Who has ordered one of the Scrypt mining ASICS?

A

allen5055

[H]ard|Gawd
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I wish I ordered one of the new ASICS coming out for Scrypt mining but I missed the boat on pre-orders. Was anyone lucky enough to get one?

I know the company is untested, but the potential profits if it works out are considerable. 25Mhash at 700watts is a game changer once a number of those get out and hashing. This would be the first tier of ASICS, obviously the 2nd wave and onwards would be much better. The days of GPU hashing are coming to a close if these work out. If they work out I'd guess we have two more years. So... we must adopt ASICS as well to stay relevant.
 
Doesn't the value of each work unit go down drastically when the ability to produce them goes up drastically?

I'm trying to figure out how buying equipment solely for mining works as an investment in the long run. Seems to me like it's viable up until the point where the market is saturated with miners, then the bottom will fall out as far as the profitability of each work unit is concerned.
 
There were 10 made available for order I believe, no?

I think your information is a bit skewed, the units I saw at put out no more than a mid-range video card, but did it for less power and were quite expensive, (not to mention there were few available).

People have been saying the GPU hashing is coming to and end for the last 2 years, and mine are still hashing away.
 
You've never had to deal with ASICS before. 5-6 290's gives 5Mhash. They were selling the 5 Mhash machine for $2000+shipping and tax. They were selling the 25Mhash maching for 10k, which is equivalent to 28 290's. The math works out in favor of the ASIC, especially when you consider power.

If ASICS work, the 2nd wave will start to erode the value of GPU mining rigs.

Yes, your GPU's are still hashing, and they will continue to do so until ASICS control a large enough portion of the market share that your gpus are not profitable based on their power consumption.

I wish there were no ASICS at all so I don't have to keep upgrading. But unfortunately, there probably will be. Supply and demand.
 
allen5055 said:
You've never had to deal with ASICS before. 5-6 290's gives 5Mhash. They were selling the 5 Mhash machine for $2000+shipping and tax. They were selling the 25Mhash maching for 10k, which is equivalent to 28 290's. The math works out in favor of the ASIC, especially when you consider power.

If ASICS work, the 2nd wave will start to erode the value of GPU mining rigs.

Yes, your GPU's are still hashing, and they will continue to do so until ASICS control a large enough portion of the market share that your gpus are not profitable based on their power consumption.

I wish there were no ASICS at all so I don't have to keep upgrading. But unfortunately, there probably will be. Supply and demand.
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Where are these magical scrypt mining machines that put out 5-25Mhash? I would be they are for bitcoin mining, not scrypt mining...please show us links instead of useless information and rumors...
 
allen5055 said:
What, are you incapable of Googling? People have been talking about these for months.

https://alpha-t.net/product/scrypt-asic-miner/
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Hrm, imagine that, "coming soon"....just like it's said for the past 6 months.

Read the bottom of the page.

"Shipping is targeted for Q2/Q3 of Year 2014."

Thanks for filling us in on the information we've all known for the last 6 months.

No one here has one of the scrypt mining rigs because the one company who has made any shipped the ones they did make to Taiwanese customers only and they were no better than mid-range video cards. This has been discussed at length down in the distributed computing forums. Maybe try searching the forums first?
 
The biggest issue with ASIC miners many fail to realize is availability. By the time you get the machine delivered, like the 25k machine, it will be the end of 2014. By that time it will be worth 10th of what you paid for it. Many of the companies like butterflylabs and others over promise and underdeliver. Some shipments are slipping towards Q1 2015...
I think if you are big institution that can take the risk, then its the only way you can make it profitable with ASIC miners.
 
Pitbully said:
Hrm, imagine that, "coming soon"....just like it's said for the past 6 months.

Read the bottom of the page.

"Shipping is targeted for Q2/Q3 of Year 2014."

Thanks for filling us in on the information we've all known for the last 6 months.

No one here has one of the scrypt mining rigs because the one company who has made any shipped the ones they did make to Taiwanese customers only and they were no better than mid-range video cards. This has been discussed at length down in the distributed computing forums. Maybe try searching the forums first?
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Who said I was informing you? If you read my first post, I asked if anyone was lucky enough to preorder them.
 
Igroock said:
The biggest issue with ASIC miners many fail to realize is availability. By the time you get the machine delivered, like the 25k machine, it will be the end of 2014. By that time it will be worth 10th of what you paid for it. Many of the companies like butterflylabs and others over promise and underdeliver. Some shipments are slipping towards Q1 2015...
I think if you are big institution that can take the risk, then its the only way you can make it profitable with ASIC miners.
Click to expand...

What you're saying was true with bitcoins because new ASICs were coming out all the time, and the hash rate was increasing dramatically in the overall group. By the time you got your ASIC, months had passed and its hash was lower relative to the overall hash rate.

However, for scrypt mining the hash rate is not going up that dramatically currently because people are still limited to gpu's. The technology is not changing, and won't until AMD's new graphics card come out in 1.5 years or ASICS enter into the game.

These first gen ASICs are not that much more powerful than GPU's, but at least in my house it'd be much more feasible for me to have one $10,000 ASIC at 700watts than 28 R9 290's blowing my breakers.
 
Meh, from one side I'm happy that GPU availability and pricing issues will be solved once ASICs hit, from another I'm pissed off because Litecoin/Dogecoin will be once again taken out of the hands of normal people by corporations, like it happened with the Bitcoins.
The guys developing litecoin and dogecoin should really find a way to make ASICs impossible to use. Otherwise the "power to the people" philosophy of the cryptocurrency goes out of the window.
 
kache said:
Meh, from one side I'm happy that GPU availability and pricing issues will be solved once ASICs hit, from another I'm pissed off because Litecoin/Dogecoin will be once again taken out of the hands of normal people by corporations, like it happened with the Bitcoins.
The guys developing litecoin and dogecoin should really find a way to make ASICs impossible to use. Otherwise the "power to the people" philosophy of the cryptocurrency goes out of the window.
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I agree. There are a few rumors that the developers would change a parameter to make ASICS unusable, but I kind of doubt it. I really wish they would make it impossible to mine on anything other than consumer-grade hardware. It would be better if everyone was able to mine scrypt coins at least a little. That's why they were made, right?
 
allen5055 said:
What you're saying was true with bitcoins because new ASICs were coming out all the time, and the hash rate was increasing dramatically in the overall group. By the time you got your ASIC, months had passed and its hash was lower relative to the overall hash rate.

However, for scrypt mining the hash rate is not going up that dramatically currently because people are still limited to gpu's. The technology is not changing, and won't until AMD's new graphics card come out in 1.5 years or ASICS enter into the game.

These first gen ASICs are not that much more powerful than GPU's, but at least in my house it'd be much more feasible for me to have one $10,000 ASIC at 700watts than 28 R9 290's blowing my breakers.
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What he is saying is still true, it just isn't happening yet. Just because they are limited now doesn't mean they will be when the dam breaks. It will follow the same pattern as sha256 ASICs if it happens.

Also there are more ASIC-resistant algorithms coming out, and you will see a new batch of coins soon/already taking advantage of it. None of them have really gained much traction, though.
 
astyler said:
What he is saying is still true, it just isn't happening yet. Just because they are limited now doesn't mean they will be when the dam breaks. It will follow the same pattern as sha256 ASICs if it happens.

Also there are more ASIC-resistant algorithms coming out, and you will see a new batch of coins soon/already taking advantage of it. None of them have really gained much traction, though.
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Not yet, but once LiteCoin is monopolized by ASICs, people with GPUs will move on to other coins.
 
I believe Scrypt Jane coins are ASIC resistant for now, and also those Quark based coins.
 
It's a catch 22 with ASICs. They will strengthen the network and drive difficulty up so the miners that have been stockpiling coins will benefit from price appreciation due to further scarcity. Personally, I am not forking out $10k plus for something that may or may not be in my hands by 3Q '14 when I can continue mining with my existing GPUs.
 
Oh, you mean the scrypt ASICS that have been promised for over 2 years now by scammy companies taking no money back pre-orders while hash rate targets keep dropping and power targets keep climbing?

Those ones?

Talk about drinking the fucking kool-aid. If anyone is interested, I am developing a 500 g/hash, 200watt scrypt ASIC. Down payment is $5000. No refunds and I only accept Dogecoin.
 
SilverSliver said:
Oh, you mean the scrypt ASICS that have been promised for over 2 years now by scammy companies taking no money back pre-orders while hash rate targets keep dropping and power targets keep climbing?

Those ones?

Talk about drinking the fucking kool-aid. If anyone is interested, I am developing a 500 g/hash, 200watt scrypt ASIC. Down payment is $5000. No refunds and I only accept Dogecoin.
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Gridseed already released an ASIC Scrypt miner:
http://www.reddit.com/r/litecoinmin...dseed_releases_script_asic_capable_of_36_mhs/
http://www.reddit.com/r/litecoinmin...dseed_released_their_first_batch_ltcbtc_dual/

It's crap for now, but it proves that it's doable, and will be improved greatly in the coming months.
 
kache said:
Gridseed already released an ASIC Scrypt miner:
http://www.reddit.com/r/litecoinmin...dseed_releases_script_asic_capable_of_36_mhs/
http://www.reddit.com/r/litecoinmin...dseed_released_their_first_batch_ltcbtc_dual/

It's crap for now, but it proves that it's doable, and will be improved greatly in the coming months.
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Its doable, but its not doable on a scale at which GPU's are sold at. Its a good and bad thing, good thing because if everyone and their grandpa's ordered an ASIC machine then mining would be finished by the end of the week. Bad for those who actually want and AMD card to game. But again there is Nvidia...
Unless these ASIC companies open up huge factories (not going to happen) like AMD and Intel, there will always be shortages and delays. You simply cant get a decent ASIC unless you wait a year.
 
Scrypt mining will soon by done by more efficient devices than GPUs, but there's no need to despair just yet for GPU miners. I reckon we'll still be mining profitably for at least the rest of this year. After that, altcoins with different algorhytms will probably become more dominant while a few major scrypt coins get mined by dedicated devices.

It's worth keeping in mind that these scrypt asics are more efficient, but not all that much faster for the money. It's not a gigantic leap like SHA asics were, and as such it will take a long time for them to overtake GPU hashrate never mind 10-fold of GPU hashing.
 
Indeed, scrypt basics do not appear much faster than a good gpgpu, and are priced that way. Though they appear to consume much less power.

Alpha just lowered their power targets quite a bit:

5Mh<=70 watts

25Mh<=300 watts
 
Here is your Alpha-T storefront, people....
12600865.jpg
ASIC mining...lol.
 
I think those pushing ASICs are still missing the point. These companies, real or fake, will not be able to deliver. They will have to set up an enormous operation to supply everyone with enough units, which will cost hundreds of millions to meet demand. Not to mention continuous R&D which will cost even more.

Your average GPU miner will not spend the money or wait that long for an ASIC unit, it wont happen.
 
allen5055 said:
What, are you incapable of Googling? People have been talking about these for months.

https://alpha-t.net/product/scrypt-asic-miner/
Click to expand...

Yeah, people have been talking about that scam for months. it's created by a trustworthy fellow by the name of Mohammed Akram. Gee, I'd like to send him some money for a preorder for a scrypt asic that will never reach ROI.

I hope you're capable of more than googling and spreading links to scams.
https://images.weserv.nl/?w=800&url=i.imgur.com/AFBVVna.jpg
 
Scrypt is already asic resistant. It is heavily memory dependent , I doubt we will see any scrypt asics this year.

Gridseed only lists performance for dual mining mode (btc +ltc) and its 70kh for ltc peak
 
These do not threaten GPU mining at all in 2014. I bet first generations will actually ship in mid 2015 (based on what butterfly labs did for bitcoin) The first gen units hash at about the same as a GPU setup per $ but for less KWH. they have no resale value or other uses when something new comes out.

I may consider a pre-order for the second gen scrypt miner or that 300gh butterfly labs sha-256 miner for $1500 if i get fed up of scrypt. However, times are good to be a GPU miner right now.
 
Digital Viper-X- said:
Scrypt is already asic resistant. It is heavily memory dependent , I doubt we will see any scrypt asics this year.
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If any of these ASICs have the memory built in, increase the memory requirement beyond what they have and kill the device. IIRC LTC memory requirement is rather small so that it would fit into a CPU's cache.
 
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