Has Vitalik's ASIC-resistance theory worked out?

philipkdphilipkd Member Posts: 5
I'm researching Ethereum mining, and I read Vitalik's interesting essay on how to design a mining algorithm. In the last paragraph, he said that as long as ASIC speedup is less than (H+E) / E, then it won't be economically feasible to buy ASICs. Has that proven out? Has the dream come true, that Ethereum is just mined by hobbyists with spare cycles on their purchased-for-other-purposes GPUs? Or are we / will we see the rise of specialized mining farms?

Comments

  • GenoilGenoil 0xeb9310b185455f863f526dab3d245809f6854b4dMember Posts: 769 ✭✭✭
    There are plenty of professional farms mining eth with dozens of GPUs especially bought for mining. I don't know how different that is from ASICs.
  • philipkdphilipkd Member Posts: 5
    Ah okay. Yeah, sorry I should have clarified. It seemed that Vitalik wanted to disincentive professional miners over amateur ones in his essay. I guess with GPU farms, it probably means the dream hasn't come quite true.
  • davidrentaodavidrentao Member Posts: 60
    ETH are great project in this year, but i don think so it's will be success,such as PIO+POW, or like BTS style before years? ASIC miner coming out when ETH market bombing, just maybe.
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    @philipkd, one of the main ideas behind ASIC resistance is to switch over to POS before ASIC's can be developed. The other is to make the algo memory hard by requiring general and randomised memory access and relying on the notion that existing commodity memory such as GDDR5 is already as generalised and efficient for the task as any ASIC could hope to be.

    I imagine a dedicated OpenCL compute card - minus all the graphics guff - could tweek out better performance, but I doubt after the development effort it would be as economical as consumer GPU's over the POW period.

    As for the mining farms, yeah, there out there. Have a look at the show us your rigs thread
  • philipkdphilipkd Member Posts: 5
    Do you think any of this kind of equipment would help with mining Ethereum: http://www.onestopsystems.com
  • GenoilGenoil 0xeb9310b185455f863f526dab3d245809f6854b4dMember Posts: 769 ✭✭✭
    No, way too expensive. The best choice (for mining ETH) from what they offer would be the AMD S9170, but for the price of just one of these cards you could buy all the hardware needed to build a mining rig with 5-10 times the hashing power.
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