ASIC Litecoin rigs are making way to the market with GridSeed ASIC Scrypt miners being the first and also available “right now”. I am actually in the process of testing a GridSeed rig right now and I am pretty impressed so far as how little energy it uses.
With that said, ASIC Litecoin rigs were not supposed to be on the market and that was the reason why miners were switching to mining Litecoins couple months back. Well, the game has changed quite a bit now and GridSeed rigs are literally pumping up the Litecoin market, the Litecoin hashrate has doubled in the last few weeks if you have noticed.
What does this mean to us all?
Eventually, ASIC miners like GridSeed will definitely take over the larger miners out there since electricity is near zero in comparison with graphic card rigs. But wait, that’s not all!
There’s a new Scrypt in town called “Scrypt-N”, coins like Vertcoin and Spaincoin are using this new algorithm which uses Factor-N method to weed out future ASIC miners. This may actually work out quite well for those of you running graphic card rigs.
The competition for ASIC mining will eventually become that of Bitcoins if there’s more efficient ASIC rigs being introduced. Still, Bitcoin ASICs are 10-100 times more efficient so they won’t have as much effect as Bitcoin ASICs.
It’s an unpredictable future but I foresee profitable future for both graphic-card miners and ASIC scrypt miners. Where do you want to put your bet “right now”? If you’ve been checking CoinWarz.com, you probably noticed Vertcoins doing fairly well and I think that’s where the future of graphic miners are headed. Scrypt-N will definitely keep ASIC scrypt miners at bay.
Also, one word of caution for those of you thinking about putting a pre-order for KnC Miner’s new 100Mh/s Scrypt miner. It’s definitely too good-to-be-true and be aware because I am STILL waiting for my 300GH/s Bitcoin miner I pre-ordered with $3500 CASH (wire transfer). By the time I get my new BFL rig, it will be nearly worthless, make like cents per day. These companies can do a bit better if they can guarantee 100% the new rigs will arrive on time. Otherwise you are putting your $10K for them to decide what to do with it. They are more like “scam” if you ask me so there you have it. Put your money where actual rigs are, not on pre-orders. Time has everything to do with your Crypto-life, if you don’t get it within the time window, it’s good as a piece of junk.
If companies want to take pre-order, they need to be transparent about the way they do their business and not just sit on customers’ money and make hoards of cash just on interest. DO NOT PUT YOUR BITCOINS OR WIRE TRANSFER MONEY on pre-orders. Just not worth it, let the companies take the risk and offer you credit card payments, PayPal, etc…etc…
Otherwise they are taking your money and running away, just like BFL did with my Bitcoin rig that’s STILL not here nor will I get my money back. They will ship it in couple months when it’s even more worthless piece of junk.
On the side note, GridSeed ASICs are available “right now”, you can order them from various retailers, I used ZoomHash.com to order and they arrived in just 2 days straight from their China base.Like my tutorial? You can send me coins!
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