[XMR] Monero Speculation

[qwizzie]

https://www.coindesk.com/inside-moneros-last-ditch-effort-to-block-crypto-mining-asics
I guess not so great news for GPU miners...

Edit : but good news for Botnets

[img witdh=20]https://i.imgur.com/Lcoyf4Z.jpg[/img]

Lingering concerns

Perhaps a more realistic concern in the mind of Ehrenhofer and others is the proliferation of botnets on the monero network as a result of a
CPU-friendly mining algorithm like RandomX.

This does raise the question : does the end justify the means ?

First of all who cares about the miners? It's security that matters, period.

You wanna mine and profit you are gambling, if you mine for altruism then you don't care.

And having botnets mine Monera and secure the network is always preferable to them attacking legitimate networks

So I don't see any problems at all here.

The problem with having botnets securing the network is that botnets do not have the best interest of the network at heart like normal miners do.
Miners in general behave in a way thats beneficiary for them and do not hurt their network. Botnets basicly change miner behaviour from
honest mining to selfish mining. I prefer honest mining (Bitcoin) over selfish mining (Botnet-Driven Network) any day.

Then one has to wonder if this will all be for nothing anyways, this struggle against the natural evolution of mining (ASIC).
Just my two cents on the matter...


  

[Hueristic]

https://www.coindesk.com/inside-moneros-last-ditch-effort-to-block-crypto-mining-asics
I guess not so great news for GPU miners...

Edit : but good news for Botnets

[img witdh=20]https://i.imgur.com/Lcoyf4Z.jpg[/img]

Lingering concerns

Perhaps a more realistic concern in the mind of Ehrenhofer and others is the proliferation of botnets on the monero network as a result of a
CPU-friendly mining algorithm like RandomX.

This does raise the question : does the end justify the means ?

First of all who cares about the miners? It's security that matters, period.

You wanna mine and profit you are gambling, if you mine for altruism then you don't care.

And having botnets mine Monera and secure the network is always preferable to them attacking legitimate networks

So I don't see any problems at all here.

The problem with having botnets securing the network is that botnets do not have the best interest of the network at heart like normal miners do.
Miners in general behave in a way thats beneficiary for them and do not hurt their network. Botnets basicly change miner behaviour from
honest mining to selfish mining. I prefer honest mining (Bitcoin) over selfish mining (Botnet-Driven Network) any day.

Then one has to wonder if this will all be for nothing anyways, this fight against the natural evolution of mining (ASIC).
 


 

According to Satoshi the profit motive is the only incentive that matters.

everything else is noise.

[generalizethis]

https://www.coindesk.com/inside-moneros-last-ditch-effort-to-block-crypto-mining-asics
I guess not so great news for GPU miners...

Edit : but good news for Botnets

[img witdh=20]https://i.imgur.com/Lcoyf4Z.jpg[/img]

Lingering concerns

Perhaps a more realistic concern in the mind of Ehrenhofer and others is the proliferation of botnets on the monero network as a result of a
CPU-friendly mining algorithm like RandomX.

This does raise the question : does the end justify the means ?

First of all who cares about the miners? It's security that matters, period.

You wanna mine and profit you are gambling, if you mine for altruism then you don't care.

And having botnets mine Monera and secure the network is always preferable to them attacking legitimate networks

So I don't see any problems at all here.

The problem with having botnets securing the network is that botnets do not have the best interest of the network at heart like normal miners do.
Miners in general behave in a way thats beneficiary for them and do not hurt their network. Botnets basicly change miner behaviour from
honest mining to selfish mining. I prefer honest mining (Bitcoin) over selfish mining (Botnet-Driven Network) any day.

Then one has to wonder if this will all be for nothing anyways, this fight against the natural evolution of mining (ASIC).
 


  

It doesn't matter what miners believe or want, the real threat is that due to the economy of scales, asic farms centralize to regions to where electricity and hardware is cheapest. That region right now is China--does anyone really think that  if China's government sees cryptocurrencies as a threat they won't seize operations and destabilize networks? I know people are being chimerical because they can't do anything about the threat, but sticking your head in the sand doesn't diminish the threat. Unless you can make electricity and hardware the same costs the world over, this threat will remain in regards to asics. At the very least we know botnetminers do their best to remain off the grid as that is in their best interest, and while could see states engaging in botnetmining to take control of asic resistant coins, that's more a product of coding, so no one really has a monopoly.

[Globb0]

Bot nets that is so 00's

[bitcoinvest]

you help please,

does it means that we can mine monero with ASIC miners?
I used to mine with GPU's until last year, and i have some asic waiting.
Or can someone please inform what changed or will change with simple words.


thanks

[cAPSLOCK]

you help please,

does it means that we can mine monero with ASIC miners?
I used to mine with GPU's until last year, and i have some asic waiting.
Or can someone please inform what changed or will change with simple words.


thanks

The Monero dev team is trying to make it difficult to build a working ASIC for Monero.  They want Monero to be mined with CPUs. This is meant to avoid mining centralization.

[NeuroticFish]

and i have some asic waiting

If you have ASIC at home, you better check what algorithm is it designed for. An ASIC can't just mine anything that's "ASIC friendly", it can mine only certain algorithm.

[cAPSLOCK]

Is it a headfake or not?

This is ~1.5 months on the daily.

[GingerAle]

https://www.coindesk.com/inside-moneros-last-ditch-effort-to-block-crypto-mining-asics
I guess not so great news for GPU miners...

Edit : but good news for Botnets

[img witdh=20]https://i.imgur.com/Lcoyf4Z.jpg[/img]

Lingering concerns

Perhaps a more realistic concern in the mind of Ehrenhofer and others is the proliferation of botnets on the monero network as a result of a
CPU-friendly mining algorithm like RandomX.

This does raise the question : does the end justify the means ?

First of all who cares about the miners? It's security that matters, period.

You wanna mine and profit you are gambling, if you mine for altruism then you don't care.

And having botnets mine Monera and secure the network is always preferable to them attacking legitimate networks

So I don't see any problems at all here.


snip image

The problem with having botnets securing the network is that botnets do not have the best interest of the network at heart

Actually, botnets *do* have the best interest of the network at heart. They are profit driven. They need the network to work in order for them to make money. Actually, they don't have any interest in the network, which is the best kind of interest. They want the network to keep working so they can make money.

like normal miners do.

Oh you mean like the selfish mining that has and will continue to occur on the bitcoin network? Empty blocks anyone? SPV mining? Those were fun.

Miners in general behave in a way thats beneficiary for them and do not hurt their network. Botnets basicly change miner behaviour from
honest mining to selfish mining. I prefer honest mining (Bitcoin) over selfish mining (Botnet-Driven Network) any day.

Bitcoin mining has not been honest and is predicted to devolve into chaos for the chain. , but thats due to a combination of selfish miners and a lack of block reward.

Then one has to wonder if this will all be for nothing anyways, this struggle against the natural evolution of mining (ASIC).
Just my two cents on the matter...
  

Evolution, exactly. Adapt or die. This is software. Software is free. Hardware is not. Hardware is shackled to the physical, software is free to roam the universe on beams of light. Monero is software. If Monero doesn't adapt it will die, just as bitcoin (in my opinion, obviously not a popular one around these parts, but for some reason people like their dystopian surveillance chain).

And obviously I'm not condoning botnets... I'm just saying that its absurd to cast them as harmful for the network when they are anything but. ASICs on the other hand....

[cAPSLOCK]

Is it a headfake or not?

This is ~1.5 months on the daily.

This is still trying to break up.  I think what bitcoin does is going to have a big effect on the direction this goes. 

The next 24 hours are critical.

Is it true?

[Shnikes101]

Is it a headfake or not?

This is ~1.5 months on the daily.

This is still trying to break up.  I think what bitcoin does is going to have a big effect on the direction this goes. 

The next 24 hours are critical.

Is it true?

Where's my prayer hands emjoi when I need it...

[cAPSLOCK]

You know it's irritating.

I posted something in this thread that was actually geared to speculation.  It was kinda cryptic and possibly worded in a silly way.

My post centered on the state of the bollinger bands.  I posted it last Friday, and behold we might be seeing the beginning of a big move one way or the other...

And yet, my post did not meet the requirements of some jerkass mod?

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Whatever... why actually try to even pretend to bring the sort of content that the thread is about???

I'll just go shitpost on twitter.

[Febo]

https://www.coindesk.com/inside-moneros-last-ditch-effort-to-block-crypto-mining-asics
I guess not so great news for GPU miners...

It is a very good news for GPU miners since ASICs miners producers will have less chance for making a secret miner.

Bot nets that is so 00's

The best post. Botnets are computers running Windows XP.  How much hash power have such computer compared to today's CPUs and GPUs. Almost none. Botnets today are subject that only troll son bitcointalk bother with.

[bitcoinvest]

you help please,

does it means that we can mine monero with ASIC miners?
I used to mine with GPU's until last year, and i have some asic waiting.
Or can someone please inform what changed or will change with simple words.


thanks

The Monero dev team is trying to make it difficult to build a working ASIC for Monero.  They want Monero to be mined with CPUs. This is meant to avoid mining centralization.

Thanks so much for the simple explaination...
So this means that CPUs will be better from GPUs ? And will be available to more users of course yes?

[Hueristic]

You know it's irritating.

I posted something in this thread that was actually geared to speculation.  It was kinda cryptic and possibly worded in a silly way.

My post centered on the state of the bollinger bands.  I posted it last Friday, and behold we might be seeing the beginning of a big move one way or the other...

And yet, my post did not meet the requirements of some jerkass mod?

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Whatever... why actually try to even pretend to bring the sort of content that the thread is about???

I'll just go shitpost on twitter.

WTF??? I didn't even think mods bothered in here. I thought that was the deal and why this is the one thread you can shitpost in?

I doubt Info popped you unless it was a mistake in a cleanup.

Don't even think about not posting in here, there are to few not on ignore as it is!

^^^--- Hah, I thought this was posted in the WO thread. DOH.  

Repost what it was.

Edit: Ohh yeah...Ummm the price is up right?

Seriously though, repost it. It's not your fault if they didn't pick up on it and they are human and make mistakes. It's not like this is a common occurrence is it?

[Hueristic]

info isn't the boss of all the shitposting threds
ah ok you got it lol
mods delete

Reported.

j/k

[Millionero]

A shitload of altcoins have tried to find an ASIC-resistant hashing algorithm

can you name two or three such coins, besides Monori?

[cAPSLOCK]

A shitload of altcoins have tried to find an ASIC-resistant hashing algorithm, to no avail.

Why this time should it be different?

Monero is taking a novel approach with the idea of RandomX.  I believe the plan is if this is not successful as countermeasures that we give up and just go SHA-3 or something.

[cAPSLOCK]

Repost what it was.

I think I said something like:

"Look at them bollinger bands, yo!"

They were starting to look like chopsticks going after a gain of rice.  And now we are seeing a move...  So yeah... quality TA?  Not so much, but at least relevant. 

But BTC dominates and it's making the XMR/BTC drop a little as people fomo into the rising Bitcoin price. 

The question here is ifquality ALTs die on the vine, or if they follow in LTC's footsteps and the bluechip alts actually catch some wind here...  If not that was a headfake and the bollinger bands tightening is resolving in that big move down.

[Hueristic]

A shitload of altcoins have tried to find an ASIC-resistant hashing algorithm

can you name two or three such coins, besides Monori?

Litecoin, myraidcoin off the top of my head, greoshcoin(sp) Darkcoin...

Long list, Tromp originally started Cookoo to be asic resistant.

Repost what it was.

I think I said something like:

"Look at them bollinger bands, yo!"

They were starting to look like chopsticks going after a gain of rice.  And now we are seeing a move...  So yeah... quality TA?  Not so much, but at least relevant.  

But BTC dominates and it's making the XMR/BTC drop a little as people fomo into the rising Bitcoin price.  

The question here is ifquality ALTs die on the vine, or if they follow in LTC's footsteps and the bluechip alts actually catch some wind here...  If not that was a headfake and the bollinger bands tightening is resolving in that big move down.

ROTFLMFAO! Yeah I remember seeing that and was just too lazy to look at a chart.

I also have no clue whats going to happen and am going to steal Gingers "Banana's" for my forecasts.