guys buying scrypt asics?

[thresher]

Why are you guys doing it, it seems too risky?
I'm asking because i'm debating buying an Olympus force (Zeus festival, so i'd have to buy some other pos too), but it seems insanely risky (any other scrypt asics seems like a guaranteed loss right now.) 

I actually purchased some ltc the other day, because I am hoping that big money will pump it, though I have my doubts. 

[MilesJohan]

Why are you guys doing it, it seems too risky?
I'm asking because i'm debating buying an Olympus force (Zeus festival, so i'd have to buy some other pos too), but it seems insanely risky (any other scrypt asics seems like a guaranteed loss right now.) 

I actually purchased some ltc the other day, because I am hoping that big money will pump it, though I have my doubts. 

I don't believe in scrypt asic, manufacturer is producing it too fast and the difficulty will sky rocket before you even break even.

[JHammer]

Why are you guys doing it, it seems too risky?
I'm asking because i'm debating buying an Olympus force (Zeus festival, so i'd have to buy some other pos too), but it seems insanely risky (any other scrypt asics seems like a guaranteed loss right now.) 

I actually purchased some ltc the other day, because I am hoping that big money will pump it, though I have my doubts. 

I don't believe in scrypt asic, manufacturer is producing it too fast and the difficulty will sky rocket before you even break even.

Agree

[Mayuyu48]

forget scrypt, many people leave it when scrypt asic entered the market
and newly launched coin avoid scrypt algo
worse thing, scrypt coin price climb down everyday, hard to make ROI here

[coinsolidation]

mining profitability is determined by currency value proposition to end users, if it has none profitability will decrease and become loss.

hashing algo does not matter, currency utility matters

[Equate]

forget scrypt, many people leave it when scrypt asic entered the market
and newly launched coin avoid scrypt algo
worse thing, scrypt coin price climb down everyday, hard to make ROI here

yes , with downtrend in LTC prices , even ROI with Scrypt Asics is becoming difficult.

[thresher]

So none of you guys are buying them, who the hell is lol?

[Judgment]

Is it just me or did the introduction of scrypt asics actually make scrypt coins less valuable

[induktor]

I think it showed that bitcoin still is the king and will be for a while, and that none of the Scrypt coins are interesting enough to justify his enormous hash rate that the asics are making.
don't get me wrong, I am not saying LTC is crap, on the contrary, i believe in it, but i don't think it has enough market usage to justify such a huge difficulty, so in a way, yes the entering of the scrypt asics to the scene are damaging LTC.
my money is on VTC right now
i would love to hear other opinions.

[brian_23452]

Is it just me or did the introduction of scrypt asics actually make scrypt coins less valuable

Why would you have expected any different?  Scrypt in general have been declining in value the entire year, lead by litecoin. 

Anyways, to the OP, I would imagine most of the people purchasing scrypt asics aren't actually purchasing them, but manufacturing them.  Think companies like gridseed.  And then too people who can purchase them for substantially less than full retail price.  If you can get them for anything less than about half the prevailing retail rate they are profitable. 

[brian_23452]

I think it showed that bitcoin still is the king and will be for a while, and that none of the Scrypt coins are interesting enough to justify his enormous hash rate that the asics are making.
don't get me wrong, I am not saying LTC is crap, on the contrary, i believe in it, but i don't think it has enough market usage to justify such a huge difficulty, so in a way, yes the entering of the scrypt asics to the scene are damaging LTC.
my money is on VTC right now
i would love to hear other opinions.

Couldn't disagree more.  The fact is, there is simply little reason for more then one crypto to be in use.  When you cut through all the hype, and all the bullshit (look, our coin has a great community, or a video game built into the wallet, or whatever shit people are hyping at the moment), at the end of the day what matters is acceptance.  Can the coin actually be used as a currency?  For the vast majority of coins, the answer is no, and so they are ultimately worthless.  They start out having some value because speculators hope they will be the one in a million that breaks out like BTC did, and then when they don't, they decline in value.  A currency you can't buy things with doesn't have much use.  And we all know that there is barely enough acceptance for one coin, let alone several hundred.  It's nice to pretend that all the bullshit that is built into coins these days is important, but can you buy anything with it?  No?  Then gtfo.  It's a little like a social media platform in that regard.  You can have the best one in the world, but at the end of the day, people are going to use the one their friends are all using.  ASICS don't really have anything to do with this process except to accelerate the inevitable.

[induktor]

Very interesting point.
I agree with your point of view, and that scrypt only accelerates the inevitable.

[lynn_402]

Is it just me or did the introduction of scrypt asics actually make scrypt coins less valuable

Imho, it's because it is now easier to set-up large mining operations where the owner dumps his coins for fiat.
With GPUs, mining was done mostly by those who believed in the values of cryptocurrencies (although it's not the case anymore even with X11 coins, as too many of them use multipools to get Bitcoins through them.)