Yeah I like groestl. It had a 3rd place as candidate for SHA-3 (along with Keccak).
it's the new hot thing. i say we dont wait to see it flourish. every coin that has flourished was allowed to flourish on the supply of gpus alone. asics have proven their greed. and multipool are heartless. we have the knight program.. which if we switch to groestl will get a new a mission.. reconnaisance lol. and we may not have a very large window. eventually other scrypt coins are going to realize they have to do something to at least mitigate the abuse of multipool dumps as soon as the coin begins to rise. with an non-multipool algo.. the price can rise simply because noone mined too much of market share making it near valueless to them while of much more value to those who could only get a few, limiting the temptation to greed to cashout all their stock at prices so low noone else is able to sell until theyre done suppressing the market.
i really hope Rofo will go with groestl.. or maybe he will do his own algo. could be interesting. groestl is definitely successful not only because it is anti asic/multipool but because it is an enhancement on x11/x13 algos which are now compromised by asics. people want it especially with the summer heat it would be good to run at cooler temps not just for the electricity bill but the environment as well.
The truth is that multipools are always going to exist unless a coin has a crushing majority (in terms of market penetration and hashrate). Remember, there have been SHA-256 and sCrypt multipools for a quite a while already. I think the multipool abuse is more of a systemic issue rather than an algorithm issue. People want to convert coins into what is easily usable (i.e. greed to a certain extent); that's why so many people dump for BTC and/or fiat.
I'm not sure how you can substantively make this conclusion, but how is Groestl directly an enhancement? The only "enhancement" of these algorithms is the cooler temperatures (but even this is severely negligible). ASICs still win the battle in regards to electricity efficiency.
yes but asics are the cause of a very big problem together with multipools for any scrypt/sha or multipoolable coin. they can generate coins much faster than the market grows. thus in a rush to gain their ROI they cash out and dump so that they dont risk the price going lower before they sell. their selfishness, panic and greed is actually caused by them in the end because they wont hold the coins long enough for the market to become strong and of high value.
groestl is an enhancement because as it is, the price of all scrypts that are multipoolable are beeing abused by the multipools for POS coins. the more pos coins come out.. the more multipools there will be.. and the more profitable your scryptcoin becomes, the larger target it becomes for a multipool.
groestl will protect investors from heartless multipool dumps which have no value for the coin. only to gain btc to buy e.g - blackcoin on the market. if groestl is anti multipool.. that is the most significant enhancement in my eyes to protect our coin. with more multipools targetting litecoin the price will go lower unless alot of people suddenly arrive with a demand for litecoin that outweighs how much multipools can generate and dump each day...
