[ANN] profit switching auto-exchanging pool - www.middlecoin.com

[jedimstr]

One thing that hasn't been taken into account for all these ASIC arguments.

Bitcoin Devs did not actively shun FPGA and later ASICs... they stayed the course with SHA256 and encouraged their development.

Litecoin (and other Scrypt) Devs have as part of their list of features ASIC resistance for the Scrypt Algorithm.  There have already been discussions on switching to something else like Scrypt-Jane or another more esoteric algo when ASIC's come knocking on GPU's power/hashrate threshold. They will do a hardfork if necessary to keep Mining a community activity.

That's the core difference between what happened before with Bitcoin and what's happening today in the Altcoin scene.

[Damnsammit]

LoL

So basically, in your opinion, ASICS will continue to grow at an exponentially powerful rate until they destroy GPUs this year....and everyone who disagrees with your 'yet to be invented' phantom ASIC chip is being short-sighted.

Do you know what Bitcoin is?  Were you alive last year?  

How can you act as if that is not the extremely recent history of SHA256?

I doubted that there would even be a Scrypt ASIC until 2015, but if this thing is real, then it's not good news for GPU miners.  

[The Fat Miner]

The 1000 mhash person was a botnet. Microsoft just patched it out the same time the 1000 mhash miner disappeared.

Source: http://www.coindesk.com/microsoft-destroys-bitcoin-mining-botnet-sefnit/

"Microsoft has gone on the offensive against the ‘Sefnit’ botnet and it has remotely removed an older version of the Tor Browser from an estimated two million computers.

Sefnit is a curious form of Tor-based malware that managed to infect millions of computers and turn them into zombies for click fraud and bitcoin mining"


H2O said he knew this person and confirmed it was NOT a botnet. Another lie found out from H2O!

To be honest I thought it was a Botnet right away, Who on earth could afford to plow so much money into hashing power so fast, Trouble is , I'm now worried their tactics have changed and it's hidden in plain sight , I've lost a ton of hashing power since yesterday, And for the life of me can't see where it's gone.

[kalnas]

One thing that hasn't been taken into account for all these ASIC arguments.

Bitcoin Devs did not actively shun FPGA and later ASICs... they stayed the course with SHA256 and encouraged their development.

Litecoin (and other Scrypt) Devs have as part of their list of features ASIC resistance for the Scrypt Algorithm.  There have already been discussions on switching to something else like Scrypt-Jane or another more esoteric algo when ASIC's come knocking on GPU's power/hashrate threshold. They will do a hardfork if necessary to keep Mining a community activity.

That's the core difference between what happened before with Bitcoin and what's happening today in the Altcoin scene.

switching litecoin to scrypt-jane would be awesome I thing this would kill any feature development of asics.

[Damnsammit]

Litecoin (and other Scrypt) Devs have as part of their list of features ASIC resistance for the Scrypt Algorithm.  There have already been discussions on switching to something else like Scrypt-Jane or another more esoteric algo when ASIC's come knocking on GPU's power/hashrate threshold. They will do a hardfork if necessary to keep Mining a community activity.

Good point, and I hope you are right.

I'm going to be very shocked if this ASIC is real and hope to hell it isn't.  Figured it would be a bit longer before we saw Scrypt ASICs.

[jedimstr]

Litecoin (and other Scrypt) Devs have as part of their list of features ASIC resistance for the Scrypt Algorithm.  There have already been discussions on switching to something else like Scrypt-Jane or another more esoteric algo when ASIC's come knocking on GPU's power/hashrate threshold. They will do a hardfork if necessary to keep Mining a community activity.

Good point, and I hope you are right.

I'm going to be very shocked if this ASIC is real and hope to hell it isn't.  Figured it would be a bit longer before we saw Scrypt ASICs.

I'm actually surprised we didn't see it earlier... or even a customized board from AMD or nVidia dedicated to mining scrypt that gets rid of all the extra hardware we don't need for this specialized work...

Regardless, since ASIC resistance is such a core feature of most of the coins we're mining on Middlecoin, I'm not worried.  If ASICs are made effective, the coin devs will make tweaks (small or large) that will make them useless.

[jedimstr]

The 1000 mhash person was a botnet. Microsoft just patched it out the same time the 1000 mhash miner disappeared.

Source: http://www.coindesk.com/microsoft-destroys-bitcoin-mining-botnet-sefnit/

"Microsoft has gone on the offensive against the ‘Sefnit’ botnet and it has remotely removed an older version of the Tor Browser from an estimated two million computers.

Sefnit is a curious form of Tor-based malware that managed to infect millions of computers and turn them into zombies for click fraud and bitcoin mining"


H2O said he knew this person and confirmed it was NOT a botnet. Another lie found out from H2O!

To be honest I thought it was a Botnet right away, Who on earth could afford to plow so much money into hashing power so fast, Trouble is , I'm now worried their tactics have changed and it's hidden in plain sight , I've lost a ton of hashing power since yesterday, And for the life of me can't see where it's gone.

I have a feeling your hashrate issues are still tied to your power outtage.  You probably burnt out your boards' VRMs or blew a few capacitors that reduced how long they could run at full tilt.  The power outtage didn't kill your rigs outright, but it did handicap your boards for endurance.

I definitely wouldn't blame the spooky high hashrate boogeyman botnet in the closet
That's why a windows install didn't help all that much and why noone else is seeing the same hashrate drop you are.

[petabytecoin]

if you don't see that you still get a significantly higher hash rate with GPU for the price of the ASIC Scrypt I don't know what to say.
Power usage savings of even 1k watts, is minimal considering the much higher hash output.

Do the math please, then really let it sink in.

I appreciate your condescension.  Let me reciprocate it.

The cost of the 3MH/s model is 11190 Chinese Yuan, or $1849.19 according to the supplier’s website.
That is currently $0.61/kH

Let’s just say you can get 280X’s left and right for $300 because you are a fucking wicked smooth barterer.  You also get 800kH/s on each card because you are a configuration specialist.  So just for the cards, you are paying $0.375/kH.  Let’s not even factor in electricity or other components you need for your rig as we all have closets full of spare computer parts to build endless rigs.  You are getting a 40% discount on hashing power with GPUs compared to an ASIC.

Thankfully, you don’t have to worry about ASICs becoming more powerful and more affordable.  That never happened with Bitcoin right?  That’s why after ASICs came out last year, they were continually outperformed by GPUs.  Oh what’s that?  That shit didn’t happen?  No fucking shit dumbass.

If there is a chip that is producing 300kH/s right now, then there will be a Scrypt ASIC chip this year that will make GPU mining ineffective for Scrypt just as last year it became ineffective for SHA256.

You can have this lesson for free.  Next time you think your math is great, you should think a little more progressively and stop being short-sighted.

For anyone who actually has to pay for electricity, as ASICs get more advanced with each iteration it is inevitable that they will push GPUs out. I don't know if there will be a mass migration to something other than SHA256 or Scrypt or if it's the end of the road for GPUs. Even if there is such a mass migration, it might be unworkable for GPUs and must be run on CPUs, or ironically it might work better on Nvidia GPUs.

It's possible that least some of the first gen scrypt ASICs are going to be mined by the producers rather than sold on the open market. Just something to keep in mind.

[dgross0818]

The 1000 mhash person was a botnet. Microsoft just patched it out the same time the 1000 mhash miner disappeared.

Source: http://www.coindesk.com/microsoft-destroys-bitcoin-mining-botnet-sefnit/

"Microsoft has gone on the offensive against the ‘Sefnit’ botnet and it has remotely removed an older version of the Tor Browser from an estimated two million computers.

Sefnit is a curious form of Tor-based malware that managed to infect millions of computers and turn them into zombies for click fraud and bitcoin mining"


H2O said he knew this person and confirmed it was NOT a botnet. Another lie found out from H2O!

To be honest I thought it was a Botnet right away, Who on earth could afford to plow so much money into hashing power so fast, Trouble is , I'm now worried their tactics have changed and it's hidden in plain sight , I've lost a ton of hashing power since yesterday, And for the life of me can't see where it's gone.

I have a feeling your hashrate issues are still tied to your power outtage.  You probably burnt out your boards' VRMs or blew a few capacitors that reduced how long they could run at full tilt.  The power outtage didn't kill your rigs outright, but it did handicap your boards for endurance.

I definitely wouldn't blame the spooky high hashrate boogeyman botnet in the closet
That's why a windows install didn't help all that much and why noone else is seeing the same hashrate drop you are.

Agreed, if you are still having issues then I would jump pools for a few hours and see if you notice the same there (then it's you) or you're back to normal (probably a connection issue to Middlecoin). If this was a widespread thing I can guarantee the people who have 20+ MH farms would be up in arms over where their hashing power was going.

[arbuzzinho]

if you don't see that you still get a significantly higher hash rate with GPU for the price of the ASIC Scrypt I don't know what to say.
Power usage savings of even 1k watts, is minimal considering the much higher hash output.

Do the math please, then really let it sink in.

I appreciate your condescension.  Let me reciprocate it.

The cost of the 3MH/s model is 11190 Chinese Yuan, or $1849.19 according to the supplier’s website.
That is currently $0.61/kH

Let’s just say you can get 280X’s left and right for $300 because you are a fucking wicked smooth barterer.  You also get 800kH/s on each card because you are a configuration specialist.  So just for the cards, you are paying $0.375/kH.  Let’s not even factor in electricity or other components you need for your rig as we all have closets full of spare computer parts to build endless rigs.  You are getting a 40% discount on hashing power with GPUs compared to an ASIC.

Thankfully, you don’t have to worry about ASICs becoming more powerful and more affordable.  That never happened with Bitcoin right?  That’s why after ASICs came out last year, they were continually outperformed by GPUs.  Oh what’s that?  That shit didn’t happen?  No fucking shit dumbass.

If there is a chip that is producing 300kH/s right now, then there will be a Scrypt ASIC chip this year that will make GPU mining ineffective for Scrypt just as last year it became ineffective for SHA256.

You can have this lesson for free.  Next time you think your math is great, you should think a little more progressively and stop being short-sighted.

1. there's no scrypt chip producing 300kH/s
2. how much ram does sha256 mining need - almost 0
3. how much ram does scrypt mining need - shitload
4. is fast ram cheap? n0pe
5. can asic scrypt miners be as good as asic sha256 miners? (thousands time faster?) - N0PE , unless you can get 1000GB (ultra fast ddr5) cheap ram
6. can u stop telling bullshits? i guss so

[Damnsammit]

1. there's no scrypt chip producing 300kH/s

I hope you are right.

The other numbers don't even need to be addressed since it is clear you are not interested in exploring hypothetical situations which is the preface of the entire message of mine that you quoted.

[Biggen]

Regardless, since ASIC resistance is such a core feature of alemost of the coins we're mining on Middlecoin, I'm not worried.  If ASICs are made effective, the coin devs will make tweaks (small or large) that will make them useless.

I hope to hell this statement never comes true. If you want crypto currency to ever be considered mainstream then it needs stability in the public eye.  If the devs can just change the way a coin is mined on a whim then what other things can they change for themselves??

No. ASICs will come and the coin devs that are smart will embrace them and not change a damn thing.

[ButterBread]

H2o please hire someone that knows DB programming.  The web page stats freezing multiple times a week is unacceptable when the pool owner is knocking down $4K+ day.

No, you don't understand.. This is where the magic happens

[ButterBread]

If you want crypto currency to ever be considered mainstream then it needs stability in the public eye.  If the devs can just change the way a coin is mined on a whim then what other things can they change for themselves??

As I understand it, anyone can fork to do their own flavour of evil but as long as it doesn't get picked up by the majority of miners no harm is done.

So I guess a successful fork will have community consensus and I don't see that happening if they start to 'change things for themselves'.

[grendel25]

All this decent discussion on ASIC vs GPU and no one mentions the DDR6 due this year with supposed  scrypt hashes upwards of 2 mh/s?   Dafuq?

[sgsdebruijn]

This is a middlecoin topic   Fuck off asics

[zneww]

middlecoin forum is such a drama pit.

[CaptainBeck]

middlecoin forum is such a drama pit.

middlecoin??? What we dont really talk about middlecoin here, we mostly troll and shit like that!!

[CaptainBeck]

Are the stats all updating fine ?

Had 1 rig down earlier today. Its been back up for over 3 hours on Middlecoin, but chart doesn't show the extra 2.3Mhash.

http://www.middlecoin.com/reports/1DzYCyX97H8sDRq5aHSXpDdJjNAertxbc4.html

CGWatcher confirms >3 hours on this pool

No your chart is not updated.

Was last updated at 16:56 UTC So several hours ago.

[andycee]

Are the stats all updating fine ?

Had 1 rig down earlier today. Its been back up for over 3 hours on Middlecoin, but chart doesn't show the extra 2.3Mhash.

http://www.middlecoin.com/reports/1DzYCyX97H8sDRq5aHSXpDdJjNAertxbc4.html

CGWatcher confirms >3 hours on this pool

No your chart is not updated.

Was last updated at 16:56 UTC So several hours ago.

Sorry, yes, just noticed that. Main stats page is up to date but looks likes some users stats are not!