Quote from: PyroClasTix on March 20, 2014, 03:17:02 AM

Quote from: hellscabane on March 20, 2014, 03:03:32 AM

Quote from: ebliever on March 19, 2014, 02:52:16 PM

This will crush the 90-99% of us who are GPU-mining and not interested in investing big $ on what has become an increasingly risky venture. I figured I'd be able to mine until 1Q2015, but now it looks like I'll be dropping out by mid-summer. By fall Scrypt mining will be concentrated in a small number of commercialized mining operations (or a few deep-pocketed individuals).

I wonder how that will impact the flood of altcoins? With fewer miners it will be harder for pointless altcoins to get any hashrate to speak of, which is a good thing. So fewer miners may result in a rallying around the more reasonable altcoins with the rest permanently dropping into the abyss.

I agree that this will have a centralizing effect on mining, but at the same time, I think this opens the door for some of the new generation of cryptocurrencies that are fervently being worked on. I think this is the catalyst that drives crypto-currencies into a new paradigm.

I agree that this will provide progress to scrypt coins overall, but it kind of forces the smaller miners out...which I don't like.

Yeah, the biggest drawback with ASICs is that it unintentionally punishes hobbyists that cannot afford the costs of these machines. However, I think as we continue to drive on this crypto-currency scene we'll continue to see blockchains that rely on different parameters that will allow hobbyists to continue to participate. The problem is that a lot of the people who came to this scene came in hopes for quick profit will see that there is a harsh underpinning in the crypto-currency world. And a lot of them will resist moving to another system that doesn't reward as handsomely as it does now.

The way I see it though, it's a cycle that continually grows.