Re:Bitcoin withdrawal processing suspended
by baddox on Tuesday February 11, 2014 @04:48PM
(#7220717)
The speed of an SCRYPT ASIC versus a SHA ASIC isn't really relevant. What's relevant is the speed increase that ASICs enjoy over CPU/GPU mining. Surely the relatively few people able to produce/afford ASICs for Dogecoin would be able to comprise a large portion of the Dogecoin network, just like Bitcoin ASIC miners comprise a large portion of the Bitcoin network.
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Re:Bitcoin withdrawal processing suspended
by dragontamer on Tuesday February 11, 2014 @06:33PM
(#7221372)
Compare current Scrypt ASICs. The best you can get today is 1350 GBP for a 5MH/s Litecoin ASIC that uses 70 Watts.
https://alpha-t.net/product/scrypt-asic-miner/
In comparison, your typical R9 290X is hitting 0.8 Litecoin MH/s in 300 Watts.
Your typical Litecoin ASIC Miner is ~26x more power efficient than a GPU.
The 290x hits ~850 MH/s with Bitcoin at 300 Watts. But ASICs will soon hit 600,000 MH/s at 300 Watts. http://www.butterflylabs.com/monarch/
Basically, BTC ASICs are 700x more efficient than GPUs. LTC (and other SCrypt ASICs) are expected to only be ~20x more efficient.
By making ASICs less efficient, it keeps more of the control of network in the hands of the individuals. SCrypt is the better hashing algorithm for ANY self-proclaimed libertarian, who wishes to remove power from the ASICs that have taken over the BTC network.