ETH ASIC Miner here to DOOM GPU Miners? Vitalik response + GPU Prices Lowering

[VoskCoin]

https://youtu.be/ZvP5FVE_i68


The cryptocurrency mining world has been shaken by the news of Bitmain creating their "F3 ETH / ETHash ASIC Miner" which apparently will be ~2x the performance of a GPU mining rig for a similar or lower cost.

Graphics Cards IN STOCK on Amazon - http://geni.us/nti5asr

Ethereum difficulty chart - no HUGE hash inc. - https://goo.gl/SNPiMz
Bitmain developing Ethereum ASIC Miner F3 - https://goo.gl/2KHL6U
Ethereum ASIC Miner Discussion - https://goo.gl/WUms5K
Vitalk Buterin ETH "Creator" against ASIC - https://goo.gl/1Bt1mA
Bitmain Antminer For Sale Shop (reference) - https://goo.gl/9DhMCi
Wall Street Price Analyst AMD NVIDIA - ASIC - https://goo.gl/XddSkL

Mining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCs

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[1715297996]

1715297996

[1715297996]

1715297996

[2stout]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

[rdluffy]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

Yes but don't forget that huge number of cards are mining ETH, if hashrate splits to another coins, what will happen?

[xs.over]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

Take in count that roughly 70% of whole GPU mining profits in USD equivalent it's Ethereum. 4.5+ Mln GPUs mining Ethereum now.
For sure profitable GPU mining will die once Eth go to FULL POS scheme

[sindikat]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

You're wrong. I'm not sure that asic will be released for ETH mining, but the fact that there are asics that work on the cryptonight algorithm is already a fait accompli. It seems to me that this is a significant blow to mining GPU. I heard that only Monero would apply asics protection. They are the first to understand the threat of monopolization of mining.

[lunobird]

https://sfbay.craigslist.org/search/sss?query=mining+rigs

Lol at all the Craigslist adds in my local area. Everyone is scrambling to dump there mining rigs now. Saw like 30 ads of people dumping their rigs. Even one selling his whole 100 GPU mining operation in Washington.

Dark clouds ahead folks. If you're thinking of selling GPU do it now so you can catch some of the premiums. Perfect time was 1 month ago but now GPU on Amazon creeping down lower. 609 for msi 1070 ti. 1 month left and all premium will be gone.

Like bitconnect this is gpudisconnect. It's over folks, we had a good run but it's done done. Go look for some spare change in your couch. Even that is more profitable than mining

Vosk. You may have to apologize to your last boss and head back to work again.

[BroganBloodstone]

Vosk. You may have to apologize to your last boss and head back to work again.

Lol. Made me chuckle

I doubt he will have to do that, I am sure he factored in such dips in the market.

Keep up the good work Vosk.

[2stout]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

Yes but don't forget that huge number of cards are mining ETH, if hashrate splits to another coins, what will happen?

Difficulties will go up but be spread out over coins.  Not too much different than when you see a new or hot coin obtain exponential amounts of hash.

[2stout]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

Take in count that roughly 70% of whole GPU mining profits in USD equivalent it's Ethereum. 4.5+ Mln GPUs mining Ethereum now.
For sure profitable GPU mining will die once Eth go to FULL POS scheme

1)  If full pos ever really happens and when; 2)  the main reason why folks are up in arms at the moment is concerns about the ETH ASIC moreso than pos.

[cryptomined]

I asked Vlad Zamfir about forking to eliminate ASICs..., he said good question and retweeted these... so you could leave your opinions there and he and other devs will see them.

https://twitter.com/CryptominedCom/status/978676674089836546

https://twitter.com/CryptominedCom/status/978626093023354882

Even better, he just posted a Poll... please VOTE on if you would like a hardfork to eliminate ASICs (and give your opinions in the comments)  (Not a proposal... just an opinion poll)

https://twitter.com/VladZamfir/status/979060233430552576

[2stout]

GPU mining will be fine as there are many other coins to mine from than ETH, and profitably.  I also believe the GPU mining FUD is being spread by Wall Street through the media as some big money and hedge funds are betting on the Nvidia and AMD short/PUT and need fear, reduced confidence, and weak hands in stock market for this to be realized since both were flying high previously.

You're wrong. I'm not sure that asic will be released for ETH mining, but the fact that there are asics that work on the cryptonight algorithm is already a fait accompli. It seems to me that this is a significant blow to mining GPU. I heard that only Monero would apply asics protection. They are the first to understand the threat of monopolization of mining.

It's possible I could be wrong but for you to say so definitively is a bit premature- time will tell.  However, I will point out that ASIC's have killed many coins and do believe serious devs will become more vigilant in taking a stand against ASIC's, esp if ASIC resistance is claimed and appropriate algo is selected, unless scamcoin/shitcoin for which dev couldn't care less.

[lunobird]

bitmain just lowered their prices on all asics and dumping asics all on the market now.

Wow tough luck for those that bought last week at a much higher price.  L3+ now only $855

I rather get an L3+ over a 1080 ti anyday.  This alone should cause GPU prices to crash down back to true MSRP.

[VoskCoin]

I asked Vlad Zamfir about forking to eliminate ASICs..., he said good question and retweeted these... so you could leave your opinions there and he and other devs will see them.

https://twitter.com/CryptominedCom/status/978676674089836546

https://twitter.com/CryptominedCom/status/978626093023354882

Even better, he just posted a Poll... please VOTE on if you would like a hardfork to eliminate ASICs (and give your opinions in the comments)  (Not a proposal... just an opinion poll)

https://twitter.com/VladZamfir/status/979060233430552576

This is interesting thanks for sharing this, casted my vote

[VoskCoin]

bitmain just lowered their prices on all asics and dumping asics all on the market now.

Wow tough luck for those that bought last week at a much higher price.  L3+ now only $855

I rather get an L3+ over a 1080 ti anyday.  This alone should cause GPU prices to crash down back to true MSRP.

Can't believe the even further price drops on the antminers . . I mean 300 bucks for a d3? lol... (its appropriate for what it earns. . but they could have just made less)

[VoskCoin]

https://sfbay.craigslist.org/search/sss?query=mining+rigs

Lol at all the Craigslist adds in my local area. Everyone is scrambling to dump there mining rigs now. Saw like 30 ads of people dumping their rigs. Even one selling his whole 100 GPU mining operation in Washington.

Dark clouds ahead folks. If you're thinking of selling GPU do it now so you can catch some of the premiums. Perfect time was 1 month ago but now GPU on Amazon creeping down lower. 609 for msi 1070 ti. 1 month left and all premium will be gone.

Like bitconnect this is gpudisconnect. It's over folks, we had a good run but it's done done. Go look for some spare change in your couch. Even that is more profitable than mining

Vosk. You may have to apologize to your last boss and head back to work again.

that's not how my previous line of work, works and if it did . . never

[yrk1957]

bitmain just lowered their prices on all asics and dumping asics all on the market now.

Wow tough luck for those that bought last week at a much higher price.  L3+ now only $855

I rather get an L3+ over a 1080 ti anyday.  This alone should cause GPU prices to crash down back to true MSRP.

Maybe they caught a sniff of LTC/Scrypt coins forking to go anti-ASIC. In which case it's "must sell today" sale. And you know when that happens...

[wheelz1200]

bitmain just lowered their prices on all asics and dumping asics all on the market now.

Wow tough luck for those that bought last week at a much higher price.  L3+ now only $855

I rather get an L3+ over a 1080 ti anyday.  This alone should cause GPU prices to crash down back to true MSRP.

Can't believe the even further price drops on the antminers . . I mean 300 bucks for a d3? lol... (its appropriate for what it earns. . but they could have just made less)

Vosk in a perfect world they would make and sell asics at a nice equilibreum (enough retail sales with customers able to roi and then some, everyones happy) but unfortunately thats not the world we live in.  If people stopped buying up every asic so quick they might slow down but if one person holds back on buying there will be someone else who does.  Its a winless race.

[m.vina]

But how reliable is the 8btc.com website? Is that a reliable enough source to confirm that an ETH ASIC is really being built? The 8btc websites actually cites a different source "technews" for this. Seems like a lot of finger pointing which may end up all to be FUD.

[VoskCoin]

bitmain just lowered their prices on all asics and dumping asics all on the market now.

Wow tough luck for those that bought last week at a much higher price.  L3+ now only $855

I rather get an L3+ over a 1080 ti anyday.  This alone should cause GPU prices to crash down back to true MSRP.

Can't believe the even further price drops on the antminers . . I mean 300 bucks for a d3? lol... (its appropriate for what it earns. . but they could have just made less)

Vosk in a perfect world they would make and sell asics at a nice equilibreum (enough retail sales with customers able to roi and then some, everyones happy) but unfortunately thats not the world we live in.  If people stopped buying up every asic so quick they might slow down but if one person holds back on buying there will be someone else who does.  Its a winless race.

Thats a perfect way to sum it up . . "winless race" I wish everyone understood that about these ASIC sellers T_T