I just posted a video update on GPUs vs ASICs and the state of cryptocurrency mining.
With all the announcements about new ASIC miners coming out a lot of GPU miners are scared. This is normal and it is a part of the process of mining. Watch this video for some of my thoughts on the future of GPU mining.
- When coins become profitable enough, ASICs are always going to happen.
- ASICs aren’t flexible and can only mine one algorithm. If the coins fork, like Monero did, then the ASIC becomes worthless.
- Conspiracy theories abound that the ASIC manufacturers privately mine with better hardware than they sell to the public.
- More conspiracy theories suggest that the ASIC manufacturers are overselling the hardware to the public, making diluting the profitability so that ASIC miners aren’t profitable for very long.
- GPUs are flexible and can be pointed at many different software and cryptocurrency algorithms.
- GPUs always have a place in mining during the early stages of new cryptocurrencies.
- Some coins are forking to prevent ASICs from taking over.
- We’re also looking out for new and up and coming projects.
- YOU’RE in control. If we can support the coin, we’re happy to assist in pointing your GPUs to new algorithms and coins.
- We’re also going to expand into ASIC mining for those of you that are interested.
- We’re also going to expand into FPGA mining which is a hybrid between GPU and ASIC. It is more powerful, more expensive, and more complicated than a GPU… but it is reprogrammable unlike ASICs. Meaning if a coin makes a change to their algorithm the ASIC can be reprogrammed to a different algorithm or updated with changes to support the new algo.
As always feel free to leave questions below or comment on the video at YouTube.