HawaiianBrian:

Cant wait for this crap Cryptocoin mining fad to fail. That will be fun. Yes sir.

It will not fail until governments start to regulate and tax it. or in extreme cases: ban it.

sammarbella:

I wish Samsung all the best for this product.AMD "gaming" GPU sales dep should be worried...

Bitcoin is not mined with GPU's. Neither AMD and Nvidia would be affected. I do hope this ends soon, or I'll never be able to afford GPU's anymore.

Well good news for Samsung Link : https://overclock3d.net/news/software/samsung_has_dethroned_intel_to_become_the_world_s_largest_chipmaker/1

sammarbella:

I wish Samsung all the best for this product.AMD "gaming" GPU sales dep should be worried...

As stated earlier, GPUs aren't used for Bitcoin mining. But even if they were, AMD already got a saving grace from Ethereum and other currencies, and did financially better than anyone expected as a result. Assuming their (and Nvidia's) claims of "gamers first" is legitimate, I think they're well aware (or ought to be, anyway) that they can't depend on lucking out like this again.

schmidtbag:

As stated earlier, GPUs aren't used for Bitcoin mining. But even if they were, AMD already got a saving grace from Ethereum and other currencies, and did financially better than anyone expected as a result. Assuming their (and Nvidia's) claims of "gamers first" is legitimate, I think they're well aware (or ought to be, anyway) that they can't depend on lucking out like this again.

AMD are going to be cashing in from Ethereum until it's switched to the proof of stake Casper system, and there's no real sign of when that will happen. There's been talk about Ethereum switching to proof of stake for over 2 years at least. It was only live in July 2015, they've been talking about a PoS system pretty much as long as it's existed. I won't believe it until it happens. And until that happens, the gaming market is absolutely fracked as every single mid to high end card instantly sells the moment it's available to a miner. As if the market wasn't already screwed enough with the high end being a monopoly. Gather your pennies to buy an Xbox 2 boys, because you're not going to get a reasonably priced GPU ever again until Ethereum pisses off, assuming something else doesn't replace it. Or until Gandhi reincarnates to smite nVidia and AMD for screwing us all so hard. I'm pretty sure he said he'd do that should the time come.

I saw YouTube started showing ads about mining. This shit is getting out of hand and will cause the world to implode.

I'll wait in the wings patiently till crypto craps then it will be raining 1080Ti'S like pennies, you think Nvidia gives 2 craps about gamers? There 1080 TI'S are going for what a Titan goes for, at this point a titan isn't a bad bet.

It's funny how TV's Smartphones etc etc have "ECO" features, while mining is anything but ECO. I guess Samsung throws ECO right out of the window with this one.

Bubble gets bigger and bigger. We don't need paper currency, however, we need a secure form of digital currency which is based on Something tangible. Crypto isn't that.

labidas:

lol, so what is? It seems all of you don't really get what's going. It's not about currency. It's a technology caled Blockchain and right now we already have new coins and tokens which use so called "Blockchain 4.0". Bitcoin is simply the first chain and doesn't do anything useful other than store value. We all know there are 21 million BTC. This makes it automatically a better store of value than anything physical in this world (gold). Go learn about all the cryptoprojects what they are all about. These aren't just to replace money, lol. And as far as the price of GPUs is concerned: do yourself a favor, go buy any legitimate coin, hold it a month or two and voila, go buy your new GPU and start mining because proof-of-work is slowly going away, this means if you don't get in now you'll most likely miss the "GPUmining"train. Sure, there will always be some POW coins remaining, but I'm betting they won't be very profitable. And for everyone saying this bubble will pop, lol, this thing is just getting started and is the future of basically everything you'll interact with. People laugh at BTC when it drops 30% in a day, what they fail to see is the continued growth over the years and that the drops get smaller and smaller. I mean, you something that has a 1000% growth over the year and people start FUDing over a 30% drop, ridiculous. The market of all Crypto right now is about 0.5Trillion $. People, that's WAY lower than what Apple worth is for example. Cryptos are massively undervalued and will only grow over the years. Mark my words. Get in or get left behind.

https://media.giphy.com/media/Vg0JstydL8HCg/giphy.gif

https://www.forbes.com/sites/sindhujabalaji/2018/02/06/india-is-not-banning-cryptocurrency-heres-what-it-is-doing-instead/#6e4918837c6f

Fox2232:

One should understand Who said What, and What kind of Authority backs those words.

The lack of checking facts is what makes social media the breeding grounds of fake news. And what discerns a real journalist from a blogger. Sadly the difference is unknown to 90% of people using todays media offers. But that's pretty much OT here, sry.

"Money" isn't worth anything. its a currency, based on "a pledge to pay the creditor". When its backed by Real Gold or Real Silver, then its "Real". Banks hold "Virtual money". there isn't anywhere near enough to go around, if everyone wanted to empty their accounts. Gold markets aren't even trading in "Real" Gold anymore, just paper Gold. A Bitcoin is just as "Real" as the money in your pocket, it is just acquired in a different way. people are effectively "paid" for their CPU/GPU cycles used. Blockchain isn't going anywhere soon, its likely to become a major player in the Financial market, its just that it won't be Mineable, like Ripple. A HUGE majority of current Mineable Coins will not have any value at some point in the Future. Hard to say which will be, but currently, there are a few that are doing OK. The Biggie here, is which Coin is this ASIC aiming for ? Most probably NOT Bitcoin. but whichever it is, it will soon no longer be viable to mine it other than with an ASIC. It will all die down in a few years, and it's the countries that are banning it outright that have not got a clue. Banning stuff has ALWAYS worked in the past lol 😉

Off topic : Oh, and If you want to complain about wasting energy, make sure 100% of the population have very good insulation, because there are huge amounts of people literally "burning" through electricity to heat a badly insulated home. Thats not one GPU (which is also helping to heat), but kilowatts of energy per home.

D3M1G0D:

But why would money be "real" when it's backed by gold or silver? After all, those are just shiny rocks, having very little utility or practical value. IMO, gold is the biggest example of something which is valued almost entirely for its aesthetics, and whose value is completely arbitrary. Backing money with gold does not make it any more valuable or "real", it just means you can trade it in for a shiny pebble. Money itself has no inherent value, whether it's gold, paper, or digital coins. What makes it valuable is its ability to purchase goods and services, which is the real wealth in the economy (if you can no longer buy stuff with your money, then it is worthless). In that sense, digital coins like Bitcoin and Ethereum would not be money, as there is very little real goods and services that you can buy with them (if/when Bitcoin can be used to pay off debts then it will be counted as money). Right now, it's best to think of crypto coins as assets (and very speculative assets), and whose value is mostly derived from blockchain technology. As for the topic, it seems to be about ASICs for Bitcoin mining, which won't really impact mining the alt-coins. It won't do much for the current GPU situation, although the crash in crypto prices is starting to take some of the pressure off - GPUs are coming back in stock, at least on Newegg. Although prices are still inflated, they should start to come back down if crypto prices remain depressed.

it hasn't been stated which coin these ASIC's are for, afaik. Bitcoin ASIC's exist, and it would be much more profitable today to have a different coin mined with an ASIC. Gold is expensive, because it is relatively rare, and can be sold and used for jewelery, and other uses. If "Paper" Gold dies, which it may do soon, then the price of Gold will skyrocket. All of those people with "paper" Gold, will suddenly find it is worthless. Money needs to get back to being backed by Gold or Silver, so countries can stop printing the stuff on a whim..... edit : And so that Banks will have to be real banks, and have a good percentage, if not all, of the money backed by Gold or Silver. There will be a lot less Banks.

Evildead666:

"Money" isn't worth anything. its a currency, based on "a pledge to pay the creditor". When its backed by Real Gold or Real Silver, then its "Real". Banks hold "Virtual money". there isn't anywhere near enough to go around, if everyone wanted to empty their accounts. Gold markets aren't even trading in "Real" Gold anymore, just paper Gold. A Bitcoin is just as "Real" as the money in your pocket, it is just acquired in a different way. people are effectively "paid" for their CPU/GPU cycles used. Blockchain isn't going anywhere soon, its likely to become a major player in the Financial market, its just that it won't be Mineable, like Ripple. A HUGE majority of current Mineable Coins will not have any value at some point in the Future. Hard to say which will be, but currently, there are a few that are doing OK. The Biggie here, is which Coin is this ASIC aiming for ? Most probably NOT Bitcoin. but whichever it is, it will soon no longer be viable to mine it other than with an ASIC. It will all die down in a few years, and it's the countries that are banning it outright that have not got a clue. Banning stuff has ALWAYS worked in the past lol 😉

I agree with you. First paragraphs, spot on. And that's the issue. No coin is based on any real world value. So it's bound to be either overrated or destroyed at some point. That our "real world" financial system has surpassed any real world wealth and backing by anything of worth is exactly why the system will crash at some point, too. Generating money out of interest that is not backed by any real world worth is the essential issue with the financial system we live in today, be it government issued money or whatever else you want. If we ever have a crash of society or financial structures that we know of today, even our paper money will be worth nothing. First we will trade again, and later there will be money agian, etc., starting over from the beginning.