Monero And Siacoin Reject Bitmains Asic Miners, Who Could Be Next?
Monero and SiaCoin Reject Bitmains ASIC Miners, Who Could Be Next? ASIC cards threaten the network security, cryptocurrency developers concerned. On March 24 the creators of Monero made an unprecedented statement - the project devlead, Riccardo Spagni, warned that the coins protocol would be changed every six months to make the cryptocurrency less appealing to application-specific integrated circuit (ASIC) miners. The measure was initiated after Bitmain announced a new super powerful Antminer X3 ASIC miner designed specifically for calculations based on the CryptoNight algorithm, which is the basis for such cryptocurrencies as Monero (XMR), ByteCoin (BCN) and AeonCoin (AEON). The dominance of Bitmain shook the reputation of industry giants AMD and Nvidia, whose shares fell sharply after Wall Street firm Susquehanna reported that Bitmains new Ethereum miner would increase its competitiveness on March 26. Manufacturers of miners monopolize the market Today, when the cryptocurrency market becomes stagnant, mining may be the only way to earn profit. This forces the largest manufacturers of video cards and specialized ASIC chips to bring new, more productive models of devices to the market. ASIC-based miners overtop competitors CPUs and GPUs, creating a real threat of mining concentration between the largest players provided with the most powerful equipment. Some in the Blockchain community are concerned about such kind of centralization that could damage network security. Actually decentralization based on the miners competition helps to defend the system and its participants, protecting the network from intruders. That's why the token developers are forced to create artificial obstacles to the use of ASIC equipment. Due to the present monopoly on the production of ASIC mi Continue reading >>
Manufacturer Holds Cryptonight Asic Firesale After Monero Hard Forks
Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks Join our community of 10 000 traders on Hacked.com for just $39 per month. Mining hardware manufacturers have begun selling Cryptonight ASIC miners for next to nothing after privacy-centric cryptocurrency Monero carried out its threat to adopt a hard fork to maintain ASIC resistance. Last week, Monero activated its semi-annual hard fork , an update that included an alteration to its instance of the Cryptonight Proof-of-Work (PoW) consensus algorithm. This particular update had one purpose: ensure that no currently-existent Application Specific Integrated Circuit (ASIC) miners are compatible with the Monero network. The hard fork came weeks after Bitmain the dominant ASIC manufacturer and a subject of scorn among many cryptocurrency communities unveiled the Antminer X3, its first Cryptonight ASIC miner. At least one other manufacturer lesser-known company Baikal Miners claimed to have developed a Cryptonight ASIC, an announcement it made several days before Bitmain went public with the much more powerful Antminer X3. Though vastly more efficient than GPU-based miners, ASICs have a critical vulnerability they cannot currently be reprogrammed. Consequently, fundamental changes to a PoW algorithm can brick them permanently. While the devices are still compatible with other Cryptonight coins, there is little consumer demand to mine an algorithm headlined by Electroneum, Bytecoin, and Sumokoin. Consequently, Bitmain and Baikal are sitting on piles of now nearly-worthless devices, and while Bitmain can likely stomach the losses due to its reported $4 billion in profits last year, Baikal may have bitten off more than it can chew. To wit, the Hong Kong-based firm is now offering a five-for-one deal on its Cryp Continue reading >>
A Word Of Warning About Cryptonight Asic Miners Antminer X3, Baikal Giant-n, Pinidea Rr-200
So, what will happen if you will start mining those small coins? The price of a product depends on its supply and demand balance. Lets take the average unpopular CryptoNight coin as an example. Say, youve decided to mine the Intense Coin (ITNS). With the coin having a network hashrate of only 3.41 MH/s, your Antminer X3 will be cashing you ITNSs worth a whooping $ 8365 USD/month. The issue is the daily trade volume of the coin hovers around $ 2.600 USD. Can you imagine what will happen to the price of the coin once you will start dumping thousands of ITNSs worth $8365 into the market every month? What if a couple of hundred people with their X3 miners join you? What will happen to the price of the coin then? Everyone makes their own conclusions from this. Some people dont read the main article where Monero devs explain why ASICs are a threat and criticize Monero for their decision. Others take the opposite side and accuse ASIC manufacturers of selling their used X3 miners to the unaware public to make some profit from those units while they can. Personally I dont take sides, though here is what I think: buying ASICs is always risky you never know where the coin price and difficulty will be in a week, let alone in a year. Now, with Monero devs being against this ASIC, I believe that its even riskier to get involved into Monero ASIC mining by buying an Antminer X3. Again, I am not taking sides in this and I am not giving any financial advice here it is up to you whether you will take this risk or not. I am only sharing some relevant info in hope to help you to make a more informed decision. Your opinions and comments are more than welcome However, please avoid commenting any hate speech against either ASIC manufacturers or Monero because there is enough of that on Reddit Continue reading >>
Monero Miners In Uproar After Panic Algorithm Change Due To Asics Coming Online
Monero Miners In Uproar After Panic Algorithm Change Due to ASICs Coming Online Bitmain has found itself in a war with words with the monero community over the release of its latest cryptocurrency miner, the Cryptonight-capable X3. The unit is being offered at a discounted rate to existing customers, but critics claim this is because the miners will soon be ineffective at mining monero, the main coin to use the X3s Cryptonight technology. Monero lead developer Riccardo Spagni has emphasized that the units will not work on monero due to a scheduled hard fork designed specifically to outwit the Cryptonight algorithm. Also read: Large Glassware Plant in Siberia to Mine Bitcoin We are pleased to announce the all-new Antminer X3, to mine cryptocurrencies based on the Cryptonight hashing algorithm, tweeted Bitmain cheerily on March 15. The new units would start shipping instantly, limited to one per customer to prevent hoarding. The price would even be dropped to $3,000 for existing customers, according to an email . Posters on moneros reddit board have urged buyers not to purchase the units due to the scheduled change to the coins Proof of Work algorithm. Others have gone so far as to accuse Bitmain of mining with the machines for months, and only shipping them now that moneros algorithm is due to change, rendering them useless. Cryptonight, the chipset fitted to Bitmains X3s, has turned into a crypto nightmare for anyone whos been trying and failing to subsist off monero mining this year. As one keen-eyed observer spotted , after Bitmain took possession of the chips, moneros hashrate rocketed. The monero team, led by Riccardo Spagni, whos referred to Bitmain as a known bad actor, struggled to work out what had happened. A monero mining botnet that had infected millions of Continue reading >>
Baikal Giant N Cryptonight Miner Fun
March 28, 2018 by Scott 0 Comment 57170 Views Several manufacturers have been creating ASICs for many algorithms. Baikal, one of the first to create an X11 ASIC, has now also brought one of the first Cryptonight ASICs to market. The Baikal Giant N is a Cryptonight ASIC that runs at 20 KH/s (kilohash per second) while drawing only 60 watts. As you can imagine, to get the same out of a GPU rig would take a bunch of GPUs and take roughly 2,500 watts or more, depending on the GPUs and settings. Its no surprise then that not only would they be in demand but also expensive. The Giant N currently runs $1,900 USD but was recently $3,200 to $3,800, depending on where you were buying it from. Also Read: The Antminer V9 Is a Good Lower-Cost Miner If You Have Cheap Power Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: But theres more to this story than just new ASICs for Cryptonight. The Monero dev team and part of the community have decided that they want to stay ASIC resistant, and will fork within a few weeks or less from the time of this review to a new algorithm to make any existing ASICs unable to mine Monero and harder to develop one for the new algorithm. We are not going to delve into the politics of ASICs, though. We will instead focus on the miner itself and how it performs. The specifications are great (power draw to KH/s wise) and encompass two algorithms. Note: Miner comes with two adapters one for an AC Adapter Also one for a PCIe connections to 3 tails as 1 PCIe cable can power entire miner The Giant N arrived safely packed with no loose heat sinks or connections. The first thing you might notice is, like many of Baikal miners, its not very big. The miner has three boards, backplane and an Orange Pi Zero for th Continue reading >>
Cryptonight Asic Miner - Crypto Mining Blog
All About BTC, LTC, ETH mining as well as other alternative crypto currencies Innosilicon A8+ CryptoMaster is Yet Another CryptoNight ASIC Miner Innosilicon is also joining the game with CryptoNight ASIC miners as the company has just announced their new Innosilicon A8+ CryptoMaster. An ASIC miner for CryptoNight capable of delivering 240 KH/s with 480 Watts of power usage with delivery time starting from 16th April, 2018. No official word on pricing yet announced, thouhg they should be cheaper than What Bitmain is currently selling their X3 miners at in order to be competitive since Innosilicon is slower, but will start shipping earlier. Here are the official specifications of the Innosilicon A8+ CryptoMaster CryptoNight ASIC miner. Innosilicon advertises the device as suitable for mining many currencies on the CryptoNight, including XMC, ETN, KRB, DCY so just 4 of the many. Do note that Monero (XMR) has already forked to the new CryptoNightV7 POW and will not be compatible with these ASIC miners, other coins using the old CryptoNight algorithm have akso forker or are planning to fork soon to the new V7, so by the time you get the device the many coins may be just a few. Bitmain Antminer X3 Cryptonight ASIC, New Batches and New Prices It seems that some people think that Bitmain has lowered the prices of their upcoming Antminer X3 Cryptonight ASIC miners, however that is not true, the company has just released new Batches 3 and 4 for pre-order and has removed the first two super expensive ones . Batch 1 of the Antminer X3 had a price of $11999 USD and should start shipping by the end of May and Batch 2 had a price of $7599 USD by the end of June. The prices of the first two batches are very important as well as their shipping dates are tied to the two new batches, so Continue reading >>
Manufacturer Holds Cryptonight Asic Firesale After Monero Hard Forks
Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks Mining hardware manufacturers have begun selling Cryptonight ASIC miners for next to nothing after privacy-centric cryptocurrency Monero carried out its threat to adopt a hard fork to maintain ASIC resistance. Last week, Monero activated its semi-annual hard fork , an update that included an alteration to its instance of the Cryptonight Proof-of-Work (PoW) consensus algorithm. This particular update had one purpose: ensure that no currently-existent Application Specific Integrated Circuit (ASIC) miners are compatible with the Monero network. The hard fork came weeks after Bitmain the dominant ASIC manufacturer and a subject of scorn among many cryptocurrency communities unveiled the Antminer X3, its first Cryptonight ASIC miner. At least one other manufacturer lesser-known company Baikal Miners claimed to have developed a Cryptonight ASIC, an announcement it made several days before Bitmain went public with the much more powerful Antminer X3. Though vastly more efficient than GPU-based miners, ASICs have a critical vulnerability they cannot currently be reprogrammed. Consequently, fundamental changes to a PoW algorithm can brick them permanently. While the devices are still compatible with other Cryptonight coins, there is little consumer demand to mine an algorithm headlined by Electroneum, Bytecoin, and Sumokoin. Consequently, Bitmain and Baikal are sitting on piles of now nearly-worthless devices, and while Bitmain can likely stomach the losses due to its reported $4 billion in profits last year, Baikal may have bitten off more than it can chew. To wit, the Hong Kong-based firm is now offering a five-for-one deal on its Cryptonight ASICs in a bid to recoup something anything from the funds it poure Continue reading >>
Cryptonight Asic Review: How Do These Cryptocurrency Miners Work?
When it comes to cryptocurrency-mining , new resolutions are coming up. It started with CPUs, advanced to GPUS and FPGAs. Today, ASIC miners are the best crypto mining tools , and soon the AMD Vega cards will be phased outor they will be used less often. The latest invention in the area of crypto mining is Cryptonight ASIC, which this article is all about. Miners utilizing both CPU and GPU mining technologies are already worried about the Cryptonight ASIC technology, which comes with a faster hash rate and competitive prices. Besides, mining using small scale CPU or GPUs requires much hashing power from the hardware, yet the profitability is lower based on price of the mined coins. This is a major concern, especially for those who are mining altcoins such as Monero, Electronium, or other coins that utilize the Cryptonight algorithm. Recently, Baikal and Bitmain announced that they would soon introduce ASIC miners for the CryptoNight algorithm. Well, with the introduction of CryptoNight ASICs, the Vega GPUs that command 2 KH/s might be obsolete. This is because the new set of miners will embrace CryptoNight algorithm and already it looks like they will achieve their goals. Both Baikal and Bitmain have launched new mining machinesthe Giant-N and Antminer x3 respectively. Both machines will be shipping out soon for the Cryptonight algorithm. To this end, its important to understand what Cryptonight ASIC machines are, what they are capable of doing, and how they will disrupt the GPU miners, CPU miners, and gamers. ASIC is an acronym for Application-Specific Integrated Circuit. It is a digital currency mining machine, which is capable of mining only one algorithm or two at most. ASIC miners are specifically designed for that purpose, unlike the GPU cards. They work really w Continue reading >>
Bitmain Cryptonight Asic Miner Announced!
Bitmain CryptoNight ASIC miner announced! Bitmain has announced today that new Antminer X3 ASIC miners for mining CryptoNight-based currencies are now available for orders. The miner is reported to produce about 220 kH/s hash rate, consuming 550W of power. The first batch of the ASICs, worth 11,999 USD is planned to be shipped after May 15. To provide more people around the world with the opportunity to purchase an ASIC, Bitmain is setting a limit of one piece per client. One of the goals of CryptoNight creators was to provide egalitarian approach towards mining, making CPU and GPU mining roughly equally efficient and prevent the use of ASICs, as a megabyte of internal memory required was almost unreachable for that-time ASIC hardware. While some are obviously happy for the chance to increase their hash rate even at the current price, this news has caused concerns in CryptoNight community and some adopters are anticipating that it will prompt the forks for some of the coins from CN family. By Monero.org Team |2018-03-15T12:26:36+00:00March 15th, 2018| News |Comments Off on Bitmain CryptoNight ASIC miner announced! Continue reading >>
Baikal Giant N - Cryptonight, Cryptonight-lite Fpga/asic Miner
Baikal Giant N - Cryptonight, Cryptonight-lite FPGA/ASIC miner First of all, if you find this useful, give me some +Merit Delivery within 7 working days after receiving payment. Laptop or Led PSU adapter to 3x 6pin PCIE, PSU 12V 10A minimum. Baikal haven't confirmed possibility to adapt algo for Monero hardfork. AEON, ETN, INTS and a lot other not very popular coins. Buy Mining Bios with Performance Timings Mining-Bios.eu XMR-AEON-STAK miner, 1% dev fee + support POW forks, MoneroV7, CN-Heavy (SUMO, XHV, XTL), Lite V3, V7 (IPBC, AEON),...Guides: RX 470/480/570/580, VEGA Bios Mod Tutorial - SRB, PBE How to Mine Monero / Sumokoin + Miners Downloads Guides: How to Mine AEON + Miners Downloads Guides: How to Mine Electroneum + Miners Downloads Bios mods and performance timings E-mail: [email protected] Did I help you? Hit +Merit on my post. Automated Bitcoin Fork Extraction Tool WE DO TOUGH WALLETS: BCH | BTG | BCD | SBTC | UBTC | B2X | BCX | BTF Electrum 2FA, Trezor, Ledger, SegWit, Bech32 Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. At this point I think we are being played by asic manufacturers. Build an asic prior to releasing a gpu resistant coin. You know the rest. Anyway most coins will see an asic because the manufacturers know that only they make the money in mining Goes back to the gold rush and shovels analogy. Gpu mining is gonna die. Do you remember the story coming out a while back that said Nvidia and AMD both are preparing for decrease in sales. This now makes sense since they would be in the know on when these ASICS are being made. Looks like those that heavy invested Gpu gonna cry As in nature, all is ebb and tide, all is wave motion, so it seems that in Continue reading >>
Pow Change And Key Reuse
Posted by: dEBRYUNE, dnaleor and the Monero project Lately, a common reoccurring subject has been ASIC resistance and how we should react to any (potential) threat from ASICs. This blog post sets out our (somewhat) formal stance on ASIC resistance and our intention to maintain ASIC resistance by swiftly reacting to any potential threat from ASICs and considering slightly modifying the PoW at every hardfork. An ASIC (Application Specific Integrated Circuit) is custom mining hardware that is specialized for a particular use. For example, Bitcoin ASICs are specialized to mine cryptocurrencies utilizing a SHA256 hash algorithm. Due to the fact that they are designed for a specific use, they will typically have a large performance advantage over hardware that is intended for general-purpose use like CPUs, GPUs, and even FPGAs. Thus, any newly developed ASIC will obtain a significant majority of the network hashrate and introduce centralization. The Monero code was forked from the CryptoNote reference implementation. In the CryptoNote whitepaper (one of the identified deficiencies of Bitcoin is the Proof of Work due to its centralizing nature, as we will discuss below. In order to create a more egalitarian mining network and foster decentralization, the original CryptoNote developers created the Cryptonight Proof of Work function to "close the gap between CPU (majority) and GPU/FPGA/ASIC (minority) miners." While the CryptoNote authors admit that "It is appropriate that some users can have a certain advantage over others," they propose that "their investments should grow at least linearly with the power." Thus, it is recognized that ASICs may be an inevitable development for any Proof of Work. We also concede that ASICs may be inevitable, but we feel that any transition to a Continue reading >>
New Asic Miner | Beats The Asic Proof Design Of Cryptonight
Mar 12, 2018 7712 Views Jose Antonio Lanz New ASIC miner announced for sale beats the Asic Proof design of many CryptoNight-based altcoins The world of technology never ceases to be astounding, and those who keep up with its innovations must always be on as there are often changes that leave us speechless. In fact, the world moves so fast that it would be strange not to encounter at least onerevolutionary announcement per week. The philosophy behind the development of cryptocurrencies is one of the reasons why several people decided to support and adopt their use (have you ever seen anyone criticize Ripple, Monero, Bitcoin Cash or Venezuelan Petro, just because?, or why ETC rivals so much with ETH?). In the case of consensus algorithms, developers visions of what their crypto-currency should be, often influence their decisions, beyond just saying screw it Ill just go with profitability!. The CryptoNight consensus algorithm was created to solve the rich get richer problem involving the use of traditional PoW algorithms (how many could afford a decent bitcoin mining rig four years ago, and how many can afford it now?). And it looks like they had it all figured out, creating a code that used a level of operations in memory far superior to that supported by traditional ASICS (if you are one of those tech geeks, an in-depth explanation can be found here ). However, in the early morning of March 11, 2018, the twitter of a small (and little-known) ASIC manufacturing company, announced something that could represent a landmark in the world of mining (let alone another new victory in hardware) the first ASIC miner designed explicitly for cryptos using the CryptoNight/CryptoNight-Light algorithm. While a few days ago there was a rumor that mining giant Bitmain would be developin Continue reading >>
Wtb Bitmain Cryptonight Asic Miner [serious] : Monero
Monero can't be hacked to steal your funds, due to the power of distributed consensus. This means that you are responsible for your own money, and don't have to trust any entity to keep it safe for you. The power of the blockchain usually increases security at the cost of privacy, but with Monero's sophisticated privacy-centric technology, you get all of the security benefits of the blockchain without any of the privacy trade-offs. By taking advantage of ring signatures, Monero makes it ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to any particular user. Because of its on-by-default privacy technologies, Monero is fungible, which means that one Monero will always be equal to another. This ensures that there will be no discrimination over the origin or history of your coins, lessening the worry of potential blacklisting by exchanges or vendors. Breaking the guidelines may result in a deleted post and possible ban. Discussion of using Monero to break the law is disallowed. Follow redditquette and the rules of reddit. Continue reading >>
Antminer X3 Cryptonight Mining Asic Overview - Reviews & Features | Cryptocompare.com
These are the most conservative estimates. We expect the miners to deliver higher performance and efficiency when they are ready to ship. 2. There are financial risks associated with mining cryptocurrencies. These risks can be related to changes in the exchange rate of the cryptocurrency or to changes in the algorithm that is used to mine the cryptocurrency. Please deliberate well before making a purchase becausethey will not accept any requests for refund for orders of this batch. 3. To ensure that more buyers around the world can purchase miners in this batch,Theyhave set a limit of one miner per user. 4. Please select the correct address for shipping before you submit your order because, for this batch, the shipping address cannot be changed after the order has been submitted. 5. The shipping cost has been updated bytheir logistics service provider recently. Therefore, the shipping cost for batches that are to be shipped after April 2018 will be slightly different (likely lower) than those that are to be shipped before April 2018. 6. The shipping for this batch will start on a first-order-first-ship basis on 15 May 2018 for orders that Bitmain has received full payment for.They advise you to research and prepare in advance for the customs' clearance in your country to avoid delays or unexpected costs. 7. You will need an ATX PSU with at least 10 six-pin PCIe connectors. There are 3 six-pin PCIe connectors on each hashing board and all three need to be connected to the PSU for the hashing board to operate. Do not connect more than one PSU to the same hashing board. Bitmain recommends the APW3++ to power the X3 8. Separate power supply to control board: there is one additional six-pin PCIe connector on the IO board which must be connected to the PSU to get power. Be s Continue reading >>
240kh/s, 480w, Innosilicon Announces The Most Efficiency Cryptonight Miners---a8+ Cryptomaster Is Coming!
240KH/s, 480W, Innosilicon Announces the most efficiency CryptoNight Miners---A8+ CryptoMaster is coming! Innosilicon, the worldwide leader of cryptocurrency mining ASIC manufacter, just unveiled the exciting world innovative most powerful Dash miner Innosilicon, the worldwide leader of cryptocurrency mining ASIC manufacturer, just unveiled the world innovative cryptonight miner, the A8+ CryptoMaster, which is a huge leap forward against the existing condition. And it will lead the future market with unbeatable price and performance. As everyone knows, Innosilicon A8+ CryptoMaster has many virtues in all aspects: 240KH/s High Efficiency -- Earlier release time is far ahead of the nearest competitors. Ultra-quiet Operation -- You can just use it at home without any noise. Algorithm CryptoNight -- Suitable for mining many currencies on this algorithm, include XMC, ETN, KRB, DCY. Excellent Cooling -- The housing is made of high quality aluminum alloy, active cooling by two fans per tube. Compactness -- The miner is made in a compact housing, and is also light enough, making it an ideal solution in all locations. Reliability -- For each Innosilicon A8+ will be installed a 180 days warranty, which comes into effect from the date of delivery. Simple interface -- Plug and play. Do not need to have any special skills or knowledge in the field of mining 240KH/s is pretty ahead of other miners on this algorithm. Besides, the A8+ owns huge competitive advantage, such as low power consumption, high power efficiency, compact time-tested design and so on. As a result, A8+ can significantly reduce the operating cost and bring higher ROI. Innosilicon A8+ is fully tested and open for order now! Delivery time starts from 16th April, 2018 with superior 180 days warranty. First order, fir Continue reading >>