# New mining ASIC for Ethereum is as fast as 32 RTX 3080s



## P4-630 (Apr 25, 2021)

> This Ethereum-enabled asic-miner must deliver a hash power of 3 gigahash (3,000 megahash) per second.
> That should be equal to 32 GeForce RTX 3080s, which, according to an earlier test with optimized graphics cards, delivers about 94 megahash per second.
> It has been known for some time that ASICs are often more suitable than video cards, but the Antminer E9 is faster than the Linzhi Phoenix miner,
> which does 2600 megahash per second and costs a hefty 11,300 to 13,700 dollars.





> In addition, the miner is relatively economical. It consumes a maximum of 2,556 watts, which is good for an energy efficiency of 0.85 J / m.
> The Phoenix miner consumes 3,000 watts, and 32 RTX 3080s consume approximately 7,500 watts




















						BITMAIN
					

BITMAIN， Beijing, China. 4.6 万次赞. BITMAIN is the world's foremost producer of ASIC bitcoin mining hardware. We offer both consumer and enterprise solutions for every level of miner.




					www.bitmain.com
				




This is the stuff you need to mine.


----------



## Khonjel (Apr 25, 2021)

Isn't it common knowledge in thw mining scene that these companies release the mining ASICs only after mining on it becomes/assumed to become unprofitable?


----------



## Betty (Kung Pow) (Apr 25, 2021)

Khonjel said:


> Isn't it common knowledge in thw mining scene that these companies release the mining ASICs only after mining on it becomes/assumed to become unprofitable?



With that mindset, why would AMD or Nvidia sell any of their own cards? 

Probably more money in building a brand and getting investment money than you get for a volatile currency


----------



## Space Lynx (Apr 25, 2021)

P4-630 said:


> BITMAIN
> 
> 
> BITMAIN， Beijing, China. 4.6 万次赞. BITMAIN is the world's foremost producer of ASIC bitcoin mining hardware. We offer both consumer and enterprise solutions for every level of miner.
> ...



@trog100 @ZenZimZaliben 

Dogecoin to the moon boys!!!!


----------



## nguyen (Apr 25, 2021)

sweet, let hope they are not made on TSMC 5 or 7nm and competing for fab capacity.


----------



## lexluthermiester (Apr 25, 2021)

Yeah, miners NEED to buy this kind of hardware instead of GPUs...


----------



## Khonjel (Apr 25, 2021)

Betty (Kung Pow) said:


> With that mindset, why would AMD or Nvidia sell any of their own cards?
> 
> Probably more money in building a brand and getting investment money than you get for a volatile currency


I meant GPU vs ASIC. My guess is sensible miners almost always buy GPU since it can be resold and hold their value, despite the energy costs. OTOH my understanding from the discussions is that ASICs get released only after the companies themselves have used it for months if not years. Then when they see the writing on the wall that their ASICs will get unprofitable in the upcoming version or fork of the crypto, they miraculously "announce" their ASICs for selling (read offload to some naive chums). After those chums buy these ASICs, inevitably the coin gets unprofitable to mine on those machines and since there's no resale value in useless junk, the ASICs become e-waste.

This is a good read on the matter. I read it when researching mining and had a great laugh. Mining crash can't come fast enough imo.


----------



## TheoneandonlyMrK (Apr 25, 2021)

Nice, good news ,it will take time still but it's a start.


----------



## phanbuey (Apr 25, 2021)

Yeah it's only a matter of time -- these are going to come back, video card stocks will go back to normal, until the crash then we rinse and repeat.

Definitely going to throw some FOMO money at it when it crashes I don't think we are done with these cycles until the government(s) step in.


----------



## R0H1T (Apr 25, 2021)

phanbuey said:


> Yeah it's only a matter of time -- these are going to come back, video card stocks will go *back to normal, until the crash then we rinse and repeat.*


Well you just wrote the entire history of human civilization evolution


----------



## phanbuey (Apr 25, 2021)

R0H1T said:


> Well you just wrote the entire history of human civilization evolution



Sometimes it's fun.


----------



## Hardcore Games (Apr 26, 2021)

BITMAIN ANTMINER E9
					

Bitmain has announced their new Antminer E9. This ASIC unit is designed for Ethereum mining and it is estimated to be able to deliver 3 GH/s while using only 2.56 kW of power. That gives this unit the performance of approximately 25 RTX 3090 cards for a lot less capital outlay. The E9 is made ...




					www.hardcoregames.ca
				




Somebody I know in Vietnam told me about this


----------



## R-T-B (Apr 26, 2021)

lexluthermiester said:


> Yeah, miners NEED to buy this kind of hardware instead of GPUs...


Wouldn't solve the energy crisis one bit, but it would solve the stocking crisis at least.

Sadly, coins keep coming out intentionally targeting GPUs.  Bitcoin has been asic only for years now and that hasn't stopped anyone.

Personally, I'll never mine with ASICs again.  Too serious for me, I can't really believe I'm running one GPU right now honestly.


----------



## lexluthermiester (Apr 26, 2021)

What would solve problems is the banning of cryptocoin altogether. It is disrupting everything and needs to be put to a swift end by the governments of the world.


----------



## MentalAcetylide (Apr 27, 2021)

lexluthermiester said:


> What would solve problems is the banning of cryptocoin altogether. It is disrupting everything and needs to be put to a swift end by the governments of the world.


I really don't see how they could "ban" it. As I've said before, all they need to do is regulate it and the crapto-currency will crash since a lot of the criminal element will be removed. The only reason I can think of for such currency to exist would be for individuals to hide monetary transactions involving crime(s).


----------



## R-T-B (Apr 27, 2021)

lexluthermiester said:


> What would solve problems is the banning of cryptocoin altogether.


What good is a law you can't enforce?  I have a feeling you don't like the idea of auditing energy bills, home inspections if they get too high, and the fact that China already tried this and it completely failed even in their totalitarian environment.

Which means yes, to enforce such a bill, we'd literally need to be more invasive than China.  Can I get a "gg" guys?

Such a bill if it ever passed, would be useless and toothless in enforcement.  It would solve nothing.



MentalAcetylide said:


> since a lot of the criminal element will be removed


I really don't feel criminal has been a major element for some time, and recent studies have been pointing that way too.

Most of the recent movement has been big banks and companies buying in large scale to facilitate their own sort of projects, probably digital currency type of something somethings if I had to guess.  There's a lot of chatter about "stablecoins."  This has absolutely nothing and null to do with the criminal underworld.



MentalAcetylide said:


> The only reason I can think of for such currency to exist would be for individuals to hide monetary transactions involving crime(s).


I can think of a lot of reasons digital currency is useful beyond that.


----------



## trog100 (Apr 27, 2021)

there are lots of bad things said about crypto.. some people believe the bad things and spread them simply because they are anti crypto.. 

then we have the coiners and no coiners.. both side spout their own cause.. 

trog


----------



## lexluthermiester (Apr 27, 2021)

R-T-B said:


> What good is a law you can't enforce? I have a feeling you don't like the idea of auditing energy bills, home inspections if they get too high, and the fact that China already tried this and it completely failed even in their totalitarian environment.


Nah, it's easy, all the data would be in the taxes and the bank transfers.... Hiding that becomes a form of money laundering, which would be another crime. Yes, banning it all would be the best solution.



MentalAcetylide said:


> As I've said before, all they need to do is regulate it and the crapto-currency will crash since a lot of the criminal element will be removed.


The US government has the sole discretion to allow or disallow any non-regulated currency or sudo-currency. Other governments have similar authorities I'm sure.


----------



## DeathtoGnomes (Apr 27, 2021)

P4-630 said:


> This is the stuff you need to mine.


Sure when you start buying these for everyone here.


----------



## R-T-B (Apr 27, 2021)

lexluthermiester said:


> Nah, it's easy, all the data would be in the taxes and the bank transfers....


That only works with a global ban, which we are well beyond happening at this point.  Again, can't be done.

Plus even in that fantasy scenario, it does not stop person to person sales for cash, which do happen.


----------



## DeathtoGnomes (Apr 27, 2021)

lexluthermiester said:


> Yes, banning it all would be the best solution.


I disagree. applying the same rules as they do to all other financial institutions would mean places like Coinbase would have to pay taxes and file reports and such.


----------



## R-T-B (Apr 27, 2021)

DeathtoGnomes said:


> I disagree. applying the same rules as they do to all other financial institutions would mean places like Coinbase would have to pay taxes and file reports and such.


Technically they'd be forced to report, and the users pay taxes.  And yes this is the right approach.


----------



## lexluthermiester (Apr 27, 2021)

DeathtoGnomes said:


> I disagree. applying the same rules as they do to all other financial institutions would mean places like Coinbase would have to pay taxes and file reports and such.


Good point, but to force it to be abandoned would require very high taxation. That might work as well.


----------



## thesmokingman (Apr 27, 2021)

lexluthermiester said:


> What would solve problems is the banning of cryptocoin altogether. It is disrupting everything and needs to be put to a swift end by the governments of the world.


Whenever the gubments finally tax btc will be its end.


----------



## R-T-B (Apr 27, 2021)

lexluthermiester said:


> Good point, but to force it to be abandoned would require very high taxation. That might work as well.


I don't think it'd take much more than what they already officially apply.  It's treated as capital gains.


----------



## lexluthermiester (Apr 27, 2021)

R-T-B said:


> I don't think it'd take much more than what they already officially apply.  It's treated as capital gains.


40% capital gains would work!


----------



## MentalAcetylide (Apr 27, 2021)

R-T-B said:


> What good is a law you can't enforce?  I have a feeling you don't like the idea of auditing energy bills, home inspections if they get too high, and the fact that China already tried this and it completely failed even in their totalitarian environment.
> 
> Which means yes, to enforce such a bill, we'd literally need to be more invasive than China.  Can I get a "gg" guys?
> 
> ...



It seems that way because they cracked down on the big money laundering & tax evasion rings making it more "involved" to use it as an untraceable route for criminal transactions. As a result, you don't hear about it as much. Altcoins, Tor, dark web, etc., still make it possible to remain inconspicuous and be able to move large amounts of $$(albeit, not in large chunks at a time). 

Yeah, I can think of a few important reasons for it being useful & even superior to fiat currencies: its scarce being that it has a finite limit, highly divisible, and near impossible(at present) to counterfeit. Nevertheless, history has shown that whenever lots of money is involved in conjunction with a lack of regulation/oversight, lots of individuals & institutions get burned.


----------



## DeathtoGnomes (Apr 28, 2021)

lexluthermiester said:


> 40% capital gains would work!


its the same as any other gains tax  I think


----------



## R-T-B (Apr 28, 2021)

MentalAcetylide said:


> It seems that way because they cracked down on the big money laundering & tax evasion rings making it more "involved" to use it as an untraceable route for criminal transactions. As a result, you don't hear about it as much. Altcoins, Tor, dark web, etc., still make it possible to remain inconspicuous and be able to move large amounts of $$(albeit, not in large chunks at a time).


I never said there was none but I an finding the idea that it is a "high percentage" fairly dubious.



DeathtoGnomes said:


> its the same as any other gains tax  I think


At the moment it's treated like any capital gain yes.


----------



## lexluthermiester (Apr 28, 2021)

R-T-B said:


> At the moment it's treated like any capital gain yes.


I don't think so. Individuals who mine can claim earnings under a standard 1099c as personal income(when they cash it out). This because they are mining for themselves, using their own resources for their own personal gain. MUCH lower taxation level. Small businesses can claim under standard business earnings schedule and can deduct expenses in the standard way. Capital gains does not apply. The laws need to be changed to directly target the activity of mining & handling/trading of cryptocurrencies of any kind.

An appropriate tax model for it would be capital gains plus a power usage modifier to tax the extra power drain on the national electrical supply(which is itself a very serious problem..), all applied on a quarterly tax remittance basis.


----------



## R-T-B (Apr 29, 2021)

I'm pretty sure the SEC guidance during the last surge was that it's treated as capital gains when you cash out but I am open to corrections there.  I admitedly left this detail to my tax guy last time I mined.


----------



## lexluthermiester (Apr 29, 2021)

R-T-B said:


> SEC guidance


That is just guidance. Taxpayers, as long as they follow the law as it applies to them, do not have to file earnings from cryptocoin sales under capital gains. The law needs to be changed to force it.


----------



## R-T-B (Apr 29, 2021)

lexluthermiester said:


> That is just guidance. Taxpayers, as long as they follow the law is it applies to them, do not have to file earnings from cryptocoin sales under capital gains. The law needs to be changed to force it.


As I said, not a tax expert.  Appreciate the insight.


----------



## lexluthermiester (Apr 29, 2021)

R-T-B said:


> As I said, not a tax expert.  Appreciate the insight.


To be fair, I only know because of a client who has mined & sold some and we discussed how the taxes applied to him. I was thinking that logically a sale of coin would fall under sales tax laws as it is a sale of something from one person to another. But it seem it falls under personal income when mined and sold as an individual because it is a digital creation and as such falls under a 1099c taxation schedule. Small businesses fall under a similar set of tax schedules.


----------



## lexluthermiester (Apr 29, 2021)

This was interesting.








Brian makes some good points... I'm with him, GPU market prices might be about to crash, which can only be good for gamers and the PC market in general!


----------



## R-T-B (Apr 30, 2021)

If you are counting on ASICS to crash them, don't.  We've been down that road before.


----------



## Shrek (Apr 30, 2021)

lexluthermiester said:


> Yeah, miners NEED to buy this kind of hardware instead of GPUs...


Could it be that miners are sponsoring the development of more powerful video cards? Just a thought.


----------



## Totally (Apr 30, 2021)

Betty (Kung Pow) said:


> With that mindset, why would AMD or Nvidia sell any of their own cards?
> 
> Probably more money in building a brand and getting investment money than you get for a volatile currency



Because mining is not the primary purpose of said cards.


----------



## Rithsom (Apr 30, 2021)

I really hope that enough ASICs will be produced to force GPU mining out of the question, at least until the next gen of video cards is released.



Andy Shiekh said:


> Could it be that miners are sponsoring the development of more powerful video cards? Just a thought.



Quite the contrary. AMD and NVIDIA have no reason to innovate as long as all of their product gets sold. Just look at what happened to Intel: years of no competition made them complacent and eventually fall behind in the CPU space.

These random bursts of suddenly high demand are not what drive innovation. Competition is what drives innovation. And currently the question is not who is producing the superior product, but who is producing the most stock.


----------



## lexluthermiester (Apr 30, 2021)

R-T-B said:


> We've been down that road before.


Not like this. Mining Eth is about to change in a big way.


----------



## Hachi_Roku256563 (Apr 30, 2021)

also banning crypto currency would screw people oever whos just invested in it or who have done mining and thats not exactly fun and no one will buy if its gonna be banned


----------



## sepheronx (Apr 30, 2021)

lexluthermiester said:


> Not like this. Mining Eth is about to change in a big way.


Yes it was.

And other coins exist too.  As he said, we been down this road before.


----------



## lexluthermiester (Apr 30, 2021)

sepheronx said:


> Yes it was.
> 
> And other coins exist too.  As he said, we been down this road before.


Ok, what other gpu mined coins exist with ANY viability? There are none. Etherium is the only one..


----------



## phanbuey (Apr 30, 2021)

lexluthermiester said:


> Ok, what other gpu mined coins exist with ANY viability? There are none. Etherium is the only one..


But isn't that Etherium's whole shtick?  If it leaves won't it just make space for another GPU blockchain currency?  DaggerHashimoto Coin!


----------



## Hachi_Roku256563 (Apr 30, 2021)

lexluthermiester said:


> Ok, what other gpu mined coins exist with ANY viability? There are none. Etherium is the only one..


whos gonna pay out all the people if cyrptomining is banned


----------



## sepheronx (Apr 30, 2021)

lexluthermiester said:


> Ok, what other gpu mined coins exist with ANY viability? There are none. Etherium is the only one..



Conflux.  I am mining it through nicehash on my 6800xt and was making about $4 a day with it while I made about $7 a day on ETH.  I switched back of course but yeah.  I am kind of just testing the waters right now with altcoins.

I will find bitsbetrippin google document where he goes through various coins and profitabilities and potential after ETH 2.0 next year.









						miningmodel-v3.4
					

Version History  Version,Fixes,Key v2.0,Inital Public Release,Calculated Field v2.1,Minor Release Fixes / Added Content,Enter Data Fixed,- Forecast Eth Calculation in Column F fixed,Dropdown Select Fixed,- Model Calculations for 1w Net fixed Fixed,- Formatting fixed, highlighted calculation, inpu...




					docs.google.com
				









						WhatToMine - Crypto coins mining profit calculator compared to Ethereum Classic
					

Calculate how profitable it is to mine selected altcoins in comparison to ethereum or bitcoin




					whattomine.com
				






phanbuey said:


> But isn't that Etherium's whole shtick?  If it leaves won't it just make space for another GPU blockchain currency?  DaggerHashimoto Coin!


They are trying to change that where they want to be like bitcoin in the essence.  Or maybe like Silver is to gold.

It may go two routes - may crash ETH value if people all switch and then demand goes to other coins, or people will continue to throw cash at it and cause it to spike.

Either way, ETH as of next year will be PoS rather than PoW.  So altcoins like Raven, conflux, ETC and the like will end up becoming popular among the miners.  Their value is low but like as BBT states in some of his videos, if something like RVN gets to about over $1 per coin, it can be more profitable than ETH is, and that is assuming if 75 - 100% of the mining rigs all switch to it.  I dont think that will happen as others may try to hedge their bets on various altcoins that are PoW.


----------



## trog100 (Apr 30, 2021)

eth has gone up by 1300% in one year.. since january this year alone its gone from 600-ish dollars to 2800-ish dollars.. its gains have outpaced bitcoin by at least double..

how much eth will cost in one years time is a total unknown..  so is how much a gpu will cost..

for sure it aint gonna be another 1300% but it could be 500%.. maybe..

some will say it will crash just like it did back in 2018.. maybe but the 10 eth i mined (mostly) back in 2018 is now worth around $28000.. a gain this year alone of around $22000..

i dont attempt to make sense of it i just know that the top coins are nice things to own..

for big business the top coins are a way of storing spare cash profitably and a way that can easily be liquidated if required..

the small cap coins are something for the greedy to gamble with..

trog


----------



## lexluthermiester (Apr 30, 2021)

sepheronx said:


> Conflux.


Not a viable cryptocoin. It's one of the many "nothing-coins" out there. It's not listed on a number of coin tracking sites and even coinranking.com isn't showing it being traded as no values for it are listed.

Anything else?



Isaac` said:


> whos gonna pay out all the people if cyrptomining is banned


No one. That's the risk taken when making ventures like this..


----------



## birdie (Apr 30, 2021)

This is great news for several reasons:

1) Miners will start buying this device instead of GPUs
2) The mining difficulty will increase substantially so mining with GPUs could become less profitable = fewer cards being used/bought for mining

In the end I'd love Ethereum and other cryptos to change their mining algorithms so that they were unsuitable for GPUs. This is unlikely to happen anytime soon though but at least Bitcoin has been like that for at least the past 8 years.


----------



## sepheronx (Apr 30, 2021)

lexluthermiester said:


> Not a viable cryptocoin. It's one of the many "nothing-coins" out there. It's not listed on a number of coin tracking sites and even coinranking.com isn't showing it being traded as no values for it are listed.
> 
> Anything else?
> 
> ...


If it's a nothing coin, then how am I making money from it?






						Conflux Network Exchanges CFX Markets | Buy & Sell Conflux Network | CryptoRank.io
					

12 Conflux Network markets on 9 Exchanges, where you can buy, sell or trade Conflux Network.




					cryptorank.io
				




Raven coin and ETC then.

I presume you don't mine so thus your not sure how it works.  I can tell many here don't mine so make assumptions.  It's fine. I just don't want you guys to get your hopes up or anything.  Time is the essence so we will see.

I myself want cheap GPU's so I can go back to building machines for customers. But as said by some of the biggest miners - GPU mining won't go away. These ASICS are a great chance but the hindrance mostly is hard to get, expensive and no resale value


----------



## xrobwx71 (Apr 30, 2021)

lynx29 said:


> @trog100 @ZenZimZaliben
> 
> Dogecoin to the moon boys!!!!


To The Moon!!!!



P4-630 said:


> BITMAIN
> 
> 
> BITMAIN， Beijing, China. 4.6 万次赞. BITMAIN is the world's foremost producer of ASIC bitcoin mining hardware. We offer both consumer and enterprise solutions for every level of miner.
> ...


Do these ASIC's come with the software to simply plug in, turn on and start mining. I mean aside from adding your Wallet/s info? 

I have an old gaming computer I set to mining for fun. I made, .00001033 Bitcoin yesterday.


----------



## trog100 (Apr 30, 2021)

i just read that currently 34% of all household income in the US comes from the government.. that is scary stuff or it should be..

money machines go brrrrrr..






						Zerohedge
					

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero




					www.zerohedge.com
				




trog


----------



## lexluthermiester (Apr 30, 2021)

sepheronx said:


> If it's a nothing coin, then how am I making money from it?


Are you actually making money? IE, have you sold that coin for cash or used it to make any purchases?


sepheronx said:


> Conflux Network Exchanges CFX Markets | Buy & Sell Conflux Network | CryptoRank.io
> 
> 
> 12 Conflux Network markets on 9 Exchanges, where you can buy, sell or trade Conflux Network.
> ...


That's the only ranking site I've seen it listed at with actual value listed.

Sorry man, it's a nothing coin.


----------



## sepheronx (Apr 30, 2021)

lexluthermiester said:


> Are you actually making money? IE, have you sold that coin for cash or used it to make any purchases?
> 
> That's the only ranking site I've seen it listed at with actual value listed.
> 
> Sorry man, it's a nothing coin.



I sure have brother. I convert it to BTC and then sell on shakepay.  To convert you can use binance and bitasset (there are others).  You can't sell directly as far as I'm aware. What most do is use nicehash to mine it while being paid in BTC.  The $ amount is based upon how much in BTC you get paid per day.  Otherwise, you can trade more.

I also posted whattomine.  It shows other cryptos too.

It is up to you if you think so. My experience says otherwise but if your experience in crypto is different, then OK.


----------



## trog100 (Apr 30, 2021)

well its the last trading day of the month.. bitcoin is up 4k on the day about 6%.. we will see what the next few days bring.. up up and away maybe.. he he

trog


----------



## Space Lynx (Apr 30, 2021)

trog100 said:


> well its the last trading day of the month.. bitcoin is up 4k on the day about 6%.. we will see what the next few days bring.. up up and away maybe.. he he
> 
> trog



gpu mining will be fine for a couple more months i think, but as more and more ASIC's come off the production line those days are numbered... timing is going to be everything I think.


----------



## Shrek (Apr 30, 2021)

And then... the market floods with old mining cards...


----------



## R-T-B (Apr 30, 2021)

lexluthermiester said:


> Ok, what other gpu mined coins exist with ANY viability?


There are a few, and there will be even more when interest shifts to them for exactly the reason that they are gpu minable.



lexluthermiester said:


> Are you actually making money? IE, have you sold that coin for cash or used it to make any purchases?


He certainly is.  You are searching wrong.  You need to look at profitability, not market cap.


----------



## trog100 (Apr 30, 2021)

lynx29 said:


> gpu mining will be fine for a couple more months i think, but as more and more ASIC's come off the production line those days are numbered... timing is going to be everything I think.



these will have a very limited supply and a very high cost.. i dont think they will affect the gpu situation at all..

etherium going up in price will keep gpu mining profitable for quite some time.. my four hourly nicehash payout is now showing 12 dollars.. that is 72 dollars per day.. 500 dollars per week or 2000 dollars per month.. nice for doing nothing.. 

i now have 11 cards (three machines) running 730 m/sh.. 

trog


----------



## R-T-B (Apr 30, 2021)

Andy Shiekh said:


> And then... the market floods with old mining cards...


ASICS will not bring this.  No doubt in my mind they are a non-factor.


----------



## Space Lynx (Apr 30, 2021)

R-T-B said:


> ASICS will not bring this.  No doubt in my mind they are a non-factor.



it really comes down to supply of the ASIC's which is very limited I agree, but I think greed will motivate them to make them at a faster pace than we have ever seen before   greed is a double edged sword like that. gpu mining will be obsolete within 6 months due to ASIC's... we will see if I am wrong or not.

start the 6 month countdown with this post.


----------



## lexluthermiester (Apr 30, 2021)

R-T-B said:


> You are searching wrong.


Maybe, but none of those alt GPU generated coins are "big" enough to be considered viable or market significant.


----------



## trog100 (Apr 30, 2021)

the coiners see what they want to see and the no coiners see what they want to see.. rational discussion rarely happens in crypto threads.. 

trog


----------



## R-T-B (Apr 30, 2021)

lexluthermiester said:


> Maybe, but none of those alt GPU generated coins are "big" enough to be considered viable or market significant.


From a miners perspective they are, and that's all it needs.

Also, ethereum was not "viable" until bitcoin and litecoin asics took off.  Guess why it became viable?



lynx29 said:


> it really comes down to supply of the ASIC's


No it doesn't.  It comes down to the nature of the tech:  ASICS mine one coin, gpus several.


----------



## lexluthermiester (Apr 30, 2021)

R-T-B said:


> From a miners perspective they are, and that's all it needs.


That is only one perspective. As a currency, viability requires widespread acceptance and adoption. The only GPU generated coin that has such a status is Ethereum. The rest are nothing coins.


----------



## R-T-B (Apr 30, 2021)

lexluthermiester said:


> That is only one perspective.


It's the one that matters for the gpu supply.



lexluthermiester said:


> The rest are nothing coins.


As I said, so was ethereum until it was elevated because a new gpu coin was needed...


----------



## Space Lynx (Apr 30, 2021)

R-T-B said:


> No it doesn't.  It comes down to the nature of the tech:  ASICS mine one coin, gpus several.




this remains to be seen, as of now Bitcoin and Ethereum are the only two profitable coins to mine. the rest is very much poking in the dark gambling.  zcash is probably a safe bet, but im not sure if you can mine that one.


----------



## lexluthermiester (Apr 30, 2021)

R-T-B said:


> It's the one that matters for the gpu supply.


You're missing the point, if it's not viable from a profit based perspective, it's not going to attract miners on a widespread level and thus will have little impact on the GPU market.



R-T-B said:


> As I said, so was ethereum until it was elevated because a new gpu coin was needed...


No, Ethereum has been viable for many years, 2014 IIRC. Nothing else GPU generated has come anywhere close...


----------



## Space Lynx (Apr 30, 2021)

lexluthermiester said:


> You're missing the point, if it's not viable from a profit based perspective, it's not going to attract miners on a widespread level and thus will have little impact on the GPU market.



it will attract gamblers sadly.  like Protocoin 9 years ago, everyone will be like this is the next big thing, booms and crashes, and pyramid schemes tricking people in mass, until the masses finally learn their lesson or run out of money, or their parents yell at them for increased electricity bills.

once Ethereum falls there will be an exodus... it will just take time.


----------



## sepheronx (Apr 30, 2021)

lynx29 said:


> it will attract gamblers sadly.  like Protocoin 9 years ago, everyone will be like this is the next big thing, booms and crashes, and pyramid schemes tricking people in mass, until the masses finally learn their lesson or run out of money, or their parents yell at them for increased electricity bills.
> 
> once Ethereum falls there will be an exodus... it will just take time.


Many like you were certain last time too.

I do like when people have such faith.


----------



## Space Lynx (Apr 30, 2021)

sepheronx said:


> Many like you were certain last time too.
> 
> I do like when people have such faith.



Ask yourself, what is keeping Ethereum going? It's not just a made up coin, NFT's, and many other uses are built into it. That's what gives it value. Lot of these other coins are just making crap up.  Bitcoin is valuable because it was the first and equivalent to digital gold.

The other coins really have nothing going for them... I don't even know why Tether exists for example... the privacy coins make sense like Zcash and Monero, but almost no exchange accepts them for a reason... so unless you can find me a coin right now that has a really unique concept behind it that may give it value or is worth mining I just can't agree with you.

I'm open to changing my mind.


----------



## sepheronx (Apr 30, 2021)

lynx29 said:


> Ask yourself, what is keeping Ethereum going? It's not just a made up coin, NFT's, and many other uses are built into it. That's what gives it value. Lot of these other coins are just making crap up.  Bitcoin is valuable because it was the first and equivalent to digital gold.
> 
> The other coins really have nothing going for them... I don't even know why Tether exists for example... the privacy coins make sense like Zcash and Monero, but almost no exchange accepts them for a reason... so unless you can find me a coin right now that has a really unique concept behind it that may give it value or is worth mining I just can't agree with you.
> 
> I'm open to changing my mind.



None are unique. It is just used and traded. Monero is a way to do transactions in Venezuela years ago to now. Popular among nations that are sanctioned.  That is its value.

Something you forget. And you can thank your government too for their constant attacks on others economies.

Crypto will be poised to become even more popular if EU and US do something as silly as try to ban more countries, let's say net export based countries, from SWIFT.  Your guys little games you play internationally actually help give rise to such new developments like crypto.

You really should check out bitsbetrippin. His videos are really good and informative.

We have exhausted the conversation regardless. It's going in circles. I have made my point and backed it up with links and data. The rest is you guys and your faith vs miners and their faith

But never be certain of what you think will happen. Only things guaranteed in life is death and taxes.  The rest is speculation.

Me? I'm diversifying more so. I will be mining coins directly and using nicehash. The coin I am gonna mine directly and hedging bets on is RVN






						Ravencoin Price Prediction 2022, 2023, 2025-2030 | PrimeXBT
					

Read this helpful guide to get an understanding of Ravencoin's long term value and learn if it matches up with expert RVN price predictions.




					primexbt.com


----------



## MentalAcetylide (May 1, 2021)

sepheronx said:


> None are unique. It is just used and traded. Monero is a way to do transactions in Venezuela years ago to now. Popular among nations that are sanctioned.  That is its value.
> 
> Something you forget. And you can thank your government too for their constant attacks on others economies.
> 
> ...



I think its less about the governments and more of greed. The reason why there's such a disparity between currencies & economies is that we basically have corrupt commercialism plundering nations. So called "mutually beneficial" trade agreements are beneficial to a select minority rather than having consideration for each country involved as a whole. Wrap your head around this: 
How is it that some of these African nations that have put out hundreds of billions of $$$ worth of precious gems globally still have such a shit economy and can barely feed their own people? Sure the governments tend to be corrupt, but again, it goes back to them being paid off by the individuals outside of the country who only care about the flow of shiny stones to their company. 
Globalism is another problem. Instead of countries producing or trading for what they need, its just a big mess of disparity.


----------



## trog100 (May 1, 2021)

i did read a few years back that the main human motivator was self interest.. the question was then ask if so what stops us just just raping pillaging and killing each other for our own self interest.. ..

the answer was quite simple a modicum of tit for tat.. treat others as they treat you..

this probably works for individual human beings but not for governments and large corporations.. they lack the tit for tat mechanisms which enables the human race to survive..

basically as individuals we are okay.. but as large groups with "leaders" something called deferred  responsibility kicks in and we are f-cking dangerous..

deferred responsibility is what enables the prison guard to go home and read his kids a bed time story..

trog

ps.. but back on topic.. its the first day of may.. bitcoin is back up over 58K and eth is at a nice 2870 plus... up up and away i recon..


----------



## R-T-B (May 1, 2021)

lexluthermiester said:


> No, Ethereum has been viable for many years, 2014 IIRC.


Really?  That's strange considering it launched with nearly no value late 2014 (August I think).

It took a few years and bitcoin and litecoin asics for it to become the big fish.  Check a price chart.  Note that in 2016 while ethereum struggled to beat $10.00, litecoin, the then gpu king, was at nearly $200 peak that year.

It's happened before.

I want you to be right mind.  I really wish you could be.  But we've seen this before, twice, and so I know you are wrong.



lynx29 said:


> The other coins really have nothing going for them...


There are a few.  Ironically those with genuinely productive and/or interesting features do not tend to be the ones that are most profitable.


----------



## lexluthermiester (May 1, 2021)

R-T-B said:


> Really? That's strange considering it launched with nearly no value late 2014 (August I think).


You're likely right. The point was that it's been big for several years now and that it caught on quickly after it's introduction.


----------

