Let's speculate about X11 ASICs...

vertoe

Three of Nine
Mar 28, 2014
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Today Chris (ltcgear.com) announced a 2nd generation ASIC which will be also do a good job "in the jungle of new alg[orithm]s"...

Quote:
The new ASIC won’t be the king in Litecoin, but it will survive in a farm, at the same time is doing the best job in the jungle of new algs with low-med difficulty. All this at a decent price.
Full announcement: ltcgear.com/time-to-act-the-second-generation

Is he talking about X11 maybe? I doubt he is designing ASICs for coins like VTC or FTC which tend to switch algorithms as soon as ASICs are available...
 

Ignition75

Active Member
May 25, 2014
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Ya, have a look at the stats on the product:

http://ltcgear.com/product/2nd-gen-pre-asic-share-10-unit/?apage=634

Product Description
This product will reserve the right to use of a 2nd generation ASIC equivalent to:
- 13000 kHs Neoscrypt algorithm
- 30000 kHs Scrypt algorithm
- 95000 kHs X11 algorithm
- equivalent of (27 – 30) x Radeon 290 Lyra2RE (estimate, final numbers after hard fork)

The payout algorithm is selected either by “coin choice” or best paying if neutral coin is selected (“BTC” or “LTC”). Other algorithms will be listed as soon as they are available.

This unit will pay 1/2.5 of Scrypt algorithm until 2nd ASICs are received (mid January)
 

vertoe

Three of Nine
Mar 28, 2014
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Ya, have a look at the stats on the product:

http://ltcgear.com/product/2nd-gen-pre-asic-share-10-unit/?apage=634

Product Description
This product will reserve the right to use of a 2nd generation ASIC equivalent to:
- 13000 kHs Neoscrypt algorithm
- 30000 kHs Scrypt algorithm
- 95000 kHs X11 algorithm
- equivalent of (27 – 30) x Radeon 290 Lyra2RE (estimate, final numbers after hard fork)

The payout algorithm is selected either by “coin choice” or best paying if neutral coin is selected (“BTC” or “LTC”). Other algorithms will be listed as soon as they are available.

This unit will pay 1/2.5 of Scrypt algorithm until 2nd ASICs are received (mid January)
Ah all right, I was blind. So it took exactly one year to develop an ASIC.

What does "pay 1/2.5 of Scrypt" mean?
 

Ignition75

Active Member
May 25, 2014
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Ah all right, I was blind. So it took exactly one year to develop an ASIC.

What does "pay 1/2.5 of Scrypt" mean?
Perhaps a little sooner, as Dual Mods have been available for a while too.

It's how much the shares will earn until the hardware arrives mid january, so you get 40% of existing revenues with the shares you reserve now, so they are at least earning until the hardware arrives.

Then when the hardware arrives you will have a choice of the aforementioned algorithms. We've been discussing this on Skype for a few hours now and that's the general understanding of this product.

V1 of his farm is all sold out now, these are more power efficient chips.
 

crowning

Well-known Member
May 29, 2014
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Is he talking about X11 maybe? I doubt he is designing ASICs for coins like VTC or FTC which tend to switch algorithms as soon as ASICs are available...
My experience from the last dozens or so ASIC announcements "ASIC equivalent to" means when you run it at a multipool with X11 payout you'll get that much.

They usually implement 'normal' scrypt or SHA256, nothing else.
 

Ignition75

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The interesting thing is, with the existing product Dual Mods, you can mine VTC or DRK. Everyone mines VTC cause it's more profitable.

With these v2 shares, it looks like the other coins will be more profitable so nobody will mine DRK directly. Currently you can buy twice the amount of DRK if you mine VTC and dump.

So, even with these FPGA's, Dark's resistance is stopping it from being completely raped.
 

Ignition75

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My experience from the last dozens or so ASIC announcements "ASIC equivalent to" means when you run it at a multipool with X11 payout you'll get that much.

They usually implement 'normal' scrypt or SHA256, nothing else.
This is the real deal mate, I've been using them for 2 months and have already made ROI...
 

Ignition75

Active Member
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If I understand right the DualMods were just quickly assembled FPGAs.

Thanks for sharing your thoughts! :)

(Are you preordering the new product?)
My pleasure mate.

I'm going to hold off for now, I sold all my GPU rigs and went all in with these guys, I'm really happy with my existing shares.

I think he's realised the V1 shares in his farm were almost too good, so he's tuned it down a little, without being able to predict the future current ROI on his new product is 4 months.

Then again, you never know what the future holds.

If you don't have any Dual Mods, I'd probably get some of these and stick em on DRK. If you do have Dual Mods I wouldn't bother to be honest.
 

Ignition75

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Most importantly, don't forget to put a little back into the community!

With my earnings from LTG Gear I'm renting GPU farms and donating a little to the DCT Mining Pool.

Take what you can get but don't lose yourself in the taking...
 

vertoe

Three of Nine
Mar 28, 2014
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Most importantly, don't forget to put a little back into the community!

With my earnings from LTG Gear I'm renting GPU farms and donating a little to the DCT Mining Pool.

Take what you can get but don't lose yourself in the taking...
That reminds me, the Litecoin Association (LA) is accepting asic share donations to pay developers and the LA regulary. Should we try something similar for Darkcoin?
 
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Ignition75

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That reminds me, the Litecoin Association (LA) is accepting asic share donations to pay developers and the LA regulary. Should we try something similar for Darkcoin?
Is that what TheMage is doing?

Damn Vertoe that's a spectacular idea... We could crowd fund some investment from the community then purchase some shares, using the income to pay the Darkcoin Foundation for developers... I'm not sure if many people will donate shares as the DRK community in general have refused to acknowledge FPGA's for x11.
 

drkhouse

Member
Nov 22, 2014
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What's the official darkcoin stance for Asic resistance so far?
let it be? or let's try and keep GPU's, CPU's in the game... mining for the small people?
 

drkhouse

Member
Nov 22, 2014
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ASICs are pretty fine. I dont see a reason why we should risk a hard fork to change the algorithm like FTC or VTC did...
Hardforks just to make them ASIC safe or ASIC resistant are not a solution.

A short term solution would be maybe limit the Hashrate per user/worker coming from the same IP or IP area.

a real long term solution would be ideal... fair distribution is always better.
 
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ritech

New Member
Nov 10, 2014
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asic miner company develop asic for drkcoin is a good thing . ltcgear and cleverhash? Hope knc join. Drkcoin new version accept asic sharing donations better.