we'll reach minimum block reward sooner / the total number of coins will bottom out....
My only concern is that this behavior will result in the DRK network never having the momentus hashrate that makes other blockchains untouchable.
One 3TH/s ASIC would rape the whole network instantly. I'm not saying that X11 = SHA256 Double Round. But that ASICs are inevitable with anything that catches on enough to have value. We all hope it catches on simply because it's a good idea. But the value that comes with it will drive ASICs into X11. DGW3 certainly discourages it as the network hashrate is already reaching minimum with a few dozen GPU rigs... But it might be stifling it so much that the network will never have appreciable hash defense.
If say, guvthugs decided to build just one "X11 Neptune" of their own, DRK breaks. None of this "buying masternodes" crap arguments. They really could buy all the hashpower they need without touching a GPU or the markets simply by building one custom ASIC. Dev cost on that is a few million bucks in bureaucracy free-to-them taxed money.
This is why ASICs are actually a good thing for a coin. If you don't let your coin become an ASIC coin, then it takes one fat wallet to make one for themselves and your coin is borked. If your coin isn't using them, then it becomes a nuke they can drop on it.
My hope is that DGW3+X11=ASICs still happen, but the reward is low enough that the ASIC's price will have to be sensible enough that anyone can buy it, thus avoiding centralization. But, that doesn't seem to be what is happening. If a coin stays GPU/CPU mine-able, then a clandestine FPG or ASIC becomes a cheap (in the eyes of it's creator who has way deep pockets) saboteur. You MUST let your coin escalate into ASICs or it's doomed by anyone who can afford to make The Bomb.
We are in full agreement. I'd rather have public ASICs rather than totally private ones that can own the network.
One note though: Whether DRK will be profitable to mine or not, will not only depend on the block reward but also coin price. If, by the time X11 asics come, there are like 50-80-100 x11 coins, it might be the case that many of them might be more profitable to mine. The large number of x11 coins, is, in a sense, a guarantee for ASICs appearing at some point.
Actually, someone did announce the world first x11 ASIC a few pages back...
It was a joke by that poster
