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RE: Monero Original (XMO) - A Pro Asic Anonymous Cryptocurrency
I disagree. You can pay for GPU mining hashing power which is just as good as owning ASICs. Also, those difficulty bubbles will be a recurring problem as ASIC manufactures will continue to be created for Monero as long as honeypot is profitable.
For true ASICs it's just not feasible. For example, the last fork happened over a month ago and the difficulty is still trending down, even more so after the Monero V snapshot.
If an ASIC was put on the market today, it would be good for 4 months tops before the next scheduled anti-ASIC fork. Building true ASICs for such short term use is just not a solid biz strategy and that's what the community stands firm by. If you can edit the algorithm on the fly, it's not a true ASIC.
Most of my XMR holdings are in cloud mining contracts so I understand your perception there, but the reasoning above shows that the cloud contracts are likely mining with high-end GPUs.
I've been posting a weekly Monero difficulty watch and there's no sign of them yet. The previous CryptoNight ASICs are mining DigitalNotes XDN, XMO and the other Monero Clone War coins 😂 on the old algorithm.
*up-voted & resteemed
ASIC resistance definitely has its pros as you listed, just seems forced because the algorithms are so mutable. Appreciate your insight thank you!