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superduh
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March 19, 2014, 07:24:49 PM |
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with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.
The point in scrypt is that it's ASIC resistant and the Litcoin devs are against ASICs. They might very well alter the code or switch to sth else than scrypt and make your 10K USD scrypt ASIC into a very expensive doorstop (you could probably still use it as an electric heater, hoping it's not too noisy for the home). I can see why FC doesn't want to waste allocate resources for developing a scrypt ASIC. +1. scrypt ASICs dont make much sense. If a single cryptocurrency is to succeed it would be Bitcoin, otherwise it would be another SHA-256 coin that improves significantly in a few ways (such as smaller size blockchain, shorter block times, or the capability to handle much more volume) so that the massive pile of existing infrastructure remains useful and secures the network. its like inventing the stone wheel, then deciding that the rubber-covered square is the real game-changer I don't think they can force a hard fork given ASICs are rolling out and making an impact, it'll only destroy the coin by forcing a hard fork, so scrypt ASIC and coins are here to stay! correct - "hardforking" litecoin will likely kill it or cause financial losses to those vested in it. ain't gonna happen. also, you have to really understand that just cause it makes sense to you doesn't mean the world will be on the same page. if litecoin shoots up to $100 after scrypt asics people will be fine mining them as well. keep in minding that implementing BOTH bitcoin and say litecoin is ALMOST frictionless since it doesn't require much "coding changes" i'm almost certain that prices of litecoin will approach $100 by year end and scrypt asics could be a huge opportunity (WITH LITTLE RISK). you don't want ASICMINER to be like "intel with mobile chips" - completely miss a money making opportunity. doesn't matter if you like scrypt or litecoins - if it makes money and good amount of money friedcat should apply his expertise. |
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eb3full
VIP
Full Member
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Activity: 198
Merit: 101
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March 19, 2014, 07:34:51 PM |
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No dividend yet? Weird...
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"With four parameters I can fit an elephant, and with five I can make him wiggle his trunk." John von Neumann
buy me beer: 1HG9cBBYME4HUVhfAqQvW9Vqwh3PLioHcU
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bitcoin.newsfeed
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March 19, 2014, 07:55:19 PM |
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No dividend yet? Weird...
aaaaand no update too  maybe they're updating to 0.9 ... but what about that deleted update ... something happened, again about that scam-coins discussion : Once more, what is the purpose of LTC ? Really ? What can LTC offer over Bitcoin ? Now ? In future ? Do you pro-LTC guys know, that one mayor thing what gives bitcoin value, is named scarcity ? That we have hard coded 21M limit ? So that it never be more than 21M coins out there ? You really want to add 84M LTCs into it ? Inflating bitcoin in a big way like FED is inflating USD ? "Printing" next alt-coins ? What next ? I am happy that companies like BitPay or ASICminer doesn't support alt-coins. They understand. Greedy miners don't. |
... Question Everything, Believe Nothing ...
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dexX7
Legendary
Offline
Activity: 1106
Merit: 1026
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March 19, 2014, 08:01:55 PM |
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with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.
I rather prefer to see them crushing their competition with what they do now: push innovation (things like immersion cooling) and superior architecture. Bitcoin mining will always be about being one step ahead and that's what is giving us an edge and a leading role in the future. |
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jimmothy
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March 19, 2014, 08:14:28 PM |
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with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.
The point in scrypt is that it's ASIC resistant and the Litcoin devs are against ASICs. They might very well alter the code or switch to sth else than scrypt and make your 10K USD scrypt ASIC into a very expensive doorstop (you could probably still use it as an electric heater, hoping it's not too noisy for the home). I can see why FC doesn't want to waste allocate resources for developing a scrypt ASIC. +1. scrypt ASICs dont make much sense. If a single cryptocurrency is to succeed it would be Bitcoin, otherwise it would be another SHA-256 coin that improves significantly in a few ways (such as smaller size blockchain, shorter block times, or the capability to handle much more volume) so that the massive pile of existing infrastructure remains useful and secures the network. its like inventing the stone wheel, then deciding that the rubber-covered square is the real game-changer I don't think they can force a hard fork given ASICs are rolling out and making an impact, it'll only destroy the coin by forcing a hard fork, so scrypt ASIC and coins are here to stay! I agree that a hard fork would be destructive but I don't know if scrypt-coins are here to stay. Correct me if I'm wrong but isn't the main purpose of scrypt to be asic resistant and now that asics exist we might see a new algorithm that is more gpu friendly and more asic resistant causing most gpuminers to switch and bringing down the value of scrypt coins as they do so. I don't think there is a big enough market to justify the risks of creating a scrypt asic but then again the same could have been said a year ago with bitcoin. |
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superduh
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March 19, 2014, 08:50:33 PM |
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with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.
The point in scrypt is that it's ASIC resistant and the Litcoin devs are against ASICs. They might very well alter the code or switch to sth else than scrypt and make your 10K USD scrypt ASIC into a very expensive doorstop (you could probably still use it as an electric heater, hoping it's not too noisy for the home). I can see why FC doesn't want to waste allocate resources for developing a scrypt ASIC. +1. scrypt ASICs dont make much sense. If a single cryptocurrency is to succeed it would be Bitcoin, otherwise it would be another SHA-256 coin that improves significantly in a few ways (such as smaller size blockchain, shorter block times, or the capability to handle much more volume) so that the massive pile of existing infrastructure remains useful and secures the network. its like inventing the stone wheel, then deciding that the rubber-covered square is the real game-changer I don't think they can force a hard fork given ASICs are rolling out and making an impact, it'll only destroy the coin by forcing a hard fork, so scrypt ASIC and coins are here to stay! I agree that a hard fork would be destructive but I don't know if scrypt-coins are here to stay. Correct me if I'm wrong but isn't the main purpose of scrypt to be asic resistant and now that asics exist we might see a new algorithm that is more gpu friendly and more asic resistant causing most gpuminers to switch and bringing down the value of scrypt coins as they do so. I don't think there is a big enough market to justify the risks of creating a scrypt asic but then again the same could have been said a year ago with bitcoin. you're ignoring the big picture, the realllly BIG picture. did gpus leaving bitcoin drive the price down? no, it drove the price up many times. why would you think the same thing will not happen with scrypt coins! bitcoin is great but just focusing on how great it is while avoiding the big picture is a dangerous task. if you can make more money building scrypt miners and selling them to the public than say "immersion cooling" than they should be "profit seeking". being altruistic and true to "bitcoin" doesn't matter since this isn't a "nonprofit" company. friedcat is here to make himself a lot of money and make his investors a lot of money - no point to discuss whether litecoin will be around in x years when he can make a lot of money for himself and investors in the time being. go where the money is going. |
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jimmothy
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March 19, 2014, 08:56:23 PM |
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Difference between bitcoin and litecoin is that the sole success of litecoin was due to being asic resistant.
But I cannot pretend to know how scrypt asics will effect the coins as anything could happen.
I think if FC wants to venture down that road I would support him but if he feels it would not be worth it and instead would like to focus only on btc asics I would support him as well.
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KS
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March 19, 2014, 09:46:55 PM |
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with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.
The point in scrypt is that it's ASIC resistant and the Litcoin devs are against ASICs. They might very well alter the code or switch to sth else than scrypt and make your 10K USD scrypt ASIC into a very expensive doorstop (you could probably still use it as an electric heater, hoping it's not too noisy for the home). I can see why FC doesn't want to waste allocate resources for developing a scrypt ASIC. +1. scrypt ASICs dont make much sense. If a single cryptocurrency is to succeed it would be Bitcoin, otherwise it would be another SHA-256 coin that improves significantly in a few ways (such as smaller size blockchain, shorter block times, or the capability to handle much more volume) so that the massive pile of existing infrastructure remains useful and secures the network. its like inventing the stone wheel, then deciding that the rubber-covered square is the real game-changer I don't think they can force a hard fork given ASICs are rolling out and making an impact, it'll only destroy the coin by forcing a hard fork, so scrypt ASIC and coins are here to stay! I agree that a hard fork would be destructive but I don't know if scrypt-coins are here to stay. Correct me if I'm wrong but isn't the main purpose of scrypt to be asic resistant and now that asics exist we might see a new algorithm that is more gpu friendly and more asic resistant causing most gpuminers to switch and bringing down the value of scrypt coins as they do so. I don't think there is a big enough market to justify the risks of creating a scrypt asic but then again the same could have been said a year ago with bitcoin. you're ignoring the big picture, the realllly BIG picture. did gpus leaving bitcoin drive the price down? no, it drove the price up many times. why would you think the same thing will not happen with scrypt coins! bitcoin is great but just focusing on how great it is while avoiding the big picture is a dangerous task. if you can make more money building scrypt miners and selling them to the public than say "immersion cooling" than they should be "profit seeking". being altruistic and true to "bitcoin" doesn't matter since this isn't a "nonprofit" company. friedcat is here to make himself a lot of money and make his investors a lot of money - no point to discuss whether litecoin will be around in x years when he can make a lot of money for himself and investors in the time being. go where the money is going. What makes you think the ASICs coming to GPUs leaving BTC made the price go up?? Where do you find the causality?? |
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superduh
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March 19, 2014, 10:31:52 PM |
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What makes you think the ASICs coming to GPUs leaving BTC made the price go up?? Where do you find the causality??
noone can prove causality about anything bitcoin related for the most part. but, look at the correlation. look at the time that asics started mass coming out and the price (obviously many factors involved). the theory is that miners spent way too much on mining gear that probably wont roi in btc so them selling at a loss didn't make sense so hence driving prices up (miners refusing to sell below fiat/btc cost) - mining costs are essentially a floor at the moment. there are many theories of course. regardless, people are going against alt coins for the wrong reasons. it's purely a "business decision" where if profit > cost or opportunity cost than you do something. 100mh (effectively 100gh in sha-2) mining is going for 10k. there's obviously higher margins there for the time being. |
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freedomno1
Legendary
Offline
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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March 19, 2014, 10:52:46 PM |
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It would be pretty cool if ASICMINER was in peak mining form (i.e., huge dividends) in two months at the same time the next big rally is underway. That would be quite the wealth multiplier.
Lol I thought of Peak Oil when you said that and was like na there will always be new discoveries increasing reserves and if the price keeps rising higher demand pushing the technology and industry to keep exploring where it once didn't seem viable  |
Believing in Bitcoins and it's ability to change the world
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bitcoin.newsfeed
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March 19, 2014, 11:03:58 PM |
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hmmm 00:00 in my country right now, do we have 1st week without dividend ?  Board, any info for heads up? Whats happening? |
... Question Everything, Believe Nothing ...
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nycgoat
Member
Offline
Activity: 117
Merit: 10
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March 20, 2014, 12:13:58 AM |
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hmmm 00:00 in my country right now, do we have 1st week without dividend ? Board, any info for heads up? Whats happening? Their address has plenty of coins in it, probably just a software bug on their end. I think they paid our a day late last week too. |
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Bonam
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March 20, 2014, 12:40:12 AM |
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What makes you think the ASICs coming to GPUs leaving BTC made the price go up?? Where do you find the causality??
noone can prove causality about anything bitcoin related for the most part. but, look at the correlation. look at the time that asics started mass coming out and the price (obviously many factors involved). the theory is that miners spent way too much on mining gear that probably wont roi in btc so them selling at a loss didn't make sense so hence driving prices up (miners refusing to sell below fiat/btc cost) - mining costs are essentially a floor at the moment. there are many theories of course. regardless, people are going against alt coins for the wrong reasons. it's purely a "business decision" where if profit > cost or opportunity cost than you do something. 100mh (effectively 100gh in sha-2) mining is going for 10k. there's obviously higher margins there for the time being. Price for bitcoins went up right around when they got more media publicity and the US senate hearings about bitcoins, etc. The overall movement of BTC around the bitcoin economy in a given day is far larger than the amount of coins mined in a given day, so miners have only a minimal impact on bitcoin exchange rates. It all just goes back to supply and demand. In regards to scrypt ASICs... let's just focus on getting gen3 out into the market and make some profit off that. I'd say the next priority after that should be gen4, presumably on a 22-28nm process, which should stay profitable for a longer time, as the easy gains of process size will then be behind us and bitcoin miner ASIC process size will then only advance at the pace of technological advance, rather than doing the super quick catch up from nothing to current technology levels that we've seen over the past year. |
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jimmothy
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March 20, 2014, 12:47:16 AM |
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Did you see kncminers new 100mh scrypt miner? $0.1/kh cant beat that. |
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vortex1878
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March 20, 2014, 12:54:10 AM
Last edit: March 20, 2014, 04:37:15 PM by vortex1878 |
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Did you see kncminers new 100mh scrypt miner? $0.1/kh cant beat that. Nope. I don't wanna burn my house down with vaporware. Anyway I should ignore anything a mongo troll like you is posting, fucktard. Facepalm to myself reading you. Ouch. |
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jimmothy
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March 20, 2014, 01:01:11 AM |
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Did you see kncminers new 100mh scrypt miner? $0.1/kh cant beat that. Nope. I don't wanna burn my house down with vaporware. Anyway I should ignore anything a mongo troll like you is posting, fucktard. Facepalm to myself reading you. Ouch. I'm sorry if the news bothers you but no need to go off like that. Fact is that gpus are going to need to find a new algorithm/coin to mine when these scrypt asics hit. |
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vortex1878
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March 20, 2014, 01:06:00 AM |
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Did you see kncminers new 100mh scrypt miner? $0.1/kh cant beat that. Nope. I don't wanna burn my house down with vaporware. Anyway I should ignore anything a mongo troll like you is posting, fucktard. Facepalm to myself reading you. Ouch. I'm sorry if the news bothers you but no need to go off like that. Fact is that gpus are going to need to find a new algorithm/coin to mine when these scrypt asics hit. LÖL. No news are bothering me at all. Just your mongoloidness. Great that you prove it again. Might wanna shut up for the sake of us all?  |
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jimmothy
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March 20, 2014, 01:07:47 AM |
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LÖL. No news are bothering me at all. Just your mongoloidness. Great that you prove it again. Might wanna shut up for the sake of us all? Why are you so mad? |
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chriswilmer
Legendary
Offline
Activity: 1008
Merit: 1000
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March 20, 2014, 01:08:40 AM |
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Guys, take it to another thread. By BitcoinTalk forum standards the AM thread is a place of fairly civil discourse.
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