Gridseed ASIC Miner for Litecoin and Bitcoin Mining ...
DualMiner USB 2 Gridseed Litecoin, Dogecoin, Scrypt Miner
Help with getting things to start mining scrypt currencies (using raspberry pi 2 , gridseed asic miner , & cgminer) . . .
Here's what I have & will be using (I already have the cables & power) : raspberry pi 2 Gridseed ASIC Miner for Litecoin and Bitcoin Mining --- 4 of these cgminer [ I followed this example for setting things up : https://www.reddit.com/defcoin/comments/23nvs1/raspberry_pi_asic_defcoin_mining_guide/ it is my understanding that any altcoin you wish to setup mining for , is done in this similar fashion ] I want to do scrypt cryptocurrency mining , I just want to understand how this is done .... ( I know there's a lot of tutorials out there & great vids , and I've done a lot of reading on all this matter , but I can't seem to get things working right , please help / advise ) Questions:
if I solo mine , what is the correct port # to use here (and is the below command formatted correctly more-or-less) :
sudo ./cgminer -o stratum+tcp:localhost:#### -u Username.Workername -p yourworkerpassword --gridseed-options freq=850 ( I understand I need to create my own pool , a pool of 1 , is considered to be solo-mining , correct ? How do I do this ? )
also , before I can solo-mine , I need to have downloaded & install the wallet for the cryptocurrency I am going to mine , correct ? And I understand there is some kind of Config files relevant that I should modify accordingly to set things up with my mining solo , right ? How is it done & where do I find this config files ??
I tried connecting my 4 gridseed(s) to my raspberry pi 2 , via the 4 usb ports it has , but it seems like it can't handle the 4 of them , so I have to deal with only using 2 of the gridseed(s) connected to my raspberry pi 2 at a time .... does this seem right to you ? And so , what work around do I have for this poroblem , I want to use all 4 of these gridseeds connected to my raspberry pi 2 ,,, I'm guess a usb hub is needed for this right ?
So sick of butt hurt GPU miners who started mining in December 2013, beating a dead horse over ASICs, an open letter to you all:
I know all of you that found crypto last November-December think that all the developers, community, merchants, and miners who have been with this for more than a couple months should hardfork Litecoin to meet your personal financial desires, and correct for your financial mistakes. I have made many mistakes in crypto too but was never so selfish and arrogant as to assume that coin developers and big serious miners should bail me out by changing their coin. I learned from those mistakes and moved forward. Give it a rest please. The developers have stated that the coin will not be forked for all you special butterflies that started running 1-4 cards in December 2013, and are now mad that didn't work out as you dreamed. No offense, you made very poor choices (I have made many very poor choices in my life, the key is how we handle them). I had run a 25 card mining farm from March 2013 to December 2013, and then sold all 25 cards on Ebay in late Decembeearly January 2014 at prices in some cases higher than brand new cost. I also SCREWED UP BIG TIME - I had a chance to buy a lot of Bitcoins at about $12 each when I first ran into this crypto phenomenon and I passed on them! I would be rich if I had the vision at that time to have purchased them. I did not buy any, and yeah, I felt bitter when they hit $1000 each, but I learned from this mistake and made better decisions moving forward with Litecoin. I did not expect Bitcoin to be hardforked for me! This was my personal failure and mine alone. I lay awake at night and think if I had just gone through with it and bought the Bitcoins! I don't know why KnC gets extreme hate. The Saturn made people ROI in weeks. The people who got the first Avalon miners made fortunes. The other ASIC companies are shadier, they are taking money but have no history of ever delivering anything (cough, Alpha, cough, Flower cough hint hint)! KnC is the only Scypt ASIC manufacturer other than Gridseed to have delivered a product in the past. So lets see if they get out 300mh/s Titan by the end of Q3 to customers - that is the agreement. Not to get off topic, but I am sick of hearing the incredible selfishness of those of you that made bad financial decisions in the heat of the moment in late 2013. If you had sat back and learned a little more about what was going on, you probably would not have bought AMD cards at silly prices that I knew would never ROI. Do you think you are the only one who has ever lost money on an investment? Also, please stop propagating the lie that Coblee made Litecoin to be ASIC proof. Coblee never intended that, and has said so years ago and recently. Instead of whining and being bitter, learn from your experience! Contribute something positive. Become a Litecoin merchant, learn coding and help with development, buy some Litecoins and hold them a while, contact existing Bitcoin merchants and ask them to accept Litecoin. This is s list of 1% of the things you could be doing other than whining that would have a positive impact on the community. Join the Litecoin Association at a minimum! Then people would want to listen and help you to focus on your success. There are other ways to earn Litecoins! Again, some of you made rash financial decsions, but it is not the responsibility of everyone else to tailor this coin to make up for your personal mistakes. Learn from it, move on, and stop beating a dead horse over an issue that is settled. I hope you don't make another bad decision and abandon Litecoin out of bitterness, as you will be just doubly bitter when Litecoin continues to succeed and the value of the ecosystem rises, and you realize how much you could have had. I wish you all wisdom and success but please stop your FUD campaign about ASICs, Litecoin, and the transition that is starting in mining. If you really can't get over your idea that the world should change for you personally, then move on to another coin, and leave us to succeed without your negativity. signed, Another newbie who is learning everyday more about crypto, a 15 month Litecoiner, a man passionate about the future of this coin, who is asking here for certain community members to grow up. That may seem harsh but is the truth of life, if you go through your life expecting the world to change to make up for what you dislike, be prepared for a bitter, dissapointed life. There is a lesson here anticipate change and profit from the change, be a part of the change, do not fight it. If you came with a positive attitude and took responsibility I think a lot more people would try to help you succeed in the future. My 2 "lites." ;) Big thank you to the community leaders and developers for the incredible patience shown to new GPU miners who had stars in their eyes. In the end they care about Litecoin, lets help them channel that energy into something positive for the coin.
WARNING: WALL OF TEXT, HIGH SCIENCE CONTENT Friends, shibes, it is my pleasure to speak with you for what I hope is the first and not the last time. I'm arrdem, I'm a Doge daytrader, economist and miner on the side, and a programmer during the day. Today I'd like to have a chat about some of the rumors with regards to ASICs and the X11 hash that have been floating around /dogecoin for the last few weeks and I hope bring some light to the discussions. On Scrypt What is special about our hash function? Why does Bitcoin use SHA256 and why does Doge use Scrypt? The hash function used by each cryptocurrency must have no known inverse function or algorithmic weakness which allows miners to cheat and compute nonces easily, and it needs to be easy to verify or recompute given an input. The first requirement is obvious in that if the hash function is weak, then someone can achieve a 51% attack potentially with less than 51% of the network's hashing power. The second is less obvious and is in fact entirely a performance issue. SHA256 is a known and trusted algorithm which has yet to exhibit any known weaknesses, and it is very very fast to recompute. This is why Bitcoin is SHA based. Litecoin, the intellectual father of Dogecoin, chose the Scrypt hash function because it was a memory bound algorithm. That is, the slowest part of computing the Scrypt hash of some value is waiting for values to be fetched from memory: an operation which it is amazingly expensive to make fast. The goal of choosing an artificially expensive hash function was to escape the Application Specific Integrated Circuits (ASICs or hardware miners) which had come to dominate Bitcoin mining. Because the SHA256 algorithm does not have large memory requirements, it was easy for Bitcoin speculators to develop cost effective hardware for the single purpose of searching for SHA256 nonce values. On ASICs Before we get to whether ASICs are good or bad for a coin, we must first assess why they made sense for Bitcoin so that we can reason about their impact on Doge. Because the computational power to find a nonce for any good cryptocurrency is expected to be large, that means there is a literal cost attached to processing each transaction on the network. While transactions may be nominally free or at least low fee, miners are really speculators expecting that someday the value of the coins they earn computing nonce values for blocks will exceed the operating costs and purchase costs of the hardware they mine with. This expectation that one day mining costs will be repaid is in fact the key reason that Bitcoin featured block rewards. The block reward was seen as a bootstrapping mechanic with which to buy hardware investment in the Bitcoin network through currency inflation. Now, ASICs and other mining hardware only pay for themselves if one expects to get enough return from block rewards and future coin price increases to cover the purchase and operating costs of the hardware. However, this is where the block schedule comes in. If we expect that thanks to the law of large numbers that one's return is on average the block reward times ones fraction of the network hashrate, it becomes clear that as the block reward falls it becomes very difficult for any purchased mining hardware to pay itself off let alone turn a profit especially as other miners purchase hardware to compete for the same block rewards thus driving up the hashrate. On the block schedule Looking at the Bitcoin block schedule, ASICs kinda make sense. The Bitcoin block schedule extends until 2140, at which time the "omega block" will be mined and the per block reward of Bitcoin mining will become zero. However until that time the per block reward will decrease 50% every four years. Today in 2014, the per block reward of Bitcoin is 25BTC and it won't change until 2017. That means that Bitcoin targeted ASICs can potentially run for three whole years or more and still have a reasonable chance of breaking even with no assuptions made about changes in the value of 1BTC. Doge's block schedule looks completely different. Where Bitcoin has a long tail on its per block reward extending out to 2140, Dogecoin will reach it's minimum block reward at block 600,000 in January of 2015, less than 14 months after Dogecoin came into being. With the 3rd halvening about 11 days out and the 4th on the horizon, by the time big boy ASICs for Scrypt start shipping in Q3/Q4, being September and later, the per block reward of Doge will have fallen to 31.25KDOGE and below. Third generation ASICs slated for December and January will likely never see more than 15.625KDOGE/block. On the price of Doge So what does this mean for the price of Doge? If the price of Doge doesn't increase at all, it's clear that the expensive new ASICs will never break even. This suggests that late comers with high powered mining hardware will be looking to recoup their investments and asking higher and higher prices for their Doge which should drive up the price overall. To put some numbers on this, at current prices and hashrate, accounting for halvenings, neither Gridseed ASIC even breaks even within 200 days if purchased within the next 48hrs. fn:1. Wait 30 days (after the comming halvening) and you don't come anywhere near break even. If I change my model to include some hashrate growth factor, the outlook is even worse. fn:2. This isn't bad news. This is awesome news for the price of DOGE. Lets say that Gridseed ships oh 500 units of their big boy ASIC, which may be conservative. fn:3 That's right, if hardware equivalent to 1K large Gridseeds came on in the next 30 days and ran at least for 200, doge would have to go all the way up to 702DOGE/USD just for them to break even! To the moon So where does this leave us. I think that the numbers I've presented here show that ASICs for Dogecoin are patently absurd, unless you expect to see a gargantuan spike in the price of DOGE which would make us all rich men anyway. While I'm willing to speculate on block reward (which is easy to model) and on hashrate which I assume is more or less linear, I have no mechanism with which I can confidently predict the price of DOGE out more than a week. Naive linear projections from our initial open of 80 satoshi to today's 126 satoshi over the course of four months suggests that in 200 days we could well see the ~300 satoshi prices which would make Gridseed and other ASIC miners profitable. However once you account for the high volatility of Doge, of Bitcoin and general market manipulation who knows if it'd ever go that high stably. So. To sum up. On the basis of these sketchy ROI numbers, I think that buying ASICs is probably ill advised. That said, I expect that people will buy ASICs and that in doing so they will drive up the price of DOGE at the same time as the supply of DOGE starts to dry up due to block reward decreases. I will be interested to see what happens to DOGE mining in January, as we will be the first coin to reach their steady mining state. I hope that the 10,000 DOGE reward per block will be sufficient to support the ASIC and GPU mining required to keep our hashrate out of 51% threat, but only time will tell. There is a real threat that the ROI of mining will be too low to justify the purchase of new ASIC let alone GPU hardware, which would lead to a falling hashrate and a credible threat of 51% vulnerability. However we could also see prices to go to the moon in which case that is no worry as high efficiency ASIC farms would take over mining securing the coin's stability more or less. I will note that no coin has yet solved the 51% threat issues posed by centralized mining, and I'm personally convinced that it's an intractable problem because as rewards per block decrease as for bitcoin, the costs of mining operations must likewise fall leading to greater centralization of compute power. By fixing our block reward we may. may. be able to dodge (ha ha) this issue however the essential drive to cut mining prices for ROI maximization will remain and will continue to drive mining centralization. With all this in mind, it's silly to talk about the adoption of X11 or another hashing algorithm, because if and when ASIC miners for DOGE become big business it'll already be too late and we will have already mined the vast majority of DOGE thus securing the distribution of DOGE away from the ASIC miners we seem to fear so much as a community. Making the switch to X11 simply delays the ASIC hardware which we want anyway due to the price increases it's likely to drive, forget about making us artificially dependent on GPU mining to secure our hashrate and creating an uncalled for blockchain fork. TL;DR
Stop worrying and love the ASICs, they won't make a ton of money and will secure our hashrate and by proxy our Doges!
STFU about X11. It's even more ASIC friendly than Scrypt, and we gain nothing from another blockchain fork.
Price projection: moon!
Open issue: How do we limit mining centralization without increasing inflation? Are we already at a balance point?
Thanks to Litecoin, My Busines is Nearing $1 Million in Sales
Its been awhile since I've posted on Litecoin, but I figured I'd share. Over a year ago, I got a few small investors to commit to a small Litecoin farm, since I got hooked on mining. The project grew very rapidly, because we just got in before the huge April 1st boom (when Litecoin went from 50 cents to $4 in a few days). Eventually, we decided to take the project larger, and launch on the now (regrettably) defunct LItecoin Global. I can't say enough how great the platform was, as we were able to raise the capital needed to grow the busines from a 100 square foot room to a 3,000 square foot facility. In the process, we pivoted from mining-only to hardware resales, as work on electric and HVAC took longer than expected. The result from that switch is that we've generated almost $1 million in revenues - all thanks to mining and using Litecoin. We re-launched our security in LitecoinInvest, and just started a new fundraising round on Havelock Investments. We're hopeful that we can get the fundraising goals met, because we can't keep up with product orders - for Litecoin or Bitcoin products. I know that Litecoin is down, but just remember that in a sea of alternatives out there, Litecoin is clearly defined as the other coin. To me, its not silver to Bitcoin's gold. Its a speedy Amiga to a ploddering Commodore 64 - sure, one is bigger, but its not better when I have to use it. In all the business we've done, there is a lot of interest in Litecoin on the hardware side. It hasn't stopped. Its stil there. You wouldn't have KNC, Gridseed, ZeusMiner, Alcheminer and others' working on ASIC projects that cost tens of millions of dollars. We've also worked with big retailers like Micro Center, and distributed Litecoin products to them. Everyone wants Litecoin to succeed, but its going to take more people talking about it - and the successes they've had with the coin, just like our business. So yeah, thanks to the /Litecoin, /LitecoinMining, and other Litecoin forums out there. I started when LTC was about 30 cents, and I'm excited for it to be $7!
Hello all, I want to star mining potcoin but I've been having some problems. First I cannot get my wallet to connect to any servers to update the block chain. I've put the correct server list in the configuration file and put it in my useroaming/potcoin folder. I was able to get the bootstrap to update but that only got me half way updated. I've opened up my firewall on my pc for potcoin.exe both in and out. This may be a firewall issue for my router, even tho I have Upnp enabled. Dose anyone know what ports the wallet runs on? Second I have 2 radon r900 series graphic cards in my pc. I've tried cgminer that is the latest version to support gpu processing and sgminer. I'm mining with prohashing.com pool. No matter what I do I can not connect to the pool. I've mined bitcoins in the past and never had any of these problems. I just bought a Gridseed Blade Scrypt Asic - 5.5MHs miner and will be hooking it up to a raspberry pi with the tutorial provided by http://highoncoins.com/litecoin-rig/how-to-make-gridseed-blade-mining-rig-pre-built-cgmine If anyone has any tips for getting my pc working, ide be very great full. I'm pretty sure I can figure out the grid seed asic scrypt miner. Thanks!
In my futile attempts to "predict" what is likely to come for Litecoin mining and out of my own curiosity, I found myself looking over hashrate data on CoinWarz, today. I have found it extremely interesting (and personally validating) to watch over the past couple of months, as the margin of profitability between Litecoin and all other coins has continued to widen. Only a couple of months ago, it wasn't hard to find a handful of coins that would be more profitable over a 14 day period, in spite of their difficulty fluctuations due to gravity well/Digishield adjustments. That ceased to be true a few weeks ago and now there is clearly no Scrypt coin that is more profitable than Litecoin, over a two week span. I expect that within a couple of months, there will be no Scrypt coin that is more profitable on a daily basis and the repeat of Bitcoin's transition to ASIC (in terms of the effects on competing coins) will be complete. Then, we wait and see if it has the same effect of raising peoples' trust and confidence that it did for Bitcoin. I have found myself wondering how much available Scrypt hashrate is represented by the other coins, which will start to bleed hashrate and die out over the coming months? It's impossible to know how much of that hashrate will simply stop mining entirely (Gridseeds that cannot pay for their operating costs, GPU systems) but it's valuable to know how much Scrypt hashrate exists, outside of Litecoin. Going down the list and tallying up the hashrates of the 46 Scrypt-based coins listed who have network hashrates above 1MH/s reported (excluding Pesetacoin, as it's merged mined and is unlikely to have any dedicated hashrate), it appears that there is only around 165GH/s distributed between these other coins. Litecoin's current network hashrate is around 720GH/s...it has over four times the network hashrate of all other Scrypt coins, combined. Anyone remember a time, "way back" in February, when Dogecoin had a higher nethash than Litecoin? If every drop of that hashrate were to migrate to Litecoin, judging by past increases, it would result in a jump of only around 4-5,000 in difficulty...it's roughly the same amount of hashrate increase that the network has experienced between July 10th and today. As the size and hashrate of the Litecoin network grows, the impact becomes increasingly negligible. So, the conclusion here is that there's no need to worry about the impact of hashrate from all the other Scrypt coins migrating back into Litecoin, from the mining perspective...its impact would be miniscule compared to that of the second generation miners.
Right now gridseeds and other ASICS are ballooning the scrypt network hashrate. The majority of the network will soon be ASICS on scrypt, therefore most of the miners will be able to sell their mined coins at a price much lower than everyone else and still remain profitable because of such low electricity costs. Another thing that is destroying the scrypt network is the huge amount of popularity surrounding the profit switching auto trade to BTC alt coin pools such was waffle/cm/mc. Each of these pools has 10-20 GH on them each and auto sell whatever they mine straight into BTC, when they do this they are emulating a ASIC miner who has no overheads, all of the miners are selling their minted coins without a thought on profitability, essentially they are giving away their coins for nothing. The price of all alt coins (and LTC now since the big pools mentioned earlier are just mining LTC most of the time anyways) just keeps going down like someone running down a hill. Vertcoin will be different because we 1) Obviously don't have ASICS, 2) don't have large profit switching pools built around scrypt-N atm, and if they ever do materialise you should avoid them like the plague because you saw what they did to the scrypt networks profitability, they are toxic and should be boycotted. Price will follow how much supply is incoming from miners, it's really simple. If you are a miner and you are not making "enough" <--(This is the global average over the entire network of what each miner thinks is acceptable), then you should hold your coins, until the artificial scarcity from this drives the price up to where you can remain profitable again. This is how Bitcoin works, most will not admit it and most will never give this theory the light of day, some are in denial, the point is whether or not you are consciously doing this, it happens anyways. The downfall to the scrypt network was 1) Profit switching pools auto selling everything into BTC 2) ASICS. Here's an example of the theory in work - AUR coin took rediculously long time to confirm mining rewards, 100 confirms and block time took ages, from the point of a block being found, it took over 24 hours to receive your coins. When they released it AURcoin, they set the price on the exchange between two insiders who had some pre mined coins, then external miners all hopped onto the network, with the "fake" profitability that they saw. Even i did it, i rented out 70mh to mine it and ended up losing 90% of what i paid to rent the machines. As all the miners piled onto the network, there was literally 0 supply of coins, and only the few speculators who were buying on the exchanges drove the price up during those initial few days of extremely limited supply. Ultimately this artificial scarcity drove it to such heights shortly after its announcement, but with such thin volume on the buy orders it collapsed. Also this theory coincides with my observations that profitability will always trend towards a "weighted average" across all miners on the network, which accommodates for all miners overheads, and a small percentage of profits. Right now the scrypt network is at the mercy of the BTC economy and any one still mining scrypt will soon have to either switch off or wait until the next BTC bubble to be profitable again, VTC can be different however. Viva Vertcoin, it will literally be a repeat of Litecoin itself.
Not sure if this is supposed to go here or in /cryptocurrency ...but I had some thoughts on AMD.... Bitcoin, an SHA256-based cryptocurrency has seen a progression in the evolution of mining tools. Originally BTC was mined using CPU but as the game evolved, so has the methods for mining. GPU mining became huge when people realized the engine used to power the amazing graphics you see in video games can be used to mine digital currencies much faster than a CPU. And in the realm of graphics cards, AMD held a superiorship to nVidia, granting hashrates many times that of nVidia. https://litecoin.info/Mining_hardware_comparison Recently came in the introduction of ASICs, or Application Specific Integrated Chip, a piece of hardware designed solely with one thing in mind: to mine currencies. This evolved from regular GPU mining, stripping away all of the unnecessary parts in a graphics card and extracting only the "brain" needed to mine bitcoins. In a nutshell we can see the progression of bitcoin mining from: CPU > GPU > ASIC (Basic processor > Powerful graphics processor > powerful processor with low power usage) Those who mine Bitcoins are those with lots of money to invest in ASICs, seeing as these go for thousands and thousands of dollars. ASICs are still extremely expensive, very few companies produce and sell them and those that do, are on backorder due to the overwhelming amount of sales they get. Then there are many more companies that are shady to deal with and underdeliver(if deliver at all). https://www.kncminer.com/categories/miners Because of this, a lot of players have left the bitcoin mining game and moved on to... Scrypt coins, a newer version of digital currencies came out and almost immediately skipped the CPU mining phase and jumped straight to GPU mining. With the formation of Dogecoins this past winter, scrypt coins became extremely popular. So popular that the prices on AMD graphics cards jumped sky high. AMD cards sold out globally while Amazon and eBay hiked the prices up to match demand. This occurred between December and January. Recently AMD cards are now in stock, and not only that, their prices have dropped. The peak of AMD has come and now we're moving over the denoument of GPU mining as soon, ASICs will be introduced to scrypt coins, with the earliest shipments already being sold. Many are planned for shipment during Q2 and Q3 of this year. http://cryptomining-blog.com/tag/gridseed-asic/ There is a silver lining however...purchasing a gridseed will still cost about as much as a GPU. The advantage is lower power consumption. In parallel, we see scrypt coins following the same evolutionary path as Bitcoin did... CPU(?) > GPU > ASIC So what's the point of my post? We've seen AMD have a great earnings report this past quarter, due to PS4 sales. AMD will most likely had another amazing quarter from the rise in popuularity of scrypt mining but I feel like for the latter half of 2014, AMD earnings won't have the support of GPU sales as it did anymore. TLDR: AMD has had great sales with the GPU mining trend ..but with ASISc, maybe this is coming to an end...
I just recieved the gridseed ASIC miner in the mail. I have successfully gotten it to mine litecoin in linux with cgminer. But unfortunately I haven't gotten it working with bitcoin. I am mining from slush pool and don't start telling me that it's not worth it. I didn't expect it to be, I'm just a hobbyist. I have the cgminer command written down. I have cgminer recognizing the gridseed device, I just cant get it to show that it has connected and start displaying the status of it's mining job. I can do it with ltcrabbit and hypernova but I am unable to mine bitcoin from slush pool. Here is the command I used cgminer -o stratum+tcp://stratum.bitcoin.cz:3333 -u baronobeefdip.worker1 -p **** Nothing is working, I want to know how I can make it communicate with the pool. I did download a special version of cgminer that was compatible with the gridseed device so I think it might need some updating. As for the device itself, the drivers for the console should be already in the kernel. I am thinking that there is more to be done here when it comes to bitcoin, I understand it's an entirely different animal and one cannot switch inbetween the two.
Fellow shibes, we have a problem: ASICs are beginning to take over and it's all corrupt.
Well, I'd have to say the day is here, we're past diplomacy and denial, ASICs have arrived and are already hashing at 25ghash for one user alone. This is destroying the stability of smaller cryptocoins as it nukes any smaller coin it mines. These 25 GH/s are claimed to be for testing purposes, but they have been mining long term. Remember where BitCoin is, many ASIC manufacturers either primarily mine themselves or have a single or small group of inside buyers. ASICs are a losing game for the common digging shibe, look at USB miners or any currently available SHA-256 ASIC, they are constantly losing value as the only ones currently available are not profitable over time. Our difficulty algorithm is susceptible to attack with as little as 30% hashing power and it can already be seen during difficulty spikes. The concentration of power amongst a small number of individuals has and will bring instability as well as a drop in value over DogeCoin. The ASIC problem has already been seen as people who bought first round gridseed miners find that they overpaid as well as were stuck with last generation hardware. The time for passivity is over, we cannot simply ignore this present threat. Some might say this is better since it is more power efficient, but concentrating mining can lead to corruption.
What can we do?
Chuck the chewing toys and start digging...for solutions
If we are the first coin to find a solution to the asic problem, we will be the leading cryptocurrency when this all blows over. LiteCoin gained popularity since it was able to allow everyone to mine, even CPU mine without barriers to entry. Combine that with our community and our massive market size, we could top BitCoin.
Merged mining IS NOT THE SOLUTION! Merely combining the mining effort of the two coins will not fix this.
Scrypt-n will not solve this as ASICs can and will adapt, and even faster than before now that templates exist and companies are already building them. ( How hard would it be for them to change a few things? )
A simple update might not fix this one, we might have to get complicated.
Remember, DOGE value isn't important, its allowing every shibes the ability to dig that is important. If you think it's not, please join BitCoin, look where that got them.
Please start posting ideas, we need Marty McShibe to start pestering Doc Inu and get all the Shiba Hawkings using their massive brains. I don't care if their crazy ideas, just post them, let's fix this thing! TLDR: ASICs are here, only you can prevent a total takeover. Post some crazy ideas to solve this! Also, could we get some visibility before the evil downrockets appear?
At present there are seven companies that are promising delivery of litecoin scrypt ASIC miners in mid 2014: Fibonacci, Alpha Technology, Flower Technology, Mining ASICs Technologies B.V., Zeusminer, KnCMiner and Bliss Devices. Gridseed is shipping now but their products cost more per kH/sec than the competiton. ASIC miners for litecoin promise significant advantages in power consumption and hashing power compared to GPU miners. Do not discount the significant advantage in lower electricity costs promised by litecoin ASIC miners: for many the lower power costs add greatly to the bottom line, and make a miner much easier to live with. Other than Gridseed, Fibonacci is generally regarded as most likely to ship first judging from posts and history on the Litecoin and Bitcoin forums. The developer has stated Fibonacci expects to be able to sell hosted miners in July 2014 for immediate mining. Any of the miners can be used for all scrypt based coins. This is a significant advantage over bitcoin mining, as your miner can be easily switched to other scrypt coins if they happen to be more profitable than litecoin based on current % profitability shown at CoinChoose. The least expensive scrypt ASIC miner will be the Fibonacci 8650 kH/sec Recursion miner that will cost $400 paid with bitcoin or $346 paid with litecoin. The miner with the most hashing power will be the Fibonacci Epsilon hashing at 315 mH/sec for $12600. The second most powerful miner is the KnCMiner 250 mH/sec Titan at $9995. Both the Fibonacci and KnCMiner models offer $0.04 per kH/sec hashing power. Fibonacci has announced that CACHeCoin will also be accepted as payment for their scrypt ASIC miners. We expect CACHeCoin prices to soar once Fibonacci is selling miners, so smart investors will buy CACHeCoin now, then use to buy Fibonacci miners at a discount as CACHeCoin prices rise. At present CACHeCoin can only be bought at the Poloniex exchange (symbol: CACH) by exchanging bitcoin for CACHeCoin. For perspective, if you built your own 3 video card 2000 kH/sec GPU mining rig you could reasonable expect to pay $1500 for the video cards, power supply, motherboard, and other parts. Two Fibonacci Recursion miners would mine at 17300 kH/sec and cost $700 - $800, half the cost of building your own GPU mining rig while providing 8 times the hashing power. Don't forget power consumption of the Fibonacci miner would only be 10 watts versus 900 watts for the three card GPU rig. Preorders for the Fibonacci Scrypt ASIC Miners began Monday March 17. There will be a limit of 128 chips per buyer. There is still time to buy CACHeCoin if you want to get the best price, litecoin and bitcoin will also be accepted for payment. Act fast, the preorder should sell out quickly. KnCMiner has announced their own Titan litecoin miner hashing at 250 mH/sec and costing $9995. KnCMiner promises to ship the Titan Q2/Q3 of 2014. Another brand new company Bliss Devices just announced by website they will be shipping scrypt-N ASIC miners Q4 this year. Bliss Devices is claiming "Neon is the only hardware miner in the industry able to mine any Scrypt-based currencies. Our machines use configurable parameters, which among other benefits means that you can also use our machines to mine Scrypt-N coins such as Vertcoin, Emucoin, Execoin, and Pandacoin." Here is a breakdown of cost per kH/sec for the six miners from published specs: KnCMiner - $0.04 per kH/sec - available Q2/Q3 2014 per website Fibonacci - $0.04 per kH/sec - available July 2014 per developer Alpha Technology - $0.10 per kH/sec - available Q2/Q3 2014 per website Mining ASICs Technologies B.V. - $0.137 per kH/sec - available Q3/Q4 2014 per website Bliss Devices - $0.18 per kH/sec - available Q4 per website Flower Technology - $0.19 per kH/sec - available August 2014 per developer Zeusminer S-Flex 8mH/s - $0.28 per kH/sec - available Q2/Q3 per website Gridseed - $0.49 per kH/sec - shipping now If you missed getting in on the ground floor of ASIC mining for bitcoin you may want to buy ASIC miners for litecoin as soon as they are ready to ship. For more information you can visit the Fibonacci SCRYPT ASIC miner or Alpha Technology Litecoin ASIC miner and Flower Technology threads at the Litecoin Forum. You can also visit the Mining ASICs Technologies B.V. website for more information on this new company and read comments at this thread at the Litecoin Forum. Group Buys Another option to consider is to buy a share of a hosted litecoin miner. The most powerful announced litecoin miner is the new KnCMiner Titan 250 mH/sec scrypt ASIC miner for $9995. A trusted member of the Bitcoin Forum, waldohoover, has already setup a group buy for KnCMiner Titans. The group buy will entitle you to 1/20 of mining proceeds from one Titan litecoin miner for only 1.0 bitcoin, see CoiningSolutions.com KnCMiner Titan Shares for details. Shares will sell out quickly so don't delay if interested. Titan #1 and Titan #2 are already sold out but Titan #3 group buy is still open. The administrator of the Litecoin Forum has just opened a similar group buy for the Titan also with 20 shares available, see Carnth's KNC Titan group buy for details[/url]. If you would like to get in on the group buy just join the Litecoin Forum and send a PM to Carnth. Fibonacci website - https://fibonacci.io Alpha Technology website - https://alpha-t.net Flower Technology website - http://flowertechnology.com Mining ASICs Technologies B.V. website - http://www.mining-asics-technologies.com Zeusminer website - http://zeusminer.com KnCMiner website - https://www.kncminer.com/products/titan Bliss Devices website - http://blissdevices.com/ Gridseed website - http://gridseed.com or see the Gridseed thread at the Bitcoin Forum.
[WTS] Gridseed Scrypt ASIC Miner (350+kh/s, ships from Los Angeles)
Selling for 15 LTC each, free shipping inside US. We accept Paypal, LTC and BTC (Crypto Currency Preferred!). If you're interested in bulk orders, PM me and we can work it out to get you the best deal possible. Like the title says we're selling the Gridseed ASIC miner's at a competitive price. Here's some information about the product. -Mines at around 350KH/s -Low Power Cost (7 Watts when mining SCRYPT) -Capable of both SCRYPT and SHA-256 (Runs better when you do either or) -Comes with USB cable(It requires 12V adapter at up to 5AMPs for mining. ) There are a lot of inexpensive options via e-bay for adapters. Feel free to message me if you have questions about this. http://p.lewd.es/JnRV.jpg As this is my first post on this account here are a few places you can look up our reputation. http://www.ebay.com/uszoomhash (eBay Feedback) ZoomHash (bitcoin/litecoin talk username)
[USA-FL][H] Chromebox with Kodi, Apple Laptop, Windows netbook, HP Microservers, Android tablet, Cell Phones, 3d Printers, Xbox 360, Other misc items. [W] Paypal, Google Wallet
I have a bunch of different items for sale. All items do not include shipping. Please PM me your zip and I will calculate shipping. I will consider best offer on anything. I will also consider trades however I do not need anything specific so would prefer cash. I have prices listed for Paypal. I prefer google wallet and will deduct paypal fees. All items come in original box. If you would like any additional pictures please let me know. I also have available a $50 Google Play Credit that I am looking to sell for $40 Google Wallet Only. Must be activated by tomorrow (31st). Will send code via PM right after payment. Chromebox
Chromebox with Kodi installed - $160 each 3 available. They are all brand new. I have it setup to boot to Kodi. No addons or extras preinstalled (But can install on own) just Kodi. I find these much faster and more stable then android.
Zotac Zbox with Kodi installed - $200 Dual core Intel Atom with Nvidia ION Video, 2gb memory, 32gb SSD, Bluray reader, Card Reader, HDMI and optical audio out. I have kodi installed on it now but can install windows or linux as you choose. I had this as a media streamer on my tv. Worked great.
ASUS EeeBook X205TA 11.6" Laptop with 2GB RAM 32GB Flash - $150 This laptop is Like New. I purchased to install Linux on and find out wifi on board is not compatible with linux. I did finally get arch installed but wound up getting something that was more compatible. Currently has Windows 10 installed and updated.
Macbook Pro - $700 13" Aluminum Macbook Pro Model MD101LL/A Includes 2 AC adapters and Orange hard plastic spec case. 2.5ghz Core i5 Processor, Upgraded to 16 gb ram, Upgraded 320gb 7200rpm Hard drive (for data), Upgraded 120gb SSD for the OS (Due to 2 Hard drives, the dvd drive has been removed but is included)
FlashForge Creator Pro - $850 Each I just completely ran through and cleaned both printers. I have tested both with Abs and Pla with a few various prints. Each will come with a new roll of Abs filament. All parts are included and printers are fully functional. (2 available)
For Sale: 3MH scrypt ASIC complete setup USB combo miner on cryptothrift
For Sale: 3MH scrypt ASIC complete setup USB combo miner on cryptothrift for cryptocoins Tags: dogecoin asic, gridseed combo miner, litecoin asic, litecoin miner, scrypt asic, scrypt asic miner, USB ASIC Miner, usb asicminer, usb combo miner cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
For Sale: 3MH scrypt ASIC complete setup USB combo miner on cryptothrift
For Sale: 3MH scrypt ASIC complete setup USB combo miner on cryptothrift for cryptocoins Tags: dogecoin asic, gridseed combo miner, litecoin asic, litecoin miner, scrypt asic, scrypt asic miner, USB ASIC Miner, usb asicminer, usb combo miner cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
3 MH/S 3000 KH/S 3000 KH/S Miner 55nm 6 MH/S Asic Asic Miner Asic Mining ASIC Scrypt ASIC Scrypt Miner Big Bit Bitcoin Bitcoin Miner Bitcoin Mining Dual Miner GC3355 Gridseed Hybrid Miner Lil Bit ... Here you can see us testing the Gridseed Asic Scypt Litecoin and SHA 256 Bitcoin Miner. Here we were over clocking the 10 Module "Lil Bit" package on Scrypt mining, doing over 3.5 MH/s. We are now ... Robert Kiyosaki 2019 - The Speech That Broke The Internet!!! KEEP THEM POOR! - Duration: 10:27. MotivationHub Recommended for you gridseed BTC<C Asic miner review http://xbitcoinx.com/Bitcoin_Mining/65972 The best sleeping position for back pain, neck pain, and sciatica - Tips from a physical therapist - Duration: 12:15. Tone and Tighten Recommended for you