I'm having this problem:
I just want to point out that there is no such thing as an "ASIC Proof" algorithm.
I also want to point out that there's no such thing as an "ASIC-Resistant" algorithm.
While I'm at it I'm going to go ahead and point out that THIS:
Is NOT an asic.
Now for those of you that are crapping yourselves right now and about to flip out and call me crazy, I'll clarify.
That black box is a special purpose computing device, that uses 1 or more ASICs to achieve it's goal.
These:
are ASICs.
Now anybody that wants to argue that there can be an ASIC-Proof algorithm that a general purpose processor such as an i7 can compute just needs to put on an idiot hat and go sit in the corner. Yes, I know that's rude as hell but, c'mon.
ASIC Resistance is a real condition, but it has ABSOLUTELY NOTHING TO DO with the encryption algorithm in use.
It's simply an economic situation, and it's fluid.
Litecoin (and other coins) are not ASIC-Resistant in any inherent fashion, and they're certainly not using "ASIC-Resistant Alogrithms". They're just not currently worth the bother.
If you are backing a coin because you think it is "ASIC Resistant" you're going to learn that this is a self-defeating goal when that coin actually achieves any significant real world use.
I just wanted to make a separate thread for this because there are SO MANY THREADS that I want to post it in. I hope that someone out there feels helped by this explanation.
Whew, all right fit over - Carry on.
I just want to point out that there is no such thing as an "ASIC Proof" algorithm.
I also want to point out that there's no such thing as an "ASIC-Resistant" algorithm.
While I'm at it I'm going to go ahead and point out that THIS:
Is NOT an asic.
Now for those of you that are crapping yourselves right now and about to flip out and call me crazy, I'll clarify.
That black box is a special purpose computing device, that uses 1 or more ASICs to achieve it's goal.
These:
are ASICs.
Now anybody that wants to argue that there can be an ASIC-Proof algorithm that a general purpose processor such as an i7 can compute just needs to put on an idiot hat and go sit in the corner. Yes, I know that's rude as hell but, c'mon.
ASIC Resistance is a real condition, but it has ABSOLUTELY NOTHING TO DO with the encryption algorithm in use.
It's simply an economic situation, and it's fluid.
Litecoin (and other coins) are not ASIC-Resistant in any inherent fashion, and they're certainly not using "ASIC-Resistant Alogrithms". They're just not currently worth the bother.
If you are backing a coin because you think it is "ASIC Resistant" you're going to learn that this is a self-defeating goal when that coin actually achieves any significant real world use.
I just wanted to make a separate thread for this because there are SO MANY THREADS that I want to post it in. I hope that someone out there feels helped by this explanation.
Whew, all right fit over - Carry on.