Why create CPU mined coins?

[OneEyedJack]

I have read that these newly release CPU only coins, like quark and whatnot.
Why release these coins? Isn't that taking a step backwards in the speed of mining?

[warzonevi]

I believe it is to make it harder to mass mine coins, and to make mining obtaining by everyone rather than those with existing hardware (ASICS or GPU's).  Each to their own I guess?

[LightningBlade]

But the problem is people are developing GPU program for those CPU mined coins.. so sooner or later it will be GPU again...

[quone17]

But the problem is people are developing GPU program for those CPU mined coins.. so sooner or later it will be GPU again...

I think that the idea is to try to come up with a way so that GPU actually can't be used to mine the coins.  To try to make it so it's more evenly distributed.  I like the idea but it seems like some alts have tried that in the past and somehow the speculators always come up with a way to "cheat the system" and mine coins faster, since there's money in it for them if they do it.

[phife]

its true. In theory mining with CPUs leads to a better distribution by giving more people the chance to mine. And becasue cpu mining is much slower than gpu mining, less people can hoard vast amounts of it and shooting up difiiculty in no time, especially if its a new coin. In practice, unless you have a good cpu, mining is pretty unprofitable

[bitcoinmistress]

What are some of the promising CPU mined coins?

[bumpk1nK]

But how can you be sure CPU altcoin developers didnt create GPU miner only for themselves before releasing CPU only altcoin  ? Wouldnt surprise me at all

[LightningBlade]

What are some of the promising CPU mined coins?

Primecoin, but seems that it is mineable with GPU just not so efficient yet..

[tgph4life]

But how can you be sure CPU altcoin developers didnt create GPU miner only for themselves before releasing CPU only altcoin  ? Wouldnt surprise me at all

I'd be more concerned about large numbers of premined coins rather than someone creating a specific miner. Most of the altcoin clients are open source, so you can review the proof of work algorithm and make a decision as to whether or not you believe the developer created an alternate miner for themselves. In the end though, if something becomes as popular (and profitable to mine) as bitcoin even it was designed to be FPGA/ASIC/GPU resistant its still possible as most of the 'CPU only' coins strictly rely on using tons of memory per thread. Its possible to create a custom chip with tons of memory per 'core', the question is just is it worth it.

[bronxbob]

I have read that these newly release CPU only coins, like quark and whatnot.
Why release these coins? Isn't that taking a step backwards in the speed of mining?

Speed should not be what matters for coins when it comes down to it. Accessibility should matter more.

To be honest they do something that GPU mining can't do as well:

Put the power to mine coins in the hands of more people. More people holding and using a digital currency is a good thing.

Now that being said, I'm not a fan of most CPU mined coins with the exception of Primecoin, because its mining prime numbers which can be used by engineers, mathematicians, physicists, etc...

In fact the Primecoin network has already broken some prime number records, which is really cool.

The rest of the CPU based coins, I am very "eh" about. Doesn't mean I won't mine or trade with them in the future, I just don't "believe" in the future of them right now.

Then again I don't "believe" in the future of a lot of altcoins.

[st9999]

CPU-only coin is designed to prevent miners equipped with VGA to join. However, CPU coins are extremely risk: 51% attack and botnets.

[rickyjames]

I have wondered if there could be a CPU mined coin that ran as a background client on cellphones.  Even though their capability is limited compared to other computers, there ae so many of them!  Any estimates of what has rate could be achieved by a Verizon or ATT network running a bitcoin client?

[Cryptconnect]

I think mostly it is a way to attract people to mine their core.

Personally I don't see any diference.
Either you vuy a lot of GPU's, or a lot of CPU's... It doesn't really matter.

What would be usefull though is to create a coin that requires

1) No intensive power (Currently mining isn't very environmental friendly)
2) No specific hardware
3) Actually, stop creating additional coins... we already have plenty

[rickyjames]

What are some of the promising CPU mined coins?

Take a look at QRK:

http://forum.qrk.cc/

[mladen00]

Protoshares, Primecoins....

[ajax3592]

They are designed in that way so that it will take longer to mine them >>>high value fast >>> creator becomes billionaire soon

[e521]

current cpu coins are kinda useless, people will create gpu/asic miners if there is profit to be taken
cpu mined coins should relate to the possibility to "mine" a coin using any computer (a "node") but nobody can make money out of it so I am not sure who/why will support it

[SemiMolten]

I have read that these newly release CPU only coins, like quark and whatnot.
Why release these coins? Isn't that taking a step backwards in the speed of mining?

What you have in every computer is a CPU. Only those high ends/gaming computer have GPU. It is to allow more people to mine it, might increase the network security.

[nastybit]

I have read that these newly release CPU only coins, like quark and whatnot.
Why release these coins? Isn't that taking a step backwards in the speed of mining?

What you have in every computer is a CPU. Only those high ends/gaming computer have GPU. It is to allow more people to mine it, might increase the network security.

Allow these people to mine? profitable for a consumer cpu to mine against botnet? Right...