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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

#581

Post by patmcc »

px43 wrote: post #463
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…

If you can't see the practical utility of cryptocurrency in 2021, you're being willfully ignorant. If you actually believe what you're saying, then short it[1]. If you really think that the practical value is non-existent, then put your money where your mouth is, and take out a short. This isn't some academic theory where the best you can do is throw tomatoes at it, and ridicule it from a distance. This is an economi…

"The markets can remain irrational longer than you can remain solvent"

If I could short bitcoin over a 20, 30, 40 year timeframe I absolutely would, unfortunately that's not possible. There might be utility in some cryptocurrencies for some applications, but bitcoin as it currently exists is worse than useless, it's actively harmful.

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

#582

Post by SilverRed »

golover721 wrote: post #251

I wonder how much of this is Nvidia getting pressure from the Gaming industry to do something about it. As far as Nvidia is concerned they are selling as many units as they can produce, so it is a gold rush for them. The gaming industry I am sure is getting concerned that for their new AAA titles already under development which require these high end GPUs, their customers won’t be able to get ahold of them. Or at lea…

Will they really require these gpus though? In my experience you can play virtually everything on a 4-5 year old card on some level of provided graphics settings.

IMO people obsess far too much on turning games up to the top setting when the actual result is hardly different, and certainly not worth buying a top card yearly for.

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

#583

Post by UseStrict »

Teknoman117 wrote: post #454
codezero wrote: post #399

Earlier quoted context omitted.

Or the CMP line will actually fit the needs, and no need for games of whack a mole.

It basically depends on three things though. The CMP card supply needs to be sufficient for the miners' demand, they can't be more expensive, and the question of how much does being able to resell the cards to gamers play into the value proposition.

I actually avoid the used video card market now, the resale price is insanely high and odds are the card was driven as hard as possible for months at a time mining crypto before being swapped out for the latest and greatest.

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

#584

Post by SilverRed »

jakeinspace wrote: post #572
reducesuffering wrote: post #554

Earlier quoted context omitted.

You're probably spending much more on the electricity used than the $ from ETH. You're probably better off buying a real heater...

You'd think so, but that's not the case. Electricity is only running me around 7 cents / kWh, so when I say "net" I mean it. Ethereum is up 7x over the last year, and is largely driving the surge in GPU prices - if it weren't currently profitable, nobody would be buying modern GPUs for mining it. Regardless, even if I were losing money, 100% of the waste heat from my computer is doing actual useful work in heating my…

A heat pump would be far more efficient if you have the ability to install one in your room.

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

#585

Post by px43 »

raindropm wrote: post #549
px43 wrote: post #463

Earlier quoted context omitted.

If you can't see the practical utility of cryptocurrency in 2021, you're being willfully ignorant. If you actually believe what you're saying, then short it[1]. If you really think that the practical value is non-existent, then put your money where your mouth is, and take out a short. This isn't some academic theory where the best you can do is throw tomatoes at it, and ridicule it from a distance. This is an economi…

>If you can't see the practical utility of cryptocurrency in 2021, you're being willfully ignorant. Maybe I'm willfully ignorant, but I just don't see any practical use outside of massive speculation game. Mind give us some examples? :)

Moving money over the internet without needing a central authority.

It really doesn't matter if you don't recognize how big of a deal that is, but to A LOT of people, it's a complete game changer. If you don't need a service like that, well that's fine, but obviously a lot of people do, which is why the network is where it is today. Massive amounts of value is being moved through the network daily, and the fees that people are paying to utilize the network are not at all trivial. It's worth it to them though, or they wouldn't be using it.

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

#586

Post by cwhiz »

ljm wrote: post #269
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 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…

I don’t even agree with the scarcity argument. Every Bitcoin represents 100,000,000 traceable assets. The “supply” of an entire Bitcoin may be artificially limited, but practically speaking there are infinite Bitcoin satoshi to trade.

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

#587

Post by TechnoTimeStop »

xtian wrote: post #571
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…

Do you apply the same level of concern to the US military? It produces a lot more CO2 emissions than Bitcoin. I don’t think it produces more benefits for normal people either.

What is this? Hacker news or china propaganda?

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

#588

Post by anonisko »

wruza wrote: post #400
vbezhenar wrote: post #289

Earlier quoted context omitted.

Just wait until they'll limit ML/DL using those heuristics because you're supposed to buy specialized hardware and let gamers play their games. First they came for the miners, and I did not speak out.

So let’s wait until BTC hits $100k and a generic videocard for any purpose costs $5000. That would be much better than paying extra $200 over MSRP for ML. /s

That would suck in the short term, but it would also be a HUGE incentive to massively ramp up chip fabrication capacity, leading to long term cost decrease due to economies of scale.

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

#589

Post by 29athrowaway »

xtian wrote: post #571
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…

Do you apply the same level of concern to the US military? It produces a lot more CO2 emissions than Bitcoin. I don’t think it produces more benefits for normal people either.

They do help. The national guard is deployed during natural disasters, the coast guard does a lot of useful work.

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

#590

Post by SilverRed »

travisporter wrote: post #286
IceWreck wrote: post #115

While I hate the GPU shortage, I dont think this is the right way to go. Artificially limiting what you can and cannot do on your hardware is a bad precedent.

Off topic but does Tesla still software limit their batteries? I always cringed at that; just knowing something exists that isn't being used to it's full potential

>something exists that isn't being used to it's full potential

In a way it is, the extra capacity gets used to manage wear. So it can distribute load over the cells to make the overall battery last longer.

Same thing we have in flash storage where is more flash storage than you are able to use but as parts die, the reserve gets used to replace them.

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