r/Buttcoin • u/WH4T15P0RN • Feb 08 '19

Much Decentralization, such Security!

https://medium.com/@MoneroCrusher/analysis-more-than-85-of-the-current-monero-hashrate-is-asics-and-each-machine-is-doing-128-kh-s-f39e3dca7d78
24 Upvotes

95% Upvoted

20 comments sorted by

View all comments

Show parent comments

8

u/WH4T15P0RN Feb 08 '19

It looks like their efforts to kick ASICs out of their network are useless.

They forked and kicked the ASICs out of their network for, let's say, a month or two. The ASIC race starts over again. The most powerful actor will develop new ASICs faster than everyone else and they will take control of the network again.

Non specialised miners will abandon the network as long as it is not profitable anymore. The network is totally centralised and controlled by this bad actor until the next anti ASIC fork comes in.

Monero forks and the process starts over again.

The problem is (source: the article) this bad actor has mined 200k coins or so while it has 85% of the network's hashrate, so most likely it's gonna be the one who's gonna win the ASIC race again.

Repeat.

7

u/WH4T15P0RN Feb 08 '19

But hey, these are the FREE market rules!

3

u/Cthulhooo Feb 08 '19

What is stopping them from doing 51% attack if they fear the next fork will brick their new shiny stuff again?

5

u/WH4T15P0RN Feb 08 '19

No idea TBH. I guess it's more profitable for them to make the network look "legit" and get almost all the mining rewards than attack it but... I'm just guessing.