The Future of Scrypt?

[Gazza1]

Now that we have X11 it seems pointless to GPU mine scrypt coins when X11 uses half the power draw, has a faster hashrate, and significantly lower temps.  It's amazing I've been able to turn my GPU fans down to 45% from 100%, it's so much quieter and we can also run twice as many GPUs per breaker and per PSU.

The only benefit to scrypt coins are the Scrypt ASICs.  Small scrypt ASICs are here and large ones are around the corner.

So with those things being said what are your guy's predictions of altcoin futures down the road.  Less and less scrypt coins being made?  More X11 seems like a given.  Will ASICs even be worth it if scrypt coins are going to be squeezed out?  Sure scrypt will still be made for this reason.  But will it be like SHA-256 is today, where every SHA-256 coin's profitability constantly hovers around Bitcoin which is forever decreasing less and less.  Will all scrypts then hover around Litecoin with a constant downward trend?

Thoughts, ideas, words of wisdom, etc.  Post them here

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[slapper]

Litecoin was created to be ASIC resistant. It was a solution to a problem. Scrypt ASICs create a problem for that very solution. As much as coblee is likeable, there seems to be no point to the usefulness of Litecoin. What do you want to do with it that you cannot do with Bitcoin?

Scrypt ASICs != SHA256 ASICs. It is a different ballgame altogether. It will benefit the following

1) ASIC manufacturers.
2) Day traders.
3) Early Litecoin investors short term.

Small ASIC miners will lose out the most.

There is virtually no meaningful use case for Litecoins. It is not a store of value or a currency. Confusing times ahead.

[dspair]

X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.


Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf

[slapper]

X11 and SHA3 ( Keccak ) are not ASIC resistant at all, according to NIST (National Institute of Standards and Technology), if you want to become SHA3 candidate, you need to be able to create by ASIC. AND every algorithms in X11 used to be SHA3 candidate until Keccak win the competition and become SHA3.


Here is the paper : http://csrc.nist.gov/groups/ST/hash/sha-3/Round2/Aug2010/documents/papers/SCHAUMONT_SHA3.pdf

Yah he is on a tear with that whitepaper. x11 may not be ASIC resistant but it has a great advantage to a normal scrypt coin right now

1) Cooler temperatures.
2) Power savings up to 60% compared to scrypt.
3) A chance for small miners to mine and profit for the foreseeable future until x11 ASICs are even relevant.

Darkcoin's main draw is privacy solutions. x11 is just a wonderful algorithm towards mining it. Darkcoin is a competing technology to AnonCoin. If x11 coins are successful, you bet they will come out with ASICs for it. Pure x11 coins that are marketing it as ASIC resistant are obviously false advertising and trying to lure the GPU miners who have started to look for non-scrypt coins. Even so they will remain ASIC resistant for at least 2 years if not more.

[markm]

The only reason miners profit on new garbage coins is by scamming idiots into paying good money for them.

Thus the mining becomes a scam.

The original poster makes it clear it is all about scamming money out of people, not about providing a secure blockchain.

So this thread is basically about how best to scam people, not about making a secure currency at all.

Miners are an evil best avoided entirely. For proof of work blockchains they are unfortunately necessary.

Mining is intended by design to tend toward no profit.

Only the most efficient generators of electricity should be able to afford to mine, if others can then the market is screwed up, it has not reached efficiency.

This thread basically proposes deliberate creation of deliberately inefficient markets so as to scam money from consumers by profiting from the deliberate inefficiency of the proposed markets.

Basically the plan is efficient markets advantage consumers so lets say screw market efficiency and create yet another new market deliberately designed to at least temporarily be inefficient so we can at least temporarily screw the consumers, scamming them into paying for the deliberate inefficiency of the markets we create...

-MarkM-

[Gazza1]

The only reason miners profit on new garbage coins is by scamming idiots into paying good money for them.

Thus the mining becomes a scam.

The original poster makes it clear it is all about scamming money out of people, not about providing a secure blockchain.

So this thread is basically about how best to scam people, not about making a secure currency at all.

Miners are an evil best avoided entirely. For proof of work blockchains they are unfortunately necessary.

Mining is intended by design to tend toward no profit.

Only the most efficient generators of electricity should be able to afford to mine, if others can then the market is screwed up, it has not reached efficiency.

This thread basically proposes deliberate creation of deliberately inefficient markets so as to scam money from consumers by profiting from the deliberate inefficiency of the proposed markets.

Basically the plan is efficient markets advantage consumers so lets say screw market efficiency and create yet another new market deliberately designed to at least temporarily be inefficient so we can at least temporarily screw the consumers, scamming them into paying for the deliberate inefficiency of the markets we create...

-MarkM-

It figures only a pure jackass would reply to this thread.

It has nothing to do scamming you incompetent asshole.  

Fucking dicks.

This thread is about mining algorithms and the future of them.  Where do you see scamming?

forget it.  I already know what I need to know.  Just thought this would be an interesting discussion.