Topic: Will eth coin rescue btc coin from asic builders? (Read 890 times)

you need  100mh to be in the solo game  .  less then that  you should pool mine.  

oh cap is now

btc 6.8 billion
eth 1.2 billion

source

https://coinmarketcap.com/

As it stands eth has dot to the point where you need proper hardware to mine and actually get anything. Ive been mining with 20mh/s and havent hit a block in well over a month now, Even if bitcoin were to swap to gpu mining i think it would quickly become impossible to mine with anything other than a warehouse full of gpus.

they only need say  good for mining with your gpu.


but frankly  they only need to buy some coins here and there to keep price propped up.

I don't think Intel, AMD or Nvidia will publicly announce they are starting to buy massive amounts of alt coins so as to increase the market price of the coins and incite their customers to turn to CPU or GPU mining. One way of directly promoting alt coin mining would be to put labels on their graphics cards like "Certified for Ethereum mining" or "Tested for efficient Dogecoin mining" but I am not sure the manufacturers would like to put such labels on the boxes of their products as this may confuse most of their customers.

above is kind of what I am saying.

  The key  is to think of btc as the highway/infrastructure that all the gpu coins travel on.

In the real world   I don't build a road I drive on it I let my government deal with the road.

So BTC ends up having 5 to 10 mega farms  with basically 0 home mining.

And alt coins travel on the highway of btc.

All alt developers kill the alt coin that goes to asics.  They turn them into pos coins.

so like a car or a taxi alt coins are disposable.  The Highway (BTC) is not disposable.

Intel , Amd, Nvidia   all make money it this happens.

Desk tops make a comeback.  This is a workable plan.

Especially if Amd and or Nvida develop a gpu coin or series of coins based on this idea.

Think of mining like a rebate on your gpu card.  You can do it or not.

This is a real way to generate real pc sales for reasons other then gaming,office work, home theater.  It is an opportunity for players like Dell, HP Lenevo to boost their sagging desktop sales.

oh market cap since yesterday

https://coinmarketcap.com/

BTC dropped under 7 billion

ETH jumped from 1 billion to 1.1 billion

there is already a gpu coin that make the whole gpu altscene always profitable and... it's not etheruem it's not doge it's not ltiecoin, or whatever

but it's all the altcoin combined, all the altcoin out there create an environment that is selfsustaining and will always make in the end, gpu mining, always profitable

i think amd and nvidia can try to build dedicated gpu for the altscene if bitcoin become very big in the future, with a non-joke market capitalization like 1T

Why do they need to go with ETH? They can hire some Alt coin developers to create their own coin, and then partner up with some game developer to create a need for this coin, and Bob's your uncle. You make sure this coin stay Asic resistant or dependent on their proprietary GPU technology and you start milking the virtual cow.

They can even shift production and get into the Asic development and compete with current Asic manufacturing, because they have bigger production capabilities and loads of funding to back it up. ^smile^

gpu mining has been very profitable for AMD in the past..

when litecoin first started to take off you couldnt even buy a GPU new.. every place was sold out for weeks..
when they finally did restock, they sold out in minutes.


specially cards like the 7990.. you coudlnt even get that card for retail prices, no stores ever got any stock and online was always sold out. they were like 1000$+ on ebay..

they are such a great card for gpu mining they still sell for 500$ if you find one used.



altho i dont think AMD would directly pump a coin to inflate gpu need.. they could probably get into some kind of trouble doing that.

If I understand you correctly, this literally translate into big companies (Intel, AMD etc) basically paying people/miners a commission for buying and using their products. And miners using their profits to create demand in the Bitcoin market. In theory it does sound like it could be a mutually beneficial arrangement, however there are a few things that you need to factor in.
First off, all you would be doing would be to shift part of the ASIC needs from mining Bitcoin directly to mining Bitcoin indirectly because as more people resort to mining eth coins and that space gets more crowded/competitive, there will be a need for the eth coin mining setup to evolve.
Secondly, it'll be difficult to prevent eth coin miners from bailing out at the Dollar to BTC conversion stage. Hardcore Bitcoin believers will probably go the full cycle but there will be a lot of opportunists who will see this as a simple way (especially in the early stage) to make 'Dollar' profits without contributing anything to the Bitcoin network.

I don't think Nvidia and AMD care about crypto coin miners purchasing their cards for GPU mining. Intel is shifting their business to corporate and mobile solutions and I think their desktop processors are on the decline. By the way Nvidia and Intel have been doing so great lately that they don't need any extra revenue from miners. Have you seen their income statements? And AMD is too busy right now preparing to launch their new Zen CPU's and Polaris cards in the fall to be messing with any alt coins. They get so much money off corporate clients and gaming enthusiasts that it won't be worth it to prop the price of any alt coins.

so knowing that ethcoin1,ethcoin2,ethcoin3 is a churn (shit) coin with a 6 month shelf life, that no one should hold and instead instantly swap ASAP. i bring you onto my other statement


but then you have to ask.. if all of these miners are trying to sell their coins hoping for 1satoshi each... who is naively going to buy such a churn(shit) coin..

.. and now.. um.. i dont know what this part below is even trying to suggest..

none of that last part even explains what the incentive is for people with bitcoin to even want to hold eth1,eth2,eth3.. after all its an obvious churn(shit) coin and will be replaced every 6 months so no business will even try to use it as a payment option.

if you are looking for churn coins that are made just to get mined and converted into bitcoin, before the currency burns out after a few months, in replacement for another churn(shit) coin of a similar name.. please visit the altcoin section.. there are now thousands of them churn coins around and replaced every few months..

enjoy

I agree with the above posters. I don't think these companies would spend a billion dollars just to make a million dollars in revenue.

Most ETH miners these days are from the old 7970 GPUs which came out 5 years ago. There probably wasn't that many GPUs bought in 2016.

http://jonpeddie.com/publications/add-in-board-report

In 2015, over 5.9 million GPUs were sold (AIB discrete GPUs). Assuming in 2016, there is a similar amount. With 2.6TH/s equaling 130,000 GPUs, maybe 50,000 were bought in 2016. That's like less than 1% of all sales.

that is what you are missing.  Churning  it is  the game here.

Amd ,Nvidia , intel   make 3 algorithms with eth coin developer

 Eth coin 1  stays in place until   an asic builder cracks it
 Eth coin 2 gets phased in  to replace eth 1
 Eth coin 3 gets phased in to replace eth 2

coins are to be churned into BTC and or fiat by miners.  Do not buy and hold as buy as mine and trade.

it does not take a lot to see mining a gpu mining rig for a good coin is far better to spread money to legit businesses.

you are turning the gpu coin into the taxi cab to wealth.   but wait for it  taxi cabs need a road and infrastructure to travel  that is the  BTC.

so the 1 billion dollar cap of Eth coin travel on the 7 billion cap of btc

taxis wear out fast  so eth 2 eth 3 eth 4     roads are more durable mostly government in nature  so btc goes big farms 3 or four guys. local can do a little solo with old gear.

asic builders gear towards the big guy and do not bother chasing  eth aisc dreams.

this plan works for all.   lets see if it happens.

making a new coin that is GPU mined is temporary..

eventually some smart engineers will find a more efficient way to mine the coin in the form of a new custom ASIC.

there will never be something that will be only mined by GPU forever. and so GPU manufacturers that usually plan their businesses 2 years prior to release cannot simply throw advertising out over a 6 month period. thinking it will make them profit.

especially if that same new altcoin doesnt have the same vast usefulness as what bitcoin has.
at very very best they could make a coin that produces 100,000,000 coins every 10 minutes and hope with all their fingers crossed that they would get 1 satoshi per gpucoin.

to build up a proper economy of useful retailers that will accept GPU altcoin as a payment method will go far beyond the timescale of gpu hardwares usefulness, because ASICS would have taken over. and it becomes no longer a GPU affiliated coin because no one will anylonger be buying GPU's to mine it.

And why would't they simply promote  a new gpu coin.

My post above simply points out   a lot of major companies that would benefit with a strong GPU coin.

The market cap of ETH coin as I type is about 1billion  usd
The market cap of BTC coin as I type is about 7 billion usd

My source for those numbers:

https://coinmarketcap.com/

so if the companies I listed above  purchase eth coins to prop price to current level of .0282 btc  it does not cost them a lot of money and it creates a churning

Effect that benefits quite a few companies and people and ETH coin and BTC coin.

This is pretty evident in my illustration.

With BTC locked up tight by asic builders  they need a reason for btc to be.   Think of it as a snake eating itself via its tail.  The closed loop that asic buliders are creating is not too good for buisness.

The outside monies of Intel, AMD, Nvidia pushing any solid gpu coin  will serve to help BTC.

and intel AMD Nvidia  all would benefit from sales of gear. 

ETH PoW mining is only temporary. They'll be switching to PoS in ~1 year(?). So don't expect any GPU manufacturers and alike to get involved in any way.

 AMD Nvidia and Intel  all benefit directly from GPU mining while they don't benefit from asic mining.

I can argue  a mutually benefit deal between   any solid gpu coin and btc on these grounds.


Intel, Amd , Nvidia  simply prop up any gpu coin via coin purchases of that particular coin. It is simply a way to advertise  gpus and cpus to use for mining.

So I mine an eth coin with price boasted by one of the companies above.   I make a profit I sell to cash or btc.

So btc has demand created by my purchase of it with an eth coin.

So who gains directly
1 ) me
2 ) intel                            why I purchased a chip
3 ) Amd                             why I purchased a card
4 ) Gigabyte                       why I purchased  a board
5 ) silverstone                     why I purchased a titanium psu
6 ) windows                         why I purchased an os
7 ) ebay                               why I purchased some of it from them
8 ) amazon                           why I purchased some of it from them
9 ) newegg                           why I purchased some of it from them
10) corsair                            why I purchased some of it from them
 
11) electric power companies  why power sales

so the  nine companies above should all buy some Eth coin with cash as advertisement. I left out power companies.

been really thinking about this economically.

Now the indirect people that benefit from eth coins

1) crypto coin exchanges     why commissions on eth to whatever
2) asic builders of btc gear  why you will still need btc to exchange to it so mining btc is needed
3) coinbase                        why you will still need fiat.
4) hosting companies          why it is hard to pay and keep up asic gear power costs



Now  I  list if you are all   asic  say btc


direct benefit.

1) me               if I profit
2) asic builders
3) psu sellers and builders
4) hosting companies


indirect people that benefit from btc

1) crypto coin exhanges
2) coinbase other fiat companies


So my point is  Eth coin can get a ton of help in coin price from major companies as advertising to buy gear to mine eth coin or for that matter any solid gpu coin.

  I can turn profit on Eth coin while paying 17 cents a kwatt. 

  Mining Eth coin is the cheapest way for me to buy BTC  therein lies the question can ETH coin save BTC?
 Would Eth coin be a support to small miners all over the world in their quest to get  Fiat and BTC?

Anyone can run a small quiet pc mining Eth coin   even if their power cost is 20 cents.