Bitcoin Forum

ASIC Miners are taking over and very fast.

According BlockChain.info its taking over around 1% per day of Hashrate Distribution and its increasing.

Its currently accounts of 19% of all Hashrate Distribution.
4 Days ago it was 16%.

An estimation of hashrate distribution amongst the largest mining pools
https://lh4.googleusercontent.com/-PotgZqjV-q8/UftDQw_Z_0I/AAAAAAAAARU/FDoX9aRNdDs/w788-h646-no/hashrate.png
http://blockchain.info/pools

Looks like you missed the sticky about blockchain.info
here is a more accurate list http://blockorigin.pfoe.be/top.php
ASIC is taking over fast, but asicminer is just one company manufacturing and mining on ASIC hardware, they were added to the "Pool list" after they started solo mining.

you are correct though for Bitcoin miners without very cheap or free power  GPU is DEAD

That I didn't know.  So they make the device use it for them self and most likely sell the use one as new.  Monopoly?

No way to join their pool, ??? LoL

I guess you need to look around the forums more :)
they are not a pool
they are a company that sold shares to fund the development and manufacture of ASIC hardware, once they produced hardware they pay their shareholders a dividend on mining earnings (this was always their business plan), then they started producing some hardware for sale - more profits for shareholders.
you cannot join the non-pool, but you can buy shares in the company
Hope thats a help

Not a Monopoly. Just one company. You are confusing ASIC devices with this company. There are currently 3 companies actively selling devices: BFL, Avalon and ASICminer. They all sell ASIC devices.

Unless you just don't know what the word monopoly means. In which case, you are correct in what they do. They sold shares in mid-2012 to fund the development of their devices (as said above).

Ever since I first started researching crypto currency back in May, I laughed at the folly of those who laid out big bucks for ASICs that weren't shipped for a year.  I am now unhappy to see that the ASICS are finally coming out, and fast, it seems.  Thereby ruining the BTC difficulty for anyone not using ASICs.

But the people who are laughing all the way to the back are the ASIC manufacturers, who are mining with them FIRST, then after a few months they take their profits from each unit and sell the unit to you, ostensibly as a new one.

I am also happy to see that ASICs are useless for anything but BitCoin, so they can have BitCoin.  I have all my hashing power on DigitalCoin right now, and even a small rise in price will be very profitable for me.  I am considering mining LiteCoin too.

The ASIC world is imploding on itself.  The more ASICs out there, the higher the difficulty, the less profit each unit makes, so people buy more ASICs, which raises the difficulty, so they again get less profit, etc.....

A self defeating spiral downwards in profitability.

I am pretty sure people buy more ASICs when it is highly profitable, and reduce buying when it gets less profitable...

The GPU world is imploding on itself.  The more GPUs out there, the higher the difficulty, the less profit each unit makes, so people buy more GPUs, which raises the difficulty, so they again get less profit, etc.....


The CPU world is imploding on itself.  The more CPUs out there, the higher the difficulty, the less profit each unit makes, so people buy more CPUs, which raises the difficulty, so they again get less profit, etc.....

All I can say is I'm glad I kept my ASIC shares, for anyone not into mining or just can't afford an avalon. I would recommend ASIC shares, they will treat you well I assure you. Always some floating around on here, try catch some for a good price.

Just powered down my last GPU miners after taking delivery of another bunch of AM Erupter USB's.

Feels strange not hearing loud fans anymore... The house is eerily quiet now.

I'm sorry in poor English

Have a serious drawback one an ASIC. I may not only operate on its own
Game can also be the GPU. Should I rewritten on a different circuit also in the FPGA.

Xian, PM me, I will make you a serious offer for your 7970's.

All e more reason to mine alternative coin

That is correct, GPU mining is dead unless you have access to cheap power... but all in all I would say yes GPU mining is not affective for Bitcoin mining.  Especially when you look at the cost of entry into the GPU mining field.  Maybe for some of the other cryptos though... I mean looking at a difficulty of over 50M today, and climbing at a steady rate due to the multiple entries of ASIC based platform's.

GPU mining is only dead for Bitcoins. There are other coins out there folks.  ;D

True, but other coin are useless.

Bitcoin became the GOLD of all the other digital currency because companies began accepting it as a valid Currency.

Unless those coins jump high and price,  AND you could exchange it for REAL CASH, then it will be worth something.

GPU may be dead on LTC mining sooner.

gpu mining on ltc is already crap

i think people must be ignoring the depreciation in their equipment & valuing their time at $0/hr

Yep, GPU mining is dead, don't even consider it.

The farm I have is just to donate my hash rate to the network, I don't make any profit. If you're mining now with GPUs, I will be kind and pay you $100 of each 7950 and $150 for each 7970. Otherwise you will be ruined.

I do this because I care, not for profit.

I mined back in the CPU days, solo mined a few blocks of 200btc each.  Once GPU mining started, i dropped off the radar for a few years and then got a very early buy with BFL.  after waiting nearly a year i got my 2 jalapenos (the 7.5GH upgrades ones) and made all of the money back on those in like 2 weeks.  Since then it's been all profit and even now I would not shut them down. The electricity use is tiny, i have them run by a low power laptop, and it gives me more btc to spend.

I also missed it a lot, those times, when I can just use my computer, go to one of the online mining web site and earn some Satoshis, now it is totally impossible.

Does it look like I own an ASIC? :(

CPU's and GPU's are only profitable in alts now.
Time to buy an ASIC, but be careful.

I have to agree GPU mining is pretty much dead.  At least for me.   I've not got much mind you, about 1.5 KHS but that gets me something useless like 2 LTC coins a day.   I pretty much use the coins for betting now :)

I am selling it as a gaming graphic card. Come on! It's time to enjoy life!!
 LOL

In what universe there were blocks of 200btc each?

I wonder what is the most recently updated graph?

Presumably some other random $bullshitcoin

So anyone selling their GPU for .5 BTC Each?

LOL, you guys don't know anything about bitcoin, do you?
At pre-determined intervals the number of BTC returned in a mined block halves.
Right now it's 25, later it'll be 12.50, well in the past it was 50, 100, 200 (i dont know, wasn't around to see if it was ever higher than that).

So before you call bullshit on me, check your privilege and your dubs.

Haha that is one of the funniest things posted in a long time about me, thanks.

lets hope this mining pays off 1 day

It was only ever 50BTC, from its inception in January 2009 to the first (and so far only) block halving in December 2012 (or November? can't recall). It's one thing to be a noob who makes a reasonable but wrong extrapolation back to 200 BTC, but you are saying you actually MINED these blocks with your CPU. How can you not remember how many BTC were in the blocks you mined?

I bet you just chucked them into a /dev/null eventually, you bastard.

And I expect ckolivas knows a fair bit about bitcoin, being the developer of cgminer, probably the most used mining software.

 *giggles*

And good riddance!

No more botnet mining. Leave that for litecoin - the ultimate botnet currency.

I'm laughing so hard right now, I have tears in my eyes.

remember when the block reward was 1000 btc? :D

Sorry, I don't understand. Are you saying that litecoin is susceptible to botnets?

If *(when?)* all those GPU's that made the bitcoin network pretty much botnet proof get switched over to litecoin, then botnets won't be a problem - at least not for litecoin.

Actually, at over $2 each, they look pretty strong. Remember when bitcoin was $2? and the agonizing wait where it sat in the sub 10 range?

I'm not sure that there is a place for digital silver in a digital gold world, but litecoin does offer a decently strong hashrate to protect itself from attack. Litecoin also shares almost identical properties to bitcoin, as far as it's use as a form of money. non-counterfeitability (http://glossary.econguru.com/economic-term/non-counterfeitability), durability, divisibility, and transportablity.

I predict *(hope?)* we will see some of the guys who are doing the aftermarket ASIC boards start to look at scrypt fpga's, (which might be pricy, but they've got to be able to get better efficiency than a video card.)

Not sure if it could translate to asic, I would think you'd need a massive amount of extremely quick memory to make that work, but I don't know much about scrypt.

You better check your facts ckolivas as this guy knows his stuff.... :D