BITMAIN was mining ETH in their farms ! BITMAIN Is killing GPU miners

[ThugB33]

R.I.P ETH .... Think ppl ... ETH will fork soon. The miners are delivered in late July ... that's for months from now and fork will happen before that ... Shitmain just cant deliver non working product to customers! Ppl will burn their office and they will be shot in public (I like that they do in China) lol

[Gongolo]

Gpu mining cannot be killed that easily. Bitmain maybe mining Ethereum but for the gpu miners there are a lot of other coins which are based on Ethereum like Pirl, Music and a few others. Their difficulty is relatively low to mine and I am happily mining Musicoin because my 3GB Gpus cannot write the dag epoch 179 which is the actual one.

As for bitmain first thing to do if you want to fight them is to stop buying their products, but this will never happen since they produce the best miners for the moment.

I'd like it to be true, but I think those who buy from bitmain today will continue to buy from bitmain tomorrow: bitmain is a giant because it earns a lot during the "test and pre-mine phase", before shipping.
Then, they sell them, adding money to money.
Those who are looking for a quick gain, even if for a limited time, will still buy.
Imho, noone will stop bitmain now, except cn government.

[QuintLeo]

Given the relatively LOW performance of the E3, even if Bitmain WAS mining on a lot of them (unlikely) before they announced them, they had little or no impact on ETH profitability.
They're WORSE efficiency than a well-tuned 6-card GTX 1070 rig, about the same vs a 6-card RX 470/480/570/580 rig - the only reason they might make SOME dent into GPU mining is the low price Bitmain set them at and that is going to be a SMALL dent unless Bitmain literally sells SEVERAL HUNDRED THOUSAND of these particular ASIC units.

1 MILLION of these units sold wouldn't achieve 50% of ETH total network hashrate - and even Bitmain would need a very long time to build and sell a million of these.


The sky not only is not falling, it's barely even a light drizzle....

[Gongolo]

Given the relatively LOW performance of the E3, even if Bitmain WAS mining on a lot of them (unlikely) before they announced them, they had little or no impact on ETH profitability.
They're WORSE efficiency than a well-tuned 6-card GTX 1070 rig, about the same vs a 6-card RX 470/480/570/580 rig - the only reason they might make SOME dent into GPU mining is the low price Bitmain set them at and that is going to be a SMALL dent unless Bitmain literally sells SEVERAL HUNDRED THOUSAND of these particular ASIC units.

1 MILLION of these units sold wouldn't achieve 50% of ETH total network hashrate - and even Bitmain would need a very long time to build and sell a million of these.


The sky not only is not falling, it's barely even a light drizzle....

I think that E3 is a good replacement for some amd eth gpu rigs: about same cost, lower power usage.
And it is a good add-on for nvidia gpu rigs, that usually are not used for ethash mining.

That said, I agree with you: E3 is not so powerful, maybe bitmain is just testing the market before releasing a new miner, perhaps E3+.

[whotheff]

Gpu mining cannot be killed that easily. Bitmain maybe mining Ethereum but for the gpu miners there are a lot of other coins which are based on Ethereum like Pirl, Music and a few others. Their difficulty is relatively low to mine and I am happily mining Musicoin because my 3GB Gpus cannot write the dag epoch 179 which is the actual one.

As for bitmain first thing to do if you want to fight them is to stop buying their products, but this will never happen since they produce the best miners for the moment.

Hint: all the coins you mentioned CAN be mined by Bitmain's ASIC because they all use Ethash algorythm. Including Music, Pirl and so on.

[senseless]

is this surprising to ANYONE?

How many times do you have to get hit in the head with a rock before you start ducking?

[ManicMiner23]

Gpu mining cannot be killed that easily. Bitmain maybe mining Ethereum but for the gpu miners there are a lot of other coins which are based on Ethereum like Pirl, Music and a few others. Their difficulty is relatively low to mine and I am happily mining Musicoin because my 3GB Gpus cannot write the dag epoch 179 which is the actual one.

As for bitmain first thing to do if you want to fight them is to stop buying their products, but this will never happen since they produce the best miners for the moment.

As for bitmain first thing to do if you want to fight them is to stop buying their products

This +1

Hello, you can continue dreaming, bitmain new eth miner was sold out in few hours if not few minutes.

[QuintLeo]

Gpu mining cannot be killed that easily. Bitmain maybe mining Ethereum but for the gpu miners there are a lot of other coins which are based on Ethereum like Pirl, Music and a few others. Their difficulty is relatively low to mine and I am happily mining Musicoin because my 3GB Gpus cannot write the dag epoch 179 which is the actual one.

As for bitmain first thing to do if you want to fight them is to stop buying their products, but this will never happen since they produce the best miners for the moment.

As for bitmain first thing to do if you want to fight them is to stop buying their products

This +1

Hello, you can continue dreaming, bitmain new eth miner was sold out in few hours if not few minutes.

Bitmain typical batch size is only around 3000 for most of their miners though.
3000 isn't going to even make a NOTICEABLE dent in the recent "slow drop" of Ethereum network hashrate, especially when they don't arrive for over 2 months.

Also, they are NOT sold out on the E3, the "one click buy" button is still active.

[lunobird]

This is what happens when you folks allowed the bitmain asic  sia miner to come out and play.  You and the Sia Devs allowed bitmain to rule. So quit crying you asked for it and now you will have to face the consequences of your poor actions.

[Goool]

Is it so hard for one Developer to make a mining program that will recognize if you use GPU or ASIC and if you use ASIC to reject all the shares ?

[mirny]

Everybody know this for a long time.
So don't buy their "products", don't use their pool, just ignore them.

[ciciteng]

Hidden mining = BITMAIN

I told you that BITMAIN Is mining ETH and now that they got scared because of ETH fork they get rid of their miners ...

BITMAIN is doing dirty business .... people should damp bitcoin cash to give them a lesson .... bitmain's coin !

Really agree. Jihan and his Bitmain is just sick greedy people.
Do you believe that they only have ETHASH ASIC miner at 180 MH/s? I bet they have more powerful than that under their wraps. This just a trojan horse to cover their greediness.
There are should be a movement against Sick Jihan and Bitmain!

[pujumba]

A lot of new coins like Electroneum are catching onto this and purposely making their mining algorithms asic-resistant. Ultimately it will prevent major centralization in the long run. Right now, neither Bitcoin or ETH is ready to prevent that from happening.

[QuintLeo]

Is it so hard for one Developer to make a mining program that will recognize if you use GPU or ASIC and if you use ASIC to reject all the shares ?

There is no way they could do so that an ASIC designer couldn't match the applicable data submitted through careful design work.

[B1tUnl0ck3r]

Hidden mining = BITMAIN

I told you that BITMAIN Is mining ETH and now that they got scared because of ETH fork they get rid of their miners ...

BITMAIN is doing dirty business .... people should damp bitcoin cash to give them a lesson .... bitmain's coin !

as plaoc operative their missions is to try to kill all cryptos to try to close all financials gateway out of china... can they succeed? lol.... hehehe. we will soon have more chains that they have man power .

[Za1n]

Keep in mind that Bitmain now makes as much money annually as does Nvidia. https://www.cnbc.com/2018/02/23/secretive-chinese-bitcoin-mining-company-may-have-made-as-much-money-as-nvidia-last-year.html

With an annual profit of between $3 to $4 Billion dollars, it is not hard to imagine that in an alternate universe such a company might just send off some "donations" to key developers for the several coins they make hardware for mining, thus keeping any proactive changes to stop them at a minimum.

Now before anyone gets all riled up, note that I said in a hypothetical alternate universe and I am not accusing anyone of anything. I am sure in our universe things are not that way and everyone is open and honest about their intentions. It wouldn't really be bribery anyway, just more a form of lobbying for their preferences as to which direction the coin goes.

[jstefanop]

Gpu mining cannot be killed that easily. Bitmain maybe mining Ethereum but for the gpu miners there are a lot of other coins which are based on Ethereum like Pirl, Music and a few others. Their difficulty is relatively low to mine and I am happily mining Musicoin because my 3GB Gpus cannot write the dag epoch 179 which is the actual one.

As for bitmain first thing to do if you want to fight them is to stop buying their products, but this will never happen since they produce the best miners for the moment.

As for bitmain first thing to do if you want to fight them is to stop buying their products

This +1

Lol good luck with that...see the main problem with bitmain is not bitmain itself, its that everyone else in crypto is not here for the tech and what it means for society, but are just as greedy if not more than bitmain.

You tell me if you buy their ASICs or not when the one guy next you is making 100 bucks a day because he did.

[B1tUnl0ck3r]

Keep in mind that Bitmain now makes as much money annually as does Nvidia. https://www.cnbc.com/2018/02/23/secretive-chinese-bitcoin-mining-company-may-have-made-as-much-money-as-nvidia-last-year.html

With an annual profit of between $3 to $4 Billion dollars, it is not hard to imagine that in an alternate universe such a company might just send off some "donations" to key developers for the several coins they make hardware for mining, thus keeping any proactive changes to stop them at a minimum.

Now before anyone gets all riled up, note that I said in a hypothetical alternate universe and I am not accusing anyone of anything. I am sure in our universe things are not that way and everyone is open and honest about their intentions. It wouldn't really be bribery anyway, just more a form of lobbying for their preferences as to which direction the coin goes.

without food and oil their little paper profits will not be eatable... and when the masses of china raise from unemployement, lack of food and shortage of oil... omg... it's gonna be an intense fireworks...

[QuintLeo]

Keep in mind that Bitmain now makes as much money annually as does Nvidia. https://www.cnbc.com/2018/02/23/secretive-chinese-bitcoin-mining-company-may-have-made-as-much-money-as-nvidia-last-year.html

With an annual profit of between $3 to $4 Billion dollars, it is not hard to imagine that in an alternate universe such a company might just send off some "donations" to key developers for the several coins they make hardware for mining, thus keeping any proactive changes to stop them at a minimum.

Now before anyone gets all riled up, note that I said in a hypothetical alternate universe and I am not accusing anyone of anything. I am sure in our universe things are not that way and everyone is open and honest about their intentions. It wouldn't really be bribery anyway, just more a form of lobbying for their preferences as to which direction the coin goes.

Even CNBC - which is NOT known for it's high-quality fact checking - presented that as a RUMOR, not as fact.

Known sales figures out of Bitmain make it plausable they might have managed a few billion in SALES in 2017, but even with their margins it's doubtful they had more PROFIT than Nvidia had (on MUCH higher sales).

They've also made mistakes - their Cryptonite miner will be DEAD IN THE WATER for the most part before they start delivering it (Monero has ALREADY forked to kill it, ETN has announced they'll be forking SOON for the same reason and probably will use the code and algorithm Monero moved to, there goes 90% of the current CN hashrate between those two leaving almost NO market for a CN miner at all even if NONE of the other CN coins change algorithm).
Their E3 is not looking too impressive either, though they probably will manage to sell some of them at the price they set on it.
Their SIA and X11 miners have overflooded the small markets to the point I doubt Bitmain could GIVE more of them away - and past the first batch on each I suspect they are going to end up LOSING MONEY to move the remaining production of both of those.

The biggest reason Bitmain still sells is that every other miner makers makes it an active PAIN for folks other than HUGE FARMS to buy their products, even where they ARE superior (A4, A5) or comparable (841, L21, others).

[ThugB33]

Even CNBC - which is NOT known for it's high-quality fact checking - presented that as a RUMOR, not as fact.

Known sales figures out of Bitmain make it plausable they might have managed a few billion in SALES in 2017, but even with their margins it's doubtful they had more PROFIT than Nvidia had (on MUCH higher sales).

They've also made mistakes - their Cryptonite miner will be DEAD IN THE WATER for the most part before they start delivering it (Monero has ALREADY forked to kill it, ETN has announced they'll be forking SOON for the same reason and probably will use the code and algorithm Monero moved to, there goes 90% of the current CN hashrate between those two leaving almost NO market for a CN miner at all even if NONE of the other CN coins change algorithm).
Their E3 is not looking too impressive either, though they probably will manage to sell some of them at the price they set on it.
Their SIA and X11 miners have overflooded the small markets to the point I doubt Bitmain could GIVE more of them away - and past the first batch on each I suspect they are going to end up LOSING MONEY to move the remaining production of both of those.

The biggest reason Bitmain still sells is that every other miner makers makes it an active PAIN for folks other than HUGE FARMS to buy their products, even where they ARE superior (A4, A5) or comparable (841, L21, others).

ETH will not fork...