I'm sorry guys but I would like to try and bring some logic to lessen ASIC worries. So I'll address these issues one at a time:
- "People using ASICs to mine will ultimately bring more coins into the ecosystem and more large sell offs [also known as "dumping]."
Okay, this can be argued both on the technical level regarding coin production, and argued on the economic level regarding miner selling habits.
First off ASICs do not mean more coins will be produced. It means difficulty will rise, which in-turn helps keep coin production constant. Very few people will mine at
a loss electricity wise, meaning that a higher difficulty very often leads to a higher price. Note: ASICs will push difficulty higher but lower coin production [mining] costs,
so it should not adversely effect values. Secondly, nearly all miners with more than 2MH/s in hash-power are looking to pay expenses and get a return on their investment,
GPU miners are no different from ASIC users in this regard.
- "ASIC miners will ultimately decimate the Alt-Coin scene in both profitability and value"
I'm sorry but I fail to see the basis for this argument. Yes, GPU miners will be pushed out, just like they were in regards to SHA-256 mining, that didn't mean Bitcoin died out.
Refer to the above points for more reasoning behind why it ultimately won't "destroy" these currencies.
- "Scrypt ASICs favor those with more investment capital, meaning the rich get richer and it is unfair in regards to cryptocurrency."
Again, this is no different from GPU mining. There are those with numerous GPUs running solely for the sake of mining, it is no different from
ASICs. More capital ultimately means more currency for an individual, its just how it all works. ASICs don't change this.
Note I do not own any ASIC mining hardware, so I say all of this not to protect my own investments. I do run multiple GPU mining units though,
and while I can see that in regards to Scrypt I am a dying breed, I'm not going to spread FUD to try and help secure my economic position.
Thank you for reading.
You do have several points but you have ignored 1 fundamental economic, the law of supply and demand. It worked for Bitcoin as Bitcoin was the original coin, wider adoption rate and can be used to buy goods/services in the marketplace. With so many shitcoins, not Noble by the way, the supply of investors to soak up the demand of the shitcoins is limited at the present moment and can not satisfy the demand, thus all coins value, even the established ones like Megacoin, Franko, etc have dropped. There are many investors who are bagholders of shitcoins who are hoping the price will rise in order to get their investment back and they won't face reality, that is to cut their losses and transfer the money to good coins like Noble. The point of ASIC is that because it's cheaper to operate and has greater hashing power, it will dominate and take greater share of the coins and rising difficulty means smaller miners will leave. Bitcoin is different as those ASIC are a permanent fixture of mining Bitcoin. If more and more coins change their algorithm to anti-ASIC then the ASIC holders will get desperate to mine something to get their investment back.
Pray tell what if Litecoin were to become anti-ASIC? God forbid, Noble and others will be raped fanatically.