Hi, this is Wayne again with a topic “Will GPUs FINALLY Get Cheaper Soon?”.
When we started putting this video together, gpu prices were still pretty high, but the supply situation was starting to get just a little bit better. So does that mean that nvidia and amd have found a way to make more chips? Not exactly it turns out. Prices were gently dropping because of miners trying to liquidate their stock of gpus. In fact, over in china used graphics cards were practically flooding the market. I mean think about how insane it is these days to get a 30-70 for 400 bucks. You see. Ethereum is currently the most popular cryptocurrency that people are mining on graphics cards because, unlike bitcoin, it’s still often profitable to do so, but similarly to bitcoin, the difficulty of mining ether is gradually getting harder and harder, meaning you get less of a payout for the same Amount of competitional power, your gpu expense. This is all leading up to the launch of ethereum 2.0, which won’t rely on gpu mining at all or any mining. And yes, although we already have had the london hard fork, which some people believed would cause gpu prices to fall, we haven’t gotten the full ethereum 2.0 release. Just yet the current ethereum uses a consensus mechanism called proof of work where you get rewarded, because your system expended energy working on a cryptographic problem, but ethereum 2.0 will scrap proof of work entirely and instead move to proof of stake. But don’t worry if you’re vegan as there’s no red meat involved, proof of stake means that ethereum rewards won’t be decided by how good of a gpu or asic miner you have instead you’ll need to already have some ether on the network staked on the network.
This is the stake in proof of stake, the more ether you have staked the higher the probability of being assigned transactions to validate and the higher the amount of cryptocurrency you ultimately get paid. Of course, this means you’ll have to keep some ether on the network. Instead of just selling it for real money but you’re just holding it all anyway right now, this might sound not too great. If you don’t already have a fair amount of ether saved up, but you can still grow how much you have over time with proof of stake, even though the official amount needed to stake is 32 ether around 125 000 us at the time we wrote this video, You should still be able to join a pool with far less crypto on hand.
Similarly, how current mining pools work we’re all in this together, but why is ethereum moving to proof of stake? Well, one big concern is the environmental impact of the current proof of work scheme. As you know, mining crypto on gpus or asics is an incredibly power hungry process and taking the vast majority of the number crunching out of the equation, no pun intended will go a long way toward a cleaner future for crypto. Another huge advantage is speed. Getting rid of ethereum’s dependence on proof of work means transactions can be processed much more quickly, instead of its current rate of approximately 15 to 30 transactions every second, we could instead see numbers closer to 2000 to 100 000 transactions per second, which may give ethereum more Appeal as a mainstream blockchain protocol throughput will also be helped along by a technique called sharding oops, where each computer doesn’t have to hold a copy of the entire blockchain sharding with a d guys.
But when can we expect ethereum 2.0 to replace the current system? Well, reports are indicating that it could happen by late 2021 or early 2022, so be on the lookout for this. If you’re a miner or even if you don’t care at all about crypto and just want to play some games, hopefully there will be actually an affordable used, graphics card under your christmas tree in your easter basket. As miners offload them, i’m assuming they don’t just find something else to mine.
Maybe this is a good time for us to launch this linus coin: big thanks to brilliant for sponsoring this video brilliant is a website and app that makes learning accessible and fun. It uses active learning with problem solving and interactive visual concepts. There’S no grades, there’s no long lectures or strict time limits.
They do offer over 60 courses on everything from astronomy to programming with python. One of the courses that we suggest is the calculus in a nutshell course: you’ll get a clear sense of the major pillars of calculus limits: derivatives, integrals and infinite sums, with new sections that are more interactive than ever so join the community of over 8 million learners And educators today, the first 200 people who head to brilliant.org techwiki, will get 20 off an annual premium subscription. So thanks for watching guys, if you like this video hit like hit, subscribe and hit us up in the comment section with your suggestions of videos and topics that we should cover in the future. .
