>GPUs haven't been used for BTC mining in a long time.
False. For westerners who have to pay market price on electricity that's true, but GPUs have still been used in geographic areas where dirty energy is super cheap of even free for the right connected people (China, Iran, Russia and former Soviet republics, disputed conflict zones in former Yugoslav states, etc.)
That's also where most of the mining is still happening.
Other coins are minable with GPUs (because their algorithm was purposely designed to be ASIC resistant)
But bitcoin has been exclusively ASIC mined since probably 2013 at least
Even with free electricity and stolen GPUs you cannot profitably mine bitcoin (you'd get a fraction of a penny a month, less than the cost of simply storing a gpu)
>> Even with free electricity and stolen GPUs you cannot profitably mine bitcoin (you'd get a fraction of a penny a month, less than the cost of simply storing a gpu)
And even if you could mine it profitably, you would be better off mining the worst shitcoin instead, much less a reasonable alternative like ETH or RVN.
False. If your electricity is free and you can earn $1 mining Bitcoin, or $10 mining Etherium, then you would mine Etherium. You would only mine Bitcoin if you had another reason to want to mint blocks apart from the expected return for minting a Bitcoin. https://whattomine.com/coins?aq_2080Ti=1&a_2080Ti=true (edit: improved wording).
GPUs are being used to mine ETH, not BTC. Hashrate by GPU cards on BTC is tiny compared to ASIC. It takes literally 1000x more power and 1000x the cost at the same hashrate.
Interesting discussion whether GPUs are used or not. i don't know the answer and obviously many others don't.
So instead of being dependent on central banks, crypto is dependent on inside knowledge held by plain criminals or at least very shady businessmen. That much about the openness and transparency in real life.
No one smart enough to mine BTC is dumb enough to use GPUs for it, regardless of the price of electricity. If electricity is so cheap that there's profit to be made from GPU mining, the profit would be astronomically higher with ASIC mining.
None of what you said is accurate. GPU mining is very popular... just not for BTC. Even at discount/free electricity, it's not worth it given the alternatives of mining ETH, XMR, RVN, etc.
False. For westerners who have to pay market price on electricity that's true, but GPUs have still been used in geographic areas where dirty energy is super cheap of even free for the right connected people (China, Iran, Russia and former Soviet republics, disputed conflict zones in former Yugoslav states, etc.)
That's also where most of the mining is still happening.