NiceHash to Support Both CryptoNight and the New CryptoNightV7 Algorithms

20 Mar
2018

The controversy surrounding the release of a number of CryptoNight ASIC miners from various manufacturers and the upcoming fork of Monero (XMR) and some other crypto coins to a new ASIC-proof CryptoNightV7 algorithm continues. NiceHash has recently announced that they will continue to support both the old CryptoNight as well as the new CryptoNightV7 algorithms. The service should add support for the new V7 algorithm by the end of the month, probably before the Monero fork planned to happen later this month. Furthermore a new NiceHash Miner that will bring support for the CryptoNightV7 algorithm should also be available soon, so while the updated POW algorithm will be ASIC-proof you would still be able to rent a lot of GPU hashpower apparently.

Other crypto coins that are using the same cryptoNight proof of work mining algorithm are expected to follow suit and also fork to the new ASIC-proof version of CryptoNight, though it would most likely take them some extra time. There are some coins that have already announced their plans to do a hard fork and follow in the footsteps of Monero (XMR), others are still considering and of course there will be some for sure that will remain on the old algorithm that can be mined using the upcoming wave of CryptoNight ASIc miners. Still going for a CryptoNight ASIC miner at the moment is considered very risky and will most likely cost you much more that you would be able to mine back, though there are no guarantees.

To keep track of the time left until Monero (XMR) hard forks to the new CryptoNightV7…



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8 Responses to NiceHash to Support Both CryptoNight and the New CryptoNightV7 Algorithms

ASIC will Rule the World!

March 20th, 2018 at 14:27

I hope the Fork will kill the original XMR and lets the ASIC chain survive.

You have to be a blind fuck think you can compete with ASIC in the long term ???

Let all ASIC move to a “new Monero” and grow SO BIG that XMR cannot even compete and shoots themself in the foot. Price of XMR will decline rapid and the GPU boys still have nothing ;)

wad2

March 20th, 2018 at 18:25

ASIC will Rule the World! – seems like you bought that ASIC already?

Old Monero will die and new one will prosper, developers AND miners supporting it, there is not even a single doubt about that.

ASICs are huge plague in world of crypto it centralizes mining, decision making and consensus, it really dangerous and should not be like that on any coin.

ASIC Will Burn

March 25th, 2018 at 21:55

ASIC will Rule the World! – I hope your asic miner catches a light and burn down your house with you in it.

ASIC Revolution!!

April 6th, 2018 at 12:21

We should start a petition forcing the government ban all asics in the crypto world.

Anonymous

April 6th, 2018 at 18:16

just think how dumb all these people are with asic farms. they could have been living it large on £300 gfx upgrades to get another £5 per day, instead of purchasing a £2000 asic (on a good day) to make £6 profit. But because of no real care for crypto, or a basic understanding of the difficulty, they lower profits by a huge margin, just to get a quick £100 per day for a week or 2. Thinking about the quick gains, and not the long term.

couldn’t stop trolling the bitmain forum when i heard about cryptonight v7 hahahahhaha

ken

April 10th, 2018 at 18:10

vote fork onb etherum e3 asic as well

ollieg

April 15th, 2018 at 13:33

ok, i get what your all saying but bottom line what makes more money in the long run ? and ROI is very important
prices for some gpus ROI is upto 4years we could be all dead by then some of us will be so asic mining looks better in short-term,
let us talk about whats best for making money and has best ROI ,gpu vs ASIC pros & cons ???

Val Hai

April 18th, 2018 at 03:21

Dumm comments. You people who hate ASIC’s don’t even think. OK Monero make Fork so who is going to loose just regular miners who spend $2k to buy ASIC and make $20 per day (other way you need to spend $3k-4k for PC’s and Graphics and make $10 a day in best case and electricity bill with ASIC is $10 to $50 a month not $100- $200 with PC mining – personal experience). ACIS making company’s never going to loose they are the big fishes in this game, after the Fork Bitmain, Baikal and etc. will just change new miners what they will release in the future to the new algorithm and they will still be in the game and ordinary people will keep loosing money. PC mining (GPU & CPU) is dead because uses too much electricity and profit is too small to cover bills and hardware expenses and I’m sure that’s why most of you are haters and you want to see ASIC’s dead. Also if you think a bit more and read some news you will see that this is the war between Nvidia, AMD & Intel (which are the biggest loosers) and ASIC’s company’s from the other side, so to make it simple for some people – AMD, Nvidia & Intel loosing money because of ASIC’s (and this is my opinion they give some $$$$$ to correct guys/Monero developers/ to change the algorithm and stop ASIC’s so they can comeback in business). At the end me and you we are ordinary people and we going to keep loosing money when big players will keep making money

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