The end of Steem CPU mining [UPDATE]

in #stats8 years ago

In my previous post I gave my opinion on why I think CPU mining is over.

For the last days, mining queue has been monopolized by 2 miners : gtx-1080 and rabbit

Here a complete overview of who found pows in August :

If you look at the others share of the graph, you will see that small individual CPU miners are slowly going out of scope. For 3 days, Rabbit undoubtedly dominate.

But wait, that's not all. Now look a the ratio :

This is scary as Rabbit now owns more than 67% of the mining power !!

The competition is like

VS

what should happen?

Either the Dev team have to adapt the mining algorithm to it make more CPU friendly and allow CPU miners to get back in the mininq queue, or the we have to hope that GPU code will soon become public to allow more GPU owners to compete with current GPU miners ... and definitively forget CPU mining.

Any comment welcome. Share you opinion ...

images from : Pixabay - Shutterstock
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A few individuals destroying community involvement. I was enjoying getting a few blocks a day as a small user and I even made a guide to help others.
I was told you can't multiple mine one account but obviously they have found a way. I would prefer they put a cap on an account to allow more involvement from a vast majority than just a few mega monsters that could walk away at anytime leaving a big vacuum due to all the users quitting due to no results.

just a few mega monsters that could walk away at anytime leaving a big vacuum due to all the users quitting due to no results.

Exactly what I was thinking!
Btw, here is @dantheman's opinion on this situation : https://steemit.com/steem/@anonimau5/miner-witness-queue-weirdness

what kind of hardware does Rabbit is using? And does GPU mining is supported by Steem?

Rabbit never made any public talk. So we don't know who hides behing the account(s).
gtx-1080/supercompting chatted publicly on steem.chat as @nobody
So, we don't know exactly what type of hardware they use.
Nobody gave a few hints but not the exact description.

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Yup looks like STEEM has hit a tipping point that's for sure will be interesting to see which way this goes

Personally I would go with the most energy efficient for POW in the long term but it all depends i suppose

I have no idea which type of mining is the most efficient for STEEM.
It would be nice to have some benchmark with comparison between CPU/GPU /ASIC (if the last one ever exists)

More than 50% mining power in anyone's hands is BAD

I would not say having more than 50% power is "bad" as Steem is not vulnerable to a 51% attack.
It's not a security problem because 1 in every 21 block block is generated by a miner each round.
It is just annoying for other low power miner who are no more able to enter the mining queue and make a few SP.

One more option: Multi-algorithm.
That is, the dev can introduce one more CPU favorable algorithm (GPU resistant). At the same time, it is not right to change the rule of game so quickly (unless it is an exploit). So we can have two or more algorithms running together. One good example is DGC. Quoted from DGC ANN at bitcointalk:

Algorithm Control - If the last three blocks were discovered by the same algorithm, the fourth block will be rejected until its found by one of the other two algorithms. This prevents directed attacks on the network from any single algorithm."

This may be done by openning one more witness as CPU-mining witness. Or simply allow multi-algorithm to mine on the same witness.

Was wondering why I had gone from mining 2 or 3 blocks a day to 1 in the last 3 days. Definitely going to switch the miner off now as it makes zero economic sense to keep my computer running now!

Its not worth mining, I tried for a second time and still no blocks.

Sad to see this didn't get much attention. Could you please do an updated post on this because the situation now seems a lot worse? I couldn't get a snapshot of the whole queue but this gives an impression:

It's hard to see here but the queue is about 90% rabbit-xx - which clearly indicates that the problem is even worse than before.

I posted an update here