Topic: ASIC BFL. is the end of the BTC? (Read 1158 times)
no, in fact, is a jump, changing for the bt .....
Maybe good for alt coins?
Yes this is the end of the BTC, please uninstall the client and delete your wallet.dat 
RAM requirements. That is why: LTC(or any other scipt base currency)>BTC
Since when there can't be ASIC for LTC? Yes this is the end of the BTC, please uninstall the client and delete your wallet.dat
That is why: LTC(or any other scipt base currency)>BTC
Since when there can't be ASIC for LTC? Since GPUs are pretty much perfect for LTC mining. FPGAs and ASICs would be insanely expensive compared to just getting an array of GPUs to mine. In technical terms, scrypt is heavily reliant on FAST and I mean FAST memory which you cannot get cheaply in FPGAs and ASICs unlike specialized processors. I think even CPUs would be more cost-effective than FPGA/ASIC but whatever
Nope. It makes bitcoin stronger and more valuable. The more someone has to invest in creating the coins, the less they'll be willing to part with those coins on the cheap, therefore the value rises. ASICs are definitely a good thing for Bitcoin.
My thoughts exactly.
I agree with both of you, and it also helps that I have one coming in the mail soon! *crosses fingers*
I'm in the same boat as you, pal. CPU based crypto is immune to the ASIC tech correct?
No such thing. SHA-256 is "CPU based", but it just happens that GPUs are good at mining it.However, hashing algorithms with a RAM requirement are resistant to Application Specific devices, because it would require more than just a chip.
Nope. It makes bitcoin stronger and more valuable. The more someone has to invest in creating the coins, the less they'll be willing to part with those coins on the cheap, therefore the value rises. ASICs are definitely a good thing for Bitcoin.
My thoughts exactly.
I agree with both of you, and it also helps that I have one coming in the mail soon! *crosses fingers*
That is why: LTC(or any other scipt base currency)>BTC
Nope. Scrypt currencies are for the greedy. They are designed for easy mining.You missed the CPU and GPU Bitcoin mining train, and you like Litecoin because you want to mine a currency. Even though Litecoin is almost useless and seldom accepted.
The ASICs are the future, and allow for even more decentralization of the network. They put more hashing power into the miners (which is good for them), and cause transactions to be verified with more power (which is good for the average user).
The little miner is down. and only powerfull could be., or not?
wut?
didn't get it neither....
CPU based crypto is immune to the ASIC tech correct?
Gonna be interesting to see the difficult shoot up exponentially.
The little miner is down. and only powerfull could be., or not?
wut?
Are these things actually being shipped?
Yes, Avalon has shipped their first batch of ASICs. They have 2 more batches coming down the pike.BFL has begun sprinkling baby ASICs. (Jalapeno = 5'ish Gh/s) Mostly to developers, some "media", and apparently some customers, but not sure. Not many have gone out, but they're claiming they'll ramp up production and start shipping more and larger units.
....
When ASIC reach a cheaper point and everyone can get one then theres next step in BTC. But the Difficult will only increase, pretty similar to the jump CPU>GPU mining.
Right now GPU miner won't drop, if they do the difficult would go down and GPU miner who don't drop will have more BTC.
...
When GPU miners drop out of the network en masse, their cumulative hash power will likely be a drop in the bucket in comparison to the widespread ASICs, so difficulty won't drop enough for much of a change in profitability for lingering GPU miners.When ASIC reach a cheaper point and everyone can get one then theres next step in BTC. But the Difficult will only increase, pretty similar to the jump CPU>GPU mining.
Right now GPU miner won't drop, if they do the difficult would go down and GPU miner who don't drop will have more BTC.
...
I do agree, however, that we will see a similar type of shift as you point out with CPU>GPU mining. With the only difference, and certainly a considerable difference, being that the ASICs aren't as easily re-purposed and sold (if at all) for recuperative costs. All profits are left up to the performance the ASIC had earned.
Are these things actually being shipped?
I don't think so.
Soon there will be ASIC (probably not so soon the BFL ASIC's) but that doesn't mean that GPU mining wouldn't be profitable.
When ASIC reach a cheaper point and everyone can get one then theres next step in BTC. But the Difficult will only increase, pretty similar to the jump CPU>GPU mining.
Right now GPU miner won't drop, if they do the difficult would go down and GPU miner who don't drop will have more BTC.
Well that's what I think.
Soon there will be ASIC (probably not so soon the BFL ASIC's) but that doesn't mean that GPU mining wouldn't be profitable.
When ASIC reach a cheaper point and everyone can get one then theres next step in BTC. But the Difficult will only increase, pretty similar to the jump CPU>GPU mining.
Right now GPU miner won't drop, if they do the difficult would go down and GPU miner who don't drop will have more BTC.
Well that's what I think.
I haven't seen an asic able to produce a phiscyial btc yet though!
Dont see it being the end...
What can you do for get BTC in the near future...nothing my friend. Time to time.
Do something to earn it. Sell a product or service. What do you do to get money now?
The sooner people, as a whole, stop looking at mining as the only means to making BTC the better. This type of effortless 'mine and find' mentality is discouraging to merchants' willingness to accept BTC; only adding to the treatment of it as a volatile store of wealth instead of a valid form of currency. Want more BTC and a stronger, more valuable BTC market? Ask to be paid in BTC or offer something someone wants in exchange for it. Still waiting for hookers with QR codes tattooed on their ass. Maybe you want to look into that?
BOT: For the time being, yes, ASIC may be out of the reach of some due to financial restraint or simply coming too late to the game, but at some point there will be opportunities for those individuals to get a slice of the pie. This professional mining market is essentially in the fetal stage, and you should expect to see more approachable products, and particularly services that we haven't yet seen, from new emerging businesses and entrepreneurs. Just have to give it time. Until then, get out on that street corner and make some damn coin!
What can you do for get BTC in the near future...nothing my friend. Time to time.
Do something to earn it. Sell a product or service.
What do you do to get money now?
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