Topic: GPU mining will die in 2018! - page 21. (Read 16860 times)

The title may look excessively pessimistic, but you brought up some valid concerns. And I didn't expect it to happen that fast... Look at these Antminers X3, from Bitmain: https://cointelegraph.com/news/bitmain-announces-new-monero-mining-antminer-x3-cryptos-devs-say-will-not-work

And it looks like Monero developers are organizing to strike back: https://www.coindesk.com/crypto-kill-switch-monero-going-war-big-miners/

really really nice and interesting opinions here. Thanks a lot guys.

I'm one of those that think Bitmain has been mining ETH with ASICS for quite a while now. The fact that you can see 8.000 gh/s switching to ETH in two hours is like watching 44.444 6gpu mining rigs all moving synchronized and deciding the same time to switch there. that's not possible. Someone is cheating. And we are paying the consequences.

I'm afraid Vitalik will not apply any fork to mining with ASICS but PoS , disabling mining, so staying away from miners problem. why would Vitalik apply a fork to disable ASICS if he can already apply PoS and destroy mining? Vitalik needs their chain ready , and he has always said we has enough with 100 million coins.
i don't see a future in ETH unless you are a big whale who believes in the technology rather than it's trading value.

I'm also quite sure that this drop in value of ETH has something to do with this. PoS will not allow small investors to enter. those having 3,4,5 or even 10 ETH coins will not be able to enter , according to some especulations. IF you could drop the price of ETH so that this guys are forced to sell cheap before losing the coin in favour of PoS, big whales would be able to buy cheap coins to increase their participation.

The coin, which will stay linked to the chain, will give you money according to the number of coins you had. I guess this will work like this.

For every smart contract, the money received will be divided by 100 million coins. then the more coins you have, the more money will receive for each. That's not considering the Devs will want a bigger part than investors. If the coin is what gives you the profit once PoS, it's not possible to see that coin in trading, because that would mean you can detach your coin from the chain and sell it to another guy. What if that guy as only one ETH? he could not enter PoS so that coin would be worthless. You will be able, probably  to sell in person to person trading, but i don't see people selling profitable coins if ETH chain is profitable.

I don't think once PoS applied you will be able to buy or sell the coin as we know it nowadays. More of "investor to investor trading". But that would also mean you would have to tell ETH devs that you've increased your participation (because if they don't know the amount of coins you have, they will not pay you for that increase). So ETH devs will know who is buying ETH from other people to gain more control over the company, and they could probably ban that in case there would be a whale getting more coins than devs, which would imply the ETH company would not be in hands of DEVs but in whales hands. And that's not what i would call "decentralization".

AS for mining, week after week my statements are proving true. Mining, top tier mining is not profitable nowadays. you can only win money by mining shitty coins and trading to BTC. not because they are worth a lot, but that difficulty level in those coins allows you to get a big number of them.

the problem of ETH is not even the price, it's the difficulty. Because if we could all get 1 or 2 ETH/month on a 12 gpu mining rig, the price would be a smaller problem. But once you see difficulty going up, price going down and electricity costs always there.....it's obvious that you are getting rekt.

Actually not. If many devs move like monero ASICs can die, but for now most of ASIC-related algos like x11/sha256/blake is ok. And who knows what will come out in the future

This seems like a great idea but someone has probably done it before. The difference is that they also probably kept it to themselves. You can imagine how profitable it would be to run those GPUs for themselves while everyone else is stuck with consumer priced GPUs. If they are savvy enough to build their own GPUs they will be savvy enough to build their own mining farms. People have probably done this before and may already be mining and profiting from it. ETH difficulty never ends.

Bitcoin private on the other hand, could be a good investment. They just started and they haven't really gained much traction yet. They are behind the zClassic coin and seem to have a decent team. This could probably be in for a few more pumps before reaching a stable price so mining it could also be a good investment.

GPU mining might not die but mining profitability is very close to die and that is ethereum which is the most profitable coin right now per whattomine charts.

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How low can eth's profitability get, right now if you pay lets say $0.2 for each kw which is most of the world, earnings per day with 30mhs 24/7 is only $0.15, now take another 30% which is what usually pools steal from you then that goes to $0.10. Return of investment right now is 4000 days which is more than 10 years, how low can eth's profitability go? amazing how low it is right now. I'm so negative about things and yet I have never considered this unless asics are in the eth network which I'm 100% certain there are.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.2&hcost=450.0&commit=Calculate

If this crash had happened a little after the fork lets say in November then things would not have been bad like this. The problem is bitmain and co will never remove their asics from eth network cause as each 30 mhs is giving to gpu miners only $0.10 per day, bitmain and co asics are earnings 100x  more than that.

The only way forward for eth is going pos right now or change algo, that will give profitability back a little to gpu miners or maybe the best thing is to move to hybrid pow with changed algo and pos, killing off bitmain and co asics is the only way to move forward if still pow.

I don´t think that GPU mining will die in 2018 --> On some coins that now are worth to mine with GPU yes but GPU mining will ever be present

Bitcoin gold doesn't even have a unique algorithm but using zcash's equihash algo which shows how serious they are. Soon their marketcap will fall below zcash's mc.

We need to show complete resistance against ASICs as a community. We need to boycott them and never do business with their proxies. (Such as bitpay)

They are about to destroy the whole thing. Devs should think about the solutions too. Ravencoin's new ASIC immune  algo looks promising. Too bad that's the only thing they offer.

ASICs mining is already die

Or you can join team Bitcoin gold and make Bitcoin decentralized again

If this is true I'll leave cryptos
Decentralization iss my $%%$
Bitmain are dominating everything, this is not the idea

I'll sell every coin I have, and join the team against cryptos

Let's see if the devs will have balls to do what Bitcoin devs didn't

bro  those potatoes  will be forked over and over and over again.

By July 1  Both  zcash and monero  will be fucking forking fucking french fried freaking potatoes into pieces.

Asics will rue the day they attacked  gpus coins.

I look into your twisted mind and see your plan to scoop up discounted gpus  from those  that panic.  I will simply shut mine off  since they are paid for and fire them up  when the time comes to do so this July or August.

"Analyst firm Susquehanna has cut AMD and NVIDIA's share price targets on the wake of confirmed reports on Bitmain's upcoming Ethereum ASIC. There's been talks about such a product for months - and some actual silicon steering as well that might support it. Susquehanna, through analyst Christopher Rolland in a note to clients Monday, cited their travels in Asia as a source of information.

This has brought confirmations that "(...) Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18." And it doesn't seem Bitmain is the only company eyeing the doors of yet another extremely lucrative ASIC mining market: "While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development.""

https://www.techpowerup.com/242717/nvidia-amd-to-face-worsening-investment-outlook-as-bitmain-preps-to-launch-ethereum-asic

The end looks to be closing up hehe, soon your gpus will be only to bake potatoes hehe

ASIC is ASIC and memory is memory. ASICs use memory if required(fuck why not?), more than that ASICs often based around RISC CPUs(some low end ARM 9 for all the surrounding stuff may add a few bucks but solve lots of issues. I'd guess that if you build an ASIC miner you won't put ARM core for each algo solver though...)

And as for the GPUs usability just a thought for you: when Google were teaching(neural network) their Google Brain they have acquired few thousand GPUs for that purpose.

Moore's law is not really a law, but it states that the number of transistors on a piece of silicon would double every 18 or so months.
So WTF are you saying?

Also there's very interesting time coming to the industry with "silicon wall" issue. Practically it means that there will be no smaller "traditional" process possible after around 5nm - the existing fabs would need to have serious upgrades and it's not yet clear what will be the direction...

I bought them by $400 once upon a time. Now I would not buy them more then by $300. It is does not worth it

that will happen for sure ... but you have to sell free enough your cards ... we bought 1070 fpr 340 price now up to 700 =))

seems right now even "mining" cards are 95% stock video cards, just with no display connectors. everything else is the same except maybe the bios.

i wonder how far a REAL mining card could be stripped down if it didnt need to conform to the pcie spec physically and electrically.  only needs a 1x pcie connector, a few pcie power connectors, a GPU, memory and few glue chips and thats it. so it could be much less expensive, fit into smaller (non standard mining only) cases, reach higher rates (tweaked memory and timings and controllers, say 512 bits wide or something [if that can be done i gather memory bus is baked into the gpu, but maybe bank switching or something can be done]). twice the compute power in half the space. would be sweet.

just need someone to step up and order bare gpu dies and go to town.

ASICs violates the main rule of crypto cureyncys - decentralisation. Also it is scum becouse retail customer now could not get gain on them. Only big producers in China.
So if community wants to live further there is no way but frequency forks to destroy them.

It's about time devs do something about it because as far as difficulty goes, i see all major/popular altcoins are already compromised by asics. You trolls see the price crash, I see asics on the play. There are no nvidia gpus anymore in the market and yet all equihash coins difficulty silently still goes up. The thing is already damned and yet they damn a lot more for the small fry. They are evil to no end but no matter, punishment in different forms will come to them very soon.