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

[crowning]

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.

I had just a quick look through the Cuckoo Cycle whitepaper...looks quite promising.

Thanks for that pointer 

[1715059750]

1715059750

[1715059750]

1715059750

[crowning]

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

Hefty is just SHA-256, Keccak-512, Grøestl-512 and BLAKE-512 combined, in other words 4/11 of X11 (combined slightly different, though).

Nice to make it collision free, but not improving ASIC resistance.

[burningzoul]

Multi-Algo (MYRAID)  --> MYRIAD ( show some respect to innovation ) , I know it was a typo , just kidding!

[smokefirexx]

Would definitely pick the Myriad approach. I would, in fact pick Myriad coin as the solution.  
This coin is inclusive to all relevant mining algorithms and would end the "OMG ASICS INCOMING" fud once and for all.
It could potentially bring different communities under a single blockchain.
Provides the foundation for having the widest distribution of mining, essentially negating the centralization of ASIC mining, whilst still embracing them. ( Win win ?? )

Some people say that the concept and mining of this coin is complicated and not for the average joe. To combat that claim, a all in one miner is being developed by the myriad community.
This miner, with a few clicks of a mouse, would automatically begin to mine the algorithm with the lowest difficulty (for max profit), at your chosen pool. It would somewhat work like the GUI Scrypt miner.

I would definitely recommend checking Myriad out as i view it as a necessity in order to keep the crypto-currency space decentralized and for everyone.
I know that Myriad isn't quite there yet and it has a long road ahead of it, but at the same time one has to realise that myriad is only 2 months old and is very young

Jst my o2.
 
Thanks for reading

[choppy123]

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

ive been saying this all along too...staying as scrypt is the worst choice...if we don't change out of scrypt, i'll be dumping all 6 million of my dgb and buying into a POS coin. It's too bad that the bigger stake holders in dgb don't get more of a say...for the future progress of dgb, we need to change to a different algo and/or a different philosophy

[choppy123]

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.

I agree DGB is underrated...in fact DGB is not a bigger scrypt coin but it's not entirely small either....I still think overall though that DGB is vulnerable to scrypt ASICS destroying the coin....Ive just purchased a few more R9 270x...why? Because I can mine X11 coins using practically no electricity, it's cooler and I believe in crypto in general.....GPUs and cpus keep cryptos decentralized....ASICS defeat the purpose of crypto...I will be mining some coin using which ever algo because GPU mining will never go out of style...GPUs are awesome because they can adapt to mine which ever algo comes out next...Whatever algo DGB goes with (if any change) I will be there mining it.

[Mateusz]

I have voted for : Multi-Algo (MYRAID)

Tell me if I have wrong, but with MYRIAD, each algo will have it's own difficulty right? That's why I voted for this choice...

This,
Myriad is the most secure coin at the moment even if we can't really prove it yet.

X11 is just famous, most of peoples voting for it have even not idea of how it works exactly. X11 is good for the short/medium term only, like Scrypt was. But as soon as this will be "bypassed" by miners, all the coins using this algo will have sever issue.

The thing with multi-algo is each algo have it own difficulty, so even if the scrypt getting mined as hell, this is protected by the other algo.

I'm using absolutely fictive numbers,
but let say you have 2 miners on Skein on a low difficulty, and 400 miners on Scrypt, pushing the Scrypt to high difficulty. It will easier for the 2 dudes on Skein to find the next block, screwing the Scrypt miners, even if they throw out a incredible hashrate.

So this system is absolutely not a hashrate race, but an algo race.

[stormwarrior]

X11 Algo of course,it is a very cool algo.

[frottirzokni]

What I see, only in the last week the number of the DRK miners (in a certain pool) went up from 800 to 1300 (edit: 1400+), and the number is still rising every hour. Im not saying switching to X11 is the answer for the subject of this topic, but it is clear, even the average gpu miners are ready to switch, learn, try out new things. Switching algo is not a bad thing at all. Im afraid staying at srcypt will end up like cooking for months, but no mealtime at the end.

[Spoetnik]

i strongly suspect the massive wave of scrypt clones we're mostly made last few month in prep of scrypt asics coming.
they planned this..

i can see how this might be good for say Litecoin for example but a lot of damage is going to be done i think.
and i feel bad for people holding the OP's coin.. changing algo's is a crappy prospect maybe and what do you do ?
i dumped (i had a lot of Franko)

[Watchy312]

Voted "merge with myriad"

Would be a killing to merge your ideas, hashrate and community together + it's really easy with myriad and they are seeking for partners coins to merge

[smokefirexx]

Voted "merge with myriad"

Would be a killing to merge your ideas, hashrate and community together + it's really easy with myriad and they are seeking for partners coins to merge

That sounds amazing :p

[DigiByte]

Here is an interesting video on the ASIC issue from a Bitcoin video. https://www.youtube.com/watch?v=si-2niFDgtI&feature=youtu.be&t=40m45s

[HCLivess]

So you close the voting with 176 votes so that the results do not reflect the real opinion against your target?

[kelsey]

Litecoins going to be fine....the rest....well does it even matter?

Rest are doomed (because of a way over-saturated market) with or without scrypt asic.

[hellojolin]

X11 , this algo will cool your rig at the hot summer.
So why not ?

[friendlyelmo]

I'm mining Vertcoin, so naturally, my vote would go to Scrypt-N.

[SomethingElse]

ASICs are making coins centralized, that is the real problem.  The answer is to start over from scratch with a completely new system.  Lots of 2.0s are trying, none have succeded yet, but I think there is a chance for a coin to come up with a POsomething that will be better than what is currently offered.  If If If we have to stick with centralized mining pools then I guess multiple blockchains that are merge mined, but that is kind of just trying to make a broken system less broken.

[DigiByte]

ASICs are making coins centralized, that is the real problem.  The answer is to start over from scratch with a completely new system.  Lots of 2.0s are trying, none have succeded yet, but I think there is a chance for a coin to come up with a POsomething that will be better than what is currently offered.  If If If we have to stick with centralized mining pools then I guess multiple blockchains that are merge mined, but that is kind of just trying to make a broken system less broken.

We feel a multi-algo approach that allows Bitcoin ASICS, Scrypt ASICS & GPU's to mine is the future!

[choppy123]

ASICs are making coins centralized, that is the real problem.  The answer is to start over from scratch with a completely new system.  Lots of 2.0s are trying, none have succeded yet, but I think there is a chance for a coin to come up with a POsomething that will be better than what is currently offered.  If If If we have to stick with centralized mining pools then I guess multiple blockchains that are merge mined, but that is kind of just trying to make a broken system less broken.

We feel a multi-algo approach that allows Bitcoin ASICS, Scrypt ASICS & GPU's to mine is the future!

Does this mean adopting the myriadcoin algorithm or making a completely new one?

I don't know much about myriad but I don't believe that it can be mined by all asics and gpus...seems like a good choice...can't wait for more news