When will bitcoin die?

[porina]

2 hours ago, Damascus said:

I would agree with that other than 2 things

1. He would competing against himself, hard.  It was as low as 200 cad per gpu for a while, it seems insane to price yourself down with multiple accounts
2. As mentioned above, there were many sellers competing, not just one

It was only a guess based on what you had said. I hadn't observed anything similar happening, although I wasn't necessarily looking at the time it happened either. Was it just your region, or worldwide, I don't know. Whatever it was, I'd still consider it to be an insignificant blip in the grand scheme of things.

2 hours ago, cluelessgenius said:

interesting question there. if new cards do come out and it turns out they are slightly better at mining crypto than the current gen would miners jump on it and take another ROI period instead of staying with their payed off hardware. i guess it depends on how much better they are but i imagine if you just build your farm or even when or especially when your ROI time is over would it not be more profitable too stay with the hardware you got? and assuming bitcin mining is here to stay is that gonna mean well have the market flooded with last gen cards on the cheap every time they bring out something with better hash rate.

There is no single answer. If the miner has resources to spare, they might get the new cards in addition to what they have. If they only have limited resources, if the profit was sufficient to cover it, they might swap the old cards over time. Continuing that train of thought, it might end up that low budget gamers might have to resort to holding back a generation to keep costs down. I can only talk about my local market, but for about the same price, I could buy either a new 1060 3GB, or a used 980Ti. Gamers might have to make more of that kind of choice on a limited budget.

2 hours ago, cluelessgenius said:

just someone please make cards for them like special mining cards or like these asic things and leave the gaming market alone

The whole point of GPU coins is to resist ASICs. They are designed to make ASICs expensive to implement, so no one would do that. Keeping it on GPU is a wanted feature to help spread the effort and prevent a single miner getting too much power, which would break the coin. If you ever manage to have control over more than half the mining power on a coin, you can basically dictate what happens on it and control it.

 

There is also no good way to prevent mining on gaming cards, without risking breaking them for gaming also. Even if you put things in hardware to prevent current coins from running well on it, all you will do is give birth to a new generation of coins which will make use of whatever the new features are.

 

[cluelessgenius]

1 hour ago, porina said:

The whole point of GPU coins is to resist ASICs. They are designed to make ASICs expensive to implement, so no one would do that. Keeping it on GPU is a wanted feature to help spread the effort and prevent a single miner getting too much power, which would break the coin. If you ever manage to have control over more than half the mining power on a coin, you can basically dictate what happens on it and control it.

didnt get it. literally have no clue how crypto currencies and mining workand didnt find any videos so far to be really useful. what if a new coin came out that ran best on professional gear like quadros and fireepros or whatever id be down with that.

it rally feels like stock brokers taking away lollipops from children because they decided to make them a currency like "no were trading this now, you can play with it when were done and it all old and gross"

[porina]

1 minute ago, cluelessgenius said:

didnt get it. literally have no clue how crypto currencies and mining workand didnt find any videos so far to be really useful. what if a new coin came out that ran best on professional gear like quadros and fireepros or whatever id be down with that.

I don't claim to understand it all either. When someone creates a coin, they can define how it works. But if you pick requirements that are too obscure, it wont take off.

 

I had wondered, what if someone made a coin that significantly used 64-bit floating point instructions. This might seem both a bit vague and specific, but these instruction types are very weak on most consumer hardware apart from Intel CPUs since Sandy Bridge (and similar Xeons) and much older GPUs before they nerfed them. High performance is also possible on some expensive "pro" cards. Basically you could practically call it Intel coin because that would be the affordable hardware that could run it well. Ryzen isn't totally hopeless but it isn't that great at it either. It would have to be 64-bit because if you used 32-bit, existing GPUs would run away with it again.

1 minute ago, cluelessgenius said:

it rally feels like stock brokers taking away lollipops from children because they decided to make them a currency like "no were trading this now, you can play with it when were done and it all old and gross"

The financial people aren't the ones buying the hardware, but they are effectively fueling the miners. Miners wouldn't mine if there was no money in it, and that money does have to come from somewhere.