Scrypt ASICs Will Force GPU Miners To Look For Energy Efficient Coins

[coins101]

The Scrypt ASIC arms race has started. Those with GPUs will want to either sell their GPUs or more likely look for another coin to mine.

But which is the best coin to mine and hold for the long-term, whilst also helping out on lower electricity costs?

This is for Proof of Work only.

Did I miss any you think should be on the list? Let me know.

[El Dude]

scrypt-n will also be mineable with asics.


every good coin gets ASICs.

[AlterMiner]

scrypt-n will also be mineable with asics.


every good coin gets ASICs.

http://www.reddit.com/r/vertcoin/comments/212ksm/bliss_devices_ceo_says_their_asics_can_change/cg90upb

Hi Guys

This is interesting but by no means alarming, I have just spoken with the rest of the team and here are our thoughts.

Vertcoin has never claimed its impossible for ASIC’s to mine Nfactor it does however make it more difficult, with that said Vertcoin has said that it will do everything in it’s powers to remain ASIC resistant.

We have a number of measures in our arsenal to stop these ASIC’s in their tracks, could they spend a year and invest millions to mine Vertcoin? the answer is probably yes, in response would we change Vertcoin to make the time and investment worthless? most definitely yes.

We could hard fork now and make these claims redundant but we think that its best to keep our cards to our chest and keep them second guessing, this isn’t bravado this is protecting all of our investments and helping to maximise our strategy that continues to be keeping vert coin ASIC resistant.

Paul talks on this matter in his recent interview with David Seaman so check it out.

Keep holding on to your nuggets and enjoy the ride.

Best

Webbs for Team Vertcoin

[El Dude]

scrypt-n will also be mineable with asics.


every good coin gets ASICs.

http://www.reddit.com/r/vertcoin/comments/212ksm/bliss_devices_ceo_says_their_asics_can_change/cg90upb

Hi Guys

This is interesting but by no means alarming, I have just spoken with the rest of the team and here are our thoughts.

Vertcoin has never claimed its impossible for ASIC’s to mine Nfactor it does however make it more difficult, with that said Vertcoin has said that it will do everything in it’s powers to remain ASIC resistant.

We have a number of measures in our arsenal to stop these ASIC’s in their tracks, could they spend a year and invest millions to mine Vertcoin? the answer is probably yes, in response would we change Vertcoin to make the time and investment worthless? most definitely yes.

We could hard fork now and make these claims redundant but we think that its best to keep our cards to our chest and keep them second guessing, this isn’t bravado this is protecting all of our investments and helping to maximise our strategy that continues to be keeping vert coin ASIC resistant.

Paul talks on this matter in his recent interview with David Seaman so check it out.

Keep holding on to your nuggets and enjoy the ride.

Best

Webbs for Team Vertcoin

and how would Team Vertcoin even know they are getting ASICed , what if the company keeps it a secret mines a whole bunch then sells them.

[mkasiak]

I am not sure whether X11 is solution to prevent ASICs - see this interesting thread https://bitcointalk.org/index.php?topic=528872.0;all
But it is sure that mass moving of miners and traders from scrypt to something else will discourage future developers of X11 or scrypt-n ASICs.

[TTM]

But it is sure that mass moving of miners and traders from scrypt to something else will discourage future developers of X11 or scrypt-n ASICs.

No, only part of GPU miners will leave scrypt. And why traders ?

[atp1916]

It is about time Scrypt got relegated to the ASICs.  Litecoin came out in October 2011.  It has had a heck of a run.

The wheel must be re-invented when necessity dictates.  That time is now.  

Do not fear change - be its master.

[Wipeout2097]

Vertcoin winning this poll ??  

There is no such thing as popular opinion on this matter. You mine each of those coins, tune for max hashrate, and measure the power draw at the wall.

[iopq]

groestl-coin is very energy efficient

[tromp]

The Scrypt ASIC arms race has started. Those with GPUs will want to either sell their GPUs or more likely look for another coin to mine.

But which is the best coin to mine and hold for the long-term, whilst also helping out on lower electricity costs?

This is for Proof of Work only.

Did I miss any you think should be on the list? Let me know.

The most energy efficient PoW for a GPU is one that saturates the memory
with random accesses, and minimizes energy-wasting computation,
hence none of the above.