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(Nvm, we're screwed) Future Nvidia GPUs will block crypto mining


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Is it?
 

 

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  • Mars Exulte changed the title to (Nvm, we're screwed) Future Nvidia GPUs will block crypto mining

The thing I want to know is how so many miners got hold of so many. I have been looking since day 01 and I have never even seen the "add to basket" option at any UK retailer for a 3080. I think I saw a 3070 twice in January. Its a shame but I know three people with a 30 series and they all finally gave in to buying them on eBay. 

Just how many of these things went out the back door of the factory. Didn't one guy in China have something like 50+ of these hooked up???

 

Its not shutting the door after the horse has bolted but when its out of sight and the dust has settled!!!


Edited by Bossco82
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I’m happy that I can soon get a “GPU?” that is better for mining and still have one for gaming!

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12 hours ago, Bossco82 said:

The thing I want to know is how so many miners got hold of so many. I have been looking since day 01 and I have never even seen the "add to basket" option at any UK retailer for a 3080. I think I saw a 3070 twice in January. Its a shame but I know three people with a 30 series and they all finally gave in to buying them on eBay. 

Just how many of these things went out the back door of the factory. Didn't one guy in China have something like 50+ of these hooked up???

 

Its not shutting the door after the horse has bolted but when its out of sight and the dust has settled!!!

 

Bots scouring online retailers and instantly purchasing any that are listed. And it's not necessarily the miners that are grabbing them first, a lot of the bots are run by scalpers.

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I just want to make sure I have not given the wrong impression. I don't have a problem with miners buying graphic cards.

I'm no fan of scalpers using bots that's for sure.

My point is there are miners out there with a lot of either nvidia 30 series or AMD 6000 series graphic cards. They could not have bought them from all from scalpers or retailers. A popular manufacturer was caught scalping their own products. My issue is the manufacturers advertising something as available for sale but for some reason it doesn't make it to the retailer.

I also wonder how retailers are coping. They have nothing to actually sell so they can make a profit. 

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Yeah but then you still run a 2nd hand 3Dfx card...

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45 minutes ago, Mower said:

I have no idea why we should care about this...

  You don't have to... unless you've been trying to buy a GPU at some point in the last 2-3 years since all this bs started and are facing a combination of massive supply shortages, shitty business practices, and greedy, scum sucking scalpers. Then it becomes something you're likely to have a greater interest in. 

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Hope the Crypto mining market takes a massive nose dive and  all the miners dump all their cards on the market, lets see what happens to all the inflated shop prices then.

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Its a bad show all round really. Both Nvidia and AMD advertised a MRSP at launch. Then when they actually are available that price is a distant memory. A mate of mine his GTX 1080 properly failed with no come back or repair possible. He bought a 3070 off eBay last week for over £800. 

Even when I found an AMD MSI 6800xt the price was high but worth it considering what my 2080ti was now worth. When it arrived it had a corrupted vBios and I had to send it back for a refund. I'm glad I did some upgrades in August last year so I can sit tight and wait until this crazyness ends.

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I built my new system last year March so next month it will be a year old.

 

I put a GTX 2070 in while waiting for the release for the 3000 series....and i'm still waiting!!!! what a complete farce .

 

I'm prepared to wait it out until prices become more "manageable" but I refuse to be fleeced by greedy vendors.

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2 hours ago, cordite said:

Nvidia was selling 3000 series cards directly to miners.

A guess, or proved?

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16 hours ago, cordite said:

 

Ask this guy (this isn’t the first time he’s alerted the media):

https://www.lowyat.net/2021/231315/crypto-miner-installs-mining-rig-inside-boot-of-bmw-i8-just-to-annoy-gamers/

 

I so hope crypto tanks again, spectacularly.

 

 

  That's... actually pretty cool, especially the turbofan looking thing. I mean, there was some thought put into that one =D I question the wisdom of putting something like in view under the glass, though. Good way to get your car keyed or broke into. I mean, ffs, an unattended walmart bag or Amazon box will usually get the job done, let alone something like that.

 

  I actually don't mind mining persay, the irritating bit is the greed of ''money for nothing'' and the large scale selfishness and inconsideration shown by the people and corps involved.


Edited by Mars Exulte
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On 2/21/2021 at 2:21 AM, Bossco82 said:

The thing I want to know is how so many miners got hold of so many.

The answer to that are speculants. They are either scouring the trade nets with bots or contact suppliers directly, creating their own infrastructure unlike anything a real customer has access to. No matter how many cards factories make, they will all be bought out by these guys and held in storage/resold at much higher prices. And if the card manufacturers up the prices, so will the speculants, so no hope there. This trade was banned in USSR under criminal code for a reason (and yes, they have won in the end, leading to the whole state being torn down from inside -- it's legitimate business today).

 

Of course, the second part of the equation are cryptocurrency miners. It demands for high computing power for managing transactions -- and distributed minifactories for code calculations to these are going to suck all the computing power available: no matter the cost, graphics cards will profit their owners more with each one added, so these costs are added to production costs. Thus, they will take their cards from the aforementioned speculants for any price available -- it's an investment. And the more transactions are to make, the more power will be outright demanded. Also, the more widespread crypto is, the more agencies will accept it, increasing transaction count. It's a closed positive-feedback loop that demands more and more computing power. 

 

And no, even if no civil agencies will accept crypto payments, it will still be used, since that's the only way you can pay remotely for drugs, illegal guns or slaves (from 1st and 2nd world countries). Or pizzas, ofc. Still, I see no other way to stop this positive-feedback loop but governments lashing out at crypto, outright criminalizing its use, owning and production. Obviously, that won't stop the criminal use of it, but these are far less widespread than stock market speculations that inflate bubbles out of this resource -- and require far less computing power. Then and only then will end-users will get their hands on any modern graphics cards. 

They are not vulching... they are STRAFING!!! :smartass::thumbup:

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15 hours ago, Черный Дракул said:

The answer to that are speculants...This trade was banned in USSR under criminal code for a reason ...

...
I see no other way to stop this positive-feedback loop but governments lashing out at crypto, outright criminalizing its use, owning and production. 
...

This ban never prevented the thriving black market in USSR, which was used even by the very elite.

this statement of yours is either shortsighted or ignorant. what on earth would give any government on this planet the right to tell me what medium of exchange I should use with those who agree to trade with me and what I shouldn't ?  

Anton.

 

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well either way the scalpers seemed to have bought up all the 3060's. they are on ebay for more then double the MSRP.

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6 hours ago, agrasyuk said:

This ban never prevented the thriving black market in USSR

Like I said, market speculants have won in the end of that war. But they got their instruments for victory when USSR rolled back to capitalism-ish economy. It's a bit complicated and somewhat besides the point, except a fair warning that this kind of shady business is strong to combat and can easily bite back. Thing is, the state has to have a method for stopping cancerous business practices since "totally free" market in obviously non-free conditions allows for many hair-raising stuff you definitely don't want to encounter in your life. 

 

6 hours ago, agrasyuk said:

what on earth would give any government on this planet the right to tell me what medium of exchange I should use with those who agree to trade with me and what I shouldn't ? 

One's rights end where other's begin. If and when your trade practice harms the society as a whole -- and as of now, BC exchange does exactly that -- the society, represented by the state in any kind of democracy, can do as it please to protect itself. You do understand that the humongous amounts of crypto mining, sucking up all the graphics hardware there is and producing an enormous carbon footprint throughout the planet, just services stock market speculants in their gambling? Sadly, your two pizzas represent close to nothing in the amount of operations produced. 


Edited by Черный Дракул

They are not vulching... they are STRAFING!!! :smartass::thumbup:

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Черный Дракулdude...
"just services stock market speculants in their gambling" - stock market and the market makers is the very reason things such as GPUs exist. it's not governments but venture capitalists that funded those companies
state of USSR's economy and later collapse was a text book demonstration of why planned economy and government intervention never works.

the fact you and I can't get a reasonably priced GPU indeed sucks. I get it, I was also planning to build a PC for my sim. but that inability is far far from "harms the society". i'd say even the opposite -  a transparent decentralized digital coin can be a tremendous benefit to society as it can remove ability of corrupt and irresponsible governments to manipulate currency . it probably sucks living in Zimbabwe and Venezuela right now, but lack of affordable GPUs is the least of their troubles . Imagine how much better lives of people there would have been if the idiots up top didn't have the possibility to print gobs cash  and dilute it to nothing. and it's not like cash wasn't ever used for criminal purposes.

 

 


Edited by agrasyuk

Anton.

 

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