Frizz23 (OP)
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June 14, 2013, 02:10:22 PM Last edit: June 16, 2013, 07:52:12 PM by Frizz23 |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrypt-Jane.
PS, yes I'm serious.
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Ξtherization⚡️First P2E 2016⚡️🏰💎🌈 etherization.org
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phantastisch
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June 14, 2013, 02:15:39 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
PS, yes I'm serious.
Only miners have voting power. You cannot change that.
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bitman442
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June 14, 2013, 02:30:51 PM |
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I think somebody owns stock in AMD lol.
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herzmeister
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June 14, 2013, 02:54:09 PM |
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This ASIC arms race has gotten out of hand.
I think that's the whole purpose.
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greyhawk
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June 14, 2013, 02:59:19 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
PS, yes I'm serious.
Only miners have voting power. You cannot change that. Doesn't sound very libertarian to me.
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Birdy
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June 14, 2013, 03:09:23 PM |
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Then people will do a new arms race with new devices for scrypt, the only thing it will do is piss off everyone who bought mining equip or mining shares (quite a lot of people) and thus hurting Bitcoin. -> clear No
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jaywaka2713
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aka 7Strykes
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June 14, 2013, 03:38:16 PM |
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ASICs shouldn't bother anyone. A rig with 4 7970 GPUs can only get barely 4 GH/s and costs over $3000. Now, for $649, you can get a rig that gives you 4.5 GH/s. ASICs are so much cheaper, with the tradeoff of having only one purpose. Also, imagine how mad CPU miners were when GPU miners came out. Must have been infuriating. Advancement of technology will always happen. ASICs just happen to be the next step past GPUs. There will be something to pass up ASICs in something like 10 years. Just watch.
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SeanArce
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June 14, 2013, 04:09:22 PM |
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Are gpu's still worth investing in if you get free electricity?
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shawshankinmate37927
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June 14, 2013, 04:14:13 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
Why not just create a new competing currency and let the free market choose?
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"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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jaywaka2713
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aka 7Strykes
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June 14, 2013, 04:27:02 PM |
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Are gpu's still worth investing in if you get free electricity?
Are ASICs worth investing in if you get free electricity? 2 7970s will cost you $950 for just under 2 Gh/s $650 can get you a 4.5 Gh/s rig.
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franky1
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June 14, 2013, 05:23:51 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
PS, yes I'm serious.
already done cough litecoin cough litecoin is for the noobs wanting the sandbox of crypto currency to dip their feet into, learn the ropes, get into business, make some money and then decide if they want to get into the big business of bitcoin, or develop the litecoin further. much like growing up in africa, starting with new economy. do you stay and develop a new economy. or get on a plane and move to the developed world. your free to decide also to add, thinking that mining is the only way to make money is very narrow minded and shows you have no clue what economy is. think about todays real bricks and mortar world. are your family getting an income from minting bank notes or being gold diggers.. no. the creation of the currency should be less then 1% of the total ways to make money. think about retail, domestic services, fast food, manufacturing.. bitcoin has opened up a new economy just like opening a fresh new country. mining is not the only job vacancy listing.. open your mind. find a niche and become a bitcoin millionaire. imagine it like this. looking at the fiat market and wishing you could go back 100 years and be right at the start of the "big boys" of business.. well here is your chance
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Joe_Bauers
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June 14, 2013, 05:33:07 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
Why not just create a new competing currency and let the free market choose? Someone already did - it's called YACoin.
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shawshankinmate37927
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June 14, 2013, 05:39:56 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
Why not just create a new competing currency and let the free market choose? Someone already did - it's called YACoin. There you go OP. Just convert all of your Bitcoins to YACoins and start mining them.
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"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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jaywaka2713
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aka 7Strykes
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June 14, 2013, 05:43:48 PM |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrpyt-Jane.
Why not just create a new competing currency and let the free market choose? Someone already did - it's called YACoin. There you go OP. Just convert all of your Bitcoins to YACoins and start mining them. https://vircurex.com/welcome/index?alt=yac&base=btc&locale=enhttps://www.cryptsy.com/markets/view/11
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Elwar
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Viva Ut Vivas
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June 14, 2013, 06:12:23 PM |
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Just be happy that there is no new technology beyond ASICs for a long time.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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jaywaka2713
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aka 7Strykes
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June 14, 2013, 06:13:06 PM |
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Just be happy that there is no new technology beyond ASICs for a long time.
Give it 5 to 10 years. 2nd Gen ASICs will probably come out in 2 to 3 years though.
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greyhawk
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June 14, 2013, 07:43:14 PM |
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Just be happy that there is no new technology beyond ASICs for a long time.
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rograz
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June 14, 2013, 09:59:46 PM |
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Give it 5 to 10 years. 2nd Gen ASICs will probably come out in 2 to 3 years though.
If KNC actually gets their 28nm asics out the door we are pretty much done with rapid asic progression, after that we will be at the mercy of node shrinks like the rest of the industry.
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jaywaka2713
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aka 7Strykes
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June 14, 2013, 10:02:01 PM |
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Just be happy that there is no new technology beyond ASICs for a long time.
Thats a quantum computer, not an ASIC. Quantum Computing actually isn't as efficient as ASICs are, and it is not a threat. Quantum Computing cannot compute SHA256 math at a fast pace. Give it 5 to 10 years. 2nd Gen ASICs will probably come out in 2 to 3 years though.
If KNC actually gets their 28nm asics out the door we are pretty much done with rapid asic progression, after that we will be at the mercy of node shrinks like the rest of the industry. What are node shrinks?
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atariguy
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June 14, 2013, 10:14:45 PM |
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ASICs shouldn't bother anyone. A rig with 4 7970 GPUs can only get barely 4 GH/s and costs over $3000. Now, for $649, you can get a rig that gives you 4.5 GH/s. ASICs are so much cheaper, with the tradeoff of having only one purpose. Also, imagine how mad CPU miners were when GPU miners came out. Must have been infuriating. Advancement of technology will always happen. ASICs just happen to be the next step past GPUs. There will be something to pass up ASICs in something like 10 years. Just watch.
Until I can order an ASIC on Amazon and have it delivered the next day and for less money than the same hashpower in a GPU, that is purely hypothetical.
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