Bitcoin alternative for nvidia?? | Bitcointalksearch.org

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Quote from: sippsnapp on October 22, 2012, 06:10:13 PM

n0pe, its more like i say when bitcoin was founded it was not build to be energy/hashpower effective for devices like nvidia gpus. .
Guess thats the reason why we soon can buy optimized asic miners, they optimized them for energy efficiency and max hashpower for the bitcoin algo, probably these devices would be useless on another algo as i understood that.

That is correct, ASICs are specifically designed for some operations and are therefore fast but can't be used for any other activities unlike FPGAs.

@topic there will be no better algorithm for nvidia-gpus simply because it makes no sense to spend time and effort in trying to find and develop an algorithm that most likely will still be behind the one for the amd-architecture because of the hardware differences. soon gpu-mining will become obsolete so I see no reason to still put effort in gpu-mining.

sippsnapp

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n0pe, its more like i say when bitcoin was founded it was not build to be energy/hashpower effective for devices like nvidia gpus. .
Guess thats the reason why we soon can buy optimized asic miners, they optimized them for energy efficiency and max hashpower for the bitcoin algo, probably these devices would be useless on another algo as i understood that.

As on the linked page explained, there would eventually be a very complicated algo required to mine nvidia effectively.

As nobody has specifically answered the question as if there would be an optimized algo for nvidia like devices that could or could not beat available mining devices in effectivity.

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

This is a bit like saying "motorcycles are great at acceleration and maneuvering through traffic, how can I use one for delivering fridges and washing machines?"

robert07

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Why do you want nvidia when you already have Bitcoin??

sippsnapp

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Yeah, guess so.
I found this in meantime http://bitcoin.stackexchange.com/questions/1523/bitcoin-alternative-designed-for-nvidia

sippsnapp

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Of course i fully agree on the decentralization thing, but this even stronger in my opinion engages the idea of not one single crypto currency.
An nvidia coin would get there the same way as other crypto currencies make or maybe not.

What i could imagine is there would be a lot of people like to use their nvidia cards to generate some sort of crypto currency.
There would probably be a forum at the beginning and from there on an own economy emerging, why should it be different from bitcoin.

What we now have with bitcoin is obv a state where the full possible mining effectivity is not maximized with the currently available hardware, if i get it right.
So there are ASIC modules build now which as i understood mine bitcoin in an optimized way for cost effectiveness resulting in much higher hashpower and lower power consumption.

They build the modules (ASICs) to mine arround the object (bitcoin).
So we already have devices (again)(as i understood the fact) which are just not build for this kind of mining/computing process (call it whatever) but have their advantages in other fields.

What is the reason for this?
Why is bitcoin not build arround an existing computing model?
Can a conventional gpu/cpu never beat an asic device?

Stephen Gornick

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Quote from: sippsnapp on October 22, 2012, 09:26:58 AM

Lets imagine there is a new crypto currency that can only effectively mined by nvidia or similar cpus/gpus as bitcoin in its first days with ati.

A successful cryptocurrency doesn't exist to provide an income to people who have GPUs.

The Bitcoin cryptocurrency exists because it is a way that a decentralized ledger system can exist without there being a central authority. It does this by using consensus from an immense amount of computing power that makes it unprofitable (if not logistically all but impossible) for an actor or cartel to manipulate the currency (otherwise known as cheating or changing the rules).

If a cryptocurrency is decentralized (proof-of-work based) and is vulnerable to a single actor or cartel, it is not secure.

How would you propose this NVidiaCoin reach a point that it would be secure against this threat?

sippsnapp

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I very much like this idea because it also would build a new hurdle for asics. The asics currently developed i guess are build on the bitcoin structure.

Lets imagine there is a new crypto currency that can only effectively mined by nvidia or similar cpus/gpus as bitcoin in its first days with ati.

sippsnapp

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Quote from: Stephen Gornick on October 22, 2012, 09:14:10 AM

So then are you are asking if there is some type of NVidiaCoin cryptocurrency where NVidia performs better than AMD? Heh, I wouldn't be surprised if someone were to do that some day.

This!

Stephen Gornick

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Quote from: sippsnapp on October 22, 2012, 05:23:45 AM

All interesting stuff indeed but what i mean is some sort of algorythm that works the same way benefical for nvidia and similar card/chips that bitcoin does for ati cards.
As i understood the whole topic nvidia cards have advantages which ati dont have (but what are these advantages and how could it be use effectively?).
Maybe somebody with deeper insight can provide a statement??

An algorithm for mining? For the type of SHA256 hashing work that Bitcoin mining involves, there's simply an architectural difference between NVidia and AMD GPUs and NVidia performs that hashing only at a fraction of the level that the AMD architecture does.

- http://en.bitcoin.it/wiki/Why_a_GPU_mines_faster_than_a_CPU#Why_are_AMD_GPUs_faster_than_Nvidia_GPUs.3F

So then are you are asking if there is some type of NVidiaCoin cryptocurrency where NVidia performs better than AMD? Heh, I wouldn't be surprised if someone were to do that some day.

sippsnapp

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All interesting stuff indeed but what i mean is some sort of algorythm that works the same way benefical for nvidia and similar card/chips that bitcoin does for ati cards.
As i understood the whole topic nvidia cards have advantages which ati dont have (but what are these advantages and how could it be use effectively?).
Maybe somebody with deeper insight can provide a statement??

Stephen Gornick

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Quote from: sippsnapp on October 21, 2012, 06:12:28 PM

Hi there,
is there (or maybe in development) an alternative to bitcoin that is build to use the advantages of nvidia cards?
Is this even possible or/and realistic?

Those with NVidia hardware might want to look at CoinLab's program:

Protect your future GPU mining earnings with CoinLab's 95-97% PPS Pool
- https://bitcointalksearch.org/topic/ann-coinlab-protected-pool-99643

There may be other computational work developments as well. For example:
- https://bitcointalksearch.org/topic/cracking-wpa2-with-bitcoin-119611
- http://www.HashBounty.net

There are a lot of people in the same boat:

Small time miners - What do you do when ASICs hit and you don't upgrade?
- https://bitcointalksearch.org/topic/small-time-miners-what-do-you-do-when-asics-hit-and-you-dont-upgrade-110726

What will happen to all the "traditional" mines once the new ASIC based miners
- https://bitcointalksearch.org/topic/what-will-happen-to-all-the-traditional-mines-once-the-new-asic-based-miners-114585

TheDarKnight

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I have an nvidia

but why do you mine?! Buy them instead, it's much more economical...

sippsnapp

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Hi there,
is there (or maybe in development) an alternative to bitcoin that is build to use the advantages of nvidia cards?
Is this even possible or/and realistic?

Topic: Bitcoin alternative for nvidia?? (Read 3192 times)