Bitmain releases Monero ASIC miners, but they may not work

Leo Zhang

By Leo Zhang

Technical & Updates

Bitmain announces Antminer X3, ASIC miners for Monero

Monero lead developer responses with a reminder of the PoW hard-fork

Why would Bitmain knowingly release ASIC miners for a network that is likely to fork away from its current Proof-of-Work algorithm, thus rendering the machines obsolete? Since most of other CryptoNight-based networks are much smaller.
Some speculations below:

Commentary from WhalePanda

WhalePanda's blog can be found here

Commentary from Zach of Sia

In January, Bitmain announced its Sia ASIC miner. Official response from Sia team can be found here. An in-depth interview with David of Sia and James of Vertcoin on ASIC resistance can be found here.

Commentary from Nic of Fidelity

Monero RingCT: 17% improvement in Borromean signature verification. Github

An introduction to the technologies used in Monero:

How Monero Diverges from Bitcoin to Achieve Fungibility: Part II of Our Review of Technical Approaches to Anonymity in Cryptocurrency
(Iterative Capital)

"The idea behind ring signature is the same as the mixing technique introduced in Part I. The larger the ring size is, the greater the anonymity set is. This 1-of-N input model is passive, meaning the user does not need to connect with the creators of the foreign transactions to form the ring. Monero enforces a minimum ring size to guarantee untraceability."

Liquid release candidate network is ready to go
(Blockstream, by Allen Piscitello)

Raspberry Pi 3 Model B+ on sale now at $35

"A 1.4GHz 64-bit quad-core ARM Cortex-A53 CPU
Dual-band 802.11ac wireless LAN and Bluetooth 4.2
Faster Ethernet (Gigabit Ethernet over USB 2.0)
Power-over-Ethernet support (with separate PoE HAT)
Improved PXE network and USB mass-storage booting
Improved thermal management"

News & Commentary

Zealots of the blockchain
(The Baffler, by David Golumbia)

"The economic framework on which cryptocurrencies depend emerges from right-wing and often anti-Semitic conspiracy theories about the nature of central banking."

Analog equivalent privacy rights (19/21): telescreens in our living rooms
(Privacy News Online, by Rick Falkvinge)

"In the analog world of our parents, it was taken for completely granted that the government would not be watching us in our own homes. It’s so important an idea, it’s written into the very constitutions of states pretty much all around the world."

Robots are shifting income from workers to owners
(Axios, by Steve LeVine)

"The chronology: Blue-collar misery goes back to the 1980s, when such workers began to suffer job, wage and benefit cuts, Autor said. But in the late 1990s or early 2000s, they were hit by a new phenomenon: the divvying up of the total economic pie — steady for decades — suddenly changed, and labor's share dropped, according to a new paper by Autor and co-author Anna Salomons."

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