ASIC mining Ethereum!
Past few years Nvidia stock has soared but as of today it took a decent size hit. Business analysts and news outlets are saying the major pullback is due to halting their advancement in AI technology of driveless vehicles. I am not trying to play down on future AI technology but most crypto enthusiats would equate to gpu mining when they hear Nvidia. Crypto investors care more about hash rates per watt than how much a chip can do with AI.
The reality is what this article is saying: https://www.marketwatch.com/story/new-mining-chip-could-erode-amd-nvidia-graphics-chip-sales-2018-03-27
Summarizing there is rumors bitmain will roll out an ASIC miner for Ethereum! This is likely a possibility considering they were able to use ASIC to mine XMR. My past post.
On whattomine.com Ethereum has mostly stayed at the top as most profitable coin to mine with gpu so it does not take a genius to imagine if in fact ASIC mining Ethereum indeed is true then gpus are a thing of the past. Though situation for the video graphics makers, hey maybe they come up with their own coin that only can be mined through their own video cards and have the coin be back by company evaluation. Just a thought ;)
There are a ton of news regarding this rumor Bitmain F3 unit that mines Ethereum, but to have business news articles post about it makes me believe this has come to pass. Therefore if it is true it will be good bye to Nvidia or AMD stock prices. Hey they are spinning it where its dragging the entire cryptocurrency market down because of ASIC mining Ethereum.
Bottom line people will advance technology which in turn make tasks done today easier tomorrow. With all the limitations and restrictions coin developers are doing to try to stop this ASIC mining I personally think will be in vain. There is no stopping it but rather prolonging the inevitable. Do not get me wrong if I had 100 gpus farm I sure as hell would be running it and mining crypto. But logically thinking what on earth am I doing with just powering some computer chips to verify/confirm blockchain transactions? What good comes out of it? The reward of a virtual 010101 combination of some sort.
Thanks for reading.
Date of Post: 3/27/2018
Past Posts:
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I do not think the ethereum developer team will stay calm. I believe that they will make the necessary changes so that ETH continues to be mined with GPU, knowing also that the vast majority of ICOs and tokens are built on their platform. If an Asic for ETH goes on the market, I do not think it lasts long, although without a doubt the sad thing will be that it will affect the market.
In the same way, Eth will soon abandon the mining to go to proof of stake.
I know what you mean and we are watching this unfold with XMR. ETH definitely seems ahead of the curve because road map has it plan to be a POS coin in the future. Vitalik Buterin is spot on with cryptocurrency.
I don't think Nvidia stock price has much to worry about, crypto is a tiny minority thing that nearly no-one does (percentage population). We are constantly basked in it all the time so we tend to give it more weight than what's due.
The vast majority of GPU are owned and used by gamers. Myself, I have a GPU render farm for 3D art. Most people use GPU for rendering video production.
Out of every single person I know, none of them even know what a crypto currency is let alone mine it. The best answer i've ever got was 'it's something people use on the deep web to buy drugs' lol.
You make some very good points. I have a similar situation. I do not own any GPU but at work my workstation requires a GPU for building rendering. Every couple of years we get a new upgrade, and specifically its a GPU.
There are signs out there that still makes me believe that although on surface it does not look like crypto mining is known by many there are a few hoarding the GPUs specifically for that.
http://www.zdnet.com/article/cryptocurrency-miners-bought-3-million-gpus-in-2017/
We we look at electricity consumption just for mining bitcoin it leads me to believe that a lot of mining is happening.
https://powercompare.co.uk/bitcoin/
We may not have many people who are aware of mining but the few there do mine are basically amassing most of the resources to do so. I am not sure if it is a good or bad thing but my take is there is just so much mining happening. Thanks.
I'm quite sure it will increase, especially when graphics card manufacturers are making cards specifically aimed at mining.
Do you use your work computer for mining ? :-) I used to work in a company with 4000+ employees all on PC, and I'm sure the IT guys had some mining operation going in the background lol.
I do think that if ASIC miners can put pressure on the GPU market, you could see the GPU manufacturers take a sales hit. They are allowed now to charge extreme prices for GPU's and they are now designing GPU's that are specifically designed to mine crypto so we know they acknowledge the impact of mining on their bottom line. They are certainly concerned with rise of the big ASIC boxes and their availability to the regular miner. The GPU allowed the common miner to compete with the big operations, not the ASIC is moving in on the GPU's foot hold on the home miner market. Also, GPU mining created a greater turnover of cards, mining destroys GPU's and requires miners to purchase cards on a regular basis. Mining is far harder on the card than video rendering or gaming. This turns into a regular and predictable revenue stream.
kinda sucks for people who want GPUs in the future for non-mining reasons, probably have to pay a huge premium.
F***ing crypto, I told you it was bad news lolol
It is the fall of Western Society!!!
I prefer to call it 'the crypocalypse' lol
mine Smartcash !
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