Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin-Adaptive N-factor Scrypt-No more ASICs-[EXCHANGES/AMAZON/ATM/MERCHANTS]
by
AlterMiner
on 03/04/2014, 20:52:25 UTC
It's exactly the same with the collective delusion of cpu only coins that are at the same time mined by gpu clients that cpu miners are unaware. "It's a botnet", "it's a server farm" etc... yep, sure. That's the kind of delusion that awaits gpu miners when unannounced ASICs will take over. When you've played your own card by stating your intention that you'll shift PoW algorithm when ASICs get out, then it's simply logical that when ASICs are made, they will not be announced. They will simply mine on the network while everyone complains about how unprofitable the coins have become compared to the electricity that they are burning (because ASICs will be taking the bulk of the profit, masquarading as GPUs).

The cryptocurrency networks are more about securing the networks than benefiting a sub-optimal class of miners with excessive energy waste and low hashrates, like the GPU miners. And let's be honest here: Most GPU miners simply "love" certain coins because they can mine them and dump them. They don't care about centralization but rather maximum profit. That's why they end up in the largest pools, hurting the coins that they are mining.
Similarly made ASICs for Bitcoin/Litecoin which do not go on sale, and used by a small group of persons for mining. The situation is even worse, because this small group is confident that no one will disturb them.