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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 666

post #6651 of 22539
Quote:
Originally Posted by blkdoutgsxr View Post

I believe the company is Alpha Technologies that is claiming to have them for production early 2014. There is not a lot of information out there because until they ship and are tested people will be very skeptical about it. ASICs for script are much more complex and people thought it would take longer to figure them out, but they claim they are only a couple months away. You can read up on it here : https://alpha-t.net/

That would be very cool if more online shops started accepting crypto but I think it is unlikely. They are too volatile for major companies IMO. People who are pumping and dumping are really doing a disservice to the idea as a whole, they are getting somewhat wealthy off the idea, but for those who want crypto to succeed this is a major problem. If you were a business would you want to have to worry about your sale halving in value in a 12 hr period, probably not. The problem only worsens when you think about the value taken away from other currencies because people are trading up to 'legitimate' currencies such as litecoin and bitcoin by mining all of the coins that are worthless after they are dumped. This all sounds pretty doom and gloom, but I am still having fun mining. I would just do a WHOLE LOT of research before you invest that kind of money. I invested about $500 of money I was content with never getting back.


Edit: Also make sure you take some information with a grain of salt. No offense to anyone here, but the crypto mining community is full of people that just assume it is a get rich quick deal. These tend to be the people who are non stop complaining all over the internet about mining. Having a good understanding of how currency trading sites work, how and what new coins actually are, different types of payouts, and just an overall knowledge base will save you from being one of those complainers.

ive bee doing ALOT of research. I mean based off previous trends it sounds like a sound investment but i wanted some opinions of people who have been at it for a while an know more than me. also wouldn't having a floating cost of btc using a basic algorithm to calculate how much BTC is equal to the price if the item based off of a main source like mtgox solve the large issue of losing money on btc for stores?

That ASIC for Scrypt is definitely interesting and needs more research looks like they estimate a tentative shipping date of April or May for the first units. Im curious of what the pricing willl be because I wont be anywhere near 25mh/s with over 6k invested so if they are even priced like butterfly labs units i may look into preordering.
post #6652 of 22539
Yeah, if ASICs for Scrypt come aboard I might have to invest in one, there are loads more Scrypt coins than SHA-256 coins so the options are greater for mining hopefuls.
post #6653 of 22539
I'd cash in a lot of my scrypt coins and just buy one or two machines straight away
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post #6654 of 22539
@Racer - yes companies could do some pretty basic things to get the price for the item right now. But if I want to sell you something that has a value of 1000USD and I allow you to buy it for 1.6 BTC (or w/e it is right now) and the price tanks or skyrockets within a couple hours of the sale then one of us is out quite a bit of money. When currency is so volatile it will leave someone feeling screwed on almost every deal. So why would a major company take on the risk of either getting screwed, or making the customer feel screwed. How would they deal with returns? You better believe I am going to want my 1.5 BTC back after the value of them skyrockets. There are just too many moving parts ATM and it would be a disaster if a major company tried to do it as the market is currently. Also what would a company really be gaining? The target demographic who has BTC right now is so tiny it is basically negligible, too much hassle for almost no reward (From the company perspective).... Once the market stabilizes, if it does, it would be very cool if crypto took off in the mainstream.
post #6655 of 22539
Thread Starter 
If someone ever develops a scrypt asic, first, he'll need a massive budget cause the memory bandwidth needed for that would make it really expensive to develop, and second would have to deal with hordes of angry gpu miners with torches and glocks.

I mean, come on, it would SUCK so bad! Mining feeds my 8 kids and pets! Don't take it away from me!! tongue.gif
post #6656 of 22539
^^ Ya I can definitely understand where someone would feel sore depending on the market and where stores would feel the need to protect themselves.

But back to my original question Is investing in hardware still worth the initial cost and will we continue to see the same trends in the alt-coin markets.

I mean a current 30 day ROI on hardware is tempting to anyone especially with sites like middlecoin that auto convert to BTC, and from what ive seen the last few months it seems to be about half of the par of 60 days ROI . However do we think this trend can contiune can the market stand up to a barrage of new coins being pumped for money and then left for dead or will we see people migrate over to more stable coins as time goes on exponentially increasing the difficulty of the coins thus reducing the ROI of hardware of any kind.

I am truly curious about this, from what ive seen the alt-coin market is the wild west where you can make a fortune or lose one in a matter of hours lol
post #6657 of 22539
Thread Starter 
Nothing new in that regard, there are always a host of alt coins coming and you can always mine them and then trade for btc or ltc with more attractive profitability figures, since last year. I say it'll stick around for a long while.
post #6658 of 22539
Quote:
Originally Posted by ivanlabrie View Post

Nothing new in that regard, there are always a host of alt coins coming and you can always mine them and then trade for btc or ltc with more attractive profitability figures, since last year. I say it'll stick around for a long while.

I would think people would catch on that they are buying a pumped coin and stop after a while

But assumng it stays the same then a large GPU mining rig is a solid investment
post #6659 of 22539

Hmm... the ASICs look nice and all, but I can't see them having a decent ROI unless they are at least half the costs of the GPUs needed for similar hashrates. Even then that's a month by today's standards, and I doubt anyone will be able to tell the state of the scrypt mining in 4-5 months.

 

That said, it wouldn't surprise me if there were a successor to scrypt, that similarly uses PoW and is best on consumer GPUs. It wouldn't surprise me if it were being worked on right now, in anticipation of the ASICs.

 

Quote:
Originally Posted by racer86 View Post

I would think people would catch on that they are buying a pumped coin and stop after a while

But assumng it stays the same then a large GPU mining rig is a solid investment
 

Big assumption. I'm hoping to get a decent amount from the EAC I mined, hopefully enough to cover the potential losses (from depreciation) of a big mining operation (like, 12 GPUs).

How long does it usually take for a new coin to make it to an exchange? Nothing viral like doge, just the smaller coins.


Edited by Moragg - 12/22/13 at 6:17pm
post #6660 of 22539
Quote:
Originally Posted by note235 View Post

overstock presents an interesting situation

personally I would invest in some gpu mining

If I had sold my dogecoin when they were at 200 each I'd be feeling pretty great
but even with speculation you can make back a lot of the money in 1-2 weeks

remember cpumining
all i hear from the CPU mining crowd is rent cloud power too ruin your miners lol
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