Will GPU mining die soon because of ASICs invasion?

[Viceroy]

Yea but memory is ULTRA cheap.  Gigs cost dollars.  Now stop trying to scare the miners away from litecoin mr early adopter.

[aqrulesms]

Yea but memory is ULTRA cheap.  Gigs cost dollars.  Now stop trying to scare the miners away from litecoin mr early adopter.

I don't see how your project benefits anyone. In fact, you're trying to accomplish the same ends as what is happening on Bitcoin. Litecoin should not have ASICs unlike Bitcoin. Actually your project is completely hypocritical to your own statements on being "ASIC hostile".

Let's see if you can fit 120 GB of memory onto a 60 mhash ASIC. That's just "RAM" as well (DDR3), factor in the memory for the actual "cores" (GDDR5). It costs about $50 for 2 GB of GDDR5, and we'll need way more than that for an ASIC.

After that, then you would have to have an ENORMOUS and super fast memory bus; otherwise it's no more efficient than a GPU.

If this is all said and done, it would be slightly more efficient compared to GPU. (2-10x more), compared to bitcoin ASICs which is a huge step over the GPUs.

[Viceroy]

if what you say is true then every miner should move to litecoin, no?

[aqrulesms]

if what you say is true then every miner should move to litecoin, no?

Yes, the average individual is better off mining litecoin compared to bitcoin which will become dominated by the big players. Huge quantities of ASICs may be produced by private entities for their own personal gain.

This is potentially a problem since it could cause problems such as the widespread centralization of Bitcoin mining. Open market supply for ASICs may be minimal compared to the production for personal mining.

[2GOOD]

So far so good... BUT when all that miners go to LTC.. what happens to:
LTC diff. and more importantly - PRICE, who on earth will want to buy LTC with precious little bitcoins

We all seen that when end of 2012 when block reward went half for bitcoin. IMO Litecoin is a pure speculation (4) now

[Signus]

if what you say is true then every miner should move to litecoin, no?

Starting to mine litecoin woud be a good idea, I think. Had I not stopped mining bitcoins a while ago, I would have hit that bubble and I wouldn't be regretting falling out. An early start on any crypto is a good idea. Large investments may not be.

I still think people should invest some time into trying out bitcoin whether it's for fun or profit.

[mgio]

GPU mining will be completely dead within 3 months. For bitcoin at least. The alt currencies might be worthwhile to mine for but I predict their value is going to stay very low.

GPU mining will die because ASICs are an order of magnitude faster and use less power too. GPU will consume more electricity that they could ever hope to make back mining. We will see difficulties I'm the hundreds of millions. Do the math and see that GPU mining is doomed.

[mokahless]

GPU mining will be completely dead within 3 months. For bitcoin at least. The alt currencies might be worthwhile to mine for but I predict their value is going to stay very low.

GPU mining will die because ASICs are an order of magnitude faster and use less power too. GPU will consume more electricity that they could ever hope to make back mining. We will see difficulties I'm the hundreds of millions. Do the math and see that GPU mining is doomed.

Math doesn't tell me the future price of bitcoin. I find what you are saying to be likely but I disagree that it is a definite possibility. For example, using Ontario electric rates, bitcoins would have to be $600-700CAD+ each to make a profit mining using most GPU setups. I personally find this unlikely but with Bitcoin, you never know. This assumes an 800TH/s network that I expect optimistically by Nov/Dec.

Did you know that at the current difficulty, CPU mining can be profitable at $290CAD/BTC at Ontario electricity prices? (total system 200W load 1090t doing 23MH/s)

Also, had people mined at the peak of 2011 via CPU and kept the coin, they could sell them now and make 4 times the cost of the electricity in profit. This assumes current-day Ontario electricity rates.

[ebildude123]

It may die for bitcoin, but miners will just keep moving on to the next profitable coin, if there are any.

[Schrankwand]

Yea but memory is ULTRA cheap.  Gigs cost dollars.  Now stop trying to scare the miners away from litecoin mr early adopter.

I don't see how your project benefits anyone. In fact, you're trying to accomplish the same ends as what is happening on Bitcoin. Litecoin should not have ASICs unlike Bitcoin. Actually your project is completely hypocritical to your own statements on being "ASIC hostile".

Let's see if you can fit 120 GB of memory onto a 60 mhash ASIC. That's just "RAM" as well (DDR3), factor in the memory for the actual "cores" (GDDR5). It costs about $50 for 2 GB of GDDR5, and we'll need way more than that for an ASIC.

After that, then you would have to have an ENORMOUS and super fast memory bus; otherwise it's no more efficient than a GPU.

If this is all said and done, it would be slightly more efficient compared to GPU. (2-10x more), compared to bitcoin ASICs which is a huge step over the GPUs.

We wouldn't need that, but a 1-5mh/s ASIC would be a good thing, if it consumed less power. I believe that reducing worldwide power consumption is always a good thing. And a 5mh/s LTC ASIC with around 8gigs of GDDR5 and 16gb of DDR3 would be doable.

This kind of machine wouldn't disrupt the market too much, would be quite expensive and save tons of power.