As a Cognitive investor, I am against this since failcoins seem to me a waste of time and money. But I am curious to hear why you have a different opinion.
First of all, I have to argue that Litecoin is in my opinion the best alt coin, and will probably succeed. The opposing views of alt coins are mostly caused by different definitions of "success". Some people think a successful alt coin should be at par with btc, or even just hit $1, but Litecoin has recently drawn the attention of GPU miners because it is actually more profitable to mine ltc and sell for btc (although I don't support this, and really want a way to pay dividends in ltc if we mine them).
I think if this was a GPU powered security it would make lots of sense, but with only FPGA power it would mean more hardware being brought in. Unless when (if) ASICs are released people are having GPU fire sales and we could pick up cheap cards.
My feeling here is that the fire sale will be avoided and the Litecoin hashrate (and Litecoin itself) will flourish. I do agree that if we were already a GPU mining company it would be in our best interest to switch. Even so, I would want a way to pay the dividends in LTC.
You'll also probably want to partner with a facility with lots of power available close by. The FPGA's are great running at home, but if you want to seriously scale with GPU's you're going to need lots of power. Please correct me if I'm wrong. By my calculations you can only get ~6-8 6950's on a 20A circuit. (keeping in mind that you don't want to run a 20A circuit beyond 16-17A.)
Cheers.
Cheers.
Yes, if we are ever to massively expand with GPUs I have two places in mind, both owned by family friends.
While on this topic, what are your opinions on a bit of expansion? My guess is that ASICs will not come until early next year. As of now it seems that BFL is a good long term choice mainly because of their ASIC upgrade plan, while other FPGA companies can guarantee a delivery in an extremely reasonable amount of time.
