Topic: Is Cryptocurrency Mining Dying? GPU vs ASIC | VoskCoin Crypto Farm | August 2018 (Read 1840 times)

You're just one giant block of spam

marvell what are your thoughts on the longevity of GPU mining?

^
This

I guarantee if we were still in an ultra bull market they would still be mining heavily, like he said profits are shit now , they already killed cooked and ate the golden goose.  U bitmain shills can have all the refurb Asics u want.

If profits come back on existing or new algos they will be back but for now thier moving on to more profitable enterprises aka ICO scams

I personally believe that Bitmain and all other major manufacturers along with the "secret" groups of course mine in private. I believe Bitmain has partaken in this increasingly less or not at all at this point, for multiple reasons including the fact that the vast majority of earnings have been sucked up already . . what is the point of them secret mining now? They are under a bigger magnifying glass than ever and the profits are absolute shit lol

the chart referenced above, clearly shows that if you're looking to point out secret mining, SIA is not the crypto to do it with

  give me a few minutes

here is btc for s9i's

https://www.blockchain.com/en/btc/address/1KPCRjVAoAqaK8ZMbj17fnBtAFd9JHG6jj

they moved it to this address

https://www.blockchain.com/btc/address/1GyT8JDvh5cTpsLTXbGtgNjiEgzAfoJpWf

then here

https://www.blockchain.com/btc/address/3FaYVQF6wCMUB9NCeRe4tUp1zZx8qqM7H1

Nope, it is not dying. In fact, many miners still gain profits from mining. It just depends on what crypto you are mining. Also, You can mine POS coins which consume less electricity that POW coins. So this is much more profitable. It is not dying, it is in fact growing. Proof of stake coins is starting to gain popularity. If you just research it, it is much better and much profitable than POWs. I think you are generalizing cryptocurrency mining in a perspective of generalizing cryptocurrencies in POW only.

Again all the A3 launche was again thier scorched earth tactics to destroy baikal and mostly oblesik , by making thier machines doa, same thing they did with x11.  Theres nothing strange about it , they didn’t like competition

Bitmain shills out in force I see, honesty no one believes a word that comes out bitmains mouths
and their shills included.  No evidence that they don’t have secret farms? lol

I invite you to look at the charts again.  Here is the hashrate graph... notice that hashrate was negligible before ASICs were introduced.  Then notice the hashrate after ASICs.  If Bitmain were mining with thousands of ASICs before the official announcement, you would see it in the graph.  The bursts before the announcement were tests.  How else were bitmain and innosilicon supposed to test their product?




Now, here is the difficulty charts again... notice the very small increase in difficulty before the official release of ASICs.  Again this is indicative of testing.  Look at the difficulty after ASICs... again... if Bitmain were mining with thousands of ASICs before the official announcement, you would see it in the graph.



The amount of money mined during testing is irrelevant, because the ASICs would dominate during these bursts.

Things seem to always lean towards centralization, there can be a lot more efficiency

A business that can buy larger quantity volumes of products to sell can get lower discount deals and therefore make even more profit

This is why I am a fan of CPU Only mining coins, you can always be a miner

I still think GPU mining is a good investment if you feel its too risky to just buy or you want a side investment, graphics cards seem to hold value VERY well

"In total, 550 blocks were mined in secret during the 2 months previous to the Antminer A3 announcement, representing around 85 million Siacoins in block rewards. According to CoinMarketCap, the value of Siacoin oscillated during November and January on the range of 0.5 and 11 USD cents. Interestingly, the maximal historic value of SC was reached on January 6th, 11 days before the Bitmain announcement. Depending on the moment they sold their “warchests”, they could have obtained something between $0.4 and $9 million from the secret mining operation. According to some estimations, the development of the A3 costed Bitmain $10 million. If they planned the trades carefully, this means they could have recovered the whole cost of the ASIC development just by secret mining during those 2 months."

= "testing"... LOL

You do like jokes, don't you?

"This, of course, on top of the $74 million in sales profit just from the first 2 batches ($2300 per unit and 33,000 units as we explained above)."

LOL... I did.. and the graphs show that there were bursts of ASIC activity before the official announcements.  That is indicative of testing.  If they were mining to make real profits then you would see more steady network hashrate, and then a dropoff before announcing the product, as they packed and shipped the "used" miners.  That's not what the data shows... it shows bursts of testing for a couple of months.

How else were bitmain and innosilicon supposed to test their product?

Yes agreed with BTC asics that's why they moved on to crush every other blockchain because they are greedy bastards, dash miners and sia are in the negatives now what im saying is the same is going to happen to zec and eth asics drive the difficulty up. Also it's known and has been admitted by bitmain that they have kill switches on all the asics they sell how decentralized is that it wouldn't surprise me if they are somehow skimming a few hashes from everyone's miners

"The most interesting fact is that the oldest block we can track of Antpool is #132204, dated on November 17th, what means that Bitmain mined Siacoins in secret for exactly 2 months (as the Antminer A3 was presented on January 17th). Antpool collected 488 blocks in total thanks to their exclusivity using ASICs, using their brand new hardware in secret."

so...
read whole article carefully again
and again...
and again...

Not true about asics. We have hit the limit with Moore's law and improvement in hardware has been very slow. S9 was out two years ago and we have not gotten a better miner yet from bitmain. Chips can't get any smaller with current tech.

Mining is only dieing for the ppl who thought they could jump on board and strike it rich when BTC hit 20k for the rest of us who are here to support crypto and have seen the same thing happen when scrypt asics came out mining is not dieing just a little closet cleaning for a the greedy bastards who only care about Fiat, and everyone who's complaining about profits who ran out and lined bitmains pocket this is what happens you will never make money on a asics coin why? Because you have to constantly upgrade to the newest miner as difficulty goes up and up

The first graph tells the true story... Sia hashrate was flat until the Bitmain ASICs delivered.  The rest is easily explained in bitmain and innosilicon developing, testing, QA before release.

https://medium.com/@salva.enkidu_89587/how-bitmain-indeed-mines-coins-in-secret-2ea179e7ab75

It's a simple supply vs demand scenario for both the first batch off bitmain ASICs and first run GPUs.  Surely you don't disagree with that?



And limited supply based on whatever competition they might have.  Potential capital recovery times are a big factor in pricing of that first batch... we agree.



It's a wash price-wise.  Take the Z9 mini for example.  A $2000 batch one price with a 2 month head start in mining over batch two that sold for $850 is a wash over the lifetime of both batches of Z9 minis.  There might be bread crumbs of difference over the life span, not taking into account coin pricing fluctuations... but believe me... bitmain does their homework on batch pricing.



Altcoin pricing is highly volatile, and heavily dependent on bitcoin pricing.  Bitcoin ASICs lifetime performance is fairly predictable over it's useful lifespan when you take into account the exponential difficulty/hashrate increases.  Litecoin ASICs have enjoyed a nice ride over the past year, with early adopters gaining the most bang for their buck.



The D3 was a strange scenario.  Baikal was the only game in town before Bitmain came on board.  But let's not put the blame solely on Bitmain here... people were buying their product... they are just as much to blame.



Evidence please.  Beyond development, testing, and QA there has never been any definitive proof that Bitmain has done this.  There has certainly been a lot of conjecture from people saying "that's what I would do"... which just shows you the greed that people have... relates to the D3 point above.

BUT if you were first batch you got a sweet t-shirt