I mined on GPUs for years. Not from a commercial aspect, but as a hobbyist( circa 100 GPUs). I still have a rig on Grin now.
With GPUs you end up chasing the pot of gold, eg switching between the most profitable coins. With a Grin C32 ASIC you won’t have this luxury. It’s Grin or die.
So are ASICS though. Look at any chain out there and there’s rentable hash. Almost every algorithm has sub chains (even c31 got its own copy cat coin)
ASICS are just as rentable as GPU. You just can’t attack large coins like ETH or BTC because they are too big.
ASICS are just as rentable as GPU.
It’s certainly a big risk, but only for the sub-chains. The largest chain using that specific PoW is safe in that regard.
True. I’m starting to think it’s size more than anything that prevents attacks.
ETH has so far been safe due to its size, same with BTC. I’m curious what happens to monero though during tail emission. I feel like they might be a target due to low security vs high value.
Either way, I just dislike the argument that GPU are rentable and ASICS aren’t. Both are equally rentable - I know, I rent mine out all the time on NiceHash. I look at the NiceHash order books too and see there’s a decent amount of equihash asic hashrate as an example for rent.
If we get hit, it’s because we gave economic incentive to someone to do it. I think with our linear emission that’s not very probable.
Indeed; once Cuckatoo32 ASICs appear for Grin, then it will be secure as long as any other chains adopting C32 have a smaller daily issuance.
In case the ASICs are also capable of solving C31, then chains with sufficiently high C31 daily issuance could also be a threat.