Topic: Wake up people and dont buy asics (Read 703 times)

I have noticed owning both ASIC and GPU rigs that the GPU tend to hold their own in terms of profitability per day whereas the ASIC's tend to only go down. 

The ASIC's are super easy to set up and i haven't had to troubleshoot them at all in months where there was a big learning curve for GPU's and a lot of troubleshooting. 
From only that perspective, the ASIC's can be easy for individuals to set up and run in a corner of their house. 

However, the centralization of ASIC's is frustrating because when the difficulty rises from a new operation going live profitability is affected greatly in a short amount of time. 

I have been mining ETH solo and the time frame hasn't really changed much with the difficulty.    Mining LTC has gotten much more difficult over the past few months to where only with a massive price increase would it be profitable to buy another one and be ROI by the end of the year. 

ASIC's have their place, however bitmain is something akin to amazon.  While it is super easy to shop and watch and sell and read and etc. on amazon.   What are the future setbacks that havent been considered. 

Bitmain has the market cornered and if I were them I would be doing the same thing.  That's called business and they have the cash flow to do what they want. 

However, what are their implications for the space in the future.   They are out-competing competitors  (Obelisk is one)

I don't have any answers to this, but it isn't about GPU vs. ASIC.  It is about centralization vs. decentralization. That should be the conversation, which should be balanced. 

The ethics of cryptocurrency need to be considered as well, not just the profitability.

My 2 doge.

All of you are hyprocritres. You say don't buy asics yet you buy asic coins like btc/ltc.

Shame on you

Yet another person talking out their ass about Bitmain when they have no proof of anything. Bitmain makes BILLIONS selling hardware, developing some secret custom hardware just to mine some shitty altcoins is so beyong a waste of time for them I cant believe you would even mention it.

yeah guys...

Pitty that BTC isnt asic proof, right?
If it was, we definately would have had a bigger coin eind 2017 right?
Stupid asic buyers...


Boohoohoo...

It's only natural for older version of the ASICS to get slower because developer develops more faster and incredibly new aspect for this equipment.

So if you have older versions, then buying coins at the same time is a good choice too, since your hash rate will become weaker when I'm goes by.

There will be no forks for Ethereum. Vitalik didn't cancel anything. He spoke that until the end of this year completely will pass to POS. He's not interested in the coin. He has very different tasks. All who now buy asics for Ethereum does not earn the money that was spent on the purchase of equipment.

You're right about his "quiet" promo, but other people read this thread too and I think it's important to help them understand what we're talking about.

PS Yahoo has his own signature campaign? How cute

It's not coins, it's algos we're talking about. Nist5 and X16 immediately spring to mind, there are others, too.

yes, I give my suggestion to my friends which want to start mining the coin. I tell them to not to buy ASIC because the choices to mining coin are not much depended on the GPU. and like you said, if we don't need that GPU, we can sell it to another gamer or another people which want to buy GPU. with GPU, we can have many coins to be mining and we can move from one coin to another coin beside that, we can build one rig with many GPU and of course, the hashrate will bigger too.

People who knows what is mining will not buy ASIC, because ASIC can do one thing, and will always have a better ASIC in the future.

But GPU can resell, and can switch to other algorithm.

Any ASIC will be trash in a few year, but GPU won't (at least slower than ASIC).

Vitalik really cancel the fork ? I missed it. If he does not plan to switch to pos soon, then I will be disappointed in the unicorn.

It is a battle between the software developer for coins and a hardware developer for asic. Asic developers know how to figure it out the security explots of the coins and making asic miner more effecient but lesser to an average joe gpu miners. It creates an unfair level of playing field but that is the nature of free market trade. It is all depends on how to capture the market and make more sales for asics. It is time for a better watchdog for software developer.

Their POW functions are not ASIC resistant. No such algorihm exists yet (at  all).

Good algorithm should require the high bandwith between GPU and host CPU, and should have high memory requirements both at GPU and CPU sides in order to decrease the scalability of rig.

The development team should be asic-resistant, like Monero.

Well, sooner or later they will wake up but it's going to be the harder way, when they loose money

We can not wake the people up if they still want to sleep. It is people's choice.

On the last days we are witnessed a real speculative movements by developers
Buterin cancel fork and bitmain double price of his asics
Bitmain could not agree with monero dev's and i am respect him

sometimes, they can not think of opportunities when their device (ASIC) no longer has a profit and resale value this is different from Mining Rig at least GPU can play the game if no longer have the advantage or can sell it.

Usually the people who buy asic miners buy them to mine heavily the coin they want to mine. They think that owning an asic miner is better as it gives greater profitability. While this maybe the case , it is true only in the beginning because as soon as many miners hit the market the difficulty skyrockets and within 3-6 months this devices are almost out of play. I prefer to mine with grahic cards and I like wha Monero devs have done to stop asics.

Actually, developers, manufacturers, and marketing have succeeded in creating a dilemma in mining and miners have a lot of perceptions. The ASIC industry has successfully "tested on the water" of their products and saw the people reactions involved in cryptocurrency.

+1 Miners must pay more attention to the importance of decentralization.
Monero DEV team just teaches everyone the way to be follow.
It can be done with more coins IF they are really serious coins and not just another scam.