With ASICs on the horizon should DigiByte switch algorithms?

[STT]

x11 uses the following for  hashing, blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd and echo.

So forget the miners for a second, how do these new algo help the consumer and user of coins.   Does it improve the product for them, raise utility in some way, increase speeds.

If hash rates rise with x11 is that somehow analogous to the asic advance without losing gpu miners.    What you dont want is to take a Luddite perspective, which is to smash the tractors because they make potato pickers redundant

[stealth923]

If you want the best - go X11 - DarkCoin

Power usage is down almost 50%, less heat, very stable algo and asic resistant.

[bigc1984]

I read about a coin these days with multiple algorithms - each with its own difficulty and block times - but with the same coins per timeframe at the end.
This sounds very promising to me as everyone can mine the algo he/she deserves without harming gpu, cpu or asic users. They all have the same chance to find a block.

However, I can't remember the name of that coin 

it's the myriadcoin

[bigc1984]

If you want the best - go X11 - DarkCoin

Power usage is down almost 50%, less heat, very stable algo and asic resistant.

X11!!! +100000

[Amph]

If you want the best - go X11 - DarkCoin

Power usage is down almost 50%, less heat, very stable algo and asic resistant.

heavycoin algo is even cooler

[Coindgr]

With all the recent Scrypt ASIC news we are strongly considering switching DigiByte to a more ASIC resistant algorithm to ensure a more fair mining opportunity for everyone. Our goal since day one is to make sure there is not centralization of hashing power or technology with DigiByte.

Please explain the reason for your vote and if you voted yes please list and provide a link to the algorithm you support.

Also, if anyone has any case studies of a coin hard forking and switching algorithms please post a link.

Scrypt ASIC will keep the coins in the hands of few.

I vote to change to X11 algo, it consumes less power, and keep your GPU cooler.

[digitalindustry]

http://kolinevans.wordpress.com/2014/03/02/why-there-could-be-a-mini-revolution-occuring-in-crypto-currency/

welcome home. : )

[DigiByte]

http://kolinevans.wordpress.com/2014/03/02/why-there-could-be-a-mini-revolution-occuring-in-crypto-currency/

welcome home. : )

Interesting article, thank you for posting.

[digitalindustry]

http://kolinevans.wordpress.com/2014/03/02/why-there-could-be-a-mini-revolution-occuring-in-crypto-currency/

welcome home. : )

Interesting article, thank you for posting.

no probs.

[DigiByte]

We are now spending considerable time & energy researching other algorithms and how we could go about making a switch. To our knowledge no other coin has yet to fork and switch algorithms after it has been launched. As such there is a whole new set of problems that need to be addressed.

We think it is definitely possible, but considerable preparation will have to take place ahead of time.

The biggest problem we foresee is what would happen at the exact block of the switch. One look at the Vertcoin thread shows they only have two mining pools. DigiByte would probably lose most of our mining pools right away if we went with Scrypt-N. There are also several other potential issues we see causing problems. Never the less, it is something we would like to play around with and test out to see what our options are.

[Coindgr]

With all the recent Scrypt ASIC news we are strongly considering switching DigiByte to a more ASIC resistant algorithm to ensure a more fair mining opportunity for everyone. Our goal since day one is to make sure there is not centralization of hashing power or technology with DigiByte.

Please explain the reason for your vote and if you voted yes please list and provide a link to the algorithm you support.

Also, if anyone has any case studies of a coin hard forking and switching algorithms please post a link.

Scrypt ASIC will keep the coins in the hands of few.

I vote to change to X11 algo, it consumes less power, and keep your GPU cooler.

Tried the Heavycoin algo, and this also is very good in power consumption. You guys shouldn't forget that quark algo also consumes less power, but I think it opens a door to botnets.

[niceday]

Have a look to the heavycoin algorithm with the the gpu miner from 1gh pool!! This is the best algo ever!!! I am not the expert but i think it is a modified cgminer.

Cards running very very cold with higher MH/sec, nearly soundless, halfed energy. Much better as x11.

I will mine only this algo during the summer.

Try it!!! --> http://hvc.1gh.com/

[DubFX]

I'm kinda undecided...well if ASICs owners would turn against network they could kind of easily attack it.

[DigiByte]

I'm kinda undecided...well if ASICs owners would turn against network they could kind of easily attack it.

We are thinking there might be another option. An option where we keep Scrypt and at a certain block we add in another algo that is weighted heavier than Scrypt. This way all our existing pools/miners can still mine DigiByte. But they will be incentivized to start mining on the new algorithm that is weighted heavier & rewarded with more new coins. This would hopefully lead to a nice smooth transfer over to a new algo. Then at a later date we could release another update that removes Scrypt from the client. Or we may just keep it and reep some of the benefits of allowing ASIC miners to mine DigiByte, but at a disadvantage to GPU miners.

We feel it is important to keep GPU miners in the game. People feel a lot more comfortable getting into crypto mining when all they have to do is purchase or using an existing graphics card. Graphics cards can always be resold or used for gaming/work desktop environments. ASIC's are good for only one thing and if Bitcoin is any indicator they will lose their value very quickly as newer more efficient models come along.

[Warning__3]

i like Scrypt-n but i rather see digibyte using x11

[BitcoinTate]

i like Scrypt-n but i rather see digibyte using x11

X11 seems to be generating a lot of new traction & attention.  We are definitely looking more into it. Still not sold on it being the best solution yet.

[cryptmebro]

With all the recent Scrypt ASIC news we are strongly considering switching DigiByte to a more ASIC resistant algorithm to ensure a more fair mining opportunity for everyone. Our goal since day one is to make sure there is not centralization of hashing power or technology with DigiByte.

Please explain the reason for your vote and if you voted yes please list and provide a link to the algorithm you support.

Also, if anyone has any case studies of a coin hard forking and switching algorithms please post a link.

switch to X11 algo

+1.  the power savings alone are worth it.

[flipme]

With all the recent Scrypt ASIC news we are strongly considering switching DigiByte to a more ASIC resistant algorithm to ensure a more fair mining opportunity for everyone. Our goal since day one is to make sure there is not centralization of hashing power or technology with DigiByte.

Please explain the reason for your vote and if you voted yes please list and provide a link to the algorithm you support.

Also, if anyone has any case studies of a coin hard forking and switching algorithms please post a link.

switch to X11 algo

I second that.
Leave the ASIC freaks standing in the rain with their shiny new gear.
Its an assault by the elite to take over again.
They can make Flappycoin and Penguin all they want then and have fun trading with each other.

I'd love to see all valuable Altcoins changing algos in a concerted effort.
Just like a general relaunch, would be a whole new round of game for a while.

[DigiByte]

Has anyone read anything about FGPA's being used to mine X11?

[Vann]

With all the recent Scrypt ASIC news we are strongly considering switching DigiByte to a more ASIC resistant algorithm to ensure a more fair mining opportunity for everyone. Our goal since day one is to make sure there is not centralization of hashing power or technology with DigiByte.

Please explain the reason for your vote and if you voted yes please list and provide a link to the algorithm you support.

Also, if anyone has any case studies of a coin hard forking and switching algorithms please post a link.

switch to X11 algo

+1

2.5x more efficient hashing yet runs 20C cooler and consumes 30% less energy. Why would a PoW coin use anything else?