Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It

with KNC announcement of SCRYPT ASICS and friedcat not seeing them be a worthwhile investment. with the prices of other alts and interest in scrypt asics - does asicminer not find it a good market to explore as well. with a well made scryptasic this year (possible solo mining) it could give friedcat and AM further revenue, stronger foothold in cryptocurrency, diversification and many other benefits. someone should talk to him about exploring this option again.

The point in scrypt is that it's ASIC resistant and the Litcoin devs are against ASICs. They might very well alter the code or switch to sth else than scrypt and make your 10K USD scrypt ASIC into a very expensive doorstop (you could probably still use it as an electric heater, hoping it's not too noisy for the home).

I can see why FC doesn't want to ~~waste~~ allocate resources for developing a scrypt ASIC.

+1. scrypt ASICs dont make much sense. If a single cryptocurrency is to succeed it would be Bitcoin, otherwise it would be another SHA-256 coin that improves significantly in a few ways (such as smaller size blockchain, shorter block times, or the capability to handle much more volume) so that the massive pile of existing infrastructure remains useful and secures the network.

its like inventing the stone wheel, then deciding that the rubber-covered square is the real game-changer

I don't think they can force a hard fork given ASICs are rolling out and making an impact, it'll only destroy the coin by forcing a hard fork, so scrypt ASIC and coins are here to stay!

I agree that a hard fork would be destructive but I don't know if scrypt-coins are here to stay.

Correct me if I'm wrong but isn't the main purpose of scrypt to be asic resistant and now that asics exist we might see a new algorithm that is more gpu friendly and more asic resistant causing most gpuminers to switch and bringing down the value of scrypt coins as they do so.

I don't think there is a big enough market to justify the risks of creating a scrypt asic but then again the same could have been said a year ago with bitcoin.

you're ignoring the big picture, the realllly BIG picture. did gpus leaving bitcoin drive the price down? no, it drove the price up many times. why would you think the same thing will not happen with scrypt coins! bitcoin is great but just focusing on how great it is while avoiding the big picture is a dangerous task. if you can make more money building scrypt miners and selling them to the public than say "immersion cooling" than they should be "profit seeking". being altruistic and true to "bitcoin" doesn't matter since this isn't a "nonprofit" company.
friedcat is here to make himself a lot of money and make his investors a lot of money - no point to discuss whether litecoin will be around in x years when he can make a lot of money for himself and investors in the time being. go where the money is going.