Why ASIC mining isn't for us! FB article.
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Want to understand the CPU / GPU / ASIC argument in plain simple terms? Then click the link below and have a gander.
https://www.facebook.com/feathercoinftc/posts/172739042907924
When there, click LIKE please and follow the page. The FB page is there to support you, promote FTC and spread the word.
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ASICs are good. Trying to prevent your coin from ASICs is a stupid idea. There is no such thing as technology advancements which which put capabilities in less people’s hands. It is the other way around. Did dedicated phone technology allow only rich people to have portable phones? Did dedicated PC technology allow only IBM and large institutions to have large processing power? The ASIC argument shows a complete lack of understanding of free markets and consumer (periphery) technological adoption.
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Okay, a point of view… but do expand… why are they good?
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[quote name=“Vigil” post=“21239” timestamp=“1373549538”]
ASICs are good. Trying to prevent your coin from ASICs is a stupid idea.
[/quote]ASICs are not good when all you have is dumping to fiat. Contrary to claims, ASICs are overpriced and do not adapt to changes in the future.
You can’t have ASICs without a solid market and that means paying rent with FTC.
FPGAs will be good though.
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[quote name=“zerodrama” post=“21241” timestamp=“1373549785”]
[quote author=Vigil link=topic=2703.msg21239#msg21239 date=1373549538]
ASICs are good. Trying to prevent your coin from ASICs is a stupid idea.
[/quote]ASICs are not good when all you have is dumping to fiat. Contrary to claims, ASICs are overpriced and do not adapt to changes in the future.
You can’t have ASICs without a solid market and that means paying rent with FTC.
FPGAs will be good though.
[/quote]You are talking about a current situation, the use of ASICs will not always result in that. Currently, ASICs are priced high - that is the same with any technology initially. Soon enough this technology will become much cheaper as competitors move in and more user-friendly. Look at flat screen TVs - they initially cost $10,000, now they can be purchased for $100s to $1000s and many people have them of varying socio-economic levels. -
But flat screen TV’s are not made tailored to the user. They are generic and mass produced. ASIC’s don’t get made that way. A BitCoin ASIC won’t mine another flavour of coin hash, or BitCoin itself of they change the algorithm sufficiently.
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[quote name=“Entimp” post=“21243” timestamp=“1373550788”]
But flat screen TV’s are not made tailored to the user. They are generic and mass produced. ASIC’s don’t get made that way. A BitCoin ASIC won’t mine another flavour of coin hash, or BitCoin itself of they change the algorithm sufficiently.
[/quote]That doesn’t have anything to do with it. Telephones initially only made phone calls, then there was voice messaging, then there was caller ID, then there were cellphones, and then smartphones. TVs initially only had 1 or 2 channels and nothing else to do with them. ASICs are giving more hash/$, reducing size, reducing energy consumption, etc. ASICs will actually help distribute hashing power, eventually. Maybe not right now because it is a new technology and we haven’t reached the periphery adoption period yet, but nor have we reached such adoption with Bitcoin either.
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[quote name=“Vigil” post=“21248” timestamp=“1373552283”]
[quote author=Entimp link=topic=2703.msg21243#msg21243 date=1373550788]
But flat screen TV’s are not made tailored to the user. They are generic and mass produced. ASIC’s don’t get made that way. A BitCoin ASIC won’t mine another flavour of coin hash, or BitCoin itself of they change the algorithm sufficiently.
[/quote]That doesn’t have anything to do with it. Telephones initially only made phone calls, then there was voice messaging, then there was caller ID, then there were cellphones, and then smartphones. TVs initially only had 1 or 2 channels and nothing else to do with them. ASICs are giving more hash/$, reducing size, reducing energy consumption, etc. ASICs will actually help distribute hashing power, eventually. Maybe not right now because it is a new technology and we haven’t reached the periphery adoption period yet, but nor have we reached such adoption with Bitcoin either.
[/quote]Then they wouldn’t be ASICS, they’d be some mega bad-ass computing device or an ultra-efficient graphics card. If they can be used for more than one purpose, it wouldn’t be an ASIC.
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[quote name=“aysyr” post=“21253” timestamp=“1373554271”]
[quote author=Vigil link=topic=2703.msg21248#msg21248 date=1373552283]
[quote author=Entimp link=topic=2703.msg21243#msg21243 date=1373550788]
But flat screen TV’s are not made tailored to the user. They are generic and mass produced. ASIC’s don’t get made that way. A BitCoin ASIC won’t mine another flavour of coin hash, or BitCoin itself of they change the algorithm sufficiently.
[/quote]That doesn’t have anything to do with it. Telephones initially only made phone calls, then there was voice messaging, then there was caller ID, then there were cellphones, and then smartphones. TVs initially only had 1 or 2 channels and nothing else to do with them. ASICs are giving more hash/$, reducing size, reducing energy consumption, etc. ASICs will actually help distribute hashing power, eventually. Maybe not right now because it is a new technology and we haven’t reached the periphery adoption period yet, but nor have we reached such adoption with Bitcoin either.
[/quote]Then they wouldn’t be ASICS, they’d be some mega bad-ass computing device or an ultra-efficient graphics card. If they can be used for more than one purpose, it wouldn’t be an ASIC.
[/quote]It doesn’t need to do more than one thing. That is beside the point. But they may eventually be able to do more than one algorithm. The only thing an ASIC needs to do is perform its task more efficiently and effectively than previous technology - it is weighed on those merits alone. It is too difficult from our vantage point to know how ASICs will develop in the future or what they will incorporate.
