I was browsing the Baikal X10 thread and what the OP said there, this was March 12:
I am building my own FPGA rig and after a detailed analysis of all current algorithms, I can say that all algorithms will soon be mined by ASIC/FPGA except equihash and ethash. Equihash will fall to ASIC's in about 6 years when we can get 144MB of SRAM on a single chip. Ethash will not fall to ASICs ever, in my opinion. The 2GB scratchpad is just too big.
Cryptonight and Cryptonight-Lite are mildly ASIC resistant. This means that even a dedicated unit like the Giant-N cannot 'crush' GPU's. It can beat them marginally in terms of ROI. But for other coins, ASICs crush the GPU's by hundreds of times.
Eric
Two things to to note: Equihash falls to ASIC in 6yrs and Cryptonight ASICs will beat GPUs only margnially.
So a couple of days later, Bitmain announced X3 with 10x Cryptonight performance than Giant-N, and equivalent to 100 odd Vega-64s.
And 2 months later, we have the Z9 Equihash ASIC.
And now I have my doubts on OPs assessments...
Edit:
This is proposed performance for Phi on VC1525:
Phi1612 (Luxcoin, Folm): 5.2GH/s (650MH/s per card x eight) ($456/day at Apr-30 prices)
So 650MH/s = 20x 1080Ti
That should be well within an ASIC range, if and when one emerges.
Edit2:
While the OP maybe an FPGA expert, he does not appear to have much experience in what ASICs can do. Bitmain has!