Tuesday, 20 March 2018

Monero Forking To Stop Asics

As you might have seen in seven days roughly Monero will be forking to a new algorithm, CryptoNightV7. Why you may ask? Well this is because of a new breed of ASICs that have been released by Bitmain and another mining company. I cannot tell you enough do not fall for buying into the cryptonight ASIC miners, by the time you get it you will never ever make a return on it. Especially with all the main CryptoNight coins looking to fork over to a new ASIC proof algorithm

Bitmain are currently selling these miners for $7000 and are expected to be dispatched in May, which means by the time you get this miner Monero will have forked and expect earnings to be drastically lower. Normally I support Bitmain having bought from them for a long time, but these stand out to me as a big no no. Especially if you look into XMR's network hashrate the last few months you can almost see where these have been introduced. Some of you might be willing to take a gamble or a risk on these as the figures look to good to be true, please be careful and if you do get one please send us some feedback

XMR Countdown clock can be seen here

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