The CryptoNight ASICs are also mining DigitalNote XDN.
"No mining algorithm can stop an ASIC..."
Correct, but the algo will change every 6mos. It's been just over a month and we are getting lower difficulty than the fork date. Even lower since the XMV fiasco.
In-fact the lowest XMR mining difficulty since December 15th, 2017 according to the latest Monero XMR Difficulty Watch
As long as Monero can be profitably mined on GPUs and lower end hardware it will be more decentralized than XMO and be the more profitable altcoin to mine.
I disagree. You can pay for GPU mining hashing power which is just as good as owning ASICs. Also, those difficulty bubbles will be a recurring problem as ASIC manufactures will continue to be created for Monero as long as honeypot is profitable.
For true ASICs it's just not feasible. For example, the last fork happened over a month ago and the difficulty is still trending down, even more so after the Monero V snapshot.
If an ASIC was put on the market today, it would be good for 4 months tops before the next scheduled anti-ASIC fork. Building true ASICs for such short term use is just not a solid biz strategy and that's what the community stands firm by. If you can edit the algorithm on the fly, it's not a true ASIC.
Most of my XMR holdings are in cloud mining contracts so I understand your perception there, but the reasoning above shows that the cloud contracts are likely mining with high-end GPUs.
I've been posting a weekly Monero difficulty watch and there's no sign of them yet. The previous CryptoNight ASICs are mining DigitalNotes XDN, XMO and the other Monero Clone War coins 😂 on the old algorithm.
*up-voted & resteemed
ASIC resistance definitely has its pros as you listed, just seems forced because the algorithms are so mutable. Appreciate your insight thank you!