Miners and Forks- What The Fork is Going On?
Miners and Forks are a hot topic since yesterday Bitmain announced their latest miner the Antminer A3, claiming it is the most powerful and efficient blake2b algo miner on the market.
This announcement is interesting because it is the only ASIC available for the Blake2B Algorithm available and it is promised to be delivered within 10 days from purchase. Not many have been sold publicly, yet. Bitmain has only released a few of these machines and they are doing so every hour, all day long, limiting them to 1 per account.
This New Bitmain A3 miner has the whole SIA community in an uproar because they feel as if Bitmain is intentionally swooping in to grab profits before SIA was able to release their own Obelisk ASIC which is to be delivered in May of this year.
Miners and Forks – anger grows
The anger from those who purchased an Obelisk Miner months ago is understandable, because they may never get a decent ROI on their purchase with so many more asics on the network mining increasing the difficulty and competition. But why is the Core team upset? Are they losing money as well because ninja competition has emerged destroying plans to be the first SIA ASIC hardware on the market?
When it takes many months to produce an ASIC you can expect competition is around the corner. From what we know 3 companies are now creating ASIC units for Blake2B.
As the chat continues for hours upon hours in the contributors SIA discord channel, they are still unclear as to what they will do now. Do they activate the secret switch in the SC1 miner to adjust to a fork or do they keep on trucking?
Words have been said about the fork that may seem unsavory to some. Rumors and theories are flying in the discord channel. One such suggestion implied that the goal was to block Bitmain and dragon mint from competing in this niche algo market because they are being greedy.
Here are prices as at this time I have purchased both after each unveiling, I will leave this for you to judge.
Other rumors (totally unconfirmed, take this as gossip for now) include pointed accusations in answer to the question “Why?”
Rumor 1. “Because they may 51% the network.”
Rumor 2. “Because SIA core will not profit from owning 20% of the Obelisk Hashrate.”
Many are asking “Will the fork be voted on?”
Below are some comments from David Vorick himself.
Well, it seems that David may not just be protecting the chain but also some other factors as illustrated in the images.
Most miners will agree- a fork is NEVER welcome on a blockchain and to do so will cause many to lose faith in the project for a long time. Just ask Vericoin how long it took them to recoup from the fork they did years ago after a hack.
Bitmain hinted to those who were paying attention over a month ago that they will be building this miner if you see in the photo behind the speaker at the conference below
With Bitmain beating Obelisk to the market by many months we will soon see difficulty rising as it already has been. As a new mysterious pool appeared 2 months ago mining 20% of the network with many saying it is Bitmain testing the products before bringing them to market.
According to a vote, many are in favor of the fork, and this just may happen, Crypto Core Media will keep you updated. Feel free to join SIA discord and go into the contributors’ channel to vote on this fork.
Miners and Forks: My 2 Satoshi:
SIA can fork and deal with more problems that may hinder SIA development long term, or they can learn to compete in this new market they ventured into.
Who is stepping on whose toes here? A monster in Asic development company may have seen Obelisk as new asic competition and hold their ground by beating them to the punch or perhaps Sia miners see a dominant company mining more than them before they get their Obelisk SC1 cause for alarms.
In the spirit of free markets and open competition that allows for more options to consumers, better quality products, competitive pricing and more… I hope SIA continues the vision that they have on their roadmap and at the same time build better miners over time to compete in the big leagues.
At the end of the day, a fork is a fork. If we fork for every asic company that pops up then this will be an ugly road.
In the words of the great Milton Friedman…
“Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy.”
They will not be changing the algo due to Bitmain A3 mining machines but will be hard forking to fix an issue on the network. You can see Announcements below: