- Jul 25, 2006
- 1,202
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I understand it bars the ASIC-ruled BTC from playing a role in negating the mining efforts of those with non-ASIC systems, however, why bother?
I do understand that the drastically smaller valuation of LTC vs BTC means that hardware efforts toward LTC mining can provide a larger benefit, given the room for BTC-vs-LTC upward growth. However, this sort of implies a future success, better valuations, and "market-share" that will attract hardware-optimized (FPGA,ASIC, etc.) solutions which will negate LTC even existing.
I cannot start mining BTC again at a "profitable" level , yet I do not really see an allure to LTC mining... If LTC "makes it", there will likely be something thereafter. I understand the underpinning of BTC, but don't know much about how dynamic it is: can the maximum currency units be altered, etc.
My point is this: Instead of alternatives to a digital currency that is an alternative to fiat monies... why not a digital currency that is dynamic enough to disallow ASIC mining and wan upward bound on total volume? Given the volatility of BTC, there has got to be a greater occurrence of abandonment, and thus lost BTC units than with any other currency... And why fuel a hardware arms-race to better mine, rather then a recurring, dynamic, implementation that forgoes resource-intensive development altogether? If bitcoin it to be for the masses, should it not be able to be mined by the same?
I do understand that the drastically smaller valuation of LTC vs BTC means that hardware efforts toward LTC mining can provide a larger benefit, given the room for BTC-vs-LTC upward growth. However, this sort of implies a future success, better valuations, and "market-share" that will attract hardware-optimized (FPGA,ASIC, etc.) solutions which will negate LTC even existing.
I cannot start mining BTC again at a "profitable" level , yet I do not really see an allure to LTC mining... If LTC "makes it", there will likely be something thereafter. I understand the underpinning of BTC, but don't know much about how dynamic it is: can the maximum currency units be altered, etc.
My point is this: Instead of alternatives to a digital currency that is an alternative to fiat monies... why not a digital currency that is dynamic enough to disallow ASIC mining and wan upward bound on total volume? Given the volatility of BTC, there has got to be a greater occurrence of abandonment, and thus lost BTC units than with any other currency... And why fuel a hardware arms-race to better mine, rather then a recurring, dynamic, implementation that forgoes resource-intensive development altogether? If bitcoin it to be for the masses, should it not be able to be mined by the same?