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Why I support GPU mining over ASICs for crytocurrency and will always do..


  1. #1
    Savera's Avatar
    Savera is offline eTI Aluminium

    Why I support GPU mining over ASICs for crytocurrency and will always do..


    Somewhere I was reading about discussion over ASIC and GPU mining. ASICs are special hardware meant to only mine or solve blocks to gain reward as crypto currency.

    There is ever going debate that ASICs are better, they save power and have better earning, so I decided to share my views why I will always support GPU for mining over ASICs.

    First of all, lots of people say that ASICs are making mining centralized and GPUs are not so different, see only NVIDIA amd AMD are major player GPU. But GPU mining is far more decentralized than said, if you have money you can always, anywhere buy GPU (sometimes for a premium) but for ASIC, even if you have money, then you need to be lucky to get it at right time. Further, you can't just import ASIC in many countries, further there are heavy import duties. Moreover, if ASIC fails then most of the time its just fails.. for GPU , you get years of replacement window.

    If I can get ASIC as I can get GPU, I am ready to support ASIC. However, apart of some resourceful (wealth + luck) , ASICs are distant dream.

    Moreover, ASICs get obsolete in matter of months given that you have got latest one in time. For GPUs, its far more usable, you can shift mining to new algo / new coin and give new lease to your GPUs. I can see people who started with RX470s, they are still mining although not that profitable but are not yet obsolete.

    To add, even though NVIDIA and AMD are major chip provider , I should say only chip provider for GPU but then again there are lots of sub-vendors like ASUS, ZOTAC, MSI, GALAX and many more those are making GPUs but for ASICs, there are only few names and those too with shaddy practices of premining, favouring some large institutions over regular customers and more.

    Imports of ASICs in country like India is questionable, since Govt. is directly against using FIAT currency to buy Cryptocurrency, they have also strict import rules for ASICs. Even if you manage to import one, you will need to pay very high import fees.

    And in case, you don't want to mine anymore after buying hardware, ASICs are completely useless unless there is some miner willing to buy it. On the other hand, for GPU, you can always find buyers, they can be miners or can be gamers. You can even take out one of the GPU and play your favourite game on highest possible settings.

    So, GPUs are far more decentralized, they have higher life span, they have multiple uses and have good resale value.

    Now, I needo address another small question where people say GPUs are not energy efficient as ASIC, then answer is very simple, although ASICs are able to give lot more power but they also cause mooning of difficulty, which in return again bring back to similar power to earning ratio.

    Hence, I will support GPU mining over ASICs any time.


  2. #2
    Bhvm is offline eTI Aluminium
    What is the future of Mining? Has government banned it?
    Of late i am seeing entire crypto industry loose steam and people are also suffering losses.

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