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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 454. (Read 3917591 times)

hero member
Activity: 770
Merit: 509
Funny that nobody is looking at the efficiency of the Scrypt ASICs. I am still going very well with my 7970s compared to all Scrypt ASCICs offered now.

Friedcat stated clearly why ASICMINER will not go for the manufacturing of SCRYPT ASICs.

https://bitcointalksearch.org/topic/m.3222593

Did you see kncminers new 100mh scrypt miner? $0.1/kh cant beat that.
hero member
Activity: 491
Merit: 500
Funny that nobody is looking at the efficiency of the Scrypt ASICs. I am still going very well with my 7970s compared to all Scrypt ASCICs offered now.

Friedcat stated clearly why ASICMINER will not go for the manufacturing of SCRYPT ASICs.

https://bitcointalksearch.org/topic/m.3222593
sr. member
Activity: 420
Merit: 250
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.
member
Activity: 117
Merit: 10
hmmm 00:00 in my country right now, do we have 1st week without dividend ? Undecided Board, any info for heads up? Whats happening?  Undecided

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.
sr. member
Activity: 378
Merit: 250
hmmm 00:00 in my country right now, do we have 1st week without dividend ? Undecided Board, any info for heads up? Whats happening?  Undecided
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
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 Tongue
hero member
Activity: 602
Merit: 500
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.
KS
sr. member
Activity: 448
Merit: 250
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??
hero member
Activity: 770
Merit: 509
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.
hero member
Activity: 602
Merit: 500
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.
hero member
Activity: 770
Merit: 509
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.
legendary
Activity: 1106
Merit: 1026
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.
sr. member
Activity: 378
Merit: 250
No dividend yet? Weird...

aaaaand no update too Sad maybe they're updating to 0.9 ... but what about that deleted update ... something happened, again Sad

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.
vip
Activity: 198
Merit: 101
No dividend yet? Weird...
hero member
Activity: 602
Merit: 500
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.
hero member
Activity: 756
Merit: 500
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!
full member
Activity: 163
Merit: 100
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

What about the rubber covered wheel
legendary
Activity: 2128
Merit: 1005
ASIC Wannabe
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
sr. member
Activity: 302
Merit: 250
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.

OTOH, sales dividends will be converted to BTC from fiat.  The lower BTC is at that (those) times, the higher the BTC return will be.  Mining doesn't care. So let's see Gen3 batch 1 deployed before driving BTC price up too fast  Cool 

This - also because share price tends to have downward pressure during rapid BTC appreciation.
KS
sr. member
Activity: 448
Merit: 250
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.
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