Bitcoin Forum

new bitcoin hashing algo will use proof-of-stake and a memory-hard algo so that CPU mining will be the new thing.

Care to cite a source for your FUD?

Link me :P

the hashing algo is sure not part of the "core design".

gavin mentioned if someone will come out with a ASIC mining solution for bitcoin it will be a sign for him that bitcoin reached a level of stability...

nice try, anyway!  ::)

This has been discussed before. the hashing procedure is not going anywhere. And even if there's a major change. Miner's can take a loss. And I doubt it will change more then 1-2 within the next 20 years.

For all practical purposes it is.

Haha and the only ones who can adapt to the new algorithm will be those still holding GPUs.
And everyone who dumped their GPUs to recoup their investment and buy ASICs will be crying to buy the GPUs back.

 ;D

That's why a wise man always holds different types of hardware as a mix. Keeps him flexible.

All I hear is blah blah blah from both sides without any sort of validity.......or was I watching CNN again?

Nah, the cat stepped on the controller.. it was Fox News.

It's basically impossible to change the hashing algorithm once ASICs arrive, even if it's necessary... How on earth are you going to get half the network to switch if the vast majority of the hashing power can't?

sanity wants it to be that way.

we don´t need single crazy nodes with high hash power.

we need many nodes with expedient hashing power to keep the network alive and integer.

it´s what litecoin assessed to, bitcoin will be upright.

Big farms (>1 MW) are unlikely in short term because you'd eventually have to run a power plant to feed it. The practical limit for most miners is somwhere between 10 kW and 100 kW, which with an ASIC efficiency of 100MH/W corresponds to about 1-10TH.
But there will be a lot of those 1TH miners... If things progress they way they do now I expect PetaHash/s around 2015.

http://i63.photobucket.com/albums/h148/Bigblock462/Awjeez-1.jpg


There WILL be many nodes,instead of 1-2gh (most current GPU setups,like mine) they will be 5-20gh (like mine will be with 4 jallies).

From this (current GPU setups):

http://i63.photobucket.com/albums/h148/Bigblock462/redneck_harley.jpg

To this (more purpose built & streamlined) :

http://i63.photobucket.com/albums/h148/Bigblock462/RedneckWheelchair.jpg

                            ;D 8) ;D 8)

:D

it seems to me you're on CRACK!!

http://wiredre.com/data-center-for-sale/

I am sure there will other datacenters and industrial sites that could be used too.

im sry but this is total bullshit, hasing algo is a huge part of the core!

Nope!!!!
Application Specific Integrated Circuit.

Mathematics is an application,  by implementing the mathematical functions inside the ASIC as routines then building a micro coded state-machine engine that can load a micro program from either ROM or a stream, the "ASIC" can be re-puropsed based on the original trolls assumption of an algorithm change, screwing over the ASICS.
However IF the designers have hardcoded the function for SHA256 without a micro code engine, then any bug/change in the algorithm would potentially render the ASICS scrap.

consider it as
x=f(1)(f2)(f3)(f4)
instead of
x=1+2+3+4

Obviously it would only work within a given field, but it is still feasible and practiced today(intel microcoded CPU's)
HC.

Everyone can buy a $140 jalapeno. Not everyone can buy a $5000 mining rig or operate it.

ASIC will actually increase the distributed mining capability.

It appears not......

http://www.butterflylabs.com/order-form-bitforce-sc-jalapen


Error 404
Not Found!

You forgot the o. http://www.butterflylabs.com/order-form-bitforce-sc-jalapeno

K , someone has been screwing with

https://en.bitcoin.it/wiki/Mining_hardware_comparison

I will go in and re-edit it.

FIXED!!!!!