Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Nvidia Limits RTX 3060 Hash Rate

tomshardware.com

Post reply on HN
Print view View original

471–480 of 520 posts

Re: Nvidia Limits RTX 3060 Hash Rate

#471

Post by anonisko »

benrbray wrote: post #460
anonisko wrote: post #450

Earlier quoted context omitted.

It's definitely not this simple. How would you execute an exchange ban politically? Any politicians who did this would be responsible for instantly vaporizing tons of value owned by an increasingly non negligible fraction of the population that spans a broad spectrum of political affiliation. An exchange ban also wouldn't stop bitcoin, because the network would still continue running and anyone cutoff and stuck with…

I don't really want to see politicians giving bitcoin holders too much weight when making decisions about how the economy should function. Anyone who owns Bitcoin is gambling. There was never a guarantee that value would go up, or that the government squash the idea entirely. If we as a society decide that Bitcoin is too dangerous, current holders should accept Bitcoin for what it was: a bad investment.

There are more people who already own some bitcoin than you'd probably want to believe. Many of them believe bitcoin is on balance a good thing.

There are at least a couple of bitcoiners currently in Congress, including the new Senator of Wyoming who is publicly all aboard the idea that bitcoin is an important, long term store of value that the US needs to jump on board with.

How many politicians do you think already hold some bitcoin quietly, just in case?

Re: Nvidia Limits RTX 3060 Hash Rate

#472

Post by f430 »

CyberDildonics wrote: post #435
tw04 wrote: post #98

Earlier quoted context omitted.

Absolutely, it's materials science. Most electronics like this aren't meant to be run full-tilt 24/7, especially not under the conditions that crypto mining typically occurs. Subpar cooling, potentially dirty air - so lots of dust and particulate. Not to mention crypto miners will often have the GPUs overclocked on top of running full tilt to get every last hash out of it. It's about as brutal of a situation as you c…

Everything you just said is total nonsense. This idea that you are going to "wear out" a GPU is something people started saying when they were obviously bitter about not being able to find GPUs and seeing them being resold later for more than retail after they had been used for mining. There is nothing to back this up unless something melts.

by wear out means losing power/heat efficiency

you absolutely can wear out a GPU with excessive mining.

Re: Nvidia Limits RTX 3060 Hash Rate

#473

Post by buzzerbetrayed »

sandworm101 wrote: post #422
buzzerbetrayed wrote: post #389

Earlier quoted context omitted.

> So i am going to scream, boycot and lobby government against them until the needs of thier shareholders bend a little closer to those of thier consumers This line of thinking scares me. It’s basically saying “they aren’t doing what I want so let’s use the government to make them do what I want!” How is this freedom? Forcing people to bend to your will though government is the opposite of freedom, and should be used…

Unlike certain politicians, i do not consider publicly traded corporations to be "people". I dont really care about thier feelings, even thier rights. Corporations are a legal fiction created for a specific purpose, not persons with emotions.

> i do not consider publicly traded corporations to be "people". I dont really care about thier feelings, even thier rights.

Whatever helps you sleep at night I guess.

The fact is that corporations are made up of many people, so at a basic level you’re still compelling people who want to do what _they_, to do what _you_ want, through government.

But it’s pretty clear that you and I are never going to agree on this. So probably not worth discussing too much further.

Re: Nvidia Limits RTX 3060 Hash Rate

#474

Post by mlyle »

Anderkent wrote: post #465
aseipp wrote: post #458

Earlier quoted context omitted.

The entire point of this subthread you're responding to is that the cost of transactions is so energy intensive that those "other benefits" are null and void. It's called an externality. It doesn't matter if you'd pay $10 for it if the cost imposed is too great. There are a lot of things people would absolutely pay for that we don't allow, because of that. Dumb weird fantasies about decentralization or counterparty r…

> It's called an externality. It doesn't matter if you'd pay $10 for it if the cost imposed is too great The cost imposed is proportional to the fee, since the fee has to pay for the electricity used to mine the transaction. And $10 of electricity is just... not a lot to worry about. If you believe the electricity consumption in general has huge externalities, you have bigger problems than mining, and once you addres…

> The cost imposed is proportional to the fee, since the fee has to pay for the electricity used to mine the transaction.

No. Miners get rewards for mining blocks, which pay for 80%. Transaction fees don't pay for the electricity used in a transaction: not even close.

> If you believe the electricity consumption in general has huge externalities

Well, sure, I believe that electricity is artificially cheap. I also believe that spending $50+ of electricity per transaction done is absolutely nuts. And that amount is steadily increasing...

Re: Nvidia Limits RTX 3060 Hash Rate

#475

Post by arcticbull »

anonisko wrote: post #450
lurgburg wrote: post #440

Earlier quoted context omitted.

Perhaps a simple ban on converting fiat -> to bitcoin would go a long way? It wouldn't be absolute, black markets are a thing, but there are costs to participate in a black market, which costs will rise over time as good old physical cash declines.

It's definitely not this simple. How would you execute an exchange ban politically? Any politicians who did this would be responsible for instantly vaporizing tons of value owned by an increasingly non negligible fraction of the population that spans a broad spectrum of political affiliation. An exchange ban also wouldn't stop bitcoin, because the network would still continue running and anyone cutoff and stuck with…

Same way Nigeria is/did, and India is/did. You give folks 6 months to cash out and you tell the exchanges to board up their windows.

Re: Nvidia Limits RTX 3060 Hash Rate

#476

Post by ddtaylor »

mseidl wrote: post #447
ddtaylor wrote: post #119

I don't think Nvidia (or most companies) should be deciding what to do with the tools they sell. I don't want someone telling me what software I can run with my CPU or GPU any more than I want someone telling me what I am allowed to build with the hammers or screwdrivers I buy.

Fuck miners. They drove the cost of the 1000 series cards up when btc peaked at 14k. Then the 2000 series was the same price as when the btc peaked. Now the 3080 is selling at 2000+ euros.

The problem is really more to do with the fact that intellectual property makes the production of these highly demanded resources very constrained.

Re: Nvidia Limits RTX 3060 Hash Rate

#477

Post by Fomite »

gruez wrote: post #156
Retric wrote: post #136

Earlier quoted context omitted.

That depends on how valuable the last 5% of your hash rate is and local electricity prices. Running an OC especially for memory can objectively be the correct choice. For collage dorms for example rarely charge based on electricity use. Some apartment complexes also include electricity as part of the rent.

>For collage dorms for example rarely charge based on electricity use. Some apartment complexes also include electricity as part of the rent. Those situations are rare. A student in a college dorm isn't going to be able to afford multiple GPUs for a mining rig, and if he's mining with one GPU, he's likely going to keep it when the crash comes rather than trying to sell it into a flooded market. Apartment mining is mo…

"A student in a college dorm isn't going to be able to afford multiple GPUs for a mining rig"

I have met several counter examples.

Re: Nvidia Limits RTX 3060 Hash Rate

#478

Post by tomnipotent »

mr_toad wrote: post #466
arcticbull wrote: post #242

Earlier quoted context omitted.

> The CMP version is a straight-to-landfill product. As soon as it stops being profitable for mining it will have zero resale value, and become e-waste. Like literally every other piece of Bitcoin or crypto mining technology. It’s straight to the landfill every 6 months. Bitcoin generates 100 GRAMS of ewaste for every transaction. Every 2 transactions consumes as much energy as driving a Tesla from SF to NY [edit for…

> Time to push back on proof of waste, and end the economic incentive. That won’t stop Nvidia having a near monopoly on high end GPU. They use this to jack up the price of machine learning cards as well.

> They use this to jack up the price

The Titan RTX is ~$2,500, which is incredibly well-priced considering that a 100G dual NIC is going to cost you $1,250.

Re: Nvidia Limits RTX 3060 Hash Rate

#479

Post by qqii »

Azeralthefallen wrote: post #397
qqii wrote: post #248

Earlier quoted context omitted.

How did you reach this conclusion? Do you have some sources and numbers? https://ourworldindata.org/grapher/global-energy-substitutio... puts the latest number at 173,340 TWh in 2019. This is an underestimate for the current value as energy consumption has been increasing. https://cbeci.org/ estimates the annualised consumption based on a 7 day moving average of 120.87 TWh for bitcoin. To be generous let's assume all…

https://cbeci.org/cbeci/comparisons Right here it says `20 863 TWh` which is nearly 10 times your worst case.

Note the difference between only electricity and other forms of energy, the value listed is total electricity production/consumption.

Re: Nvidia Limits RTX 3060 Hash Rate

#480

Post by ddtaylor »

wruza wrote: post #462
ddtaylor wrote: post #119

I don't think Nvidia (or most companies) should be deciding what to do with the tools they sell. I don't want someone telling me what software I can run with my CPU or GPU any more than I want someone telling me what I am allowed to build with the hammers or screwdrivers I buy.

High chance of changing your mind when these tools get hoarded by those who do not build anything at all and only race arms. Mining business is basically that.

I think the market is working as expected here, since a higher price is placed on the ability to decentralize finance versus having a few people playing video games at higher quality. If you're interested in machine learning there are resources specifically for that, such as Google's Tensorflow Processing Units (TPUs)
Post reply on HN