February 17, 2019, 04:54:33 pm

Author Topic: GLD to improvise against ASIC  (Read 8619 times)

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Offline sizzflair

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Re: GLD to improvise against ASIC
« Reply #15 on: March 25, 2014, 01:17:24 pm »
My goal is to become a billionaire.

Sent from my SAMSUNG-SGH-I317 using Tapatalk

Then you might want to get a few million Goldcoins now before it becomes the #1 digital currency.  :)

Not through coins :)
GLD: EDL7N74CoLBnp3M4rsrYV1jyKP3vUg7tKP

Offline Alpha

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Re: GLD to improvise against ASIC
« Reply #16 on: March 25, 2014, 01:33:36 pm »
My goal is to become a billionaire.

Sent from my SAMSUNG-SGH-I317 using Tapatalk

Then you might want to get a few million Goldcoins now before it becomes the #1 digital currency.  :)

Not through coins :)

I would be satisfied if GoldCoin made rich!  :)
GLD:  EEbzQ6sFXQGxsqG8Y3bFnXJdm2ADg81XDk

Offline dustint

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Re: GLD to improvise against ASIC
« Reply #17 on: March 25, 2014, 01:38:05 pm »
our one month chart sure looks a lot better than most coins on cryptsy

Offline sizzflair

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Re: GLD to improvise against ASIC
« Reply #18 on: March 25, 2014, 02:45:47 pm »
our one month chart sure looks a lot better than most coins on cryptsy

Because most coins were made after the bubble in december...
GLD: EDL7N74CoLBnp3M4rsrYV1jyKP3vUg7tKP

Offline jkeefer

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Re: GLD to improvise against ASIC
« Reply #19 on: March 25, 2014, 02:50:51 pm »
I think the website could use a rebuild.  The models are wearing fashions from a parallel universe.  I am refraining from saying what I really think, because it would be  meant as a joke but might be offensive to some.

All I know is Vertcoin is yielding 3 times the BTC per hash.  Seems the hashrates are halved by the scrypt-n, although could be I just need to optimize more.

I can't think about this at the moment, incredibly busy at work, but I am a bit concerned about GLD.

Good luck.

Offline sizzflair

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Re: GLD to improvise against ASIC
« Reply #20 on: March 25, 2014, 02:58:01 pm »
I think the website could use a rebuild.  The models are wearing fashions from a parallel universe.  I am refraining from saying what I really think, because it would be  meant as a joke but might be offensive to some.

All I know is Vertcoin is yielding 3 times the BTC per hash.  Seems the hashrates are halved by the scrypt-n, although could be I just need to optimize more.

I can't think about this at the moment, incredibly busy at work, but I am a bit concerned about GLD.

Good luck.

Message me your offensive thoughts so I can have some laughs (when you get a chance).

We are all concerned... hope I didn't stir up the pot,  but there were absolutely no active discussions lately.
GLD: EDL7N74CoLBnp3M4rsrYV1jyKP3vUg7tKP

Offline MicroGuy

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Re: GLD to improvise against ASIC
« Reply #21 on: March 25, 2014, 04:18:14 pm »
our one month chart sure looks a lot better than most coins on cryptsy

Indeed!

Just to keep everyone in the loop...  :)

A large independent investor (not a dev, staff, or team member) sent me a courtesy message a couple of days ago and said that over the past few weeks that he had sold over 2 million goldcoins on Cryptsy. I can only imagine how this has impacted our market price considering the storm that altcoins have been weathering lately.

Anyway, he still holds a substantial position but said in the message that he is holding the rest. I think the fact that we stayed above a penny in the face of that kind of selling speaks volumes for our strength.

On a more positive note, we've had more new members join the forum during the month of March than the prior few months combined. And I'm getting flooded with emails and messages from people interested in Goldcoin. It looks like the weather is clearing a bit now and that we're about to make a turn towards clearer skies. (:D)

Viscis made a project board on Trello today with various tasks and goals. I'll start a new thread in the Project Development forum today with a link to the board.

Edit: Here's the link: https://www.gldtalk.org/index.php?topic=2423.0
« Last Edit: March 25, 2014, 04:40:41 pm by MicroGuy »
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Offline sizzflair

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Re: GLD to improvise against ASIC
« Reply #22 on: March 25, 2014, 06:17:14 pm »
our one month chart sure looks a lot better than most coins on cryptsy

Indeed!

Just to keep everyone in the loop...  :)

A large independent investor (not a dev, staff, or team member) sent me a courtesy message a couple of days ago and said that over the past few weeks that he had sold over 2 million goldcoins on Cryptsy. I can only imagine how this has impacted our market price considering the storm that altcoins have been weathering lately.

Anyway, he still holds a substantial position but said in the message that he is holding the rest. I think the fact that we stayed above a penny in the face of that kind of selling speaks volumes for our strength.

On a more positive note, we've had more new members join the forum during the month of March than the prior few months combined. And I'm getting flooded with emails and messages from people interested in Goldcoin. It looks like the weather is clearing a bit now and that we're about to make a turn towards clearer skies. (:D)

Viscis made a project board on Trello today with various tasks and goals. I'll start a new thread in the Project Development forum today with a link to the board.

Edit: Here's the link: https://www.gldtalk.org/index.php?topic=2423.0

Thanks for the update.  Liking the project board.  Can't wait to be a part of the community that will overcome the challenges and make us grow, together.
GLD: EDL7N74CoLBnp3M4rsrYV1jyKP3vUg7tKP

Offline jkeefer

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Re: GLD to improvise against ASIC
« Reply #23 on: March 25, 2014, 07:19:57 pm »
I think the website could use a rebuild.  The models are wearing fashions from a parallel universe.  I am refraining from saying what I really think, because it would be  meant as a joke but might be offensive to some.

All I know is Vertcoin is yielding 3 times the BTC per hash.  Seems the hashrates are halved by the scrypt-n, although could be I just need to optimize more.

I can't think about this at the moment, incredibly busy at work, but I am a bit concerned about GLD.

Good luck.

Message me your offensive thoughts so I can have some laughs (when you get a chance).

We are all concerned... hope I didn't stir up the pot,  but there were absolutely no active discussions lately.

I have to apologize (again), it looks like the concern has already been addressed.  The site has been revamped.  I have been very preoccupied and had not visited the website in a while.

I'm an expert at putting my foot in my mouth.  I will let you know the joke when we have our millionaires party in Vail.  lol

Jamie

Offline Alpha

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Re: GLD to improvise against ASIC
« Reply #24 on: March 26, 2014, 05:26:42 pm »
our one month chart sure looks a lot better than most coins on cryptsy

Indeed!

Just to keep everyone in the loop...  :)

A large independent investor (not a dev, staff, or team member) sent me a courtesy message a couple of days ago and said that over the past few weeks that he had sold over 2 million goldcoins on Cryptsy. I can only imagine how this has impacted our market price considering the storm that altcoins have been weathering lately.

Anyway, he still holds a substantial position but said in the message that he is holding the rest. I think the fact that we stayed above a penny in the face of that kind of selling speaks volumes for our strength.

On a more positive note, we've had more new members join the forum during the month of March than the prior few months combined. And I'm getting flooded with emails and messages from people interested in Goldcoin. It looks like the weather is clearing a bit now and that we're about to make a turn towards clearer skies. (:D)

Viscis made a project board on Trello today with various tasks and goals. I'll start a new thread in the Project Development forum today with a link to the board.

Edit: Here's the link: https://www.gldtalk.org/index.php?topic=2423.0


That is very interesting.  I spend a lot of time on the GLD market at Cryptsy, and for some time I have thought that somebody was holding the market down. (But I figured it was to accumulate cheap coins)  I can't wait to see what happens next.  Because if this is true the price could make a nice little jump.  Right now the market depth really favors the buy side.  It would cost very little BTC to see a 50-100% rise in GLD.  This could get a little more exciting if we get a few more buyers!
GLD:  EEbzQ6sFXQGxsqG8Y3bFnXJdm2ADg81XDk

Offline Viscis

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Re: GLD to improvise against ASIC
« Reply #25 on: March 26, 2014, 05:49:03 pm »
This is true. Which is why we should focus on promoting the community and all the work people doing to make GoldCoin a success.

I'm excited!
GoldCoin: E4DhKLSjtgTkunKN7nx9Cb2nJ49uf55puy

Offline aaelim

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Re: GLD to improvise against ASIC
« Reply #26 on: April 04, 2014, 10:07:16 am »
I've been away from this site for some time, but it appears gldcoin is actually starting to trend up a bit   is nice to see.
« Last Edit: April 04, 2014, 08:38:28 pm by aaelim »
GLD: ECpy5SXgn3zvoLPFdYoZHyXtuPME4oEfW9

Offline Alpha

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Re: GLD to improvise against ASIC
« Reply #27 on: April 04, 2014, 05:13:59 pm »
our one month chart sure looks a lot better than most coins on cryptsy

Indeed!

Just to keep everyone in the loop...  :)

A large independent investor (not a dev, staff, or team member) sent me a courtesy message a couple of days ago and said that over the past few weeks that he had sold over 2 million goldcoins on Cryptsy. I can only imagine how this has impacted our market price considering the storm that altcoins have been weathering lately.

Anyway, he still holds a substantial position but said in the message that he is holding the rest. I think the fact that we stayed above a penny in the face of that kind of selling speaks volumes for our strength.

On a more positive note, we've had more new members join the forum during the month of March than the prior few months combined. And I'm getting flooded with emails and messages from people interested in Goldcoin. It looks like the weather is clearing a bit now and that we're about to make a turn towards clearer skies. (:D)

Viscis made a project board on Trello today with various tasks and goals. I'll start a new thread in the Project Development forum today with a link to the board.

Edit: Here's the link: https://www.gldtalk.org/index.php?topic=2423.0


That is very interesting.  I spend a lot of time on the GLD market at Cryptsy, and for some time I have thought that somebody was holding the market down. (But I figured it was to accumulate cheap coins)  I can't wait to see what happens next.  Because if this is true the price could make a nice little jump.  Right now the market depth really favors the buy side.  It would cost very little BTC to see a 50-100% rise in GLD.  This could get a little more exciting if we get a few more buyers!

I really hate to say I told you so... buy, ya, I told you so!!   ;D
GLD:  EEbzQ6sFXQGxsqG8Y3bFnXJdm2ADg81XDk

Offline Stouse49

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Re: GLD to improvise against ASIC
« Reply #28 on: April 06, 2014, 01:26:13 am »
dont quote me on this but i think the new client will be asic resistant.  An ASIC will only find 5 or 6 goldcoin blocks per 10 min. and by that time the block reward will have decreased.  With a multi-threaded client i think timers can be set to ensure blocks keep rolling in on a 2 minute average no matter what the diff. and hashrate is at.  So if a multipool or ASIC jumps on they will receive a lot of orphan blocks and when they are done blocks should still keep rolling in on a 2 minute average.  Many coins are going to fall hard due to difficulty becoming locked really high.  Scrypt coins that survive this should do very well.  Maybe microguy or akumaburn can confirm this.

ASIC resistance has to do with the proof of work hash and how difficult/expensive it is to build such a device for a particular hash.  We have heard about scrypt ASIC miners under development and for preorder.  Eventually, if scrypt ASIC systems catch on, they will put GPU miners out of business just like they did for Bitcoin.  There was a time last year when it was more profitable for me to mine bitcoins with my GPU than for Litecoin.

The new client for GoldCoin and its 51% defense provide certain advantages regardless of what hardware is being used to mine.  If some miner started using some 5MH/s ASICS for Goldcoin, it would be the same as if that miner had build several rigs with 8x 7950 GPU's.  Either way, he would get orphans, etc, as he pushed the 2 minute per block minimum limit.  The difficulty would rise to the correct level for the network hashrate over the course of several hours or a day.  If hundreds of ASICS were put on Goldcoin, then the CPU and GPU miners would be spending more on electricity than what was mined and give up!

If we wanted to GoldCoin to become ASIC resistant to allow the miners to continue using their current GPU hardware without the ASICS pushing the difficulty up (as it happened with bitcoin), then we would need to change the proof of work hash.  One group was suggesting this for Litecoin and the main developers rejected it.  Some have suggested X11.  X11 is a combination of 11 ASIC friendly hashes and would only delay the time when an ASIC would be made for it.  Scrypt-N wounds interesting, because as N increases, the amount of memory required to do the hash increases.  More memory means more expensive ASICS.  To handle these coins, the ASICs would need to have enough memory.  After a certain point in time, they may not have enough memory to continue mining the coin.

Here are a few thoughts concerning Scrypt-N and ASIC resistance:
http://bitcoin.stackexchange.com/questions/22604/is-vertcoin-really-asic-resistant
GLD: E1A6WogjpqU3KjjoRUD63f7kofrFozmyfg

Offline bobbyk45248

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Re: GLD to improvise against ASIC
« Reply #29 on: April 08, 2014, 09:17:06 pm »
Hopefully GoldCoin will do what it has to to prevent ASIC mining. I will end up buying a dedicated mining rig soon to mine GoldCoin, but when the day comes that I am forced to pay for expensive ASIC devices to even have a chance to compete or earn a profit, I will likely give up mining completely.

It is nice to be able to mine and earn profit without being forced to sink a huge investment into mining.

I will call myself a "Recreational Miner" right now, even though I mine 75% of the time on my main computer and 100% of the time on my old computer. I use recreational because I haven't gone out and dropped any large amount of cash into my mining desktop computers. I am able to make some profit still this way.

If ASIC takes over all altcoin, we will then be forced to become "Professional Miners", in which the investment to make any profit will exceed the average person's budget.

Hopefully GoldCoin does everything possible to keep GoldCoin fun and profitable for us "Recreational Miners".

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