lol Anyone could comprehensibly explain why ASIC resistance is an advantage for a coin?
I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....
I believe ASIC has much more advantages as compared with video card and the new technology aka ASIC should displace the ancient method of mining. Just few reason to argue my words:
- environment friendly
- secure the network by increasing the difficulty
- more comfortable to use at home
etc....
Some of us aren't incredibly rich, so we cannot afford ASICs, or we do not use cryptocurrencies as our main income.
With ASICs, most of the coins go to the rich people with ASIC farms, the rest of us can only buy coins, mining yields very little for someone without an ASIC farm, if ASICs are available for that algo.
With CPU/GPU-only mining, the entry point of a profit above "enough to pay the power bill each month", and to possibly even break even on that hardware cost in under a year, is available to most of us.
ASICs exponentially get more powerful often, usually by the time an ASIC ships, it's already outdated, and a new generation of much more powerful ASICs are released.
Consumer CPUs and GPUs also have easy consumer availability, it's easy to find a trustworthy source.
I'm terrible at explaining things, so hopefully this makes sense.
on each page people are shouting that VTC has ASIC resistance and it's the cause why VTC investors gonna be rich soon lol.
Tell us guys why ASIC resistance will lead VTC to success?
This is, you will never ever EVER ROI on a $100 gridseed. You're better off throwing that $100 into the ocean, at least someone else who finds it will feel good about it. ASIC resistance is important because it allows anybody to join in the mining. Sure, there are people with huge farms of GPUs in the count of hundreds, but at the same time you have to remember that setting up hundreds of GPU takes lots of time and money. You need motherboards, PSUs, GPU, space, and power.
I think this hits the bull's eye. With ASIC mining, we are giving the power to the ASIC producers. Many of them ask for 'pre-orders'. Who knows what they do with the new ASIC miners during the pre-orders period. Do they use them to mine and release them to the market once they are no longer profitable? Just think, if the producers can be more profitable mining with their own equipment than selling it, will they sell it to the public? When the ASIC producers get a taste of how profitable it is to mine with their equipment, they would think 'Hey I can even make it even more profitable with higher hashes!'. Soon, the ASIC producers get into a race to produce the next-higher-and-faster ASIC. The overall result is Centralization. Bitcoin's ASIC reliance is a good lesson for all.
This.
ASICs are bad because they lead to greed and centralization. Have you seen the KnC mining farm? Or the guy in Washington? Greed leads to companies (and even ASIC buyers) milking the money that individuals have invested into a currency. Do you really think that KnC isn't dumping all that BTC they mine on the market and causing the value to go down? It baffles me when people are so blind to the negative effects that ASICs have on a currency. The individual miner can help decentralize and protect a currency with their rigs. How is cryptocurrency supposed to be for the people if you allow companies to ruin it.
despite the declining price. We will never know about the future, but they've proven to be adaptive. They once stated that annonimity is not something people want because a coin that is meant for black market has no future, when DRK price actually took off because of annonimity, VTC devs doesnt shy to accept that annonimity is actually what people want and they went on to develop stealth addresses. They have proven that they're not just about adaptive scrypt-N but also adapting to the future needs of the coins to succeed as well. I'm more and more convinced that they will ADAPT and BEAT ASIC. Many ASIC manufacturers have promised scrypt-N ASIC Flowertech, Bliss, and the wannabe LightningASIC. I would long for the day VTC devs pull the surprise that renders their machine useless and bankrupt their finances 
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