First Scrypt ASIC coming out of Alpha Technology?
-
I think to good thing is Scrypt ASICs will make the coins more viable and less wasteful as current mining uses too much energy for the Easter calculations we are doing. They serve no purpose but to make coins.
It will however shut out regular miners as difficulty will shoot up for coins people decide to deploys these on. FTC will probably be one along with the top 10 I think.
I agree. Buy or mine as many as you can now for use before these release if you believe in the coin.
-
All out of stock :(
-
Hmm, I don’t wanna say it but this is more bad news then good I believe… If you sell a mining rig now you can maybe even make a small profit on it.
When those things go public (for as far it didn’t happen already) a mining rig becomes useless cause it’s no match against these… And you probably not going to sell it very easly.
and it’s probably not going to be easy to get your hands on one of these.
hrmpf…
-
[quote name=“Morderchai” post=“49533” timestamp=“1388772827”]
Hmm, I don’t wanna say it but this is more bad news then good I believe… If you sell a mining rig now you can maybe even make a small profit on it.
[/quote]My investment isn’t profitable any more because those willing to invest more are outpacing me. New technology sucks, and we should just stick with what works. :o
I was listening to this yesteday: [url=http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/]http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/[/url]
And I was just dumbfounded at how the Litecoin guy was talking about ASIC.
He said, and I quote, “The main reason why I decided to use scrypt is because I realized early on that it would be hard for alt currency to survive with Bitcoin if it was fighting for the same set of miners. Back then the Bitcoin miners were using GPUs so I wanted something that was hostile to GPUs but worked on CPUs, so scrypt was the choice, [i]and one of the good things about scrypt is it scales well with hardware[/i].”
30 seconds later he says, “I believe when ASICs for Litecoin do come out, it won’t wipe out the GPU miners.”
It’s like he’s totally delusional. He’s so absorbed in the whole ‘scrypt as a solution to ASICs’ chant he doesn’t even realize he’s completely contradicting himself, and ignoring the overwhelming evidence: GPUs wiped out CPU mining, and ASICs wiped out GPU mining. He said himself, scrypt scales well with hardware. What on earth would then make him think that in an increasingly competitive marketplace a vastly inferior solution would still have a reasonable place?
Scrypt ASICs are coming. They’re going to put your GPU farm out of business in short order when they do, just like the Bitcoin ASICs did. This is ENTIRELY a GOOD THING™. It will create a larger market demand for specialized hardware, driving difficulty and demand up, increasing the valuation of scrypt based coins, greatly rewarding early adopters and severely punishing those who hold on to the old ways for too long. This is entirely as it should be, and I for one welcome our new ASIC overlords, and feel no sympathy for those of you who are crying over the rapid rate of progress.
-
[quote name=“Kevlar” post=“49534” timestamp=“1388773199”]
[quote author=Morderchai link=topic=6620.msg49533#msg49533 date=1388772827]
Hmm, I don’t wanna say it but this is more bad news then good I believe… If you sell a mining rig now you can maybe even make a small profit on it.
[/quote]My investment isn’t profitable any more because those willing to invest more are outpacing me. New technology sucks, and we should just stick with what works. :o
I was listening to this yesteday: [url=http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/]http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/[/url]
And I was just dumbfounded at how the Litecoin guy was talking about ASIC.
He said, and I quote, “The main reason why I decided to use scrypt is because I realized early on that it would be hard for alt currency to survive with Bitcoin if it was fighting for the same set of miners. Back then the Bitcoin miners were using GPUs so I wanted something that was hostile to GPUs but worked on CPUs, so scrypt was the choice, [i]and one of the good things about scrypt is it scales well with hardware[/i].”
30 seconds later he says, “I believe when ASICs for Litecoin do come out, it won’t wipe out the GPU miners.”
It’s like he’s totally delusional. He’s so absorbed in the whole ‘scrypt as a solution to ASICs’ chant he doesn’t even realize he’s completely contradicting himself, and ignoring the overwhelming evidence: GPUs wiped out CPU mining, and ASICs wiped out GPU mining. He said himself, scrypt scales well with hardware. What on earth would then make him think that in an increasingly competitive marketplace a vastly inferior solution would still have a reasonable place?
Scrypt ASICs are coming. They’re going to put your GPU farm out of business in short order when they do, just like the Bitcoin ASICs did. This is ENTIRELY a GOOD THING™. It will create a larger market demand for specialized hardware, driving difficulty and demand up, increasing the valuation of scrypt based coins, greatly rewarding early adopters and severely punishing those who hold on to the old ways for too long. This is entirely as it should be, and I for one welcome our new ASIC overlords, and feel no sympathy for those of you who are crying over the rapid rate of progress.
[/quote]well said :) To be clear, the only thing I’m lamenting is the fact that I won’t be able to gain any MORE coins when that day comes that our ASIC overlords rule supreme. Increased difficulty in mining new Feathercoins is ultimately a VERY good thing since it increases scarcity and by extension, it’s inherent value.
Good point about the ASICs creating a new market for specialized hardware. Demand in any market is a good thing for currency as a whole. +1 rep
-
[quote name=“Kevlar” post=“49534” timestamp=“1388773199”]
[quote author=Morderchai link=topic=6620.msg49533#msg49533 date=1388772827]
Hmm, I don’t wanna say it but this is more bad news then good I believe… If you sell a mining rig now you can maybe even make a small profit on it.
[/quote]My investment isn’t profitable any more because those willing to invest more are outpacing me. New technology sucks, and we should just stick with what works. :o
I was listening to this yesteday: [url=http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/]http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/[/url]
And I was just dumbfounded at how the Litecoin guy was talking about ASIC.
He said, and I quote, “The main reason why I decided to use scrypt is because I realized early on that it would be hard for alt currency to survive with Bitcoin if it was fighting for the same set of miners. Back then the Bitcoin miners were using GPUs so I wanted something that was hostile to GPUs but worked on CPUs, so scrypt was the choice, [i]and one of the good things about scrypt is it scales well with hardware[/i].”
30 seconds later he says, “I believe when ASICs for Litecoin do come out, it won’t wipe out the GPU miners.”
It’s like he’s totally delusional. He’s so absorbed in the whole ‘scrypt as a solution to ASICs’ chant he doesn’t even realize he’s completely contradicting himself, and ignoring the overwhelming evidence: GPUs wiped out CPU mining, and ASICs wiped out GPU mining. He said himself, scrypt scales well with hardware. What on earth would then make him think that in an increasingly competitive marketplace a vastly inferior solution would still have a reasonable place?
Scrypt ASICs are coming. They’re going to put your GPU farm out of business in short order when they do, just like the Bitcoin ASICs did. This is ENTIRELY a GOOD THING™. It will create a larger market demand for specialized hardware, driving difficulty and demand up, increasing the valuation of scrypt based coins, greatly rewarding early adopters and severely punishing those who hold on to the old ways for too long. This is entirely as it should be, and I for one welcome our new ASIC overlords, and feel no sympathy for those of you who are crying over the rapid rate of progress.
[/quote]I completely agree to what you are saying. In the long term it is indeed a good thing in multiple ways as it will boost the scrypt based coins.
But my reaction is coming from the fact that lots of people invested thousands of dollars/euro’s/pounds to put a rig together (including me)
And that the profit they thought they would make on it is completely whiped away by the upcoming Scrypt ASIC’s
And yea a statement could be; you should’ve done more research on when the ASIC’s would arive and so on. But when you’re mining on 200Khash, the urge to get higher is as adictive as drugs haha!
-
[quote name=“justgeig” post=“49537” timestamp=“1388773893”]
well said :) To be clear, the only thing I’m lamenting is the fact that I won’t be able to gain any MORE coins when that day comes that our ASIC overlords rule supreme. Increased difficulty in mining new Feathercoins is ultimately a VERY good thing since it increases scarcity and by extension, it’s inherent value.
[/quote]Exactly correct. It can’t happen soon enough.
[quote]
Good point about the ASICs creating a new market for specialized hardware. Demand in any market is a good thing for currency as a whole.
[/quote]Absolutely right! It’s one of the most overlooked arguments when people start poo-hooing ASICs, and it’s so incredibly easy to demonstrate just how vital to the entire market ecosystem it is. Difficulty is a lagging indicator of price, but there’s more too it than that! If difficulty can’t increase rapidly, price can’t either. The two must be able to scale together, or one will draw the other down. [b]This is absolutely VITAL and the technology cannot scale rapidly without it![/b]
[quote]
I’d give you rep for your answer but I don’t know how :-[
[/quote]See the [Give Rep] link under my name/avatar?
-
[quote name=“Morderchai” post=“49538” timestamp=“1388774238”]
And yea a statement could be; you should’ve done more research on when the ASIC’s would arive and so on. But when you’re mining on 200Khash, the urge to get higher is as adictive as drugs haha!
[/quote]That’s exactly right. Speculative investment requires informed decision making to be profitable. Saying that advances in the technology are a bad thing simply because you made a poor decision isn’t really going to hold much weight.
-
[quote name=“Kevlar” post=“49540” timestamp=“1388774390”]
[quote author=justgeig link=topic=6620.msg49537#msg49537 date=1388773893][quote]
I’d give you rep for your answer but I don’t know how :-[
[/quote]See the [Give Rep] link under my name/avatar?
[/quote]
[/quote]
I found it :-) I think I had to wait until I had 10 posts maybe? At any rate, +1 rep occurred :-) -
I’m a bit biased about.
Everything on this site are a couple of renderings and some silly tech spec. Are you really sure it’s not a scam?
-
[quote name=“darkpila” post=“49548” timestamp=“1388775770”]
I’m a bit biased about.Everything on this site are a couple of renderings and some silly tech spec. Are you really sure it’s not a scam?
[/quote]Nope! For all we know, this could be total BS. Buyer beware!
-
so have i just invested in a mining rig at the wrong time?
-
[quote name=“futureproof” post=“49559” timestamp=“1388779905”]
so have i just invested in a mining rig at the wrong time?
[/quote]No. Absolutely not. To see why, review all posts in regards to Butterfly Labs last year at this time. -
Lets say you have a 25 mb rigs today.
What is the difference between a GPU rig mining at 25000 or an ASIC miner at 25000 except power use.
Pretty much the same is it not.
-
[quote name=“mmyhre” post=“49561” timestamp=“1388781072”]
…except power use.
[/quote]That’s kinda important though. Power use translates directly to profitability. If the ASIC’s are 10x more efficient, you’ll spend 10x less making the same coin. That means that the same size investment will get you 10x more coins. I’d say that matters a lot!
-
[quote]That’s kinda important though. Power use translates directly to profitability. If the ASIC’s are 10x more efficient, you’ll spend 10x less making the same coin. That means that the same size investment will get you 10x more coins. I’d say that matters a lot![/quote]
Of course. If you are planning to make an investment. Different if you already have a rig and also how you set they thing up. Here in my house basement, 1 floor i needed to use 2 x 1500 W heaters for warm up my basement room.
After running the rigs i have I can turn those off all winter… :-)
-
[quote name=“fyrputt” post=“49567” timestamp=“1388782510”]
[quote author=futureproof link=topic=6620.msg49559#msg49559 date=1388779905]
so have i just invested in a mining rig at the wrong time?
[/quote]No. These are not as revolutionary as the early ASICs for bitcoin. Don’t bother with them unless you want to expand your hashing power but already maxed out your home with GPU rigs (power or heatwise).
The 5MH/s rig will cost 1350 pounds with an expected delivery in Q2 or Q3. Let’s say 6 months from now. For the same money one would get a ~3MH/s rig here in Sweden that would be fully operational in a day or two. Those 3MH/s would then hash for a full 6 months at lower difficulties before the 5MH/s ASIC (hopefully) arrives.
Also if any GPU will die I would get a replacement within a week or two (4 business days last time it happened for me). If the alpha tech miner will die, how long will it take for you to get it fixed? And how much would it cost to ship it?
So unless you can’t handle the heat of more GPU’s or don’t have power for more then I wouldn’t bother with these alpha tech miners.
[/quote]Very insightful. +1 rep.
-
[quote]
Less heat also. A 25MH/s GPU rig produces a lot of heat which you must handle to keep your GPU’s cool enough to be stable.
[/quote]Yeah, loving this cold weather as my garage where rigs are is freezing cold - they are running great!
-
Also one thing people are not talking about is the density increase of hash rate. Right now you would be lucky to squeeze 5 MH/s out of a large custom 6u rackmount. On top of being kicked in the nuts by power consumption an average user will be able to pack far more hash rate into an ASIC farm compared to a GPU farm.
ASICs are going to be good for scrypt coins, it will drive the difficulty up and then the price will go up with it. Be glad you are here before asics!
-
[quote name=“Kevlar” post=“49534” timestamp=“1388773199”]
I was listening to this yesteday: [url=http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/]http://letstalkbitcoin.com/e71-blockchain-tools-and-litecoin-devs/[/url]
[/quote]Ya know, I just listened to this again, and I realized that at the 38:30 mark, he’s talking about Feathercoin!
“I don’t like to name names, but one of the other, let’s say, copies of Litecoin has struggled to update their software to such an extent they offered us bribes to help them, to fix their coin, and they ended up hiring someone else at a very high price to fix their coin, so be wary of coins that seem to have lots of good marketing without the engineering skills to back it, I think.”
Is that true? Were the developers of Litecoin approached first? I mean “bribe” is probablly the wrong word for being offered payment for services rendered, but I didn’t know that they were approached before Sunny was.
