Let’s talk about ASIC mining

[Lisfin]

@johnwisdom

Give them monetary incentive and they will build an asic for any given algorithm.
They could build hybrid ASIC/FPGA and who knows what.

If bitcoin would switch to ProgPow I’d bet my a$$ off that if would take less than 6 months to deploy some machine that will have strong advantage over GPU.

If a custom made ASIC for ProgPoW had a advantage of 1.2x over a GPU then I think it was sucessful. Look at Ethereum, ASICs for that barely reach 1.5x over a GPU. This is how you combat them, making PoW that uses every part of a GPU, basically using the parts of the GPU that you cant just slap into a ASIC cheaply.

@johnwisdom

You know how much less it would cost bitmain,innosilicon and company to develop same spec gpu’s?

They could probly never come close to the speeds of GPUs currently released, guessing how Nvidia and AMD have been spending millions of dollars over many many years to get to the point they are. To say Bitmain can create anything on par with Nvidia/AMD in a resonable timeframe is a joke and a discredit to the GPU companys.

@johnwisdom

I’d say small rally before sapling (150-160$), decline after sapling(120-130$), and then solid rise till christmas (444$).

Back to pricing…judging how alot of people are trying to sell coins to ROI on the ASICs before they become obsolete, + the GPU miners selling out, im guessing there is going to be more selling pressure and a climb out of this dip is going to be hard. Sad timing to be hit buy ASICs imo, during a huge crash, such a drastic change for the network/community, this will most likely lengthen the recovery time.