How do people like this think their smart? Like is their an over 18 rule on this forum?
I like how you misspelled "they're/there" twice while complaining about someone else's intelligence.
Topic: ASICS killing BTC ? - page 7. (Read 15908 times)
I like how you misspelled "they're/there" twice while complaining about someone else's intelligence.
LTC is looking very strong right now. Holding its USD value as BTC falls.
Bitcoin is falling because companies are cashing out large amounts of invested BTC to USD produce tangible products, i.e. ASIC. LTC is holding value the same way my monopoly money is holding value, no one cares what it is worth unless you are in the game.
Can you state your source? Which companies are cashing out?
Also, I imagine that those that aren't involved in some way with Bitcoin don't really care what it's worth either.
LTC is looking very strong right now. Holding its USD value as BTC falls.
Bitcoin is falling because companies are cashing out large amounts of invested BTC to USD produce tangible products, i.e. ASIC. LTC is holding value the same way my monopoly money is holding value, no one cares what it is worth unless you are in the game.
LTC is looking very strong right now. Holding its USD value as BTC falls.
+1
Once you have one, you never have a reason to turn it off. It's extremely unlikely that they will hit a point where they cost more to run than they generate at 2.5w each.
Is it really true, did anybody make the calculations considering exponential growth of difficulty?
I wouldn't like to have one of my laptop's usb ports busy if it doesn't generate any significant amount of bitcoins (and consumes energy that costs something too).
I don't see ASICs killing BTC. There's a growth problem right now. ASICs start expensive and get cheaper. As a result, you see an early concentration. This is why I'm very happy with ASICMINER's cheaper price point for the USB Erupters.
They are not a great investment. There's still a reasonable chance that even at 1 BTC they will not make a full return on the investment. But there is a chance. Meanwhile, they're an extremely low barrier to entry mining device. 330 MH/s isn't a lot in the scheme of things...until you have tens of thousands of them distributed all over like we do today. BTC Guild alone has sold over 2,000 in 5 days.
Once you have one, you never have a reason to turn it off. It's extremely unlikely that they will hit a point where they cost more to run than they generate at 2.5w each. They're a small step towards decentralization, and you can expect as ASICs mature there will continue to be more low level offerings. They won't have the RoI of the bigger units, but they will help keep the hash rate from being fully concentrated in massive mining farms.
They are not a great investment. There's still a reasonable chance that even at 1 BTC they will not make a full return on the investment. But there is a chance. Meanwhile, they're an extremely low barrier to entry mining device. 330 MH/s isn't a lot in the scheme of things...until you have tens of thousands of them distributed all over like we do today. BTC Guild alone has sold over 2,000 in 5 days.
Once you have one, you never have a reason to turn it off. It's extremely unlikely that they will hit a point where they cost more to run than they generate at 2.5w each. They're a small step towards decentralization, and you can expect as ASICs mature there will continue to be more low level offerings. They won't have the RoI of the bigger units, but they will help keep the hash rate from being fully concentrated in massive mining farms.
This. Those USB thingies are the real deal in terms of BTC decentralization. Plus, they are absolutely the best way to "spread the Bitcoin word".
While bitcoin was cpu, or at least gpu bound it was in it's most decentralized form.
There was still the threat of botnets.
Good point.
I wonder how hard is it to spot that your GPU is part of the botnet
Also how big are these botnets these days?
I think the unguided may kill the BTC like the Liberty Reserve before.
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You need to find better translation software. What's your native language?
Hey, I've been wondering, Litecoins are not immune to ASIC mining, they just need ASICs with a whole lot of memory to do it, meaning they would be way more complex and expensive. Once Litecoin goes up in value to the point where it would be worth it to invest in Litecoin ASICs, won't Litecoin become even more centralized, just because Litecoin ASICs will be very expensive to own and owned by a select few wealthy types, compared to Bitcoin, for which ASICs are dirt cheap (after initial design expense)? Right now it seems like Litecoins are more decentralized, but I fear eventually Bitcoin miners to Litecoin miners will be like Honda owners to Ferrari owners.
YOU SAY ASIC is just a form of packaging, very good. I think the problem is not on packaging method used. It must be on some people...
I think the unguided may kill the BTC like the Liberty Reserve before.
It does not care about the packaging you used as ASIC is a method to pack your needed as there is no way to block something completely like combat. I have read news. For example,The PRISM may be abused by some people even the starting point is reasonable.
Remember, ASIC is not so powerful than expected. ASIC only concertrate on one purpose which are stable and reuseable. I currently am reading about the design, In 2-step SHA256 case, the sellers put the simple circult as L-U decoder based on software written. packaged in smaller size (28nm or even smaller), connect so many to speed up as the design is heavily connected with software and hardware like professional soundcards.
I have studied DSP before. I may have some clues about the usages that I have to find another way when the competitions...!
ASICS not killing BTC, the banker, or government can kill BTC.
It does not care about the packaging you used as ASIC is a method to pack your needed as there is no way to block something completely like combat. I have read news. For example,The PRISM may be abused by some people even the starting point is reasonable.
Remember, ASIC is not so powerful than expected. ASIC only concertrate on one purpose which are stable and reuseable. I currently am reading about the design, In 2-step SHA256 case, the sellers put the simple circult as L-U decoder based on software written. packaged in smaller size (28nm or even smaller), connect so many to speed up as the design is heavily connected with software and hardware like professional soundcards.
I have studied DSP before. I may have some clues about the usages that I have to find another way when the competitions...!
ASICS not killing BTC, the banker, or government can kill BTC.
While bitcoin was cpu, or at least gpu bound it was in it's most decentralized form.
There was still the threat of botnets.
And universities using their idle supercomputer resources. Oh, and the that of someone who wanted to destroy Bitcoin making ASICs in private, instead of selling them to dedicated bitcoiners.
Greed will kill ASICS by end of 2013... Bitcoin hijackers will be eating their chips.
http://bitcoinnews.io/dan-kaminsky-predicts-the-end-of-the-current-proof-of-work-function/
http://bitcoinnews.io/dan-kaminsky-predicts-the-end-of-the-current-proof-of-work-function/
I think Mr Kaminsky really screwed up in this prediction. Miners have way too much invested to switch from the current function, it will be nearly impossible to build up an alternative mining infrastructure that can be as secure as the current one quickly enough to just switch to it, and besides, Gavin has absolutely no interest in switching the algorithm, either. He specifically said so when asked about that article.
Greed and ASICs are killing Bitcoin.
Greed will kill ASICS by end of 2013... Bitcoin hijackers will be eating their chips.
http://bitcoinnews.io/dan-kaminsky-predicts-the-end-of-the-current-proof-of-work-function/
Hey, I've been wondering, Litecoins are not immune to ASIC mining, they just need ASICs with a whole lot of memory to do it, meaning they would be way more complex and expensive. Once Litecoin goes up in value to the point where it would be worth it to invest in Litecoin ASICs, won't Litecoin become even more centralized, just because Litecoin ASICs will be very expensive to own and owned by a select few wealthy types, compared to Bitcoin, for which ASICs are dirt cheap (after initial design expense)? Right now it seems like Litecoins are more decentralized, but I fear eventually Bitcoin miners to Litecoin miners will be like Honda owners to Ferrari owners.
I do not agree. Litecoins are in technicality ASIC mineable but in reality there is no point. To build an ASIC that would mine scrypt well would be to get near or even exceed the cost of using a GPU to do the same thing. So you could build a scrypt ASIC but it would not make sense. In the end you would have an item that could not do anything else and it would have low resale value.
That isn't true. It isn't true even with full strength scrypt but the point is moot as the scrypt used in Litecoin was intentionally weakened significantly (2^10, 1, 1). It is more than 100x less memory hard than the default for low security applications (2^14, 8, 1) and closer to 8000x less memory hard then what is recommended for high security applications (2^20, 8, 1).
While bitcoin was cpu, or at least gpu bound it was in it's most decentralized form.
There was still the threat of botnets.
If people were so worried about the value of all over btc to fiat the the guys like friedcat should take fiat as payment. At some point they have to dump large amounts of btc to pay foundrys. Shippers. Workers etc. Those people I'm sure aren't going to accept btc. So why not just protect btc and sell your devices for a fair fiat price
While bitcoin was cpu, or at least gpu bound it was in it's most decentralized form.
Seems that ASICS is have a detrimental impact on BTC.
(1) A huge amount of hashing power is now in the hands of companies that can stamp out one set of chips after another. Few seem to make it to retail (i.e. BFL)
(2) Most of the former GPU miners, once a large support base for the coin, have lost interest due to the BFL fiasco and the fact Avalon shipped only a tiny number of retail devices
(3) Concentration of network power in the hands of a few is a disaster. Precisely the opposite of what BTC was supposed to be all about
(4) Raw gh/s figures are irrelevant given that only a tiny number of firms have ASICS designs. THESE COMPANIES NOW EFFECTIVELY CONTROL THE NETWORK
LTC is looking very strong right now. Holding its USD value as BTC falls.
The two may meet in the middle
(1) A huge amount of hashing power is now in the hands of companies that can stamp out one set of chips after another. Few seem to make it to retail (i.e. BFL)
(2) Most of the former GPU miners, once a large support base for the coin, have lost interest due to the BFL fiasco and the fact Avalon shipped only a tiny number of retail devices
(3) Concentration of network power in the hands of a few is a disaster. Precisely the opposite of what BTC was supposed to be all about
(4) Raw gh/s figures are irrelevant given that only a tiny number of firms have ASICS designs. THESE COMPANIES NOW EFFECTIVELY CONTROL THE NETWORK
LTC is looking very strong right now. Holding its USD value as BTC falls.
The two may meet in the middle
How do people like this think their smart? Like is their an over 18 rule on this forum?
They have ruined my personal experience of bitcoin.. but thats more to do with BFL than asics. I wish i had spent my money on GPUs 15 months ago and not pre ordered with BFL. I think by the time i do get my asic it will be a long wait t get ROI.
Asics have defiantly changed the game, not sure if for the better or worse yet though. Maybe we will see more specialised hardware for LTC soon, I just hope it's not from BFL.
Asics have defiantly changed the game, not sure if for the better or worse yet though. Maybe we will see more specialised hardware for LTC soon, I just hope it's not from BFL.
Hey, I've been wondering, Litecoins are not immune to ASIC mining, they just need ASICs with a whole lot of memory to do it, meaning they would be way more complex and expensive. Once Litecoin goes up in value to the point where it would be worth it to invest in Litecoin ASICs, won't Litecoin become even more centralized, just because Litecoin ASICs will be very expensive to own and owned by a select few wealthy types, compared to Bitcoin, for which ASICs are dirt cheap (after initial design expense)? Right now it seems like Litecoins are more decentralized, but I fear eventually Bitcoin miners to Litecoin miners will be like Honda owners to Ferrari owners.
I do not agree. Litecoins are in technicality ASIC mineable but in reality there is no point. To build an ASIC that would mine scrypt well would be to get near or even exceed the cost of using a GPU to do the same thing. So you could build a scrypt ASIC but it would not make sense. In the end you would have an item that could not do anything else and it would have low resale value.
That isn't true. It isn't true even with full strength scrypt but the point is moot as the scrypt used in Litecoin was intentionally weakened significantly (2^10, 1, 1). It is more than 100x less memory hard than the default for low security applications (2^14, 8, 1) and closer to 8000x less memory hard then what is recommended for high security applications (2^20, 8, 1).
(4) Raw gh/s figures are irrelevant given that only a tiny number of firms have ASICS designs. THESE COMPANIES NOW EFFECTIVELY CONTROL THE NETWORK
AMD is the only manufacturer with a GPU design that has 3,200 ALUs, in addition to having BIT_ALIGN_INT. Therefore, ONE COMPANY (AMD) EFFECTIVELY CONTROLS THE LITECOIN NETWORK
[see what I did there?]
I see that..
-Nvidia could have and should have been there, if it were not for the lack of driver support
-AMD gpus are and have been readily available, WORLD WIDE
-TMSC founderies is a monopoly
Asics and the greedy that pre ordered them, have likely damaged BTC beyond repair as I seriously doubt the masses will buy into this USB'd pipe dream for another round.
Some call it, 'the asic scam'. I say its Bitcoin's 2nd premine.
HT xD
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