First Scrypt ASIC coming out of Alpha Technology?
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[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.
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[quote name=“mmyhre” post=“49561” timestamp=“1388781072”]
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]Well, for GPU mining you need to account for the cost of processor, motherboard, power supply.
At the end of the day, ASIC miner is still cheaper although the difference isn’t significant here. ASIC totally killed BTC mining on GPU, but this won’t.Now what if the ASICs were build in 15nm next year? It’ll probably get 50% faster… We have yet to hear anything from AMD so far, regarding their new GPU on 2014…
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ASIC’s are great for any technology where power cost is an issue. As it’s been stated before asic technology will make scrypt coin technology scalable. That’s the only way it’s going to get commercial recognition. I for one welcome the technology as I see it’s potential for transforming the world in more ways than just a distributed store of value, but also as a distributed store of data. I am ready for scrypt asic and I already have funds available now for the next round of sales. And if Lizhi gets his scrypt asic usb crunchers available for sale, I for one will buy them… with FTC. :)
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[quote name=“corather” post=“49637” timestamp=“1388813403”]
ASIC’s are great for any technology where power cost is an issue. As it’s been stated before asic technology will make scrypt coin technology scalable. That’s the only way it’s going to get commercial recognition. I for one welcome the technology as I see it’s potential for transforming the world in more ways than just a distributed store of value, but also as a distributed store of data. I am ready for scrypt asic and I already have funds available now for the next round of sales. And if Lizhi gets his scrypt asic usb crunchers available for sale, I for one will buy them… with FTC. :)
[/quote]It’s a brilliant model, isn’t it? Having EVERYONE running custom hardware to secure their payment network and generate value? Literally a modern marvel, a feat of engineering, both social and technological. I am humbled by the genius of the design.
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[quote name=“Kevlar” post=“49639” timestamp=“1388815679”]
It’s a brilliant model, isn’t it? Having EVERYONE running custom hardware to secure their payment network and generate value? Literally a modern marvel, a feat of engineering, both social and technological. I am humbled by the genius of the design.
[/quote]You’re an architect of the technology. I’m humbled by you! Information, and knowledge is more valuable than all the resources on earth. What better way to store human knowledge than through a distributed network. People like you Kevlar have managed to squeeze the idea of a library down to some code and potentially stored in every nook and cranny of server space and private storage in the world, and eventually out of this world. There’s no possible way knowledge can be lost now, and no good reason for it except through sheer incompetence or gross mismanagement. Link and MADEsparq are two of the most important developments in human history and should be mentioned right along with alternating current and pecan pie. :) Hey, I love pecan pie.
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[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]Nice summary +1rep
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What I find a bit scary is the fact that their webpage is crashing all the time. I doubt they have such an high load on buying the devices that it really has to go down (and it’s now the 2nd or 3rd time not available). Taking the Twitter retweets of their announcement (0 at the moment) - at least a small indicator that it’s not that much hype like the page down due to load could indicate.
What do you think about it?
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I’ve looked at their website and 6 months warranty on these things ?
Is it that crap ?All my GPU stuff has 3 YEARS warranty so anything that dies within these 3 years is replaced by warranty and as it is COTS very fast replaced.
Try to get some ‘spares’ of these ASIC’s…dont think so…So best thing we can do in my opinion is to keep on mining with these GPU’s, by the time the ASICS are really available we already collected so many coins that the investment has been paid back so its just electricity by then.
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[quote name=“iawgoM” post=“49658” timestamp=“1388825151”]
Actually, seems legit…not! :)
https://litecointalk.org/index.php?topic=2859.255
[/quote]Thanks for the link ;)
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[quote name=“Kevlar” post=“49534” timestamp=“1388773199”]
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]So would it be possible to change a coins algorithm?
If this can happen would the users go a long with the changes?
If it did start to happen what impact would this have on the industry and said progress? -
[quote name=“Calem” post=“49667” timestamp=“1388828699”]
[quote author=Kevlar link=topic=6620.msg49534#msg49534 date=1388773199]
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]So would it be possible to change a coins algorithm?
If this can happen would the users go a long with the changes?
If it did start to happen what impact would this have on the industry and said progress?
[/quote]It would be possible to change proof of work and cripple all scrypt ASIC developers. But evolution is good, just like SCRYPT was never meant for GPU’s let alone ASICS, but there’s no stopping the human spirit!
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The reason Scrypt ASICs will not be as revolutionary as SHA256 ASICs, is because there is already a lot of economies of scale with the GPU. The scrypt ASIC (when it comes) will not be so much more efficient than the GPU for Scrypt as you are calculating.
ASICS will come, live with it. It is a major part of the self building network.
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[quote name=“unkunku” post=“49717” timestamp=“1388850215”]
Very interesting to see how this will develop.The cost/hashrate is really not that good to warrant pre-order. Especially if they fail to to make delivery in Q1.
I actually think this will help stop the rampant difficulty increases in script coins as new miners will get their money locked up in this possibly bad investment and others will be held off.
Could feathercoin make something like an asic-proof coin maybe? It feels very bad to have an increase in concentration regarding mining power. After all I believe a coin should be available for everyone to mine. Instead of going for coin security through hashrate one should make it through technological securities instead, so that regardless of hashrate on the coin it will always be secure.
[/quote]lets hope that one of those USB ASIC block eruptors for scrypt is out? :)
Mining for everyone :P
