[LTC] Changing the litecoin Proof of Work function to avoid ASIC mining? - page 2.

flipme

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Quote from: El Dude on March 25, 2014, 09:09:11 AM

Quote from: flounderella on March 25, 2014, 09:02:26 AM

Having ASICs is not all bad. It's a much cheaper way to secure the blockchain. The argument that it somehow precludes small miners is also false. There are already GPU farms that control hundreds of MH and more (think hundreds of R9 280/290s), something that would be unthinkable for small miners. If anything cheap ASICs will make it easier to mine at much less power consumption for the average miner.

+1

Yeah, and suicide is also not that bad, you won't have to bring down the trash anymore, just saying.

El Dude

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Quote from: flounderella on March 25, 2014, 09:02:26 AM

Having ASICs is not all bad. It's a much cheaper way to secure the blockchain. The argument that it somehow precludes small miners is also false. There are already GPU farms that control hundreds of MH and more (think hundreds of R9 280/290s), something that would be unthinkable for small miners. If anything cheap ASICs will make it easier to mine at much less power consumption for the average miner.

+1

flounderella

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Having ASICs is not all bad. It's a much cheaper way to secure the blockchain. The argument that it somehow precludes small miners is also false. There are already GPU farms that control hundreds of MH and more (think hundreds of R9 280/290s), something that would be unthinkable for small miners. If anything cheap ASICs will make it easier to mine at much less power consumption for the average miner.

flipme

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Yes, change it to X11.

The talk about changing algos won't go away anymore.
I'm doing Darkcoin since yesterday and I already enjoy the silence and lack of heat mining X11.
My power bill will be cut in half. The chart for the coin looks amazing.

A lot of the hassle regarding fundamental changes in the software would be taken away, if there were an in-app update method contained in the wallet.

El Dude

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Quote from: zjz_lgd on March 25, 2014, 07:57:01 AM

Year, change it.if ASIC comes, LTC is destroyed！

yes because ASIC destroyed Bitcoin .

BOJ

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矿机出现更利于发展如果为了这个改算法永远不会成为主流币

chinatom

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may be "DAC" do ti himself.

the rule is automatic or "most people" game ??

I CHOOSE "YES"

BECAUSE I HAVE GPU MINER.

zjz_lgd

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zjz_lgd

Year, change it.if ASIC comes, LTC is destroyed！

harveyweizhao

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I vote for YES.

gondel

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Hi,
Here i would defentely vote with YES. Lite coin should change and be asic protected.

BR,

Gondel

Wolf0

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It was only the wind.

Quote from: mek300 on February 09, 2014, 05:03:22 PM

Quote from: Wolf0 on February 09, 2014, 04:27:18 PM

..... If you buy a $5 USB ASIC miner and mine 1,000,000 coins, but they're only worth 0.5 USD, you lost.

People tend to forget history.

"May 21st, 2010, Laszlo Hanyecz, a programmer living in Florida, sent 10,000 bitcoin (BTC), the online-only, open source cryptocurrency, to a volunteer in England, who then spent about $25 to order Hanyecz some Papa John's."

Just because Bitcoin went to the moon doesn't mean all cryptos will.

jorneyflair

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scrypt-n asic under testing Grin

crazy987

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Quote from: alximix on March 19, 2014, 03:38:47 PM

Estimated Next Difficulty: 6,367 (+11.00%)

I dont know where you are getting your info:

Litecoin Difficulty: 5,835
Estimated Next Difficulty: 5,426 (-7.02%)

Just noticed the date, oops.

llccool

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必须要改算法，干掉矿机。作者的愿望不就是没有矿机的干预吗？现在矿机来了，算法不改的话，作者会被世人耻笑的

Wolf0

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It was only the wind.

Quote from: CoinBuzz on February 09, 2014, 04:05:36 PM

Quote from: mek300 on February 09, 2014, 02:59:14 PM

The best way to deter ASIC mining from gpu mining is to create competition among ASIC mining manufacturers.

One possible way is to create a new scrypt coin with much reduced N-factor (litecoin is 10?) and have hugh supply of coins in short time span-- like 500 billion in 1 year (dogecoin has 100 billion in 1.5 years) .

So everybody - even ppl without much computer knowledge - will be able to buy a $5 USB ASIC miner and start enjoying mining and owning some "new sparkling computer coin" !!

Vertcoin (VTC) is somehow similar to that

No, it's not, and that's a stupid idea. First, VertCoin INCREASES N over time to stop ASICs, not reducing it to make their manufacture easy. Second, it's not about how many coins you have, it's what they're worth. If you buy a $5 USB ASIC miner and mine 1,000,000 coins, but they're only worth 0.5 USD, you lost.

Sophokles

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Quote from: eroxors on March 19, 2014, 04:04:41 PM

too late?

Yes. Most likely. Unfortunately. All the GPU miners will be pushed out of the scrypt coins. Where will all the hash power go? N-factor scrypt? Or something completely new? This will be interesting.

eroxors

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Think. Positive. Thoughts.

too late?

alximix

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Estimated Next Difficulty: 6,367 (+11.00%)

Wolf0

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It was only the wind.

coins101

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Quote from: Wolf0 on February 10, 2014, 12:05:55 AM

Quote from: mek300 on February 09, 2014, 05:03:22 PM

Quote from: Wolf0 on February 09, 2014, 04:27:18 PM

..... If you buy a $5 USB ASIC miner and mine 1,000,000 coins, but they're only worth 0.5 USD, you lost.

People tend to forget history.

"May 21st, 2010, Laszlo Hanyecz, a programmer living in Florida, sent 10,000 bitcoin (BTC), the online-only, open source cryptocurrency, to a volunteer in England, who then spent about $25 to order Hanyecz some Papa John's."

Just because Bitcoin went to the moon doesn't mean all cryptos will.

Sometimes being first out of the gate with a new technology is an achilles' heel. But, you are right not all coins will succeed.

Topic: [LTC] Changing the litecoin Proof of Work function to avoid ASIC mining? - page 2. (Read 33299 times)