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As others have said ASICs have made it impossible to mine Bitcoin on normal hardware at any sort of profit. However, there are many ASIC-resistant cryptocurrenc
by zeven7 10y ago
As others have said ASICs have made it impossible to mine Bitcoin on normal hardware at any sort of profit. However, there are many ASIC-resistant cryptocurrencies out there that may be worth looking into. The most well-known is Ethereum, but there are others with different strategies. Which would be best probably depends on your specific hardware (some are probably more CPU-friendly while others are better for GPUs).
- davidgerard 10y ago> ASIC-resistant cryptocurrencies No such thing. If it relies on a Proof of Work hash, it can be put into a chip, and specialist hardware for a simple function will always be more efficient (hashes per watt) than general hardware. The main barrier is not capability, but bothering to. Proof of Stake would be different, but all examples are presently experimental.
- tromp 10y ago> more efficient (hashes per watt) than general hardware That's not the only relevant measure, since specialist hardware must be designed and produced. For a memory-latency bound PoW requiring hundreds of MB, it's far from certain that custom designed RAM can compete with commodity RAM. For instance, SRAM is one order of magnitude faster than DRAM, but two orders of magnitude more expensive, making it much less suitable for mining.
- zeven7 10y agoASIC-resistant != ASIC-proof There is such a thing as ASIC-resistant cryptocurrencies as evidenced by the fact that there are many cryptos in existence today that have been around for longer a year and have no ASIC mining yet. OP can mine on this today and not have to compete against ASICs.
- davidgerard 10y agoThis may be the same problem as DRM, i.e. someone has to care first. Even Litecoin eventually got ASICs.
- deleted 10y ago[deleted]