Ethereum ASICs Are Here: What the New Miners Mean and What's Next
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In a time when cryptocurrencies are becoming more mainstream and a more lucrative form of income for individuals all around the world, it's no surprise that technology continues to advance at a lightning-fast rate. For several of us, our journey started in the cryptocurrency space in the form of mining.
In an effort to curb this trend, newer cryptocurrencies that were supposedly ASIC-resistant were developed. Bitmain has been consistently in the lead of ASIC development and ahead of all competition when it came to price vs hashrate and faster to market than any other manufacturer to date. A new rumor has it that Bitmain will soon launch a new piece of hardware for electronic currency mining on a new platform that would be GPU-based to mine Ethereum. This may soon be an issue of the past.
The rumored release date is Q2 or Q3 ofwhich puts its release within the next few months. This comes at a time when Ethereum is speculated to switch to PoS eventually. With the price and marketcap of ETH speculated to overcome Bitcoin this year, I assume this is Bitmain's move to get in quick and make a ton of money before the switch to PoS happens and the price begins to skyrocket to the moon.
Potential Layout of the Boards - Ethereum mining asic Source. The rumored specs of the F3 Ethereum miner indicate that every miner is mounted with 3 mainboards. This makes for a very powerful miner and with the lower power consumption expected from Bitmain products, would essentially put all other homemade GPU Mining rigs ethereum mining asic of business.
Whether the rumors are true or not will have to be seen. It has been reported that Bitmain has been meeting with various plants and manufacturers in Taiwan to determine whether the needed amount of chips can be produced at the capacity that Bitmain is looking for. In a time where GPUs are in high demand and production is constantly struggling to meet ethereum mining asic, this may be a tall order.
The Dram memory demand that these plants need to fulfill for Bitmain is around 3, pieces of inch wafers per month and it's expected that the ETH ASIC chips will begin production sometime this month.
Previous rumors speculated that the ASICs could ethereum mining asic to Mhash per second, but with ethereum mining asic current specs, the hashrate could possibly be even more. Late last year, it was speculated that the miner could come in two flavors - one with a power supply and one without a power supply, however, I assume Bitmain will follow it's current trend of shipping the miner and a separate power supply as individual products.
The demand and overall growing value of Ethereum may even increase that estimate. Bitmain is well known for getting in at the right time and helping to boost the value of a currency by releasing miners for a currency that has a growing demand. The company is well known for ethereum mining asic whatever it can as early as it can to grab a piece of the market.
If the hype is true, I will be one of the first in line to try and get my hands on a couple of these miners. What are your thoughts? Do you think the rumors are true? Let me know in ethereum mining asic comments section below and If you do have any questions, inputs, or feedback, please also share those with me.
I would also appreciate support in the form of Upvoting and Re-steeming my post if you found it informative. I wonder how soon this will make GPU switch to mining something else and what will be the best coin to mine for them. I think it would be Monero and that would be great for it's price I think. I suggest you try them out; they're much simpler than the desktop GUI. I think initially everyone will try to mine as much ETH as they can and when the difficulty starts to increase, people will switch over to Monero or ZCash.
This is not an ASIC, it is just a huge collection of cheap memory chips. Of course having a modded BIOS and other twerks. If you think otherwise, let me know Good post, but dang. SatoshiLite is a good follow, but I'm not sure I can agree on this one. No surprise though from Bitmain. They like and are good at the alpha position.
I'm sure it will be a money maker for them. Not sure what it will do for Ether. Ethereum mining asic suspect it will push the price higher, but Sia is keeping me in check on assuming too much. ETH has a good head start.
I think this year is definately up for grabs. These will definately be a money maker for Bitmain, especially because it is for Ethereum. I think you are right about ETH. What will be really interesting to see is how the increased hash rate impacts other Ethash coins that ethereum mining asic as well established.
It could be a bumpy ride for a few. With more eyes on the algo, I hope we see a few more unique and value added coins enter the fray. There are plenty of GPU mineable coins. If Bitmain doesn't lock the miner down ethereum mining asic ETH, we could see an interesting increase in the overall network hashrate for a ethereum mining asic of currencies. Amazing and very interessing post ethereum mining asic you ethereum mining asic sharing cloh.
Hopefully we will see an ETH miner soon that I can review. Lots of smoke and mirrors coming out of bitmain. Some preliminary calculations have it hashing around Mhz and power consumption in the low watt range. Not sure about price tag. Ethereum mining asic good to know.
That seems to be their sweet spot when it comes to pricing. This all assumes the Ethereum Foundation won't just modify ethash to be resistant. They might be able to do that even if bitmain is just stacking gpu's. It's never a done deal. Cryptos are evolving systems. I'd love to watch bitmain ship a few thousand only to have ethash modified in a way that no firmware update could fix.
Just quadrupling the ram usage might render their asic worthless and keep eth distributed. I have heard that it may be just a bunch of GPU chips stacked into an enclosure. Ethereum mining asic and intel are also now getting into the ASIC game!
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When and if there is a asic miner for ethereum, it will definetely inflate its the price further. When all the coins finally get an asic, then it will be time to choose a side.
A centralized government fiat currency or a centralized private entity crypto currency. Decentralization let's everyone participate and earn incentives regardless rich, poor or average.
Centralization let's only the rich and the powerful with connections and able to afford asic participate and creates monopoly. ASICs are in no way ethereum mining asic power efficient. No one has ever ethereum mining asic "wow Bitcoin is so power efficient now".
Dear Steemit Friends, In a time when cryptocurrencies are becoming more mainstream and a more lucrative form of income for ethereum mining asic all around the world, it's no surprise that technology continues to advance at a ethereum mining asic rate.
Potential Layout of the Boards - Image Source The rumored specs of the F3 Ethereum miner indicate that every miner is mounted with 3 mainboards. I would also appreciate support in the ethereum mining asic of Upvoting and Re-steeming my post if you found it informative If you would like to read ethereum mining asic about this as it develops, please consider following me.
Authors get paid when people like you upvote their post. Monero needs to create an easier to use wallet. I'll have to check those out. Thanks for the heads up!
