Topic: Next best coin to mine after ASIC takes over bitcoin? - page 2. (Read 4167 times)
In order to merge mine the primary chain and the alt chains need to have the same hashing algorithm. If Bitcoin were to change to a new algorithm it could no longer be merge mined with SHA-2 chains. We likely will be using SHA-2 for some time. Nobody can predict the future but SHA-2 is well researched and cryptologists have spent a lot of effort looking for flaws. If a flaw is found in SHA-2 25 years from now and Bitcoin moved to SHA-5 2 years after that it doesn't really matter. All current GPU and ASICS will be long obsolete anyways.
I use pooled merged mining currently. Will the BFL ASIC's be able to also mine namecoins, or just the bitcoins? Maybe my gpu's can stick on merged mining, but mainly be there to get namecoins if those ASICs can't mine namecoins.
BFL asics should be able to merge mine. You could mine litecoins with GPUs.Well, GPU's are very programmable. The ASICs not so much. From what I have been reading, if the hash algorithm for bitcoins changes any bit by say a potential shift to SHA-3 (especially when SHA-2 gets compromised) the ASICs are then worthless. I have no clue if all these other coincurriences (namecoin in this case) uses the same hash algorithm as bitcoins. If it is the same, it should then be able to merge mine or mine other coins so long as the software is there to support it right?
I use pooled merged mining currently. Will the BFL ASIC's be able to also mine namecoins, or just the bitcoins? Maybe my gpu's can stick on merged mining, but mainly be there to get namecoins if those ASICs can't mine namecoins.
BFL asics should be able to merge mine. You could mine litecoins with GPUs. I use pooled merged mining currently. Will the BFL ASIC's be able to also mine namecoins, or just the bitcoins? Maybe my gpu's can stick on merged mining, but mainly be there to get namecoins if those ASICs can't mine namecoins.
The "merged" part of merge mining is done in the "miner" (software). For the case of mining pools it is the pool server which generates the getworks (and constructions the block header to be compatible with both chains).
At the hardware level the hardware is simply hashing a number. It has no concept of what that number represents and thus there is no obstacle to merge mining.
I use pooled merged mining currently. Will the BFL ASIC's be able to also mine namecoins, or just the bitcoins? Maybe my gpu's can stick on merged mining, but mainly be there to get namecoins if those ASICs can't mine namecoins.
Read this:
Alternative Block Chains : be safe!
My opinion: Stick with Bitcoin and perhaps Namecoin. Everything else is just a type of pump 'n dump scam coin created to try and get people excited about being an "Early Adopter"... they have no other purpose.
Alternative Block Chains : be safe!
My opinion: Stick with Bitcoin and perhaps Namecoin. Everything else is just a type of pump 'n dump scam coin created to try and get people excited about being an "Early Adopter"... they have no other purpose.
So, if these ASIC from BFL are as advertised, or even half of what is advertised, GPUs will quickly become a hot brick burning money when it comes to mining bitcoins.
There are other coincurriences out there I have noticed. What do you think would be the best coin to mine with GPUs once bitcoin is no longer profitable for gpus? Seems like mining another coin could be profitable, and all the gpus could just switch to another coin and help bring up a coin to being something worthy. Im sure a lot will make a shift to a new coin instead of selling off all their hardware. Bitcoin was a risk that was worth pennies at the time, just like these other coins, just that bitcoin miners already have the hardware.
Though I don't know much about these other coins. I ordered some ASIC if they do pan out. If they do pan out, Im hoping I can keep a similar BTC per day ratio in mining and then switch my GPUs over to the next best coin to mine and hope that it becomes really profitable.
There are other coincurriences out there I have noticed. What do you think would be the best coin to mine with GPUs once bitcoin is no longer profitable for gpus? Seems like mining another coin could be profitable, and all the gpus could just switch to another coin and help bring up a coin to being something worthy. Im sure a lot will make a shift to a new coin instead of selling off all their hardware. Bitcoin was a risk that was worth pennies at the time, just like these other coins, just that bitcoin miners already have the hardware.
Though I don't know much about these other coins. I ordered some ASIC if they do pan out. If they do pan out, Im hoping I can keep a similar BTC per day ratio in mining and then switch my GPUs over to the next best coin to mine and hope that it becomes really profitable.
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