DASH mining in any capacity is officially dead
- Thread starter Checkerama
- Start date
- Status
Checkerama
Active member
Off, but not unheard of. I mean, we are talking about the necessity for more hashrates to incentivize and prove to investors that DASH can handle the transactions of the masses one day. It would be a win-win for everyone.
Checkerama
Active member
It does pull back from time to time, but to hit the ceiling so soon with just a few months of ASICs is honestly crazy you know
Twilight Miner
Member
Transactions cannot surpass hashrate. Transactions size can surpass block size. But block size have nothing common with hashrate.
But if transactions size will surpass the block size nothing extraordinary will happen. Just payment fee should be increased.
But if transactions size will surpass the block size nothing extraordinary will happen. Just payment fee should be increased.
Orphan blocks aren’t cause by not enough hashrate. They generally happen when 2 miners find a block at close to the same time and the one who was second didn’t confirm the one before and the next block found confirms the 2nd block and not the first btc had issues with this with ASICS and only retargeting every 2016 blocks. Which is why keg and dgw and other diff algorithms came out. You should do more research on mining a difficulty.
Checkerama
Active member
Fair point, but I don't think it should be necessary is my conclusion. Maybe bitcoin's model of changing it every 2016 blocks was the best idea.. that way the fluctuations wouldnt be so wild and create uncertainty on network difficulty. Nonetheless, a few months supply of ASICs shouldn't have sent it out of whack so quickly. It shouldve built up some sort of difficulty change resistance already given september + october batch, but its just getting worse.
Twilight Miner
Member
Changing difficulty every 2016 blocks like bitcoin its not a good, its deprecated idea. Bitcoin just keep it as legacy.
For example if some big pool will go offline bitcoin network need 2016 blocks to readjust difficulty. And all this time transactions will pass much SLOWER.
Dash adjusts diff every block. It is protected from such kind "attacks".
Dash is a way of transmitting money and flawless working of transactions should be always first priority. Mining profits or losses is just a SIDE EFFECT of dash.
Checkerama
Active member
So if I'm understand this correctly, a linear relationship between difficulty and hashrate wouldn't make sense to create (like I did) because difficulty is based off of how fast one found a block within the last 24 blocks.. so what we are experiencing now is not necessarily a permanent change in difficulty but rather an adjustment fluctuation created by the introduction of super-powerful ASIC miners and don't necessarily reflect an extrapolated model of future difficulty?
Correct but with the current hasrate I don’t see block times slowing to were the difficulty will make a major drop. Also when a new miner comes out in the future I see the diff climbing more but probably at a slower pace then with this flooding of miners that just happened.
I see dash crossing 1k next year and as I have told people in the past I think it will become a greater value then btc. If dash fuffils it’s goal of digital cash it will have a 1 trillion + market cap currently it is at 3.4 billion. Do that math at look at ur machines potential roi.
Twilight Miner
Member
Dash advantage over bitcoin is fast and flawless transactions. And as faster dash readjust difficulty then more robust is the network.
To survive dash need to focus on flawless transactions not miner's profits.
To survive dash need to focus on flawless transactions not miner's profits.
Checkerama
Active member
I also see that with the current hashrate - dont worry, I'm not trying to regain short-term profits. My concern is purely with the rewards in terms of DASH, not dollars. Extrapolating current Antminer S9 technology hashrate, I guess this would make sense as well if applied to DASH (and the reward on the bitcoin network from a 14 TH/s machine also makes sense).
Hopefully with the mining I do now, then, I will be able to upgrade my equipment for free, essentially.
In that case, I will change my business model - short term goal with bitcoins and long term goals with DASH. This should give me the necessary funds to support any additional fluctuations in DASH mining difficulty while supporting the network. Thanks for the discussion.
Checkerama
Active member
We will have to see where the network settles in the next few months in terms of difficulty then... and of course price the miners used for it accordingly when thinking about short term profits.
Twilight Miner
Member
Current problem of mining is not a problem of increasing difficulty. Its a problem that most of hashpower is concentrated in one (MITMAIN) hands.
To overcome this we need to use our governance power and develop open source ASIC ICs that will be sold over the world. But it is a tough challenge and also have some risks.
To overcome this we need to use our governance power and develop open source ASIC ICs that will be sold over the world. But it is a tough challenge and also have some risks.
Checkerama
Active member
It can't be more risky than allowing Bitmain to consolidate most hashrate power for all crypto. I haven't read a proposal yet to create an open source ASIC IC that would propagate network hashrate exponentially on the DASH network. That's actually kind of genius... Remove consolidation of power by using DASH budget funds to create it, then distribute it to the community. Even if it were open source though, the development of the code into a miner would still present a barrier, so it wouldn't be THAT bad of a risk - only those really dedicated would be able to turn it into a quality miner they could use to support the network.
I don't see how someone could lose with this kind of suggestion. Good thinking.
Twilight Miner
Member
Actually i am not just thinking, i am moving toward to this goal. But i want to come out with proposal after i have some results and calculations. Hope in a couple of weeks. Not like dozens of other proposals that just want to get some free coins and run away.
Dandy
Active member
I really don't understand your argument at all.
The current low profitability is the result of a big influx of hash power into the network that was initiated by the rise in profitability some time ago.
It will equalize after some time when some miners stop mining because they don't think it's profitable anymore and when Dash price rises.
Then, the cycle will happen again, but as the size of the Dash network and Dash market cap raises, the oscillations will be smaller.
The same thing happened with Bitcoin. The same thing more or less happens with any commodity on the market. It's all about supply and demand and it's perfectly normal.
The current low profitability is the result of a big influx of hash power into the network that was initiated by the rise in profitability some time ago.
It will equalize after some time when some miners stop mining because they don't think it's profitable anymore and when Dash price rises.
Then, the cycle will happen again, but as the size of the Dash network and Dash market cap raises, the oscillations will be smaller.
The same thing happened with Bitcoin. The same thing more or less happens with any commodity on the market. It's all about supply and demand and it's perfectly normal.
Checkerama
Active member
Yes when I initially came here, no one really explained that - they were just complaining that I was complaining about profits when really, I was expecting an end to the influxing difficulty that has exponentially made mining unprofitable. I thought it was a flaw in the coding itself.
But Twilight and Ftoole walked me through it - I will be waiting for the influx to equalize.
- Status