Is the release of a new ASIC for mining Eth a good thing for its price?

Crypto_lion

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Quote from: Donovan XXL on March 29, 2018, 03:05:52 PM

It is said that a powerful ASIC for mining ETH will be available soon.
I know nothing about mining so what kind of of impact do you guys think it will have on the price of Ethereum?

Naah I don't think it is good for decentralization. Anyway Ethereum will will move to proof of stake model soon. Anyway I want to know what has stopped bitmain from making a ASIC miner for eth till know . Are there any technical difficulties?

yua_na

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Quote from: toptek on March 30, 2018, 05:21:25 PM

Quote from: Bencus on March 30, 2018, 04:34:06 AM

Quote from: pinkflower on March 29, 2018, 11:19:49 PM

No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?

It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.

Quote from: yua_na on March 30, 2018, 04:05:08 AM

I doubt about the news there will be asic miner for eth. Ethereum as far as i know is asic proof because of DAG. But if someone created asoc miner for ethereum it will be obsolete or no one want to buy it. Because people will choose staking their ethereum then mining it.

If such ASIC would be created, which would be good for ETH, it would be loaded with RAM and DRAM.
But not only ETH uses memory intensive mining, so I dont think the investment into such ASIC would be a bad idea.
Even if ETH would switch to PoS, there are other coins to be mined with such an asic, like:
VTC, ETH, XMR, GRS, FTC, AEON, Zencash, Btcz, DMD, NAV, and might be others (these are the ones I found).
While it is true, that ETH might switch to PoS, but there are plenty of other options to mine with a memory-stuffed ASIC.

Note: I only found one rig, Bitmain F3 ASIC Miner, it will come out in 2018 Q2.

Please explain how Destroying mining is a good thing ....? .... I'm willing to bet your reply is like the Republican's reply here in the US for healthcare , schools etc which is not good for any one but them or your self , ASIC miner will always be bad unless they lower the price of the miners an share the wealth So everyone can enjoy it, there is plenty to go around,they make more money then they will ever need or use in a life time .......

I agree with all you though. Those are who love asic mining is destroying the mining and make mining is not fair. They will definately reply your comment like republicans. Asic miner will only for asic factory and we are as a user will never get our invesment back unleash the price skyrocket which impossible when asic mining is out.

pinkflower

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I agree with toptek's comment above. ASIC mining for ETH will centralize its mining process and give ASIC companies like Bitmain more power and it will have some capacity to effect Ethereum's development.

toptek

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Quote from: Bencus on March 30, 2018, 04:34:06 AM

Quote from: pinkflower on March 29, 2018, 11:19:49 PM

No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?

It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.

Quote from: yua_na on March 30, 2018, 04:05:08 AM

I doubt about the news there will be asic miner for eth. Ethereum as far as i know is asic proof because of DAG. But if someone created asoc miner for ethereum it will be obsolete or no one want to buy it. Because people will choose staking their ethereum then mining it.

If such ASIC would be created, which would be good for ETH, it would be loaded with RAM and DRAM.
But not only ETH uses memory intensive mining, so I dont think the investment into such ASIC would be a bad idea.
Even if ETH would switch to PoS, there are other coins to be mined with such an asic, like:
VTC, ETH, XMR, GRS, FTC, AEON, Zencash, Btcz, DMD, NAV, and might be others (these are the ones I found).
While it is true, that ETH might switch to PoS, but there are plenty of other options to mine with a memory-stuffed ASIC.

Note: I only found one rig, Bitmain F3 ASIC Miner, it will come out in 2018 Q2.

Please explain how Destroying mining is a good thing ....? .... I'm willing to bet your reply is like the Republican's reply here in the US for healthcare , schools etc which is not good for any one but them or your self , ASIC miner will always be bad unless they lower the price of the miners an share the wealth So everyone can enjoy it, there is plenty to go around,they make more money then they will ever need or use in a life time .......

SPINPIX

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i don't think it will a good thing for the price, it will be harder for gpu miner to mine and it will become like bitcoin mining, all concentrated in china in the hands of few people. as a gamer it's a good news because maybe the gpu price will start do decrease

2stout

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Might not be good for its price but will more likely result in excellent buy opportunities.

aceptamosbitcoin2

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Quote from: aceptamosbitcoin on March 30, 2018, 07:16:19 AM

Quote from: pinkflower on March 29, 2018, 11:19:49 PM

No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?

It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.

You are partially right.

Yes, we are losing nvestment by Bitmain and the rest. What I read is that 3 smaller players soon will be ready with their own ETH ASICs.
But after Dec, you will be able to mine many other coins after the POS ETH switch. If ETH switch to POS...

I think the price will goes up because the ETH ASICs will introduce many new players into the mining scene.

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iryboy

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Quote from: Donovan XXL on March 29, 2018, 03:05:52 PM

It is said that a powerful ASIC for mining ETH will be available soon.
I know nothing about mining so what kind of of impact do you guys think it will have on the price of Ethereum?

They have maximum time by December 2018 after that it'll be not possible to mine as previously. I don't think so people will risk their money for the short period of time.

aceptamosbitcoin

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Activity: 981

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Quote from: pinkflower on March 29, 2018, 11:19:49 PM

No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?

It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.

You are partially right.

Yes, we are losing nvestment by Bitmain and the rest. What I read is that 3 smaller players soon will be ready with their own ETH ASICs.
But after Dec, you will be able to mine many other coins after the POS ETH switch. If ETH switch to POS...

I think the price will goes up because the ETH ASICs will introduce many new players into the mining scene.

preshpr1nce

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Activity: 266

Merit: 60

Is there even value mining Eth at these prices? would want to hope you've got free power.

Bencus

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Quote from: pinkflower on March 29, 2018, 11:19:49 PM

No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?

It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.

Quote from: yua_na on March 30, 2018, 04:05:08 AM

I doubt about the news there will be asic miner for eth. Ethereum as far as i know is asic proof because of DAG. But if someone created asoc miner for ethereum it will be obsolete or no one want to buy it. Because people will choose staking their ethereum then mining it.

If such ASIC would be created, which would be good for ETH, it would be loaded with RAM and DRAM.
But not only ETH uses memory intensive mining, so I dont think the investment into such ASIC would be a bad idea.
Even if ETH would switch to PoS, there are other coins to be mined with such an asic, like:
VTC, ETH, XMR, GRS, FTC, AEON, Zencash, Btcz, DMD, NAV, and might be others (these are the ones I found).
While it is true, that ETH might switch to PoS, but there are plenty of other options to mine with a memory-stuffed ASIC.

Note: I only found one rig, Bitmain F3 ASIC Miner, it will come out in 2018 Q2.

yua_na

full member

Activity: 434

Merit: 175

I doubt about the news there will be asic miner for eth. Ethereum as far as i know is asic proof because of DAG. But if someone created asoc miner for ethereum it will be obsolete or no one want to buy it. Because people will choose staking their ethereum then mining it.

pinkflower

sr. member

Activity: 868

Merit: 259

No because those ASIC miners will be useless by December, 2018. Ethereum will be switching to their new PoS system called Casper, remember?

It will also be a losing investment by Bitmain and the rest of the ETH ASIC producers, if you ask me.

Donovan XXL

newbie

Activity: 210

Merit: 0

It is said that a powerful ASIC for mining ETH will be available soon.
I know nothing about mining so what kind of of impact do you guys think it will have on the price of Ethereum?

Topic: Is the release of a new ASIC for mining Eth a good thing for its price? (Read 202 times)