> We don't need the Litecoin developers.
> We need the majority to support this to make this hardfork work.<p>This is a pretty interesting comment from the person who is proposing the fork. I wonder how the currency will split if a sizable amount of people switch to this method of mining? Will the devs be forced to accept their fork or will this just split off into a litecoin 2.0 that is ASIC resistant which previously mined coins grandfathered into this new fork
Isn't it just a matter of time that someone will make ASICs also for X11? To me any type of algorithm can eventually be implemented in an ASIC. Perhaps some algorithms take longer than others, but it's just a matter of time.
Yesterday something about Auroracoin (never heard of it before), now Litecoin is undergoing some big change, and meanwhile the value of my bitcoins went down 10% overnight. Can anyone explain to me what is happening? Why does anyone care about Auroracoin and a Litecoin protocol change and why does it drive another cryptocurrency's value down?
I don't see what the point of this is? ASICs are actually good; they perform the necessary proof of work while using a lot less power. Running all those GPUs is a needless waste.<p>It sounds like this is just some GPU owners wanting to turn back time to protect their assets.
What I don't get is what's with those hundreds of alt coins. Sometimes I get a feeling that people who missed the BTC growth are just trying to make up for it by creating their own coin. I understand that people are passionate about it and all, but it makes much more sense to have a few coins with plenty of people working on it rather than a new coin popping up every week, and being forgotten a few weeks later.<p>It's like everyone would fork Linux kernel, make some adjustment and try to promote it as something new rather than doing a pull request.<p>Or, like everyone was writing their own blogging engines after WP's success.
I wonder how long it will take before people start using Proof-of-Stake coins, which don't have the ASIC mining issues at all. (Naturally, because "mining" with Proof-of-Stake is not a competition of processing power)
I don't know what's the X11 protocol, but to think a protocol can be "ASIC resistant" looks naive<p>Scrypt has a bigger memory footprint, but ASICs can work with more memory, no problem<p>Not to mention decreasing mineability may end up isolating their fork (causing their value to go down)