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Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

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Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#521

Post by goodlinks »

I mine with my gpu when i dont use it for other things.. i am still using the heat it geterates, it genuinely allows me to have the central heating off for more months of the year and on for fewer hours when i do use it.

I considerd selling my 3080 as i struggled to justify keeping it given the price they go for on ebay, but in the end kept it due to concerns over the chip shortage..

Gamers are miners are scalpers..

im not a fan of companies dictating what i do with things i bought from them..

Level1techs did a video on using tesla gpus for graphics, so all of this seems like bullying really to me as a consumer.. if nvidia want to help make that easier!

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#522

Post by lazide »

__blockcipher__ wrote: post #500
kbenson wrote: post #449

Earlier quoted context omitted.

> Scalpers hurt literally everyone. Not entirely true, and also not accepting that one person's "scalper" is another person's "bought this but decided I would rather have the money it seems to be worth now that I see how much this is". Secondary markets provide liquidity, allow for original sellers to trade money for time, provide reputational protection based on societal perceptions (this one is a bit weird, and may…

Yeah I always find it interesting that statements like that ("scalpers hurt literally everyone") can just be made and treated as gospel by most people. Not only is the statement not self-evident, but to your point, just a small amount of thought on the issue makes it obvious what the value is. People love to get mad at a scapegoat rather than a root cause. So you blame the scalper rather than realizing that the conce…

Do you have any data on that ‘majority of people buy from scalpers’ claim?

One reason for anti price gouging laws is that it is not uncommon for people to buy out all supply, then turn around and charge more/sit on a stockpile to solve the artificially created shortage they themselves created - a term for that being ‘cornering the market’.

I haven’t generally seen too much anger at someone legitimately opening up supply by importing more or opening up more supply lines (especially if they say that’s what they’re doing). People have been pretty open to paying more in that case (albeit maybe not 10x more, though that is more because it’s hard to plausibly have such an increase in cost without literally airdropping supplies - which is a different beast).

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#523

Post by goodlinks »

goodlinks wrote: post #521

I mine with my gpu when i dont use it for other things.. i am still using the heat it geterates, it genuinely allows me to have the central heating off for more months of the year and on for fewer hours when i do use it. I considerd selling my 3080 as i struggled to justify keeping it given the price they go for on ebay, but in the end kept it due to concerns over the chip shortage.. Gamers are miners are scalpers..…

I wonder what the carbon footprint of a new gpu is.. it would be great to see all the old mining and ai cards being used to game on. I bet they can all do a decent 1080p game no?

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#524

Post by TchoBeer »

amelius wrote: post #183
FinanceAnon wrote: post #178

Earlier quoted context omitted.

"In a gold rush - sell shovels."

Yeah, but don't sell crippled shovels.

All the gold rushers buy all your shovels, and now gardeners can't get shovels to tend to their gardens.

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#525

Post by SrslyJosh »

kyboren wrote: post #512
caconym_ wrote: post #165

Earlier quoted context omitted.

My next GPU is going to be one that a) supports the features I want, and b) that I can actually go out and buy without putting hundreds or thousands of dollars into some economic parasite’s pocket. It’s not just “hard” to buy high-end GPUs right now—it’s impossible unless you make a lifestyle out of chasing them down. If this has any effect on anybody who isn’t a crypto miner, it’s going to be to open up possibilitie…

They are not economic parasites. They are the physical manifestation of the Invisible Hand. These are people doing God's work making an efficient market. If you don't want arbitrageurs to capture that value, maybe NVidia should start pricing their products correctly so that they capture the value. This isn't rocket science. > If this has any effect on anybody who isn’t a crypto miner, it’s going to be to open up poss…

> Then they came for the cryptocurrency miners, and I did not speak out-- Because I deserve a subsidy for my video gaming habit.

Are you suggesting that anyone who buys something and then doesn't use it to generate the maximum profit possible for themselves is being subsidized by someone else?

That doesn't even remotely make sense.

What's your stake in cryptocurrency?

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#526

Post by paulmd »

Franciscouzo wrote: post #420
valuearb wrote: post #156

Earlier quoted context omitted.

Serious miners are buying Antminers, not video cards.

Antminers are for mining Bitcoin, GPUs are mostly used for Ethereum.

https://www.coindesk.com/bitmain-antminer-e9-asic-ethereum-m...

ethereum is asic-resistant, not asic-proof. It doesn't mean you can't make ASICs, just that ASICs are <10x as efficient as an equivalent-node GPU, vs millions of times more efficient for bitcoin/etc.

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#527

Post by paulmd »

ssully wrote: post #62
Scoundreller wrote: post #19

Earlier quoted context omitted.

Going to be a fun future game of cat-and-mouse as miners figure out how to disable/bypass nvidia’s electronic countermeasures.

They previously did this with the 3060 cards, but accidently released beta drivers that unlocked the countermeasures [1]. I am sure people just start with using those drivers on the 3070/80 cards. [1]: https://www.theverge.com/2021/3/15/22331537/nvidia-rtx-3060-...

the new cards (and the new revisions of the old cards) won't work on the old drivers

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#528

Post by belltaco »

arthurcolle wrote: post #292
knorker wrote: post #155

Earlier quoted context omitted.

Would you say the same if you could mine bitcoin by buying up as much medicine as you could, and burning it? Because if you think the above behavior isn't "earning income" clearly better than "play video games", then your argument falls completely flat.

this is a total false equivalence. you’re really comparing computing hashes to buying medicine and destroying it?

>Air pollution accounts for 1 in 8 deaths worldwide - approximately 7 million deaths in 2012, according to new data from the World Health Organization (WHO). The findings, released in late March, doubled previous estimates from just a few years ago in 2008. WHO now characterizes air pollution as “the world’s largest single environmental health risk.”

https://www.niehs.nih.gov/research/programs/geh/geh_newslett...

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#529

Post by Dylan16807 »

__blockcipher__ wrote: post #500
kbenson wrote: post #449

Earlier quoted context omitted.

> Scalpers hurt literally everyone. Not entirely true, and also not accepting that one person's "scalper" is another person's "bought this but decided I would rather have the money it seems to be worth now that I see how much this is". Secondary markets provide liquidity, allow for original sellers to trade money for time, provide reputational protection based on societal perceptions (this one is a bit weird, and may…

Yeah I always find it interesting that statements like that ("scalpers hurt literally everyone") can just be made and treated as gospel by most people. Not only is the statement not self-evident, but to your point, just a small amount of thought on the issue makes it obvious what the value is. People love to get mad at a scapegoat rather than a root cause. So you blame the scalper rather than realizing that the conce…

> The irony is of course that selling at an artificially low price doesn't suddenly make it not for rich people, it just adds a small random chance that you'll be able to convert your own time sitting there refreshing the website across many browsers into a cheaper-than-it-should-be ticket.

That depends on the level of demand and how low the price is.

It's pretty easy to have a situation where the number of tickets available is higher than the number of people that would have bought tickets for themselves on day one, but you hit immediate shortages when scalpers are also buying.

In a situation like that, scalpers are doing almost all harm. They add liquidity to a situation that already had enough liquidity, and extract tons of money in exchange.

> If you drive across state lines to bring HAM radios or water filters or what-have-you during hurricane katrina

That's the positive case. The negative case is someone buying it and putting it in their garage, or a store vastly increasing the price on something people need and they already had.

If you're trying to get paid for your labor, like driving essential supplies around, I would not call that gouging in the first place.

Re: Nvidia cripples cryptocurrency mining on RTX 3080 and 3070 cards

#530

Post by paulmd »

gruez wrote: post #222
justaguy88 wrote: post #93

Earlier quoted context omitted.

Graphics cards without display outputs are still useful, you can use them for VFIO and gpgpu workloads

What's the market for second hand GPUs for scientific computing, compared to second hand GPUs for gaming?

like anything else, worth quite a bit to the right customer, until they become functionally obsolete (f.ex: nobody really cares about Kepler hardware anymore and it's gotten quite cheap)

https://www.ebay.com/sch/i.html?_from=R40&_trksid=p2380057.m...

now, being that mining cards didn't start at $10k per card to begin with, they won't sell at $10k per card on the secondhand market, but they'll do OK.

at a hundred bucks, why wouldn't you pick one up for your folding@home rig, vs paying full freight for a card with a graphics output you'll never use?

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