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MetallianFR68

Global hashrate on CRYPTONIGHT

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See this graph  from https://www.cryptunit.com/global
5adf858403732_2018-04-2421_28_49-CryptUnit-Hi.Whatareyouminingtoday_.thumb.png.4ddc1c78557a756150ac0d2db4852c5a.png

You can see the anti ASIC forks very clearly around april 7th
But after that, the global hashrate increased again and reached new top value.
How do you explain it ?
Do you think that new ASICS are in ?
Do you think that ETHASH miners switched to CRYPTONIGHT ?

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  • ASICS can't be the reason because, well, you can't change their algorithm. Everything you can upgrade on an ASIC (don't have one, so speaking from my knowledge of electronics) is some controller chip firmware, which handles I/O (ethernet, pools), settings, etc.
  • ETHASH - maybe. Don't know. Or just other people manually switching to CN7, because, there is a huge gap to fill, making all CN7 coins more profitable. 

Just my speculations :)

 


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Wor3d
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What does this graph show?  Cryptonight and Cryptonight V7 combined?  what about Light and Heavy?

If it's just Cryptonight and not the new anti-asic flavours then I'd say the ASIC's all shipped the day after the fork... and have slowly come back online to all mine Electroneum LOL

Curious where they go after ETN actually forks end of May.

I've also seen many many posts by former ETH miners switching over because of profits on CN7...  So many confused 800h/s I used to get 30 MH/S!

 

EDIT:

image.thumb.png.4648f9962d10b8959b0217098c8d1e8c.pngI pulled this showing poor poor ETN's fate

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I understand why ETN didn't fork immediately, but I also hope that ETN will not loose value because of this whole ASIC thing... That also applies to all other Coins still using legacy CryptoNight. Disclaimer: I own ETN :D 


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Wor3d
Hashvault [SK/CZ] Support Team

Don't forget to join our forum at hashvault.pro and join our Discord Server here.

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I think the reason for the "drop and restore" hashrates we see up there is a combination of: ASICs being kicked out and switching to other, not-yet ASIC resistant coins, miners that don't change their infrastructure and submit invalid shares for a period of time, miners that use e.g. nicehash etc. and don't update their miners on time, so that they will stop getting proper work until they're updated to support new algorithms, web mining scripts that are not updated in time and last but not least, botnets that are not able to "update" the mining code on their victims instantly.

All these reasons added together might cause the impact you see on the chart.

But in the end, it's just speculative :)

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It's all one big connected market with hashpower. No (established) coin will be significantly more profitable than others. If it is, miners will switch to that coin, difficulty increases and profit goes down until it reaches equilibrium with other coins. Much of this happens automatically today due to profit switching software and large services like Nicehash.

ASICS however are not equal in this connected market because they can only do one thing. So when Monero forked, they took all that hashpower off the market. (There are still some coins for them but soon there will not be.) This resulted in increased profit for GPU miners on all currencies. First Monero but then it spread to the entire market as a result. There will be a similar effect when ETN, DERO etc. forks away but not as large.

Then, there can be the opposite effect. For example: If/when Etherium goes POS and takes away mining, most of the GPU hashrate on the planet will try to switch to something else.

Guess what they will switch to?   First other ethhash algos but then  Cryptonight first and then Equihash as a distant third option. This will totally kill profit for the entire mining market and most miners will have to quit.

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