One of the world's biggest technology hardware makers has declared new graphics cards (GPUs) aimed at the cryptocurrency mining marketplace.
Taiwan-based maker Asus revealed the Mining RX 470 and Mining P106, which were designed to handle the energy and heat intensive procedure of mining. Although not expressly pitched as such, the release will be definitely aimed at capturing some of the interest in mining ethereum.
Bitcoin mining, by comparison, has evolved to a stage where application-specific integrated circuits, or ASICs, need to compete. Cryptocurrency mining is a process where new transaction blocks into the distributed network. When this occurs, new blockchain tokens are introduced to the system and also awarded to the miner as compensation -- in this case, a gain is achieved when the cost of electricity and the operation itself is lower compared to the earnings generated by selling these tokens.
According to today's Asus statement, the newest cards have been "designed especially for coin mining, positioning the goods as capable of providing "maximum mega hash speeds at minimal cost". Interest in cryptocurrency mining has led to reported deficits of all GPUs in the global market. 1 hobbyist miner recently told CoinDesk that local technology shops have run low on the cards, adding that online marketplaces like Newegg, Amazon and eBay, among others, can also be mainly from stock.
It is a situation that echoes the earlier "GPU rush" from 2014, when mining activity around choice cryptocurrencies such as dogecoin and litecoin resulted in similar cost increases and a decline in available stock. Shortages aside, ethereum network data suggests that more hash speed is coming to ply as time goes on. According to Etherchain.org, the mining issue -- which rises since more hashing power is brought online -- almost tripled from 27th April to 27th June.
These companies are trying to be quick to market but missed the boat a bit IMO. These cards have virtually zero resale value and mining will be obsolete with each cascading coin going to a PoS approach. These cards will either be hot for a moment for those FOMO miners or straight fall on their face
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badass
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Well, I asume the actual rush as a hype and most private miners will be out of the game sooner then later. But I may be wrong. Nice post btw. :) left you a follow.
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Source: http://www.coindesk.com/asus-announces-new-graphics-cards-focused-cryptocurrency-mining/
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