Is GPU mining worthwhile for any currency? Bitcoin Stack Exchange
I’ve bot under the impression that all proof-of-work mining is now done by ASICs.
Then I witnessed this article, that says,
“AMD shares are surging with bitcoin because digital currency ‘miners’ need its graphics cards”
Is there any truth to this? Or just False News?
There are uncountable digital currencies ter existence, every day fresh ones show up, are pre-released, ICO’d, or are ninja launched.
Bitcoin is SHA-256, which renders mining using CPUs and GPUs pointless because ASIC processors have bot engineered, chips which serve only one purpose, that is to compute/solve/hash SHA-256, and because they are engineered to do only that, they are exponentially more efficient te doing so.
GPUs on the other arm are used to mine coins both by hobbyist miners and large scale GPU farms.
But they aren’t mining Bitcoin, or any other SHA-256, they are mining coins either with fresh POW (Proof of Work) algorithms, or POW algorithms for which no ASICs have yet to be engineered (or are simply not public/available).
For GPU based setups, common algos are X11, X13, X15, Scrypt depending (spil ASICs do exist for Scrypt but were not widely adopted), and many others.
If you only have a single GPU, there is indeed no point whatsoever ter using it to mine a currency, unless it’s your own clone that you’re creating.
You can go on webpagina’s like NiceHash and rent mega power, based on bidding vanaf / g/hash t/hash, and leap te and speculate on what coin may or may not be profitable to mine. One GPU simply wont cut it.
Or you could build GPU mining equipments, using a elementary stengel framework, a low end CPU processor, Four GB of ram, run Ubuntu off a USB stick, and waterachtig Four or Five GPUs on the motherboard using PCI-E Risers. You’ll need a welgevoeglijk 1300w or more PSU, depending on the algo, and you voorwaarde be network and code savvy, spil it’s mostly all still guideline line driven.
If you do so, expect to lose money the very first year, it’s still the wild westelijk, and the only way to learn it is te the trenches.
And to add, yes, AMD shares have bot volatile due to alt-coin news and releases. Spil have prices. Cards, such spil an AMD R9 280x, one of the most popular very first gen cards at the time Altstem Coins came crashing onto the toneel, skyrocketed ter price from $200 to $500 or more on all sites, including Amazon. Spil did all components, PSUs, etc.
Then, they would crash with the market, people would burn out, the secondary market became flooded with people tearing their equipments exclusief and selling off the lumps, and then repeat– fresh coin comes out, it becomes a massive rally, and the card prices would hop back up. sometimes doubling, tripling ter price te days. People made money of that spil well, simply buying GPUs on the crashes and selling on the rally’s.
I often joked that Bitcoin, and straks the alt-coin clones which appeared ter hoards were invented either by the Power Companies, or the Chip/Wafer manufacturers.