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The E3 isnt stupid, its the people who buy GPUs solely to mine ethereum having a retardation complex thinking that a cryptocurrency can be "resistant to ASICs"
As of now, if you want to get into ETH, buy ETH. Im not getting into sour grapes, but this is because mining is simply not profitable unless you buy at factory prcie and have super cheap Extra High Tension electricity.
What is an ASIC? Application specific IC. An integrated circuit can be made specifically to anything. There is nothing in Ethereum that prevents specialised hardware. A good ASIC for Eth would be one that has the GPU cores, but without the pixel shaders that we dont need, increasing performance, bandwidth per compute core, and decreasing power use.
GPU prices are supposedly going up this year, so even if power efficiency does improve it'll be redundant since you'll have to spend more to get an equivalent amount of hashing power. All of what you've mentioned doesn't even take into account the possibility of bitmain creating a better ASIC down the road. They've already stated 180MH/s is the minimum and it could actually be way more by the time it's released so it's pretty useless to make predictions based preliminary information from bitmain and next to zero information from Nvidia's new graphics cards. It's better to wait and see but as of right now things aren't too promising given casper is nowhere to be found and Vitalik has already rejected a hard fork.
Not stupid at all... they're already obsolete before hitting the market.. Bitmain have knackered them for months and they're gripped by the height of the mining difficulty anyway... It's like you dumping your second hand mining GPUs on unsuspecting gamers begging for cheap knock offs
You are getting crazy on mining. I feel as though you are becoming hungry and becoming blind to the long term consequences of mining cryptocurrencies.
cryptocurrencies are not the future.... these miners are all crazy over them cause they think this is a get rich quick scheme....
It is not... you are not gonna become a millionare ....
Bitmain is not a hardware manufacturer seller. They produce for themselfs, they use it to mine themselfs. If it looks like the profitability is getting worse, they sell off their hardware. Like miners do with GPUs, bitmain does the same.
So if they anounce a eth-miner, they actually had them months ago and used them to mine
....and now they're 2150 dolllars....so guess you were wrong for 800 dollars. We miners talk about how long it takes to break even...well 800 is muuch much lower than 2400 dollars....1600 difference like you mention so it definitely isn't stupid in hindsight.
My guess: This is old technology Bitmain has been mining in secret with those for a while. Now that Etherium isn't as profitable as it used to be and new generation GPUs are comming out soon , Bitmain is selling out their old used miners while they can still get a quick buck out of them before Etherium switches to Proof of Stake... (hum.... steak....) I will NOT buy one of those...
1 of my 8 GPU rigs do 230 MH/s @ 1050 Watts, it would be 1020 Watts... BUT I do got the fans preset on all cards (which are all MSI GAMING X cards) to be at 70% speed.
But, 850 Watts mining 6600 H/s of CryptonightV7 is a BARGAIN!
It is more profitable not only by Hashrate as of now, but in power as well, and those cards stay cooler.
I’m going to laugh so hard if eth becomes PoS instead of PoW and ALL HARDWARE will be worthless. The only thing you would be able to use any gpu or asic for would be the daggerhashimotto protocol altcoins, or other coins that aren’t part of the Ethereum ecosystem. Makes me want to invest in some of the smaller PoW coins and their networks. After all, the value of the coin tends to shadow the increase in size of their computational network of miners...
Erm, no. Sure 6 graphics cards will perform as well as this miner, but can you get all of them + PSU + motherboard + CPU for $800? No? Then this ASIC is better for mining. Stop dancing about the screen, have that poo, and think about this properly. You could buy 4 of these ASIC miners for the same price as that GPU set up.
Proof of work (POW) coins are fast becoming an ongoing disaster to our planet. Opening our doors to ASIC mining will lead us the way Bitcoin has gone. Centralization and extreme powerconsumption as an ultimate result. Massive enviromental waste. We need to move on and away from POW mining, specifically ASIC mining. Ethereum mining is anyway going over to Proof of stake (POS). POS coins are the future. Usage of cheap laptops and stake your coins to support the network and earn passive income. If you want a much much better alternative to ASIC mining coins (BTC, BCH, ETH etc), check this video out: /watch?v=AXk_8lLFInc
A few points to consider THERE IS A MAINIA CRYPTO BUBBLE right now even after the price crashes. Everyone and their dog wants in. If you are informed and have been here, then you are shaking your head at what these people will toss money at: but the fact is they don't know they will lose money and will CHASE ALMOST ANYTHING CRYPTO. So when you look at that Bitmain releasing this now while those people will buy it is a no-brainer.
I don't get it. $800 for 180MH/s beats any next gen card. Even if by some miracle Nvidia releases a card that has 180MH/s in ETH it won't be less than $800, then you add the cost of building other pc parts. I get that you're mad about this being more efficient than GPUs but you shouldn't let personal feelings affect your judgment.
That being said, what do you think will happend when GDDR6/HBM2 becomes normal and the tons of leftover GDDR5 chips are sold for nothing, THERE you will see the memory hard algorithms get new faster asics.
Ethereum is so memory heavy that an asic aint helping it much, with sha256 you got all the stuff going inside the processor, you can make a curcuit that calculate that (and this has been done long time agp), but you cant overcome limits in ram speeds with a intrgrated circuit.
Another example is litecoin, now litecoin is somewhat more 50/50 on the processor and ram, if you were one of those that mined litecoin on gpu's back in the days you might have noticed that it did only put like 25% load on the memory controller, this is why you have not seen any new much faster asic for litecoin since L3/BM1485, as you do with the processor only algorithms, there was a great initial boost from moving the processor cycles to a circuit, but now its limited by the memory speed. You cant think your way out of that one like you can with sha256 x11 etc etc, there you can just come up with a more clever design for the integrated cirguit and boom you have more hashrate.
Not to mention, ethereum IS mapped for PROOF of stake in less than a year. That means these things have a life of about 9 months tops. Type in the numbers in any mining calculator = fail. Won't even pay for itself before it's all over. Not to mention daily rising difficulty, which is another profit killer. Bitmain=fail.
It seems GPU mining has gone out of fashion finally :) Now for first time in a long while stores have GTX1080ti and similar at storage and NO ONE is bying them !!! Soon prices on GPUs will drop specially when miners start selling their rigs. ROI on GPU mining is already 2-4 years and the profit have been going down slowly and steadily for months. If you absolutely want to make money on crupto currency trading will make a lot more money much much faster...
Stupid.. Yes! (Thank God!) Normally I hate ASIC sucks since they destroy the mining network (and they compromise decentralization). This I don't think Bitmain will have any succes with this one.
180 Mh/s = Same as 4x RX Vega 64. These use about 150-160W each @ 44,2Mh/s when tweaked properly + CPU/mobo etc. Still less than 800W from the wall. And that is STILL not really profitable is the current ETH state (with power costs in the higher end).
Sure.. 2400$ (600$ per card MSRP) BUT the 4 Vega cards have value to do other things (like gaming / deep learning) after the mining stops. One can build 4 awesome Gaming PC's with them next year. Vega 64 will age like fine wine regarding gaming.
The Asic will be just a paperweight.
I think ETH is difficult to make an ASIC for, since it is (almost only) memory optimized algo.
Rx580's are commonly over 400.00 a piece for just the 4gb models right now...6 of those =2400.00 + tax, plus cost of the actual pc and risers, psu etc...so basically its 800.00 vs 3,000.00 ...For the same performance.... Im not a fan of Asic, but that's definitely a cost savings vs buying GPUs at current market prices
lol Pascal and Vega are not going to be obsolete
are you expecting a big 100% leap in performance or what ?!
AT best the next xx80 ti is going to be 30-35% better than the 1080 ti
The next xx80 will be about on par with the 1080 ti but draw 30-40% less power <- (thats very good)
My point is that this ASIC is still going to be competitive with the next gen of GPU because of the 800$ price tag.
If this is not just a scam we will be swimming in used gpus. And it is not like you buy this and you are all set. If everyone buys this making it the standard you will simply get less coins for the same work. And that leads to the miners having to upgrade every now and then. The big money was in trading the coins for money when its price was high af. Or am I missing something?
No matter how you look at it, more miners (GPU's or ASIC's) means LESS profitability.
More miners in ANY capacity drive difficulty up and means miners of ALL kinds get smaller and smaller slices of the same pie.
PS, love the way you tagged the outro on just long enough to get the video over 10 mins so it can qualify for ad revenue...
ETH is memory bandwidth limited. It doesn't matter which architecture you use, or even if you use an asic. Not even Nvidia can get around that with their dedicated cards. If you want more efficiency you have to use HBM memory. Doesn't matter if it's connected to a gpu or an asic.
They are releasing it because they've been using it for a while and now people know and there will be a fork rendering them useless. This exactly what they did with the cryptonight miner. Monero forked rendering the ASIC useless. Difficulty went down 75% proving that majority of monero hash was ASICs and Bitmain sells used crap. Bitmain is the biggest miner.
ASICs will help other people to speed up and gain some coins. Compare it to experience boost for newbies in games. No one is against it there, so why not doing same thing here. After all, cryptocurrency mining is just a one big hobby/play project. Just find yourself a real job guys.
One thing about ASIC: when maker are selling them its because they alredy have something more profitable and they want to make some rooms (same happen when bitcoin ASIC begin) so dont expect ROI on them soon
I don't have a rig setup at all for mining so I'm getting me one of these. From what I understand Bitcoins are two hard to come by these days and getting slower and slower pickings. By the time I buy video cards in a gaming machine and whatever else I need to make it all work I might as well buy This Miner and get it done with. No extra cost but my electric bill and I got solar panels for that. I think I might even buy two of those at $800 each and see where it takes me from there. I think the worst that can happen is I can end up selling those on eBay for half price after technology gets better and cheaper. So it won't be a total loss plus I get the coins I mind with it.
Rigs can be messy, expensive, and lots could go wrong . I love rigs buy they are expensive to build. I've spent about 1000 on a 3 card rig and it's not that amazing compared to a E3 that cost 200$ less. When GPUs come out they are pretty expensive too, until a good year after release will you see reasonable prices. I don't have the best paying job to buy the high end that still had a better ROI. I need something that has a low initial cost.
My thoughts exactly. This "ASIC" is a remarkably weak device and provides virtually no efficiency gain over what's already out there. The only advantage that it has is the sticker price, but GPUs have way more resell value and can be repurposed for other uses (the E3 is cheaper, but a GPU rig is more valuable). It might provide some more competition in the market, but it's hardly a threat to GPU mining (if anything, it might help lower the price of GPUs, which reduces the one advantage that the E3 has).
And yet, the Ethereum mining community is completely losing their minds over this supposed ASIC and shitting on Vitalik and the developers for not hard-forking, LOL. It's quite amazing how such a mediocre piece of hardware (which won't even be out for several months) can inspire such an emotional reaction.
I get that this dude isnt a fan of ASICs. But at this point the E3 is much more cost effective than building a rig with similar hash. He did briefly touch on cost, but that should be the emphasis. Why would i build a rig at 3x the cost for the same hash? Then he went on to mention the new mining specific cards coming out- but again, build cost for a similar rig will be at least 2x that of the ASIC. That being said, i AM NOT buying an E3 and i do not have any GPU rigs so i have no skin in the game. I just think he should be more objective in his analysis.
$300 per rx480 is a lowball price in the current market. $400 is more realistic, meaning $2,400 for 6.
You get 3 times more bang per $ from the ASIC.
Sure new GPU's are coming but nobody knows how they wil perform yet. The 1080 line is dominating AMD right now at every price point, Nvidia's next consumer cards might only be a minor upgrade.
AMD really needs to step up their game with their next line of GPU or face becoming irrelevant in the GPU market and that would be terrible for consumers.
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Capital Markets Blockchains Are Finally Getting Go-Live Dates.
Assembled in New York this week, a handful were even confident enough to give firm timetables for production. For those tired of blue-sky talk, it was refreshing to hear large-scale financial infrastructure projects discussed openly and frankly, in clear terms of where they are and when we can expect to see things going live.
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In the weeds.
The enormity of such a project may not be obvious to those unfamiliar with the creaky plumbing of the capital markets.
At the completion of phase one, DTCC will have nodes set up internally for every firm that it knows will run one, plus some general nodes that will take care of supporting the transactions and processing for the firms that do not wish to support a node of their own.
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The KPMG-led project includes banks like BNP Paribas, Credit Agricole and others, as well as over 400 asset managers. The technology used is ethereum-based Quorum, the popular open-source project run by JP Morgan.