ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 566.

lame.duck

legendary

Activity: 1270

Merit: 1000

Quote from: Jutarul on November 28, 2013, 12:41:25 AM

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.

jimmothy

hero member

Activity: 770

Merit: 509

Quote from: JimiQ84 on November 28, 2013, 05:58:19 AM

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 Grin

)

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.

JimiQ84

sr. member

Activity: 406

Merit: 250

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 Grin

)

Voodah

sr. member

Activity: 266

Merit: 250

Quote from: romerun on November 28, 2013, 03:39:27 AM

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?

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

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.

Zubilica

hero member

Activity: 837

Merit: 1000

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.

bitcoin.newsfeed

sr. member

Activity: 378

Merit: 250

Quote from: gaba on November 27, 2013, 11:46:02 PM

Quote from: friedcat on September 24, 2013, 01:36:29 AM

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 Huh

You Litecoin evangelist are simply destroying Bitcoin for personal gains. Period.

Jutarul

donator

Activity: 994

Merit: 1000

Quote from: Voodah on November 28, 2013, 01:47:35 AM

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).

Voodah

sr. member

Activity: 266

Merit: 250

Quote from: Jutarul on November 28, 2013, 01:26:45 AM

Quote from: gaba on November 28, 2013, 12:50:12 AM

Quote from: Jutarul on November 28, 2013, 12:41:25 AM

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

donator

Activity: 994

Merit: 1000

Quote from: gaba on November 28, 2013, 12:50:12 AM

Quote from: Jutarul on November 28, 2013, 12:41:25 AM

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.

gaba

sr. member

Activity: 249

Merit: 250

Quote from: Jutarul on November 28, 2013, 12:41:25 AM

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/

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: superduh on November 28, 2013, 12:25:41 AM

Quote from: empoweoqwj on November 28, 2013, 12:23:46 AM

Quote from: gaba on November 27, 2013, 11:46:02 PM

Quote from: friedcat on September 24, 2013, 01:36:29 AM

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.

Jutarul

donator

Activity: 994

Merit: 1000

Quote from: gaba on November 27, 2013, 11:46:02 PM

Quote from: friedcat on September 24, 2013, 01:36:29 AM

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.

superduh

hero member

Activity: 602

Merit: 500

Quote from: empoweoqwj on November 28, 2013, 12:23:46 AM

Quote from: gaba on November 27, 2013, 11:46:02 PM

Quote from: friedcat on September 24, 2013, 01:36:29 AM

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.

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: gaba on November 27, 2013, 11:46:02 PM

Quote from: friedcat on September 24, 2013, 01:36:29 AM

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

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

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://bitcointalksearch.org/topic/m.2175763

gaba

sr. member

Activity: 249

Merit: 250

Quote from: friedcat on September 24, 2013, 01:36:29 AM

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.

binaryFate

legendary

Activity: 1512

Merit: 1012

Still wild and free

Quote from: Whtwabbit on November 27, 2013, 10:43:56 PM

Anyone good with a calculator that can workout how much TH/s one of those containers with the new proposed chips would pump out. It would be interesting to know how many containers would be needed to capture 10%-20% of the market again (at this difficulty rate anyway)

Somebody did an estimation recently, if the cointainer was filled with KnC chips (that are not particularly efficient for being 28nm, bitfury ones are better) it would spit ~600TH/s (if I remember well). Cannot find that post again...

Whtwabbit

sr. member

Activity: 490

Merit: 266

Anyone good with a calculator that can workout how much TH/s one of those containers with the new proposed chips would pump out. It would be interesting to know how many containers would be needed to capture 10%-20% of the market again (at this difficulty rate anyway)

DiabloD3

legendary

Activity: 1162

Merit: 1000

DiabloMiner author

Is friedcat no longer responding to PMs?

Over the past month I've sent him requests to send direct shares to other people (part of the DMC shutdown), and 2 people havent gotten there shares and he hasnt responded to 2 requests for confirmation of what shares DMC still has and if those shares indeed have been sent.

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 566. (Read 3917468 times)