Teeqoz on 14 February 2018
| Arkaign said: Crypto went away from GPUs and onto ASICs back in like 2014, and then coins that once again leveraged GPUs came back. Ugh. I am not opposed to cryptocurrency. At all. But I really think it's distasteful and severely wasteful for this to be a GPU-using business. The wasted electricity and economic waste are astonishing. Outside of a handful of coins which further protein folding simulation and other actually useful things to science and humanity, drawing mass power and heat output from GPU mining is a joke when it's just arbitrary numbers. If an ASIC can be made to take over Ether/etc, it would be extremely helpful in so, so many ways. |
I wonder when this will start affecting electricity prices. Eventually, crypto-mining, wether GPU-based or ASIC-based will have its margins shaved razor thin, so this particular problem of GPU pricing will be solved, one way or another. But the power issue remains, and indeed, it's a rather wasteful concept in its current form, with the exception of a handful of coins like you say.
EDIT: However there are some things like Proof of Stake that tackles the power issue as well.
Last edited by Teeqoz - on 14 February 2018
