Is Cryptocurrency Mining Dying? GPU vs ASIC | VoskCoin Crypto Farm | August 2018

[VoskCoin]

Is cryptocurrency mining dying? While cryptocurrency remains in a bear market, the profitability of crypto mining continues to decrease. Bitmain has sold over ten ASIC miners in 2018 and only a few models currently create a profit above one dollar a day factoring the average US electric rate of 12c / kWh.

Today VoskCoin reviews his mining farm and how it has changed dramatically over the course of the last year, just last year with 30,000 sols the VoskCoin mining farm was earning 1 Zcash every 2 days in comparison to today that would take more than 10 days AND ZCASH IS WORTH LESS NOW?!

https://youtu.be/7f8Dx2UaIvY


Nvidia GTX 1080 TI remains a top mining GPU - http://geni.us/jVL9Y
AMD Rx570 continue to be a top mining GPU - http://geni.us/f3Sz8

VoskCoin August 2017 30,000 Sol ZEC Mining Farm Update https://youtu.be/wUoSfvNPQiE


Coinbase is planning to add Ethereum Classic - http://bit.ly/2OB6ZOw
Bitmain Antminer L3+ worthless* on eBay - https://ebay.to/2vaM6S1
Bitmain Antminer Official Online Shop - http://bit.ly/2OdEzK8
What To Mine ASIC Mining Profit Calculator - http://bit.ly/2v91yyf

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[adaseb]

Its not dying, its just very unprofitable due to the competition.

Basically its like a double edged sword.

If Bitcoin and other crypos weren't popular then the price would be lower. However since they are popular alot of people discover this "free money" thing called mining and they end up increasing everyones difficulty.

[Marvell2]

Its not dying, its just very unprofitable due to the competition.

Basically its like a double edged sword.

If Bitcoin and other crypos weren't popular then the price would be lower. However since they are popular alot of people discover this "free money" thing called mining and they end up increasing everyones difficulty.

Its not people, there is so much room in crypto for ‘people ‘

its the corporations like bitmain etc that are killing profitablity so harshly, they are also the worst dumpers
of crypto too

[nsummy]

Vosk, you need to familiarize yourself with Bettenridge's Law of Headlines:  https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines

"If the headline asks a question, try answering 'no'. Is This the True Face of Britain's Young? (Sensible reader: No.) Have We Found the Cure for AIDS? (No; or you wouldn't have put the question mark in.) Does This Map Provide the Key for Peace? (Probably not.) A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious or over-sold. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic. To a busy journalist hunting for real information a question mark means 'don't bother reading this bit'."

[whoismoses]

Vosk, you need to familiarize yourself with Bettenridge's Law of Headlines:  https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines

"If the headline asks a question, try answering 'no'. Is This the True Face of Britain's Young? (Sensible reader: No.) Have We Found the Cure for AIDS? (No; or you wouldn't have put the question mark in.) Does This Map Provide the Key for Peace? (Probably not.) A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious or over-sold. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic. To a busy journalist hunting for real information a question mark means 'don't bother reading this bit'."

I get this is a quote as I read through the wikipedia article, thanks for that... But the quote should be changed for modern times.

"If the headline asks a question, try answering 'no'. Is This the True Face of Britain's Young? (Sensible reader: No.) Have We Found the Cure for AIDS? (No; or you wouldn't have put the question mark in.) Does This Map Provide the Key for Peace? (Probably not.) A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious, over-sold or click-bait. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic. To a busy journalist hunting for real information a question mark means 'don't bother reading this bit'."

[percy_tc]

If mining is dying than pow coins are dying also. right?

So no, mining is not dead, not at all.

[VoskCoin]

Vosk, you need to familiarize yourself with Bettenridge's Law of Headlines:  https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines

"If the headline asks a question, try answering 'no'. Is This the True Face of Britain's Young? (Sensible reader: No.) Have We Found the Cure for AIDS? (No; or you wouldn't have put the question mark in.) Does This Map Provide the Key for Peace? (Probably not.) A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious or over-sold. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic. To a busy journalist hunting for real information a question mark means 'don't bother reading this bit'."

life is boring if you live entirely within the constructs that those before you have built  

Vosk, you need to familiarize yourself with Bettenridge's Law of Headlines:  https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines

"If the headline asks a question, try answering 'no'. Is This the True Face of Britain's Young? (Sensible reader: No.) Have We Found the Cure for AIDS? (No; or you wouldn't have put the question mark in.) Does This Map Provide the Key for Peace? (Probably not.) A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious or over-sold. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic. To a busy journalist hunting for real information a question mark means 'don't bother reading this bit'."

I get this is a quote as I read through the wikipedia article, thanks for that... But the quote should be changed for modern times.

"If the headline asks a question, try answering 'no'. Is This the True Face of Britain's Young? (Sensible reader: No.) Have We Found the Cure for AIDS? (No; or you wouldn't have put the question mark in.) Does This Map Provide the Key for Peace? (Probably not.) A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious, over-sold or click-bait. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic. To a busy journalist hunting for real information a question mark means 'don't bother reading this bit'."

What is an alternative title you would have chosen for distribution on the YouTube platform?

[VoskCoin]

If mining is dying than pow coins are dying also. right?

So no, mining is not dead, not at all.

mining is in fact at its current trajectory dying for the "average miner"

Dying does not equal dead

Mining can "die" and coins still survive, whether it is with low electric farms running on very low earnings (while majority others run at a loss)



This video is just my farm update and I share my input on the current state of mining and a story to help illustrate my stance on GPU vs ASIC

[VoskCoin]

Its not dying, its just very unprofitable due to the competition.

Basically its like a double edged sword.

If Bitcoin and other crypos weren't popular then the price would be lower. However since they are popular alot of people discover this "free money" thing called mining and they end up increasing everyones difficulty.

Its not people, there is so much room in crypto for ‘people ‘

its the corporations like bitmain etc that are killing profitablity so harshly, they are also the worst dumpers
of crypto too

Agreed Bitmain, and yet some people still cheer for them. Last year I was a bit naive to this part of crypto / mining --- however it was made painfully clear with the D3 and time+time again with their subsequent releases.

Is it not odd these manufacturers/miners/resellers (because theyre all of those) release similar miners in a similar time frame -- bitmain/innosilicon/asicminerco all dropping equihash ASICs within 2 months of eachother AT LARGE PRODUCTION SCALE

I use the wolf and sheep terminology a lot because I swear so many people are so blind to what is really happening.

[VoskCoin]

Its not dying, its just very unprofitable due to the competition.

Basically its like a double edged sword.

If Bitcoin and other crypos weren't popular then the price would be lower. However since they are popular alot of people discover this "free money" thing called mining and they end up increasing everyones difficulty.

the free money chasers imo are a drop in the bucket compared to the recent build outs of mining farms (fueled by greed) & ASIC producers


To make this clear I don't hate "ASIC MINING" . . simply put all of the current producers are trash -- just analyze Bitmains price gouging tactics, and then they become "good guy bitmain" after their coupon airdrop to just buy more of their junk. . .

Bad players can do bad things with a multitude of mining devices, ASICs and (partially) FPGAs are the weapons of choice -- even GPUs to some extent w/ ops. like Genesis Mining

[CjMapope]

GPU mining is totally dead imo.  the guys happy with 1$ a day for 1080ti have massive farms or cheap power
tech evolution + big money has come in since 2017-2018
everyday users are building million dollar farms, FPGAs+ASIC are everywhere (if you still think ANY algos aren't on FPGAs, they are just being kept quiet AKA profitable)

Evolve, band together, diversify, or die.     if you dont have 50+ cards+diversification in trading/asic+FPGAs, your a hobby miner, mining is for the big boys now : /

PoS is the future, we all got too greedy for PoW to work anymore
and ETH hasent even finished mining! wait till THAT happens :O GPU miners are toast

 

[VoskCoin]

GPU mining is totally dead imo.  the guys happy with 1$ a day for 1080ti have massive farms or cheap power
tech evolution + big money has come in since 2017-2018
everyday users are building million dollar farms, FPGAs+ASIC are everywhere (if you still think ANY algos aren't on FPGAs, they are just being kept quiet AKA profitable)

Evolve, band together, diversify, or die.     if you dont have 50+ cards+diversification in trading/asic+FPGAs, your a hobby miner, mining is for the big boys now : /

PoS is the future, we all got too greedy for PoW to work anymore
and ETH hasent even finished mining! wait till THAT happens :O GPU miners are toast

 

Great to see you cjmapope, also thanks for the merit several times recently

I think ETH PoW -> PoS transition is the elephant in the room no one wants to really think about / talk about . .

I was hoping for the community to come together tighter in this period, however (to me at least) it sort of seems the opposite. Everyone wants and is looking for a savior, but will there be one? The void ETH will leave will be an incredibly massive one to fill . .


How would you save mining?

[CjMapope]

it does seem the opposite ye, everyone just pushing defense up and securing their own selves :/
it seems people are not versed in game theory, they should do some more research
theres no winner to this

i totally agree on eth everyone is so busy either panicking or expanding in w.e they can buy, noone wants to think about ETH : /
we cant save mining, Satoshi spoke of this in the beginning and all he suggested was we all "played nice as long as possible"
well that time is long gone, greed has taken over. now game theory in Nakomoto Consensus comes into play and everyone except a few will be screwed


ProgPoW is nice, but look where it went, nowhere, as theres no $$$ to be made easily there, people would rather focus their energy in things that make $$$ easily in this game

during the non digital gold rush the winners sold shovels, everyone else killed eachother and themselves trying to dig faster and faster .
this time is the same

(your easy to give merit too, as you actually bring info/opinion to this forum )

[Marvell2]

it does seem the opposite ye, everyone just pushing defense up and securing their own selves :/
it seems people are not versed in game theory, they should do some more research
theres no winner to this

i totally agree on eth everyone is so busy either panicking or expanding in w.e they can buy, noone wants to think about ETH : /
we cant save mining, Satoshi spoke of this in the beginning and all he suggested was we all "played nice as long as possible"
well that time is long gone, greed has taken over. now game theory in Nakomoto Consensus comes into play and everyone except a few will be screwed


ProgPoW is nice, but look where it went, nowhere, as theres no $$$ to be made easily there, people would rather focus their energy in things that make $$$ easily in this game

during the non digital gold rush the winners sold shovels, everyone else killed eachother and themselves trying to dig faster and faster .
this time is the same

(your easy to give merit too, as you actually bring info/opinion to this forum )

I still don’t buy all this doom and gloom, yeah its not profitable as it was , thats partly due to the massive pump
we had last year.  Crypto delights in pump and dump cycles , been this way since 2013 , ppl should be immune to it by now.

Before eth came along we were actually in a worse situation, there was nothing to mne at all for gpus , and I mean NOTHING.  when I read thier whitepaper I knew it would be good to mine so I bought sone 280 rigs for thier launch. 

Only mistake I made is selling ether to cover electric costs and build out larger.  Lessons learned...

When eth goes pos , there will be another launch of pump of a gpu only (st least for a while) coin to take its place,
maybe eth clasic or metaverve fork to progressive pow , whatever. 

there are too many gpus out there , too much potential hash power and cryptographic potential our there for grabs for a new or existing player not to tap in to.

Bitmain is the only real threat to this, if they ipo and gain the ability to compete with nivida and amd lord help ua all

[CjMapope]

@marvel

ya i started mining only in 2014 myself, XMR back then+ETH these last few years made it easy, im sure were all just spoiled now

i think we were getting alot of adoption tho with gpu mining as ANYONE could buy a "legal money printer" with as little as 200$, and it could help supplement their life expenses, while they could be a part of something. i really liked it that way. whats mininum to start a mine now? under 0.10 cents US for power and like 20,000$? : /
and now its so much more cutthroat. i think theirs no denying that the COMMUNITY we had in bitcoin has changed : / specially even the mining board itself
people used to WANT to help eachother, NOW its suggested by people to keep to themselves the best profits for fear of losing them

miners in the trenches silently backstabbing eachother anyway they can, while the prissy guys that cant take the trenches sit on twitter being self proclaimed "experts" to sell garbage to the masses
bitcoin is a mess now,this forum becoming a joke and the GPU mining "community" is dead.  i bet the XMR guys are even feeling it :/

[dagarair]

My thought is this:

2-3 years ago I was making 3 bucks a unit now we are making 5-7$ and people bitch.

Is it harder hell yes, is it less profitable not really.  Especially if you paid for all your stuff already  

The people that jumped on last year and were making 20-45$ a day but paid exorbitant prices are crying but all the old timers have seen it before.  We knew, or should of known, we should be saving that $ because skinny times always come.

The ASIC revolution is stupid but what you gonna do.  

It all boils down to this. If I can put one dollar in a vending machine and it pops out 2 dollars, HELL YES I will sit there all day!  

[serhanni]

Since there are still asic resistant algos available I don't think mining is dying. But profitability is very low in Current market situation. I will try to hodl my mined coins as much as I can.

[Privatoria]

Situation is much better right now than it was in the beginning of 2014. There are a lot of different possibilities to mine having profit and also we have possibility to participate in rendering projects. Profit is not so big right now, but there is a crisis in overall cryptoworld in 2018, that will not be eternal.

[lunobird]

My thought is this:

2-3 years ago I was making 3 bucks a unit now we are making 5-7$ and people bitch.

Is it harder hell yes, is it less profitable not really.  Especially if you paid for all your stuff already  

The people that jumped on last year and were making 20-45$ a day but paid exorbitant prices are crying but all the old timers have seen it before.  We knew, or should of known, we should be saving that $ because skinny times always come.

The ASIC revolution is stupid but what you gonna do.  

It all boils down to this. If I can put one dollar in a vending machine and it pops out 2 dollars, HELL YES I will sit there all day!  

Past performance is not an indicator of future results.  The landscape has change.  Your numbers are all out of wack.  I'm making negative each day after electric cost avg of 28 cents.

Saying we make $5-7 a unit is false.  

Your vending machine analogy is stupid b/c the reality is that you gota spend $2000 for a vending machine that will only pump out $1 dollar a day and will be outdated in 2 years.  That means you lose money .

and and difficulty rises with time so therefore you get rekt even more. Miners are dumb

[huntingthesnark]

Yep, miners are dumb. He says on an alt mining board. Anyway, go check out other investments, find me one that rois in c. 12 months. Ain't so easy.