Do you think bitmain is secretly mining ETH with ASICs? - page 4.

Branko

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Quote from: fanatic26 on March 20, 2018, 03:09:57 PM

Quote from: Hank Scorpio on March 20, 2018, 11:14:24 AM

I think you did not finish reading my post.

You shouldnt bother going back and forth with Metroid, he is one of the biggest trolls on this site. Go look at his posts, there is nothing meaningful about them, just conspiracy theories and mockery of people. He adds zero value to the community.

I doubt that is true, he get a lot of merit, if that would be truth, he would not get merit

Wipro

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Quote from: Thetaj on March 20, 2018, 12:07:57 PM

I normally don't come to the altcoin mining section. But this got my attention. It seems the altcoiners are getting smarter

This was one of the main reasons why Bitmain decided to dump alot of their S9s at the end of the year. But in Honesty, I kinda side with Bitmain on this one. It was sensible since mid 2017 to develop ASICs for Ethash, but unlike BTC, Ethereum devs got wind of it and started to threaten POS even though they knew that would have tanked their coin.

I am not sure with out any proof how you people are sharing and discussing about bitmain's move on mining ethereum. If they run the big farm also why we have to invest on mining field bro. Everyone knows that difficulty for mining ethereum has been increased from simple mining pool to Nicehash algos. Nothing seems like giving any profits for ethereum.
I personally does not believe the any rumour. This is the conclusion from my about this query.

fanatic26

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Quote from: Hank Scorpio on March 20, 2018, 11:14:24 AM

I think you did not finish reading my post.

You shouldnt bother going back and forth with Metroid, he is one of the biggest trolls on this site. Go look at his posts, there is nothing meaningful about them, just conspiracy theories and mockery of people. He adds zero value to the community.

badfad

jr. member

Activity: 186

Merit: 4

Where there's no (or bad) information there will always be speculation..

Thetaj

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I normally don't come to the altcoin mining section. But this got my attention. It seems the altcoiners are getting smarter

This was one of the main reasons why Bitmain decided to dump alot of their S9s at the end of the year. But in Honesty, I kinda side with Bitmain on this one. It was sensible since mid 2017 to develop ASICs for Ethash, but unlike BTC, Ethereum devs got wind of it and started to threaten POS even though they knew that would have tanked their coin.

Hank Scorpio

newbie

Activity: 23

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Quote from: Metroid on March 20, 2018, 11:11:22 AM

Quote from: Hank Scorpio on March 20, 2018, 11:03:00 AM

Why do you call me troll? I was just giving my reasoned opinion.

Statements like "eth will always be the king" are more typical of a troll or fanboy.

Cause you are in denial too, the evidence to support eth asics have been known for 3 months already.

I think you did not finish reading my post.

Metroid

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Xtreme Monster

Quote from: Hank Scorpio on March 20, 2018, 11:03:00 AM

Why do you call me troll? I was just giving my reasoned opinion.

Statements like "eth will always be the king" are more typical of a troll or fanboy.

Cause you are in denial too, the evidence to support eth asics have been known for 3 months already.

Quote from: Duykhang on March 20, 2018, 11:04:46 AM

If you guys think cost is going to make Bitmain stop you're all wrong. They have more than enough money to do anything they want. They made more profit than NVIDIA in 2017... They just made ASICS for Cryptonight which was deemed asic resistant. If the only factor is money then for sure they are mining secretly with their Asics. The only moment it was revealed that they had ASICS was when Monero announced their hardfork to change their POW.

And nvidia took 20 years to get there, bitmain 3 years. Most of the world is capitalist which means, think what bitmain can do with 3 billion dollars. I myself have to say that I had no idea about any cryptonight asic and for me and i do have inside info, i guess they knew i would leak and their profitability would die right at that spot, so they mined and sold the coins and then all cryptonight coins crashed the price cause they sold most of their coins when it was 2.5x more money.

Duykhang

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If you guys think cost is going to make Bitmain stop you're all wrong. They have more than enough money to do anything they want. They made more profit than NVIDIA in 2017... They just made ASICS for Cryptonight which was deemed asic resistant. If the only factor is money then for sure they are mining secretly with their Asics. The only moment it was revealed that they had ASICS was when Monero announced their hardfork to change their POW.

Hank Scorpio

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Quote from: Metroid on March 20, 2018, 10:50:20 AM

Quote from: leonix007 on March 20, 2018, 05:48:06 AM

I gave you merit on this, its basically a turn of events, I do also mined XMR at ICE AGE however it started at the end of the year when ETH is way more profitable than mining Cryptonight, when Vegas were out and GPU shortage happened medium type GPU's like Rx550, were forcibly sold out and guess what, they also added to mine ETH.

The hashrate is not only recent, started 3 months ago, so nothing supports what van said, cryptonight miners are switching to eth now and a week ago, before that they were mining only cryptonight so nothing van says has any base and if you think it has it means you area greater troll than him cause stay in denial like that is bad.

You are doing or did it wrong then cause ethash never gave more money than cryptonight with vega.

Quote from: Hank Scorpio on March 20, 2018, 09:52:24 AM

I don't think any ASIC vendor is mining ETH currently, because of several reasons.

Firstly, Ethash is designed to be memory-intensive, and that means that the ASIC would be very costly to produce because of the amount of memory that needs to be addressed by every single chip.

Another one in denial here. Keep on it trolls.

You trolls need to understand that profit wise, eth will always be the king of altcoins and the reason is still profitable even having asics on mining eth and those troll asic companies have boundaries, they don't want people to suspect there are eth asics.

Also take note that anybody saying there are no eth asics means, they must be paid trolls from asic companies and alike, do not trust anything they say.

Why do you call me troll? I was just giving my reasoned opinion.

Statements like "eth will always be the king" are more typical of a troll or fanboy.

Metroid

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Xtreme Monster

Quote from: leonix007 on March 20, 2018, 05:48:06 AM

I gave you merit on this, its basically a turn of events, I do also mined XMR at ICE AGE however it started at the end of the year when ETH is way more profitable than mining Cryptonight, when Vegas were out and GPU shortage happened medium type GPU's like Rx550, were forcibly sold out and guess what, they also added to mine ETH.

The hashrate is not only recent, started 3 months ago, so nothing supports what van said, cryptonight miners are switching to eth now and a week ago, before that they were mining only cryptonight so nothing van says has any base and if you think it has it means you area greater troll than him cause stay in denial like that is bad.

You are doing or did it wrong then cause ethash never gave more money than cryptonight with vega.

Quote from: Hank Scorpio on March 20, 2018, 09:52:24 AM

I don't think any ASIC vendor is mining ETH currently, because of several reasons.

Firstly, Ethash is designed to be memory-intensive, and that means that the ASIC would be very costly to produce because of the amount of memory that needs to be addressed by every single chip.

Another one in denial here. Keep on it trolls.

You trolls need to understand that profit wise, eth will always be the king of altcoins and the reason is still profitable even having asics on mining eth and those troll asic companies have boundaries, they don't want people to suspect there are eth asics.

Also take note that anybody saying there are no eth asics means, they must be paid trolls from asic companies and alike, do not trust anything they say.

I myself leaked many info about it on beginning january and they got angry at me and want me to be quiet about it, do not listen to these trolls that say there are no eth asics.

Vann

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Quote from: Branko on March 20, 2018, 06:36:21 AM

Quote from: leonix007 on March 20, 2018, 05:48:06 AM

Quote from: Vann on March 19, 2018, 03:57:00 PM

There are many reasons for the network hash rate to have increased, but IMO, a Bitmain ASIC conspiracy ain't one. Daily media hype towards the end of last year, $20K BTC and $1300 ETH, which on a yearly basis outperformed BTC by almost 10000% a the end of last year and beginning of this year brought in lot's of new miners at a peak, as it always does. Another factor that limited the network hash rate was the ETH ICE AGE MAY-OCT artificially increased block times and difficulty. Once the Byzantium fork happened in the middle of OCT it ended the ICE AGE and profitability increased right around the time Crypto started the end of the year bull run, which brought miners back to ETH. The most recent hash rate increase is from Vega miners switching to ETH after a collapse in Cryptonight profitability.

I gave you merit on this, its basically a turn of events, I do also mined XMR at ICE AGE however it started at the end of the year when ETH is way more profitable than mining Cryptonight, when Vegas were out and GPU shortage happened medium type GPU's like Rx550, were forcibly sold out and guess what, they also added to mine ETH.

You forget one important thing, there was not enough GPUs on the market to support such increase in hashrate...unless AMD or its partners were selling
through other channels to big miners

That's exactly what Nvidia was doing with the P series mining cards which are targeted for ETH mining and only distributed in bulk orders. Especially the P104 that came out at the end of last year and gets 40 MH/s+ on ETH. More recently there is also the P102. That has also contributed to the increase in ETH hash rate from the end of the year in a big part and that is a fact. Not some crazy ASIC conspiracy based on a single rumor on a Chinese web site with ZERO proof.

Hank Scorpio

newbie

Activity: 23

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I don't think any ASIC vendor is mining ETH currently, because of several reasons.

Firstly, Ethash is designed to be memory-intensive, and that means that the ASIC would be very costly to produce because of the amount of memory that needs to be addressed by every single chip.

On top of that, chip manufacturing technology is stable at 14nm, with some players trying to jump to a lower and much more expensive 7nm production process. Popular GPUs use 14nm technology, so any ASIC that pretends to be more efficient must be lower than that (Bitmain Antminer L3+ is 16nm, for instance), thus becoming very expensive.

I don't discard completely the possibility of Ethash ASIC mining, but I think that nowadays the more efficient option are GPUs. The difficulty ramp up is caused in my opinion by more and more GPUs mining.

Regards.

Branko

sr. member

Activity: 2604

Merit: 326

Quote from: leonix007 on March 20, 2018, 05:48:06 AM

Quote from: Vann on March 19, 2018, 03:57:00 PM

There are many reasons for the network hash rate to have increased, but IMO, a Bitmain ASIC conspiracy ain't one. Daily media hype towards the end of last year, $20K BTC and $1300 ETH, which on a yearly basis outperformed BTC by almost 10000% a the end of last year and beginning of this year brought in lot's of new miners at a peak, as it always does. Another factor that limited the network hash rate was the ETH ICE AGE MAY-OCT artificially increased block times and difficulty. Once the Byzantium fork happened in the middle of OCT it ended the ICE AGE and profitability increased right around the time Crypto started the end of the year bull run, which brought miners back to ETH. The most recent hash rate increase is from Vega miners switching to ETH after a collapse in Cryptonight profitability.

I gave you merit on this, its basically a turn of events, I do also mined XMR at ICE AGE however it started at the end of the year when ETH is way more profitable than mining Cryptonight, when Vegas were out and GPU shortage happened medium type GPU's like Rx550, were forcibly sold out and guess what, they also added to mine ETH.

You forget one important thing, there was not enough GPUs on the market to support such increase in hashrate...unless AMD or its partners were selling
through other channels to big miners

leonix007

sr. member

Activity: 1008

Merit: 297

Grow with community

Quote from: Vann on March 19, 2018, 03:57:00 PM

There are many reasons for the network hash rate to have increased, but IMO, a Bitmain ASIC conspiracy ain't one. Daily media hype towards the end of last year, $20K BTC and $1300 ETH, which on a yearly basis outperformed BTC by almost 10000% a the end of last year and beginning of this year brought in lot's of new miners at a peak, as it always does. Another factor that limited the network hash rate was the ETH ICE AGE MAY-OCT artificially increased block times and difficulty. Once the Byzantium fork happened in the middle of OCT it ended the ICE AGE and profitability increased right around the time Crypto started the end of the year bull run, which brought miners back to ETH. The most recent hash rate increase is from Vega miners switching to ETH after a collapse in Cryptonight profitability.

I gave you merit on this, its basically a turn of events, I do also mined XMR at ICE AGE however it started at the end of the year when ETH is way more profitable than mining Cryptonight, when Vegas were out and GPU shortage happened medium type GPU's like Rx550, were forcibly sold out and guess what, they also added to mine ETH.

shaninium

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Activity: 489

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Once xmr forks hopefully amd gpu s will switch over to xmr from eth ( if its profitable). Eth difficulty should drop, but if these eth asics are being "tested" then it could be just an excuse to ramp up the testing with running more machines leaving little difference in eth hashrate. These eth asics might cost a lot to make but its their power efficiency which should make them a money maker.

Branko

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Quote from: Goool on March 20, 2018, 04:52:49 AM

BITMAIN money hungry company ,,, they never get enough ... it seems Chinese government started to investigate them... invoices, tax, bitcoincash, probably they got reported by Chinese farms ....

Money laundering ....Currency manipulation (LTC, Bitcoincash ....)

After these yes I believe that they have ASICs capable to mine etherium ... they should also make a fork and you will see how the used ASICs they will hit the market as new new ....

Greed is capitalist trait, and China is communist country, or I missed something?

Goool

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BITMAIN money hungry company ,,, they never get enough ... it seems Chinese government started to investigate them... invoices, tax, bitcoincash, probably they got reported by Chinese farms ....

Money laundering ....Currency manipulation (LTC, Bitcoincash ....)

After these yes I believe that they have ASICs capable to mine etherium ... they should also make a fork and you will see how the used ASICs they will hit the market as new new ....

wanghaoqd

newbie

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Now you know why DRAM price has gone crazy.

sunny_luthras

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100% yes bitmain and other asic manufacturers are secretly mining ETH with ASICs

nc50lc

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Self-proclaimed Genius

Maybe not, maybe yes, they could have been "secretly" renting those hashrates.
It's very easy for a distributor/manufacturer to use the units for "testing" while making some bucks out of it.

And here's a better conspiracy theory:
With the rise of the so called Bitcoin "Cloud Mining" last year, I think Bitmain is behind that gimmick too, next would be Ethereum.

Topic: Do you think bitmain is secretly mining ETH with ASICs? - page 4. (Read 1857 times)