Innosilicon secretly Mining grin with their new ASIC that is supposedly cancelled

It seems innosilicon is secretly mining grin with their G32 series which is supposedly cancelled, rumours are there are several miners active by innosilicon and several miners at data centres and are also available for sale but only to limited people with connections. Whyy do big companies do thiese things to hurt the community ?

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https://bitcointalk.org/index.php?action=profile;threads;u=987465;sa=showPosts

This is quite disconcerting tbh

nobody seems interested in my post speak up people this will damage the miners of grin

I’ve heard the rumors as well, but if its true thats a lot money in a day, cant find the miners anywhere though

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Dear marko & miner21, who both joined this forum today, together. No one’s speaking up because we all know there aren’t any Grin ASICs. Usually ASICs cause the network hashrate to increase dramatically, to the point that it’s no longer profitable for GPU miners. And yet the reality is that Grin’s net hash has been steadily decreasing, we’re now at the lowest point in over half a year: https://grin.blockscan.com/chart/type/hashrate

In fact, today was the most Grin coins I’ve mined on record, and I’ve been pointed to Grin since January 15th, 2019. I keep experiencing new record highs of Grin coins mined. Others Grin miners should be experiencing the same phenomenon. More coins mined because the hashrate keeps decreasing. Grin is also ranked the most profitable coin to mine for some time now, and often stays within the top 5 most profitable for whattomine.

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I respectfully disagree with you declining hashrate doesnt mean that ASICS are not there.

Secret ASICs, what a great band name.

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is there anyway to track ASICS ?

Oh yes, knowing if ASICs exist on a chain is as simple and obvious as night and day, on or off, 1 or 0. Just look at the history of Monero and Ravencoin. When they fork to brick ASICs, there’s always an instantaneous and drastic drop in hashrate (the exception being the change to RandomX that is CPU only, which is a faster algo). When ASICs returned, there was a rapid and substantial increase in hashrate that didn’t coincide with a price increase of the coin, and didn’t abate until the next algo change.

Then you can get the feel from the miner community. For RVN, there shouldn’t be any GPU miners remaining other than a small hobby miner with a handful of GPUs or less, since most anyone would be mining at a loss because of the ASICs. RVN sees large gluts of coins dumped on the exchanges that are coming from private mining pools. GPU miners tend to hold; ASIC miners tend to sell. Grin is the exact opposite, it’s rank 1 for GPU profitability, basically tied with the Grin clone MWC, which uses the same c31 algo. Just checked, Grin’s algos of c29 and c31 hold rank 1, 2, 3, and 4 for most profitable to mine for GPUs.

Monero: https://bitinfocharts.com/comparison/monero-hashrate.html
Ravencoin: https://ravencoin.network/stats/nethash/all

For Grin, we ignore c29 since we know it’s ASIC free because of the biannual algo changes, along with zero signs of an c29 ASIC. And c31’s net hash history is the exact opposite of what any of us would expect if Grin ASICs actually existed: https://grin.blockscan.com/chart/type/hashrate

Think about it, Innsolicon’s 1800W G32 ASIC is the equivalent of 234x 1080 Ti or 164x 2080 Ti. 300 units of this ASIC would double Grin’s current c31 network hashrate. Then consider Innolicon’s 520W and 140W GPU size Grin ASICs, it’s not as if they’d only produce 50 of each, they surely had individual orders of far greater magnitude, and yet Grin’s network hashrate for c31 has been decreasing over the last half year as it’s % of the block reward increased.

And every miner worth his salt knows that ProgPow for ETH would bring a golden age to GPU mining.

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@Neo-Geo You’re talking about large ASIC deployments, but manufacturers can mine during the testing phases of their ASICs.

C32 hashrate has increased lately and is now greater than both C31 and C29 … if miningpoolstats is correct, that is (506 Kgps vs 93 Kgps or 171 Kgps), where 99%+ of it is “unknown”:

https://miningpoolstats.stream/grin-c32

Miningpoolstats is likely wrong or otherwise we’d see more C32 blocks … if they’re right, then that high C32 hashrate may well come from ASICs. Gminer recently added support for C32 for Nvidia GPUs but that’s not profitable (i only did a quick test though).

Grin’s C29 hashrate has dropped mostly because other coins became more profitable in the meantime , e.g. MWC (new coins usually steal hashrate from GPU miners and aren’t immediately listed on whattomine).

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587,160 gps on c32 is wrong, others have pointed out this error on miningpoolstats for c32 before. That’s the equivalent of 1,200,000 units of 1080 Ti. So Innosilicon made Grin ASICs and canceled preorders for what, 1 or 2 of the 5 blocks of c32 found to date? Realize that the c32 blocks reported were found from different miners. -source: https://grin.blockscan.com/blocks

Then there’s this comment from Jasper (Grin dev and council member) today regarding ASICs:
c32

I strongly doubt that these asics exists at all.
Because all photos we have seen were just dummy / generic Innosilicion ones, but not showing working products. Also with regard to the network hashrate:

Right now the difficulty on the Grin network is about 1.1B - that said this is only half of what it had been in November when I mined my first C32 blocks. Ok, on Grin you always need to take the combination of the scale values into account, but still: The C32 scale did not change in this time, meaning it is twice as easy now to do a C32 block on the chain compared to early November! But even for the fading out C31 the network hash did decrease from ~100 k g/s down to around 80k at the moment. So even that is more profitable now then 4 Month ago.

This plus the fact that Grin tops the GPU profitability charts for a while now already are a strong indicator that the network is currently at least not dominated by the ASICs. And if a prototype of this asic existed at all, then very very few of them. Note that already 2-3 of the G32-500 asics would have enough compute power to make 100% of the current C32 nethash we have. So they are surely not on C32 - and even on C31 already a batch of 100 units would have visible impact (>10% of nethash). Thats why I do not believe in high scale hidden mining with this likely never existed asics.

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Ah, thank you for an informed response where you included actual facts instead of just internet theory. Why some people refuse to take facts into consideration is beyond me.

Good fudnfun :smiley:

Thanks for the well written responses … with educated folks on this forum it’s gonna be tuff to spread fear and fiction haha …

Oh ya … nobody said “Welcome” to the noobs !!

Welcome to skewl Boyz !!

I’m so glad we have them around.