So my understanding of GRIN is that there are two algorithms, each getting half the coins mined. One algorithm is tweaked every 6 months to make it ASIC resistant.
Yet, multiple asics are coming to market and Obelisk’s site says:
“Grin’s Proof-of-Work consists of two sets of algorithms, one ASIC-resistant and one ASIC-friendly. Over time, the ASIC-friendly algorithms phase in, reaching 100% of the block reward by January 2021. Grin’s first ASIC-friendly algorithm is Cuckatoo31+, which should maintain dominance until approximately April 2020.”
I got excited about grin and built a 10 gpu rig… Did I just waste a shit ton of money/time? I don’t see anywhere on the official site that GRIN is supposed to become ASIC dominant. Am I just an idiot and it’s clearly posted somewhere? Even the latest development update states that they’re keeping an ASIC resistant algorithm:
“New secondary proof-of-work. Grin remains true to its commitment to tweak CuckARoo as part of every upgrade in order to discourage manufacturers from building specialized ASIC hardware for it. As such, Cuckarood29 will be deprecated for a new algorithm, its details yet to be announced. There will be a forum post defining the algorithm in advance, alongside corresponding pull requests. Mining software must upgrade their solver.”
Is this algorithm gonna be fighting for scraps left over by the ASICs or is it still gonna be worth it to GPU mine for a while. Any answers are appreciated.