The hashrate is down because the block reward halved.
And it's been quite stable, considering the recent drop in value; that's encouraging.
Topic: Dogecoin tips itself to oblivion? - page 2. (Read 2885 times)
The hashrate is down because the block reward halved.
And it's been quite stable, considering the recent drop in value; that's encouraging.
The hashrate is down because the block reward halved.
But how would it die?
No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it. The most obscure shitcoins from a year ago are still going strong.
Do you actually believe this? There are many coins with a passionate dev group and a longer history than Dogecoin that will never ever be anything more than bits on a hard drive, nothing more than an archive of broken dreams and lost promise.
Dogecoin can drop so low in volume and market cap that it will never draw the interest of anyone anywhere. If it does, you will not revive that dead shibe.
You can't kill the passion and energy of tens of thousands of shibes; Dogecoin will not die.
But how would it die?
No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it. The most obscure shitcoins from a year ago are still going strong.
Do you actually believe this? There are many coins with a passionate dev group and a longer history than Dogecoin that will never ever be anything more than bits on a hard drive, nothing more than an archive of broken dreams and lost promise.
Dogecoin can drop so low in volume and market cap that it will never draw the interest of anyone anywhere. If it does, you will not revive that dead shibe.
Could you enlighten us as to just how you think Litecoin might be an exception, being a scrypt coin itself? What objective data might you see to argue that exception?
Because the Litecoin hash rate will dwarf that of the other coins to the point where it only takes 1% of LTC hash to move somewhere else to fork other coins that compete with it. At this point, there will be no big money in any of these other coins due to how insecure they are. This is already starting with Dogecoin now. Coins like Worldcoin, Digitalcoin, Digibyte, etc will all be obliterated to a much worse extent, it's only a question of how long.
For now Litecoin wins indeed, but this may very well change, because Litecoin basically offers nothing new over BTC, and its community is not as good as that of many of its competitors.
Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.
This is false. People ROI with antminers and other equipment all the time, it's mostly preorders getting burned. Many people are even starting to ROI gridseeds that bought them early.
As you said, those "that bought early" have a decent chance - 6 to 10 months average - and with that select group, my statement COULD turn out to be false.
However, I'm referring to "the vast majority", and that obviously includes all those buying now and in the future. ASIC may be "profitable" today on a current data, simpleton, straight line projection analysis, but, unfortunately for those buying now and in the future, the difficulty to mine will increase exponentially in line with the introduction of mass use of ASIC. Forget it. It'll be all over by September - ASIC won't even be profitable on a simple variable cost only basis by then - much less factoring in a return on your hardware investment!
That's true only for the people that sell instantly. Mining and holding may very well be profitable in the long-term.
Of course, simply buying and holding the coin might be more profitable, but that does not give the satisfaction of protecting the network of a coin you like.
And some machines offer 1mh/s for only 140$, which is quite affortable for everyone; mining centralisation is not a threat yet imho.
back to 30 satoshi, then reverse
Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.
This is false. People ROI with antminers and other equipment all the time, it's mostly preorders getting burned. Many people are even starting to ROI gridseeds that bought them early.
As you said, those "that bought early" have a decent chance - 6 to 10 months average - and with that select group, my statement COULD turn out to be false.
However, I'm referring to "the vast majority", and that obviously includes all those buying now and in the future. ASIC may be "profitable" today on a current data, simpleton, straight line projection analysis, but, unfortunately for those buying now and in the future, the difficulty to mine will increase exponentially in line with the introduction of mass use of ASIC. Forget it. It'll be all over by September - ASIC won't even be profitable on a simple variable cost only basis by then - much less factoring in a return on your hardware investment!
ASICS coming out are going to destroy litecoin and dogecoin IMHO.
I don't think you know what you're talking about. ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor, maybe a few PoS coins too just like how Peercoin still survives in the BTC network. KNC, Ghash, etc, will all be building scrypt ASIC farms and the amount of hash power and size of network will start to rival that of BTC. Once that occurs, in a rational world, the price of LTC should increase, while BTC goes down, but I think both will probably go up due to the upward pressure BTC has as first in the business.
Anybody can own scrypt asics, not just big mining farms. The new asics will still be as evenly distributed as they are now when the faster ones will be released this summer, because KNC and the others would profit more by selling their miners than by mining with them.
when the price will be too prohibitive for normal customers, only few will mine with them, like what happened with btc asic
Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.
This is false. People ROI with antminers and other equipment all the time, it's mostly preorders getting burned. Many people are even starting to ROI gridseeds that bought them early.
Anybody can own scrypt asics, not just big mining farms. The new asics will still be as evenly distributed as they are now when the faster ones will be released this summer, because KNC and the others would profit more by selling their miners than by mining with them.
Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.
The only people who will make money on this "scam" are the ASIC manufacturers.
. . . ahem, charging in BTC, and then (for obvious reasons since the raw materials, fixed and variable production costs, etc., etc., are paid in USD) selling that BTC for USD . . .
You're better off simply buying BTC, and forgetting about trying to mine altogether.
. . . unless you're mining and buying one of the altcoins of the future that hold true to the crypto ethic . . .
Could you enlighten us as to just how you think Litecoin might be an exception, being a scrypt coin itself? What objective data might you see to argue that exception?
Because the Litecoin hash rate will dwarf that of the other coins to the point where it only takes 1% of LTC hash to move somewhere else to fork other coins that compete with it. At this point, there will be no big money in any of these other coins due to how insecure they are. This is already starting with Dogecoin now. Coins like Worldcoin, Digitalcoin, Digibyte, etc will all be obliterated to a much worse extent, it's only a question of how long.
ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor . . .
Could you enlighten us as to just how you think Litecoin might be an exception, being a scrypt coin itself? What objective data might you see to argue that exception?
ASICS coming out are going to destroy litecoin and dogecoin IMHO.
I don't think you know what you're talking about. ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor, maybe a few PoS coins too just like how Peercoin still survives in the BTC network. KNC, Ghash, etc, will all be building scrypt ASIC farms and the amount of hash power and size of network will start to rival that of BTC. Once that occurs, in a rational world, the price of LTC should increase, while BTC goes down, but I think both will probably go up due to the upward pressure BTC has as first in the business.
Anybody can own scrypt asics, not just big mining farms. The new asics will still be as evenly distributed as they are now when the faster ones will be released this summer, because KNC and the others would profit more by selling their miners than by mining with them.
ASICS coming out are going to destroy litecoin and dogecoin IMHO.
I don't think you know what you're talking about. ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor, maybe a few PoS coins too just like how Peercoin still survives in the BTC network. KNC, Ghash, etc, will all be building scrypt ASIC farms and the amount of hash power and size of network will start to rival that of BTC. Once that occurs, in a rational world, the price of LTC should increase, while BTC goes down, but I think both will probably go up due to the upward pressure BTC has as first in the business.
Iit had a few things to teach to others. LTC in particular still didn't get the lesson and probably will never do.
Yep.
Liquidating alts into BTC to sell for fiat. Seen this happen many times when BTC rises.
Worse yet! (and, yes, understood, that makes sense, but, as I said, that's worse yet, and further undermines your argument).
mine those coins into oblivion by immediately
Ever heard of difficulty?To that I reply what may sound like an idiotic ever heard of ASIC? Really, flound, I can't believe I'm hearing this from one of the most important pool operators around. ASIC cuts scrypt power costs by what? Over 900%? Said another way, ASIC mining variable costs are 1/10 that of GPU mining? (That's just to throw out low-ball figures - the high end is around 1/20th the cost, so get ready.) "Ever heard of difficulty?" Are you serious? At a 1/10 cost to mine, difficulty could rise 10 fold and the ASICs would still be profitable!!!! Where do you think the widely distributed user base and secure network will be by then? 99% of scrypt coins are currently NOT PROFITABLE using GPU, *ALREADY*, and price isn't rising. Why do you think that is happening? You think those coins will be able to recover after the ASIC demolition? You're dreaming pal. As soon as they go back to profitable for the ASIC, those same ASICs will be back like zombies. The position you are arguing is untenable, and your argument (or lack of as it were) only more clearly reveals that fact. As I said, I can't believe I'm hearing this from you. I can only guess that you must have a very strong predisposition that needs to be reinforced at whatever cost. In any event, let's promise to get together and talk about this again once diff has risen by 1000% (you and the handful of ASICs still mining on Multipool
).I'm not sure what you're trying to say. Difficulty adjustment ensures a constant supply of coins no matter what the network hashrate is.
Yes, you'll need an ASIC to mine scrypt efficiently, you pretty much do right now. Just because people have ASICs does not mean that more coins per day will magically be produced. The production rate will be the same as it is now. Some (One?) scrypt coin(s) still have slow difficulty adjustments, which means that the hashrate of those coins will most likely start swinging violently every few days until a faster adjustment is implemented. Still, I can't see LTC getting caught in a difficulty trap unless most of the dedicated hash on it drops off and I just don't see that happening.
I honestly hoped DOGE could keep breathing a bit more. While the coin itself was a total joke, it had a few things to teach to others. LTC in particular still didn't get the lesson and probably will never do. Personally I will remember DOGE for a while, even though I never owned one, nor mined it.
Liquidating alts into BTC to sell for fiat. Seen this happen many times when BTC rises.
Worse yet! (and, yes, understood, that makes sense, but, as I said, that's worse yet, and further undermines your argument).
mine those coins into oblivion by immediately
Ever heard of difficulty?To that I reply what may sound like an idiotic ever heard of ASIC? Really, flound, I can't believe I'm hearing this from one of the most important pool operators around. ASIC cuts scrypt power costs by what? Over 900%? Said another way, ASIC mining variable costs are 1/10 that of GPU mining? (That's just to throw out low-ball figures - the high end is around 1/20th the cost, so get ready.) "Ever heard of difficulty?" Are you serious? At a 1/10 cost to mine, difficulty could rise 10 fold and the ASICs would still be profitable!!!! Where do you think the widely distributed user base and secure network will be by then? 99% of scrypt coins are currently NOT PROFITABLE using GPU, *ALREADY*, and price isn't rising. Why do you think that is happening? You think those coins will be able to recover after the ASIC demolition? You're dreaming pal. As soon as they go back to profitable for the ASIC, those same ASICs will be back like zombies. The position you are arguing is untenable, and your argument (or lack of as it were) only more clearly reveals that fact. As I said, I can't believe I'm hearing this from you. I can only guess that you must have a very strong predisposition that needs to be reinforced at whatever cost. In any event, let's promise to get together and talk about this again once diff has risen by 1000% (you and the handful of ASICs still mining on Multipool
).Jump to: