GPU mining will die in 2018!

[Greatgems]

GPU Mining has massively grown and new Coins Using the Crypto Night Algo keep coming Out Regularly along with Equalhash. If anything Because China Controls so much of the ASIC its leading allot of newer coins to GPU Mined Algos to help Encourage a true decentralization of there coin.

[1714472829]

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[1714472829]

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[sunnydmd]

What I'm most worried about is the introduction of quantum computers. When quantum computers are born, the digging of coins is terrible. Minners will go bankrupt because all the coins that they can dig can be exploited. There will be no need for Minner anymore. They will sell out their equipment. It's Terrible.

[ciborgue]

You're missing the point.

It doesn't matter how good these new algorithms are going to be. You brand-new shiny fancy "supercoin" is worth as much as people want to pay for it (a.k.a market cap). Bitcoin is a king here and is going to stay the king until bubble pop -just because billions of $$$ are already invested in Bitcoin. Your "supercoin" (and I assume it is mathematically/cryprographically is superior to Bitcoin) is going to be the third class member of this society at best. Most likely it won't worth the electricity spent mining it.

So I don't expect any new algorithms or any new coins of significant value; Bitcoin will stay #2, ETH #2 and I'm not sure about #3.
Frankly, I think Bitcoin will collapse rather sooner than later. However, it's not time yet. I think by 2019 it'll be all over.

[ciborgue]

What I'm most worried about is the introduction of quantum computers. When quantum computers are born, the digging of coins is terrible.

Don't worry, mining is going to be your smallest problem. As soon as somebody put together even 1k qbit unit traditional cryptography as we all know it is dead - and so does the world as we know it. Think about it: Internet commerce is gone, secure communication is gone, financial system is back on dedicated dial-up lines. You can't pay with a credit card anymore, you can't trade unless you're physically on the Wall St. Welcome back to the 70s, man.

[Bankincoins]

What I'm most worried about is the introduction of quantum computers. When quantum computers are born, the digging of coins is terrible.

Don't worry, mining is going to be your smallest problem. As soon as somebody put together even 1k qbit unit traditional cryptography as we all know it is dead - and so does the world as we know it. Think about it: Internet commerce is gone, secure communication is gone, financial system is back on dedicated dial-up lines. You can't pay with a credit card anymore, you can't trade unless you're physically on the Wall St. Welcome back to the 70s, man.

LOL. That's idiotic FUD.  Crypto is as good as it needs to be.  Quantum computing will require a huge increase in entropy and changes in methods but we are not going back to the 70s.

[ATTN]

Can anyone show us the technical design of an ASIC appropriate for Equihash/Ethash?

[ciborgue]

Can anyone show us the technical design of an ASIC appropriate for Equihash/Ethash?

I doubt it. Ethash was designed (please /lcybzq6]read the design paper) to require huge memory bandwidth.
ASICs give you advantage in SHA Hashes/Watt ratio, but for Ethash that represents a small fraction of the process (unlike the Bitcoin, that, essentially, IS a SHA).

In other words, ASICs can give you cheap SHA rounds but can't provide you enough memory. You have to have 1GB dataset per ASIC.
Technically you can regenerate parts of the dataset as you go - but that is going to kill the performance (+16MB ASICs aren't cheap).

It is still doable in ASICs - however not economical.

[sjyi]

The memory requirement for the current GPU mining is simply too much for today's ASICs miners.  But the ASIC being ASICs, the design should be able to utilize off-chip memory.  The design investment would be a greater bottle neck than the current technology.

I wouldn't think it would happen in 2018.

[VyprBTC]

Die don't die. We're winning either way.

Not a fuck to be found. How 'bout u?

[ciborgue]

Quantum computing will require a huge increase in entropy and changes in methods but we are not going back to the 70s.

Actually, yes we are. One thing that keeps traditional cryptography alive (we're still talking about asymmetric schemes based on large number factorization, correct?) is the fact that the largest quantum unit today (that we know of) is 50 qubits. Make it 5,000 and your SSL session can be decoded in seconds, no matter how good your entropy source is. EC-based is a little bit tougher but not by far.
One technology is there you'll need quantum devices to secure your information. But we're talking about decades timeframe, cryptocurrencies will be long dead by then.

[ciborgue]

I wouldn't think it would happen in 2018.

I don't think it'll happen ever. The problem is not only in memory per se but in memory bandwidth. Fast memory = expensive memory. And that is what makes a good ETH miner, not the speed of SHA rounds. So I don't expect any breakthrough in ETH ASIC mining. Somebody can try though, I might be totally wrong.

Think "stripped down GPU with SHA3 hardware units instead of general-purpose compute units". Won't be cheap though, nothing near Ant Miners.

[tenebriscaelum]

I will really be hard to judge that GPU mining will be done any time soon as of now GPU prices shot up two to three times its worth that is just means that GPU mining will still be in the market. As of now it creates confusion and frustration specially to the one that buys hardware either for mining or gaming community because of these price hikes.

[notbatman]

The computer store I buy my GPUs at doesn't have any GPUs left and there's a message saying they won't be getting any more in the near future.

Any suggestions?



Weak sauce:

https://arstechnica.com/tech-policy/2018/01/cryptocurrency-boom-creates-insane-global-graphics-card-shortage/

[mindrust]

Why don't you just mine BURST? It is ASIC-proof. PoC is a unique way to mine which can't be replaced by ASICs. Also HDDs spend a lot less electricity and setting them up is fairly easy.

[RuslanRS]

In Russia GPU mining is popular now, so shops of GPU is empty, or it is expensive (1060 3gb - 320 $), but a few month ago GPUs was numerous. If GPU mining will die, then we will see a lot of cheap GPU.

[Amph]

you can't keep with new algo each time they release a new coin, asic development are not that fast for new algo, by the time you make it, there will be a new algo etc...

[notbatman]

In Russia GPU mining is popular now, so shops of GPU is empty, or it is expensive (1060 3gb - 320 $), but a few month ago GPUs was numerous. If GPU mining will die, then we will see a lot of cheap GPU.

Dude there's no GPUs left, GPU mining is dead. I'm freaking out right now....

[sunnydmd]

What I'm most worried about is the introduction of quantum computers. When quantum computers are born, the digging of coins is terrible.

Don't worry, mining is going to be your smallest problem. As soon as somebody put together even 1k qbit unit traditional cryptography as we all know it is dead - and so does the world as we know it. Think about it: Internet commerce is gone, secure communication is gone, financial system is back on dedicated dial-up lines. You can't pay with a credit card anymore, you can't trade unless you're physically on the Wall St. Welcome back to the 70s, man.

LOL. That's idiotic FUD.  Crypto is as good as it needs to be.  Quantum computing will require a huge increase in entropy and changes in methods but we are not going back to the 70s.

You mean the Crytocurrency market will collapse. I do not think about it. I only fear for the minner will be threatened interests. The birth of quantum computers will be the purification of the market.

[/quote]

Don't worry, mining is going to be your smallest problem. As soon as somebody put together even 1k qbit unit traditional cryptography as we all know it is dead - and so does the world as we know it. Think about it: Internet commerce is gone, secure communication is gone, financial system is back on dedicated dial-up lines. You can't pay with a credit card anymore, you can't trade unless you're physically on the Wall St. Welcome back to the 70s, man.
[/quote]
I'm not referring to the usefulness of technology. Blockchain technology is limitless. Take a look at Blockchain's application. Great.

[notbatman]

^^^ BS I can make an monte-carlo optical processor that's more powerful than any quantum computer and it still can't calculate the btc blockchain in any reasonable timeframe.

[Metroid]

It's funny, people are paying $800 for a rx 580 and they think gpu mining will not die hehe, Yes it will not die cause it's already dead hehe.