ASIC-Resistance Is a Myth

ASICs are those powerful beasts that provide all the hash-power. Coin developers generally don't like them because they're too powerful and lead to a centralization of the mining process therefore they make their coins run on new algorithms which they claim to be 'ASIC-resistant', a claim which has never proven to be true.

LItecoin's Scrypt was the first ASIC-resistant algo and it took all of five seconds for Antminer to start shelling Scrypt ASICs out. Dash's X11, on top of the privacy features, was touted as the next great thing in ASIC-resistance. If you look on Bitmain's product list now you will see an Antminer designed specifically to mine Dash. Only took them a few years. They just needed to wait until the value of the coin warranted the dedicated hardware.

Ethereum and their Equihash algorithm came closest to beating the plague of application specific integrated circuitry but some cheeky fuckers figured out that if they could mount just enough GPUs in just the right way, they could integrate circuitry specific to an application that mines ASIC-resistant coins.

Two months from now, GPU resistant will be the new ASIC-resistant.