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Title: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: #Darren on July 20, 2013, 01:27:28 PM I mean apart from jumping in fast on some new startup coins before the ASICS get at them, is there any point GPU mining at all? Primecoin has given CPU a chance but that is rather unique atm.
And what future does crypto have anyway if everything is dominated by ASICS, I mean won't it ultimately devalue everything, including bitcoin? Isn't it really a poison to the future of cyrpto? Title: Re: Have ASICS really ruined all GPU mining? Post by: ElectricMucus on July 20, 2013, 01:30:48 PM Mining will exist till somebody figures out of how to use useful computational work to secure transactions.
Once that is done bitcoin and every other project based on it is useless. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: Carra23 on July 20, 2013, 01:31:34 PM A bit too dramatic. Just wait and see.
Where did you get a Scrypt ASIC miner btw? Mining will exist till somebody figures out of how to use useful computational work to secure transactions. Once that is done bitcoin and every other project based on it is useless. XPM seems to be the first on that path. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: mustyoshi on July 20, 2013, 01:32:38 PM ASICs ensure the survival of cryptocoins.
The amount of energy that goes into the network has to be minimized for it to be viable. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: ElectricMucus on July 20, 2013, 01:33:40 PM Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: markm on July 20, 2013, 01:34:45 PM Maybe proof of stake and/or some kind of consensus akin to what Ripple uses will turn out to be as secure and less energy-consuming than proof of work.
-MarkM- Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: #Darren on July 20, 2013, 01:35:13 PM Where did you get a Scrypt ASIC miner btw? I don't have a ASIC miner. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: AgentME on July 20, 2013, 01:37:14 PM Why would ASICs devalue anything? They just make certain kinds of proof-of-work more power efficient.
Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: Hydroponica on July 20, 2013, 01:39:17 PM Where did you get a Scrypt ASIC miner btw? I don't have a ASIC miner. I don't think he realizes that ASIC's only work on Sha coins, and not Scrypt Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: tonyback on July 20, 2013, 01:41:44 PM Where did you get a Scrypt ASIC miner btw? I don't have a ASIC miner. I don't think he realizes that ASIC's only work on Sha coins, and not Scrypt only BTC Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: Hydroponica on July 20, 2013, 01:44:09 PM Where did you get a Scrypt ASIC miner btw? I don't have a ASIC miner. I don't think he realizes that ASIC's only work on Sha coins, and not Scrypt only BTC No, any SHA256 coin, actually. Bitcoin, PPCoin, Terracoin, Freicoin, Namecoin, IXCoin, DevCoin Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: ethought on July 20, 2013, 02:59:39 PM ASICs taking over Bitcoin might be a blessing for scrypt based coins.
When the masses decide it is finally uneconomical to mine bitcoin on GPUs there will be many miners looking for the next best thing -> altcoins. More hash on altcoins means more secure blockchains.. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: TheSwede75 on July 20, 2013, 03:09:58 PM I mean apart from jumping in fast on some new startup coins before the ASICS get at them, is there any point GPU mining at all? Primecoin has given CPU a chance but that is rather unique atm. And what future does crypto have anyway if everything is dominated by ASICS, I mean won't it ultimately devalue everything, including bitcoin? Isn't it really a poison to the future of cyrpto? I wish people were smart enough to not ask this question. Let me re-word it for you so you can see how stupid you look asking it: "Did GPU mining ruin all CPU mining and damage the future of crypto?" ASIC is not some damn 'black magic', its just a technological shift just as GPU before it, and FPGA after GPU.. And yes, there will be 1st (Avalon), 2nd, 3rd etc. generation ASIC and I expect the same stupid question in between every tech shift. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: markm on July 20, 2013, 03:12:44 PM Is there even any point in accounting anymore now that people can write with ink on papyrus instead of carving marks into stone or making little clay pouches with miniatures in them?
-MarkM- Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: paraipan on July 20, 2013, 03:13:57 PM I mean apart from jumping in fast on some new startup coins before the ASICS get at them, is there any point GPU mining at all? Primecoin has given CPU a chance but that is rather unique atm. And what future does crypto have anyway if everything is dominated by ASICS, I mean won't it ultimately devalue everything, including bitcoin? Isn't it really a poison to the future of cyrpto? NO, get a clue about economics and then come back and comment. Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: TheSwede75 on July 20, 2013, 03:23:14 PM Also: GPU mining is JUST a damn technology. NOTHING about crypto implies that it should 'keep being profitable'. GPUs were not created for mining and coins should NOT be 'targeted' for a certain technology. The only people that think otherwise are just kids that are now stuck with close to worthless GPU-spac-heaters and somehow thinks that crypto 'owes them' profit somehow.
Title: Re: Have ASICS really ruined all GPU mining? And damaged the future of crypto? Post by: ethought on July 20, 2013, 03:42:36 PM NOTHING about crypto implies that it should 'keep being profitable'. How so, who is going to mine if it is not profitable - ASIC or GPU alike? |