GPU mining will die in 2018!

[adaseb]

I think what really drove up the difficulty wasn't miners buying 20-30 GPUs to mine at their home but it was the idle GPUs sitting with gamers.

Most gamers I know personally got about 2-3 idle GPUs and they hooked them up and just mine when they sleep.

After a few months they buy some cool hardware on Newegg using those BTCs.

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[Metroid]

I guess now the bad got badder, cryptonight asics are about to be released to the public and it looks like this thread might come to be the truth in 2018 and here I thought cryptonight would save all gpu miners. I can't believe I will be right again. I wished i could be wrong for once but I guess my experience within the crypto community since 2008 tells otherwise.

[rdluffy]

I guess now the bad got badder, cryptonight asics are about to be released to the public and it looks like this thread might come to be the truth in 2018 and here I thought cryptonight would save all gpu miners. I can't believe I will be right again. I wished i could be wrong for once but I guess my experience within the crypto community since 2008 tells otherwise.

Why cryptonight Asics will kill gpu mining?

A LOT of hashrate of cryptonight are botnets, and CPUs
If cryptonight is not worth anymore, hackers will stop to use botnets, and people will turn off the CPUs to mine

In my opinion, the only real danger is Asic for ETHASH, because most of GPUs are mining ETH
And to kill ETHASH the performance should be HUGE

[Miningtry]

My humble opinion is that cpu-s mining is future. Mostly because of upcoming ASICs that will destroy gpus.

[CryptoWatcher420]

I guess now the bad got badder, cryptonight asics are about to be released to the public and it looks like this thread might come to be the truth in 2018 and here I thought cryptonight would save all gpu miners. I can't believe I will be right again. I wished i could be wrong for once but I guess my experience within the crypto community since 2008 tells otherwise.

Why cryptonight Asics will kill gpu mining?

A LOT of hashrate of cryptonight are botnets, and CPUs
If cryptonight is not worth anymore, hackers will stop to use botnets, and people will turn off the CPUs to mine

In my opinion, the only real danger is Asic for ETHASH, because most of GPUs are mining ETH
And to kill ETHASH the performance should be HUGE

asics will kick all those botnets and cpus to the curb once the asics get released, anyone with half a brain knows that. take siacoin for instance that just had asics released. theres NO one mining with gpus on that coin anymore, why because gpus are no longer profitable on it because of the high hashrate the asics push out


on a more serious note though Metroid needs to sing a new tune cause this one is getting super old, his roids must be really out of wack

[leowonderful]

My humble opinion is that cpu-s mining is future. Mostly because of upcoming ASICs that will destroy gpus.

CPU mining is dominated by botnets, and it's hardly profitable most of the time anyways. Monero's usually the most profitable crypto you can mine with a CPU, and GPUs easily outhash any CPU you might have (see flashed Vega 56/64 at ~2KH/s versus CPUs at ~500H/s). It's very likely not the future, and most CPU-mineable coins are also GPU mineable.

[gotminer]

I guess now the bad got badder, cryptonight asics are about to be released to the public and it looks like this thread might come to be the truth in 2018 and here I thought cryptonight would save all gpu miners. I can't believe I will be right again. I wished i could be wrong for once but I guess my experience within the crypto community since 2008 tells otherwise.

Why cryptonight Asics will kill gpu mining?

A LOT of hashrate of cryptonight are botnets, and CPUs
If cryptonight is not worth anymore, hackers will stop to use botnets, and people will turn off the CPUs to mine

In my opinion, the only real danger is Asic for ETHASH, because most of GPUs are mining ETH
And to kill ETHASH the performance should be HUGE

asics will kick all those botnets and cpus to the curb once the asics get released, anyone with half a brain knows that. take siacoin for instance that just had asics released. theres NO one mining with gpus on that coin anymore, why because gpus are no longer profitable on it because of the high hashrate the asics push out


on a more serious note though Metroid needs to sing a new tune cause this one is getting super old, his roids must be really out of wack

I got two merit points for the post where I gave Metroid the number for the suicide hotline.  I was so proud of myself ... Lol.  Wait I mean ... hehe.

[M1nd1nvest]

I think that GPU mining has die long before ...

[UneducatedChild]

GPU processing is still very reliable, depending on developers they can actually kill the mining standards giving place only to ASICS or they can improve the mining algorithms for GPUs so domestic miners can still survive

[Atomicc]

I think that GPU mining has die long before ...

Every few months We have an info that GPU mining will die. I heard it since first ASIC came to market. But, GPU mining is here, and will be here in the future. Maybe, with some new algos, new coins... and new GPUs...
Let's try to look it from another side. What is the profitable life time of one brand new ASIC? Not more than 8 months, and You will never know would You make return of Your investment. If You bought RX470/480 in August 2016, it is still profitable.
 

[rdluffy]

Remember guys, the main proposal of cryptos in general is Decentralization

Asics and big farms are total against Decentralization, we are losing focus here, we can say NO to every Asic and DO NOT BUY these craps

[Metroid]

Right now I'm concerned cause I really thought the asic companies would never build a cryptonight asic cause that is too shameful, cryptonight is the last defense right now against all evil in the money world. This is really bad, those companies don't have a single bit of decency or morality whatsoever.

I got two merit points for the post where I gave Metroid the number for the suicide hotline.  I was so proud of myself ... Lol.  Wait I mean ... hehe.

To make you happy you got one from me now hehe

[gotminer]

Right now I'm concerned cause I really thought the asic companies would never build a cryptonight asic cause that is too shameful, cryptonight is the last defense right now against all evil in the money world. This is really bad, those companies don't have a single bit of decency or morality whatsoever.

I got two merit points for the post where I gave Metroid the number for the suicide hotline.  I was so proud of myself ... Lol.  Wait I mean ... hehe.

To make you happy you got one from me now hehe

Thanks!  I guess you are nice sometimes ... Lol.

[rdluffy]

Metroid, instead of post FUD and spread the fear on new miners, why don't we fight against Asics?

New miners are not the problem, Asics and big farms are
You are an active member and together we can boycott Asics

[Subutai]

New coins/tokens are being created just as quickly as those switching to PoS or ASIC. I'm not sure if coins in the top 10 will be viable for GPU mining, but there will always be something to point your rig at.

CPU mining is another matter though. I wonder what percentage of it is used by botnets.

[Atomicc]

Right now I'm concerned cause I really thought the asic companies would never build a cryptonight asic cause that is too shameful, cryptonight is the last defense right now against all evil in the money world. This is really bad, those companies don't have a single bit of decency or morality whatsoever.

The ASIC producers, cheat their buyers several times.

- D3 Dash miner: todays profit 3.96USD (if You calculate the electric power cost, not profitable at all)
- L3 Litecoin miner: todays profit 8.2USD (hardly profitable)
- S9 SHA256 miner: todays profit 9.98USD (with small drop of BTC will not be profitable)

Some of those units people bought for over 3000USD. Now they have only noisy heaters, and lost their money.

What a business model! Produce the unit, take money from buyers in advance, put it in mining farm for 3 months while it is very profitable, and than deliver it like used ones. Make a huge oversold of units and algo diff. skyrocket, profitability ZERO.
They know what they are doing, and doing it with every new model. Huge hype on the beginning (representing big profitability at moment), presale etc... Only early adopters can profit, all others, when they receive units, have very long period of ROI.
I hope that new buyers will understand this "ponzi scheme" and protect their money.

Regarding this new "cryptonight miner", I think that this will be the first time We have here antihype atmosphere.
Monero team  (biggest Cryptonight coin) announce antiASIC fork, followed by other (IPBC etc...). All other cryptonight coins do not have enough daily trade volume, and when we will have more coins than it can be sold price will drop.
Coin owners invest lot in their coins, I believe they will protect projects, and will follow the Monero, IPBC etc...in anti ASIC algo change.
It is much better than see the prices around one satoshi.  

[leowonderful]

Right now I'm concerned cause I really thought the asic companies would never build a cryptonight asic cause that is too shameful, cryptonight is the last defense right now against all evil in the money world. This is really bad, those companies don't have a single bit of decency or morality whatsoever.

The ASIC producers, cheat their buyers several times.

- D3 Dash miner: todays profit 3.96USD (if You calculate the electric power cost, not profitable at all)
- L3 Litecoin miner: todays profit 8.2USD (hardly profitable)
- S9 SHA256 miner: todays profit 9.98USD (with small drop of BTC will not be profitable)

Some of those units people bought for over 3000USD. Now they have only noisy heaters, and lost their money.

What a business model! Produce the unit, take money from buyers in advance, put it in mining farm for 3 months while it is very profitable, and than deliver it like used ones. Make a huge oversold of units and algo diff. skyrocket, profitability ZERO.
They know what they are doing, and doing it with every new model. Huge hype on the beginning (representing big profitability at moment), presale etc... Only early adopters can profit, all others, when they receive units, have very long period of ROI.
I hope that new buyers will understand this "ponzi scheme" and protect their money.

Regarding this new "cryptonight miner", I think that this will be the first time We have here antihype atmosphere.
Monero team  (biggest Cryptonight coin) announce antiASIC fork, followed by other (IPBC etc...). All other cryptonight coins do not have enough daily trade volume, and when we will have more coins than it can be sold price will drop.
Coin owners invest lot in their coins, I believe they will protect projects, and will follow the Monero, IPBC etc...in anti ASIC algo change.
It is much better than see the prices around one satoshi.  

The First Time there's been a negative atmosphere around miners? There was already a negative atmosphere with the A3 and D3, though the ambiance was lighter with the D3 when it initially came out (I was personally one of the more pessimistic people about the miner). The L3+ is still profitable, making around $200 a month after an electrical cost of $.10/kWh, and in terms of mining revenue in BTC on Nicehash the L3+ has remained fairly consistent for the past month. You're right about the rest of the miners, though (the D3 is pretty much a worthless doorstop at this point and I wouldn't suggest buying any of the miners Bitmain currently offers unless you're willing to accept massive risk for very little potential profit). I'm personally glad more people are realizing the risks of mining from others getting burned, though. Too many people think mining's just a get-rich-quick scheme nowadays.

You did forget to mention the A3 that's currently making around $600/month in electrical costs of ten cents per kw, but I expect difficulty to rise on that chain eventually as well (not to mention they're currently OOS on Bitmain's site).

[Metroid]

Metroid, instead of post FUD and spread the fear on new miners, why don't we fight against Asics?

New miners are not the problem, Asics and big farms are
You are an active member and together we can boycott Asics

I left mining on 2013 when ltc crashed, after that I only bought and sold coins, I do test things though and help the community with few things. I have always been against asics and the people that know me, can confirm it. I'm never against gpu mining in any way, I'm all for it cause gpu mining regarding proof of work is the most practical and correct way cause that is why decentralization comes in, the idea about btc's creator is no different than mine, spread coins to cpu/gpu owners, in a computer today we have 2x more cpu cores, back then we had only nehalen 1366 socket and core maximum 4 ht on 8 cores and that was the corner stone of computing and for that time it was right, nowadays is the gpu era and decentralization still applies to it. I know  is not the same way cpu did back then. I'm against gpu farms the same way I'm against asics, decentralization of power means a percentage of population holds the power and not few people. There are ways to prevent centralization and implement close to 99% decentralization right now, hopefully we will see soon a g3 cryptocoin that will blast everything away that we have seen yet. Decentralization is the future and nothing will be complete till such coin reaches 100% decentralized which will eliminate any farm or asic and will be based only on cpu or gpu alone cause that is what is meant to be.

[CryptoWatcher420]

Right now I'm concerned cause I really thought the asic companies would never build a cryptonight asic cause that is too shameful, cryptonight is the last defense right now against all evil in the money world. This is really bad, those companies don't have a single bit of decency or morality whatsoever.

The ASIC producers, cheat their buyers several times.

- D3 Dash miner: todays profit 3.96USD (if You calculate the electric power cost, not profitable at all)
- L3 Litecoin miner: todays profit 8.2USD (hardly profitable)
- S9 SHA256 miner: todays profit 9.98USD (with small drop of BTC will not be profitable)

Some of those units people bought for over 3000USD. Now they have only noisy heaters, and lost their money.

What a business model! Produce the unit, take money from buyers in advance, put it in mining farm for 3 months while it is very profitable, and than deliver it like used ones. Make a huge oversold of units and algo diff. skyrocket, profitability ZERO.
They know what they are doing, and doing it with every new model. Huge hype on the beginning (representing big profitability at moment), presale etc... Only early adopters can profit, all others, when they receive units, have very long period of ROI.
I hope that new buyers will understand this "ponzi scheme" and protect their money.

Regarding this new "cryptonight miner", I think that this will be the first time We have here antihype atmosphere.
Monero team  (biggest Cryptonight coin) announce antiASIC fork, followed by other (IPBC etc...). All other cryptonight coins do not have enough daily trade volume, and when we will have more coins than it can be sold price will drop.
Coin owners invest lot in their coins, I believe they will protect projects, and will follow the Monero, IPBC etc...in anti ASIC algo change.
It is much better than see the prices around one satoshi.  

umm maybe you should look up the definition of Ponzi scheme. sure its a shitty  business model but its far from a Ponzi, your implying that people are dishing out money and not getting anything back in return which isn't the case, those buyers are getting asics, theres always risk involved with those and to disregard that is just stupid just like calling it a Ponzi scheme which it is not. those that get suckered into a true Ponzi DONT GET ANYTHING BACK and they LOSE IT ALL

[rdluffy]

Metroid, instead of post FUD and spread the fear on new miners, why don't we fight against Asics?

New miners are not the problem, Asics and big farms are
You are an active member and together we can boycott Asics

I left mining on 2013 when ltc crashed, after that I only bought and sold coins, I do test things though and help the community with few things. I have always been against asics and the people that know me, can confirm it. I'm never against gpu mining in any way, I'm all for it cause gpu mining regarding proof of work is the most practical and correct way cause that is why decentralization comes in, the idea about btc's creator is no different than mine, spread coins to cpu/gpu owners, in a computer today we have 2x more cpu cores, back then we had only nehalen 1366 socket and core maximum 4 ht on 8 cores and that was the corner stone of computing and for that time it was right, nowadays is the gpu era and decentralization still applies to it. I know  is not the same way cpu did back then. I'm against gpu farms the same way I'm against asics, decentralization of power means a percentage of population holds the power and not few people. There are ways to prevent centralization and implement close to 99% decentralization right now, hopefully we will see soon a g3 cryptocoin that will blast everything away that we have seen yet. Decentralization is the future and nothing will be complete till such coin reaches 100% decentralized which will eliminate any farm or asic and will be based only on cpu or gpu alone cause that is what is meant to be.

Thanks Metroid
This is the best post I read from you, totally true and honest
Let's keep this "war" against Asics, I'll do anything to prevent the centralization