Topic: the future of gpu mining (Read 769 times)

This shit has all happened before... a few times over. Bitcoin, then Litecoin, then ETH and more recently a huge bubble and hundreds of shitcoins.

I started mining ETH more than 2 years ago and when I started I was making 5 ETH every 2 or 3 days. I once had nearly 200 ETH. I sold most of it when ETH got to $50 thinking about the times when I saw it down between $8 and $15. Obviously I should have HODL but hindsight is 20/20.

The only thing you can do in times like this if you have GPUs is to find a coin/project you really believe in - meaning do lots of research until you understand what it is trying to achieve and understand it, and then mine it and HODL. Choose 2 or 3 of these and don't dump them unless you are sure.

You might get lucky but you probably won't. Don't be like me and sell something at a 20th of its ultimate value! HODL!

Right now I mine mostly Loki. I think it has potential and it has a great dev team. I also sometimes still mine ETH because although the difficulty is ridiculous and reward tiny - it is still one of the most ambitious blockchain projects ever realized and underpins hundreds of other projects. Most of them are scams or vapourware but maybe 2 or 3 of them will one day actually do something that will be "mainstream". Then ETH will be worth more than BTC.

What good? Let's try for a bit.. Who was getting most of XMR before the fork? (hint: They had 200Khs miners).  THey were very easly attacked before the fork now they aren't. Is this enough "good"?

I am hanging on... my combo GPU/CPU operation is still at over 3x power costs so it's totally worth it still (0.07 cents per KWH).

I don't think that's going to happen. Probably all existing coins are doomed. But the developers of the new coins will use algorithms that will protect them from asics. Almost all asics will only make money for the companies who produce them. They mine coins and increase the complexity of the network. After that, they sell asics to users but it is impossible to return the invested money. How long is this fraud going to continue?

Bitcoin has been around for a long time. At present, mining has shifted from GPU general computing power to ASIC dedicated mining machines. Although Ethereum still uses GPUs for mining, it is more cost-effective to design an ASIC in the future due to the expertise of mining. However, new virtual currencies will continue to emerge. This market will always have a place for GPU mining. In addition, I believe that different chips have their strengths in different positions depending on their own advantages. In the future, the further rise of deep learning will accelerate the demand for GPU.

GPU’s are hot market both for gamers and miners. Their prices are at 150–200% of regular prices from couple of years back.

I think we should wait and evaluate the release of a new generation of graphics cards.Perhaps they will be more profitable mining than previous versions. Maybe the ratio of price and power will be more profitable.

Phi, lyra, X16R, neoscrypt...

ETH is far from POS, especially full POS.

What bad did happen for monero after the fork occurred?

ASICs provide nothing, escpecially if the network is ASIC only. Nothing prevents a deep pocket actor to own 51% of hashrate in an all ASIC environnement. And bye bye decentralization.

ASICs won bitcoin only because the devs allowed it.
Cryptonight based cryptos (well most of them) fought back, now as far as I know, there are six more variations of the CN algo, so seven different algos to mine. ASICs might come again on Monero and Heavy variations, but the smaller cryptos - that use their own variation - are out of danger of ASICs. Not the same game for modern FPGAs, they outclass current GPUs. But next year AMD will have 7nm GPUs, NVIDIA next gen is good for mass production.

Did you ever think that those attacks are being done by ASIC manufactures because the algo's forked away from ASIC. And these companies are pissed off! What better way to get the algo's to accept ASIC to protect there algo... We are talking about billions of dollars!

What good did happen for monero after the fork occurred? Nothing. Now cases of attacks 51% have become more frequent. This is only possible on algorithms that use mining GPU. Asics provide an opportunity to increase the network hashrate to avoid such attacks.

This is very hard time for gpu mining. I'm rethinking about resale (sell Rx580, and keep P106-100 to mine) my GPUs, the fact is I already got ROI, the current profit is not that much, I even think next 2 months, GPU mining is not worth, just enough to compensate electric fees. The problem is it's not easy to find and to consider which asic-resistance coin is worth to mine. ZEC - difficulty flied yesterday, ETH - gpu may not mine in next few months (due to PoS or new asics miners), XMR - I'm still mining it, but not sure how long we could get profit. I'm quite skeptical about gpu mining.

That's pretty contradictory statement right there. ASICs by definition are Application (you could say too, Algorithm) Specific Integrated Circuits. If you are talking about hardware that is multi-application/multi-purpose then it would no longer be an ASIC. You could be referring to what is called the FPGA.

On topic though, i do believe ASIC resistance is possible. An automated algortihm which switches algorithm on a random periodic basis would make it so difficult and costly for ASIC developers that it would be no longer worth pursuing development of the ASIC. I think..

ASIC resistance will not last forever. Even the X16r/X16s algo won't be safe some time soon. I intend to keep my GPU's for speculative low difficulty coin mining. If you are lucky enough it might turn from shit to gold.

The fact the most people in the world got a gpu/cpu its the best way to make a network decentralized. There will always a demand towards gpu mining.
Maybe it will switch in the future where there will be affordable asics with multi algo support.

I think that ASICs are evil, they are obstacle to decentralization, only GPU mining can give true decentralization, but also I can see that all new coins are trying to build their blockchains on POS mining, maybe in future POW mining will go on the second plan, except maybe Bitcoin.

True, but I'm seeing a lot of big players shying away from forking, which I can't really understand. I am not an ASIC guy, and much prefer mining with GPU for resale value after mining. I wish more coins were eager to fork away from ASICS, but I suppose in the end, it would turn into a game of cat and mouse.

Its a kind of method mate. If you want to mine the coins you should research about best algorithm at that moment and go to mine that coin mate. There are many people goes to mine the bitcoin and ethereum. For good choice you check any one which is good at the time only.

Even the option you have to mine in the Nicehash. You will be getting the reward in the bitcoin for the algorithm profitability.

I think Gpu mining will continue for at least 1 or 2 years undisturbed. Even though ASICS are expanding at a very fast speed the number of people adopting them compared to the number of people adopting Gpu mining is relatively small when we compare those numbers together.

I am happy that Ethereum reward is up daily with a 180 mhs mining computer compared to what it used to be 3-4 months ago. This means many people have shut down their mining computers, a wrong move in my opinion.