Will Scrypt ASIC Miners be a bust? | Bitcointalksearch.org

dyask

hero member

Activity: 854

Merit: 510

Quote from: TheFridge on March 24, 2014, 08:19:43 PM

Not necessarily, look at bitcoin. At the time the were only a couple of coins to mine with the asics. If you were in early enough it was extremely profitable

Posted From bitcointalk.org Android App

No doubt that if coins keep using the same scrypt algorithms the people with ASIC miners will do well. I'm wondering how many coins will change their algorithms. My guess is some bigger coins will and the sicker coins won't hoping for the hashing. In that case I wonder what the value of an scrypt ASIC miner will be.

grendel25

legendary

Activity: 2296

Merit: 1031

Quote from: dyask on March 24, 2014, 08:03:36 PM

It seems that many coins could just change the algorithm being used faster than ASIC miners will be able to keep up. That might require hard forks of the block chains, still possibly less painful than letting ASICs rule the world. On the other hand, ASIC miners will be less power hungry so probably some coins will stay the coarse, like perhaps LTC. Already so much power pointed at it that it will take the ASIC miners some time to make a dent.

So are we headed for a world where some scrypt coins are ASIC minable and most aren't? If so it seems it would greatly reduce the value of a scrypt ASIC miner. Seems like we are already seeing that with the hash rates being stepped up on the unreleased ASIC miners.

Maybe. Maybe not. I think a better predictor of this is all out success or failure of cryptocurrency in general. If crypto is successful then GPUs and ASIC miners will remain viable just as they are now because even alternate currencies will prove valuable in reinforcing digital currency. If it fails... there will be a lot more expensive paperweights in the world.

TheFridge

sr. member

Activity: 252

Merit: 250

Not necessarily, look at bitcoin. At the time the were only a couple of coins to mine with the asics. If you were in early enough it was extremely profitable

Posted From bitcointalk.org Android App

dyask

hero member

Activity: 854

Merit: 510

It seems that many coins could just change the algorithm being used faster than ASIC miners will be able to keep up. That might require hard forks of the block chains, still possibly less painful than letting ASICs rule the world. On the other hand, ASIC miners will be less power hungry so probably some coins will stay the coarse, like perhaps LTC. Already so much power pointed at it that it will take the ASIC miners some time to make a dent.

So are we headed for a world where some scrypt coins are ASIC minable and most aren't? If so it seems it would greatly reduce the value of a scrypt ASIC miner. Seems like we are already seeing that with the hash rates being stepped up on the unreleased ASIC miners.

Topic: Will Scrypt ASIC Miners be a bust? (Read 595 times)