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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

#531

Post by kyrieeschaton »

XorNot wrote: post #519
kyrieeschaton wrote: post #513

Earlier quoted context omitted.

Did you know that vanilla financial securities also require upkeep? Approximately 0.5% of the value of all financial assets is burned every year (and potentially an order of magnitude more, depending on what asset and packaging you're talking about).

That's a heck of a figure you're not providing a reference or explanation for at all. Or even an explanation of what you mean by financial securities and "burned".

"Securities" is a pretty well understood term.

Mutual funds, the most legible way to get an estimate of the holding cost of securities (since they are required to transact at net asset value) routinely charge between 0.2-1% fees, depending on size and asset class.

Clearinghouses, transfer agents, and cash management firms don't work for free, which is the problem that cryptocurrencies explicitly solve; neither do compliance, KYC, fraud, etc., which most cryptocurrency protocols elide altogether.

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

#532

Post by R0b0t1 »

vmception wrote: post #503
R0b0t1 wrote: post #402

Earlier quoted context omitted.

Or to just rearrange the operations so that the detection won't trigger.

Challenge accepted Business opportunity because other miners will pay for the driver (or the mining software you make has the 2% mining fee to your address) or you can be the only one that has the driver and buys up all the rtx cards yourself if you have access to capital vertically integrated is harder of course but could have the biggest payoff

I know how I'd do it but nobody paying me to do it so it's not really tractable for the time being. Is the mining payout actually attractive? I thought people were still running at a loss.

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

#534

Post by qqii »

chiph wrote: post #318
cloudhead wrote: post #288

Earlier quoted context omitted.

I'm not sure why you would compare Visa with Bitcoin, unless you had no idea what you were talking about.. Visa does not enable one to transact without the rest of the banking system. It's useless on its own. Really pointless point of reference.

Bitcoin (and the other coin systems) ultimately need to be able to handle transactions by a large number of users if they are to gain widespread acceptance. If I want to buy something with my coins, I don't expect to see "Sorry your transaction timed out. Please try again in a few moments". That is NOT confidence inspiring to me as the coin holder, and certainly not to the person/business expecting to receive my coin…

Transactions can't time out and there are two main solutions for businesses that want to accept bitcoin:

* Accept transactions that are in the mempool * Use the lightning network

Accepting mempool transactions obviously has lesser guarantees and unfortunately lightning hasn't seen great adoption even from centralised exchanges.

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

#535

Post by fshbbdssbbgdd »

scotty79 wrote: post #437
fshbbdssbbgdd wrote: post #392

Earlier quoted context omitted.

How far does this mindset extend? Would you support spoiling food to increase demand for more efficient food production? Destroying homes to increase demand for more efficient home construction? > Wasting electrical energy is only bad because it came from burning stuff. But I don't think any fossil fuel power plant was closed because people used less. Coal plants are indeed closing because they are no longer profitab…

Destroying few delapidated homes to make space to build a block of flats on that plot of land? Sure! But not to drive up demand there are better ways to do that in case of housing. There are places where more efficient housing can't be built bot because lack of demand but local regulations that serve local wealth owners. Waste food... Not so much bacause food preduction doesn't really suffer as a result of low demand…

> Coal power plants close because there are cheaper ways to make electricity now, not because demand dropped.

The price for power is set by supply and demand. Increased demand for power increases the price. This means that coal plants can afford to operate depending on the amount of demand.

Here’s a story about coal plants closing due to lower demand: https://www.google.com/amp/s/www.wired.com/story/the-covid-1...

Here’s another article about how natural gas plants are replacing coal and nuclear: https://www.mckinsey.com/industries/electric-power-and-natur...

Any increase in demand for power will increase carbon emission by keeping coal plants from shutting down, building more natural natural gas plants, and keeping those plants online more often. Renewables are important, but only satisfy a minority of demand for electricity.

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

#536

Post by perryizgr8 »

tibbydudeza wrote: post #272
bhaak wrote: post #73

Earlier quoted context omitted.

Warren Buffett, the renowned investor, famously dismissed gold in a speech given at Harvard in 1998. He said: “It gets dug out of the ground in Africa, or some place. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” It sucks that gold is so desired just for its look. If it were cheaper it wou…

The same about diamonds.

At least diamonds have utility in cutting tools etc.

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

#537

Post by [deleted] »

AlotOfReading wrote: post #469
px43 wrote: post #444

Earlier quoted context omitted.

Each hour 430 quintillion Joules (430 exajoules) of energy from the sun hits the Earth.[1] It is almost exclusively reflected back out into space, and wasted. We have nearly no incentive to capture it, so the energy is being wasted at a mind boggling scale. I've been mining cryptocurrencies with solar power for about 6 years or so. The great thing about crypto mining is that it creates a price floor for energy usage.…

Since we're firmly in the ridiculous arguments camp already, it may as well be pointed out that all of that energy leaving the planet is a good thing. It's why the earth isn't a barren hellscape like venus, whose atmosphere captures energy much more efficiently. Most people would actually prefer that we capture just a bit less than we currently do.

[deleted]

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

#538

Post by qqii »

dumbfounder wrote: post #228
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 think it absolutely makes sense for them to customize their products for the market they want to serve, even if it is artificial, that is their prerogative. But the product is just for gamers that want better games. I think it's funny that is the moral high road here.

By the same logic those interested in ML shouldn't be buying up Geforce cards and should buy their Tesla line.

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

#540

Post by arsome »

Average_ wrote: post #508
arsome wrote: post #243

Sounds like it's time to crack some NVIDIA drivers. I already do it for the video encoding limitations, why not this too? Miners are willing to go to some really hacky extremes, reflashing firmwares, custom fan mods, extreme overclock configurations, etc to maximize hashrates and certainly won't care if they have to jump through some hoops to patch a specific version of the Linux driver or enable unsigned drivers on…

> I already do it for the video encoding limitations, why not this too? That sounds pretty interesting. Mind elaborating on what changes you achieve with your modifications?

https://github.com/keylase/nvidia-patch

Basically just lets my Plex server transcode more streams at once without having a Quadro.

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