Bitcoin Forum

well now since the Scrypt ASICs are starting to replace GPU mining rigs what do you guys think will happen to us gpu miners?

I think that Vertcoin will go up in value soon and will be the new litecoin for us GPU miners and then we'll have some usual clones of vertcoin coming up everyday.

What do you guys think. Post your opinions for all of us to read.

Vertcoin will be never as popular as LTC.

LTC have similar popularity to BTC...

Vertcoin ... I think 90% of this forum members never had any Vert coins ...

What is vertcoin ?

indeed this is what I mean :)
Vertcoin :) I heard about it somewhere by an incident :P

how this related to  making other coin  value up  ???

That's something I don't understand. When scrypt Asics will be bigger, GPU mining will be dead for Scrypt, so everyone will switch to Vertcoin. But how will that make the value go up? That won't make new buyers magically appear.

Perhaps they will make Litecoin's value go down, since people will dissaprouve of the centralization of mining that this brings, and perhaps they will switch to vertcoin for that.

when people start mining vertcoin it will become a lot more popular and that will make the value go up.

vertcoin is going to be merged mine soon and community is still active . Price may go up in future with all the active developments and many gpu miners shifting to vertcoin.

Try give-me-coins ..you can mine vertcoin along with MON and PLX.
In my opinion vertcoin is giving same profit as of scrypt now but some time later it can be next LTC as Gpu miner's rushing to it.

Meanwhile MON and PLX can also have some surge if upvoted in cryptsy..
http://www.reddit.com/r/CoinedUp/comments/24yk8a/please_add_mon_vtc_team_release_mergemined_on_vtc/

Exactly..go vert go.!

Vertcoin is almost dead now itself. I think GPU mining is done.

well the x11 coins are doing pretty good and so is groestl. I've been mining groestl for the past few days and the temps have stayed super cool.

If someone starts GPU mining NOW, will they ever break-even?

Provided,
scrypt-N ASICs will be coming in Q3-Q4.
X11 ASICs in 2015 (just a speculation - correct me if I am wrong)

not unless the value of bitcoin rises over 1k.

70% of new altcoins launch in the market is X11 coins. Future of altcoins should be X11 not scrypt.So gpu will not be obsolete in near future.

Use "ipoMiner" a altcoin multipool, if one is not sure about which coin to choose for mining in scrypt or x11 algo

yeah but the rewards on x11 are not as high as that on scrypt.
I guess the reward is proportional to the power consumption.

There will be x11 ASICS soon.

Not so soon. We are yet to see the profitability and ROI on  scrypt Asics. Barring KNC miner Titan and a few, which are very expensive no asic will get an ROI and this will discourage other Asic manufacturers to venture into X11 or other algo.Even Titan has not been yet sold out completely.

And also, it will be not be profitable for Asic manufacturers to have a dedicated asic  for each and every algo .

Since last month i am mining X11 coins and getting more profit than scrypt on 40% less electricity consumption.Better approach would be to select a new promising coin, mine and stack it and wait for the opportunity to sell it when the prices are higher on exchanges.

If you observe the current trend of rigs being leased for cloud hashing for x11 coins, more rigs are being hired on better price than scrypt rigs.

Its circular. If any algo becomes big enough for the big GPU farms to switch, ASICS will come out.

I think mining will die a natural death anyway.

Even if there would be x11 algo ASICS, X13 algo coins are already being launched for GPU specific mining. GPU will never die and should co-exist with Asics amicably.

^^ exactly.
People will always find new algos for GPUs

The problem is, you never know initially which coins are going to succeed from X11, X13 or any algo XYZ. That means GPU's first mover advantage is highly questioned. Also the power ratings spil oil to the possible failures. GPU mining is really high risk compared to ASICs because of this. Asics come out only when some companies/people are almost sure that some coins using a certain algo is gonna be there prime time.

We all know, what ASICs have done to Bitcoin.Difficulty is sky rocketing every 12 to 15 days and there is a fierce arms race to grab those tera hash machines most of which will never produce ROI. Those ASICs have even defeated the true purpose of Bitcoin i.e. a meant to be decentralized currency now has been centered around a few affluents who could afford those expensive ASICs.

Already, scrypt ASICs have hit the market and more to come in from July onward. Diffuclty will  zoom up and there is no guarantee that prices will respond accordingly , because price of a coin depends on it's demand not on  hashing power, which only increases supply.

GPU will definitely finds it's way to survive each time with different algo, because it's a affordable mining tool for masses. Scrypt  coins are already outnumbered by X11.

More x11/scrypt multipools are coming into the market and they do their due diligence before decide to mine any coin.One can mine with those multipools if not sure about a coin.

I think thats is why PoS is the future. Mining will always be wasteful and inefficient and centralise.

I suppose the future of GPU mining is bleak. With ASIC's coming in on a regular basis, GPU mining is not very cost effective due to the difficulty increases. I think it would be better to use GPU for Pre-Mining or mining new coins as they come out (and hope that they make it big!). Having said that, most crypto coming out these days appear to be copy paste coins :(

For pre-mining not mining hardware required.

There is one way i was pondering to mine HBN.. it gives 2% stake every 10 days roughly(though in theory) but we can mine and stake.
When price increases we convert them in BTC.
Any advise guys.?

Some coins with new algorithms will be still mining by GPU. For another ones with scrypt algo asics will be used.

I think it will die, because it uses so much power.
Also I think that some new products will be launched to mine bitcoin again.
Look at asic mining, they are already much better then the gpu, and more products like that will come on the market.
That dont use alot of power and that can mine alot of bitcoins.