Topic: AMD mining DEAD NOW with Bitmain E3 - page 2. (Read 1875 times)

So Bitmain raised prices for E3 to $1800 
My old rig 6x ASUS RX 470 4Gb gives me 179 Mh/s and drain same power.
It cost me about $1150 and works flawlessly
Now the prices on GPUs go down and I hope we can see $200-250 per 570 card.

Why do I need to wait for E3 until July?

AMD cards mining are far away from being dead at all. The E3 in hashrate is the same as a six cards rig , some modified rx 570 or rx 580. Won't hurt much and won't increase the network difficulty a lot more than they have already done when being used by Bitmain themselves.

You can point AMD cards to other coins, there are not only ethash coins to be mined.

Yes but as you said that it won't hurt eth mining much. I want to know your opinion about mining etc if could be more profitable in future or long term.

The ETC will stay PoW, so it has more urgency to change the PoW to be more ASIC resistant. It is about 3.3% of the total hash of ETH.

I think about 40-60% of the current ETH hash is ASIC as around 60-70% of the Monero hash was ASIC. The Monero original hash is about 840MH/s while the V7 hash is about 250MH/s now.

So if ETC changes, it will attract more GPU miners and could raise the price of ETC.

You DO know that ETC is an ethash coin, and therefore the E3 WILL mine it?

What do you think of ETC mining ?

Which part of "ETH devs have already ruled out a fork due to the E3" did you not see?

Like those of the rest of us that have ALSO crunched the numbers, they realize the E3 is not a significant short-term threat to GPU mining and probably won't have a major impact on ETH profitability by the time ETH goes full Proof of Stake.



There are a few "big cap" coins left that do not have an ASIC available yet are mineable - Zcash is probably the biggest-cap such coin at this point - but even with no ASIC those coins are going to take a serious profitability hit when ETH mining goes "poof, we're full POS now" and the ballpark 75-80% of all GPUs currently doing cryptocoin mining that are now on ETH are forced to look for something else to do.

Every popular coin has asics, soon will be time to mine only coins that have not been touched by asics.

I think that the ETH team will try to close the e3 mining. I will not panic, I will continue to gather at the Nvidia rig.

For the long run starting price of the device doesn't matter to much. Only efficiency (hash per watt) counts. At this sense bitmain e3 is no better than current gpu rigs.

The F3 at this point is a "one very short and VERY uninformative" video rumor.
There isn't even proof in the video that it is for Ethash AT ALL, presuming it actually exists.

The Monero miner fiasco just shows that Bitmain is capable of making major mistakes - they were probably working on it and were going to do their usual "introduce it out of nowhere" routing when they got undercut by Baikal introducing THEIR miner - and BOTH didn't bother paying attention to the long-standing statement by the Monero core dev group that they WOULD change the algorithm if an ASIC showed up.

ETH devs have already ruled out a fork due to the E3 - they rightly don't consider it a serious threat - though they did say they reserved the right to fork if a threat actually DID show up (like the possibility the F3 is real and goes into production and meets the claimed hashrate out of that video).


Do keep in mind that "faked" videos have appeared before - some with a lot more details than that "F3" video actually shows.

I dont know why this is so hard to understand, we now know with 100 percent certainty from the monero fisaco that bitmain only sells miners to the public AFTER they are either gona be forked to uslessness or are not as profitable as they were when they privately mined with them for six to 7 months

The E3 specs is not the issue here the E3 is OLD OLD OLD get that? if they are selling these dusty soon to be cleaned and repasted pos to the masses , they either fear a fork (doubtful, eth devs have thier heads up thier asses conceraning ming.... they always have) or they are clearing space in thier datorhalla for thier new more powerful miners aka F3 .

thats the issue here not the specs on this on year old pos e3 they are dumping on you idiots

is rite,E3 is that it is not ASIC

Intel shows no signs of actually creating a miner by themselves besides their patent application that supposedly increases the efficiency of SHA256 miners (more information here: https://bitcointalksearch.org/topic/intel-hardware-accelerator-for-mining-3225360). What you've posted is absolutely false in that regard.

According to this Reddit post here (https://www.reddit.com/r/EtherMining/comments/8aa64j/eth_core_devs_have_decided_not_to_emergency_hard/), it seems ETH will not fork in response to the new E3. Seems reasonable enough to me considering the efficiency and hashrate of these miners. I guess we won't be seeing a fork until an entity poses a threat in the form of a 51% attack as outlined in the post.

Bitmain is coming up with these ASIC miners time and again and ordering these machines is another hurdle as they are not able to fulfill these orders in a long time, technology giants like Intel and others have started working on bringing new mining machines too, but it looks like it is difficult to break the monopoly created by bitmain as they are evolving with new machines .

The E3 is NOT more efficient than a well-tuned GPU rig.

It is AT BEST a tossup with a 6 card RX 570/580/470/480 rig, a hair more hashrate at same to a hair more power.
It is INFERIOR to a well-tuned GTX 1070 6 card rig which will manage about 190 Mhash/sec at 700-750 watts.

My bloody *5* card 1070 rigs are not well tuned (the CPU is usually a FX 8350 soaking up to 95 watts and mining Monero) and still pull 157-158 Mhash at a little under 700 watts.


The E3 will make a slow dent in ETH profitability, but it looks unlikely to make a significant dent before ETH goes Proof of Stake - and THAT is when across-the-board profitability on GPU mineable coins is going to collapse for at least a short while as all of those GPUs go searching for new homes.

Keep in mind that Bitmain would have to sell over 1.5 MILLION of the E3 to match the CURRENT Ethereum hashrate (then add a few hundred thousand MORE for the other ethash coins).
That's NOT going to happen in a few months - even with it's unquestioned "most efficient SHA256 miner in existance" causing the S9 to sell out quickly on each batch, Bitmain hasn't managed to sell THAT MANY of the S9 in the almost *2 YEARS* since it first went on sale (they probably HAVE managed to sell close to *A* Million of the S9, perhaps a little over).

With that said, can we shut this thread down and move this over to the MAIN E3 discussion thread, we don't need a half dozen threads on the SAME subject.

https://bitcointalksearch.org/topic/bitmain-e3-ethash-miner-asic-shipping16-31-july-800-usd-3249542

If this is not an ASIC then what good would it do ? The only hope now is if Nvidia or AMD produce new mining specific gpu or an asic resistant coin which can challenge ethereum's market capital.

Sorry but you are wrong. NVIDIA cards are just as affected because ALL GPUs mainly depend on ETH. If ETH mining dies, all other algo/coins will also die because the massive farms will eat up profits on all other coins, regardless if that is an AMD or NVIDIA specific algo. There is no "side-effect" to NVIDIA cards only. Everyone will die. What you can do is post on the ETH github page and petition devs to create a fork that destroys ETH ASICs.

You said it "resistant" not "proof" a lot of coins are indeed ASIC resistant but not proof. If someone has enough money and devotion for ASIC that mines some algorithm, they gonna do it.

The thing is nobody will build brand new AMD rigs. Of course you run your AMD rig and make profit. Again Nvidia cards are better for zec mining. Until AMD makes a new gpu that is especially good for mining, their mining game is over. Like I said I am already seeing price cuts in AMD cards.