Quote from: Bitinvestor on February 19, 2012, 07:54:38 AM

I see. You don't care about Litecoin, you just want some free money from your old stuff, just like the botnets. If that's the only reason for Litecoin's existence then why would anybody buy litecoins? To feed you and the botnets?

Not quite true - I would sincerely love to see a modern decentralized cryptocurrency make old-school notions of fiat currency like the dollar and euro completely obsolete. I didn't join this community back when BTC had a value of $0.04 each (nor do I mine LTC, currently worth less than a US penny each) hoping to strike it rich. Roll Eyes

At worst, you could say that I believe in hedging my bets. I won't buy $4000 in GPUs just to help seed a cyptocurrency, and if I make "some free money from your old stuff", hey, cool.

That said, we post in a community who already understands all of this (and still has legitimate disagreements - bordering on holy wars - on how it should all work). But fiat currency or not, any "money" other than food, shelter, and sex, has no value except what a sufficiently large population agree it has. We need to consider what the average Joe sees in this - And Joe has no reason to take an interest and play along if he can't join us without an unreasonable barrier to entry.

Bitcoin passed that barrier quite a few months ago, and today, "Joe" sees it as a subject of ridicule - "Oh, you mean that thing where the Russian mafia buys up all the ATI cards so they can launder their money?" (and don't even get me started on how many idiots haven't the faintest clue about the real meaning of a Ponzi scheme). A CPU-only (or at least, GPU/ASIC unfriendly) BTC variant, I believe, has a lot of potential to let all the latecomer Joes try to get into the game again.

Quote from: Schwede65 on February 19, 2012, 12:38:47 PM

haven't you realized, that sc is just cpu AND gpu-minable?

Haven't you (all) realized that if you can do it for LTC, you can do it for SC? Though different core algorithms, they use the same underlying assumptions about the cost of memory accesses to limit GPU performance - Which mtrlt may have proven false (we still have no proof of that). I mentioned both LTC and SC in my post because I mean to refer to both. Nothing short of a "hard" serial algorithm will prevent GPUs from doing it better than CPUs; that, however, would tend to break the whole idea of a distributed currency (if 200 people can mine independently more efficiently than one person with a bigger rig, then most likely so can 200 ALUs vs one full CPU).

I don't really have an answer to this, but I think we need to discuss it without disintegrating into "my chosen BTC variant works better than yours".