What is a Antminer X3? (ASICs vs Hard Fork vs Monero …

On the 15th Mar 2018, Bitmain expelled a Monero ASIC miner called the Antminer X3, or rather a CryptoNight miner – the algorithm Monero now uses. Because of an arriving hard fork, and several other factors, this is a very high risk miner to buy.

This beam will go through the risks of shopping an Antminer X3, review this opposite the D3 A3, and explain the aptitude of arriving forks other CryptoNight-based coins.

What is the Antminer X3?

On the 15th Mar 2018, Bitmain posted this tweet where they announced the Antminer X3, an ASIC miner for the CryptoNight hashing algorithm. It offers a hashrate of 220 KH/s at 550W. Compared to existent CPUs and GPUs, this is very high. This is 113x aloft than the XFX R9 295X2 graphics card, which was deliberate a essential GPU in Jan 2018 (drawing a identical volume of energy as the Antminer X3, so the X3 is also 113x more efficient).

See this guide for a comparison of ASIC miners opposite cloud mining, as before to the hard flare on the 6th Apr any Monero cloud mining contracts will see profitability decrease. After the hard flare we wish that cloud mining contracts will continue to support Monero (we’re awaiting acknowledgment on this from CCG Mining).

In short, if Monero stranded to the CryptoNight hashing algorithm, any existent CPUs or GPUs would expected no longer be essential for mining Monero – as the Antminer X3 is so much more fit in comparison.

Antminer X3 Competitors

A number of competitors to the X3 have been expelled in mid/late Mar 2018. We wrote a apart beam analysing these here, which includes:

  • DragonMint X1
  • DragonMint X2
  • PinIdea RR-200
  • Baikal Giant-N

At the time of essay this, the DragonMint X2 in sole is very rival with the Antminer X3 in hashpower, energy use and cost.

Why is the Antminer X3 so high risk?

Well to start, take a look at the X3 stream profitability here. It’s very high. Right now with no problem changes you’d potentially make $118k off a singular Antminer X3. But the problem is that this isn’t going to stay the same, it’s going to dump significantly. The impulse people who have bought these new CryptoNight ASIC miners start branch them all on, the difficulty is going to boost very quick (it’s already left up a lot recently, potentially due to manufacturers using them).

Looking at this skeptically, what happened to the Antminer D3 might occur again, where so many of these were sole that the D3 now has a 21% yearly lapse on investment for mining Dash, and as low as a 1% lapse if you take into comment doubtful problem changes. So anyone now mining with the D3 might potentially never acquire their income back. The Antminer A3 also looks to be in an early theatre of this (although because of the arriving Monero hard fork, explained below, CryptoNight might be effected much more significantly).

Monero Hard Fork vs Antminer X3?

Firstly, you should be wakeful that nonetheless many cryptocurrencies hang to one proof-of-work algorithm, e.g. Bitcoin uses SHA-256 and Litecoin uses Scrypt, they don’t have to. If the group behind a silver wants to change this algorithm they can. In an central matter (linked from their website here): “the Monero group and village always pronounced Monero should stay ASIC free“. So this is zero new for stream Monero miners, but might be news to anyone code new to Monero mining, maybe deliberation shopping the X3.

Now it can get a bit confusing. There are two hard forks designed in the nearby future. See this post if you’re uncertain what a hard flare is. In short, it allows changes to be made to to a silver like Monero. The first arriving hard flare is a network ascent on XMR, and the second will emanate a code new silver called XMV. A brief outline of each:

  • Network upgrade: On the 6th Apr 2018, Monero (XMR) will be hard split without formulating a new coin. So this will just make changes to what you might know as XMR (one of those changes will expected change the algorithm to deter ASIC miners). This new algorithm is mostly referred to as V7 (or ‘version seven’).
  • MoneroV: On the 30th Apr 2018, a new silver will be combined by hard forking Monero (XMR). The new silver will be called MoneroV (XMV). After this fork, you will have the choice to use XMR or XMV. Be wakeful that there are many security concerns with XMV that you should be wakeful of before perplexing to explain any through the hard fork.

So at the end of Apr there will be two variations of Monero, a bit like Ethereum where you have ETH and ETC (Ethereum Classic). Both of these seem to have the proof-of-work changes from the first hard fork, then XMV will make serve changes. This means both coins will expected be resistant to ASICs, including the Antminer X3.

See this post from 8th Mar 2018 for a good overview, in particular: “There are rumours someone is almost prepared to boat ASICs and some are used to cave Monero. To opposite this, since the Monero group and village always pronounced Monero should stay ASIC free, the mining algorithm will change somewhat to stop stream ASICs.” NiceHash have announced support for this new V7 algorithm, so anyone mining Monero on a GPU should be means to continue doing so.

In Bitmain’s recover proclamation for the Antminer X3, they chose their difference carefully, naming a CryptoNight miner rather than a Monero miner, as they were expected wakeful of Monero’s position on being ASIC resistant.

Are other CryptoNight-based coins apropos ASIC resistant?

Well firstly, take a look at this list to see other coins using CryptoNight. Generally most of these coins seem to be in agreement, that ASICs might deliver a risk to fortitude and decentralisation, and so they should be resistant to ASICs.

The conditions around each coin:

  • Electroneum seems to be giving churned messages.
  • LeviarCoin seems to be “switching to Monero’s code” (it’s misleading if this would be V7, which has ASIC insurgency for the Antminer X3, etc.).
  • Intense Coin will follow Monero’s anti-ASIC measures.
  • Sumokoin skeleton to recover an ASIC-resistant algorithm soon.
  • GRAFT supports the anti-ASIC movement.
  • IPBC‘s CEO has suggested they will be anti-ASIC.

Article source: https://www.anythingcrypto.com/guides/antminer-x3-profitability-2018

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