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Topic: Scrypt mining is dead - a real thread discussing what the title says (Read 3669 times)

newbie
Activity: 19
Merit: 0
Amateur hour is over boys. Buck up or get off the horse!   Cheesy

https://www.youtube.com/watch?v=LQ8HzyMiLd0 My rig...Been running for over 2 weeks now.

I upgraded from my 8 r9 280x's 5.5mh to 30-32MH with the addition of 80 gridseeds.


Did you do any research into the quality of those things? $20k is a lot to dump on something that could be fried in a month or two.
member
Activity: 193
Merit: 10
ASICs supporters can say all they want, GPU miners will continue to GPU mine on new algorythm coins
It's the only path to ROI while ASICs is the path to ruin and manufacturers scamming

Mining is work and is taking a lot of time, and really imo currently it is not even worth the time if you are not a "believer"
Though people may be willing to work for almost nothing, nobody is willing to work for loosing money...so no sane GPU miner wants ASICs

Crypto is not only about technics, it needs to not fuck up almost every early adopters...and with all the scams, steals, exchanges failures and this bear market, i'm sure LOTS of early adopters/investors got raped
Really i don't think that would not be too much if all the miners from november/december, like me, could at least ROI or...you can keep your cryptos for the few survivors of this huge mess for years or decades
full member
Activity: 190
Merit: 100
Yeah bring on the asic miners! The scrypts I have been mining for months will come into their own! Necessity being the mother of invention, a new coin will pop up for graphics cards. Thorcoin is already jane scrypt. Maybe it will get some love from the out of work graphic card miners.
member
Activity: 61
Merit: 10
ASICs are the best way to secure the blockchain.
full member
Activity: 196
Merit: 100
I know many people are working on coins that actually do something with hash (like primecoin, which is a bad example because its still GPU resistant
Correction: primecoin is not GPU resistant anymore.
sr. member
Activity: 364
Merit: 250
I'm mine HVC . best for my gpu
sr. member
Activity: 840
Merit: 255
SportsIcon - Connect With Your Sports Heroes
The kids who operated their toy mining operations too ineffectively to be able to afford ASICs will try to make more and more toy coins to play with, but there is no good reason for serious money to buy such toy garbage, rather the serious investors will want to invest in secure currencies, and that means families of merged mined coins secured by ASICs.

(Assuming they are going to invest in proof of work blockchain based currencies at all, of course.)

-MarkM-

You brought it to yourselves when you sent money into BFL ASIC pre-orders. The arms race put aside the vast majority of the common people.

Now you can only whine ad nauseum in these threads to the level of spam, that the kids with toy mining are not willing to buy BTC and pump your holdings.

The more guys like you come here, the more I like altcoins. I like bitcoin, because it is supposed to be a peer-to-peer trustless system with no central authority. If one has to deal with this kind of ideological or antagonist crap from people that see themselves as some sort of unnoficial authorities, then I rather play with toys.

Bullshit, the vast majority of the common people have no desire to screw around with weird techie stuff like mining, they just want their currency to be secure and to work. The very existence of miners may even be off-putting, leading to ideas that it is unfair that miners get coins cheap or that miners got rich quick or that the security of their currency depends upon pimply kids living in their mom's basements playing videogames and occassionally turning of the game to whip up some quick coin.

The vast majority of the masses do not mine, and certainly not with GPUs, plug and play blackbox units are more their speed but even those aren't really something the masses go for.

-MarkM-

Those "pimply kids living in their mom's basements playing videogames and occassionally turning of the game to whip up some quick coin" are people too, and don't know better now, but some will grow interested and enthusiastic about peer-to-peer trustless system, Bitcoin itself later. But if they just want to grab some coin, they aren't more than a reflection of the adults. Or do the ASIC owners "invest" $1000, $5k, $10k+ with the purpose of altruistically process Bitcoin transactions and secure the network at operational cost?
full member
Activity: 126
Merit: 100
i'll be going asic after the second version comes out.
legendary
Activity: 2940
Merit: 1090
The kids who operated their toy mining operations too ineffectively to be able to afford ASICs will try to make more and more toy coins to play with, but there is no good reason for serious money to buy such toy garbage, rather the serious investors will want to invest in secure currencies, and that means families of merged mined coins secured by ASICs.

(Assuming they are going to invest in proof of work blockchain based currencies at all, of course.)

-MarkM-

You brought it to yourselves when you sent money into BFL ASIC pre-orders. The arms race put aside the vast majority of the common people.

Now you can only whine ad nauseum in these threads to the level of spam, that the kids with toy mining are not willing to buy BTC and pump your holdings.

The more guys like you come here, the more I like altcoins. I like bitcoin, because it is supposed to be a peer-to-peer trustless system with no central authority. If one has to deal with this kind of ideological or antagonist crap from people that see themselves as some sort of unnoficial authorities, then I rather play with toys.

Bullshit, the vast majority of the common people have no desire to screw around with weird techie stuff like mining, they just want their currency to be secure and to work. The very existence of miners may even be off-putting, leading to ideas that it is unfair that miners get coins cheap or that miners got rich quick or that the security of their currency depends upon pimply kids living in their mom's basements playing videogames and occassionally turning off the game to whip up some quick coin.

The vast majority of the masses do not mine, and certainly not with GPUs, plug and play blackbox units are more their speed but even those aren't really something the masses go for.

-MarkM-
legendary
Activity: 1246
Merit: 1000
I thought the Scrypt ASIC things were a scam?

ASICs only lay waste to GPUs when the $/mhs is much lower.  They appear to be more expensive than GPUs at the moment (deliverable units, not vaporware)



Scrypt asics in hand doing 380-420Khs for under $200 on 7 watts or so...they are here for sure....

I am using them...

Where did you buy them for <$200?
sr. member
Activity: 280
Merit: 250
I thought the Scrypt ASIC things were a scam?

ASICs only lay waste to GPUs when the $/mhs is much lower.  They appear to be more expensive than GPUs at the moment (deliverable units, not vaporware)



Scrypt asics in hand doing 380-420Khs for under $200 on 7 watts or so...they are here for sure....

I am using them...
legendary
Activity: 1246
Merit: 1000
I thought the Scrypt ASIC things were a scam?

ASICs only lay waste to GPUs when the $/mhs is much lower.  They appear to be more expensive than GPUs at the moment (deliverable units, not vaporware)
sr. member
Activity: 840
Merit: 255
SportsIcon - Connect With Your Sports Heroes
The kids who operated their toy mining operations too ineffectively to be able to afford ASICs will try to make more and more toy coins to play with, but there is no good reason for serious money to buy such toy garbage, rather the serious investors will want to invest in secure currencies, and that means families of merged mined coins secured by ASICs.

(Assuming they are going to invest in proof of work blockchain based currencies at all, of course.)

-MarkM-

You brought it to yourselves when you sent money into BFL ASIC pre-orders. The arms race put aside the vast majority of the common people.

Now you can only whine ad nauseum in these threads to the level of spam, that the kids with toy mining are not willing to buy BTC and pump your holdings.

The more guys like you come here, the more I like altcoins. I like bitcoin, because it is supposed to be a peer-to-peer trustless system with no central authority. If one has to deal with this kind of ideological or antagonist crap from people that see themselves as some sort of unnoficial authorities, then I rather play with toys.
sr. member
Activity: 280
Merit: 250
The kids who operated their toy mining operations too ineffectively to be able to afford ASICs will try to make more and more toy coins to play with, but there is no good reason for serious money to buy such toy garbage, rather the serious investors will want to invest in secure currencies, and that means families of merged mined coins secured by ASICs.

(Assuming they are going to invest in proof of work blockchain based currencies at all, of course.)

-MarkM-



Although i hate to agree with you....if you are not Asic....you REALLY have no shot at going mainstream....this is the simple truth

And what most people forget about crypto is....we are changing the way the WORLD views alternative digital currencies...they do not EXIST to put $$ in your OWN pocket....Asics will provide this....they old way of viewing coins is obsolete....adapt or die.


newbie
Activity: 32
Merit: 0
I thought the Scrypt ASIC things were a scam?
legendary
Activity: 2940
Merit: 1090
Oh its one of the solidcoin-style-privileged-nodes systems, is it, like many of the PoS coins? A centralised checkpointing node or group of such nodes?

-MarkM-
full member
Activity: 203
Merit: 100
Feathercoin is not a new innovation though is it? Deliberately avoiding securing it seems pathetically stupid. Let ASIC miners secure one's feathercoin wealth and move on to mine other things with one's GPUs seems a more sensible approach, glad that one's adaptable tools adaptable to new fresh coins are being freed up from the onerous task of securing the feathercoins one already mined...

-MarkM-


It's been a long time since I paid any attention to feathercoin but...

Feathercoin was released with no innvoations but after several 51% attacks earlier in its life they came up with a new checkpointing system that supposedly helped stop that from happening.  Outside of that its just another litecoin clone.  Not to forget it was part of UNOCs which turned out to be a huge scam.  For me FTC has absolutely no reason to believe in it as a real currency.
legendary
Activity: 2940
Merit: 1090
Feathercoin is not a new innovation though is it? Deliberately avoiding securing it seems pathetically stupid. Let ASIC miners secure one's feathercoin wealth and move on to mine other things with one's GPUs seems a more sensible approach, glad that one's adaptable tools adaptable to new fresh coins are being freed up from the onerous task of securing the feathercoins one already mined...

-MarkM-
full member
Activity: 203
Merit: 100
I don't get why people have to be on one side or the other when it comes to asics, both gpus and asics can coexist and they're basically different tools for a job.  

GPU's are versatile and have/can/will be used for the early stages of any new algo/technology/ect.  If you want to mine as an early adopter, gpu's are the way to go.  There will be new coins, there will be new innovations, and gpu's will be right there mining it.  I know many people are working on coins that actually do something with hash (like primecoin, which is a bad example because its still GPU resistant) and asics will be even harder to implement there.  If you decide you don't wanna be a GPU miner anymore, gamers will happily buy your video cards for a decent price.  

Asics arent versitile but they're a key component in securing a mainstream coin. If litecoin gets as big as bitcoin I'd rather it secured by asics rather then GPU's. For the end user, having the blockchain secured by asics is a good thing and gives a lot of reason to be confident in the security of a coin.  Asics will push out "the little guy" in favor of a more cooperate mining scenerio, but that's a good thing if you want your coin to be mainstream.

I remember this same exact discussion taking place with bitcoin when asics were hitting.  So many people sold off their GPU farms and declared GPU mining dead period.  All those people probably heavily regret selling off their GPU farms as there was still a lot of life left in it. (and there still is)




legendary
Activity: 2940
Merit: 1090
Feathercoin is finally admitting it is just a toy/hobby not a serious currency, eh? About time I guess...

-MarkM-
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