Baikal Giant-N cryptonight/cryptonight-lite ASIC.......

alex_stief

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May 31, 2016
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I guess that explains the ~75% of the Monero network from unknown sources. It wasn't all botnets, it was Bitmain "testing" their miners.
 
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Joel

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Jan 30, 2015
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I guess that explains the ~75% of the Monero network from unknown sources. It wasn't all botnets, it was Bitmain "testing" their miners.
True that. I was reading a discussion on r/Monero earlier today (I can't quote it because reddit doesn't work at work); someone commented that the ASICs were probably placed in service in mid-Septemberish. Basically, the huge surge in difficulty equated to ~400,000 Vegas placed in service over about a month (basically impossible with the HBM shortages), or about 4000 of these units (totally doable for Baikal/Bitmain). Actually it wouldn't shock me if we find out later that the "botnets" were FUD spread by Baikal/Bitmain.

They also said that this proves that it's basically impossible to create an ASIC resistant algorithm. Give the ASIC makers 3-6 months and favorable economics, and sure enough they will make it. There are probably ASICs out there for equihash already (just we haven't heard about them).

All this to say, I've really soured on the entire concept of cryptocurrencies. 'Twas a great idea cooked up by some utopian dreamers, dashed on the hard rocks of reality.
 

MiniKnight

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Mar 30, 2012
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But what happens to them if the algorithm changes? Do the ASIC's value go to near 0 for Monero? Will the difficulty drop like a rock?

Those are the major questions I think need answering.
 

garetjax

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Nov 26, 2017
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Someone posted a chart in the bitcoin talk thread on the baikal for feb, 70% of monero mining wasn't the big pools ie it was unknown ie asic, javascript bots etc. How much of it was these new asic miners?
 

onsit

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Jan 5, 2018
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But what happens to them if the algorithm changes? Do the ASIC's value go to near 0 for Monero? Will the difficulty drop like a rock?

Those are the major questions I think need answering.
Probably not, people will speculate that the difficulty will drop. And hit the living crap out of Monero with Nicehash to mine the dip. Probably not 500MH/s worth - but I highly doubt we will see difficulty drop to September levels.
 

Marcus Fain

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Feb 25, 2018
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I wonder if the initial batch was not already in the market mining Monero given the difficulty increase it has seen. At these specs, you could essentially run them for a few months, then push to the market just before you knew Monero would hard fork.
My big question right now is that FPGA ASIC miners can be brought down by changes by Monero and any fork, but can server CPUs adjust to any changes and keep on mining?
 

pyro_

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Oct 4, 2013
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They would just need to have updated miners installed on the server and should be good to go
 

Joel

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Jan 30, 2015
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My big question right now is that FPGA ASIC miners can be brought down by changes by Monero and any fork, but can server CPUs adjust to any changes and keep on mining?
That is the hope. I've heard Monero was going to just switch to the Equihash algorithm, which would pretty much kill CPU mining for all but the botnets. Plus there are probably already Equi ASICs out there that just haven't been "released" yet.
 

MiniKnight

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They would just need to have updated miners installed on the server and should be good to go
Depends on what the change is. Maybe the hard fork delay was to get one of these and ensure that the hard fork breaks the ASICs?

If Monero leaves, CN will be worthless.
 
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leerees

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Feb 15, 2018
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When the hard fork happens what do we actually have to do? Do we need new wallets, confused..
 

its

New Member
Mar 14, 2017
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When the hard fork happens what do we actually have to do? Do we need new wallets, confused..
Monero forks every six months. I think most of the time you download new wallets. Certainly in this case.
 

nfsden

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Apr 6, 2016
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it's seems that this network hashrate increase since december was caused mainly by ASICs/FPGAs
 

Joel

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Jan 30, 2015
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Honestly, Petronas sounds like a shiller. Sure they run great... for another few days, until the hard fork.
 
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marcoi

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Apr 6, 2013
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what i would like to see is the following details.

Unit cost:
Lead Time from order:
Hash Rate and coins it can be used for:
Electric used while running:
Average monthly profits (using todays market value) vs electric used:

Not that i plan on getting any units, but it would be interesting to gather the data and compare it to other mining options.
 

onsit

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Jan 5, 2018
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This is some top shelf shilling right here. Joined today, claims to have $30,000 in ASICs.
 
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Joel

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Jan 30, 2015
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This is some top shelf shilling right here. Joined today, claims to have $30,000 in ASICs.
...that are about to be some really expensive paperweights. How much you guys wanna bet he'll post an FS ad with an unlimited quantity available? :rolleyes: