The only last algoritihms we have to combat ASIC's are: x11, Cryptonite..and that's it.
Topic: Will the last POW scrypt coin please switch the lights off on the way out. (Read 540 times)
June 16, 2014, 03:42:42 PM
I agree with OP. Making scrypt coins is a dead end now, anyone with a scrypt ASIC can simply fork those new scrypt coins and do a 51% attack, thereby destroying them.
The only last algoritihms we have to combat ASIC's are: x11, Cryptonite..and that's it.
The only last algoritihms we have to combat ASIC's are: x11, Cryptonite..and that's it.
June 16, 2014, 03:16:50 PM
I have to agree even noble is switching to POS, it's a shame really, the real winners here are the companies creating these ASICs, unless these companies support scrypt coin prices they will have no market in the near future.
From the Noble Dev. POW is dead friends
https://bitcointalksearch.org/topic/m.7301375
From the Noble Dev. POW is dead friends
https://bitcointalksearch.org/topic/m.7301375
June 16, 2014, 03:07:54 PM
Yes, we are at the stage where POW scrypt coins are being hit with a double blow.
1. ASIC miners which is public knowledge. 3 Issues:
a. Scrypt coins vulnerable to 51% attacks.
b. Forces value down as ASIC miners dump out to try ROI.
c. Removes GPU mining as a option and mining becomes more centralized.
2. POS coins backed by Multi-pools
These multipools will continue the dump on POW to support there own coins.
The eventual death of POW will also kill off prices on POS coins and Scrypt ASICS will in turn become useless coffee cup holders.
Some turbulent times ahead.
1. ASIC miners which is public knowledge. 3 Issues:
a. Scrypt coins vulnerable to 51% attacks.
b. Forces value down as ASIC miners dump out to try ROI.
c. Removes GPU mining as a option and mining becomes more centralized.
2. POS coins backed by Multi-pools
These multipools will continue the dump on POW to support there own coins.
The eventual death of POW will also kill off prices on POS coins and Scrypt ASICS will in turn become useless coffee cup holders.
Some turbulent times ahead.
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