Topic: [ANN][EMC2] Einsteinium | FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY - page 432. (Read 1076396 times)

This would require a fork its a new set of algorithms.

There are a few reasons to switch. One I think is there is very much a perspective from average miners of difficulty to enter into mining with large scale ASICs. They tend to flood out those who are mining either via GPU or CPU. When one is trying to develop a broader community, and frankly market for a coin, the existence of large scale ASICs can in fact quickly kill this. When a critical point to longevity of a coin is building a strong community around a coin, having a barrier of entry which is accessible is critical. While there are still larger GPU farms out there, it does not necessarily match how quickly things can escalate with ASIC technology that pushes people out and away from participating directly. Introducing new people into the coin and community critical. Again what eventually happens is a small number of people end up dominating a coin with ASICs, largely those who can afford the high costs of large ASIC equipment. I am not sure introducing ASIC resistance would further reduce hash rates either, right now if anything there is movement towards the ASIC resistant coins. While it may move some ASIC miners off, it will also likely attract new miners as well, if anything the situation will likely be a wash, but possibly a gain.


In terms of network integrity, this is a big advantage with the x11 infrastructure, it has higher hash rates and lower power usage, without necessarily the problematic economics that large scale ASICs brings in. So you can end up having a better infrastructure, without necessarily pushing out smaller miners. That is why many are putting it forth as the preferred alternative.

In terms of the current hash rates, they have grown over the last two weeks, and this is not a pump and dump coin, so organic growth is generally beneficial. A rapid bump up to a high network hash rate that larger scale ASICs may bring in can be seen as unhealthy for the coins longevity, from both a market and community perspective. Bitcoin was not hurt by the ASICs, but smaller SHA coins early in their lifecycle were.

Right now the current generation scrypt ASICs do not present these issues, but the upcoming ones do present some significant problems. That is why it is necessary to discuss possibly forking the currency at some point, because these issues will eventually present themselves.

I will be honest, the more I find out about x11 personally, the more I like it.

Again, I am not speaking for the foundation in this. It's just my own opinion and analysis.

I agree with you. The network is having trouble as it sits now staying above 1Gh, eliminating those of of us like myself who do use scrypt asics to mine this will only further reduce it. I'm sure Devs will make the right decision, hopefully they also look at all options to solve the problem aside from changing the algo. Just a thought, what if it took 2-3 weeks for a mined block to mature. Not proof of stake but could force people to have a vested interest and not mine and dump immediately. I have enough emc2 saved up for long-term holding I will come out ok regardless if I can keep mining it. As opposed to a lot of other coins out there it is great to see the scientific value here.

Hopefully it's back up soon.

Just to let everyone know Lifeforce.info is experiencing technical issues and it may be some hours till we're back online again. We will be doing a juicy bonus when we return. Apologies for any inconvenience caused.

Just so I let everybody know, the topic has come up within the foundation regarding whether to take on a new algorithm or not. We are always listening to the community and it's concerns. Nothing is decided on the matter though.

Fingers crossed!  Reduce heat, increase hash, reduce power, increase ASIC resistance, keep ease of use.  I am able to netflix smoothly while hashing x11.  Temps went from 77/78 with fans nearly 100% to 50/52 with fans set at 85% just to further reduce the heat into my apartment. I don't know the downsides, but there appear to be many upsides.  Not to mention the fact that masses will soon have to figure out what to do with their GPU rigs.  Being a small miner myself, I couldn't help but explore the possibilities.  Power is not free.  Is mining over for GPUs?  I think not.  We may see another explosion in a new algorithm just like we saw with scrypt and litecoin last year.  And as far as being ASIC proof, my understanding is that nothing is truly ASIC proof.  Vertcoin themselves made it clear they may have to change in the future to keep that promise of being ASIC proof. The decision cannot be easy, but from this perspective, having a successful fork towards an x11 POW will put EMC2 well ahead of the curve right now.  It is guaranteed that miners will switch just because of this hot/cool new algorithm.  

I must be the only one here thankful for asics and not wishing anything but scrypt....

+1 for new algo   or asic gonna kill us,too low volume right now for handle this new player

x11 sounds legit

I want you all to know we are considering a different algorithm internally. My vote is x11 so those that agree with me keep your fingers crossed.

Yes it will be wise to begin exploring this now, as ASICs will begin trickling onto the scene very soon ...

Just made some ridiculous money off of Bones, now buying more EMC2. Price is nice and low

Great coin and community!!! I'm telling all my friends about this movement and voting every hour on mintpal...

very good pool man.. ı am use and so fast poool thanks enjoy and start mine

Hey, fellow science lovers, don't forget to vote for your favorite project! http://einsteinium.org/nominations/ Registration is fast and simple, no email confirmations are needed anymore! Only 2 more days left!

Nice !!

Don't stop to vote  

We are also moving up on cryptorush voting (number 6), so there may be a chance we get listed there in the next week. Looking at mintpal it is still a ways off, cryptorush can happen very soon.

Moving up in the voting at MintPal due to a .3 BTC donation it looks like