Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
AlexGR
on 03/04/2014, 17:48:42 UTC
At that time everyone will have ASIC chip in their tablets to help process transactions.
VTC is the only coin with devs laying out plan from the beginning to fight against ASIC.
I havent seen other coin devs mention they realize an active defense against ASIC is necessary.
Elitism is bad, so ASIC is bad for now before VTC goes mainstream.
My 2c.
+1.
Vertcoin developers are the only ones who said that they are ready to change POW function for VTC if ASICs will threaten VTC.
I sold 350+ LTC and bought 3700+VTC.

This is no guarantee. If Vert, says, attain Litecoin #2 status and goes to, say, 100-200-500mn market cap, an ASIC manufacturer could create 100 VTC asics and never announce them as such but simply use them to gain an enormous share from the mining (that more than pays out his own development cost). He'd simply spread his hashpower around to various pools so that his hashpower doesn't seem very concentrated, and then rape the network while everyone is thinking that its just GPU-farms hashrate since "there are no ASICs".

What then? If there are no announced asics how can the devs take the initiative to proceed to a hardfork? Based on what? The mere suspicion that there are ASIC miners out there in the wild?