Within 1 year

Watch closely. You could have a couple months, maybe more, maybe less.

When people figure out what the fuck is going to happen, there will be panic.

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im dumb opie, pls explain wats going to happen?

That calculation, is for 1 machine.

I'm guessing he implies there will be an ASIC developed.

Any word on what and who will produce this monster? I'd like to buy 5 for my garage upon launch.

Russians.

Nah. That thing is bullshit. No way RMC is going to deliver on their hypothetical multiclet or whatever they call it. Physically impossible.

How will people panic? Unless the manufacturer keeps the ASICs for themselves to do double spending attacks, I don't see why this would create more panic than when ASICs where made for Bitcoin. Am I missing something?

The network rate is small.

The jump to this kind of asic, even at a fraction of the hypothetical hashrate, would absolutely dominate the network.

Sure but if the ASICs are available to everyone to buy, I don't see how it would change anything besides making the old hardware obsolete. If they sell 10k of these ASICs and they are distributed in a way such that no one control enough to make 51% attack, how will it make people panic? The miners with old hardware might "panic" but the users would be unaffected.

If they can dominate the network, why would they sell enough to relinquish a majority share of the hash power?
If they hold a monopoly on the supply and distribution of the hashing power, they can easily maintain a monopoly.

>If they can dominate the network, why would they sell enough to relinquish a majority share of the hash power?

Because otherwise the blockchain is worthless and their investment is too....?

then nobody would want shit XMR ...

I'm a total noob but I think I maybe get it. Someone help.

Basically Monero is going to allow ASIC to mine but right now ASICs cant mine Monero? So when they allow it whoever has ASIC can make tons of moneys?

Am I right or justretarded pls help I want to know things

If some manufacturer made ASICs that good. They'd be able to sell them for a lot. They could also keep them for themselves to destroy XMR, but I don't see why they would chose to do that instead of selling the ASICs. AMD and NVIDA are selling their GPUs to ETH miners, they don't keep them for themselves to mine and control ETH.

It's not like they can disallow people to use ASICs, they are not a government powerful enough to enforce such laws. However...

Cryptonight (the PoW hash used by Monero and most Cryptonote coins) does not lend itself well to ASIC development, for the following reasons:

Cryptonight requires 2 MB of fast memory to work. This means that parallelizing hashes is limited by how much memory can be crammed in a chip while keeping cheap enough to be worth it. 2 MB of memory takes a lot more silicon than the SHA256 circuitry, for instance.
Cryptonight was designed to take advantage of the AES-NI instruction set, which uses existing hardware circuitry on modern x86_64 CPUs to speed up AES operations (Cryptonight is based on AES, a modern symmetric cipher). This means that at least some of the work done by Cryptonight is already being done in hardware when run on modern consumer machines.
There has been some talk of replacing the PoW algorithm with Cuckoo Cycle (an alternative PoW hash designed to be ASIC resistant too, see details about it at github.com/tromp/cuckoo). If such a switch happened, the R&D cost of developing a Cryptonight ASIC would be lost in large part, since they could not be used for Monero anymore.

its not a matter of monero allowing them but for someone to develop them

>already being done in hardware when run on modern co

The chip is already mapped out for Cryptonight and Etash. It's far more effective on the former however.

You can hold a majority share without crippling a network. Split it up into several different pools.

Use your heads

Y'all stupid as fuck. Do you know how hard it is to get high yield dies with a lot of SRAM? Even if they went with smaller dies with less SRAM you're still talking about hundreds of megs of the stuff for any sort of competitive hashrate, and the rig is going to be in the tens of thousands of dollars at this point.

Not to mention the predetermined hard fork schedule. If the threat of an ASIC, however unlikely, does come true - the PoW algo will just get changed. Of course, that'll actually hardfork Monero for real rather than just being a "passive upgrade" fork. Muh Monero Cash?

Dude, the hashrate doesn't translate. A rig that mined at 192mh/s for eth was capable of 4h/s for monero a few months ago. Check your specs