AMD Stock Outlook: Why Bitmain’s ASIC Miner Are Not A Threat To AMD

motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology  – Senior Analyst at I Know First

Summary:

  • Ignore the rumor that China-based Bitmain’s ASIC Ether miners will affect GPU sales of AMD and Nvidia.
  • Bitmain now controls 50% of Bitcoin hash rate. It operates the two largest mining pools for Bitcoin.
  • The developers and current miners of ASIC-resistant Ether and Monero blockchain certainly do not want Bitmain to again get 50% or more of their cryptocurrency’s hash rate.
  • The core developers of GPU-based cryptocurrencies will likely continuously update their blockchain algorithm to disable highly-efficient ASIC hardware miners.
  • Consequently, Ethereum and Monero miners will remain dependent on Radeon and GeForce video cards.

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