News Bitmain Ships Ethereum Miner Equivalent To 25 RTX 3080 GPUs

ezst036

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Oct 5, 2018
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Solutions such as this should prevent or tamp down rather quickly the next mining craze, or shortly after one begins quickly draw it down to a close.

Another mining craze is sure to happen again in the future.
 

spongiemaster

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Dec 12, 2019
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One more reason for ETH GPU-mining to not come back.

I wonder how much of the extra delays were due to "in-house testing" :D
Something we actually agree on. These will kill off Ethereum GPU mining for good the way they killed off Bitcoin mining years ago. As ezst036 said, that doesn't really mark the end of all GPU mining. Something else will take Ethereum's place when the economy turns around eventually.
 

InvalidError

Titan
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OK, eth GPU mining may not come back but GPU mining will still come back. Just mining other coins.
Maybe, maybe not. BTC is the benchmark against which all other crypto gets compared but is too slow and expensive to do everyday transactions on. PoW in general is too slow and power-hungry for high-volume transactions and ETH going PoS will make it the likely defacto coin for everyday stuff. There won't be anywhere as much of a need for alt-coins once that happens.
 

escksu

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Maybe, maybe not. BTC is the benchmark against which all other crypto gets compared but is too slow and expensive to do everyday transactions on. PoW in general is too slow and power-hungry for high-volume transactions and ETH going PoS will make it the likely defacto coin for everyday stuff. There won't be anywhere as much of a need for alt-coins once that happens.
The main purpose of pow isn't exactly for transactions, it's to mine new coins. Right now, most of the computing power is for mining new eth rather than transactions.

Even when eth goes pos, there will be other new coins to mine. And no, eth will not become defacto coin. Eth now is used mainly for ERC20 transfers. No doubt it's the main method of transfer. But there are other methods using ftm/binance network..

Anyone outside eth doesn't need erc20. Cross chain transfers doesn't need erc20 too.
 

InvalidError

Titan
Moderator
The main purpose of pow isn't exactly for transactions, it's to mine new coins.
Why is PoW difficulty regulated to keep average minting time in the 10-20 minutes range? Because transactions on PoW block chains aren't final until they have been rolled into a new block. On PoW crypto, mining is an integral part of transaction processing. The block coin credit is intended to be your compensation lottery for contributing your resources to processing people's power-hungry transactions.

You don't mine for coins, you mine to keep the network alive. The network gives you coins for keeping it alive as it would collapse into nothingness without people dumping 100+TWh/year into it for a chance at winning the compensation lottery.
 

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