Poll: What is the best solution to the coming Scrypt ASIC problem?

[the_game1224]

A few weeks back I was all about switching algorithms but the more I think about it the more I think it won't solve IMO the even bigger problem facing DigiByte right now.....exposure/adoption.  Also there is nothing saying ASICs wont be developed for the "resistant" algorithms.  I think Multi-Algo will be too confusing for your average Joe to truly understand and too much technical hassle.  

I voted merged mining with Dogecoin.  

Pros:
-Solves the ASIC issue with increased net hash.
-Huge exposure boost.  /r/dogecoin alone has 75,000+ readers most of whom are already familiar with DigiByte due to past work.  Their are constant news headlines about it, heck in two weeks they will have a NASCAR racing at Talladega and possible in the All Star race.
-If DogeCoin continues to grow in theory so would DigiByte.
-I see Dogecoin and DigiByte as siblings with Doge covering the internet/tipping and DigiByte falling more in the professional realm.

Cons:
-Success/failure will be partially tied to DogeCoin
-Will people that mine only keep their DogeCoin and sell the DigiByte?  (Obviously multi-pools are going to sell both)

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[BitJohn]

ASICS are the future might as well sell the old GPU I am sure its made ROI by now...... So my vote was do nothing.

[Voluntold]

I was going to be a bastard and say: sell yr DGB and move into PoS, preferably with NXT, but someone beat me to it.....

Well thanks for calling me a bastard   

[choppy123]

I was going to be a bastard and say: sell yr DGB and move into PoS, preferably with NXT, but someone beat me to it.....

I agree 100% that POW will be obsolete at some point. From our earlier discussions, I suggested an X11/POS hybrid for DGB but unfortunately a few coins are popping up with this exact makeup now. There has been alot of resistance to go the POS route by members of DGB forum. Clearly they don't fully understand what's happening. Honestly at this point, every move is risky for DGB. If we adopt X11 without POS or any other value added feature then we are just a copycat of Darkcoin (ie. = Hirocoin)...

Not sure what to do however POS should be considered in the list of options...

[choppy123]

Buy NXT or mine it at hashrate.org is what you should do, because PoW is going to eventually be a thing of the past.  The only PoW coins that will be worth something imo are coins that use the hashing power for something useful like prime numbers or BOINC or something.  But just hashing numbers for no purpose, and wasting electricity when we now know of better ways to secure networks (like PoS), is going to eventually be obsolete I think.

I agree and have been saying this for months....

[choppy123]

Buying script ASICs would be the best solution.

you mean as a DGB community buy asics to secure our own network? this is actually an excellent idea, if doing nothing is the route that we go. There are risks with this too (not sure what they would be)..anyone have any thoughts on this?

[choppy123]

Buying script ASICs would be the best solution.

you mean as a DGB community buy asics to secure our own network? this is actually an excellent idea, if doing nothing is the route that we go. There are risks with this too (not sure what they would be)..anyone have any thoughts on this?

or doing exactly what blackcoin is doing but in a more transparent manner...the blackcoin multipool is a great idea but i believe the developers are stealing....we could buy asics as a community and create our own transparent and honest multipool.....we could all buy shares of the asics which will give us dgb in return....doing this in conjunction with switching to x11 is ideal.....it will accomplish 3 things

1. x11 will prevent dgb from being mined and dumped by asics
2. x11 will allow us gpu miners to mine dgb with low electricity
3. buying DGB community asics, we can mine junk coins and buy x11 dgb

[benjamoyne]

Merge mine with Doge for me.

Switching algos will only just buy us more time.

If we combine community's there's more of an opportunity for both coins to grow, plus it would get us a bit more mainstream acceptance.

[DigiByte]

Merge mine with Doge for me.

Switching algos will only just buy us more time.

If we combine community's there's more of an opportunity for both coins to grow, plus it would get us a bit more mainstream acceptance.

This is something we are willing to look into more for sure. The idea is very attractive if we decide not to switch algos.

[ateneto]

My opinion is:
You can not resist evolution and progress.
Don't do anything or go merge mining.

[haggis]

An DBG specific ASIC which can only be bought with DGB would be cool  

For me the Myriad way sounds best when you ignore the technical issues. However, since I have no coin-dev experience I have no idea what they could be?

[cutetechie]

Thanks for the great summary on the first post. Was looking for something like this.

By the way, one question I have. What is the estimated timeline on Scrypt ASICs coming out in full force?

[DigiByte]

Thanks for the great summary on the first post. Was looking for something like this.

By the way, one question I have. What is the estimated timeline on Scrypt ASICs coming out in full force?

More than likely by June/July they will be here in full force.

[maryjoanah]

Not many people will be willing to change algo for each coin. Its irritating. If you want the hash rates, its better to go with popular. Looks like x11 is becoming very popular now.

[piratfx]

HEFFTY1 !, for now it's best algo ( low temp , really low fan noise, high power efficience, simple gtx 765m got 4,5MH ). I propose to check this ALGO, just mine hevay coin for a while and U will see, smooth and easy

[Spoetnik]

Everyone shut up.. i am the smart one here !

i was thinking of bring this up the other day.. seems like the community is asleep and going to get steam rolled..
i have been saying right from the start that scrypt asics are going to tank scrypt coins and idiots just argue and give me dumb excuses..
they prob have pre-orders and can't want to dump on unsuspecting idiots.. like exchange guys selling mining shares LOL
as usual people bs like crazy to line their pockets..

it's called supply and demand.. if we have a super short period where all of a sudden 100x more scrypt coins are being dumped
and yes they will be dumped.. people have bills to pay ..You don't get a gpu roi unless you cash out
then what happens ?
Well morons have have argued with me for ages that this is going to make scrypt coins 100x higher in value
and that is the dumbest thing i have heard yet and everyone is saying that.
i was surprised to see this topic and someone agree with me, i am still stunned.. finally we have someone speaking that isn't a fucking moron lol

I got me mostly Vertcoin and i am mining X13. <-- did not see any x13 stuff in the Poll list

I did not vote because i want the voting option
- Anything but scrypt (to mine / trade etc)

what would happen if went and dumped 500,000 Bitcoins on BTC-E ? Is that going to drive the price to 10 grand a coin ? lol
asics turn garbage into gold ? oh really ?? 
go look at coinchoose at the list of SHA coins and tell me how awesome they are and how popular and high in value they are..
spoiler alert: they aren't.. they are all fucking garbage no one wants anything to do with.

forking is a good point too, i keep forgetting about that.. this is when the Exchange(s) are going to have step up (and coin dev's cloners)
AND START notifying their customers.. hear me Cryptsy ?

And yeah maybe it will end up good for Litecoin itself but there is far too many scrypt clone coins diluting the market / scene so.. shits going down lol

are you all finally waking up ?

i dumped my scrypt coin holding way back when i seen scrypt asics coming and the whole time since i seen no one agreeing with me..
nothing but dumb excuses at to how they are going to make scrypt coins worth a fortune..
and supply and demand dictates saturating a market is not a magical way of making a rare thing less rare and worth far more
that is just pure raw stupidity big time !

I vote who cares.. just pick something else than scrypt lol

[flipme]

The DEV seems clueless.
What a crap way of finding a decision.
YOU are in charge.

And you probably know the answer by yourself.
Sure its X11. Or 12 or 13 or whatever.

All this rants about non optimized software is pure propaganda.
It addresses the technically imbecile with cheap arguments.
Every nerd would tell you that its pure bullshit.
But those "lobby" people are as successful as ever spreading some tabloid disinformation.

By the way, ASICS are not a threat for X11, much too expensive.
FPGA could have a good comeback with that.
And I would promote it.
It saves energy and would run on off the shelf hardware.
Not on some bo-peep piece of shit.
Hehe, have a looky here, burn baby burn.

Can anyone tell me, what the marked parts (1-5) are?
I have two Gridseed miners (5 chip version, 350 KH/s), where this parts are burnt down.

Stop the cheapness already!

[pandacoin]

Do nothing. That isn't even a problem. Scrypt ASICs are coming and it doesn't hurt if your coin is strong enough. If not, you can't do anything then. Changing algos won't be a solution.

[crowning]

...Skein looks to be the most RAM intensive.

Nope, see the Skein whitepaper, chapter 5.2:

http://www.skein-hash.info/sites/default/files/skein1.3.pdf

[WompRat]

I like ASICS.  They are so much more efficient than GPUs and allow for proper commercial business plans to be shaped around them.  I think the bigger Scrypt coins will be absolutely fine in this new world just as bitcoin proved to be.  Smaller ones may be run over. 

DIgibyte is a great coin and it is a shame it is not more popular, but it needs more exposure.  There will shortly be an army of unemployed GPU miners looking to mine something and it is worth exploiting this group, just as Litecoin did in 2013 and Dogecoin in the first few months of 2014.  I love Doge, but the future is uncertain and a merge is a big gamble until we know if the coin has legs past January.

I would therefore recommend a switch to something else more GPU or even CPU friendly.  Cuckoo Cycle seems very promising if you want the widest audience possible mining.