Scrypt Asics. Are you planning your exit strategy from GPU mining?

[hendo420]

So with the future release of Alpha Technologies Scrypt Asics, GPU mining is going to be going the way of the Dodo.

Who has an exit plan in place to liquidate their GPU miners and either invest in BTC or buy Scrypt Asics?

[phrozenspite]

There will be other things to GPU mine, for example, Memorycoin has had a GPU miner for the past few days and has been the most profitable thing to mine

[Nullu]

So with the future release of Alpha Technologies Scrypt Asics, GPU mining is going to be going the way of the Dodo.

Who has an exit plan in place to liquidate their GPU miners and either invest in BTC or buy Scrypt Asics?

I'll wait until the Scrypt Asic resistant coins then become mainstream.

It would be naive to think that the people who could afford Scrypt Asic miners would be in the majority. The community would move on to another coin, and Scrypt would be as common as SHA-256 coins are now.

Crypto is just one long game of cat and mouse. Only the cats profit, but the mice have larger numbers.

It takes much less time to create code that could defeat ASIC, than it is to create new ASIC miners. They'd be massively profitable at first, but then there would be diminishing returns as the rest of the miners move to a fairer playing field. It's happened with ASIC once already. Don't see it'd be any different this time.

[mux]

Agreed.

When sha256 asics came, most new altcoin became scrypt, and the most popular were scrypt.
So I see that when scrypt asics are here everywhere, most new altcoins will be XXX, and the most popular will be XXX.

Edit:
So I bought scrypt asics, but I'm not selling my GPUs.

[cryptomining]

scrypty asic = lol

 

[sighle]

You say that like there aren't already scrypt ASIC's running throughout the world or people with GPU farms pulling 100+ mh/s.

The release of this technology is inevitable but it's not like GPU mining will be pointless once they are.

[hendo420]

You say that like there aren't already scrypt ASIC's running throughout the world or people with GPU farms pulling 100+ mh/s.

The release of this technology is inevitable but it's not like GPU mining will be pointless once they are.

How many people mine Bitcoin with GPUs currently?

They are putting out an asic miner that is cheaper than building a GPU rig. 5mh/s for $2,000 vs 2x 2.5mh/s rigs for $3,000
Also they claim the 5mh/s scrypt asic only consumes 100w vs 5mh/s GPU miner consuming 1200-1300w.

We have been down this road with bitcoin asics. History is repeating itself except there isn't a big GPU only coin to fall back to when all the scrypt coins are not profitable to mine with GPUs anymore.

[roozifus]

We have been down this road with bitcoin asics. History is repeating itself except there isn't a big GPU only coin to fall back to when all the scrypt coins are not profitable to mine with GPUs anymore.

But because there isn't a big GPU only coin to fall back on maybe people will start creating new ones. It didn't happen with SHA asics because there was no need, scrypt already existed. But as you said, there is no other GPU coin currently so one will need to be created.

[phrozenspite]

We have been down this road with bitcoin asics. History is repeating itself except there isn't a big GPU only coin to fall back to when all the scrypt coins are not profitable to mine with GPUs anymore.

But because there isn't a big GPU only coin to fall back on maybe people will start creating new ones. It didn't happen with SHA asics because there was no need, scrypt already existed. But as you said, there is no other GPU coin currently so one will need to be created.

everyone must have missed my post.  Memorycoin which was designed to be gpu resistant failed at it, GPUs are currently more profitable on that than any scrypt coin. 

[hendo420]

We have been down this road with bitcoin asics. History is repeating itself except there isn't a big GPU only coin to fall back to when all the scrypt coins are not profitable to mine with GPUs anymore.

But because there isn't a big GPU only coin to fall back on maybe people will start creating new ones. It didn't happen with SHA asics because there was no need, scrypt already existed. But as you said, there is no other GPU coin currently so one will need to be created.

everyone must have missed my post.  Memorycoin which was designed to be gpu resistant failed at it, GPUs are currently more profitable on that than any scrypt coin. 

I'm mining it now, I had no idea it was so profitable. I don't see that lasting very long as word gets out. lol

[Snail2]

My exit strategy is buying in. As soon as scrypt ASICs will be released I'm going to buy some panicsold video cards and I'll build some really awesome gaming PCs .

[Fraxinus]

Isn't scrypt-jane immune against the asics?

[cerberre]

Actually I am not sure Alpha Technologies is a scam. Or if it is the case they are stupid because they are using their real names.

Muhammed Jafar Akram is on Facebook and Linked in and given his number of connections I do not think he is a fake person.