Will we be able to mine Litecoin with ASIC's?

[Epicblood]

no.

/thread

this.

And yes, it has been discussed many times.

whats the problem?

How can you be a Hero member with 1900 posts and not know this??

Because I'm 420 man

Maybe it's time for a bets of bicoin

"A company will be working on a litecoin mining prototype ASIC by the end of 2013"

do it

[420]

no.

/thread

this.

And yes, it has been discussed many times.

whats the problem?

How can you be a Hero member with 1900 posts and not know this??

Because I'm 420 man

Maybe it's time for a bets of bicoin

"A company will be working on a litecoin mining prototype ASIC by the end of 2013"

do it

i'm too busy to take the time to word it right and specific to not be rejected by betsofbitco.in

[Epicblood]

I'd do it myself, but I don't have enough BTC xD

[CoinHoarder]

It seems that we will see FPGAs before ASICs... aren't they easier and cheaper to develop?

Therefore, ASICs by the end of 2013 for LTC seems doubtful. 

Also, there's a lot less money in LTC compared to BTC due to current values of each.

[scrybe]

It seems that we will see FPGAs before ASICs... aren't they easier and cheaper to develop?

Therefore, ASICs by the end of 2013 for LTC seems doubtful. 

Also, there's a lot less money in LTC compared to BTC due to current values of each.

Yep, FPGA is generally used to prototype until ASIC designs are locked down and can be produced. Sometimes the transition to ASIC comes before shipping the first product, sometimes it never happens. It all depends on the comparative economics and performance you need. In the case of LiteCoin we want to do as much work as possibl, so ASIC is likely to have a speed/cost/density performance in the long run, but a stop at FPGA (or a year or more of just waiting with just GPU's) market more mature before the economics make sense. Heres some numbers I did on the last page to show the scale of difference:

Right now there are ~$60k worth of LTC being generated each month (30 days at current difficulty, at current full network hashrate) compared to $2.6M each month worth of BitCoins, and we are just hitting the point where ASIC makes sense on Bitcoin. I think Litecoin mining is going to have to be worth a LOT more (30-40x?) before someone invests in the ASIC implementation.

[Bogart]

"Litecoin ASIC miners will be available to pre-order in 2013"

http://betsofbitco.in/item?id=824

[scrybe]

"Litecoin ASIC miners will be available to pre-order in 2013"

http://betsofbitco.in/item?id=824

That's a harder bet to call, nice.

pre-orders could be up to 4-6 months ahead based on BFL, which means we are more like 18 months out. I'm not betting this early!

[420]

kick booty. i had to vote agree.

i think if bitecoin asic's come out within 3 months, there'll be a rush for maybe up to 5 months of releasing new versions...could be a lot longer

but somewhere people are going to think...its hard to keep up with bitcoin asic hardware to remain profitable, but theres this big market demand over here for new litecoin mining hardware...

and apparently all they need is the idea and some feasibility to start the pre-order process where they would get the money to then RESEARCH AND DEVELOP it LOL

[scrybe]

kick booty. i had to vote agree.

i think if bitecoin asic's come out within 3 months, there'll be a rush for maybe up to 5 months of releasing new versions...could be a lot longer

but somewhere people are going to think...its hard to keep up with bitcoin asic hardware to remain profitable, but theres this big market demand over here for new litecoin mining hardware...

and apparently all they need is the idea and some feasibility to start the pre-order process where they would get the money to then RESEARCH AND DEVELOP it LOL

I think you are seriously overestimating the profit potential right now., as I said earlier:

Right now there are ~$60k worth of LTC being generated each month (30 days at current difficulty, at current full network hashrate) compared to $2.6M each month worth of BitCoins, and we are just hitting the point where ASIC makes sense on Bitcoin. I think Litecoin mining is going to have to be worth a LOT more (30-40x?) before someone invests in the ASIC implementation.

This means that you can make the same amount of money as a vendor capturing 2.5% of the BitCoin mining hardware market as you could capturing 100% of the LiteCoin market.

The price of LTC is going to have to shoot up like a rocket ship to get the kind of potential goods and services market built around it that BitCoin does. Right now it is a tiny fraction.

420 is 420 thinking we see ASIC in 3 months maybe FPGA in 4-6, and ASIC in 18 would be more my guess.

[tacotime]

There's already been a lot of talk about this in the alt chain forum. Basically any ASIC made now, unless it has a massive memory bus and high speed ram e.g. gddr 5, will be really slow. I would guess it'll be a little more efficient, maybe 2x-10x. But anyone making an ltc asic really has an uphill battle against gpus because they're so damned cheap and fast.

[420]

http://alpha-t.net/product/scrypt-asic-miner/

They are verry near.

I can hardly wait

[michaelmclees]

I so wish I would've stayed in LTC.

[Soros Shorts]

Yep, once you are out of LTC you are out for good.

[MWesterweele]

http://alpha-t.net/product/scrypt-asic-miner/

They are verry near.

[digicoin]

ASIC for scrypt is real now. Most of people who said no in this topic look stupid 

[420]

Were pre-orders already taken?

[efx]

ASIC for scrypt is real now. Most of people who said no in this topic look stupid  

They look stupid for correctly explaining the intentional difficulties scrypt introduces for scaling on relatively cheap core density like basic sha2?

Note, basically everyone in this thread made it perfectly clear that the discussion was based on the question of whether SHA2 asics (which do not contain sufficient cache by design, it's the most expensive component of any consumer compute device)  would ever being capable of mining scrypt effectively.

Perhaps you don't know the definition of 'stupid'.


Also, until one of those devices is in the hands of a regular customer, then we have nothing more than the same rubbish BFL fed you guys for months and there's most likely not going to be nearly as huge of a price/hashrate advantage as we saw with sha2 asics from most of these first gen designs.

[CoinHoarder]

Reading this thread was like jumping in a time machine. 

[anyone4u]

gridseeds are already outdated http://techcrunch.com/2014/03/20/kncminer-sells-2-million-worth-of-scrypt-mining-machines-in-four-hours/?ncid=tcdaily
100mhash for 10k

[CoinHoarder]

gridseeds are already outdated http://techcrunch.com/2014/03/20/kncminer-sells-2-million-worth-of-scrypt-mining-machines-in-four-hours/?ncid=tcdaily
100mhash for 10k

pre-orders are for noobs  

Lol... just joking. But not really though...