The field of cryptocurrencies, at least for the majority of the population, and even for many developers, investors and traders, is primarily a software business. This means that they are interested in digital applications that can be used in connection with a bitcoin, ethereum or other blockchain digital currency network. For all of these individuals, the background hardware that enables the entire network is not considered as important. While we can safely assume that none will forget that it exists, the interest in miner hardware offered by non-miners is minimal for all networks.
But recently, a huge computer hardware company made an interesting announcement on the subject, suppressing many in the field of digital currency. The company in question, if Taiwan’s Asus and their new graphics processing units, are sold with features that make them very efficient in the hash, also known as coin mining process.
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Asus Mining series
The news came when the company unveiled its Mining P106 and Mining RX 470 graphics cards. Both are specifically designed to handle the heat and energy of the mining process. Because extraction calculations are extremely intensive, mining equipment, which is usually made up of GPUs, is very robust and needs to focus on their primary task. There is virtually no user interface or any other element of a standard computer, so the rigs are placed online, and here they are responsible for the pieces of code on their network.
However, it is interesting to note that Asus did not designate these graphics cards as an element of future mining equipment. However, people did not have to figure out for a long time, mainly based on the presentation of their products and their specifications, that they were created at the heart of the mining-etreum. The largest network supporting digital currency, bitcoin, has surpassed the level of individual mining.
At its current stage, bitcoin mines use so-called ASICs or application-specific integrated circuits. BTC is widespread and is used for everything in online poker that bitcoin uses for investments. Because of this, the mines used to support the network are huge mining systems that are light years away from all home mining operations.
But now it seems that Asus is offering an interesting offer for anyone who is in a digital currency, but not specifically bitcoin. With the mining potential of ethereum, Asus clearly believes that it is necessary to make a profit by supplying this market.
Ethereum mining
Asus considers graphics cards to be branded, developed for coin mining, so they are able to provide maximum extraction speeds while operating at minimal cost. With this, it is clear that Asus will do anything but call their cards mining items.
The news is that the lack of graphics cards is affecting most regions of the world. Hobby miners have reported that many local stores are running out of these products, while huge online retailers like eBay or Amazon are also running out of stock.
For some, this is all the hallmark of the GPU Rush that took place in 2014. During this period, altcoins, such as litecoin and dogecoin, began to be mined by an increasing number of individuals, purchasing all available sets of graphics cards. This time, ether seems to be the coin of choice for many new miners.
But all those who choose to enter this province will experience an increasing problem in their new operation. While graphics cards sold by Asus may be more efficient, the difficulty of splitting is constantly increasing, as required by the basic network protocol.
In the case of ethereum, the trend shows a threefold level of difficulty that occurred between the end of April and the end of June this year. In the long run, the same difficulty will continue to grow, and it’s only a matter of time before the network will have to switch to the settings used by BTC miners for a long time.
Investing in Ethereum?
The month of June 2017 was a period when many believed that a so-called reversal would occur in which ethereum would take over bitcoin as a leader when it comes to market foreclosure. In recent days, however, nothing has happened as ETH has started to slip in price.
It is now hovering around $ 250, and signs of a short-term recovery of the network are doubtful at best. One of the main reasons why so many ETHs have been sold is the fact that more ICOs have started withdrawing funds , fueled by investors, hoping to make bigger profits in less time.
But anyone who starts mining the ETH needs to be ready for a long-term investment. If not, they need to have big trading instincts for a steady flow of profits. The same problem does not exist when it comes to long-term ethereum investment, and it does not change with one or even more price declines in global markets.
The latent strength of the network
Despite the decline, many experts have reiterated their view that this digital currency will remain very relevant, but will also result in a major breakthrough in the future. When that happens, they bring great benefits, especially when it comes to the miners who saved their coins.
Flipping may not come in as intense a form as its name suggests – currently smart money says it will happen, but no one can say for sure when. But the consensus is that the value and market position of the ethereum network will increase. Because of this, anyone who has started mining the ETH would do well to keep their coins and wait for the price increase that will undoubtedly occur.
Source: CoinDesk
