Topic: GPU mining will die in 2018! - page 24. (Read 16909 times)

I hope this things shall not be happen because I did not try this I want to experience mining someday.

That is a very simple minded statement.

GPU mining consumes too much power.

But eth is underperforming not just against BTC, is against some other altcoins, ETC, Ripple, for example. as you can see:

https://bittrex.com/Market/Index?MarketName=ETH-XRP

It's underperforming, because BTC is and will always be the Big brother in this race. Everything is still compared to BTC..

Hello Metroid, I agree with you that there are an increasing number of projects based on eth, and also the plans to develop the eth network to be capable of process 1million transactions per second makes eth project and the ecosystem very interesting, and a project with a bright future.

This fact could lead to an increas in the value of eth, if the supply of eth won`t be increasing, but seems that the mining power is growing day after day and with the new nvidia generation and the x-file supposed "secret asic miners" this could means that the increased demand for eth is covered with all the growing mining power added to the eth network, if just a theory, I have not the numbers, but we need to take in account this factor also when making predicitions about future eth value.

I wan`t to say that I'm also investing in eth, but I'm trying to figure out why eth is underperforming in 2018 compared to other altcoins or compared to btc.

Mining and Blockchain is a soulmate.
Please dont kill them.

GPU-Mining will be killed after some ASIC is launched. Bitmain and other ASIC company already launch ASIC for theyself, example Cryptonight (on sale) or Ethash (hidden mining)

My reply had everything to do with the argument as I implied btc at moment still leading the market but not for long as I pointed code wise btc has not made any advances since 2008 whereas eth have since its release which was  about 3 years ago, yes eth still behind btc cause it started recently the mass adoption of the services within the network.

I will quote this ""What you're seeing with ethereum is exponential increase in the number of projects — there are billions of dollars being poured into the ecosystem right now — maybe 10 times more projects this year than last year, which could easily lead to a doubling, probably a tripling in price by the end of the year,".

https://www.cnbc.com/2018/01/08/ethereums-co-creator-predicts-a-flippening-with-bitcoin-in-2018.html

You people have no idea what is going on behind the curtains so you should watch yourselves carefully. Bitcoin is old, decrypt and the only good thing it has is its name.

Your reply has NOTHING to do with the argument.

I am simply saying that any coin, including ETH is dependent on BTC. But you have a another argument and I will feed you...

As far as the coin they are COMPLETELY different coins. ETH is a platform designed for fast transactions, and a blockchain to ride on for other projects. BTC is a rare commodity / digital currency to hold. In the end there will be no comparison in price (as there is not currently) as ETH is not designed to be valuable or to give anyone wealth. They are shitting out as many BTC there will be total, per YEAR. They started with 3x the cap of BTC. How can you ever thing it would be worth more than BTC?

That last BTC coin will be mined long after we are dead, and our grandkids are grandparents themselves. But...watch a few more years. BTC will be disgustingly high. More and more people will want it like a chuck of gold. And that is what it will become. ETH will be like the penny lol. BTC will be the 10 million dollar bill that never existed.

With that said, I still own ETH. It still has much value to gain. But there are just too many for it to even be worth 1-2% of BTC shortly. Right now 1 ETH is worth around 6% of a BTC. We will see how that number looks in a few months. All coins will gain, but ETH over BTC? Come on man.

I have been since the very beginning end of 2008 and that time i mined bitcoin with nehalen i7 920 socket 1366, was amazing cause it was the first native quadcore with 8 threads, and yeah I have no clue what the hell i'm talking about it. Go look in the source code at how bitcoin was in the end of 2008 and now and look how eth was in 2015 and look now. I'm giving you hints, now is up to you to do your homework.

If you think that, you have no clue.

Coins are measured against sats. End of story. The system has to change.

If you are confused, check this out..

https://twitter.com/cryptomanran/status/937298106894438400

If BTC goes to $0, so does it all. I can point out plenty of coins that are technically worth more USD today, but selling for less sats than they were sunday. How did they raise in price? It is because EVERY coin is valued against BTC. Doesn't mean you shouldn't buy alts, but it does mean you have to learn how the system works. Check the bull run on Sunday. Then check the eth correction. You really think people bought that much btc and eth at the exact same time? No. Its because ETH is measured against sats. ETH actually hasn't gone up at all sunday. Just selling for just a few sats more is all. EDIT - ETH HAS GONE DOWN SINCE SUNDAY. It is currently trading at -3.5% against BTC over a 24 hour period.

https://coinmarketcap.com/currencies/ethereum/

Look at the 1day, you will see ETH is falling. Ignore USD its not relevant, look at the BTC patt. ETH has become a weak coin lately. It fell sub 500 this crash. It is a dump and pump coin. I know 2 groups that have buy signals on ETH, yet nobody is buying. The only, and I mean only reason ETH hit $1400 is because it was pumped by several groups after BTC topped out end of 2017. You will not see ETH close $1000 for sometime. BTC would have to be in the 15k range for that to happen.  

This may change some day, where coins are measured against USD not BTC, but for now any coin is based off how much BTC is worth. ETH could become worth more than BTC (not in this lifetime, I promise), but it would still be worth based on what BTC is worth.

Its kinda like, if the american dollar died, how much would your stocks be? Same here, if BTC died how much would your alts be? You can think of BTC as the equivalent of the USD when trading into alts. That is what you are trading against.

For some reason so many people do not understand that concept. Even "cryptoman" on twitter bought alts for 5 BTC and sold them for 3.1 BTC. And then asked if he gain or lost. Well...um you paid 5 BTC and got back 3.1...you lost pretty bad..

What eth network changes are you referring to?  I hate to give up on btc, but I'm with you on eth.  I'm currently around 70% btc, 30% eth.  And I keep thinking I should buy more eth.

Thanks Metroid, at the moment I have something like 50% BTC --- 30%ETH ---20% Another Coins

Hey @BitcoinSupremo, you forgot that in December we have double marketcap than today

It's going to have to be cut in half about two more times, before I would even consider stopping.  My current daily average for the month is 0.00629 btc ... 31 gpu's 1070ti's, 1080's, 1080ti's, Vega 56's ... NiceHash.  Thinking about switching my Vega rig back to etn. 

It looks like GPU mining death has already started. A mining rig with 6 x GPU RX 5XX series with modded bios is only making 0.0008 BTC daily while in December they were making 0.0016 BTC daily. I hope I am wrong but things are not looking good for GPU mining.

Is there any coin that can never/ever be mined by asic? GPU mining has it's adrenaline, but who gives us any choice? Bitmain will come and build asic, yes they are more profitable but can't they just get out of altcoins? They killed sia mining, don't want ether to be next in queue.
Btw on another side I think asic on ether will make it more popular than bitcoin, just my opinion.

The only think I can tell you is that I see the big picture and I think eth is right now the most complete coin to exist and that is where most of my money is in and where most of my money will be going to.

ETH changed a lot and because of those changes I believe on it. I used to be anti-eth till some changes were placed to the network. The most important thing is the network for me and bitcoin is lagging badly on that, bitcoin has a great name and that is it.

Metroid, what are your choice of coins to invest?
I always wanted to know

I think you like ETH, it's obvious, but tell us more

eth is always the last altcoin to rise and when it does it rises a lot, has always been that and that is part of a huge manipulation, now eth is 0.06 x btc, in few days it could be 0.12, it will rise a lot given time, eth's real price right now x btc is 0.195.

What you say is simply retarded.

How can you compare bitcoin to any other shitcoin while bitcoin has the most dev activity? It has the most trusted blockchain. It is the reserve currency of the crypto world. (Like USD of the FIAT world) Everything bitcoin invents becomes the industry standard sooner or later. For Example: Segwit, Lightning Network and many other tech. What other altcoins do is nothing than copy&paste core's work.
See how many contributors there?
https://bitcoincore.org/en/releases/0.16.0/

I can compare ETH to cardano because ETH has nothing special over Cardano at all. There is abolutely nothing special to eth. It already got damaged hugely after the DAO hack and the next one will be PoS debate.