Post
Topic
Board Altcoin Discussion
Re: Towards a better proof of work algorithm
by
elebit
on 19/08/2014, 21:08:10 UTC
Begging the question; is ASIC resistance actually desirable?

IMNSHO, absolutely not.

I don't think it is a coincidence that the price really took off when ASICs started to be commonly available. Even Litecoin, which was initially marketed as "ASIC-hard", rose slightly in value when scrypt miners sold in volume. It secures the blockchain against supercomputer attacks, and makes mining much more capital intensive (which requires a larger payoff, raising the bar on an acceptable lowest price).

There is also the matter of spyware and botnets, which can make a fortune on CPU or GPU mining. And anything ASIC-hard is likely to be GPU-hard, making this problem even worse. If the coin is successful, you won't stand a chance mining with your laptop anyway, so who would you rather see making the most from it? Botnet owners or ASIC mining farms?

I'm know exactly what my answer is. Satoshi made a good choice.