Thousands of avalon asic chips will soon kill gpu mining !

[Tamis]

Have you seen how many of the avalon asic chips have been bought ?

At least 60k (probably a lot more)... and those babies do something like 282Mh/s !

I was getting ready to mount a 4 gpu mining rig but it's nonsense do to it now because of those chips that will hit the pools by the end of the year :/

[coastermonger]

Unless you believe in LTC or other alt currencies, the days of bitcoin mining for GPU's are finally coming to an end.

It's a good thing too, because we'll be seeing less botnets (at least for bitcoin).  Checkout out the rise in difficulty these past few months has been pretty scary.  But it's interesting what will happen when the difficulty gets way too high.  It means BTC is more scarce, and if you can't get it by mining, the best way to get it will just be to buy it.

[Preschoolv2]

yup. better buy an asic

[fran2k]

GPU mining is going to find is way.

There still are CPU (botnet) friendly coins, as YACs.

[ewitte]

I've ordered 34 of them and having 2x K16 boards assembled.  Hopefully its just the start if I want to keep up lol.

[soulmann]

I was thinking about new rig too, but for now I will wait for 2-3 months, to see how will it go with avalon chips.

[LiveJay]

It means BTC is more scarce...

How do you figure?  Blocks should still crank out one about every 10 minutes.  Difficulty has no bearing on the availability of BTC in general, just how much of it is mine!

-Jay   

[ewitte]

I was thinking about new rig too, but for now I will wait for 2-3 months, to see how will it go with avalon chips.

It will take 2-3 months to get the Avalon chips & K16

[computerparts]

what else is new 

[Crindon]

I was thinking about new rig too, but for now I will wait for 2-3 months, to see how will it go with avalon chips.

It will take 2-3 months to get the Avalon chips & K16

Probably around the time when most people will get theirs and get them online, then the difficulty will increase greatly, more so than the 28% jump today.

[Eastwind]

I have moved my GPU to LTC.

[Amph]

WDC and DGC say hi

[ewitte]

Probably around the time when most people will get theirs and get them online, then the difficulty will increase greatly, more so than the 28% jump today.

I would guess the original message on this thread is way off.  Current orders is probably closer to 500k.  All depends on Avalon but they seem to do a better job getting products out than other companies  I'm in the process of returning two overheating video cards hope to get two more K16's on order.  I'm thinking 18GH/s should just barely be better than the 2.8GH/s I had just recently by the time I get them lol.

I've got my RPi programmed and ready

[mgio]

GPU mining is already dead. Even before the 500,000 or so Avalon chips that are due to be shipped.

Don't forget that BFL is finally shipping and claim to have their entire backlog of 60,000 orders shipped in the next 90 days (I doubt that but still they have finally started shipping in larger quantities).
You also have Avalon batch 2 and 3 which have yet to ship (batch 2 has barely begun).
And then you have ASICMiner which is not only sellign hardware but mines >25% of the world hashrate themselves.

[Tamis]

I've been doing quite a bit of reading since I started this thread and I realize that even small asics buyers will probably be left behind.
50gh/s will soon be the minimum requirement to mine.

[Emmie]

I wonder how many of these chips will end up with people who will take a long time to get them running, who just bought them in a hurry and won't know what to do etc.

[-ck]

My prediction: You will find that GPU mining will be profitable on alt currencies for a little while longer beyond it being unprofitable to mine BTC, but eventually the altcoins will reach parity with GPU mining on BTC. The altcurrencies think they're immune to the effect of ASICs, but in fact they are on a course of delayed parity with bitcoin mining as far as I can see. While there's a growing demand for cryptocurrency usage, there's not enough to sustain many of them...

Nice thing about GPUs, though, you can always sell them.

[Moebius327]

better buy some shares then

[ewitte]

I've been doing quite a bit of reading since I started this thread and I realize that even small asics buyers will probably be left behind.
50gh/s will soon be the minimum requirement to mine.

At some point but 50GH/s *may* not be necessary this year.  You may still be able to do a decent job with 10-20GH/s.  Decent being subjective.