GPU-Mined Litecoins Will Buy ASIC Machines; Quite Ironic

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GPU-Mined Litecoins Will Buy ASIC Machines; Quite Ironic

ForexMinute.com – The past few days in the Litecoin community were full of internal conflicts. With ASIC Scrypt Miners on the verge of being launched, Litecoin miners considered them as a threat to their GPU mining operations.

A poll conducted at BitcoinTalk.org showed that the majority of the Litecoin miners were in favor of hard fork, as it would change the Litecoin’s Proof of Work and make it inaccessible to ASIC Machines. They even argued about the potential of these machines to kill some Litecoins in their process of overtaking.

The Litecoin Core Development Team however welcomed the new generation machines to their community and went against the poll that requested changes in the Litecoin’s current algorithm. One of the developers even said that “most people don’t understand everything involved with this topic”, while favoring the influx of ASIC miners in the end.

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While it has been cleared that the GPU-miners are holding a grudge against the ASIC Scrypt Miners, the ASIC manufacturers are trying to woo them in every possible way. Look further to know how.

KnCMiner, the leading contender in the upcoming ASIC Scrypt mining business, has announced today that they are accepting Litecoin payments for their range of products. “We are happy to announce that we now accept Litecoin payments for our products, as well as Bitcoin payments and USD bank transfers,” the announcement said.

But of course, they didn’t come out openly and showed a “white flag” to GPU miners, but their act although justified the hidden yet “positive” intentions, which is to seduce their counterparts into choosing a better alternative of Litecoin mining.

And How Accepting Litecoin Will Help?
By simply offering the community to use their hard-earned (and mined) Litecoin on something that will further help to mine more Litecoins within the best price-performance ratio, KnCMiner is sure to make GPU miners shift sides.

There is already an ongoing debate on social platforms – ranging from Reddit to Twitter – that whether the Litecoin Core Development has taken the right decision of not changing Litecoin’s algorithm. With KnCMiner taking an initiative in a hope to conclude such debates, chances are that that GPU-mined Litecoin will now be able to buy an ASIC Scrypt Miner. Ironic like we mentioned in the title.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com