Bitcoin 's value pushes past $37,000 within hours of breaking past $36,000

[WYP]

Bitcoin's value has already increased by over 25% in 2021.



Read more about Bitcoin's value rising above $37,000.

 

[Dicehunter]

I know it won't happen but I hope by some computational miracle that crypto currency only becomes viable to attain using dedicated mining ASIC's and not GPU's as I can see this going south for those of us who may be in the market for a new GPU around summer.

 

[WYP]

I know it won't happen but I hope by some computational miracle that crypto currency only becomes viable to attain using dedicated mining ASIC's and not GPU's as I can see this going south for those of us who may be in the market for a new GPU around summer.

Sadly a lot of currencies, like Etherium, are designed to be ASIC resistant. It is supposed to make mining accessible and prevent ASIC designers from controlling the market, but it puts stress on the GPU market as a result.

Bitcoin is mined almost exclusively on ASICs these days. GPUs mining Bitcoin not profitable.

 

[NeverBackDown]

I know it won't happen but I hope by some computational miracle that crypto currency only becomes viable to attain using dedicated mining ASIC's and not GPU's as I can see this going south for those of us who may be in the market for a new GPU around summer.

In addition to what Mark said, it's all algorithm dependant and if the non ASIC currencies algorithms are all of a said being figured out they can just change the algorithm entirely. No miracles needed, it's just math ^_^

A miracle would be if AMD/Nvidia could just figure out a way to prevent miners from getting them so quickly before consumers have a chance.

 

[KingNosser]

They sell directly to the miners, it'll never change

 

[grec]

It's worth noting that "ASIC Resistant" algorithms like Ethereum's Ethash just mean that they're designed in such a way that creating ASICs becomes expensive and with harder to achieve gains, Ethereum mining for example has been dominated by ASICs for quite a few years now, but the high memory requirements means these ASICs need updating regularly or to ship with lots of very fast on board RAM for a given launch date.

GPU Mining coming into use again is more from the rapid increase in value creating instant demand for mining transactions beyond that available in total current deployed ASICs, no one can get ASICs fast enough to fill the demand so GPUs are the 2nd best thing, with time the GPUs should again be replaced by ASICs for long term profitability.