Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] DERO FIRST SSL BLOCKCHAIN: CryptoNote Privacy + Smart Contracts
by
fellestreum
on 19/04/2018, 21:56:02 UTC
Quote from: fellestreum on April 19, 2018, 09:17:52 AM
Quote from: fellestreum on April 19, 2018, 09:00:59 AM
Quote from: gnulinuxkernel on April 19, 2018, 08:40:18 AM
::)difficulty of monero hashrate is 515MH for 220$ price. DERO Difficulty 40MH for 49cents price. It's about 10X time bigger then it need to be. 6-8MH is a maximum hashrate for Dero, Developers work hard, i know. Now i switch to mode "invest step by step". GPU mining died this day, this is hard work to develop anti-asic resist, will waiting. Don't panic, DERO is a long-term project, nothing scared happened now, hope soon all would done and hashrate come back to 6-8-10MH. Wink

Here's a question.  Although I am not sure you are correct to compare hashrates and raw price directly quite like this, I agree difficulty for Dero is very high.  But why is this?  Shouldn't market forces ensure that the difficulty for each coin is about right, in terms of capital expenditure and energy costs for mining each coin?  Perhaps the reason is that the market thinks that the *potential* for Dero is higher than other coins, therefore justifying a higher current difficulty than for other comparable coins based on their *current* market price?

Possibly in partial answer to my own question, perhaps asics are dumping on Dero more than other coins because Dero is still using an asic-compatible POW version, whereas many other coins have changed their POW to try to defeat ASICs.  But I don't know.

I think I have an even better answer now, which is obvious in retrospect.  If you look at cryptunit.com, you'll notice immediately that all the more profitable coins are the CryptoNightV7 ones, and all the Cryptonight (classic, let's say) coins are down the toilet.  The difference is really substantial; we are talking nearly an order of magnitude.  It makes no sense at all right now to be mining any Cryptonight classic coins on your own CPU/GPU hardware (and I have stopped for the meantime).

However, look over at nicehash.  There market forces ensure that CryptonightV7 and Cryptonight classic coins are more or less equally profitable; the current bid price for V7 is in the region of 0.1965 bitcoin/mH/day, while for classic it is in the region of 0.03, a whopping difference and which roughly corresponds to the differences in profitability on cryptunit.   In fact I nicehashed some Dero over the past few days using some bitcoin and it made perfect sense - if anything it is actually slightly more profitable (or worthwhile, depending on your aims here) to use nicehash for the older Cryptonight classic than to use it for the V7.  The ask prices for hashes seem more stable on Cryptonight classic too, which means it is easier to lowball your bid price and still secure the hashes you need.  (Incidentally, I got slightly more coins by using nicehash than I would on stocks.exchange - about 10% more - or the even pricier southxchange; if you try it, just make sure you lowball your offer so much you are only getting your order filled about 50% of the time and ignore all the warning emails.)

I suspect nearly all the hashrate for Dero and the other classic coins right now is due to a combination of asics and nicehash.  We are waiting longer than the others for a POW update, but I suspect, knowing our devs, that the wait will be worth it...