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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

#721

Post by autokad »

PragmaticPulp wrote: post #490
autokad wrote: post #472

Earlier quoted context omitted.

the vast majority of mining happens off renewable energy, because it doesn't make economic sense to mine on non-renewables. its why 'mines' cluster near hydro plants and places that have good solar.

> because it doesn't make economic sense to mine on non-renewables That's not true at all. You can enter a power cost into this calculator: https://www.nicehash.com/profitability-calculator/nvidia-rtx... It comes out positive using energy prices from virtually anywhere. The idea that mining is powered purely by renewables that would somehow otherwise go to waste (that is, not take fossil fuel plants offline) is pure…

FUD stands for Fear, Uncertainty, and Doubt. I fail to see how it applies in this context

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

#722

Post by Krasnol »

PragmaticPulp wrote: post #493
Krasnol wrote: post #353

Earlier quoted context omitted.

Is there any reliable data on the actual environmental harm? I've heard so many times that it's renewable energy being used because it's so cheap. There was something about mining near dams.

> I've heard so many times that it's renewable energy being used because it's so cheap. It's a myth from the pro-cryptocurrency crowd. With recent price spikes, mining is profitable even if you have to pay relative high prices for electricity. You don't need to have cheap energy. Also, it's another myth that we have an abundance of hydroelectric power that would otherwise go to waste if not for Bitcoin. With modern p…

That's a fair opinion but is there any data on that?

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

#723

Post by Krasnol »

codebje wrote: post #484
Krasnol wrote: post #353

Earlier quoted context omitted.

Is there any reliable data on the actual environmental harm? I've heard so many times that it's renewable energy being used because it's so cheap. There was something about mining near dams.

The upper bound on environmental harm is the damage that would be done by the most harmful energy production method used: any renewable energy spent on mining could be used instead to replace that harmful production. (It's only an upper bound because energy isn't perfectly fungible.) Renewable energy is also better than fossil energy in terms of environmental damage, but it's not free from damage. A dam is a massive…

Sure but that dam is already there. So why not use the spare energy on something?

Or is there energy being "stolen" from other uses?

As I wrote: is there any reliable data?

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

#724

Post by passwordreset »

csa wrote: post #609
passwordreset wrote: post #596

Earlier quoted context omitted.

> what is that actually useful for? Ownership. It's the difference between "I own 20 quatloos because the Bank of Endor says so" vs. "I own 20 quatloos". It supports actual ownership instead of representative or proxy ownership. In the same way that you can have $20 in the bank or $20 in your wallet. When it's in your wallet, it's actually yours and you own it. When it's in your bank account, then you don't actually…

I was hoping someone would give this answer. OK... so what exactly is "ownership"? A buddy of mine mined ~160 BTC (currently about USD $8.1m) back when it was fairly worthless. He left it on a hard drive on one of his many machines. BTC became worth something. He look for said machine and HD. Couldn't find it. That BTC is effectively gone forever. So... who owns it? There are a not small amount of stories like the on…

>so what exactly is "ownership"?

Really? Ignoring the philosophic debate, ownership in terms of BTC deals with the capacity to modify the ledger using an agreed-upon protocol -- but you already know this, and I don't know why you're asking that question. What do _you_ think ownership means in terms of BTC? Do you think you can implement a public system for ownership of digital assets without a distributed consensus system? Or Verifiable transactions? Maybe you can, and if you do I'd love to see it. Good Luck.

>So... who owns it?

The person who has the key.

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

#725

Post by smileybarry »

soheil wrote: post #599
Thaxll wrote: post #15

Gamers hate miners, they're driving the price up, make hardware impossible to get ect ... It's a really problematic situation. Almost 6 month after launching new graphic cards from AMD / NVIDIA good luck gettting an RTX 30xx or 6800. 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…

> it does not make any sense in 2021 to have a currency that need heavy computation thus increasing power consumption Because it makes so much sense to dedicate equal or if not vastly greater resources to playing games?

Not even equal. A GPU running games can coast on 100W-150W usage, whereas mining can and frequently stretches it to full power capacity, e.g. 320W on RTX 3080. Not to mention that mining is 24/7, gaming is not.

So no, not equal, not greater, in fact lower. And I think the Graphics Processing Unit should process graphics, don't you?

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

#726

Post by [deleted] »

Const-me wrote: post #716
neurostimulant wrote: post #710

Earlier quoted context omitted.

> If they start penalizing uncommon workloads, this kills innovation in many areas, videogames included. I'm not too worried about that. Nvidia has track record of releasing driver updates to address issues in end-user applications. If a legitimate application got accidentally flagged, people will report it and nvidia will whitelist them.

> people will report it and nvidia will whitelist them That approach doesn’t work in general. Look at “Manage 3D settings / Program settings” in nVidia’s control panel. They only have presets for very popular software like Adobe After Effects or Premiere, benchmarks like 3D mark, or AAA videogames.

[deleted]

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

#727

Post by dannyw »

patriksvensson wrote: post #247
dannyw wrote: post #191

Earlier quoted context omitted.

I bought them through a IT reseller, at more or less retail price around here.

Honest question: Have you calculated your profits now VS what your profits would have been if those same $$ purchased the cryptocurrency of your choice on the day you bought the cards instead? Which would have been more profitable (taking selling the equipment after into consideration as well).

Yes. I make more mining, based on my modelling.

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

#728

Post by ravi-delia »

TLightful wrote: post #339
ravi-delia wrote: post #265

Earlier quoted context omitted.

I'm trying to imagine what you think went through the mind of Satoshi Nakamoto. Do you imagine he just woke up one day and said "You know what I like? Carbon emissions! For no reason but carbon emissions! Somehow, I benefit from carbon emissions!". I really just don't think that's how it panned out.

Does it matter? The reality is the same.

It matters to the extent that saying "environmental harm is a deliberate design choice of bitcoin" is false, rather than true.

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

#729

Post by undersuit »

Tepix wrote: post #677
herendin2 wrote: post #573

Earlier quoted context omitted.

Nvidia is effectively incentivizing the cracking of their driver and firmware security signing with millions of dollars. Because a person who cracks it can build a more profitable mining farm It's a sort of accidental bug bounty and I wonder if Nvidia have really thought this through?

If you crack it, you haven't found a bug though. You managed to do a bit of circumvention.

Plenty of Nvidia Linux users will accept the "patch" regardless I think.

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

#730

Post by Karunamon »

csa wrote: post #707
Karunamon wrote: post #700

Earlier quoted context omitted.

How is the thrust of this story any different from someone losing paper cash? How many millions/billions have been lost from physical currency becoming inaccessible?

The issue at hand is the potential value of “distributed consensus and verifiable transactions with no central trusted authority”. My point is that most people seem to prefer having a central trusted authority, specifically for custodianship. That’s why most people put money that is significant to them somewhere in the banking system rather than a shoebox or a tin can somewhere. They want that money to be be traceabl…

I can't help but think that the "accessibility" is doing most of the work here. Handling cash is a pain in the ass. Giving a merchant a series of 23 numbers over the computer is comparatively easier.
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