is it possible to use a Bitcoin ASIC to mine an Alt Coin?

colinistheman

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Quote from: litecoin_messiah on August 14, 2013, 05:43:16 AM

You can mine Bitcoin or any other Scrypt currency and sell them for The Alt Coin at http://cryptsy.com

Check http://coinchoose.com to see the profitability though

That's true, one could always mine BTC and sell for the alt coin of their choice. My understanding was that because Bitcoin is becoming more difficult to mine, perhaps mining alt coins and then converting would be more profitable?

Is this a good idea or pointless? I've never figured out the conversion numbers of it all

bcp19

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Quote from: litecoin_messiah on August 14, 2013, 05:43:16 AM

You can mine Bitcoin or any other Scrypt currency and sell them for The Alt Coin at http://cryptsy.com

Check http://coinchoose.com to see the profitability though

Did you even read the OP? The thread title? Roll Eyes

krusin

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You didn't keep any Shake? I have a small reserve...just in case.

shakezula

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Quote from: krusin on August 14, 2013, 11:32:39 AM

Quote from: crazyearner on August 14, 2013, 11:26:07 AM

Quote from: krusin on August 14, 2013, 09:06:12 AM

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

only with upto about 5GH then it shit its pants already tried to solo mine this stuff with 88GH with and just spits out stales so good luck trying with more hash power

I was only mining with a few Erupters...I have since moved back to mmpool.

Quote from: krasnyoktyabr on August 14, 2013, 11:18:26 AM

Quote from: krusin on August 14, 2013, 09:06:12 AM

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

You can mine them, meaning that cgminer will allow you to try to use the wrong hashing algorithm to mine the coins, but it is impossible for something hashing SHA256 to successfully solve a block on a network with a different hashrate. CGminer will display your hashrate and everything, but you will never find a block.

You are talking about using a SHA-256 asic on scrypt I assume?

I have found almost 1000 Zetacoin blocks solo as Zetacoin is an altcoin with a SHA-256 algorithm.

I also had no issues mining ZET with my erupters, and only Solo. I mined more than 1M of them in a few days, sold them all too. Very nice coin for mining.

SpaceCadet

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Activity: 165

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Just mining my own business...

I've been mining PPC with my BE's (also BTC for a while). Could also mine TRC (and a few lesser SHA coin), but it's much less profitable (and PPC has PoS

...

krusin

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Activity: 98

Merit: 10

Quote from: crazyearner on August 14, 2013, 11:26:07 AM

Quote from: krusin on August 14, 2013, 09:06:12 AM

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

only with upto about 5GH then it shit its pants already tried to solo mine this stuff with 88GH with and just spits out stales so good luck trying with more hash power

I was only mining with a few Erupters...I have since moved back to mmpool.

Quote from: krasnyoktyabr on August 14, 2013, 11:18:26 AM

Quote from: krusin on August 14, 2013, 09:06:12 AM

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

You can mine them, meaning that cgminer will allow you to try to use the wrong hashing algorithm to mine the coins, but it is impossible for something hashing SHA256 to successfully solve a block on a network with a different hashrate. CGminer will display your hashrate and everything, but you will never find a block.

You are talking about using a SHA-256 asic on scrypt I assume?

I have found almost 1000 Zetacoin blocks solo as Zetacoin is an altcoin with a SHA-256 algorithm.

crazyearner

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Activity: 1820

Merit: 1001

Quote from: krusin on August 14, 2013, 09:06:12 AM

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

only with upto about 5GH then it shit its pants already tried to solo mine this stuff with 88GH with and just spits out stales so good luck trying with more hash power

krasnyoktyabr

full member

Activity: 140

Merit: 100

Quote from: krusin on August 14, 2013, 09:06:12 AM

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

You can mine them, meaning that cgminer will allow you to try to use the wrong hashing algorithm to mine the coins, but it is impossible for something hashing SHA256 to successfully solve a block on a network with a different hashrate. CGminer will display your hashrate and everything, but you will never find a block.

krusin

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Activity: 98

Merit: 10

Quote from: bumpk1nK on August 14, 2013, 05:46:03 AM

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

Not true, I have been solo mining Zetacoin with my erupters. -o 127.0.0.1:port

bumpk1nK

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Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

You have to use pool which allow mining alt coins

TheSpiral

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Activity: 322

Merit: 113

Sinbad Mixer: Mix Your BTC Quickly

Quote from: colinistheman on August 14, 2013, 05:39:35 AM

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

This is what i was wondering. My bad, i left out the "Bitcoin ASIC" in my title and just put "ASIC".

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

Same way you mine bitcoin.

litecoin_messiah

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You can mine Bitcoin or any other Scrypt currency and sell them for The Alt Coin at http://cryptsy.com

Check http://coinchoose.com to see the profitability though

colinistheman

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Activity: 907

Merit: 1003

Quote from: franky1 on August 13, 2013, 07:02:31 AM

a bitcoin ASIC can mine any coin that is SHA256

This is what i was wondering. My bad, i left out the "Bitcoin ASIC" in my title and just put "ASIC".

How would one go about using the Bitcoin ASIC to mine the alt coin also based on SHA256?

Fallout

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Merit: 10

Probably there will never be an ASIC being able to do both ... because then, it would not really be Application Specific (that is what the A and S are standing for), it would more be like an FPGA.

franky1

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a bitcoin ASIC can mine any coin that is SHA256

a litecoin ASIC can mine any coin that is Scrypt

i have yet to see an ASIC that is released and being used that can do both

phatsphere

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well, "an ASIC" implies that it could be any one. hence, the answer is always yes. one just has to build one. if an "existing ASIC" could be used, well, that depends on the asic and the alt coin.

colinistheman

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Activity: 907

Merit: 1003

Would this even be possible? And if so, would it require re-programming of the device or could a software solution be made to mine, say, Litecoins, or Prime Coin?

I presume that if possible at ALL, it would only be possible for those alt coins which use a similar or nearly identical mining hash code?

Topic: is it possible to use a Bitcoin ASIC to mine an Alt Coin? (Read 1878 times)