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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

#341

Post by wruza »

throwaway0901 wrote: post #320
bob1029 wrote: post #114

Earlier quoted context omitted.

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 dom…

I agree that use cases may be limited with crypto, but some are pretty valid. E.g. international transfers are faster and cheper with crypto.

If you stay in crypto (e.g. usdt). Buying in is easy. Cashing it out in viable amounts is very problematic even for individuals, at least where I live. Transferring a usd-crypto-usd million would take a couple of weeks and unclear risks. In US, can you accept usdt from an exchange and grab the cash right away?

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

#342

Post by MereInterest »

infogulch wrote: post #282
ljm wrote: post #269

Earlier quoted context omitted.

The environmental issues are concerning to me. The amount of electricity being burned through for what is essentially a skeuomorphism of gold mining, pretty much primarily for speculation now, is beyond belief. It's a completely artificial, and artificially scarce, product. Whatever original hopeful goals the creator(s) of Bitcoin had with this idea, and decentralised currency...if there was any victory at all it is…

> skeuomorphism of gold mining I'm gonna steal that one, thanks. :D

That's putting it in the best possible light. Mining gold leaves the world with physical blocks of gold, which has no continuous upkeep cost. "Mining" cryptocurrency leaves the world with an asset that requires continual upkeep (further "mining") in order to maintain that asset. Any significant drop in the network's hashrate opens it up to attacks.

The upkeep cost for Bitcoin is, and by necessity must be, proportional to the value represented by Bitcoin.

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

#343

Post by raghavtoshniwal »

Neither a gamer nor a miner but would love some perspective here because something about this doesn't make sense to me.

If Nvidia has the capability to make a differentiated mining product, shouldn't that be enough to get miners to go for it? Why halve the hashing rate on the "gaming" GPU artificially? If it is a supply issue, shouldn't Nvidia, as a company, try and solve for it directly (maybe it is really hard?), instead of making their products unattractive to a certain set of customers?

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

#344

Post by lurker619 »

bob1029 wrote: post #114
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 dom…

Ok I'll bite...Solana and other blockchains have cracked 50k+ tps. Mining is not required anymore with staked blockchains. Things are improving.

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

#345

Post by TomVDB »

mywittyname wrote: post #276
TomVDB wrote: post #226

Earlier quoted context omitted.

> (2) Big Mining operations actually write their own drivers Strong claims require strong evidence.

This doesn't seem that far fetched. Especially since miners don't need to produce full-featured drivers.

When GPUs are know to use signed firmware, when open source coders need to ask for signed firmware to make even a minimal feature open source GPU driver work, and when there’s no evidence at all that high performance custom made mining-only drivers exist, then that seems very far fetched to me.

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

#346

Post by DennisP »

bob1029 wrote: post #189
deweller wrote: post #166

Earlier quoted context omitted.

The long term road map for Ethereum 2 is 100k transactions per second. This is a theoretical maximum and it will likely take years to get there. This defies your assertion that scaling cannot ever be achieved with current crypto approaches.

100k transactions per section w/ serializability and all of the other things required to satisfy real-world concerns like fraud and regulatory constraints?

Today: several thousand tx/sec in "rollups," just by compressing transactions to minimal information and using zero-knowledge proofs that everything is valid. That's in production. The same transaction data is available on chain but e.g. instead of a sig on each transaction you have a compact proof that every tx had a valid sig.

Later: data sharding, where you're doing the same thing but each Ethereum node only has to store a portion of that data. That will multiply rollup capacity by 23X.

Details from Vitalik here: https://vitalik.ca/general/2021/01/05/rollup.html

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

#347

Post by kriops »

fshbbdssbbgdd wrote: post #324
scotty79 wrote: post #321

Earlier quoted context omitted.

> On a side note all those virtual currency are just plain wrong on the environment side, it does not make any sense in 2021 to have a currency that need heavy computation thus increasing power consumption. I don't know how can you say that after volatility in banking systems crashed large parts of economies of at least a few developed countries leading to resurgence of nationalist leaders that fuel and use those sen…

What does this have to do with the environmental harms caused by crypto? Two wrongs don’t make a right.

But croptocurrencies have legitimate value propositions that needs to be recognized if you want to put the emission/energy-argument forward in good faith.

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

#348

Post by efficax »

deweller wrote: post #166
bob1029 wrote: post #114

Earlier quoted context omitted.

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 dom…

The long term road map for Ethereum 2 is 100k transactions per second. This is a theoretical maximum and it will likely take years to get there. This defies your assertion that scaling cannot ever be achieved with current crypto approaches.

That's a completely theoretical max with 64 shards of the whole network, and reconciling those shards is an unsolved problem

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

#349

Post by gabereiser »

felipelemos wrote: post #258
gabereiser wrote: post #230

Earlier quoted context omitted.

A year ago I bought a RTX 3070 when I rebuilt my entertainment rig. I replaced a GTX1080 and got rid of it. I should have kept it and resold it. It's crazy and I wish there were two categories of cards. Mining cards and Gaming cards. Looks like NVidia feels the same and is making dedicated cards for the basement farmers.

Maybe you are confusing with the series 20XX? The RTX 3070 were only released a bit more than 4 months ago.

You’re right, it’s a 2070

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

#350

Post by scotty79 »

fshbbdssbbgdd wrote: post #324
scotty79 wrote: post #321

Earlier quoted context omitted.

> On a side note all those virtual currency are just plain wrong on the environment side, it does not make any sense in 2021 to have a currency that need heavy computation thus increasing power consumption. I don't know how can you say that after volatility in banking systems crashed large parts of economies of at least a few developed countries leading to resurgence of nationalist leaders that fuel and use those sen…

What does this have to do with the environmental harms caused by crypto? Two wrongs don’t make a right.

Great demand usually does great things for the future of supply and since renewables are getting cheapest I think they will get the most development in the future. We may end up with way more resilient power grid and abundance of clean energy thanks to cryptocurrencies.
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