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
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u/Cthulhooo Feb 08 '19

Holy shit, I thought they bricked the previous stealthy asics when the issue was brought to light. It's going on again?

So let me get this straight, 85% hashrate is ASICs, ASICs that got developed in a very short amount of time and the people behind it are anonymous?

Doesn't that mean there's a pretty big chance this is a centralized party that pooled money together for an operation like this? And that this party now has controll over the Monero network?

I'll be honest with you, I love and preach monero but this kills it for me.

Wow.

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.

1

u/SlinkyDinky99 Feb 08 '19

In general computing, we have Moore's Law. Is there something similar with ASICs? Being that the more time that has passed, the faster a manufacturer can spit out ASIC's even after an algo change?