Quote from: minedeep on March 17, 2013, 11:07:16 PM

I've been mining litecoins all weekend and its been a good move. Bitcoin will always be big brother and litecoin will be its little brother. When someone joins the forums, usually they have a bitcoin address posted in the footer of their message. After another week, you'll more likely than not see a LC address posted right under it. This is a trend I've been observing for months here (yea, i lurked for a while).

My thoughts are, GPU mining isn't going anywhere. As soon as ASICs start running into technical difficulties such as hardware and software issues (remember, ASICs are still pretty beta), theres going to be a balance. If your hardware goes bad with an ASIC, you can't just quickly throw $100-$400 at the issue to make it go away (price of a mining GPU). You have to deal with your supplier whos dealing with 100's (if not 1000's) of the same issues with other customers. A dead GPU is a quick fix on the hardware forum here as theres always good cards relatively cheap and quickly delivered. Hell, you might even be able to find something at a local shop. More miners are going to be needed, not just better hardware. I've seen plenty of people with the money to get into a bleeding edge business, screw it all up because it was beyond them. If you think just because somene got an ASIC they can mine at max GHash/s for extended periods of time, your wrong.

What I'm getting at is, people have been talking ASIC since the middle of last year, with next month being the month its gonna ship. I'd rather get in now while the bitcoin is under $50 USD. High for last year, but theres way more room for it to go up. Shit just went mainstream (talking bitcoins on bloomberg? wtf!). All the hipsters with disposable money want 'coins cause its cool and the rest want the freedom that it brings. Theres a demand. When demand rises beyond supply, so does the price.

Thats just my two cents. Sorry for ranting.

I got all my info from this video Cheesy

http://www.youtube.com/watch?v=WdrSP0V-KLg

You actually make a very good point about technical difficulties, and if you look at the computer industry as whole there is a huge investment in the support of both hardware and software. If the ASIC producers dont have this support mechanism in place then my guess, and it is just a guess, is that we will see the total network hashing power bouncing up and down for a number of months.