Bitmain just release their ASIC for the CryptoNight algorithim. The XMR devs said they were going to use emergency PoW hardfork if this happened because of muuh centralization
getmonero.org
So if monero goes through with the hardfork, will the value of both chains be worth more than the current chain right now? is this like the ETC / ETH split, or is it more like BTC / BCH split? do i just hold my XMR on the gui wallet?
it is like the regularly scheduled ETH hardforks, or the Garlicoin hard fork, or whatever.. its a network upgrade, not a fork where 2 chains exist afterwards. its not a contentious fork, the old cryptonight chain dies off and everyone continues on the new tweaked algo. you aren't getting airdropped free coins, its just about kicking the asics off the network
THE MADMAN
anyone remember those salty siacuck tears?
RIP Monero
do you think that there is a possibility die hards of the old chain will keep it alive?
There won't be a second chain after the pow change, you absolute brainlet.
why not?
no one wants bitmain to control xmr
I would unironically place total network control on xmr devs, after all, democracy doesen't work when there are retards out there
Because asiics
Bitmain is on a roll, they probably had these mining in October printing cash money.
That'd be against the whole point of this fork
For you low IQ brainlet:
Bob has a pizza restaurant making money
One day John pops out
John is a monster who throws huge shits on pizza restaurants
Bob won't be able to continue if he stays as a pizza restaurant
Therefore he now becomes a burrito one
Wow compelling comment. You must be a fucking retard
That's exactly what they do.
1) Use the ASIC to mine until profitability drops below their desired level.
2) Sell the ASIC to end-users for even more profit.
rinse and repeat.
It's a good game, I wish I would have thought of it.
It would be more accurate to say Bob has a pizza restaurant that is making money and runs a promotion that gives everyone who participates a very small piece of a pizza.
John figured out an exploit that allows him and anyone he tells a whole pizza and prevents anyone else from getting even the tiniest slice.
Bob is obligated to honor the promotion if he continues running the same legal pizza entity. To combat this he changes the name and creates an entirely new pizza company that doesn't have the exploit and leaves the other one unmanned.
John then throws a shitfit saying it isn't fair that he can't game the system anymore.
Good. At least they have balls unlike the Litecoin devs.
You have to hard fork to change POW, so by definition there will be two chains you brainlet. Monero and Monero Cash.
Any hash algorithm can have an ASIC built for it. By avoiding using ASIC's early a coin is susceptible to a large government paying someone like Intel to make an ASIC for a mining algorithm that the crypto space is ASIC resistant. If a government does that they can own any non-ASIC coin. ASIC coins are exponentially more secure than non-ASIC coins.
That's where proprietary software and patents have its advantages. You protect your intellectual property from being tainted/copied by the chinese.
then john occupies the former restaurant and operates it as a pizza parlor while serving shit in a box and calling it pizza. all he wanted was free pizza and now he is a pizza shop owner who only knows how to shit everywhere
fucking brainlets how is thinking about it going to help anything. u have to program the asic
> LOL Muh decentralized currency
>Muh lolbertarianism dream
The chinese asic manufacturer bitmain are already mass mining your fucking crypto ,they manipulate your precious market and mining hash rate.
They then dump their used miners on dumbs fuckers when they are done with them so as again to reap profits on gullible idiots.
>thinking that would stop them
kek
So the recent Ethereum hardfork gave birth to a new chain? If it has no hashing power behind, it's not a new chain.
Then what the fuck are Apple, Microsoft, Google and other Mega Corporations doing.