GPU miners are generally un-professional.
Explain this please. Does it mean you are a "Professional" since you bought into asics?
After reading my post all you take from it is that I claim GPU miners are unprofessional?
I never said I was professional. But, anyone that is willing to put their money into expensive hardware that does nothing but mine scrypt coins will be making that decision with a more professional mindset than the average fickle GPU miner.
Some GPU miners are just as dedicated and 'professional' as the best of us, but most dump a coin as soon as it's not popular and/or profitable before moving onto the next fad.
Miners buy asic hardware that is 'locked' to a select few coins.
Take LTC for example. The price is dropping fast, but the hashrate and difficulty is rocketing up as more asics hit the network. These miners choose LTC and will probably have their hardware working on LTC until it can no longer compete with new miners or cover it's electricity bill.
The point I am trying to make is that GPU mining is great to get a fledgling currency off the ground easily (and test new concepts), but once it is up and running (like Noble is now) it's past the 'startup' stage.
Stage 2 requires a more professional and efficient approach.
Many people have said we need to change algo to avoid asics, but have not offered any insight as to how they would contribute to the future of Noble.
Heres a quote from "highoncoins.com" a guy that has both GPU and ASIC
Coin hopping? Yes, that is probably the only way to make money these days. The good part? Whoever still has massive amounts of graphic card rig hashing power will be the only miners left in the end. DO NOT BUY ASICs, ROI on those things are horrible! At least your graphic card rig hold market value because you can resell it for at least 75% of what you paid for or even just part out and sell the graphic cards, which hold value unlike ASICs.
I’ve spent $25K on Gridseeds and Gridseed Blades, now those ASICS I bought only 2 months ago are worth less than $5K. I am so mad I did that, don’t be like me, keep your graphic card rig running!!! ASICs are out there to make money for companies who sell the ASICs, don’t be fooled into the biggest scam of all.
You probably paid 10K for 100 MH asic that only mines scrypt coins. I'm guessing here. Scrypt coins will be a small segment of the coin market soon.
300 MH units are already shipped at the same price. And now they are offering 400MH units for under 7K. In a couple months they will be half that price , most likely.
Not all GPU miners are dumpers, just to clear that up. EDIT: It seems to me that the more "business" like ASIC miners you speak of will be the ones dumping. Buying ASIC as a business decision will put more pressure to get ROI.
I enjoy being a hobbyist. I wont lose money on ASIC mining equipment, and I still have the option to mine all coins.
Pretty soon, your 100 MH wont be able to turn a profit, but if you never sell coins then it won't matter.
