Topic: Siacoin diff +7000%, and "no-fork" good news (Read 147 times)
It looks like they are taking a wait and see attitude towards Bitmain. From a purely competitive standpoint they did nothing wrong, however, we are all one big community and stuff like this does seem kind of douchy. Bitmain made the miner exclusively for Sia. IMHO they did this for no other reason than to try and eliminate competition.
TL;DR: Siacoin difficulty increase 7000%, price didn't moved yet, and Siacoin devs let ASIC companies to compete in the network ("no-soft-fork").
Things were hot on SiaCoin community this last days:
Chinese company Bitmain created an ASIC miner called A3, to mine exclusively SiaCoin [Blake(2b) algorithm] and delivered in 10 days.
The problem was that Sia devs also created a miner, sold it for 1.5BTC last year (June 2017) and promised to deliver this year (June 2018); and now, people who bought it, got screwed by the chinese "bad guy" (not really, it remains to be seen).
The discussion started when Sia devs hinted to soft-fork SiaCoin and cut off the A3 miner.
Then, critics flooded Reddit:
People who bought Sia-dev's miner ("Obelisk") and Sia-devs interest was to soft-fork (Obelisk buyers wanted ROI, and SIA-devs wanted their miner to profit).
People who bought A3 miners, and traders (here I am), didn't wanted a soft-fork. (A3 buyers wanted ROI, and traders didn't wanted a crash on the price)
The main concern was that a soft-fork will give a monopoly of miners to Sia-devs, and words like "greed" were all over Reddit.
But Sia-devs today decided to no-soft-fork, and let A3 miners work, inviting competition, "free market", "fairness", blah, blah; almost everybody was happy with that (except some Obelisk early buyers, but not all of them).
The new problem is that miners are not spreading the hashing power, and concentrated all on one pool: siamining.com:
------------
So, we have a +7000% increase on difficulty, the soft-fork was cancelled, the price didn't moved yet, but the network is in danger of a 51% attack.
So, what happens next?
Things were hot on SiaCoin community this last days:
Chinese company Bitmain created an ASIC miner called A3, to mine exclusively SiaCoin [Blake(2b) algorithm] and delivered in 10 days.
The problem was that Sia devs also created a miner, sold it for 1.5BTC last year (June 2017) and promised to deliver this year (June 2018); and now, people who bought it, got screwed by the chinese "bad guy" (not really, it remains to be seen).
The discussion started when Sia devs hinted to soft-fork SiaCoin and cut off the A3 miner.
Then, critics flooded Reddit:
People who bought Sia-dev's miner ("Obelisk") and Sia-devs interest was to soft-fork (Obelisk buyers wanted ROI, and SIA-devs wanted their miner to profit).
People who bought A3 miners, and traders (here I am), didn't wanted a soft-fork. (A3 buyers wanted ROI, and traders didn't wanted a crash on the price)
The main concern was that a soft-fork will give a monopoly of miners to Sia-devs, and words like "greed" were all over Reddit.
But Sia-devs today decided to no-soft-fork, and let A3 miners work, inviting competition, "free market", "fairness", blah, blah; almost everybody was happy with that (except some Obelisk early buyers, but not all of them).
The new problem is that miners are not spreading the hashing power, and concentrated all on one pool: siamining.com:
------------
So, we have a +7000% increase on difficulty, the soft-fork was cancelled, the price didn't moved yet, but the network is in danger of a 51% attack.
So, what happens next?
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