mine the most profitable coin.


Option 1 - Apply another algorithm tweak

Pro
1. Will show that we have the skills and knowledge to implement a change.

Cons
1.  It will take time
2.  You never know the impact of a change until it gets into the real world.

Option 2 - Revert Algorithm and re-introduce ASIC miners

Pros
1) It works and we cannot fuck it up honest.
2) Block-chain should stabilise.

Cons
1)Are there any....
2) There will be no GPU miners and the block-chain will be centralised by large miners in China.

Recommendation
This is a tough one to call as I'm not 100% sure on the impact of option 2 / con 2.  All I can say is that this saga is no over even after this fork!  

Yes, we will see some of that. Im not sure how much more ASIC miners will dump as compared to GPU miners, but I would agree it is more.

Here I think its also important to note that the ASICs cant make the algo emit any more coins than GPUs.

The same total # of ETN per day will emit no matter which way you are mining.

As for price, Ive said before that we are most likely going to see a downturn for awhile, until we have more demand.

I dont think the fork will affect the price much. Everyone thought the price would go up after the fork we just had, but the downward trend continued after it happened.

Price is not expected to go up until there is more demand.

I think people may fear further price drops because asics are greedy and they dump?

It WAS a myth

It will no longer be a myth very soon

Apparently, the prototypes work, and they have reached the mass production stage.

I guess its possible that they fail to deliver on their promises, but we cant count on that, as there is no reason to doubt their claims.

Its a game changer for GPU mining in general, and not a happy one

reprogrammable asic is a mith.
if it will reprogrammable then it will have hashpower is ten (or much more) times less or it will be too much cost (not profitable).