DOGECOIN: How A Thing That Started As A Joke Became The Hottest Digital Currency In The World
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Hash functions take an input, and transforms it into a unique output of fixed length. Even changing the input minutely, should alter the output greatly, meaning it is extremely difficult to reverse the operation, and thereby find the input. Miners compete to be the first to solve the mathematical problem, and the winner gets a coin and a small transaction fee for their work. This is supposed to decentralize the network, and make it impossible for any one group to get control of the entire network.
The Bitcoin protocol is built to automatically make the mathematical problem more difficult to solve every 2 weeks or dogecoin uk yahoo keep up with hardware advances or if the network gets too powerful. This difference is important. Then Dogecoin uk yahoo appeared on the market.
Regular people are now sidelined by huge mining pools, massive numbers of ASICs hashing at a colossal pace, using huge amounts of electricity. This places the blockchain in the hands of a few rich individuals who can afford to deploy these clusters.
Dogecoin and Litecoin use scrypt, which is an algorithm developed to use a lot of memory, and is supposed to make custom ASIC hardware too costly to produce. Theoretically that should avoid the ASIC arms race that has now made Bitcoin mining impossible for normal people, decentralize the network, and avoid any one group from taking over. The popularity of Dogecoin uk yahoo is its downfall. All of those people gleefully mining dogecoins on their PCs are screwed.
The Winkelvii will soon own a warehouse in Hong Kong filled with these ASICs, hashing at astronomical rates, gaining control over the network, and burning even more electricity to math at a meme. All your Dogecoins were probably just stolen anyway. Alpha Technologies is a scam. ASIC's wont' be on the market for scrypt coins anytime soon.
If you dogecoin uk yahoo something different then you should include your sources in the above written post. Additionally, you appear to have a chip on your shoulder against Dogecoin. The title of your post summarizes your bias, but there is also the conclusion statement where you state that "all your Dogecoins were probably just stolen anyway".
You come across as an ill informed and bitter person. Get your facts straight. Asic for scrypt will get nowhere near the speed of Bitcoin Asic. Apart from that it will have to be very expensive becouse of cost of memory modules. Yes asics and fpgas may come for dogecoin uk yahoo but for miners dogecoin uk yahoo its what we want to happen…eventually. Mine the coins while their cheap, and sell them when the difficulty explodes. Hardware will eventually need to be produced to make mining profitable when the complexity increases.
The numbers for the ASICs do not add up. A typical graphics card now runs between and KHash. The best case scenario is that you can today build a rig with 7 cards at kHash with the same amount of money rough numbers.
Also they will deliver in Q2 or Q3… probably. Did I mention it's fun to build stuff and not buy ready plug 'n play shit. This article makes absolutely no sense. Did ASIC's kill bitcoin? Because there is virtually no correlation between ASIC development and bitcoin price. ASICs affect mining profitabilty. Profitability and price are disconnected, as we see with bitcoin pricing. Bitcoin mining profitability fell considerably, yes, but did the bitcoin dogecoin uk yahoo fall with it?
No dumbass, it went up dramatically. Alpha Tech is selling vaporware, they don't claim to have finished products. They themselves admit they won't be able to ship anything until 2nd or 3rd quarter at the earliest, and they can't even show a video demo of a product. Six to eight months from now is an eternity in a market like this.
And this comment "The popularity of Dogecoin is its downfall. In fact the opposite is true. The more popular dogecoin uk yahoo currency is, the greater the demand, the greater the price increase, hence, the doge is going to the moon.
Are you associated with Alpha Technologies? I ask because seriously you are really clueless about both general economics and crypto currencies. If you set dogecoin uk yahoo a dogecoin wallet let me know and I'll send you some dogecoins so that when it goes to the moon, you'll still feel stupid for writing this but at least you'll be able to ride the doge rocketship to the moon with the rest of us.
The writer of this post Peter Yeh got his ass handed to him. It's interesting how he hasn't been able to defend his post. I guess that's what happens when you're a half-assed writer at best who posted something online that's based on no facts whatsoever. AlphaCoin's mining rig is very interesting and credible.
The stats and their partners add up even if it does prove to be a scam If anything should reassure people GPU mining of scrypt coins will be around for quite a while yet. It is debatable these FPGA miners will ever pay for themsleves. MAybe the opposite happens, when perople can't make enough coins on their PC's they buy them instead? There are compelling arguments for a cryptocurrency, dogecoin uk yahoo subject to QE, not requiring overseas transfers go through SWIFT in the US, take days and and have costs of several 10's of dollars, not dogecoin uk yahoo to the credit and debit fcard transaction costs Tax imo that visa and mastercard levy.
There is no case for unlimited crptocurrencies however. Most will die, only some will make the transition to a currency you can easily buy goods and services with.
Will dogecoin be one, I dogecoin uk yahoo know. Larger number of coins and faster confirmations are the 2 compelling arguments over Bitcoin. Bitcoin is the credible dogecoin uk yahoo, but for buying coffee in starbucks, it has to be a faster, more numerous currency.
How many people can conver. There are no asics for DOGE SCRYPT at the moment so they can't be responsible for the death of doge and they certainly aren't for any problem bitcoin might dogecoin uk yahoo, how the heck did you came up with this bullshit? GPUs have a much higher footprint, but whatevs. Shitting on innovation out of spite is retarded.
Rich people will always have the edge, deal with it. This shitty article is not only wrong but the first fucking result on Google. Whoever took the time to write this is wrong and a massive dick!!
Dogs have two times as dogecoin uk yahoo muscles to move their ears as people: Shih Tzu weighs between Click here to dogecoin uk yahoo reply.
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