ASIC Miners DESTROY GPU Mining?

[Airbrushkid]

 

[mnewxcv]

until it's delivered to your door. Then it is a paperweight.

 

[cdabc123]

Not watching the video as I can only take so much bs in one day but to put it simple most gpu only coins need a large amount of fast memory the asic providers cannot obtain at a reasonable price. Monero and coins that work well on CPUs as well require a medium amount of stupid fast high bandwidth memory. Think hbm or CPU cache. Asics definitely can't get hbm and I don't believe they can print enough cache on a chip for it to be viable

 

[Master_shake_]

I remember butterfly labs.

Some people may not.

 

[mkrohn]

if some of these exist they will be all used up with extensive testing before being released to the suckers. The worlds largest miner also makes asics.

 

[Archaea]

Baikal N miners are being released for cryptonite algorithm.

Monero, ETN, Cryptonight. etc.

Hash speeds appear to be 20kh/s using only 60watts. That’s a whole pile of Vegas (10-15) worth of hashing power at 60 watts total. (The Vegas would be using 2,000 watts plus)

Very profitable right now. And YES that will kill GPU mining on coins that use this algorithm for certain. = No more profit for threadripper owners or on CPU mining.

https://t.co/yCZM27UIMs

 

[Archaea]

Not watching the video as I can only take so much bs in one day but to put it simple most gpu only coins need a large amount of fast memory the asic providers cannot obtain at a reasonable price. Monero and coins that work well on CPUs as well require a medium amount of stupid fast high bandwidth memory. Think hbm or CPU cache. Asics definitely can't get hbm and I don't believe they can print enough cache on a chip for it to be viable

You need to watch the vid

It seems most people in this thread commented without watching the vid. This is a darn big paradigm shift for crypto. It means no more CPU mining will be profitable.

 

[cdabc123]

You need to watch the vid

It seems most people in this thread commented without watching the vid. This is a darn big paradigm shift for crypto. It means no more CPU mining will be profitable.

Maybe later. And price effects everything. I got 20kh on etn for 3k so obviously a asic costing more wouldn't help much. And if course it really doesn't matter unless the thing hits the public before difficulty is jacked

 

[Archaea]

Maybe later. And price effects everything. I got 20kh on etn for 3k so obviously a asic costing more wouldn't help much. And if course it really doesn't matter unless the thing hits the public before difficulty is jacked

What GPUs do you have that are doing 20khs for $3k? Last I knew, even 10 Vega 64 only do combined about 20khs if you jump through a ton of configuration hoops, and they certainly aren’t doing it at 60watts combined total.

 

[cdabc123]

What GPUs do you have that are doing 20khs for $3k? Last I knew, even 10 Vega 64 only do combined about 20khs if you jump through a ton of configuration hoops, and they certainly aren’t doing it at 60watts combined total.

Not each and they are the x200 phis and no but power is cheap

 

[Verge]

What GPUs do you have that are doing 20khs for $3k? Last I knew, even 10 Vega 64 only do combined about 20khs if you jump through a ton of configuration hoops, and they certainly aren’t doing it at 60watts combined total.

10 56s will do it, and at 299 price. Not sure how he got em 10 of them at launch, but that was the MSRP right?

 

[Verge]

Baikal N miners are being released for cryptonite algorithm.

Monero, ETN, Cryptonight. etc.

Hash speeds appear to be 20kh/s using only 60watts. That’s a whole pile of Vegas (10-15) worth of hashing power at 60 watts total. (The Vegas would be using 2,000 watts plus)

Very profitable right now. And YES that will kill GPU mining on coins that use this algorithm for certain. = No more profit for threadripper owners or on CPU mining.

https://t.co/yCZM27UIMs

Already has, speculation the difficulty spikes everyone saw in january was these guys mining before going public... knowing everyone would probably fork.

These won't work for monero by the time you get one FYI.

 

[Archaea]

10 56s will do it, and at 299 price. Not sure how he got em 10 of them at launch, but that was the MSRP right?

No $300 was not Vega 56 MSRP.

 

[Brian_B]

You need to watch the vid

It seems most people in this thread commented without watching the vid. This is a darn big paradigm shift for crypto. It means no more CPU mining will be profitable.

And yet we will still see malware miners, browser hacks, and "premium enabled" apps that allow for mining. When people can get money for nothing, it's not their hardware or electricity... they don't care how efficient it is. Even fractions of a penny add up when you can get a few thousand people to do it.

 

[cdabc123]

And yet we will still see malware miners, browser hacks, and "premium enabled" apps that allow for mining. When people can get money for nothing, it's not their hardware or electricity... they don't care how efficient it is. Even fractions of a penny add up when you can get a few thousand people to do it.

Meh if it's not close to profitable people won't care enough to make or distribute in in the first place. How much malware do you see mining btc. Not very much as it doesn't earn anything

 

[Brian_B]

Meh if it's not close to profitable people won't care enough to make or distribute in in the first place. How much malware do you see mining btc. Not very much as it doesn't earn anything

Didn't say anything about btc - just mining in general. They don't mine btc because other things earn more money per unit time.

When the "profit" is using someone else's hardware, someone else's electricity, and all you have to do to get access to that is click send on a mass email with a phishing link to an email distribution list, that is already populated for you from some Russian black site - it's hard to say that's not a profitable action.

In fact, that may end up being my retirement plan.

 

[cdabc123]

Didn't say anything about btc - just mining in general. They don't mine btc because other things earn more money per unit time.

When the "profit" is using someone else's hardware, someone else's electricity, and all you have to do to get access to that is click send on a mass email with a phishing link to an email distribution list, that is already populated for you from some Russian black site - it's hard to say that's not a profitable action.

In fact, that may end up being my retirement plan.

notice how thease bugs only really poped up when monero became very profitable. its not worth the effert to setup for few pennies

 

[mkrohn]

notice how thease bugs only really poped up when monero became very profitable. its not worth the effert to setup for few pennies

A few pennies times 100 million is still a few million dollars for minimal effort.

 

[dook43]

No $300 was not Vega 56 MSRP.

$500. You could only get cards at this price in August and November

 

[Parja]

$500. You could only get cards at this price in August and November

Actually, $400 for the V56. Bought one at that price on Nov. 9...and then sold it for $760 at the end of December.

 

[Icy006]

If an ASIC messes with a value proposition, new algorithms will be introduced to fill-in, and coins will fork to compensate. Might be interesting once quantum computers become mainstream, though!

 

[cdabc123]

If an ASIC messes with a value proposition, new algorithms will be introduced to fill-in, and coins will fork to compensate. Might be interesting once quantum computers become mainstream, though!

most asic resistant coins (ethereum and more) are memory dependent so quantum computers souldnt be any better then a gpu as far as value

 

[mkrohn]

Nov 7 newegg ebay had the vega 64 for $465.99 and I stacked ebay bucks and ebays ended up with it for like $420 in what I thought was a steal. Both of them I ordered have been RMA'd. I haven't seen one of them in over 2 months now. Powercolor is the absolute worst. It made its moneys worth so its not the end of the world but I knew from the 290x days to avoid powercolor but the $80+ savings made me bite.

 

[Archaea]

Nov 7 newegg ebay had the vega 64 for $465.99 and I stacked ebay bucks and ebays ended up with it for like $420 in what I thought was a steal. Both of them I ordered have been RMA'd. I haven't seen one of them in over 2 months now. Powercolor is the absolute worst. It made its moneys worth so its not the end of the world but I knew from the 290x days to avoid powercolor but the $80+ savings made me bite.

I agree with you about powercolor. Their packaging alone should make any reasonable person question their quality. The power color cards I received had no foam in the packaging - only cardboard, and thin at that. My RMA took nearly two months too.

I won't buy any more powercolor products for some time.

My RMA was originally denied because they said I entered the wrong serial number in my original RMA. But I only found that out because I called in over a month later and asked my RMA status - they hadn't ever sent me a notice they had denied it. I was verbally told my serial number was incorrect so my RMA was denied.

I took pictures of everything I sent, so I sent him a picture of the RMA paper work submitted, and a picture of the card and confronted with my evidence, the guy admitted powercolor incorrectly denied my RMA and the guy said he would reprocess the RMA. They did so and I did receive my RMA'ed card replacement - but two hard strikes against them now. I'm not interested in a third.

 

[Derfnofred]

most asic resistant coins (ethereum and more) are memory dependent so quantum computers souldnt be any better then a gpu as far as value

Not to mention IF/when we ever see quantum-based computation go large scale, the entire landscape of cryptocurrency will look totally different.

 

[Icy006]

most asic resistant coins (ethereum and more) are memory dependent so quantum computers souldnt be any better then a gpu as far as value

Oh it's not the mining algorithm...quantum will allow easy cracking of current public key crypto implementations. Ought to be interesting.

 

[Nexillus]

And they become a paperweight when they change the algo

 

[cdabc123]

And they become a paperweight when they change the algo

There are alot of cryptos that use the same algo. Not all are as active developer wise as monero and probably wouldn't switch