YAC duplicates in value after Elacoin fail

[ymer]

Watch it bros.

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[TheSwede75]

Yeah, sure. YAK being as big of a fail but with more idiot supporters. Sure, it will be worth something one day 

[nfuse]

yeah about 0.00000001 bitcoin good luck with Elaflushcoin!

[andruby]

Yes YAC will totally dupelicate in value..

[phorensic]

I love it when my virtual currencies duplicate in value.

[megablue]

what talk you? 

[bitdwarf]

Well, with all the new alts dying these last days and the red everywhere, even in LTC, anyone wanting some excitement is running out of places to put some BTC in.

[spoid]

well the most possible future news for YACoin would be "Yacoin now minable via GPU", which would crash the price I guess.

[bitbitcoincoin]

well the most possible future news for YACoin would be "Yacoin now minable via GPU", which would crash the price I guess.

Why it would crash the price? Are you aware block reward is already just 17 YAC? Even if people add so much hashpower to speedup block generation to just few seconds as it
was at the launch, they would be making much less YAC overally than early adopters were making. Since price for 1000 YAC was mostly around 15 LTC and still is, I don't see how
those mining with GPU could destroy it. Those who would start mining on GPU early would increase difficulty and that would make those mining on CPU drop out from mining cause
it would not be profitable anymore to mine with CPU. The same deal as with Bitcoin, where ASIC is slowly replacing GPU. Do you see BTC price crashing because of it? I don't. So
why would GPU crash YAC price when it is not happening with BTC, which uses fixed block reward vs decreasing block reward YAC is using?

YAC's only selling point is it's CPU only, if a GPU cracks it then it's name becomes apt.  It'll be yet another coin, with no unique qualities and slowly dies like FTC, CNC, and many many others.

BTC on the otherhand was not competing with 20+ different coins when it switched from CPU to GPU, and it already has a very well established user base outside the mining community when switching from GPU to ASIC.  It's a completely different scenario.

[trace666]

It'll be yet another coin,

Now that part is true 

[whitedragon]

well the most possible future news for YACoin would be "Yacoin now minable via GPU", which would crash the price I guess.

Why it would crash the price? Are you aware block reward is already just 17 YAC? Even if people add so much hashpower to speedup block generation to just few seconds as it
was at the launch, they would be making much less YAC overally than early adopters were making. Since price for 1000 YAC was mostly around 15 LTC and still is, I don't see how
those mining with GPU could destroy it. Those who would start mining on GPU early would increase difficulty and that would make those mining on CPU drop out from mining cause
it would not be profitable anymore to mine with CPU. The same deal as with Bitcoin, where ASIC is slowly replacing GPU. Do you see BTC price crashing because of it? I don't. So
why would GPU crash YAC price when it is not happening with BTC, which uses fixed block reward vs decreasing block reward YAC is using?

YAC's only selling point is it's CPU only, if a GPU cracks it then it's name becomes apt.  It'll be yet another coin, with no unique qualities and slowly dies like FTC, CNC, and many many others.

BTC on the otherhand was not competing with 20+ different coins when it switched from CPU to GPU, and it already has a very well established user base outside the mining community when switching from GPU to ASIC.  It's a completely different scenario.

I don't claim to understand everything going on under the hood of cryptocoins....but why is "CPU-only mining" considered a selling point?  The yacoin website says:

"GPU and ASIC resistance provides short-term incentive for adoption, disseminates the currency to a wide body of users and protects the network in the long-term. It enables all peers to participate equally in the network, regardless of their financial backing. This helps protect YaCoin from abandonment when large-scale players, with institutional investment come in with expensive hardware, such as ASICs and GPU farms."

This claim is completely bogus.  Has nobody heard of CPU farms?  I bet CPU farms have been around longer than GPU farms.  I had a mini CPU farm set up at home with 4 machines to render 3d graphics ten years ago....so I'm PRETTY sure there must be some "large-scale players, with institutional investment" out there with a boatload of CPU power...not to mention the Amazon rentals that others have posted on the forums.  So it seems to me you can easily get massive hashrates...if you have the $$.

[Tomatocage]

"Uh! Duplicate, Uh! Uh!" -- Sir Mixalot

[WindMaster]

"GPU and ASIC resistance provides short-term incentive for adoption, disseminates the currency to a wide body of users and protects the network in the long-term. It enables all peers to participate equally in the network, regardless of their financial backing. This helps protect YaCoin from abandonment when large-scale players, with institutional investment come in with expensive hardware, such as ASICs and GPU farms."

This claim is completely bogus.  Has nobody heard of CPU farms?  I bet CPU farms have been around longer than GPU farms.  I had a mini CPU farm set up at home with 4 machines to render 3d graphics ten years ago....so I'm PRETTY sure there must be some "large-scale players, with institutional investment" out there with a boatload of CPU power...not to mention the Amazon rentals that others have posted on the forums.  So it seems to me you can easily get massive hashrates...if you have the $$.

[whitedragon]

Thank you Windmaster, that says it all!