It is possible to mine Bitcoin with GPU Graphic Cards, isn't it?

By the way, I have read news about this recent increase of the hashrate within the network, as long as the distribution stays decentralized then it is good news for the safety of Bitcoin. On the other hand, I have also read on Cointelegraph that miners are feeling the pressure because these price leves and they are in a situation where they can't accumulate much Bitcoin, I assume it is because the price of BTC and the local energy prices (which depends of the location).

I believe a small decrease of the hashrate and difficulty would make sense in the short term, but then both will likely increase again, I would not be surprised if some Ethereum users (afraid of the centralization of Ethereum after the Merge) have swapped some of Ether for Bitcoin these days.

In short that won't work because of the different PoW algorithms and much higher bitcoin difficulty.

When you are mining a shitcoin like Ethereum that uses a different algorithm (Keccak256) you can't just switch to bitcoin mining that uses SHA256d mining algorithm. Not to mention that ethereum had a much lower difficulty so people mined it using GPUs whereas you can't mind bitcoin with a GPUs, you'll need ASICs which need to be bought and delivered.

There is an ETH ASIC available too but again that ASIC is designed to mine Keccak not SHA256 so it can't be used to mine bitcoin (so ether miners using those ASICs can't just switch to bitcoin).

Most likely all those ETH miners would simply switch to another shitcoin with similar algorithm (like ETC) or a shitcoin that can be mined using GPUs.

it is possible but you will get nothing from it because ASIC hardware is more powerful thank graphic card but you can mine altcoin and then turn it into bitcoin


and yes the hashrate in my opinion would be grow maybe this time is ATH but soon will gonna tech new ATH multiple times when BITCOIN price increase and adopter getting more and more

It is fundamentally good growth but to turn it into growth of price, it needs a lot of time, months not days or weeks.

• https://www.bitcoinisdead.org/
• https://99bitcoins.com/bitcoin-obituaries/

Above are two websites for reference about times of "Bitcoin is dead" callings. Hundreds of time it was called "is dead" but it has yet been dead and actually strive to stronger lively.

new generation miners were released in summer and they are more efficient meaning more hashs for less electric.
at the moment they are taking old asics off to replace for new asics.

EG 100% asics running at 110thash for 3.25kw
is like 2m asic =220exahash
changing to 140thash for 3kw
is like 2m asics =280exhash but with less electric

so a swap 1 unit for 1 unit creates more hashrate. before even adding extra asic units
so using less electric means they can profit more at low prices

..
as for assumptions that ethereum miners are shifting to bitcoin.. no definitely not.

GPU mining bitcoin wont earn profit. all them GPU racks are now mining other altcoin

.. i would say by mid october to december when more batches of new gen bitcoin asics are delivered. then we will see extra units on the network which will push the cost up due to competition. and we might see a price push

Daily values are misleading, it all depends on when those making them decide the day stats (GMT, GMT-8, whatever their server hour is) and the luck in finding blocks in that time.
For example ycharts show on the 1st and 2nd 282 and then 244
Bitinfohcrats shows 1st with 268 and 2nd with 261.

Most likely the real value will be at something over 240Exa for this period, a new ATH but not that spectacular, for example, we had on average 223 back in May, still a 10% up but not 30%.


Maybe a few, but those must have been placing their order in advance by a few months, not to mention that feeding 2-3 Asics is different than a standard 8 GPU rig, not to mention the noise. The culprit behind the spike is probably another batch being delivered, October was a schedule for the first batch of S19 hydros, and usually, the buyers for those are doing it at the 190 MQO batches.
Also what DaveF said, prices and electricity availability are slowly going down in a few states and suspended operations are plugging again.

You are behind for almost a decade. The First Bitcoin ASIC Miner was introduced back in 2012. Since then, ASICs take over Bitcoin mining. I don't know when the last time GPU was able to mine SHA-256 was. The full form of ASIC is Application-Specific Integrated Circuit (ASIC).

They can't use shitereum GPU miners for mining Bitcoin, except maybe with some nicehash workaround, but that probably wouldn't create this all-time high.
Maybe people sold their GPU and purchased ASIC miners, but price for used GPU's dropped very low that I don't think this would make any sense.
Bitcoin is far from dead, and it's the only blockchain network in the world that doesn't have censorship or ofac compliance built in.

I think it was possible with Nicehash before, but I am not sure if that is profitable now.

Or maybe the next question is this, will it capitulate small miners when we hit a new hash rate or they have been shaken down when the price hits $17,500.

I guess it still boils down as how profitable it is, for mid to big time miners with this new increase, of the profit of margin is not enough for them to keep afloat in this business.

Bitcoin network is stronger with time and it is continuing even during the energy crisis globally. Sometimes, hashrate can have hiccups along the way because of weak miners capitulate or natural disasters or other reasons related to policy changes. In general, the network has a solid upward trend in total hashrate.

Price can have pumps and dumps because of greed and fearful but value is only increase year after year. If people want to find out about value growth, let's see lowest price of each year. We can see a clearer upward trend and it reflects the growth of value for Bitcoin. The value of Bitcoin is contributed by increasing use cases and utilities for it as well as expansion of Bitcoin communities globally.