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Topic: GPU Mining. (Read 4329 times)

hero member
Activity: 873
Merit: 1007
August 07, 2014, 08:20:07 AM
#75
I think it will always be profitable, there are plenty of anti-ASIC coins.

As noted above if any coin becomes profitable with GPUs it is usually destroyed in a few months by massive farms moving in who sell every day, mutlicoin pools who autodump the coin, and eventually an ASIC invasion if the price remains high enough.

Pretty much all GPU miners have switch to multipools since no coin stays profitable for more than a few days (unless you have free electricity).
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
August 07, 2014, 06:02:51 AM
#74
I think it will always be profitable, there are plenty of anti-ASIC coins.
Wrong concept. Even though those coins are ASIC proof, why can't people use their GPUs from mining BTC a few years ago to mine that alt coin? The difficulty would probably rise. You cannot predict if the price is going to crash. Those people with GPUs from mining Bitcoins year ago profit more than small miners.
full member
Activity: 182
Merit: 100
August 06, 2014, 06:44:09 PM
#73
I think it will always be profitable, there are plenty of anti-ASIC coins.
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
July 16, 2014, 12:25:45 PM
#72
I believe if the algo is ASIC and FPGA proof. Isn't that the best marketing strategy ?

Don't we already have a dozen of ASIC proof algorithms (at least at this moment), like X11, X13, X15, NIST5, etc?
I don't think it makes those coin very successful.

+1.
It is the features of the coin which makes the coin very successful and the names, logo etc.. must be a catchy one. Smiley

Kindly,
        MZ
hero member
Activity: 662
Merit: 500
July 16, 2014, 07:52:18 AM
#71
I believe if the algo is ASIC and FPGA proof. Isn't that the best marketing strategy ?

Don't we already have a dozen of ASIC proof algorithms (at least at this moment), like X11, X13, X15, NIST5, etc?
I don't think it makes those coin very successful.
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
July 16, 2014, 07:15:47 AM
#70
i think mining for average joes like us is only useful for a very very limited time when a coin launches, after that its pretty much game over.
The coin can be a pump and dump. You must have a huge community for the coin to be stable, you can't tell if it will even hit the exchange within that limited time.

Yes but the exchanges can be made by the persons who made the coin although it will take some time.

Kindly,
        MZ
I don't think people would trust the operator much. He can just run away with the coins and the trade volumes won't be very high.

I didn't told that they would trust but I told it is possible. Smiley

Kindly,
        MZ
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
July 16, 2014, 06:40:56 AM
#69
i think mining for average joes like us is only useful for a very very limited time when a coin launches, after that its pretty much game over.
The coin can be a pump and dump. You must have a huge community for the coin to be stable, you can't tell if it will even hit the exchange within that limited time.

Yes but the exchanges can be made by the persons who made the coin although it will take some time.

Kindly,
        MZ
I don't think people would trust the operator much. He can just run away with the coins and the trade volumes won't be very high.
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
July 16, 2014, 06:27:47 AM
#68
i think mining for average joes like us is only useful for a very very limited time when a coin launches, after that its pretty much game over.
The coin can be a pump and dump. You must have a huge community for the coin to be stable, you can't tell if it will even hit the exchange within that limited time.

Yes but the exchanges can be made by the persons who made the coin although it will take some time.

Kindly,
        MZ
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
July 16, 2014, 06:15:34 AM
#67
i think mining for average joes like us is only useful for a very very limited time when a coin launches, after that its pretty much game over.
The coin can be a pump and dump. You must have a huge community for the coin to be stable, you can't tell if it will even hit the exchange within that limited time.
member
Activity: 84
Merit: 10
July 15, 2014, 08:39:03 PM
#66
i think mining for average joes like us is only useful for a very very limited time when a coin launches, after that its pretty much game over.
hero member
Activity: 700
Merit: 500
July 14, 2014, 05:07:26 PM
#65
Not for mining BTC directly no.  Provided you have free or near-free electricity you might be able to squeeze a few dollars per month out of a mini gpu farm but this too is getting harder by the day.

It's funny u was running measly 3 gpu "farm" only a year ago and it's become totally worthless. I had almost free electric but it's not even worth the hassle at this point. You can get more from sig campaigns if you don't have any hardware.
full member
Activity: 210
Merit: 100
★☆★ 777Coin - The Exciting Bitco
July 14, 2014, 02:48:20 PM
#64
Not for mining BTC directly no.  Provided you have free or near-free electricity you might be able to squeeze a few dollars per month out of a mini gpu farm but this too is getting harder by the day.
full member
Activity: 145
Merit: 100
July 14, 2014, 10:17:52 AM
#63
GPU mining would be recommened for alt coins, not mining directly for bitcoin lol.

All the ASIC war is making everything to go up in difficulty way faster, so no chance.
legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
July 14, 2014, 10:03:32 AM
#62
The only way that can save GPU mining is someone create a truly GPU only coin. Its hard but not impossible..
The difficulty would be really high. People who still have GPUs to mine bitcoins a few years ago would switch to this coin, provided that it is highly successful, making the difficulty very high. The coin have to be successful to be able to attract miners.
hero member
Activity: 647
Merit: 501
GainerCoin.com 🔥 Masternode coin 🔥
July 14, 2014, 10:01:21 AM
#61
The only way that can save GPU mining is someone create a truly GPU only coin. Its hard but not impossible..

That is not the hard part.
The really hard part is to make that coin successive, which requires good developers, good promoting programs, a large user base, good merchant acceptance, etc.


I believe if the algo is ASIC and FPGA proof. Isn't that the best marketing strategy ?
hero member
Activity: 571
Merit: 500
July 14, 2014, 09:54:20 AM
#60
The only way that can save GPU mining is someone create a truly GPU only coin. Its hard but not impossible..

That is not the hard part.
The really hard part is to make that coin successive, which requires good developers, good promoting programs, a large user base, good merchant acceptance, etc.
hero member
Activity: 647
Merit: 501
GainerCoin.com 🔥 Masternode coin 🔥
July 14, 2014, 09:47:59 AM
#59
The only way that can save GPU mining is someone create a truly GPU only coin. Its hard but not impossible..
hero member
Activity: 571
Merit: 500
July 14, 2014, 09:39:41 AM
#58
I think it's just like CPUs. CPUs used to be profitable, now it would be a total joke to try to mine with a CPU. I think gpus are headed that way, if not already there. It could be fun to tinker for a bit with it to get your feet wet with mining though. I did it for a while but then it wasn't worth it.

Pretty much so, unless there will be a hugely successful ASIC-resistant coin.

The problem is if a coin becomes successful somebody will want to develop a specific machine just for it.  If BTC stayed at $0.10 there would be no ASICs for it. People wouldn't even bother with GPUs for it.  The ASICs follow the money trail.
This is probably true, however people were GPU mining long before BTC was worth even a penny, the may have not been investing thousands of dollars in bitcoin but they were using GPUs to mine.

That is incorrect. Artforz is considered to first person to be secretly mining massive amounts of BTC on his GPUs and at that time BTC was over $0.01.  The spike in mining in March 2011 is from the GPU explosion that Satoshi tried to hold back as long as possible.

While Artforz is the first one to mine bitcoin with GPUs secretly (https://en.bitcoin.it/wiki/ArtForz), laszlo (the pizza buyer) released a GPU miner back in May 2010 https://bitcointalksearch.org/topic/m.5149151
hero member
Activity: 873
Merit: 1007
July 14, 2014, 05:25:21 AM
#57
I think it's just like CPUs. CPUs used to be profitable, now it would be a total joke to try to mine with a CPU. I think gpus are headed that way, if not already there. It could be fun to tinker for a bit with it to get your feet wet with mining though. I did it for a while but then it wasn't worth it.

Pretty much so, unless there will be a hugely successful ASIC-resistant coin.

The problem is if a coin becomes successful somebody will want to develop a specific machine just for it.  If BTC stayed at $0.10 there would be no ASICs for it. People wouldn't even bother with GPUs for it.  The ASICs follow the money trail.
This is probably true, however people were GPU mining long before BTC was worth even a penny, the may have not been investing thousands of dollars in bitcoin but they were using GPUs to mine.

That is incorrect. Artforz is considered to first person to be secretly mining massive amounts of BTC on his GPUs and at that time BTC was over $0.01.  The spike in mining in March 2011 is from the GPU explosion that Satoshi tried to hold back as long as possible.
sr. member
Activity: 266
Merit: 250
July 13, 2014, 01:29:47 PM
#56
I think it's just like CPUs. CPUs used to be profitable, now it would be a total joke to try to mine with a CPU. I think gpus are headed that way, if not already there. It could be fun to tinker for a bit with it to get your feet wet with mining though. I did it for a while but then it wasn't worth it.

Pretty much so, unless there will be a hugely successful ASIC-resistant coin.

The problem is if a coin becomes successful somebody will want to develop a specific machine just for it.  If BTC stayed at $0.10 there would be no ASICs for it. People wouldn't even bother with GPUs for it.  The ASICs follow the money trail.
This is probably true, however people were GPU mining long before BTC was worth even a penny, the may have not been investing thousands of dollars in bitcoin but they were using GPUs to mine.
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