Quote from: myriadcoin on August 10, 2016, 05:48:46 AM

Quote from: DigiByte on August 10, 2016, 05:02:47 AM

Quote from: myriadcoin on August 10, 2016, 12:52:37 AM

Quote from: Jumbley on August 09, 2016, 06:41:32 PM

Quote from: Danslip on August 09, 2016, 01:00:18 PM

When will the latest Myriad update be done for DigiByte? Swapping of algos and code base update.

who said we were doing that?

Do you really want to support Qubit ASICs? Qubit is an unpopular cousin of X11. The X11 ASIC market is already dominated by a couple of big players who are 'testing' their equipment till the difficulty shoots up and jacking up the prices of their hardware. I'm not criticising them for it. It's the name of the game. But realise how bad this is for DigiByte. Any X11 ASIC maker could easily support Qubit with practically no additional cost to them. The result is that the security of anything Qubit mined is now basically a subset of the security of X11 coins. That is, it's weak and highly centralised.

Yes, DGB is multi-algo, so the effect of this is mitigated. But with DGB's high inflation, do you really want 20% of all block rewards being instadumped at ANY price? That is what's going to happen.

I'm not trying to be antagonistic here. I've changed my stance on these matters lately. The more multi-algo coins, the merrier.

Thank you for bringing this to the communities attention. This is the first we have heard of these ASICS. Do you have any reading material on this? We are looking into our own unique algorithm that with be GPU, CPU friendly.

http://www.baikalminer.com/products.asp

The advantage of this new asic has practically been spent already before it publically went to market, I imagine. Any professional miner now using one, I say professional miner because asics are dedicated mining products, is currently looking at least half the year of mining before ROI is achieved. Anyone who has ever bought asics, knows that this time is going to increase with hashrate and that it will probably take much longer than the estimate which is based on an instantaneous calculation of what is currently happening. So it is unlikely that it is going to be an easy ride and the miners will have earnt the DigiByte they mine. By mining they will increase the network hash rate of the algorithm and therefore will increase the amount of hardware necessary to perform an attack on it, so improving security. What I am saying is that I do not believe this will be a disaster for DigiByte but that said, I wouldnt like the asic ratio to increase any further than this at this time. As DigiByte and Myriad grow, there will always exist a point where it becomes viable to develop and produce asics for the non asic algorithms. The network increases when this happens and is ultimately strengthened after the first mover advantage is negated. The same amount of coins will be mined whatever happens so I still fail to see your instamine argument. OC we can and probably will change algorithms that become asic when we become aware of them but I dont see that DigiByte is currently threatened. As I said in my opening statement, I think the damage has been done.