If you want to put an argument on this progpow debate trello board, let me know what to do add.
1) ask for a new topic
2) ask to add an argument card to a topic list
3) ask to add a reply to an existing topic card
i will try to curate fairly.
Proponents of ProgPoW want to flip the paradigm of the cryptocurrency mining industry on its head. Their thought is: instead of building hardware to fit the mining algorithms, a somewhat “wasteful” approach, we should be using mining algorithms that are optimized for GPUs to encourage the decentralization of mining.
Uuuh that was the design rationale behinds Ethash. The writers of this article should know that. By framing this as proponents somehow going against the original designs, I get the impression that they're willing to bend the truth in order to convinced people.
ASIC makers will do whatever they can to protect their investments in R&D. I believe that there is more than one Linzhi working on ETH ASICs so not surprising resistance level with all that FUD and this Coindesk bs.
What do you guys think? There's Definitely an ASIC bias in this article. For example
Centralization on the hardware manufacturing level is also a concern for networks, and GPUs are much more centralized on the manufacturing level than ASICs. GPU manufacturing has been largely dominated by three vendors in the past two decades, whereas ASICs remain a highly competitive industry due to the arms race of higher mining margin.
I mean are they serious? They're only two major ASIC manufactures. Bitmain and Innosilicon. Not to mention Bitmain stopped selling any of Altcoin ASICs. I find that alarming. How can support mining on a network with an ASIC when I cannot even buy one from one of the major ASIC manufactures? That's like Nvidia/AMD only selling all but there "best margin" GPUs.
Nvidia and AMD are PUBLICALLY TRADED COMPANIES. They must report all earning, investments, etc to their shareholders. They can be held accountable for any fraudulent claims (I.E GTX970 4GB Scandal for Nvidia) Where's that for Bitmain?
But in reality, even GPU mining is largely concentrated in mining pools or farms, not in the hands of individual hobbyists
Now what the hell is that? There's literally THIS SUBREDDIT and others where I see tons of pictures of Hobbiest mining rigs for ethereum and other cryptos because they are GPUs mine-able! Every small bit contributes to overall network hashrate. How many "massive" GPU farms are out there? No where near what ASIC deployment is. Pools for ethereum are fairly decentralized and spread out. Eth has 3 major pools, none controlling 50% hashrate. But guess who has the biggest mining pool for BTC and controls 50% of network hash.... the very ASIC manufatures.
>I mean are they serious? They're only two major ASIC manufactures. Bitmain and Innosilicon.
This is super false.
>How can support mining on a network with an ASIC when I cannot even buy one from one of the major ASIC manufactures?
This answer is two fold.
1. You're looking at the wrong manufacturer
2. The manufacturer doesn't think that algorithm is worth spending the resources to build an ASIC upon.
>Where's that for Bitmain?
In case you were living under a rock for the last I don't know, 6 months or so? Bitmain is, for all intents and purposes, dead.
>Now what the hell is that? There's literally THIS SUBREDDIT and others where I see tons of pictures of Hobbiest mining rigs for ethereum and other cryptos because they are GPUs mine-able!
When was the last time you actually saw a picture thread in this subreddit? Much less one that showed people mining ETH? Its been a long time. Other crypto? Absolutely, but eth to GPU mining is effectively a dead end for any reasonable intelligent miner.
>How many "massive" GPU farms are out there? No where near what ASIC deployment is.
Fewer than you'd think, anymore. Most of those massive GPU farms were formerly setup for ETH during its ATH and have liquidated and died off, or shifted algorithms to more profitable projects to remain afloat. A good chunk of the remaining network is ASIC mined, and/or controlled by about 5 or 6 GPU farms that had doubled down during consolidation because of ridiculously cheap power.
>Eth has 3 major pools, none controlling 50% hashrate. But guess who has the biggest mining pool for BTC and controls 50% of network hash.... the very ASIC manufatures.
There isn't a single pool for BTC that controls 50% of network hashrate.
Fully agree. Most probably paid article by one of the asic companies :). Its understandable they dont want to go without a fight .
The vitalik quote is also one year old and is not true anymore. So it is outright manipulation.