Monero is going to fork next month probably max to 18 oct, does ETN will switch also to CNV8?
No, we are no longer on the same route as Monero.
I guess we’ll see a small patch to address the burning but found in Monero code. But we won’t be forking along with Monero to keep up with ASIC resistance and other privacy features.
We are asic friendly, very nice.
Lets be real in something i know someone will disagree this.
But we are bad because we are from ASICS side.
I will explain you all this:
- Asics make millions of ETN per month.
- There users who had 5-10 asics machines and make alot ETN per day.
- There a target of bbnet which run alot ASICS make 100-200k ETN per day.
When price increase to 0.5$ example, this people will manipulate market and we will never grew up.
Because real miners not ASICS, GPU will never manipulate.
The released amount of ETN is “fixed”, asic or no asic, the same amount is released, they don’t “make more coins” than GPU
That experiment has already been run to bad effect. The gpu folks did not show up in sufficient numbers to keep a stable hashrate. This caused the network to get hit with surges of hashrate and quick blocks followed by very long periods of no solved blocks. It simply did not make business sense to keep it that way. The network has been very stable since they switched back to be asic friendly.
I believe ETN will not be forking but if you ask nicely ETN will spoon with you!
The problem is that the exchanges allow this to happen in the first place.
ASICS make 100x double GPU.
Be real when you reply.
Because ASICS kill the Crypto Coin, example the network is now 6Ghz.
Example: Antminer X3 - Gives 200kh+ some people get 232kh, i know a person who has 5x of this. So 5*200kk=1Mh ? Right… 1Mh Provide: 65167 ETN Per month / 91 ETN Per hour.
Normal ASIC Ant Miner X3 with 200kh, get 13k ETN per month.
Tell me now how do you feel when was GPU? The gpu a rig with 6x 1060 was getting 5-6k per month, tell me a rig with GPU who will make a 65k per month? None.
Another thing, there a farms that has more than 50 ASICS, they make 600-800k per month or more. I dont talk about how much coins can be mined, i talk how much some people can get, imagine that farm rule by few people if one day ETN want to grow up they will manipulate the market will sell always lower than real, because they make millions / millions etn, if it come to 0.5$ they probably will have billions etn that time.
The network with only GPU reach 60-100mh, which is good for ETN, because time by time that mh will grow up more miners will come, and when price rises to 0.1, we will see a higher mh. But now ASICS rule the coin, imagine a guy who has 5 asics 1mh / 65k coins per month, when price target 1$ he will sell at 0.6-0.5, he wont wait people to buy his coins for 1$ he will think to get more money that time and to sell faster, that happend to monero when was target by asics, they put price down everytime at Cryptopia, and other exchangers there was people who sell 5-10k moneros / 100k moneros for 20% lower price than real. They put price down.
I have 3 asics. I am mine and hold as are many of the asic owners. Mining farms that dump all they produce also exist for gpu. If folks want to mine and dump the coin needs to do something to drive the value up. Electroneum is doing this. If they had not switched to asic we would still be stuck with a network too unstable to move forward. The time and resources needed to combat asics distract from more important things.
Also your numbers for how much can be produced with asics are out of date. The hashrate keeps climbing. My current daily return on 3 overclocked x3 asics is expected to be between 1000 and 1100 etn today. A couple of months ago this was 3000±. Ultimately miners will fill the gap until only people with cheap electric will be able to mine for profit. This is true for gpu and asic. The amount of coins produced each day is in no way correlated to whether a coin is asic friendly or not. The target block time stays the same, the block reward schedule stays the same. It adapts to the hashrate provided.
Big miners are not dumb. They are not bots. If they are pretty sure they will profit by holding they will. So long as their overhead is covered that is.
The dumping in monero was as much caused by botnet mining as anything. That and the hostility some governments have for privacy coins and the potential for money laundering that goes with them does not make for good long term holding risk. Hence mine and dump.