SONM? Will this change the world of GPU mining?

[RNguyen]

Hey guys!

I came across this project called "SONM". Apparently they are building a marketplace to buy and sell computing power. It combines real world tasks such as rendering, machine learning and scientific calculations with cryptocurrency mining. The idea is that you rent out your rig for these tasks and when idle it will mine the most profitable cryptocurrencies, which is supposed to make it more profitable than mining is now.

Check out the presentation of them at the past Consensus in New York: https://www.youtube.com/watch?v=lwGAmwxpQoc

This project is going live in 2 weeks. Thought it is worthwhile sharing.

Have a good day guys!




@mods/admin , if this topic fits better under "Mining software (miners)", feel free to move it.

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[cryptotore]

SONM is awesome!

My goal is to become a level 4 supplier.

Instead of waiting for livenet I would suggest you try it in testnet, Crypto mining IaaS is ready for testing.

Join https://t.me/SONMbetatest for more information!

[RNguyen]

SONM is awesome!

My goal is to become a level 4 supplier.

Instead of waiting for livenet I would suggest you try it in testnet, Crypto mining IaaS is ready for testing.

Join https://t.me/SONMbetatest for more information!

Thx! Will do

[panzer88]

Every miner who is not even looking, what SNM is doing and what is going to release in 2 weeks is literally putting money on fire.
They said it everytime:You are guarenteed profit atleast the same with the most profitable coin to mine at the moment and your hardware also has zero idle time just ordinary minning.
You dont have to go to the hassle to constantly jumping from coin to coin, looking what is most profitable, you dont have to change algorithm,setups,dont have to install different miners,etc.
And that is if on the market there are 0 jobs from companies who are going to use the resources.
When the jobs start rolling and the companies start mass using the platform ,thing that will happen cause prices are times cheaper than the established cloud providers,
than miners will get more money than the most profitable coin to mine at the moment.
If the team delivers what they are promising is a win win situation for the miners.

[dragonmike]

Every miner who is not even looking, what SNM is doing and what is going to release in 2 weeks is literally putting money on fire.
They said it everytime:You are guarenteed profit atleast the same with the most profitable coin to mine at the moment and your hardware also has zero idle time just ordinary minning.
You dont have to go to the hassle to constantly jumping from coin to coin, looking what is most profitable, you dont have to change algorithm,setups,dont have to install different miners,etc.
And that is if on the market there are 0 jobs from companies who are going to use the resources.
When the jobs start rolling and the companies start mass using the platform ,thing that will happen cause prices are times cheaper than the established cloud providers,
than miners will get more money than the most profitable coin to mine at the moment.
If the team delivers what they are promising is a win win situation for the miners.

...except if Nicehash does the same and use their competitive advantage.
It's a nice idea from the SONM guys, but imo very easy to clone.
We shall see.

[panzer88]

Every miner who is not even looking, what SNM is doing and what is going to release in 2 weeks is literally putting money on fire.
They said it everytime:You are guarenteed profit atleast the same with the most profitable coin to mine at the moment and your hardware also has zero idle time just ordinary minning.
You dont have to go to the hassle to constantly jumping from coin to coin, looking what is most profitable, you dont have to change algorithm,setups,dont have to install different miners,etc.
And that is if on the market there are 0 jobs from companies who are going to use the resources.
When the jobs start rolling and the companies start mass using the platform ,thing that will happen cause prices are times cheaper than the established cloud providers,
than miners will get more money than the most profitable coin to mine at the moment.
If the team delivers what they are promising is a win win situation for the miners.

...except if Nicehash does the same and use their competitive advantage.
It's a nice idea from the SONM guys, but imo very easy to clone.
We shall see.

About Nicehash i will paste a post from SNM CTO ,that can be found on SNM telegram:

"Nicehash.

Some parts of SONM indeed are similar to what nicehash is doing. In a sense, that we also make a marketplace for computing power. Nicehash is a similar market.
But only similar, not really comparable.

What SONM is doing is one step more universal and abstract:

- Nicehash provides a marketplace only for mining. SONM for any applications, including mining as a simples app.
Everything in Nicehash’s architecture is about that idea. A market for hashrate. System runs prepacked binaries for different algorithms.
SONM can and is designed to run Customer’s applications in a wide sense and we provide all facilities for that.

This point may sound as a “just one difference point”, but the difference behind it are huge. To evolve from just mining binaries to selling universal conputing power, one would have to do a lot of things in their achitecture:
— We provide Docker isolation for apps. Not just binaries.
— We have delivery methods (can deliver Customer’s application, not just run prepacked binaries).
— We have methodology to calculate universal machine resources, not just a hashrate.
…many more points that that are not on the surface, but which we had to work around…

- With SONM you can monetize and rent all your resources: GPU, CPU, RAM, disks and network. Nicehash is only about GPU, probably CPU.

- SONM aims to be decentralized and transparent. As opposed to.

But, however:

- Nicehash is already running.

- Nicehash already has users.

After all, SOMN can utilize supplier’s machine with a MIX of mining and real world applications:
- providinig minimal guaranteed income (with mining)
- dynamically giving resources to real applications according demand
- and, what is important, THIS IS FUTURE PROOF "

[melpheos]

Looks to be a very interesting project.
For computing this will be definitely a great opportunity for researcher to have access to on demand ressource and at a scale they never had access untill now.
The issue might be cost.
How much anyone will be willing to pay/per hour to use your ressources.
I have my doubt for rendering tho as CPU is also use "bigly" for rendering and most mining rigs have a shitty CPU.

[warrior333]

Many projects have tried competing with nicehash but I don't see any success. I like competition. From this always benefits the consumer. But to say that this project will be implemented in advance, I can not. I'll look at the statistics after I start. The profitability of mining on a pool not less than the yield of hashing with nicehash. I see no reason for myself to switch to nicehash.

[Apocalypse Onion]

This is great if the "real world tasks" actually exist.

Everything still in testnet or closed beta.

[melpheos]

Many projects have tried competing with nicehash but I don't see any success. I like competition. From this always benefits the consumer. But to say that this project will be implemented in advance, I can not. I'll look at the statistics after I start. The profitability of mining on a pool not less than the yield of hashing with nicehash. I see no reason for myself to switch to nicehash.

The main question is : is there some demand for such service right now ?

[mirny]

Many projects have tried competing with nicehash but I don't see any success. I like competition. From this always benefits the consumer. But to say that this project will be implemented in advance, I can not. I'll look at the statistics after I start. The profitability of mining on a pool not less than the yield of hashing with nicehash. I see no reason for myself to switch to nicehash.

The main question is : is there some demand for such service right now ?

There is really big demand for resources. And it's getting worse and worse. Because traditional resources are limited.
Really try to google demand for cloud computing, or similar question.
You'll find tons of articles about that.

[mirny]

This is great if the "real world tasks" actually exist.

Everything still in testnet or closed beta.

Not for long, mainnet in 15days.

[CjMapope]

lol here we go again....

it's like you guys forgot theres been like 5 of these projects already, they take ICO money, and give a product  usually, eventually, BUT:
their all the same in the end:  they lack USAGE
Golem is done sure, but lacks DEMAND, i see no difference in SONM. same thing with the Elastic Network : /
would love to be wrong, but it's deja vu.
They will have a TON of sellers, and no buyers, it will be laughable, the next will come along, money will be thrown @ it, rinse and repeat...

[panzer88]

lol here we go again....

it's like you guys forgot theres been like 5 of these projects already, they take ICO money, and give a product  usually, eventually, BUT:
their all the same in the end:  they lack USAGE
Golem is done sure, but lacks DEMAND, i see no difference in SONM. same thing with the Elastic Network : /
would love to be wrong, but it's deja vu.
They will have a TON of sellers, and no buyers, it will be laughable, the next will come along, money will be thrown @ it, rinse and repeat...

There are  big differences between Golem, Elastic and SNM .Golem is currently if i am not mistaken in beta and they support only CPU rendering with Blender, thats it.
And you are right about the part that there would be many suppliers like it is the case with Golem and very little "jobs" so the suppliers get very little money for their resources and
if you look for info most of them end up with less than 50$ a month and just quit doing that.Thats because with Golem you dont monetize your hardware when it is idle.Thats not
the case with SNM,when there are no tasks your hardware will be mining the most profitable coin at the moment and will get paid in SNM tokens .Even with 0 task on the market the suppliers wont be operating in a loss compared to traditional mining.Have in mind that cloud computing market is one of the most increasing with estimates of over 400bln in revenue in 2020.If you care to research about SNM you will find that they promise similar services to the biggest cloud companies at the moment to be times cheaper on SNM.That will sooner or later attract customers.They are not saying that they will overtake AWS, IBM Cloud or Oracle , but just that they can find their place in that huge industry mainly because their prices will be much much cheaper also if they can attract enough miners/farms they can provide huge resources.
Also you talk about :" lack of USAGE"
Can you tell me even 3 crypto projects from the thousands that have already "USAGE" in real world ?
Also we must agree that sooner or later this will change and in the end the projects that really have useful product will deliver that ,cause with more and more of them coming to
their mainnets  we will see which products are really worth it and can deliver and which ones were based so far on just hype,marketing,shilling,McAffee-ing etc....
Im not saying that SNM will do it for sure, but the company is worth looking into .

[vuli1]

the first 2 posts look like sefl promoting...

[brunocrypto]

It's look like this project is fantastic !! The guys in the video is very good. That's a huge project, and pretty simple. It's like Nicehash in a lot better !!!

Maybe it's will be a huge opportunity for us miner, to get extra buck from our hardware !! i will closely look at SONM

[mirny]

For you skeptic people, if you're too lazy to make your research, are have no time for watching last Q&A's
Just take a look at least at this article. It will enlight a bit what is this platform about.
https://www.investinblockchain.com/highlights-sonm-may-2018-qa/

[Mohondoa]

Great project, as far as i read at their blog. I think i'll try it if there have a stable version for windows. Sadly i am not familiar at linux, because at their website always explaining it use linux. When it become to windows's user sir/mam? Or maybe there is but i don't know, can you give me the link?


thank you.

[HansHagberg]

For you skeptic people, if you're too lazy to make your research, are have no time for watching last Q&A's
Just take a look at least at this article. It will enlight a bit what is this platform about.
https://www.investinblockchain.com/highlights-sonm-may-2018-qa/

A quote from the link...

"As far as the team is concerned, SNM’s current or future exchange rate is immaterial. They’re focused on building a marketplace for computing power, not an investment token."

This is exactly what I wanted to see. This tells us this project aims to produce wealth through actual use and is not just another pump & dump investment scheme.

[grendel25]

the first 2 posts look like sefl promoting...

Nothing really wrong with that.  This is a great way to get the word out and it helps to see people of various btc-talk seniority having an interest in contributing.

I'm skeptical at this point but as far as the OP subject, "Will this change the world of GPU mining?"  Well... A lot of things already are on tap to change the world of GPU mining.  M.2 slots acceleration is the first thing that comes to mind.  Dwarf FPGA, although not a GPU miner could bring interest from GPU miners as well.

Now an iaas platform that is friendly to mining???  Sounds VERY interesting but also begs the same questions.  you know what I'm talking about "if it's profitable why don't they just mine for themselves?"  Otherwise they are just talking about giving away free money.  this will make a lot of people scratch their heads.  But hey, if there's a website I can pay to log into, start mining and profit instantly... they will have millions of customers lining up for the free money.

At that point, it's not just GPU mining that will change.  It is ALL mining.  Less demand on various hardware vendors.  More centralization... total turn away from Satoshi vision