Bitmain release a Asic Miner for Equihash

yeah i saw this on reddit... I don't plan on ever buying an ASIC but somethings going to have to change on the GPU mining front. asics are starting to actually win.
 
I bought one.

Why not.

$2k, 10,000 sols, 300 watts.

That's the equivalent hash rate of fifteen 1080TI cards, with the power use of less than two.

ROI in 2 months at current mining profit levels - even if that timeframe doubles because of a difficulty spike --- it's still a four month ROI !!!

There's nearly a dozen coins that use equihash, and zcash, the biggest already said they won't fork over the ASIC introduction.

Huge Bonus:

This ASIC only uses 300 watts of power, which is so low, it'll could still be profitable a LONNNNNNNNNNNNNNG time against electricity use - even if it's no longer the newest model.
 
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I knew something was up Wednesday when I tried to exchange some Zcash and they would not let me. If possiable and they didn't sell out in 2 weeks I would buy one. Just short a couple hundred.
 
I picked up 2 myself. Like Archea stated, it is unlikely that all equihash coins will fork. 10,000 sols @ 300 watts. Just couldn't resist.
 
Yeah, the stats speak for themself. That power draw makes this thing a sweet buy. I'll still keep a few gpu mining rigs up because they are in a free power situation, but this new asic is calling my name.
 
Yeah, I'm keeping my GPU rigs. I figure they can do RavenCoin (RVN) on x16r for a long time as that algo seem quite resistant.
 
This is nasty, but the coin I am currently mining is working on a solution to this. I don't want to sell my cards because I want to have the option to mine other coins.
 
I am using all VEGAs now (6 56s and am standing up a fully water-cooled 64 this afternoon).

I am all in on Cryptonight, since that is there my cards Excel. I sell and exchange for ETH if it is less profitable then mining ETH directly, although my 56s do 43MH/s each.

I have stock piled 5 million Turtle, 500K GRAFT, dunno how many DERO etc. If they blow up I'm great. If they do not I'm not out anything. That is why I love the whining from the clueless .
 
klinkman said:
Anyone have an extra coupon or two they want to get rid of?
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you can buy them on ebay. I didn't do it because I was afraid delivery might take too long and I'd miss the batch1. But yeah from what I read the coupons do work according to the reddit threads.

$400 coupons can be purchased for ~ $200 on ebay.
 
It seems that the developer is thinking of creating two blockcains. He's getting a lot of backlash for not forking. lets see how this unfolds.
 
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Given profitability drop from winter / spring to now, hashrate/difficulty usually drops - It didn't this time. Now i know why.

Anyhow:

ASICs beget centralization of hashpower (behind pools), so expect the collective counter-punch by developers. See here.

In specific regard to ZEC: developer reasoning for not immediately forking.

To repeat him: ZEC was introduced as ASIC resistant. If folks do not think that the developers won't implement greater memory requirements to invalidate current ASIC designs, think again. In fact, i feel it will become a standard response when news breaks of new ASIC releases.

If anything, it is the beginning of the end for ASICs.

I await the Forkening.
 
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atp1916 said:
Given profitability drop from winter / spring to now, hashrate/difficulty usually drops - It didn't this time. Now i know why.

Anyhow:

ASICs beget centralization of hashpower (behind pools), so expect the collective counter-punch by developers. See here.

In specific regard to ZEC: developer reasoning for not immediately forking.

To repeat him: ZEC was introduced as ASIC resistant. If folks do not think that the developers won't implement greater memory requirements to invalidate current ASIC designs, think again. In fact, i feel it will become a standard response when news breaks of new ASIC releases.

I await the Forkening.
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ASIC resistant =/= ASIC proof. It's a natural progression for any algo to have an ASIC designed for it, given enough incentive and scale. I doubt there will be a ZEC fork anytime prior to sapling (if the fork even happens at all).
 
ASIC proof = 'we gonna change our algorithm in-flight via fork if you drop a miner on us'

In time, it will become the standard response to these invasions.
 
Forking won’t happen overnight. I wonder if any of these projects will even be able to fork before the ASIC hits the market in late June?


And as long as zcash doesn’t fork the profits will still be there for the ASICs.
 
Agreed that there will be no immediate forking.

The main point is that there will be forking across all these coins, over time.
 
There will be no fork! I been on zcash forum and the developer has no intention on forking. There trying to get the sapling done fast. He thinks Asic is the best thing in the world.
 
sapling is a hardfork itself so opportunity lost to change algo if you're gonna fork anyway.
 
Even if zcash forks - the devs are now saying it wouldn't be until late 2018. At which point this miner would have already paid itself off.
 
Archaea said:
Even if zcash forks - the devs are now saying it wouldn't be until late 2018. At which point this miner would have already paid itself off.
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every asic every release has had threads like this and if you're in early on an asic they always pay for themselves.
 
From daira in the link i posted above:

For the record, I’m strongly in favour of changing the Equihash parameters to increase memory requirements (which incidentally makes verification more efficient), possibly in the next upgrade after Sapling. The current parameters were chosen before the development of optimised Equihash implementations that happened just before launch, so they’re definitely not ideal. I’m also in favour of researching other ASIC-resistant PoW algorithms as potential replacements in case just changing the Equihash parameters turns out not to be sufficient.

Regardless, this ASIC would definitely pay off for early adopters.

It will turn out to be a brick as all ASICs turn into.
 
By all accounts these will pay themselves off easily, and the limit is now 50 per person —— so why are they still in stock? I expected these to sell out right away!?!?
 
Yes - but even if the vote to fork succeeds - they've said they'll have to implement after two already scheduled technical project updates which would put any possible fork effort after Sept 2018 —- at earliest. By then, these have paid themselves off twice.

https://z.cash.foundation/blog/statement-on-asics/

https://blog.z.cash/roadmap-update-2017-12/

https://forum.z.cash/t/let-s-talk-about-asic-mining/27353/1522

My cousin upped his order of 2 to 4. I'm still considering if I want to order a second one.

Even when/if zcash forks - Hush, Komodo, and a few others have said they won't --- or haven' yet decided on the matter.

 
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Airbrushkid said:
Have you seen this? A lot has been going on.
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yep, I've followed all that.

The main points I see are:

I suspect these things are already on the network mining currently as are a TON of NVidia cards -- so profitability shouldn't change dramatically unless they are selling a crap ton of these things (which may be the case - since they haven't sold out???).

They should pay themselves off in 2 months at current profits. Let's double that and say 4 months worst case scenario.

I don't suspect any of these coins will have successfully forked before you'd have paid the unit off. Anything beyond that pay off is the gravy. And with there being multiple options on the equihash algorithm - you aren't in fear of the ASICs being bricked by the choice of one crypto dev team.

Some of these coins saying they WILL fork - - when? how long will it take? Will Bitmain be able to release a firmware to re-engage the coin that forked. Forking isn't just a flip you switch that takes no planning, most of these algos don't even have one prepped and ready to go - it takes testing, agreement with your infrastructure, etc - TIME.... in which case that time gives the ASIC buyer a chance to recover their cost.

The use of only 300 watts - means electricity cost is so low that they can be profitable even after the difficulty swells with additional batches -- and the multiple coin options mean you should be good to mine even the least profitable coins on equihash - at profit for quite a while to come.

This seems like one of the safest ASIC options I've seen from bitmain --- subjectively speaking.






The one fear I have is ------- how many of these things are they selling?!?!
 
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Airbrushkid said:
If you can weed thru all the shit. I came across that they made upwards of 100,000. But if you really want to get in the thick of it buy one of these which only cost $15,150.00 and you get 40,000 sols. 1140 watts.

https://asicminer.co/shop/asicminer-equihash
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Why?
I could get 4 of these Z9 minis with the same hash rate for $8K. (or less with ebay sourced coupons)


Though it is cool the unit you linked has watercooling :) but not $7,150 cool.
 
Makes no sense to buy the 40k unit given the pricing of the 10k units.
 
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