bitcoin will change the hashing algo and render all the BFL shit useless!! HAHA

[hamdi]

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

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[enmaku]

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?

[Garr255]

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

Link me

[hamdi]

"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi

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

[Gyrsur]

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

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!  

[Jutarul]

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

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.

[ElectricMucus]

"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi

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

For all practical purposes it is.

[stevegee58]

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.

 

[Jutarul]

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.

 

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

[Cablez]

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

[imsaguy]

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.

[Shadow383]

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?

[hamdi]

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.

[Jutarul]

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.

[Unacceptable]

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.

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):



To this (more purpose built & streamlined) :



                            

[idev]

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.

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):



To this (more purpose built & streamlined) :



                            

[racerguy]

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

it seems to me you're on CRACK!!

[lame.duck]

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.

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

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

[Unacceptable]

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

lets see how many asic miners change to an algo that will make their hardware redundant

[K1773R]

"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi

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

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