600MH/s SCRYPT guy on the Middlecoin

[andrebrito88]

Hello,

Once i'm still noob i cant write on the topic from Middlecoin.

As the title says there a guy minning 600MH on Middlecoin pool, this in SCRYPT -_-'

Did someone think this can be from https://coingeneration.com/ ? This guys as i know are using the cpu power (i'm not sure about the gpu's) of the costumers to mine bitcoin and maybe scrypt coins, so it cant be from there?

As i know too they are not the only ones, there are another programs like that, im not sure about how much costumers are there, but in portugal there is aprox 50 to 60k of people using this website, this just on portugal so worldwide they are much more i think.

What do you guys think about this?

Asics for scrypt are there? Or it is from this kind of programs?

[andrebrito88]

Someone?

This topic can be important for those who are buying GPU's like me (means that is better to stop and wait a bit and see what happen), because there is the danger of the asics.

[sneeze]

He mines with GPUs. I'm not sure i understand your question but i think i answered it.

[phzi]

This has been discussed in the middlecoin thread. It is a new ASIC chip, low yield but high power efficiency. It is obviously NOT a botnet for various reasons, most importantly the consistent non-fluctuating hashrate.

The owner posted a few messages in the middlecoin thread if you take the time to search/read.

More info here:
http://Http://gridseed.com
http://Https://github.com/gridseed/gc3355-doc
https://bitcointalk.org/index.php?topic=355268.0

[andrebrito88]

Thank you for the replys,

So this means that minning scrypt based coins with gpu gonna be useless soon, gonna happen with scrypt coins the same that happen with the bitcoin right?

Soon all the big guys gonna buy this things and ruin all the scrypt minning based on GPU.

If this is the case i'm gonna stop buying GPU's and start selling all that i have.

I'm right?

[anyone4u]

I have heard the same thing for a while but so far no one has delivered a working aic machine for script. There are reasons other altcoins were made (instead of main bitcoin) because people were abusing it and difficulty became too high and not basically bitcoin requires asics unless you have years to wait for a bitcoin. That is unless you are a terrible rotten scammer like the scammers that served up 2million botnet pcs on yahoo recently to mine bitcoin using basically stollen power from people that went to yahoo and were on the european servers. Scammers and greedy people try to ruin it for everyone, hopefully they will all get scammed and loose their ass like they like others to do.

[ycsi]

The situation with ASIC scrypt mining is different from SHA256.

The key here is that cost per kHash (or MHash) is almost the same for GPU and ASIC so, the real savings are in operating cost, since ASIC miners have significantly lower power requirements.

Since initial investment is comparable, I don't expect significant sudden increase in hash power once ASIC Scrypt miners become reality. At least the initial impact will be much softer, compared to SHA256 ASICs.

[anyone4u]

it depends on the cards you choose to gpu/cpu mine with and the price you paid for them and the power supply efficiency rating and cost per entry. If you buy the lowest return per price wise gpu card and it is not energy efficient and also get the lowest efficiency power supply unit, of course it may be less profitable than asisc. Also asics has a higher price range to purchase, where you could piece together your miner using quality parts gpu wise and power supply wise/computer wise if you desire and come out ahead.

[andrebrito88]

I hope thats the true,

Will see what happen, by the way i know one thing, the asics are for minning, and the gpu's can mine and make much more things, so the real value its better, i can sell all the gpu's on the ebay and got the ROI instantly

And if it happen, there is much more algo's , for example the quark, we can mine it with the cpu but i think there is already gpu miners for quark, from my calculations minning with gpu on quark its profitable but in this moment its 50% less profitable than some scrypt coins.

There is another option, the MEDcoin is using something like this, you can use the asics, but you need the equivalent power hashing from the cpu or at least a ratio of cpu power that i'm not sure if you dont have it asic will be limited, this is a great ideia to use on the computer for minning without big walles to increase the diff, but i think that the best of the best is create a algo that will be sync the power of the GPU with CPU, Ram, Chipset, and maybe the your CAT or DOG LOL...but for this you will need a big CAT or DOG so its not affordable.

[nerobie]

im not sure about how much costumers are there, but in india there is aprox 100 to 120k of people using this website