Why is GPU Mining still possible on Monero?
Frankly speaking, the whole mining thing is just confusing to me. I once asked why mining Bitcoin with GPU isn't possible & I got several replies such as "due to Increase in mining difficulty." Well, I used to think that as mining difficulty increases so should the GPUs. Instead of converting to ASICs...Miners could just buy 100 GPUs for example to continue making profits.
I guess Monereo Mining difficulty does increase too... why do all miners mining Monero still mine it with CPU & GPU and not heavy mining equipments?
Imagine if it were possible to buy 200 GPUs for example to mine Bitcoin instead of buying ASICs...The 200 GPUs may even consume less electricity?
By the way, GPU/CPUs are easily sourced anywhere. There are even several broken GPUs one could pick from garbages. I believe this will put an end to Bitcoin Centralization.
Its still possible to mine BTC using GPU, its just that for one ASIC that cost $3000, you need about 1800 1080 TI GPUs to get same hashing power.
I'll let you compare electricity expenses, graphic cards cost, and logistic problems using 300 rigs
You could mine monero with ASIC too, its just that that ASIC would cost about 5 million dollars, and not many people have that kind of money, and GPUs are still cheaper
