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Author Topic: Wake up people and dont buy asics  (Read 654 times)
Turkish88
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April 10, 2018, 09:44:49 AM
 #21

On the last days we are witnessed a real speculative movements by developers
Buterin cancel fork and bitmain double price of his asics
Bitmain could not agree with monero dev's and i am respect him

Help to Ukrainian citizens
ETH donations adress - 0xe23CB47AC32F0b8750d4D0Dd4e160Fa6F8fF30EF
CapBtC
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April 10, 2018, 09:49:10 AM
 #22

We can not wake the people up if they still want to sleep. It is people's choice.
maXonja
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April 10, 2018, 09:53:42 AM
 #23

Well, sooner or later they will wake up but it's going to be the harder way, when they loose money
DigitalCruncher
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April 10, 2018, 10:07:50 AM
 #24

What coins are ASIC-Resistant?

Vertcoin
Grosetlcoin
BiblePay

Their POW functions are not ASIC resistant. No such algorihm exists yet (at  all).

Good algorithm should require the high bandwith between GPU and host CPU, and should have high memory requirements both at GPU and CPU sides in order to decrease the scalability of rig.

The development team should be asic-resistant, like Monero.
yugyug
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April 10, 2018, 10:12:30 AM
 #25

The problem is not the people who buy asics, the problem is developers who allow asics.
It is a battle between the software developer for coins and a hardware developer for asic. Asic developers know how to figure it out the security explots of the coins and making asic miner more effecient but lesser to an average joe gpu miners. It creates an unfair level of playing field but that is the nature of free market trade. It is all depends on how to capture the market and make more sales for asics. It is time for a better watchdog for software developer.
hummer113
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April 10, 2018, 10:19:46 AM
 #26

On the last days we are witnessed a real speculative movements by developers
Buterin cancel fork and bitmain double price of his asics
Bitmain could not agree with monero dev's and i am respect him

Vitalik really cancel the fork ? I missed it. If he does not plan to switch to pos soon, then I will be disappointed in the unicorn.
namelessaaa
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April 11, 2018, 09:18:35 AM
 #27

People who knows what is mining will not buy ASIC, because ASIC can do one thing, and will always have a better ASIC in the future.

But GPU can resell, and can switch to other algorithm.

Any ASIC will be trash in a few year, but GPU won't (at least slower than ASIC).
maydna
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April 11, 2018, 09:23:43 AM
 #28

People who knows what is mining will not buy ASIC, because ASIC can do one thing, and will always have a better ASIC in the future.

But GPU can resell, and can switch to other algorithm.

Any ASIC will be trash in a few year, but GPU won't (at least slower than ASIC).

yes, I give my suggestion to my friends which want to start mining the coin. I tell them to not to buy ASIC because the choices to mining coin are not much depended on the GPU. and like you said, if we don't need that GPU, we can sell it to another gamer or another people which want to buy GPU. with GPU, we can have many coins to be mining and we can move from one coin to another coin beside that, we can build one rig with many GPU and of course, the hashrate will bigger too.

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sigtmerchant
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April 11, 2018, 09:27:41 AM
 #29

What coins are ASIC-Resistant?

Vertcoin
Grosetlcoin
BiblePay

It's not coins, it's algos we're talking about. Nist5 and X16 immediately spring to mind, there are others, too.

sigtmerchant
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April 11, 2018, 10:46:27 AM
 #30

Chill guys, he's just "silently" promoting his shitcoin biblepay by adding another two shitcoins on his list.
Take a look at his post history, it's filled with copy-pasted: BiblePay (BBP) posts.

Not sure if copy-pasting your own post is against the rules but sure, seeing Biblepay in every thread is annoying.

You're right about his "quiet" promo, but other people read this thread too and I think it's important to help them understand what we're talking about.

PS Yahoo has his own signature campaign? How cute Smiley

Coffee135
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April 11, 2018, 11:10:02 AM
 #31

On the last days we are witnessed a real speculative movements by developers
Buterin cancel fork and bitmain double price of his asics
Bitmain could not agree with monero dev's and i am respect him

Vitalik really cancel the fork ? I missed it. If he does not plan to switch to pos soon, then I will be disappointed in the unicorn.
There will be no forks for Ethereum. Vitalik didn't cancel anything. He spoke that until the end of this year completely will pass to POS. He's not interested in the coin. He has very different tasks. All who now buy asics for Ethereum does not earn the money that was spent on the purchase of equipment.
Jr.
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April 11, 2018, 12:00:35 PM
 #32

It's only natural for older version of the ASICS to get slower because developer develops more faster and incredibly new aspect for this equipment.

So if you have older versions, then buying coins at the same time is a good choice too, since your hash rate will become weaker when I'm goes by.

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dutchlincoln
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April 11, 2018, 12:20:12 PM
 #33

yeah guys...

Pitty that BTC isnt asic proof, right?
If it was, we definately would have had a bigger coin eind 2017 right?
Stupid asic buyers... Sad


Boohoohoo... Huh
fanatic26
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April 11, 2018, 04:09:19 PM
 #34

Bitmain is not just selling the asic miners for the non asic resistant coins they are also mining at the same time the non asic resistant coin with the hardware much more stronger then what they are selling at the market, these way they profit from the coin twice by mining it and by selling hardware to people who want to buy it. By doing so they can manipulate the prices of the coin itself by adding their super powerfoul hardware to mine coin whenever there is a price jump of the coin and they can manipulate the prices of their hardware , they will keep the stronger hardware to themselfs and they will release weaker hardware to masses, and that way they will always be able to release new stronger asics for the specified coin and making the older asics ussles, and people will have to buy the new stronger asic miners or fall behind. These all cant be done with gpu-s mining. In gpu mining new more powerfoul hardware is coming slowly and they cant replace your weaker gpu that easily. That is if gpu-s ever become profiteable again.

Yet another person talking out their ass about Bitmain when they have no proof of anything. Bitmain makes BILLIONS selling hardware, developing some secret custom hardware just to mine some shitty altcoins is so beyong a waste of time for them I cant believe you would even mention it.

Stop buying industrial miners, running them at home, and then complaining about the noise.
lunobird
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April 11, 2018, 04:17:32 PM
 #35

All of you are hyprocritres. You say don't buy asics yet you buy asic coins like btc/ltc.

Shame on you

practicaltexan
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April 11, 2018, 04:31:08 PM
 #36

I have noticed owning both ASIC and GPU rigs that the GPU tend to hold their own in terms of profitability per day whereas the ASIC's tend to only go down. 

The ASIC's are super easy to set up and i haven't had to troubleshoot them at all in months where there was a big learning curve for GPU's and a lot of troubleshooting. 
From only that perspective, the ASIC's can be easy for individuals to set up and run in a corner of their house. 

However, the centralization of ASIC's is frustrating because when the difficulty rises from a new operation going live profitability is affected greatly in a short amount of time. 

I have been mining ETH solo and the time frame hasn't really changed much with the difficulty.    Mining LTC has gotten much more difficult over the past few months to where only with a massive price increase would it be profitable to buy another one and be ROI by the end of the year. 

ASIC's have their place, however bitmain is something akin to amazon.  While it is super easy to shop and watch and sell and read and etc. on amazon.   What are the future setbacks that havent been considered. 

Bitmain has the market cornered and if I were them I would be doing the same thing.  That's called business and they have the cash flow to do what they want. 

However, what are their implications for the space in the future.   They are out-competing competitors  (Obelisk is one)

I don't have any answers to this, but it isn't about GPU vs. ASIC.  It is about centralization vs. decentralization. That should be the conversation, which should be balanced. 

The ethics of cryptocurrency need to be considered as well, not just the profitability.

My 2 doge.
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