I was going to be a bastard and say: sell yr DGB and move into PoS, preferably with NXT, but someone beat me to it.....
Well thanks for calling me a bastard
Topic: Poll: What is the best solution to the coming Scrypt ASIC problem? - page 3. (Read 4981 times)
April 23, 2014, 02:57:35 PM
Well thanks for calling me a bastard
April 23, 2014, 02:47:20 PM
ASICS are the future might as well sell the old GPU I am sure its made ROI by now...... So my vote was do nothing.
April 23, 2014, 02:46:36 PM
A few weeks back I was all about switching algorithms but the more I think about it the more I think it won't solve IMO the even bigger problem facing DigiByte right now.....exposure/adoption. Also there is nothing saying ASICs wont be developed for the "resistant" algorithms. I think Multi-Algo will be too confusing for your average Joe to truly understand and too much technical hassle.
I voted merged mining with Dogecoin.
Pros:
-Solves the ASIC issue with increased net hash.
-Huge exposure boost. /r/dogecoin alone has 75,000+ readers most of whom are already familiar with DigiByte due to past work. Their are constant news headlines about it, heck in two weeks they will have a NASCAR racing at Talladega and possible in the All Star race.
-If DogeCoin continues to grow in theory so would DigiByte.
-I see Dogecoin and DigiByte as siblings with Doge covering the internet/tipping and DigiByte falling more in the professional realm.
Cons:
-Success/failure will be partially tied to DogeCoin
-Will people that mine only keep their DogeCoin and sell the DigiByte? (Obviously multi-pools are going to sell both)
I voted merged mining with Dogecoin.
Pros:
-Solves the ASIC issue with increased net hash.
-Huge exposure boost. /r/dogecoin alone has 75,000+ readers most of whom are already familiar with DigiByte due to past work. Their are constant news headlines about it, heck in two weeks they will have a NASCAR racing at Talladega and possible in the All Star race.
-If DogeCoin continues to grow in theory so would DigiByte.
-I see Dogecoin and DigiByte as siblings with Doge covering the internet/tipping and DigiByte falling more in the professional realm.
Cons:
-Success/failure will be partially tied to DogeCoin
-Will people that mine only keep their DogeCoin and sell the DigiByte? (Obviously multi-pools are going to sell both)
April 23, 2014, 02:45:03 PM
Perhaps multi algo scrypt + sha256 blake would be nice idea. Graphic card miners will switch to blake and it will be fine for ages. Unless blake becomes popular enough for its own asic chip.
We are thinking an updated multi-algo myraid/ approach would be the most fair. Here is a very interesting article on the SHA-3 finalists.http://csrc.nist.gov/groups/ST/hash/sha-3/Round3/March2012/documents/papers/WENZEL_BENNER_paper.pdf
According to the results, Blake looks like it would be the easiest of all algos to develop an ASIC for. Skein looks to be the most RAM intensive.
The question is how would different algos be weighted evenly?
Doesnt really matter if developing ASIC for algo is a bit easyer or harder. If certain algo gets enough popularity, they will do it anyway.
Weighting problem is an issue for discussion. Theres no perfect fairness in multi algo solution. Just got to go with a best possible choice i quess.
April 23, 2014, 02:36:18 PM
Buying script ASICs would be the best solution.
April 23, 2014, 02:33:38 PM
actually with instamine you can compete even against titan, as long as you come first and the coin isn't anti-instamine of course
April 23, 2014, 02:30:05 PM
I was going to be a bastard and say: sell yr DGB and move into PoS, preferably with NXT, but someone beat me to it.....
April 23, 2014, 02:14:03 PM
Buy NXT or mine it at hashrate.org is what you should do, because PoW is going to eventually be a thing of the past. The only PoW coins that will be worth something imo are coins that use the hashing power for something useful like prime numbers or BOINC or something. But just hashing numbers for no purpose, and wasting electricity when we now know of better ways to secure networks (like PoS), is going to eventually be obsolete I think.
April 23, 2014, 01:23:32 PM
Perhaps multi algo scrypt + sha256 blake would be nice idea. Graphic card miners will switch to blake and it will be fine for ages. Unless blake becomes popular enough for its own asic chip.
We are thinking an updated multi-algo myraid/ approach would be the most fair. Here is a very interesting article on the SHA-3 finalists.http://csrc.nist.gov/groups/ST/hash/sha-3/Round3/March2012/documents/papers/WENZEL_BENNER_paper.pdf
According to the results, Blake looks like it would be the easiest of all algos to develop an ASIC for. Skein looks to be the most RAM intensive.
The question is how would different algos be weighted evenly?
April 23, 2014, 01:20:22 PM
Perhaps multi algo scrypt + sha256 blake would be nice idea. Graphic card miners will switch to blake and it will be fine for ages. I very much doubt that blake will become popular enough for asic makers to dedicate develop asic for it. At least not any time soon.
April 23, 2014, 01:15:38 PM
This is a very valid point. Ideally it would be awesome if everyone was able to mine a coin. Cpu's, ASICs and more. Does someone have a link to a more technical description of Myraid, or have first hand experience. More info on mining pools would be nice as well!
For the record, "do nothing" is what the Dogecoin community has decided for the foreseeable future. The idea is to get enough miners to adopt ASICs (like the Zeus 8W 300 KH for about $90) that no one person really ends up spending much in electricity and build strength in numbers. Of course, GPU miners who can operate at whatever their electric bills run can stick around as well. Doge has a much shorter time than DigiByte to implement before the halvings make mining not particularly profitable, so it will be good to watch and see how that goes. The canary in the cave, if you will.
April 23, 2014, 12:53:48 PM
You forgot Skein.
Do you have a link with more info?Skein is one of the hashing algorithms used in X11...I think it's number 4
Using just one of them ( be it Skein, Keccak, Grøstl, ...) makes it even more easy to develop an ASIC.
Most are all basically just a shitload of AND, OR, XOR, NOT, SHR and ROT operations.
ASIC (and GPU) heaven...
April 23, 2014, 12:44:39 PM
I voted Myriad but if you don't do that, do nothing. The best way to secure your network is to make it as accessible to as many as possible. Cheap low-wattage ASICs mean a community that likes a coin for its own sake can keep it going, perhaps not profitably for the miners but at least not at a significant loss. Myriad could accomplish the same thing if tech-poor CPU miners like myself at least have a shot at being effective.
This is a very valid point. Ideally it would be awesome if everyone was able to mine a coin. Cpu's, ASICs and more. Does someone have a link to a more technical description of Myraid, or have first hand experience. More info on mining pools would be nice as well! April 23, 2014, 12:43:10 PM
I voted Myriad but if you don't do that, do nothing. The best way to secure your network is to make it as accessible to as many as possible. Cheap low-wattage ASICs mean a community that likes a coin for its own sake can keep it going, perhaps not profitably for the miners but at least not at a significant loss. Myriad could accomplish the same thing if tech-poor CPU miners like myself at least have a shot at being effective.
April 23, 2014, 12:43:02 PM
You forgot Skein.
Do you have a link with more info?Skein is one of the hashing algorithms used in X11...I think it's number 4
April 23, 2014, 12:33:44 PM
You forgot Skein.
Do you have a link with more info? April 23, 2014, 12:33:17 PM
I have voted for : Multi-Algo (MYRAID)
Tell me if I have wrong, but with MYRIAD, each algo will have it's own difficulty right? That's why I voted for this choice...
Stats updated for Myraid coin. Tell me if I have wrong, but with MYRIAD, each algo will have it's own difficulty right? That's why I voted for this choice...
April 23, 2014, 12:32:49 PM
IMO X11 and Hefty1 is best.
April 23, 2014, 12:29:48 PM
You forgot Skein.
April 23, 2014, 12:25:22 PM
I have voted for : Multi-Algo (MYRAID)
Tell me if I have wrong, but with MYRIAD, each algo will have it's own difficulty right? That's why I voted for this choice...
Tell me if I have wrong, but with MYRIAD, each algo will have it's own difficulty right? That's why I voted for this choice...
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