I’m focusing on the implied claim that xmr doesn’t have mining attacks, when in fact has had an ongoing one for years; its one of the reasons I consider the project a failure and been avoiding it.
I may be stretching the term a bit, but its still an undesirable behavior that allowed by the flaws of the protocol
Again, this is not what I referred to. Grin will not have a botnet problem, since it’s not economically CPU-mineable.
Attacking with rented hash over the short term is orders of magnitudes cheaper and easier than acquiring equipment, securing real estate, power etc.
I fully agree with that statement. But what makes you think this won’t be possible with cuckaroo29? Mining will happen from day 1 with 4GB GPUs. Grin has already “lost” the >6GB memory requirement claim and as officially stated by @tromp it will be also mined on 4GB GPUs.
ASICs FTW. Do whatever is necessary to keep hash rent market out. The process is fuzzy though and not perfect.
I agree. When having a static PoW algorithm, I agree, ASICs best secure the long term outcome of a cryptocurrency. However, given the ASIC market’s maturity this is currently far from the truth.
So Grin approaches the goal perfectly:
Start out with GPU mining and distribute the supply as good as possible in the beginning, just like Bitcoin did and then over time let ASICs take over and provide stronger proof of work that commodity hardware will never have an attack vector for.
However, I agree with @lvella and disagree with @tromp with regards to only allowing “high end” GPUs to participate in the first two years.
As stated by Grin:
Over the past 6 months, it has become apparent to the team that:
- The availability of an ASIC for Cuckoo Cycle at launch is a distinct possibility.
- The current ASIC market is centralized, especially when it comes to recent cryptocurrency releases. The development of a competitive ASIC market takes time.
- A healthy and grassroot GPU mining community at launch is highly desirable.
In the last point they say they want to have a healthy and decentralized GPU mining community. By favouring high VRAM GPUs only, they are accomodating megafarms and handicapping Average Joe miners, smaller mining farms and people with less capable GPU without stating a good reason.
The “good reason” was “gamers will constitute the mining community” (which is false anyways) but now even with that reason thrown out of the window, there really isn’t a good reason to not allow any GPU to participate made in the last 4-5 years (implying none was made with less than 1GB). If anything, they are severly hurting decentralization and fairness aka an even playing field.
It’s very important to note that this is not 2010/2011 anymore. Infrastructure is now there (no matter in what class segment) and ready. So accomodate the best possible to the current situation and do not prefer one segment over another. Allowing all segments to participate will create the fairest coin distribution and hashpower distribution for the first 2 years.