What do crypto-currencies have against ASICs?

To be honest, what they claim to be an ASIC for ethereum isn't much more efficient than graphics card.
The limiting factor in this algorithm isn't computing power, but memory timings and frequency.

I'm pretty sure you can get same efficiency results with your average Vega/rx580 if you run fans at 5000rpms, as this thing does.

Well it's a lot cheaper, so there's that.
But it's not like they can produce them on the same scale as GPUs.

ASICS killed Bitcoin mining on gpus because they were orders of magnitude faster at it.
This is not the case here.

>caring about pretend money

Because Ethereum is intentionally designed it to not work well with ASICs.

It's not a killing blow, to be honest.
I say a fork is unnecessary for now.
Just start working on it, just in case.

It shouldn't fuck with ASICs at all.
It's completely irresponsible.

Global warming is already enough of a problem, we don't need to find new ways to waste energy needlessly.

>this thread
No, /v/
It's so simple, even you can comprehend it
GPUs are mass produced and readily available
Everyone can buy them
They promote decentralization
Decentralization is good
Asics are only available from specialised vendors and usually require preordering, if you get them at all
Not everyone can buy asics
Asics promote centralisation
Centralisation is bad

>only two companies produce GPUs worth mining with
>almost impossible for newcomers to compete

wow that sure is decentralized!

I bet the sum of all GPU mining on the planet releases less CO2 than a 747 making a single round trip from LA to NYC.

Same is true for fiat money LOL

You shouldn't fly for no good reason either.

>miners can either be males or females

wow, that sure is decentralized !
we need more transgender miners

Do you have any point to make or are you just mad that you're too stupid to make an actual argument?

It's the same fucking thing if people can't buy gpus because a bunch of jerks by all the stock. Cryptocurrency is idiotic. It doesn't solve any of the problems inherent to fiat currency.

It's that retarded Silicon Valley mentality of trying to fix societal problems with code.

ASIC is also mining crypto currency

The thing about this is that for everyone with the money for a massive GPU farm, there's always going to be WAY more people who want to set up smaller operations or use their gaming GPUs for generating a bit of cash on the side. Then there's also the fact that GPUs can be re-sold after the operation is finished so your investment is a lot more secure than with something that has no re-sale value.

If you look at the pool sizes terms of share of the whole network you'll see that no single operation or pool has anywhere near as much of the computer power of the whole network as the big bitcoin pools.

Simply put: A low barrier of entry means that the small players will control way more of the network than with a high barrier of entry.

>Then there's also the fact that GPUs can be re-sold after the operation is finished
Who buys used mining cards close to breaking point for more than pennies?
>A low barrier of entry means that the small players will control way more of the network than with a high barrier of entry.
Smaller affordable ASICs exist, some cheaper than a viable GPU mining rig.

I get you, I run 100MH/s on used hardware.
If ASICS can get more efficient, then hashing will be left to big groups, while I mine something else.
But I don't fear. The figures I've seen from Bitmain's abomination doesn't make it that sexy.
To me it's like they strapped an ASIC cpu to GDDR5 and OC'd it to the max with max RPM on the fans.

I could do the same max RPM strategy on my cards, but then, I'd have to invest in soundproofing. And I'm pretty sure I'd be running at comparable efficiency levels.

>They allow for cheaper, much more energy-efficient, and less wasteful mining rigs.
huh? check out how the blockchain works again.
easier mining -> increased difficulty -> harder mining -> net gain: 0
except now you're left with asic miners only, becoming less decentralized

fucking communist

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How they make the algorithm prevent asics from being more efficient than general purpose hardware?

The free market choice is clearly ASICs, which are the most efficient way to compute the hashes.
The community trying to disrupt that to make everyone more "equal" is literal communism.

they use a different algorithm that cannot be solved with the asic setup/chip

So I searched for some time, and found out that equihash is the real deal. It incentives botnets. Crypto is a dead cause.

ASICs causes centralization of the blockchain, which is bad because a pool consisting of a majority of the total hash power could forcefully take over the blockchain if they wanted to steal people's coins.

How did we get this far into the thread before someone pointed out that OP's understanding of the basics of mining is flawed? Is Jow Forums this retarded?

>What do crypto-currencies have against ASICs?
Don't even know why people freak the fuck about ASICs as industrialized mining hardware such as dedicated GPU mining appliances (Think GPUs in a ASIC miner form factor that only needs Ethernet) will do more damage in the long run than ASICs

>ASICs causes centralization of the blockchain,
Because of a single case?
What reason is there that centralization would never happen without ASICs?
What reason is there that centralization will always happen with ASICs?

The post completely misses the point.

Which post? The one correctly pointing out that OP doesn't understand how blockchains work and his question is based on a false premise?

OP's premise is that ASICs can calculate hashes more efficient than GPUs. Which is true.

So that's why BTC burns more electricity then ETH and is more decentralized (secure)

Eat shit brainlets.

Also all of you morons on here that fight this are missing out on fuck tons of money. I doubled my income last year mining/trading and will probably 4x it this year.

>I doubled my income
2*0 = 0

This.

BTC is just a proof-of-concept taken too far and not a good example.

>transgender people are a third gender and not just a "modifier" word to male or female
colour me triggered, miner

*picture of zucc smiling here*

The value of each hash goes down the more hashes are generated for the network. This is a fundamental feature of proof of work.
>They allow for cheaper, much more energy-efficient, and less wasteful mining rigs.
>We should be working on reducing energy usage, not artificially increasing it.
ASICS do not reduce energy usage. Every ASIC added to the network reduces the output of every other miner. When this eventually forces GPUs off, it's because they've been replaced by ASICs consuming the same amount of energy, which indeed produces a larger amount of hashes, but the same amount of coins.

they are not open platform where you can buy it or license it to build your own, they are made by private companies and selling it the way they want to sell in their own conditions. The idea of crypto-currencie is to be decentralized and ASIC miners the way it is destroys the concept of the crypto.

That follows the idea that more efficient miners must mean more people running more miners.
That is an economic reaction, not something fundamental of a cryptocurrency.

Thanks to all you fuckers, what I managed to save up for so long for a gaming PC/ general use computer is worth fuck-all because a fucking GPU is now almost worth the price of the whole fucking build. Thanks.

Based crypto is solving the /v/ problem

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Too bad they already failed

>What reason is there that centralization will always happen with ASICs?
ASICs have a very expensive barrier of entry.
It costs millions to develop and manufacture one. The payoff however is enormous. Therefore a few large players will invest millions and reap most of the rewards.

GPUs have a very low barrier of entry.
Anyone can buy them at more or less equal conditions. Bulk GPU orders won't get you huge discounts, maybe 20% at most.

The most recent example would be CryptoNight. Its hash rate doubled within a short period of time. The existence of ASICs was only made public after the Monero developers announced an algorithm change, rendering the ASICs useless.
Lo and behold, the hash rate crashed to around 10% and still is 50% lower than before the change.
That means 2 or 3 large players controlled at least 50%, endangering the security of the currency.

Money is all pretend money. If everyone went to ask the banks for their money back most people wont get shit. Because money is just trust. You trust the government that that bill is worth this much. You trust that the bank can take care of your property. You trust that the currency remains stable so tomorrow you can still afford the things you can afford today.

Money itself is a fucking lie. Some countries use usd because their governments breached that trust so the citizens went to use something more trustworthy i.e. stable.

Ridiculous. Bitcoin mining used as much energy as Colombia last year. Don't believe me search it up. And thats just bitcoin. A fucking waste of energy. And it's still growing. Exponentially.

this

Yea there's no way you can fix human mentality. Regardless of whatever fucking system you invent someone is going to end up oppressing or exploiting others. Life is just like that.

It is the example