Bitcoin Forum

The only reason why ASIC is going to prevail over GPU,
because its over 9000 times better then Gpu.
Thoughts?

Give me some cons and pros of Asic mining, bitcoin economy,
and some personal reasons why you would like/dislike it.

Correction:
The only reason why ASIC is going to prevail over GPU,
because bitcoin decided to put away childish things.

Pros: It makes attacks using commodity hardware (eg, botnets, which are one of the more serious threats at the moment) much less efficient, which increases security. By the same token, it provides the same level of security against such attacks while consuming far less energy (the amount of energy used in bitcoin mining is something detractors are constantly complaining about for some reason).

Cons: No prototype has ever been publicly demonstrated, and they may not actually exist yet, despite claims to the contrary. Some have accused the manufacturers of being scammers, though it's entirely possible their suspicious behaviour is a desperate attempt to avoid the fate of the Osborne Computer Corporation (whose premature announcement of a relatively advanced, but not-yet-existent computer system led directly to the company's bankruptcy when customers cancelled their orders for existing products and as a result the company didn't have enough money coming in to actually develop and release the new system).

Because all the lightweights will be pushed out of mining leaving only serious investors. No longer will teenagers be able to participate using the cool graphics cards mommy and daddy bought them for Christmas. The only children mining will be the ones that can convince mommy and daddy to buy them this thing they have never heard of and don't really understand.

yup...

Well I hope not  :( because That's $2600 that would be gone for good

Is it true that the block reward is going to halve before BFL have their ASIC rigs out? That will screw up many miner's profit margins if true lol.

really does not matter, if ASIC arrive before the reduction,  with the abrupt increase of hashrate the reduction would occur quickly.

The point I was trying to make was that it will suck for people who shelled out on ASICS not to have them for X months while gpu mining for half of what the block reward is now.

You know, the only people I’ve ever met in life that make a point by verbally abusing someone are always gutless and completely lacking insight. They have never been worth talking to because their logic is always flawed. I think I’ll just ignore you. 

I have to say that, watching from the outside, these ASIC devices are starting to sound like the white unicorn. Once they have been delivered to customers, I will believe they exist. Bitcoin lends itself to vaporware.

In my opinion bitcoins growth was due to miners getting on board with stuff they could easily buy or already had. Now you need to buy specially made asics which will make many people just leave bitcoin for good. I know i am considering it. I am not sure i want to keep playing the upgrade game with asics. A year from now a newer asic model will come out making the existing models shipping soon todays gpus. And those older models will have next to no resale value compared to a gpu. Eventually you will have to keep buying more and more hardware to keep same revenue coming in.

So in summary.. I think a lot of people will move on and newbies will be a fraction on what they once were. You are left with newbies having to buy bitcoins to get involved. Most will say no thanks. Gambling and buying drugs appear to be bitcoins main growth reasons. Not good.

You'll wanna play once you see how low ASIC price drops.




Newbies can always buy the new ASIC plug-&-forget model.




Bitcoins main growth reasons is the fact that once someone pays us, we stay paid.

Do you think the prices will drop? I've worked with ASICs in networking applications, and everything I know about them suggests that they are very expensive.