Someone explain me this shitcoin

Someone explain me this shitcoin

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kys

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Only good if you own a bot net.

You probably don't even understand basic cryptography faggot

They already have ASICs ready for this

>le asic resistance meme

you mean they are dumping their soon-to-be-useless asics on retards

A coin that tries to be as anonymous as Verge.

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They'll make a new one each fork. Monero trades too high not to make it worthwhile

They just need to fork earlier now they're aware of that, don't know if they're capable though

lmao sure
Then it will just keep forking, let's see those asic investors cry after each one

its a "privacy" coin. Basically they know what you do with it, they just dont say anything yet

Wow is this other shitcoin still around? Aren't they just routing the traffic through tor

Fucking retard. It takes months to make a asic.

They only fork twice a year, and there aren't infinite number of cryptographically secure hash functions, especially ones that don't have ASICs. I don't think it's sustainable

So? They did it once they'll do it again

Let me correct user, it takes months and millions- Obviously someone posting on Veeky Forums wouldn't know anything about oportunity cost/risk

Just wait for the websites start using monero miners instead of AD's.
Asic's will have to compete with worldwide used botnet.
Also it takes time to design and produce them.
The problem is not in the very fact that bitmain can mine monero, asics would just make mining centralized so even if they keep on producing new asics for every fork noone cares.

Yeah that's why they did it to begin with? Because no one knew about the secret fork that was known to literally everyone. Good thing user did his back-on-the-envelope calculations and proved that it's not worth it while those dummies went ahead and made their worthless ASIC without ever consiering the costs. Fucking retard

They were using them to mine you absolute doublenigger, that's why they made them in the first place. Lmaoing at anyone who actually pays 12k for that wall decorator

To be honest user these asics are probably running since last year, and nobody but bitmain and cia knew about it, most assumed the hashrate increase was related to botnets and to a smaller extent vega rigs. Now that CN asics are on the know, it will be hard to pull that trick again as efficiently since devs are aware of them and can fork earlier if needed

Are you stupid or something? We don't know when bitmain produced their asic's and since when they are using it.
Changing algo happens first time and only now they're selling them.

It's shit, in the form of a coin.
>Monero demystified

>Asic's will have to compete with worldwide used botnet.
I don't think that fulfills their intents any better... It'll be centralized in botnets rather than mining pools. What a stupid game Monero wastes time with

>They were using them to mine you absolute doublenigger,
Yeah the point is they'll do it again.. so you don't have ASIC resistance, and you won't mine on consumer hardware unless you have a botnet which is not any better ideologically. Point is Monero is playing retarded games that they can't win

In thousands of botnets.
Maybe it's not a great solution but it's totally better than becoming jihan's shitcoin like bcash.

You are cashie, aren't you?

Monero got bamboozeled once and they'll get fukt again and again. Their attempt at keeping the network decentralized with this cat-and-mouse game is dumb

>they'll do it again
Good luck with that, devs now have a study case to make it truly asic-proof

>In thousands of botnets.
Controlled by possibly a few people

>Good luck with that, devs now have a study case to make it truly asic-proof
Lmao like they didn't already have a million "study cases" from LTC, ETH, etc. Crypto devs always lose

Bye bye monero

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>Controlled by possibly a few people
Please, Jihan/Roger/Craig/whoever you are.
The possibility of this is like a possibility of all the websites being controlled by a few people.

I get a kick out of seeing FUD posts about Monero because it is quite literally the best true crypto "coin" out there.

>Fork gets announced
>Suddenly a bunch of cryptonight ASICs for sale
Really makes you think.

The cat's out of the bag now. The bitmains of the world have shown they're willing to make an ASIC for an ASIC resistant coin (lmao) but the devs will just hardfork with algo changes as often as they need to to throw off ASIC development from here on out. DESU they got lazy and should have been doing this anyway to discourage any ASIC development in the first place but if crypto hadn't exploded in 2017 it neve would have been profitable. The absolute madmen at bitmain and baikal.

>study cases for other algos fit the first actual study case for an xmr asic

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>"sir, there's a sudden hashrate increase in our network! jihan and friends put their asics online again!
>fork it

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>The possibility of this is like a possibility of all the websites being controlled by a few people.
No, it's like the possibility that most internet users flock around the web services of a few corporations (i.e. Google, Facebook, Amazon)

>FUD posts
How is this a FUD post?

>DESU they got lazy and should have been doing this anyway to discourage any ASIC development in the first place
That's because it's a bluff and it's as easy as it seems to use new algos. There's a reason for why there are literally competitions for new secure hash functions

Yeah sorry, I forgot Monero team is so dumb they need an actual identical demonstration in order to envision how someone may create an ASIC for a 2mb hash function

>Google, Facebook, Amazon

1. I don't expect the websites like this to use miners anytime soon
2. There is more competition than ONE FUCKING COMPANY SECRETLY USING ASICS AS IT WAS WITH BITMAIN
3. Spending your time with a website open is not like just using it for a couple of minutes so you can add to your list online pharmacies, imageboards, pornsites etc etc

Possibly, but it's still dumb to go through all this effort just to encourage botnets. It's not worth mining on consumer architecture when botnets don't care about electricity costs. The point is that Monero is going through a million hops to play a losing game in an inefficient way. They need to come up with something smarter than this or just drop this retarded idea

It's the best thing they can do now and they're doing it.
You're rude, stupid and annoying and most likely you are cashie.

>You're rude, stupid and annoying and most likely you are cashie.
I laughed. Kys

I bet theis "asic" is pretty much HBM2 memory packed in a bitmain case. Just make the algo need core processing and there you go, asic resistant again.

It's a coin and it's shit... no secret to it

Honestly Monero will go to 1-3k EOY because people will realize that it's truly bitcoin on roids. This was Satoshi's vision.

>on roids
You mean in terms of the increase in size of the ledger?

>OP projecting this hard because his privacy coin bags will never get close to XMR market cap

Yeah, I can only imagine the crazy mcap of a coin that will be delisted from all normie exchanges and 90% of people who bought it can't run a node to save their lives but they're probably running a malicious miner

>How is this a FUD post?
It's a useless FUD position that you're taking because cryptonight ASICs are going to get blown the fuck out on a regular basis by Monero devs from this point onward. None of this will fundamentally alter the way Monero works. If your position is "better ASICs than botnets" then you're pretty unimaginative.

>That's because it's a bluff and it's as easy as it seems to use new algos.
What are you even trying to say, brainlet?

>You're rude, stupid and annoying and most likely you are cashie.
Agree with this.

>If your position is "better ASICs than botnets" then you're pretty unimaginative.
Lmao and your position is "better botnets than ASICs" how clever and revolutionary! Dumbass

Humor me op, tell me what is your pick for #1 privacy coin. I'm waiting

Shut the fuck up, Jihan. Monero's intentions to decentralize their currency are legitimate. They can't stop normies from downloading stealth miners in their farmville apps, but they can stop rich chinks from easily buying up the hashpower. We don't know how many botnet operators there are. Is the majority of Monero mined on "an unknown amount" of private pools right now? Yes. Is this preferable to the VAST majority of bitcoin being mined by a handful of conglomerates? Unequivocally yes.

BTCP

>Monero's intentions to decentralize their currency are legitimate
Fucking lmao who cares if their intentions are legitimate when they keep failing miserably

Why are you avoiding my question, op? What's the point of fudding monero on biz, nothing but poorfag pajeets here, lmao

What's your question again? I replied to all the questions from this ID...

This one, ID changed because phone posting I mean monero is obviously not perfect but i don't see a better option right now in that regard, market says so too

That takes time. Quicker to update the algo than the ASIC. Bitmain BTFO.

How are they failing exactly? Botnets aren't a problem because botnet owners can't communicate with each other so they can't collude to attack the network. Besides, there is no profit in that anyway. Botnets are literally securing Monero's network unless you're delusional enough to think all of that hashpower is being managed by one guy in Russia or something.

From a security standpoint this is much more desirable than having a bunch of publicly known ASIC farm owners that colluding to fuck with the network's hashrate.

Oh Monero is the only coin that I hold

This is the best coin in terms of function. It does exactly what it's supposed to and does it well. It is what bitcoin should've been

It's not about security at all... Do you actually think BTC is vulnerable? ASIC miners secure the network. Monero wants decentralization because of ideology

No it's not. Bitcoin wanted to be a currency, and Monero doesn't scale. Stop with this bullshit Satoshi vision meme

It's my understanding that they are planning to tweak the algo just enough to screw the ASICS. Is this not correct?

Yeah, but, importantly, while also keeping the algorithm cryptographically secure. This is not easy, you don't roll your own crypto like IOTA

>Do you actually think BTC is vulnerable?
what is antbleed

>Monero doesn't scale
So it's no different than BTC in that regard, then?

if you own a botnet, u're taking insane risks and you should be rewarded. it's better than rewarding people who already got tons of capital and just invest in ASICS. suck my cock everyone !

correct

also, now is the time to buy monero
the dip won,t come back so low, i can garantee

Fucking lmao you're bringing that up to defend Monero's botnets

Makes sense I guess the whole business model of Monero is to reward criminals

You asked if BTC was vulnerable, I was informing you of something that it seems you were not aware of. What's the problem?

look at XVG 1 year graph
u mad bro ?

your mom is probably mining some wise dude's monero on her 'puter
get over it, cock sucker

But that's in no way different than a botnet... Your context was that botnets are better than PoW because they give more security then you bring up the fact that miners were backdoored, which is literally what a botnet is

k tard

>PoW
ASIC miners*

For a considerable time literally one guy had a killswitch for 70% of BTC hash power. This is not the case for monero.
And if you're thinking of arguing it is you better have some non-retarded facts and figures to back it up (you don't).

So what, because it hasn't surfaced that means it doesn't exist and no one is allowed to speak against it lmao. No one knew Antbleed existed before it was revealed. Do we have to wait until someone reveals their botnet has 50% of hash power in order to make this argument? Fucking retard if Monero had the same attention that BTC has it'd be a lot worse

Yes, it is about security. It's easier to corrupt a cabal of ASIC owners than it is to corrupt an unknown number of permanently anonymous botnet operators scattered throughout the world. You don't know what the fuck you're talking about. You're out of your fucking league, kiddo.

Except ASIC miners can turn the machine off while retards infected with the botnet will never even find out they killed Monero. Stop being retarded. At least with miners you know where the hash power is and how much everyone has. For Monero, for all you retard know, there may already be a botnet with >51%. Kill yourself for ignoring an obvious problem just because you hold Monero yourself

free fall till they fiz the ASIC mess

it's like 20% up in 48 hours

lets see in some months

How do I buy Monero completely anonymously? I get the feeling my wife wants a divorce soon and I don't want her snagging my crypto gains

But they change the algorithm in less than a month idiot

>Except ASIC miners can turn the machine off while retards infected with the botnet will never even find out they killed Monero.
What are you getting at? Turning off ASICs? Huh? And how are these infected computers killing Monero? Botnet running idiots with Celeron powered eMachines are unironically securing Monero's network by verifying the blockchain with tiny hashrates all over the world at zero cost to botnet operators (assuming they have good op-sec).

I already told you how impossible it would be for one individual (or even one group) to manage 51% of Monero's hashrate. There are probably hundreds of botnets operating independently with their operators completely in the dark and unable to contact one another because a) they have no reason to give a fuck about the politics of attacking Monero's network and b) they operate anonymously and don't want to blow their cover.

>Kill yourself for ignoring an obvious problem just because you hold Monero yourself
As if you don't have some skin in the game, faggot? What are you holding, BCH? Maybe Verge? Please stop embarrasing yourself.

You should understand that this is just your supposition. In reality, the FBI could be running botnets and a GPU mining farm to compromise the network.

Could be the FBI, NSA, CIA, and Interpol. Could be Mark Zuckerberg. Who the fuck knows? Every single cryptocurrency has an attack surface. The more distributed the hashrate is, the better.

where do you store it currently? If you dont understand it and your asking here probably just split it with her

he is stealing our brain juice

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>Someone explain me this shitcoin
>You probably don't even understand basic cryptography faggot
>They already have ASICs ready for this
seems like you already know it all??? asks questions then tells people they are wrong and why

>Verge

how much hashrate would you need to compromise bitcoin?
this is a retarded argument, the FBI isn't going to spend $10 billion on GPUs

You mean $3B for BTC. And pro tip: at one point it'll be profitable to collapse BTC network if you have a large short position

But we're talking about monero not btc

1. Moons slowly.
2. Better than Bitcoin
3. Anonymous creator.
4. Private.
5. Can't be shut down.
6. Used in the dark web.

>Do we have to wait until someone reveals their botnet has 50% of hash power in order to make this argument?
Pretty much.

LOOK ASCI

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Opinions on aeon? The lite coin of Monero?

>at one point it'll be profitable to collapse BTC network if you have a large short position
Presumably trading would be suspended. Futures have circuit breakers.