It wouldn’t be a cult without proselytizing, would it? jesus-cleanse cryptocurrency dumpster-fire

  • Sphere [he/him, they/them]@hexbear.net
    link
    fedilink
    English
    arrow-up
    7
    ·
    edit-2
    1 year ago

    No one uses GPUs to mine Bitcoin specifically; GPU mining was on its last legs in 2012 when FPGA mining started up, and by 2014 it was totally dead because ASICs (application-specific integrated circuits, aka custom mining chips) came onto the scene. The GPUs are for altcoins now.

    Source: Was a miner back then; got out in like 2014, after wasting most of my bitcoin buying ASICs that showed up too late to make back what they cost. (But on the bright side, I’d still be an awful smug techbro lib if I’d retired off my bitcoin gains, so in many ways this outcome is better lol)

    • cosecantphi [he/him]@hexbear.net
      link
      fedilink
      English
      arrow-up
      5
      ·
      1 year ago

      No one uses GPUs to mine Bitcoin specifically; GPU mining was on its last legs in 2012 when FPGA mining started up, and by 2014 it was totally dead because ASICs (application-specific integrated circuits, aka custom mining chips) came onto the scene. The GPUs are for altcoins now.

      Yeah, that’s what I was getting at. Back during the early days of bitcoin, it was really the only major cryptocurrency. There didn’t yet exist this kind of incentive to waste an entire small country’s worth of energy and resources to mine the cryptocurrencies that exist now.