All the things you wanted to know about Bitcoin and the other cryptocurrencies

ASIC coming for X-algorithms

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First they came for SHA256, and before you knew it, you couldn’t mine any amount of Bitcoin with your PC anymore. Soon, you couldn’t even make money with a GPU rig. Then they came for SCRYPT, changing the game for Litecoin, Dogecoin, and similar currencies.

In response, in hopes of keeping the network truly decentralized and opportunistic for all, other algorithms were put together. X11, X13, X15, all of these are composed of a number of algorithms, the purpose being to outsmart application-specific integrated circuits (ASICs). The first successful X11 coin was Darkcoin last year, which eventually topped $10 USD. The scarcity of the coin as a result of the difficulty of mining it was a large contributor to its rocketing value… CONTINUE

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