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Post by galvin on Mar 30, 2014 14:31:34 GMT -6
bitcointalk.org/index.php?topic=549572.0What concerns me is enough coins switch over to asic resistant. Our investment is going to never make a return or very small. That's my concern. The longer this project takes to get off the ground and have all miners going. The lower our return may be. Glad I only went in this with one btc. But I been trying to sell my shares for weeks. I think I wont even break even now. I would have to make 1 btc with 500K shares to do so. With all this asic forking, its looking unlikely. Any thoughts?
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Post by fasbit on Mar 30, 2014 23:34:00 GMT -6
LTC was invented due to ASIC mining, Quark was invented to counter GPU mining. I used to mine BTC with a CPU... its a never ending evolution or technology... I say bring it on... changes that are not good will kill the species... changes that are good will help it survive...
BTC is ASIC and alive and well.
The chances of someone who is not an LTC-dev forking LTC and making it work is slim to none... they are just inventing a new coin.... LTC will survive no matter what they do to their fork....
I wouldn’t sell shares if I were you...
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Post by cryptodough on Mar 31, 2014 9:40:33 GMT -6
bitcointalk.org/index.php?topic=549572.0What concerns me is enough coins switch over to asic resistant. Our investment is going to never make a return or very small. That's my concern. The longer this project takes to get off the ground and have all miners going. The lower our return may be. Glad I only went in this with one btc. But I been trying to sell my shares for weeks. I think I wont even break even now. I would have to make 1 btc with 500K shares to do so. With all this asic forking, its looking unlikely. Any thoughts? Then we'll just mine a coin that is profitable and friendly for asics, ie Myriadcoin. Myriad takes the approach of "all miners welcome" instead of snubbing it's nose at a certain algo. I think this is great, and I think coins such as this are the ones that will survive long term. Ask yourself this question: What is more valuable, a network secured constantly by teraflops of hashing power and multiple algorithms? Or a network secured intermittently by maybe a gigahash or two by Joe Schmoe's at home who mine for 2 hours with their video cards? If that isn't just common sense, well idk how else to explain it. More value = higher price = more $$$. Litecoin is shooting itself in the foot if it does this, imo. |
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Post by imbiat on Mar 31, 2014 9:53:14 GMT -6
bitcointalk.org/index.php?topic=549572.0What concerns me is enough coins switch over to asic resistant. Our investment is going to never make a return or very small. That's my concern. The longer this project takes to get off the ground and have all miners going. The lower our return may be. Glad I only went in this with one btc. But I been trying to sell my shares for weeks. I think I wont even break even now. I would have to make 1 btc with 500K shares to do so. With all this asic forking, its looking unlikely. Any thoughts? Then we'll just mine a coin that is profitable and friendly for asics, ie Myriadcoin. Myriad takes the approach of "all miners welcome" instead of snubbing it's nose at a certain algo. I think this is great, and I think coins such as this are the ones that will survive long term. Ask yourself this question: What is more valuable, a network secured constantly by teraflops of hashing power and multiple algorithms? Or a network secured intermittently by maybe a gigahash or two by Joe Schmoe's at home who mine for 2 hours with their video cards? If that isn't just common sense, well idk how else to explain it. More value = higher price = more $$$. Litecoin is shooting itself in the foot if it does this, imo. the thing is, litecoin isn't doing this. this is just some person trying to get litecoin to do it. the litecoin devs do not support this according to this post: litecointalk.org/index.php?topic=18166.0 |
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