Bitmain has officially released their Ethereum ASIC cryptocurrency miner the Bitmain Antminer E3 hashing 180 mh/s on Ethash (Ethereum, Etheruem Classic, PIRL, UBIQ, and more) and consuming 800 watts. The performance is not much different than an Ethereum GPU Mining Rig especially when graphics card prices were lower but the price to profitability of the Bitmain Antminer E3 may alarm you.
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Bitmain is a Chinese Government entity. That Antminer you bought was USED by Bitmain to drive up the difficulty level BEFORE they sold it to you to earn MORE profit. When Monero forked the network difficulty level DROPPED by 80%.
Mining Monero is NOW profitable. ETH is a waste of money until it FORKS.
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Fuck centralisation and then buy Nvidia or AMD cards, only two companies making core parts - gpu. Where is logic in that?. Funniest thing - both companies have headquaters almost right on each other in Santa Clara. This is your decentralization?. When their IT guys are going for coffee together on each break?
Asics are cure for all of this crypto nonsense, anyone can buy, and companies making them (not only bitmain) are not in such close relations like AMD and Nvidia.
Only big owhers of thoose currencies have sole interest to fork them in order to maintain their ownership status, too bad most people are too dumb to see it.
Look, Bitmain got hammered with the monero fork. Look at the price drop on the ASIC. The E3 is most likely a detuned F3. Bitmain releases a "slow" eth miner to see what the devs do. No fork, then the F3 gets drop sometime later, only doing 500+mh. Something to think about.
ASIC resistance doesn't mean ASIC proof. Vitalik has even commented early on that eventually there would likely be the creation of an ASIC machine for ETHASH if the algorithm proved profitable enough for the creation of a more efficient machine. Ultimately, bitmain and any other ASIC producer will chase the most profitable algorithms. The same reason us miners chase the most profitable coin. Very few people are truly altruistic and run nodes or secure the network with hashing power without any gain on their part (not always purely financial). I bet these things are already running in their mining facilities, kind of makes sense considering that the ETH mining took a substantial hit in difficulty about 2-3 weeks prior to this announcement.
I've stated before that i do like asic miners, but I think they need to stick to LTC and similar algos. It should be split, asic should leave eth alone... gpu mining is a love for mining in a whole and should always have its place in cryptocurrency
Do you think the future for GPU miners is going to be new shit coins? Raven/Pigeon ????? Or will there be some asic retaliation? Also, do you think coin companies have any preference GPU/ASIC mining? How does it affect them, if at all?
If Ethereum forks, it will hurt many people who invested in Ethereum. Miners are few and I am against forking for that. Amd aside from Monero has been a cemetery for mining for many months. Times have officially moved on sadly. Nvidia miners do just about 95% of the new and profitable coins. People invested in Nvidia farms, they don't have AMD farms being made any longer. If Monero doesnt make an AMD centric miner, things are really done for Vega. It is strange how no one makes coins for Vega. It is a scientific powerhouse.
Profitability calculator states that ROI with PSU is around 12 months with a 180 mhs device. When thousands of these hit the market, 180 mhs will effectively be reduced to 120 mhs if lucky, leading to a hardly profitable piece of crap. I'd much rather get 1 Volta when they are released than this glorified paperweight.
The E3 isn't scheduled to ship until mid to late July...3.5 to 4 months away. Who knows what will happen by then. If Crypto prices don't go up, I won't be buying any more rigs. Also, by that time new GPUs could be out that are MUCH faster and can still mine multiple algos...unlike the E3. The fact that Bitmain priced this so low is a sure sign that its thought to be a loser by the time it ships.
Their mission statement says "ASIC Resistant" not "ASIC Proof", so by not forking ASIC's off their network they are not at all breaking their mission statement. ETH *HAS* been "resistant" to ASIC's until now... Now that there exists an ASIC that can penetrate this "resistance" I don't see that they're "obligated" to fork it off. (Although that IS what I'd personally like them to do, but if they didn't I wouldn't point to their mission statement and claim they are breaking it.)
I say bring on the ASICs. Lots of reasons. Not in any order:
1) Better for the environment (more hash/watt)
2) Keeps GPUs in the hands of gamers
3) No algo is ASIC proof. Prepare for a re-fork every 6 months if this becomes policy.
4) Consolidation of wealth is NATURAL and UNAVOIDABLE. Deal with it. Look up the "Pareto Distribution".
5) ASICs are good for a network's image. It shows that it's taken seriously enough to build a hardware industry around.
Just a bunch of amateur miners up in here (not you Vosk), worried their 4-card rig won't generate that sweet $40 dollars profit every month. Get over it. Crypto mining is a business. You want to make the big bucks? Then put some real skin in the game. Go raise some venture capital, or get a loan, and build a real farm that makes real money. Don't whine about "consolildation" and "bitman", when you are "mining" ETH from your wife's bathroom. Go big, work hard, and embrace change. That's how you succeed. That's how Vosk is succeeding.
hi has any one got minepeon working on the raspberry pi3 B yet if so please help.
I have got the raspbian os working but when i put the minepeon so in it i get no boot up at all
and putty dose not find the minepeon but will on the raspbian. please email me at (danieljaksic35gmail.com) or if it Australia /Perth we can chat.
cheese :( ??? ???
I have a rough idea of its performance back then which is multiples of the 256-bit GDDR5 memory found in the RX570,RX580, or GTX 1070. This seems like 6 GPUs per box, 180MH/30 MH. This probably explains its size and weight. My prediction for the price was way off though as I thought it will cost in multiples of a GTX 1070. The price of 30MH/s in the E3 is less than an RX 570 at MSRP. I was truly surprised with the price which means many things.
1-There is no or little shortage of the graphics memory. 2-Cost of the GDDR5 memory is not much.
Summary: 1 - It is a loss if one starts to build an eth mining rig today and those who started in February with mining difficulty and GPU costs are high. 2 - We will more likely see price drops on AMD graphics cards soon but not Nvidia. 3 - My eth mining rigs will be useless after the month of July when these E3s becomes online. 4 - It will take a new memory intensive algorithm and coin for my rigs to become useful. I hope for good news to come as I don't want to sell any of my rigs or, better, build more AMD based rigs.
I also received email from Bitmain that they increased the limit to 5 miners for each user so mining difficulty will not be gradual. It is truly a wave of bad news since the peak of crypto.
It's an ok option, 180 mh with 800 watt is on par with GPUs, now the problem is how reliable it is, I know if I burn a gpu I open an RMA and get a new one in the mail after a week, with bitmain if it burns in a month you out of $800
Is this even an ASIC? Strikes me as a cheaper GPU rig. It looks like it's about the size of 5-6 GPU's and shockingly has the power of 5-6 GPU's. The wattage seems like an improvement and the price is great but that's about it.
if this is not asic (gpu tech or fpga based), its programmable to the modified algo of a hard fork
as its not orders of magnitude more powerful than existing hardware we don't know what the current total hash power of these are or the impact of future hash power if they are mass produced
given all that eth will probably stick with the status quo . given the cheap price bitmain have mined them to their usefulness and are dumping them . likely because the general increase in hash power across all platforms has rendered them unprofitable
I think this is awesome for the first time we have some real competition for AVGA and MSI. What they are going to do now. They can’t change whatever they want for GPU not more. We need to see the good side because at the end of the day we are miners for the profit not for fun or because we love GPU. I think the price is right.
Why announce something that won't be delivered until July? Maybe they are testing the water to see what the Eth community's response would be, so they can figure out how much to invest in the NEXT version of E3 with 4x hash rate. Its virtually risk free for them to mine with E3 until July and then dump them on individuals bad with math ?!
So you spend 1000 bucks on a dedicated machine that you couldn't build for less than 1800-2400 or could you? You wire the monies and you wait at least 3 months. I don't know very much about the future but that sure seems like a bit of a risk considering that these organizations can put together a fork if and when they need to and that the difficulty will keep going up. The price seems almost as if they're cheap selling to help guarantee turn on these machines. Are they planning on using them before they deliver, are they already built or are they trying to call a possible bluff on the fork issue? They have limited the number to one per customer. Are they trying to prove they can build equipment and deliver without harming the ecosystem? If they deliver and the price of hardware to build an equivalent machine with GPU's is still high and nobody forks it could be a very good deal. It's all so crazy. My head hurts. I gotta go.
don't know, I'm mining ETH with 4x Vega 64 and I'm at 176 MH/s @ 820watt... so no big difference with E3 Antminer. Yeah, it is much lower investment... but I feel in the future it will just be an expensive metal coffee table
These GPUs from AMD and Nvidia weren't meant for compute performance in these types of scenarios. It's one of the reasons they have limited vram compared to Quadro or FIRE cards.
ASIC is the future, why fight an uphill battle?
This ASIC puts it at a comparable efficiency to GTX 1060 rigs of the same hashrate. Why fork. Isn't the idea behind forking this rhetoric that an ASIC means centraliztion. How does this lead to centraliztion if its comparable efficiency to AMD and Nvidia hardware. Now the duopoly of AMD and Nvidia hardware is over and a third player is in town. Isn't that good good for decentralization and for GPU prices? People have lost all sense of logic they're just gaining up on Bitmain because it's a popular thing to do.
guyz, you can easily get 210mh for 960-970watt of 7x rx480 reference design... on a 1000w power supply... This miner which wont be available til july/ausgust is barely more efficient than reference rx480s... if you have nitro sapphire you can get even better performance-to-watt efficiency.. furthmore with a special hacked version of claymore you can eliminate dev fees... dont waste your money on this asshole-ish company bitmain
Great post. This is just another reason I like DGB because of the 5 algos and DigiShield. Not shilling a coin however it's just crazy how much DGB has front run a lot of the "new" problems these days and it's still stupid under valued.
Bitman killed all crypto world ...whole purpose off decentralisation and power to people was killed by few companies..its worsted centralisation now then banks ...i am really not any more interested in crypto even i am early adopter like for last 6 years..but i am not interested anymore in making some China company rich
Good vid Vosk :) i would like to poke a fork in that E3 ,,a temporarly solution till ETH and ETC fork (which they will, ETC more than ETH since they staying POW) was about a Smart contract that will make an heavy use of the GDDR5 on GPU and will give a damn hard time to the poor ddr3 in asic and will result with a massive MH drop https://cointelegraph.com/news/monero-and-siacoin-reject-bitmains-asic-miners-who-could-be-next
Bitmain is not calling this an asic. It looks like a modified gpu miner. No where in their description does it say asic. If Ethereum forks all they might have to do is update firmware. This could be a way to mess with Ethereum developers. Get them to fork and just update firmware thus winning their war against anyone who would challenge them.
I've been following you for a while, I understand your stance on asic however your videos as of recent have been more of an opinion about asic, in your stand against asic rather than real info about asic Miner
Four people coming late in the game buying a GPU from Nvidia or another company is ridiculously expensive. And Asic is a smarter option for some of those people.
Minh Van E3 is going to be useless after you receive it, the same shit happen with D3 S9 A3 X3 ex..., it's all a scam by Bitmain, they mine with them until it's not profitable any more and Then they sell them, you're just a new to the game and you don't know what's going on.
If this is GPU based and just a small form factor without being a real "ASIC" , at this price point, it would be a pretty big threat to ALL GPU algos. Am I the only one hoping that it is actually a really crappy asic rather than just a really cheap/powerful GPU miner?
Also, just replying to myself here, if it is is GPU based and can mine other algos, pretty confident that Bitmain would be mining all algos they can on the DL until people find out about their ability.
Hey Vosk, in regards to the whole proof of work thing and regards to devs staying true too their message, Monacoin does exactly what you're saying, they switch algos as soon as an asic comes out, they have it all laid out, went from scrypt to lyra2rev2 a while ago now and if the same thing were to occur, they would simply switch yet again... check it! :) long live HODL!
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