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Title: BTC vs LTC question Post by: notig on February 14, 2013, 01:34:15 AM I skimmed some info about litecoins and I think it said that CPU processing power will be the dominant force rather than more parallel, GPU or asic power.
Here is my question though............ isn't a distributed program where you want to keep power into hands of many people better with the parallel way? For instance when you go to butterfly labs and look at their highest end mining asic... all it really is, is a box full of smaller asics. What that basically means is that it's very modular in the sense that even the smaller players have the same performance proportional to their investment that bigger players do. But wouldn't a CPU oriented mining system end up being dominated by people with really powerful super computers? (like the CIA and our government probably already has.. ) Title: Re: BTC vs LTC question Post by: hanzac on February 14, 2013, 01:52:21 AM Litecoin also can be mined by GPU. So if the government uses supercomputer, ordinary people use a bunch of GPUs can beat them. So don't worry, everything is under control.
:D Title: Re: BTC vs LTC question Post by: someguy123 on February 14, 2013, 03:56:15 AM It's no longer a CPU only coin, it can be mined with a GPU now.
Title: Re: BTC vs LTC question Post by: smoothie on February 14, 2013, 08:21:05 AM Litecoin can be mined with GPUs and CPUs.
Litecoin can't be mined by Bitcoin ASICs. So if you buy ASIC for bitcoin you are locked into mining SHA256 coins. Title: Re: BTC vs LTC question Post by: crazy_rabbit on February 14, 2013, 08:25:34 AM Litecoin also can be mined by GPU. So if the government uses supercomputer, ordinary people use a bunch of GPUs can beat them. So don't worry, everything is under control. :D What's your definition of "supercomputer"? I'm pretty sure a 'government supercomputer' by todays standards could out run a good few thousand consumer GPU's. If not- they would just build one that could. Or better yet, if destroying our funny money coin was really a priority, they would just build an ASIC for litecoin and wipe it out in an instant. Or if they wanted to keep the option open to wipe out any future coins as well, they might just use 50,000 FPGA's, wipe out litecoin, reprogram them and use them for something else. All in a days work at the CIA I'd say. Piece of cake. Title: Re: BTC vs LTC question Post by: vdragon on February 15, 2013, 10:53:27 AM Litecoin also can be mined by GPU. So if the government uses supercomputer, ordinary people use a bunch of GPUs can beat them. So don't worry, everything is under control. :D What's your definition of "supercomputer"? I'm pretty sure a 'government supercomputer' by todays standards could out run a good few thousand consumer GPU's. If not- they would just build one that could. Or better yet, if destroying our funny money coin was really a priority, they would just build an ASIC for litecoin and wipe it out in an instant. Or if they wanted to keep the option open to wipe out any future coins as well, they might just use 50,000 FPGA's, wipe out litecoin, reprogram them and use them for something else. All in a days work at the CIA I'd say. Piece of cake. True - if the goverment wants to get rid of btc or ltc, its pretty simple. Declate war on terror, everyone who uses btc becomes a terrorit and its done. Second idea is dominating the network, which is not a problem... Dropping 100 million usd into some project is nothing for them. They will just print it :) Title: Re: BTC vs LTC question Post by: iHeartSmartArt on February 15, 2013, 01:07:49 PM i know very little about the process of mining.. but i have concerns over the gov and their computer power vs our mining efforts.
on litecoins, the difficulty is so low, would'nt it be the easiest target for the gov to corrupt? |