[2018-02-12]Bitmain To Release Ethereum ASIC Miner F3 With 72Gb DDR3 Dram In Q2

[aliashraf]

Not sure about how it is possible to crack Dagger-Hashimoto algorithm  but I'm more than confident it wont be a profitable business for Bitmain or any other party who attempts to do so.

First of all, this is a crack, ASIC is a crack by definition and bitcoin's SHA2 is a cracked algorithm. It is never a good news for an algorithm and its users that it has been broken by a specialized devil chip.

Bitcoin has tolerated this crack because it has no other choice, this community is too divergent to reach a consensus about such a big issue, changing PoW algorithm, but just take a look at Monero, they will change their algo in a matter of weeks and nobody will care about a Monero-Classic (whatever) dominated by Bitmain ASICs and abandoned by the lead developers.

It is why I don't believe Bitmain to do such a crazy risk. developing an ASIC is a hell of an investment and Vitalik Buterin is not the one who you should mess with. They have not devised an ASIC resistant algorithm in Ethereum.org to be simply broken by a crazy investor. They won't say: Well, let Bitmain take control we will switch to PoS eventually.

Ethereum is not bitcoin, you can not, you should not touch it without double checking everything with the community and the dot ORG and believe me they don't like ASICs  

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[kopija]

https://www.cnbc.com/2018/03/26/analyst-slashes-amd-nvidia-price-targets-on-new-cryptocurrency-mining-chip-from-china.html

"During our travels through Asia last week, we confirmed that Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18," analyst Christopher Rolland wrote in a note to clients Monday. "While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."

Why wait three years to develop ETH ASIC? And then release it just before the rumored POS switch?

[Psychobitch]

There is really no need to even be involved in crypto currencies or bitcoin once asic takes over every single coin. You just choosing between a centralized government or a centralized private mining entity. If that's the case I would rather choose the government.

[rdluffy]

https://www.cnbc.com/2018/03/26/analyst-slashes-amd-nvidia-price-targets-on-new-cryptocurrency-mining-chip-from-china.html

"During our travels through Asia last week, we confirmed that Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18," analyst Christopher Rolland wrote in a note to clients Monday. "While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."

Why wait three years to develop ETH ASIC? And then release it just before the rumored POS switch?

Because they mined with these and then sell to idiots

[nerdralph]

https://www.cnbc.com/2018/03/26/analyst-slashes-amd-nvidia-price-targets-on-new-cryptocurrency-mining-chip-from-china.html

"During our travels through Asia last week, we confirmed that Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18," analyst Christopher Rolland wrote in a note to clients Monday. "While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."

Why wait three years to develop ETH ASIC? And then release it just before the rumored POS switch?

Money.  ~$10M/day is made mining ETH now.  A year ago it was ~$1M/day, and 15 months ago it was <$500K/day.
Bitmain's ethash miner is not going to have a significant impact, because unlike bitcoin and sia mining, it requires large amounts of RAM.  The costs of the RAM significantly exceeds the costs of the ASICs.
At US$450, ETH is now 1/3 of it's peak in Jan, and that is what is having the biggest impact on mining and GPU demand.  Summer is coming in the Norther Hemisphere, which means miners with expensive electricity costs will be shutting down rigs.  Unless the price of ETH climbs back over $1000, I predict the GPU shortage will be over by mid-summer, and GPU cards will be readily available at their MSRP.

[junkstory]

Money.  ~$10M/day is made mining ETH now.  A year ago it was ~$1M/day, and 15 months ago it was <$500K/day.
Bitmain's ethash miner is not going to have a significant impact, because unlike bitcoin and sia mining, it requires large amounts of RAM.  The costs of the RAM significantly exceeds the costs of the ASICs.
At US$450, ETH is now 1/3 of it's peak in Jan, and that is what is having the biggest impact on mining and GPU demand.  Summer is coming in the Norther Hemisphere, which means miners with expensive electricity costs will be shutting down rigs.  Unless the price of ETH climbs back over $1000, I predict the GPU shortage will be over by mid-summer, and GPU cards will be readily available at their MSRP.

I'm happy to report I was able to get some gtx 1060 6GB Founders Edition on nvidia's website for msrp 299 USD.. I subscribed to their notification and was alerted that they were in stock a day before, then I snagged up a couple.

[wtfonly16]

Money.  ~$10M/day is made mining ETH now.  A year ago it was ~$1M/day, and 15 months ago it was <$500K/day.
Bitmain's ethash miner is not going to have a significant impact, because unlike bitcoin and sia mining, it requires large amounts of RAM.  The costs of the RAM significantly exceeds the costs of the ASICs.
At US$450, ETH is now 1/3 of it's peak in Jan, and that is what is having the biggest impact on mining and GPU demand.  Summer is coming in the Norther Hemisphere, which means miners with expensive electricity costs will be shutting down rigs.  Unless the price of ETH climbs back over $1000, I predict the GPU shortage will be over by mid-summer, and GPU cards will be readily available at their MSRP.

I'm happy to report I was able to get some gtx 1060 6GB Founders Edition on nvidia's website for msrp 299 USD.. I subscribed to their notification and was alerted that they were in stock a day before, then I snagged up a couple.

a couple?? you mean 2... u cant buy more then 2...

[IamRune]

Check Ebay, you can pickup 1060s right now for $260 shipped.

[shibob]

I just dont understand how they could make it happen since memory price is a way expensive, while their asic miner was claimed with 72 Gb RAM, so how's it possible with just around 2k usd for 200 mhs. Now I think Bitmain already has many asic miner for ETH and XMR, they just release the miners out to market as XMR is going to change algorithm, or ETH moves to PoS. So, let see how it's going.

[nwo69]

On this article 650mh/s 750w is NOT F3 photo shows it is innosilicon A4+ which is 620mh/s with 750w.
So this asic is A4+ see the green light it is innosilicon's.

Besides that they run 12GPU ETH RIGS.
Why they run RIG while thy have F3S?

What would be the hashrate of this machine?

You can't read?  

650MH/s  @  750Watts  

I wonder how much will it cost?

Really? You just quoted a random statement from a brand new account with 1(ONE) post in the forum?

I say 12 MH/s @ 6000 Watts and that's provided there are such "ASICs" and this is not just FUD to drop the price of GPUs.

12MH/s @ 6000 watts  .... really?  old account with lots of post ... hmmm interesting...
a GTX1060 can do more than that at 70watts  LOL 

new account 1 post, old account lots of post ..   


Anyways..

https://news.bitcoin.com/japans-dmm-launches-large-scale-domestic-cryptocurrency-mining-farm-and-showroom/

DMM’s “ASIC machines purchased [were] made in China,” the TV station noted. “The ASIC machines are 650 MH/s (mega hash/sec), and the GPU machines are about 300 MH/s or less.”

The news outlet further noted that “the power consumption is 750W for ASIC and 1900 to 2000W for GPU,” adding that the GPU mining rigs have twelve GPU cards connected to two power supplies.

[junkstory]

Money.  ~$10M/day is made mining ETH now.  A year ago it was ~$1M/day, and 15 months ago it was <$500K/day.
Bitmain's ethash miner is not going to have a significant impact, because unlike bitcoin and sia mining, it requires large amounts of RAM.  The costs of the RAM significantly exceeds the costs of the ASICs.
At US$450, ETH is now 1/3 of it's peak in Jan, and that is what is having the biggest impact on mining and GPU demand.  Summer is coming in the Norther Hemisphere, which means miners with expensive electricity costs will be shutting down rigs.  Unless the price of ETH climbs back over $1000, I predict the GPU shortage will be over by mid-summer, and GPU cards will be readily available at their MSRP.

I'm happy to report I was able to get some gtx 1060 6GB Founders Edition on nvidia's website for msrp 299 USD.. I subscribed to their notification and was alerted that they were in stock a day before, then I snagged up a couple.

a couple?? you mean 2... u cant buy more then 2...

Yes, "a couple" means 2. Perhaps it is best not to correct others on English if you don't really know English...

[CharlieCox]

Yes, "a couple" means 2. Perhaps it is best not to correct others on English if you don't really know English...

He didn't try to correct you, he rather asked does "a couple" mean 2

unlike bitcoin and sia mining, it requires large amounts of RAM.  The costs of the RAM significantly exceeds the costs of the ASICs

Hm, maybe ACIS manufacturers are the main reason for high RAM prices?

[XiaoJianHua1373]

I think that after the ASIC for the ETH comes out, the developers will come up with some new protection, so it will be a constant struggle between ASIC and GPU.

[CharlieCox]

I agree. If devs said in the white-paper that their algo is ASIC resistant, they mean it and they will change the algo if necessary just to make sure no ASICs are in the game.

[shield132]

Not sure about how it is possible to crack Dagger-Hashimoto algorithm  but I'm more than confident it wont be a profitable business for Bitmain or any other party who attempts to do so.

First of all, this is a crack, ASIC is a crack by definition and bitcoin's SHA2 is a cracked algorithm. It is never a good news for an algorithm and its users that it has been broken by a specialized devil chip.

Bitcoin has tolerated this crack because it has no other choice, this community is too divergent to reach a consensus about such a big issue, changing PoW algorithm, but just take a look at Monero, they will change their algo in a matter of weeks and nobody will care about a Monero-Classic (whatever) dominated by Bitmain ASICs and abandoned by the lead developers.

It is why I don't believe Bitmain to do such a crazy risk. developing an ASIC is a hell of an investment and Vitalik Buterin is not the one who you should mess with. They have not devised an ASIC resistant algorithm in Ethereum.org to be simply broken by a crazy investor. They won't say: Well, let Bitmain take control we will switch to PoS eventually.

Ethereum is not bitcoin, you can not, you should not touch it without double checking everything with the community and the dot ORG and believe me they don't like ASICs  

Oh man, do you really believe that Bitmain will listen to society here? Just see why is their account tagged by DT members.
Also it's another thing what you have to do and it's another what you actually do. Bitmain really don't cared about others, their only aim is to get control on things and get huge profit too.
So I bet they will release asic for ether.

[CallMeTomas]

From what I've heard the hashrate will be combined with the price, it barely competes with an optimized rig, I mean it's nothing like other ASICs, which I guess makes sense since Ethereum relies on memory speed, and using that massive amount of DDR3 doesn't seem very cost effective (I mean, why didn't they use DDR4)
Also the only confirmed Eth ASIC I've seen is really lackluster
https://www.eastshore.xyz/shop/ethereum-miner-geass-198mh-asic-miner-for-ether-mining/

[QuintLeo]

I agree. If devs said in the white-paper that their algo is ASIC resistant, they mean it and they will change the algo if necessary just to make sure no ASICs are in the game.

Ethereum probably won't bother changing their algorithm, since they're getting fairly close to POS at which point ALL mining goes "poof".

Any Bitmain ASIC for ethash algorithm better be bloody LOW in price for anyone to have a prayer of making their money back on them, especially if the estimated "still a couple months off" release date I've seen mentioned a couple places proves to be correct or on the LOW side.

I would be inclined to call this "mistake #2 Bitmain has made this year", following in the footsteps of their Cryptonight miner.

Too bad they're still making money hand-over-fist on their SHA256 and Scrypt miners and can AFFORD to make a few multi-million dollar mistakes like this.

[whoismoses]

Have any of you ever looked into the company from Wallstreet (that is actually located in Pennsylvania)? They are super shady. Google them.

[pickleburglar]

I agree. If devs said in the white-paper that their algo is ASIC resistant, they mean it and they will change the algo if necessary just to make sure no ASICs are in the game.

Ethereum probably won't bother changing their algorithm, since they're getting fairly close to POS at which point ALL mining goes "poof".

Any Bitmain ASIC for ethash algorithm better be bloody LOW in price for anyone to have a prayer of making their money back on them, especially if the estimated "still a couple months off" release date I've seen mentioned a couple places proves to be correct or on the LOW side.

I would be inclined to call this "mistake #2 Bitmain has made this year", following in the footsteps of their Cryptonight miner.

Too bad they're still making money hand-over-fist on their SHA256 and Scrypt miners and can AFFORD to make a few multi-million dollar mistakes like this.

ETH devs have always said that the PoS change won't be instant but gradual, starting with 1% of blocks being mined by stakers and going to 100% over the course of a year or longer.

The only question is - did bitmain pay off the dev team well enough for them to allow ASIC's on the network? Because ETH devs have the power to do what monero did and just fork to a modified algorithm, there is no reason to stick with the current algorithm if they get nothing out of it.

[cuteman]

I don't believe Bitmain to do such a crazy risk. developing an ASIC is a hell of an investment and Vitalik Buterin is not the one who you should mess with.

Wall Street firm Susquehanna told clients in a note that Bitmain will be shipping an ASIC for mining ETH starting in the second quarter of 2018, adding that although “Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."