GPU Mining Is Dead? - Ethereum ASICs Coming Soon!

Ethereum mining has been the hot crypto of choice for many mining operations because of it's great price, relatively simple mining setup, and good network behind it. But now ASICs could be dropping within the next 3 months & totally obliterate everything that miners have been working towards. What do you all think tho?

Thanks to MSI South Africa for sending the GT73VR with me to the US.

For PC parts:

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Thank to Tancrid "Tank" Muller for writing the video!
Thanks to Reece Hill for filming the video!
Thank to Rikus Strauss for editing the video!
Executive Producer: JC Randall

[Dejan_Unlimited]

11/21/21 GPU mining is going stronger, stronger, STRONGER ...

[nucleardrifting]

The one time company greed is actually, in a way, pro consumerism

[mikehudgins]

Profits are still better than when I first started in the first few months of eth, but back then I could see it going a lot higher. It seemed obvious that ethereum would go up when it was at $10-$15 for the longest time. Now it's hard for anyone to figure out if the current price is inflated or low compared to what it will be say 5 or 10 years from now (or even next week tbh). I believe in the mission of ethereum and the decentralized applications that can be built on the blockchain. One of the videos that REALLY sold me on believing in the power of crypto was the one by Cold Fusion about the central banking system. Not to be a tin foil hat guy, but it really is corrupt.

[deagt]

Just wait to drop prices on VGA cards to change my GTX 580. ;-)

[GuilleGhemi]

Congratulations for 100k, you deserve it!

[browningcal]

Having a blast mining RVN lately. Low difficulty and good revenue per day. It's been a fantastic alternate for mining while ETH is in toilet. RVN trades on Nanex exchange that trades major crosses so you can convert RVN to BTC, ETH and LTC now. My 200 Mh/s ETH rig ($6.72 per day) is pulling 20 RVN every 3 hours or $8 per day with no change to my clocks or anything. The x16 algo uses 10% less power with the same settings. Most fun I've had in weeks.

[waseemh]

Image if they added RGB to ASIC miners. They'll become so much more powerful 😱😱😱😱😱😱😱

[Anttsony]

GPU mining is very much alive. Ethereum mining was planning on going PoS anyway. The Casper protocol will soon come into effect with the hybrid PoS PoW system. Not sure how PoS will do considering it starts at 1, 500 Ethereum I hear, which is over a million USD and climbing.

In any case if a GPU miner wants Ether, we can just get it the same way we do for BTC or anything else we don't mine.

Also, Monero already gave Bitmain the brush, and we have other options in mining and still get our Ethereum.

GPU'S are indeed in stock, thanks to the big crypto market sale that just passed. A lot of miners simply bought crypto as a better investment while our rigs are still chugging away. My local retail is now offering to sell us as many GPU as we want as sales are slow. Will GPU prices go down ? Not sure, but if it did I would inhale a dozen 1080ti with a side of RX on a H110 BTC+ and get some more Ethereum before Moving onto zcash or Monero, some UBIQ or maybe EthereumC. GPU mining won't go away anytime soon.

However. If it really does get Then as miners we'll have 2 choices. Leave mining, or get the ASIC and enjoy lower operating costs at speeds that'll make us giddy, then mining difficulty turns into Bitcoin levels.

[GrendalTheBeasty]

I strongly suspect every major alt coin has an ASIC now. Difficulty and profitability are abysmal across the board and getting worse. Nobody is building new mining rigs though, for that very reason. Something is clearly going on behind the scenes and I'm betting it's ASICs not being offered yet.

[foxpup]

We haven't seen any credible specs on any ethereum "ASIC" miner yet. So far we know nothing. Who knows, maybe what they call an "ASIC" may actually be a black loaf of bread sized box with fans on both ends and GPUs within it. Stranger things have happened.

[gypsypath]

BTW, sleep more. We'll still be here. 😄 You look beat!

[russell]

AMD and NVIDIA lied about percentage because they feared the downturn in crypto, I called shenanigans when I saw the earnings report.

[mahirfredericks]

could be true that bitmain is mining with their asics just look at the network hashrate on ETH it's doubled in the past 2 moths

[gypsypath]

I hope ETH forks like XMR is doing. Also I heard yesterday that 1 ETH ASIC is only going to have somewhere around 300 MH/s (if I remember correctly) and would still have estimated power costs over $800/year at $0.10/kWh. That video was saying that returns would only be about 2x GPU returns.

[jjgroezinger]

This ASIC was also supposed to be out for awhile now but Bitmain memory supply has crippled them. (shocking, just like every other tech company...) I've also read that they only do around 300 MH at about 800 watts, which "only" means they are 2x more efficient of a 6 card rig.

[gretacs]

Going to guess that many of the alt coins that are Etherum based will fork sometime in the last half of this year, and be forced to fork everytime a new asic comes out. Going to be interesting to watch what happens to hash rates on the coins that do it sooner rather than later. Have a feeling many people will buy the asics and get screwed when coins start forking very quickly.

[ttass-md]

Major coins should fork and change the algo regularly, to never let ASICs to develop and mine in the background.

[Mordiaken]

The statistics are weird if only 10-20% of profits are from crypto currencies why were there no cards anywhere, and if you did find them they were 2x the price? to me it seems like these companies are going to use nintendo's famine strategy to push the prices of their cards up.

[XtremeConditions]

I actually really hope that the team expedites their change to Proof of Stake before these are even officially announced. But it does make me wonder... Will any algorithm end up being TRULY Asic-proof? First it was Scrypt, then Scrypt-N, both were broken. Then X11/X13, then Cryptonite, and now Ethash. I was thinking something like AES-NI would be a go-to for CPU-only mining, but who knows if that's safe...

[CatsMeowPaw]

Ethereum is around 75% off its bubble highs in late 2017. These ASICs are likely to have been in development for at least six months, probably more, so the demand for them is likely to be tepid compared to the balls all-in days of late 2017. Good luck, Bitmain.