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Offline bytemaster

GPU Miners are here... if rumors are to be believed!
« on: November 22, 2013, 04:47:22 PM »

My sources report that a GPU miner has been found in the wild and will soon make an appearance in a new pool.   I thought I would start a thread to discuss the implications.   According to my sources a mid-range GPU is able to crank out about 500 HPM which is in line with high end CPUs.   

I find this result very encouraging because the midrange GPU is only 3 to 4x faster than the mid range CPU and about on par with the high-end CPU mining we have seen. 

A new pool will be forming that will compete with y pool which will be good for the community.   Now that you all know it is possible I suggest that someone move quickly to compete before this GPU miner takes over like y pool.
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Offline Sy

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #1 on: November 22, 2013, 04:51:50 PM »
A 5870 runs at 420 cpm so a 7950 should run at around 700-800 cpm i guess, which turns a 4 gpu 7950 rig into a 2800-3200 cpm beast beating every "high end" cpu out there easily.

You need 9 32 core c3 amazon instances to get that number, running at roughly 4.5$ per hour, a quad 7950 rig draws around 1.2 KW -> even in sucky Germany lousy 30 Cent per hour. Around the world even below 10.

Come again why this is good? This makes PTS more profitable than LTC and you don't want big farms to switch...this might push out cpus pretty quickly, making it a bit more specialised.
« Last Edit: November 22, 2013, 04:54:37 PM by Sy »
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Offline bytemaster

Re: GPU Miners are here... if rumors are to be believed!
« Reply #2 on: November 22, 2013, 04:57:36 PM »
A 5870 runs at 420 cpm so a 7950 should run at around 700-800 cpm i guess, which turns a 4 gpu 7950 rig into a 2800-3200 cpm beast beating every "high end" cpu out there easily.

You need 9 32 core c3 amazon instances to get that number, running at roughly 4.5$ per hour, a quad 7950 rig draws around 1.2 KW -> even in sucky Germany lousy 30 Cent per hour. Around the world even below 10.

Come again why this is good? This makes PTS more profitable than LTC and you don't want big farms to switch...

Actually, if the big LTC farms were to switch then we would pull in a large number of LTC users who would learn about us.   Despite having that much hash power, they would still end up with less than 25% of the money supply because most of it was already mined by CPUs.    It would end the profiting of botnets and over all be better.

The key thing is that GPU is not centralizing as everyone has a GPU and just like some people have CPUs that can only do 50 HPM while others have CPUs that can do 500 HPM, you will still see the same division once GPU mining is the norm. 

The point is that early adopters have had a chance to CPU mine and should consider buying rather than mining if they really want to see a return on their investment.   We had to switch from a plan that called for mining to one where we bought it off of the market simply because even with 100 computers the amount that we could mine would be insignificant compared to selling the computers and buying the coin. 
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Offline fav

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #3 on: November 22, 2013, 05:00:08 PM »
there will still be a new gap with gpu.

I use nvidia for gaming, and they're garbage for mining, afaik.
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Offline Sy

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #4 on: November 22, 2013, 05:06:30 PM »
Let's see where this goes, i fear that it will turn to "just another gpu coin" cpu coins are in fact kinda special...
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Offline smokim11

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #5 on: November 22, 2013, 05:22:09 PM »
If there is a gpu miner, PTS will be mined super fast way before the 2 years are reached and there's only 2 million PTS.

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Offline bytemaster

Re: GPU Miners are here... if rumors are to be believed!
« Reply #6 on: November 22, 2013, 05:41:42 PM »
Difficulty is still increasing and rewards falling.    The next million will take a lot longer to mine. 


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Offline Sy

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #7 on: November 22, 2013, 06:15:58 PM »
Difficulty is still increasing and rewards falling.    The next million will take a lot longer to mine. 

True but diff time has ben undercut by factor 4 so far so we are done in roughly 6-8 month if this continues ^^
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Offline GotExams

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #8 on: November 22, 2013, 06:20:19 PM »
Difficulty is still increasing and rewards falling.    The next million will take a lot longer to mine. 

True but diff time has ben undercut by factor 4 so far so we are done in roughly 6-8 month if this continues ^^

So? That should be positive. It is just like Monopoly, the game. When all resources are taken out there will be higher bids on the resources. It is only positive, imo.

Offline phoenix

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #9 on: November 22, 2013, 07:21:38 PM »
Difficulty is still increasing and rewards falling.    The next million will take a lot longer to mine. 

True but diff time has ben undercut by factor 4 so far so we are done in roughly 6-8 month if this continues ^^

So? That should be positive. It is just like Monopoly, the game. When all resources are taken out there will be higher bids on the resources. It is only positive, imo.

But once a coin is all mined out, the only incentive to mine is for the transaction fees, which won't provide anywhere near as much income for miners as blocks do
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Offline GotExams

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #10 on: November 22, 2013, 07:26:52 PM »
Difficulty is still increasing and rewards falling.    The next million will take a lot longer to mine. 

True but diff time has ben undercut by factor 4 so far so we are done in roughly 6-8 month if this continues ^^

So? That should be positive. It is just like Monopoly, the game. When all resources are taken out there will be higher bids on the resources. It is only positive, imo.

But once a coin is all mined out, the only incentive to mine is for the transaction fees, which won't provide anywhere near as much income for miners as blocks do

Then we would need to create a DAC for keeping transactions up. Simple as that.

Offline crendore

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #11 on: November 22, 2013, 08:02:15 PM »
Does this mean someone won the $5000 prize for proving you wrong?

Offline Amazon

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #12 on: November 22, 2013, 08:34:35 PM »
Does this mean someone won the $5000 prize for proving you wrong?

It is already paid http://bitsharestalk.org/index.php?topic=22.0
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Offline grubles

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #13 on: November 22, 2013, 08:41:49 PM »
Tell your sources to open source the gpu miner for the good of all of us currently mining. Thanks.

Offline smokim11

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Re: GPU Miners are here... if rumors are to be believed!
« Reply #14 on: November 22, 2013, 09:08:00 PM »
Tell your sources to open source the gpu miner for the good of all of us currently mining. Thanks.

I just shutdown my CPU mining operation. Will wait for the GPU miner if there is really one.
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