Bitcoin Forum
December 14, 2017, 12:53:18 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: The ASIC problem  (Read 405 times)
thesavoyard
Sr. Member
****
Online Online

Activity: 308



View Profile
July 08, 2017, 07:34:10 AM
 #1

 So after being burned trying to get a Dash miner, a UPS employee stole it. (I'm now suing UPS for the costs) And the monopoly of Baikal and Pinidea on Dash script, I'd say my opinion has turned anti-ASIC. I will not use a coin that is ASIC mined. It is against the fundamental principles of decentralization.

 You have one crap company that controls all new BTC, Antminer. They charge what they want and they sell to whom they want. Two companies control Dash, though Pinidea is losing fast. Not a lot of variety in Litecoin miners as well. BTC was released to be CPU mined. GPU mining didn't centralize it but ASIC mining did. These ASIC mining coins will eventually be too centralized to use.

 How can we solve this? Should we boycott these coins until they add ASIC resistance to their algos? Too late for BTC, but it's been too late for BTC for a while. Could we force other core teams to update their code?

1513212798
Hero Member
*
Offline Offline

Posts: 1513212798

View Profile Personal Message (Offline)

Ignore
1513212798
Reply with quote  #2

1513212798
Report to moderator
1513212798
Hero Member
*
Offline Offline

Posts: 1513212798

View Profile Personal Message (Offline)

Ignore
1513212798
Reply with quote  #2

1513212798
Report to moderator
1513212798
Hero Member
*
Offline Offline

Posts: 1513212798

View Profile Personal Message (Offline)

Ignore
1513212798
Reply with quote  #2

1513212798
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513212798
Hero Member
*
Offline Offline

Posts: 1513212798

View Profile Personal Message (Offline)

Ignore
1513212798
Reply with quote  #2

1513212798
Report to moderator
1513212798
Hero Member
*
Offline Offline

Posts: 1513212798

View Profile Personal Message (Offline)

Ignore
1513212798
Reply with quote  #2

1513212798
Report to moderator
1513212798
Hero Member
*
Offline Offline

Posts: 1513212798

View Profile Personal Message (Offline)

Ignore
1513212798
Reply with quote  #2

1513212798
Report to moderator
StealthCoin1
Sr. Member
****
Offline Offline

Activity: 439



View Profile
July 08, 2017, 09:31:27 AM
 #2

Yes ASIC is bad for crypto
toto24pos
Newbie
*
Offline Offline

Activity: 2


View Profile
July 08, 2017, 10:12:47 AM
 #3

People should ICO plenty of ASIC companies. Competition will drive processor price down and thus decentralize production. I believe it was the original plan.
Or consider POW has limitations. It was good to initiate the move, but then go for POS. Sometimes I wonder if this was not the true original plan. Or if is was not, it may also become.
que91
Full Member
***
Offline Offline

Activity: 224


MINERVA: World's First Reverse Merchant Processor


View Profile
July 08, 2017, 10:43:35 AM
 #4

So after being burned trying to get a Dash miner, a UPS employee stole it. (I'm now suing UPS for the costs) And the monopoly of Baikal and Pinidea on Dash script, I'd say my opinion has turned anti-ASIC. I will not use a coin that is ASIC mined. It is against the fundamental principles of decentralization.

 You have one crap company that controls all new BTC, Antminer. They charge what they want and they sell to whom they want. Two companies control Dash, though Pinidea is losing fast. Not a lot of variety in Litecoin miners as well. BTC was released to be CPU mined. GPU mining didn't centralize it but ASIC mining did. These ASIC mining coins will eventually be too centralized to use.

 How can we solve this? Should we boycott these coins until they add ASIC resistance to their algos? Too late for BTC, but it's been too late for BTC for a while. Could we force other core teams to update their code?
I understand your mean, but you need know Asic very easy control a large number of device than GPU hardware! Not need more time to care and inspection

Example: You have 1 Million Dollar can invest to buying a large number of hardware mining, with Asic you just buying and find a place to running 24/24 not need care error about Mainboard and Fan, only need you can uninterruptible power supply to operate, better than GPU!

thesavoyard
Sr. Member
****
Online Online

Activity: 308



View Profile
July 08, 2017, 12:35:49 PM
 #5

People should ICO plenty of ASIC companies. Competition will drive processor price down and thus decentralize production. I believe it was the original plan.
Or consider POW has limitations. It was good to initiate the move, but then go for POS. Sometimes I wonder if this was not the true original plan. Or if is was not, it may also become.

We still have the problem of one company crushing the competition. Antminer wasn't the only Bitcoin miner until this year when the s9 drove everyone else out. Pinidea is falling behind Baikal and will likely have to quit in a few years. People who mine coins aren't like Apple fans, willing to buy an inferior product that's basically a polished turd  Wink

@que91 Yes ASIC are easy to scale, that's one of the problems. They drive out hobbyists. Massive data farms will push small timers out.

bathrobehero
Legendary
*
Offline Offline

Activity: 1372


ICO? Not even once.


View Profile
July 08, 2017, 01:13:58 PM
 #6

People should ICO plenty of ASIC companies. Competition will drive processor price down and thus decentralize production. I believe it was the original plan.
Or consider POW has limitations. It was good to initiate the move, but then go for POS. Sometimes I wonder if this was not the true original plan. Or if is was not, it may also become.

That's a good way to get a lot of people scammed.

ASIC R&D should better be left to people who actually know what they are doing.

RIP Bittrex
Ayers
Legendary
*
Offline Offline

Activity: 1218

★Bitvest.io★ Play Plinko or Invest!


View Profile
July 08, 2017, 02:24:04 PM
 #7

yeah asic being bad for the market isn't a new thing, they centralize mining, and by doing this you have 2-3 guys contorlling the mrket with plenty of coin, which mean easy dumping, if the coin were in more hands the dumping would be less and the value stronger, i'm afraid sia will die with the new asic that can mine blake2b algo
thesavoyard
Sr. Member
****
Online Online

Activity: 308



View Profile
July 08, 2017, 05:42:11 PM
 #8

yeah asic being bad for the market isn't a new thing, they centralize mining, and by doing this you have 2-3 guys contorlling the mrket with plenty of coin, which mean easy dumping, if the coin were in more hands the dumping would be less and the value stronger, i'm afraid sia will die with the new asic that can mine blake2b algo

 I can't wait until fiat exchanges eliminate the need for BTC. We could completely cut out ASIC mined coins.

TheRedDevil
Full Member
***
Offline Offline

Activity: 122

Blocklancer - Freelance on the Blockchain Close


View Profile WWW
July 08, 2017, 06:36:03 PM
 #9

The crypto community is slowly shifting its focus into tokens and it may not be that far away when we don't got for mining at all. Everything be pre-mined/predefined from the beginning.

aakashsangwan
Hero Member
*****
Offline Offline

Activity: 812


Keep Calm And Hoard ฿itcoins


View Profile WWW
July 08, 2017, 06:52:38 PM
 #10

The crypto community is slowly shifting its focus into tokens and it may not be that far away when we don't got for mining at all. Everything be pre-mined/predefined from the beginning.
And it's also a good way to scam others,....... Launch a premined crypto, give some tokens for free and do some marketing of the coin and when it launch on exchanges, dump it.
Its been the practice for quiet a time, so I guess mining is actually good for crypto as the coin generation will be steady and predictable and so do the price.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!