Welcome to the Dash Forum!

Please sign up to discuss the most innovative cryptocurrency!

BITMAIN RUINING THE DASH MINING SYSTEM!

Discussion in 'General Discussion' started by Groznii, Nov 18, 2017.

  1. Groznii

    Groznii New Member

    Joined:
    Nov 18, 2017
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    1
    Hello folks!
    BITMAIN what did it is CRIME! So we must find solution for them, or they should find solution until we find! 1st is if they change firmware and it helps would be great!, 2nd if not, we must create a big group from all over the world who bought D3 and Appeal to the court! 3rd MAYBE DASH CEO CAN HELP TO RESOLVE THE PROBLEM?! BECAUSE IN A FEW WEEKS D3 WON'T BE PROFITABLE AND ALL MINERS WILL SHUT DONW! AND WHAT WILL HAPPENED?
     
  2. thesavoyard

    thesavoyard Member

    Joined:
    Mar 15, 2017
    Messages:
    143
    Likes Received:
    40
    Trophy Points:
    78
    Dash Address:
    Xp8WZRv9Papo21ySQE8ghtQDUxN6qoKzS6
    The good news is, with profits so low, us miners will hodl. No one is going to sell $3 in Dash a day. That should further restrict the supply of Dash and help the price go up. Now imagine you were making 0.015 BTC per day with a single miner, you'd be ecstatic. Mining is a long game, you just have to hodl.
     
  3. Syntheist

    Syntheist Active Member

    Joined:
    Apr 27, 2017
    Messages:
    143
    Likes Received:
    127
    Trophy Points:
    93
    Nothing will happen. Unprofitable miners will stop losing money, profitable miners will make more money. Everyone will benefit.

    Welcome to the painful reality of global competition.

    The reality is that this is a race the end of Moore's Law, this happens when transistors are about 5NM apart, because at this distance quantum physics takes over and ASICs won't be able to get any faster. Once they can't get faster hardware disappears as a factor in competition, then it just becomes about the cost of electricity. Did you know that Mexican solar power is the cheapest in the world?

    What Dash can do that no other currency can is fund the development of their own ASIC chips, therefore reaching 5NM faster, but even that won't solve your problem.

    That's because the more widely available mining hardware is the lower the profits for each individual who mines, it then comes down to those with the lowest costs still being profitable. You're in a fight with economics and that's a hard one to win.

    Of course the outcome could be suboptimal for Dash in terms of the centralisation of mining power but that is a tension within all POW cryptocurrencies. Because centralisation will always benefit miners, through reducing costs, at the same time it harms the network through decreasing security.
     
  4. demo

    demo Well-known Member

    Joined:
    Apr 23, 2016
    Messages:
    3,114
    Likes Received:
    263
    Trophy Points:
    153
    Dash Address:
    XnpT2YQaYpyh7F9twM6EtDMn1TCDCEEgNX
    If you begin forming your community when the fire arrives, you are already too late!
    You will not find anyone to carry the buckets and throw water.
    The community must have been created and tighten in advance, when the grass is green and the fire is far away.
    But of course better late than never. You should start the miners community asap.
    If the miners insist on being alone like the wild beasts, then they will have the wild beast's fate.
     
    • Trolling Trolling x 1