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Used GPUs flood the market as Ethereum's price drops below $150

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Re: Used GPUs flood the market as Ethereum's price drops below $150

#221

Post by akhatri_aus »

nodamage wrote: post #146
BoiledCabbage wrote: post #135

Earlier quoted context omitted.

Call me naive, but am I the only one who looks at mining as one of the worst inventions for consuming energy possible? Almost all of society functions on energy, some of the largest breakthroughs in society have been on sudden abundance of cheap energy and the machines, vehicles products they can create. Entire economies can be crippled by rising costs in energy (oil shocks of the 70s) and boom by sudden drops in cos…

A cryptocurrency enthusiast would tell you that the energy consumed is not "wasted" because it is necessary to secure the block chain. Personally I find this argument unconvincing and somewhat tautological. 1) Surely we can come up with a less wasteful solution to this and 2) why should we assume that securing the block chain is a actually good use for the energy spent? Especially if you consider that the process of…

As with anything based on the enforcement/legal sector there is no economic productivity.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#222

Post by mejin »

BoiledCabbage wrote: post #135
DanBlake wrote: post #7

Just took a quick look at this. If you are located in the 'mining valley' of Washington where power is ~2c/kwh you are still getting healthy profits. A computer with 7 GTX 1070 graphics cards should produce ~230 mh/s and draw 1 kw. This would cost approximately $30/month in power factoring in kw demand + cooling. The above setup will currently generate $385/month in ETH. So basically for miners who are in the right s…

Call me naive, but am I the only one who looks at mining as one of the worst inventions for consuming energy possible? Almost all of society functions on energy, some of the largest breakthroughs in society have been on sudden abundance of cheap energy and the machines, vehicles products they can create. Entire economies can be crippled by rising costs in energy (oil shocks of the 70s) and boom by sudden drops in cos…

isn't one of the main reasons that people like ethereum is because instead of solving random hashes, miners run programs that people want solved? or maybe I'm confusing it with another thing

Re: Used GPUs flood the market as Ethereum's price drops below $150

#223

Post by joshvm »

pdog wrote: post #45
zanny wrote: post #42

On the bright side, this has been a great test of etheriums scalability. Which isn't great , but when this mining craze dies down I won't hesitate to run ethminer when I'm not home for a little extra dough. What I would really expect is an overreaction to the price crash, which means the difficulty rate might drop a lot . At this point, doing what a lot of people do with bitcoin - mining small amounts for a long peri…

Proof-of-stake is coming to Ethereum later this year, so there isn't much point investing in a few more months of mining. Casper is the real reason everyone is selling their mining hardware.

If you had a rig, why would you sell before Casper though (as in, right now)? Even with reduced profit, it's still profit. The only reason I can think of is speculation that the resale value won't be worth it in a few months.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#224

Post by joshvm »

aussieguy123 wrote: post #166

Anyone doing deep learning?

This is the primary reason I bought NVIDIA cards, rather than AMD. Mining is still profitable now, but if it all went to nothing tomorrow I'd still have a pretty competent CUDA box to develop on.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#225

Post by joshvm »

dawnerd wrote: post #175
jrockway wrote: post #149

Earlier quoted context omitted.

I think he just wants the video card to play games. Gamers have suffered from low supply of graphics cards because of the mining fad. With that dying down, they should be able to buy a card now.

Kinda, I needed a new card to power two 4k monitors for my office setup. Needed it that day, so amazon was out of the question. All the local stores had 1060s for basically what 1080s run at. Ended up just buying a 1080 for a few bucks more, because why not. Apparently the 1060s are really good for ethereum...

The 1060s are quite efficient for mining, you can run them at a power target of 60W and they'll still give you baseline performance (around 20MH/s).

Re: Used GPUs flood the market as Ethereum's price drops below $150

#226

Post by kobeya »

ikeboy wrote: post #32
kobeya wrote: post #29

Earlier quoted context omitted.

2 cents, not 20.

It depends on region, some are 20 cents, national average is 13.7 according to https://www.bls.gov/regions/new-york-new-jersey/news-release...

But the regions where people are hosting miners are between 2-4c per kWh. Those are the competition, and those are the people buying (and selling) these.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#227

Post by Joeboy »

Sholmesy wrote: post #207
a_imho wrote: post #195

Earlier quoted context omitted.

1. Miners currently use approximately only 0.0012% of the energy consumed by the world. Actually if that number is accurate, is quite shocking.

Agreed. This is a non-trival amount of energy. Given the infancy of the technology, it is likely to grow. Edit: non-significant -> non-trivial

> This is a non significant amount of energy.

Maybe you meant "non trivial" or just "significant"?

Re: Used GPUs flood the market as Ethereum's price drops below $150

#229

Post by Sholmesy »

Joeboy wrote: post #227
Sholmesy wrote: post #207

Earlier quoted context omitted.

Agreed. This is a non-trival amount of energy. Given the infancy of the technology, it is likely to grow. Edit: non-significant -> non-trivial

> This is a non significant amount of energy. Maybe you meant "non trivial" or just "significant"?

Thanks, didn't have my morning coffee!

Re: Used GPUs flood the market as Ethereum's price drops below $150

#230

Post by jjt-yn_t »

Animats wrote: post #10
ping010pong wrote: post #8

Earlier quoted context omitted.

what happens you only consume popular media and can't self express without cliche

Become President?

s/Become/TestExpresslyBeingAPoet/g ; s/Presi/resi/g; flagged-all-I-can-say-isMeToo;

  A place to mine the poem
  As blockchain over my Lanes do roam
  and profits if ever some arise
  from the noisecorner my Cat does despise. 
  - ha ha
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