I find this convo fascinating. $XMR was my favorite project as soon as Core started killing Bitcoin. Now with BCH, I’m a bitcoiner again. Is there a resource that explains in more depth why GPU coins are innately doomed?
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It is economic
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GPU maximalism absolutely removes the incentive for innovators to innovate on efficiency. Is there another economic aspect I’m overlooking?
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Small worlds. Miners are incentivised to link to all other miners. Ras pi are not
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Thank you, sir! Where can one learn more about the benefits of ASIC over GPU? There’s so much focus on “eco friendly” proof of stake, DPoS and teams like XMR and VTC forking away from ASIC at all cost. How do we educate??
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Gpu are accessible by anyone to create a mining node (decentralisation) and mine with low difficulty Asic are expensive and from a few asic manufacturers (not decentralized) not for everyone, pushing high difficulty and fees. Like asic for Ethereum was stupid..
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No. This is NOT decentralized Only for stupid people Decentralized is related to the vertex to edge ratio Small world to near complete is decentralized Only the daft think lots of Ras.Pis are decentralized
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Only stupid people are decentralized...
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Do you see Quantum computing taking over ASICs in the future?
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Not in my life nor my grandkids
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wasn't Bitcoin at a point, also GPU mineable?
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Not designed to try to stop datacenters
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Am I good just buying Bitcoin Cash or do I need to diversify?
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To what... Shit coins?
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Lol scam ico’s roasted by the Prof. More Bch it is
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But a "GPU coin" is just a coin with an algorithm that people haven't expended necessary resources to develop asics for yet though... yeah?
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I'd say a GPU coin is one which has a hash function that was chosen for the difficulty involved in developing an ASIC for it. What effect do you think that has on the market when an ASIC finally is developed?
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Sure, but that makes almost all PoW coins GPU coins. Just look at things like X-11... or let's go with equihash... both were designed with some form of asic resistance in mind... but asics were developed anyway. Markets are safu... even thriving.
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How many ASIC manufacturers are there for those coins? The barrier to entry is much higher. Add to that, the incentive structures when still on GPUs are not conducive to a growing ecosystem that can scale. And yes, most PoW coins are, stupidly, GPU coins.
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Gpus are approaching and even surpassing FPGA lvl efficiency in some instances. Asics are not a requirement for scaling an ecosystem... check coinmarketcap, there is plenty of evidence to support this. How many manufacturers? 1-3... maybe 4. Ecosystem as a whole is young.
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To be quite honest... I'm not sure what you are trying to prove here other than the fact that you understand asic development incentives... Barrier to entry is enormous, but it's quite profitable. Trade "decentralization" for "security"... is the best argument.
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Nothing to do with being decentralized
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Sure, not your statement. I would suppose it has everything to do with this: https://www.crypto51.app/ "Cost of a 51% attack"
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