Topic: When Bitcoin ASICs are outdated, can we use them to mine SHA256 alt coins? (Read 3311 times)
August 15, 2013, 08:36:35 PM
you can always use then to make your own alt-coin
August 15, 2013, 08:02:07 PM
Companies will let you exchange them for newer versions, for a price.
I never knew this. So what of the following companies that have delivered ASIC miners have a buy back scheme that people have used so far:
Avalon
Butterfly
ASICMINER
So far no other company has shipped any ASIC miners.
Am I wrong?
Avalon supposedly had a trade-in program and those with trade-ins were supposed to have their ASICs shipped to them before everyone else in their respective batches. They are still waiting. Avalon completely screwed those guys, so their trade-in program has been non-existent.
August 15, 2013, 05:20:33 PM
Also don't assume bitcoin will survive to be the only or major crypto currency. Bitcoin as an idea was revolutionary but who knows what advances can be created if it is improved upon. With so much hardware out there it's probably safe to assume something will be invented by creative types to utilize it. That's not to say that when you bought a stack of those USB miners for 2 BTC each you will ever see those 2 BTC back.
August 15, 2013, 02:03:06 PM
Companies will let you exchange them for newer versions, for a price.
I never knew this. So what of the following companies that have delivered ASIC miners have a buy back scheme that people have used so far:
Avalon
Butterfly
ASICMINER
So far no other company has shipped any ASIC miners.
Am I wrong?
BFL allowed you to turn in FPGA SHA-256 Singles did they not?
August 15, 2013, 05:34:23 AM
Companies will let you exchange them for newer versions, for a price.
I've never heard of this. Links to this data? August 14, 2013, 09:15:55 AM
Companies will let you exchange them for newer versions, for a price.
I never knew this. So what of the following companies that have delivered ASIC miners have a buy back scheme that people have used so far:
Avalon
Butterfly
ASICMINER
So far no other company has shipped any ASIC miners.
Am I wrong?
August 14, 2013, 09:12:09 AM
Companies will let you exchange them for newer versions, for a price.
August 14, 2013, 09:05:06 AM
they will never be outdated
Not sure if you are a troll or not.
Please backup your claim with some information or reasoning. Some people are new here and replies like yours just confuse.
ASIC as in the idea and the method will not be outdated for a very long time (no one even knows if there is a mining paradigm beyond ASIC itself) however current ASIC technology will become outdated very quickly. This is why companies like ASICMINER are investing back into themselves to continue development of the next ASIC chip.
August 14, 2013, 08:16:51 AM
they will never be outdated
August 14, 2013, 06:55:55 AM
Let's take a current BFL Bitcoin ASIC for example. (5 GH/s, 25 GH/s, 50 GH/s, etc)
I know it's hard to think of ASICs as being outdated because they are the best mining technology out right now, but GPUs were once the best and they became obsolete by new technologies. And now those same GPUs are used to mine alt coins because it's more profitable.
It's inevitable that this will happen to the current generation of Bitcoin ASICs down the road, if only to be surpassed by far superior ASICs.
Would this conversion just require a software update? Or would there be firmware updating required?
I know it's hard to think of ASICs as being outdated because they are the best mining technology out right now, but GPUs were once the best and they became obsolete by new technologies. And now those same GPUs are used to mine alt coins because it's more profitable.
It's inevitable that this will happen to the current generation of Bitcoin ASICs down the road, if only to be surpassed by far superior ASICs.
Would this conversion just require a software update? Or would there be firmware updating required?
These were already used to attack TerraCoin. Expect more attacks to SHA256 alt coins
Thats why Bitcoin is best, highest difficulty = most secure
August 14, 2013, 06:52:08 AM
Let's take a current BFL Bitcoin ASIC for example. (5 GH/s, 25 GH/s, 50 GH/s, etc)
I know it's hard to think of ASICs as being outdated because they are the best mining technology out right now, but GPUs were once the best and they became obsolete by new technologies. And now those same GPUs are used to mine alt coins because it's more profitable.
It's inevitable that this will happen to the current generation of Bitcoin ASICs down the road, if only to be surpassed by far superior ASICs.
Would this conversion just require a software update? Or would there be firmware updating required?
I know it's hard to think of ASICs as being outdated because they are the best mining technology out right now, but GPUs were once the best and they became obsolete by new technologies. And now those same GPUs are used to mine alt coins because it's more profitable.
It's inevitable that this will happen to the current generation of Bitcoin ASICs down the road, if only to be surpassed by far superior ASICs.
Would this conversion just require a software update? Or would there be firmware updating required?
Every ASIC on the market today will be a doorstop in 1 year. Better ASIC's will be made and a Bitcoin ASIC has no other purpose than mining SHA, also most alternative coins use script (except PPC, TRC)
The current generation have no other use and will become a doorstop, if someone says otherwise they are selling snake oil.
EDIT: This is why time to market is important, getting your ASIC 3 months earlier is all the difference between doorstop and ROI.
August 14, 2013, 06:46:32 AM
Let's take a current BFL Bitcoin ASIC for example. (5 GH/s, 25 GH/s, 50 GH/s, etc)
I know it's hard to think of ASICs as being outdated because they are the best mining technology out right now, but GPUs were once the best and they became obsolete by new technologies. And now those same GPUs are used to mine alt coins because it's more profitable.
It's inevitable that this will happen to the current generation of Bitcoin ASICs down the road, if only to be surpassed by far superior ASICs.
Would this conversion just require a software update? Or would there be firmware updating required?
I know it's hard to think of ASICs as being outdated because they are the best mining technology out right now, but GPUs were once the best and they became obsolete by new technologies. And now those same GPUs are used to mine alt coins because it's more profitable.
It's inevitable that this will happen to the current generation of Bitcoin ASICs down the road, if only to be surpassed by far superior ASICs.
Would this conversion just require a software update? Or would there be firmware updating required?
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