If there’s one topic that people can’t quite seem to get enough of these days, it’s cryptocurrency. And since mining cryptocurrency has also built up quite a buzz within the past few years, it’s no surprise that mining is still a big topic. But what is the state of mining nowadays? Well, it’s important to note that experts believe customer computer creations have a better shot of efficiently mining than hardware that is designed for general purposes. Also, many people in the crypto world have their eye on Bitmain. Poised to come out with better equihash ASICs within the next few months or so, Bitmain has been generating a lot of steam lately.
There is also a battle between flexibility and performance these days. The more flexible that a designer makes a chip, the higher the likelihood that it will lose some power. However, word has recently spread in the crypto world that some ASICs were making really big moves when it came to mining Monero. Hardfork resistant ASICs are becoming the holy grail for Monero miners. For a year, one small group was able to nab a lot of Monero without anyone realizing what was happening.
Indeed, secret ASICs are all the rage today, with mining farms offering a small fortune for them. Experts believe that even the smaller alt coins will be targeted by ASICs, as the rewards that can be reaped are often huge—even when a coin is not that high-profile. In fact, experts are now saying that any POW coins with an annual block reward of over $20 million have been targeted by secret ASICs—or will be within the very near future.
Although Bitmain has been investing a great deal of money into creating these ASICs, units have been flying off the metaphorical shelves so quickly that they have been managing to recoup their initial investment—and double it—within just a few days of release. With triumphant YouTube videos popping up, miners are sharing their earnings with other crypto enthusiasts. Some of these YouTubers are claiming that their profits are hovering around $800 per day. Now that ICOs have been made aware of these claims, it should be very interesting to see how the crypto world reacts within the coming weeks and months.