Quote from: kano on August 15, 2018, 01:58:55 AM

Quote from: xtraelv on May 28, 2018, 08:56:04 AM

...
October 09, 2011,[ANN] Litecoin accounced by Charlie Lee (SCRYPT)
https://bitcointalk.org/index.php?topic=47417.0
...

You named that one wrongly.

Litecoin is a [SCAM]

He created it with claims it was GPU resistant and you will also find me posting in there about it
saying he used scrypt settings low enough to fit in a GPU.

The truth was the coin creator was GPU mining for a VERY long time while everyone else was CPU mining, until he released the GPU code
(if my memory serves me correctly - though it may not - it may have been as long as a year?)

I haven't been around long enough to know all the scandals and accusations. I tried to look for the post but haven't found it yet.

This is why threads like this are so cool. Some of the Legendaries like yourself share their knowledge.

I suppose the same happened with ASIC mining. Some of the ASIC resistant coins like Monero experieced unusually high hashrates months before the ASICs were announced.

Scrypt was also supposed to be ASIC resistant too but eventually they figured out how to build a chip for it. Some of the early ASICs were horrendously expensive but also were current for a long time (Unlike sha256 which seem to outdate quite quickly)

Nearly all Algos now have ASICs with bitcoin leading the way for the fastest and most frequent improvements. All predicted by Satoshi. The next stage is embedded chips in devices like routers (already happening)

Personally I think ASICs are a good thing for coin networks that can maintain a decent hashrate to secure it.