CPU Mining - 2018!
A few weekends back I finally experienced what the "day one" miners of Bitcoin experienced - mining with your CPU. I must say it is a very exciting feeling, do not get me wrong I have mined with an ASIC (leave your weapons at the door) and it has felt like a factory.
The joys of mining and understanding the blockchain of the coin intimately has been taken away.
While on the #smartcash discord whenever I go to the mining channel to read the chats there, It always seems like the chats were from another dimension - now I know why.
My CPU Mining Experience
On this day #UNIQ a new cryptonight coin launched. As part of my testing I got to mine on my MacBook using the GUI wallet and CLI. It was almost shocking to see my very low hash 50 to 75 h/s could find me a block! Lets put this in context. My first miner was the iBelink 11G which I got last summer (and yes its now obsolete) with this miner last summer I went from mining 0.45 DASH daily to mining none at all. It seems to me higher was better, and the race to higher hashes never ends.
I resolved to myself when ever you feel the urge to buy an ASIC miner DO NOT, buy the coins instead or just hold the Bitcoins
After all the test everything was cleaned up and ready to launched, having had so much fun mining during the test, the moment it was announced and launched I decided to mine with my CPU. I connected through the built-in GUI miner and found I was the only one on the network with my 50h/s (history in the making) I could almost imagine what Satoshi felt when he mined the first Bitcoin. The seer excitement of codes working as expected. This excitement was very short lived as I saw the hash go from 50m/s to 8mhs. The ASICs and GPU farms and rentals had arrived and it was time for me to close my wallet and enjoy the memories of the cpu mining.
I wonder is the ASIC invasion inevitable? Is resistance futile ?
One of the clearly documented values of Bitcoin and hopefully the Cryptocurrencies is the peer to peer decentralized model and by extension returning freedom to the people through financial independence and freedom from corrupt systems. The understanding of this would imply a common goal of people working together all going in the same direction. We all know this is not the case. It would appear the level of greed that spawned the need for Bitcoin has found its way into the cryptocurrency space. The need for some to exploit others can be seen in the prices charged in this space for mediocre services from exchanges, mining pools, conferences and the sub-standard products passed on to the end user in the crypto space. Progression is the natural order of things.
- Movement: walking - bicycle - cars - planes - jets
- Movies: motion pictures - VHS -DVD - video streaming
- Home Telephone: switchboard/operator - rotary phone - dial pad phones - voice controlled phones -mobile /smartphones
- Mining: CPU - GPU - FPGA - ASIC
Growing up the mantra was get the best tools for the job. When it comes to POW mining if the objective is to create coins the best tool for the job is clearly the ASIC miners. Have you ever wondered why the push back against the natural flow of things? Well the answer is clearly in the battle between the need to be free vs the need for another to be in control. Who would win this battle? only time will tell.
My conclusion is that technology is not good or bad. It's a reflection of the people who use it.
As I wrote this article, I had to confront my true position on ASIC miners when asked by my husband " what would you do if ASIC miners were made for #smartcash or how would you feel about ASIC miners on the #smartcash network? I felt a sadness and the need to protect that which I cared about. It gives me great relief to know such an attempt would not be in the best interest of the miners as they would be creating more wealth for the #smartcash community as they would only get 5% of the blockrewards.
I wrote this article about 2 weeks ago and in that period there has been several 51% percent attacks on various projects. It would appears the culprits where not the ASIC miners as feared but GPU miners through NiceHash and other similar rental services. There is a light at the end of the tunnel. Not all attempts were successful. The attempt on #GameCredit failed primarily because they had taken up #Komodo's Notarized Service - In simple terms its an highly encrypted backup of the Game Credit blockchain to both #Komodo and the #Bitcoin blockchain making it almost impossible to break.
A three cord string is not easily broken
Finally
The cryptocurrency space should learn from this only attempt that failed there is strength in unity we should collaborate more and fight less. Lets understand there is enough room for all projects to excel and we would all solve different needs. The world is waiting for the solution the next project to you will provide - support it.
Consensus on a global scale is possible as shown by the launch of the #EOS mainnet with 100% "yes" votes
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Please Read My Other Articles
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How to Invest in SmartCash part 2 - for Non Geeks
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SmartCash Coin of the Future
Coins mentioned in post:
@smartbot tip 30
Σ$$$ Tipped @nitego
Σ30 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.066 USDperSMART. Current value of the tip is$1.98 USD. To find out more about SmartCash, please visit https://smartcash.cc.Mining 0.45 DASH daily is like a dream omg.
@fr3eze and funny part was I did not know it then.
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