ASICMINER: Entering the Future of ASIC Mining by Inventing It

[gaba]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

[1714182013]

1714182013

[1714182013]

1714182013

[freedomno1]

Well for historical purposes what was the price of BTC when Asicminer began Asicmining
Not sure on costs to implement script though

But back to old post
https://bitcointalk.org/index.php?topic=99497.msg2175763#msg2175763

[empoweoqwj]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Potentially worth a lot. Potentially worth very little. Remember, in the real world, BTC has incredible traction and increasing utility. LTC ..... next to none. Not saying its not worth looking at, but since AM already turned it down because of the way litecoins are mined, I doubt he's going to do a U-turn

[superduh]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Potentially worth a lot. Potentially worth very little. Remember, in the real world, BTC has incredible traction and increasing utility. LTC ..... next to none. Not saying its not worth looking at, but since AM already turned it down because of the way litecoins are mined, I doubt he's going to do a U-turn

money is money. asicminer can autocovert litecoins to bitoins as well as just taking bitcoins. this CAN be a viable business as well and they can be one of the FIRST to market.

[Jutarul]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

[empoweoqwj]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Potentially worth a lot. Potentially worth very little. Remember, in the real world, BTC has incredible traction and increasing utility. LTC ..... next to none. Not saying its not worth looking at, but since AM already turned it down because of the way litecoins are mined, I doubt he's going to do a U-turn

money is money. asicminer can autocovert litecoins to bitoins as well as just taking bitcoins. this CAN be a viable business as well and they can be one of the FIRST to market.

I know money is money. My point is simply that without any traction in the real world, this current litecoin bubble could burst and all those people working on LTC ASICs (and yes, there are competitors planning products already), will have just spent money for nothing.

Personally I think the bitcoin market is way too important to take the eye off the ball. We all know AM has a small staff, and managed to cock-up Gen2. My vote goes to focus, focus, focus, on Gen3 and beyond. Leave altcoins to others.

But if AM thinks they can handle LTC without compromising BTC dev, sure.

[gaba]

Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

Right term is Scrypt mining. Scrypt mining is much bigger than LTC mining. Almost all alt coins are based on Scrypt. Market is growing.
http://www.coinwarz.com/cryptocurrency/

[Jutarul]

Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

Right term is Scrypt mining. Scrypt mining is much bigger than LTC mining. Almost all alt coins are based on Scrypt. Market is growing.
http://www.coinwarz.com/cryptocurrency/

I'd conclude that the reason for choosing scrypt as the basis of new blockchains is to reach a larger user base and to fight the effect of mining warfare, where established networks can squash newcomers. This point makes double sha256 hashing unattractive for newcomers.

There is no inherent benefit of choosing one algorithm over the other. Scrypt is probably chosen as a matter of the cut&paste and pump&dump mentality of the founders. I expect that mentality to change and people will start increasing their innovation level to diversify the POW algorithm itself.

[Voodah]

Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

Right term is Scrypt mining. Scrypt mining is much bigger than LTC mining. Almost all alt coins are based on Scrypt. Market is growing.
http://www.coinwarz.com/cryptocurrency/

I'd conclude that the reason for choosing scrypt as the basis of new blockchains is to reach a larger user base and to fight the effect of mining warfare, where established networks can squash newcomers. This point makes double sha256 hashing unattractive for newcomers.

There is no inherent benefit of choosing one algorithm over the other. Scrypt is probably chosen as a matter of the cut&paste and pump&dump mentality of the founders. I expect that mentality to change and people will start increasing their innovation level to diversify the POW algorithm itself.

Is it not a benefit than scrypt is less susceptible to those big established mining networks?

Or would scrypt invariably end up the same? I know for sure ASICs are not a possibility, right?

[Jutarul]

Is it not a benefit than scrypt is less susceptible to those big established mining networks?

Or would scrypt invariably end up the same? I know for sure ASICs are not a possibility, right?

Only if you define benefit as the temporary absence of a weakness.

Of course there can be an ASIC for scrypt. For one, all you need to do is to minimize the number of transistors used for the core algorithm, getting rid of all the expensive instruction handling in universal processors... At least that will increase computational efficiency. It may take a long time to ROI though, dependend on the market cap (capital expenditure ROI is a function of the opportunity cost difference between acquiring the good vs. the productive capacity).

[bitcoin.newsfeed]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

GTFO with LTC !!! LTC is simply inflating Bitcoin in HUGE scale ... we had 21 000 000 BTC hard limit and now we have 21 000 000 and 84 000 000 LTC You Litecoin evangelist are simply destroying Bitcoin for personal gains. Period.

[Zubilica]

I do believe that AM shares are severely under-evaluated. Futures look bright. Many of us are long time investors, but majority here are looking for a quick buck.

I'm only pissed off, by the lack of communication from AM as a company. Recent news we have from AM comes from  blogers/reporters, not from Friedcat.

This kind of delivery is dangerous, imagine real bad news or FUD spread this way.

[romerun]

Any board members ever pay FC a visit, or thinking of ? To see how the empire is doing. It's somewhere in the IPO contract if I have right.

[Voodah]

Any board members ever pay FC a visit, or thinking of ? To see how the empire is doing. It's somewhere in the IPO contract if I have right.

Is there a public list of board members?

[JimiQ84]

right now whole LTC network is around 60 000 GPUs (if my math is correct... if not, please correct me), so it could fall like dominoes, if someone wanted to. On the other hand, BTC network is much more stable and uncentralizable (if that's even a word, which it probably isn't  )

[jimmothy]

right now whole LTC network is around 60 000 GPUs (if my math is correct... if not, please correct me), so it could fall like dominoes, if someone wanted to. On the other hand, BTC network is much more stable and uncentralizable (if that's even a word, which it probably isn't  )

Considering it is just a clone of bitcoin I wouldn't say it is more centralized or less stable. But really its just a clone and I cant see it taking off like bitcoin has.

[lame.duck]

Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.

This is IMHO not a valid point. when ASICMINER started fundraising the BTC was 12$/BTC while  LTC is 30$/LTC. What important is, is the question if there are enought miner for LTC at the current and/or future price level. The problem is that an external DDR3 interface seems a matter of price. I am not really sure about internal RAM,  maybe with 1T SRAM or eDRAM if this would be less expensive.

[JimiQ84]

Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.

This is IMHO not a valid point. when ASICMINER started fundraising the BTC was 12$/BTC while  LTC is 30$/LTC. What important is, is the question if there are enought miner for LTC at the current and/or future price level. The problem is that an external DDR3 interface seems a matter of price. I am not really sure about internal RAM,  maybe with 1T SRAM or eDRAM if this would be less expensive.

future of scrypt mining is maybe in memristors ( http://en.wikipedia.org/wiki/Memristor ), they should be cheaper, faster and smaller than currently used NANDs or whatever it is in RAM generally

[btcbot]

Article in The Register about Asicminer: Hong Kong Bitcoin miners pour datacentre in a FISH TANK
Virtual currency prospectors go underwater for best results

[finlof]

Is it not a benefit than scrypt is less susceptible to those big established mining networks?

Or would scrypt invariably end up the same? I know for sure ASICs are not a possibility, right?

Only if you define benefit as the temporary absence of a weakness.

Of course there can be an ASIC for scrypt. For one, all you need to do is to minimize the number of transistors used for the core algorithm, getting rid of all the expensive instruction handling in universal processors... At least that will increase computational efficiency. It may take a long time to ROI though, dependend on the market cap (capital expenditure ROI is a function of the opportunity cost difference between acquiring the good vs. the productive capacity).

someone is already developing and promising the scrypt asic - http://alpha-t.net/