Not much going on so far today. BTC at $9257 right now on Gdax. So far today we have tested the $9500 ceiling a few times but not able to break thru. Lets hope by late this afternoon we are knocking on $10000 door.
For all us gpu miners things are about to get scary. Bitmain is coming out with a specialized ASIC miner that can mine Ethereum @ 200-220 M/hs. Baikal Miner a direct competitor to Bitmain has also just released a specialized miner that can mine on the Cryptonight algorithm. They can mine 20 M/hs on Cryptonight and 40 M/hs on Cryptonight Lite. As of today the cost of a Baikal Giant N is $3600 and must purchase a minimum of 6 machines if you order from Baikal direct. This really has me nervous. The Cryptonight algorithm mines a lot of different coins, the main one being Monero. I have read that the devs of Monero may try to fork and make a coin that is resistant to the new Baikal miner. But I really doubt that will happen. I just know between Baikal and Bitmain dumping these new style asic machine on the market is going to hurt us gpu miners.
What to do now? Do I buy the new type asic machines or keep buying gpu? One good thing is that the business partner said he wanted to stop spending money for a little bit. Since he just paid a huge bill on upgrading the power. I guess that will give me a little time to see what happens in the market. But if I do tell him about what is going on with the miners he may say go ahead and get the new machines now. And lets say I do get them now, it will take 2.5 weeks to get to me. My biggest worry is if I get them and Monero does the fork. $21000 for the machines and another give or take $1000 on essentials. WHAT DO I DO???
