Litecoin Founder Says Dump Scrypt to avoid ASICs

[coins101]

From cross post

https://bitcointalk.org/index.php?topic=563075.msg6153910#msg6153910



Some think ASICs are a good thing, some think they are a bad thing.

The introduction of ASICs only happens once a coin reaches a certain value. It's very hard to stop ASICs. Or is it? If everyone switches algorithms that sends a message to ASICs makers and investors that they run the risk of losing money.  Doesn't it?

Should every Scrypt coin change their PoW algorithms to avoid being killed by Scrypt ASICs as indirectly implied by the Litecoin Creator, Charles Lee, who also made Scrypt so popular in the first place?

[Don007]

That would have worked if the Scrypt Asics werent developed yet, but they are.

In a couple of months the scrypt Asics will dominate the scrypt market. People who dont want Asics in their market, join scrypt-n or Scrypt Jane coins

[coins101]

more votes please

[Acidyo]

A very misleading title.

You should be ashamed of yourself.

[coins101]

A very misleading title.

You should be ashamed of yourself.

Switching to another PoW is definitely better than keeping Scrypt.

Start of second para.

[coins101]

Why is Charles Lee spending so much effort trying to get Dogecoin to merge mine with LTC?

[Rofo]

You've taken that quote quite out of context. Are you even aware of the full story?

[coins101]

You've taken that quote quite out of context. Are you even aware of the full story?

I mined LTC for a long time.

I know the context. I have read the long explanations to the Litecoin miners by Charles Lee and Warren. I also saw they locked down the conversion fairly quickly.

[coins101]

more votes anyone?

[coins101]

You've taken that quote quite out of context. Are you even aware of the full story?

In his own words.



If he had the chance, he would dump scrypt.

[Don007]

I don't think ASICs are bad for LTC. Yes, it's bad for the GPU miners and farms.

But, the value of BTC went insane while it's mined mostly by ASICs. Maybe the value of LTC will go insane too, as soon as the Scrypt ASIC market is alive and kicking. .

(And, those ASICs are better for the nature, global warming etc ).

[dE_logics]

You guys have no idea.

https://bitcointalk.org/index.php?topic=644595

The answer to all your questions (unless they're very lame).