My stance on Ethereum, ProgPoW, and the ASIC Question.

[Xazax310]

Hello all,

This is purely a reach out to the GPU community as a whole and my own personal experience and opinions.

https://medium.com/@infantry1337/my-stance-on-ethereum-progpow-and-the-asic-question-99310d192fb4?source=friends_link&sk=caa693854579225fa90b5e98faa3d77f

[Grim]

ProgPOW ensures to be one of the fairer distribution methods possible because of the effectiveness of readily available consumer products/hardware.
ASICs will still be made for ProgPOW but the consumer hardware already is application specific in this case.
So ProgPOW will ensure that ASICs and consumer products are at a very close level. (within +/- 10%)


The questions are:

Is a fair distribution during the distribution phase of a potentially World Currency desirable?

And can the very high availability of consumer products help in this aspect?



And last but not least: Is POS in peoples opinion an even fairer distribution model?  

[imjustaminer]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

[Grim]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

It also is the most unfair distribution possible. 

[imjustaminer]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

It also is the most unfair distribution possible. 

Nothing will ever be fair. People with the most money will win. Every time.

[Grim]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

It also is the most unfair distribution possible. 

Nothing will ever be fair. People with the most money will win. Every time.

And that is why we should make it even easier for them?

[VoskCoin]

Hello all,

This is purely a reach out to the GPU community as a whole and my own personal experience and opinions.

https://medium.com/@infantry1337/my-stance-on-ethereum-progpow-and-the-asic-question-99310d192fb4?source=friends_link&sk=caa693854579225fa90b5e98faa3d77f

Awesome write-up Ted, maybe quote one paragraph and post a picture into this thread? Sadly a lot of people will respond here without even reading your article lol & you're a great writer.

[mu_enrico]

Awesome write-up Ted, maybe quote one paragraph and post a picture into this thread? Sadly a lot of people will respond here without even reading your article lol & you're a great writer.

Hey VoskCoin, I've watched a lot of your videos in 2017-2018
Sadly.. mining isn't profitable for small-time miners in recent years.

Anyway, ProgPow seems favored Nvidia GPU, and what the point anyway since ETH will move to PoS? I'll be more interested in PoW alts using ProgPow.

[VoskCoin]

Awesome write-up Ted, maybe quote one paragraph and post a picture into this thread? Sadly a lot of people will respond here without even reading your article lol & you're a great writer.

Hey VoskCoin, I've watched a lot of your videos in 2017-2018
Sadly.. mining isn't profitable for small-time miners in recent years.

Anyway, ProgPow seems favored Nvidia GPU, and what the point anyway since ETH will move to PoS? I'll be more interested in PoW alts using ProgPow.

thanks for watching my videos then (I still make videos btw lol )

ProgPoW can be adjusted to favor Nvidia, or AMD, or attempt to find a middle ground. Recently though Nvidia cards have just kind of been.. better cards, the new 5700 helped shake that up some, but just look at how many nvidia GPU releases over the last year vs AMD

ETH isn't as close to PoS as they want to be / as many people want to believe they are. & even then they'll move to some sort of hybrid pow/pos setup for awhile

[imjustaminer]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

It also is the most unfair distribution possible.  

Nothing will ever be fair. People with the most money will win. Every time.

And that is why we should make it even easier for them?

That really has nothing to do with it. Nothing in life is fair. We can dream, but the rich will get richer, and the poor will get poorer. The rich will just buy more GPU then the lesser people, create insane prices for the little guy, and we will get a repeat of 500 dollar 1070s, Plus you could barely find GPUs anywhere. Nvidia and AMD will hardly keep up. until we all get rid of currency all together like star trek, or we dont need any kind of investment, then it will be the only time it can actually be fair. Which will never happen.

[adaseb]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

It also is the most unfair distribution possible.  

Nothing will ever be fair. People with the most money will win. Every time.

And that is why we should make it even easier for them?

That really has nothing to do with it. Nothing in life is fair. We can dream, but the rich will get richer, and the poor will get poorer. The rich will just buy more GPU then the lesser people, create insane prices for the little guy, and we will get a repeat of 500 dollar 1070s, Plus you could barely find GPUs anywhere. Nvidia and AMD will hardly keep up. until we all get rid of currency all together like star trek, or we dont need any kind of investment, then it will be the only time it can actually be fair. Which will never happen.

I don't think it was the rich who bought out all the GPUs which ended up with people having to pay over $1000 for a 1080Ti. The reason the GPUs were sold out because mining was very profitable and many miners got involved and there was a huge demand and not enough supply. Due to the fabrication process there is a limit on how many GPUs can be manufactured. Hence why there was a premium for many of them.

I remember the 1080Ti were pulling like $10-15 a day back in Q1 2018 and with a price of $1000 it only had a 60 day ROI, but since it could be resold it had a ROI of maybe 15 days or so. So people figured it was worth the risk to overpay. Nobody knew that weeks later the markets would start to turn and crash. Same thing happened back in early 2014. And most likely will happen again in the future.

[imjustaminer]

I would assume PoS would be best just for the simple fact it cuts out the huge electricity costs. At least, thats why i love it so much. It can be used by more people. It also does well in keeping nets stable.

It also is the most unfair distribution possible.  

Nothing will ever be fair. People with the most money will win. Every time.

And that is why we should make it even easier for them?

That really has nothing to do with it. Nothing in life is fair. We can dream, but the rich will get richer, and the poor will get poorer. The rich will just buy more GPU then the lesser people, create insane prices for the little guy, and we will get a repeat of 500 dollar 1070s, Plus you could barely find GPUs anywhere. Nvidia and AMD will hardly keep up. until we all get rid of currency all together like star trek, or we dont need any kind of investment, then it will be the only time it can actually be fair. Which will never happen.

I don't think it was the rich who bought out all the GPUs which ended up with people having to pay over $1000 for a 1080Ti. The reason the GPUs were sold out because mining was very profitable and many miners got involved and there was a huge demand and not enough supply. Due to the fabrication process there is a limit on how many GPUs can be manufactured. Hence why there was a premium for many of them.

I remember the 1080Ti were pulling like $10-15 a day back in Q1 2018 and with a price of $1000 it only had a 60 day ROI, but since it could be resold it had a ROI of maybe 15 days or so. So people figured it was worth the risk to overpay. Nobody knew that weeks later the markets would start to turn and crash. Same thing happened back in early 2014. And most likely will happen again in the future.

With all due respect, you need money to dump 1k on GPUs. Thats not something the average joe can do. Everything you said aligns with mine. People with money bought what they could. People who didnt have money got shafted. Which is exactly my point.