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Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

blogs.nvidia.com

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Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#111

Post by ralmidani »

Tenoke wrote: post #106
ralmidani wrote: post #50

I would normally be appalled by such an action, but the supply issues for RTX 30x0 cards are beyond ridiculous. Mining trashes the environment and, for the majority of crypto assets/volumes, does not provide genuinely valuable economic activity besides speculation (I say that as someone who has put thousands of dollars into crypto in the past). Why should people who want to try some ML/DL at home (maybe they even nee…

> I really wish Nvidia would do this across the RTX product line. I'd rather they have scaled up the demand. They've had years of this to take the higher profits and invest them. Even if people don't use them for mining, the demand for Machine Learning is there - instead GeForce cards have been banned for use in data centers for years. Not to mention that the crippling of 3060 would be trivial for mining operations t…

I understand Nvidia is no angel. And I'm totally OK with them doing the right thing for the wrong reason.

Also, my concern is not for data centers running creepy ML models that invade users' privacy, but for the average home user who wants to get started with ML and at the same time get decent frame rates when they play a game.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#112

Post by DennisP »

TomVDB wrote: post #75
magna7 wrote: post #59

Earlier quoted context omitted.

Ethereum has been designed from the very start to switch from PoW (mining) to PoS (validating) and Phase 0 of that transition has already started.

I remember that argument being made 2 years ago during the last mining craze. Given the existing investment in Ethereum HW, it almost seems like it’s just a carrot to deflect criticism about power consumption, but not something that will actually happen.

It's already running with $5 billion in ETH deposited. It'll take some more time before migrating the legacy chain, but the really hard part is live. There was nothing like that two years ago.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#113

Post by encryptluks2 »

COGlory wrote: post #94
WrtCdEvrydy wrote: post #43

Earlier quoted context omitted.

Yeah, this is about par for the course for Nvidia. I wish AMD had a working product to kick their teeth in...

They do. The 5700XT is still an excellent card, the 6700 and 6700XT are coming out soon, and the 6800 and 6800XT are both absolutely killer cards as well, especially at the reference prices. Vendors and demand have effectively driven prices to an insane amount, and you just can't get them, unfortunately. Short of AMD doing something like Nvidia is doing here, I doubt we'll see them on store shelves any time soon.

Except you won't be able to buy any of them, even when they are released.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#114

Post by bob1029 »

ralmidani wrote: post #50

I would normally be appalled by such an action, but the supply issues for RTX 30x0 cards are beyond ridiculous. Mining trashes the environment and, for the majority of crypto assets/volumes, does not provide genuinely valuable economic activity besides speculation (I say that as someone who has put thousands of dollars into crypto in the past). Why should people who want to try some ML/DL at home (maybe they even nee…

The practical utility of crypto is such a joke when compared to the intended use cases that all of the speculators fawn over. The idea that crypto is a "store of value" seems like meager coping with the fact that transaction rates in a distributed system necessarily must suck compared to what Visa, et. al. are doing with IBM mainframes and racks of x86 hardware contained in the same datacenter (i.e. 1~2ms latency domain vs seconds to minutes).

For reference, Visa does thousands to tens-of-thousands of transactions per second. The cost to run one of these transactions is negligible because it can be handled so quickly. Contrast with BTC, which struggles to hit 10 transactions per second on a good day. I used to work in a facility that monitored debit transactions. Our SLAs were ridiculous. Certain customers had requirements that if a single transaction took more than 100 ms, we were to open a ticket and contact their help desk immediately. This is the type of rigor it takes to maintain a financial payment network that consumers will have confidence in using.

This is not something that can be solved with current crypto approaches. There are information theory constraints regarding how long it would take to reach consensus across a distributed system and in such a way that transactions are serializable.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#116

Post by Tenoke »

ralmidani wrote: post #111
Tenoke wrote: post #106

Earlier quoted context omitted.

> I really wish Nvidia would do this across the RTX product line. I'd rather they have scaled up the demand. They've had years of this to take the higher profits and invest them. Even if people don't use them for mining, the demand for Machine Learning is there - instead GeForce cards have been banned for use in data centers for years. Not to mention that the crippling of 3060 would be trivial for mining operations t…

I understand Nvidia is no angel. And I'm totally OK with them doing the right thing for the wrong reason. Also, my concern is not for data centers running creepy ML models that invade users' privacy, but for the average home user who wants to get started with ML and at the same time get decent frame rates when they play a game.

>I understand Nvidia is no angel. And I'm totally OK with them doing the right thing for the wrong reason.

My argument is they should and could have scaled up the production rather than just shuffling around which group they hurt or help at the expense of which other (be it miners, ML folks or gamers). This isn't the 'right thing', it just helps the group you prefer on this round.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#117

Post by julienfr112 »

tmaly wrote: post #47

Why not just make a massively parallel ASIC and make the price competitive to the RTX 3060? This would be better than crippling the product via software drivers.

ethereum was especialy designed to be mined with gpu, i think asic or fpga will miss the memory size that gpu have.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#118

Post by corebuffer »

> We’re limiting the hash rate of GeForce RTX 3060 GPUs so they’re less desirable to miners and launching NVIDIA CMP for professional mining.

Limiting to justify a new product. Like they do to fp64 rates and virtualization support.

>RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50 percent.

Nice, one more reason to get the open source driver moving.

edit: formatting

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#119

Post by bhaak »

hobofan wrote: post #85
jki275 wrote: post #69

Earlier quoted context omitted.

Never. They've been "moving to proof of stake" for something like three years. The miners are making money off of them not moving to proof of stake. The miners stop making money when they move to proof of stake. The only people who can actually allow the chain to move to proof of stake are the miners. Meanwhile, xtz and ada have been proof of stake since their inception, 3+ years already for both.

I mean I'm also disappointed by the slow pace of the transition, but they are clearly making progress towards it. They've been _planning_ to move to PoS for ~3 years, with a much too optimistic timeline. In the meantime a lot of companies working towards that have collapsed or refocused on other efforts, delaying the whole transition. It will probably take another ~3 years (my personal estimate) until the transition…

> They've been _planning_ to move to PoS for ~3 years, with a much too optimistic timeline.

PoS has always been on the roadmap even before their ICO. But yes, with a MUCH more optimistic timeline.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#120

Post by dageshi »

varispeed wrote: post #81
bryanlarsen wrote: post #11

Earlier quoted context omitted.

If you cannot buy it because miners have purchased all the stock, do you really own it?

Not sure how this is relevant. Company should look how to increase the supply instead of artificially crippling the product to squeeze more money.

However many they produce, miners will buy all of them. Miners will outbid gamers on the same cards. What is your solution?
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