Re: [XMR] Monero Speculation

I don't think you understand that centralizing network hash with ASICs is detrimental to network security.

I don't think you understanding anything about cryptocurrencies.

Have you heard about Bitcoin? It's the most secure crypto network, courtesy of ASICs.

It's scary that a decision so important was taken following a Reddit mob, or a secret committee of devs, with such a poor understanding of the matter.

Mining centralization hasn't made Bitcoin the most secure network, it's made it an easy target for China if they decide they want to disrupt the network--looking at hashing power in a vacuum is a pointless exercise as there are numerous factors that go into how secure a network is.

Also, the person you are addressing has forgotten more about cryptocurrencies than you know, or likely will ever know.

I agreed, he has probably forgotten a lot more than I could.

I am happy to learn that Bitcoin isn't the most secure network because you say so. You are an invaluable source of knowledge.

Bitcoin developers would make Bitcoin ASIC resistant if they could. But they cant since Bitcoin dont fork every half year to make needed upgrades. Sooner or latter Monero will not be ASIC resistant anymore. Lets hope that will not be so soon and lets hope ASIC market will mature until then.

The fact that Bitcoin devs cannot fork Bitcoin to change a core feature on a whim is one reason why Monero will never compete against Bitcoin on the monetary use case.

The fact that the devs can change the POW on Monero is a fucking disgrace and strongly diminish its long term expected value. I look forward to see their next unilateral change of a core protocol feature.

Did you buy one by any chance? Seem a bit sore there. Hueristic's comments are spot on. Its not just about hash. Its about distributed hash. So the overall hash needs to be weighted by the participants in the network. Look what the 51%ers have done to a number of coins lately. Being dynamic on your algo moves from the MAD doctrine to the SAD one. These being 'mutually assured destruction' to 'singularly assured destruction'. ASICS would be fine if they were a commodity and all miners would easily have access. Maybe one day but until then....