601–610 of 818 posts
As if literally armies of highly skilled technical miners aren’t going to quickly bypass whatever Nvidia has cooked up.
They mess with the drivers? almost instant workaround. They mess with the hardware? That army will go through the GPU instructions one at a time until they find a way to change the mining software.
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> 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…
> 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". That’s a bit of a straw man, literally no one considers that scalping. It’s generally understood to mean buying more of scarce product than you could ever possibly need with the intent to sell it at a massive markup. S…
That is by no means the accepted definition, nor an apt description. I know people that bought two PS3's when they came out in 2006, one to play, one to sell. That is generally accepted as "scalping", but they were not buying more than they could ever possibly need.
Many, many people that participate in the resale market are people acting like this. They buy tickets for themselves and some extra ones while they're at it because they were lucky enough to by available at the right time and/or get lucky. Sometimes they also do it for the occassional event or good they don't plan to use.
These are "scalpers" in every single single sense of the word, and the only difference between them and someone that makes a business out of it is scale.
> Scalpers are parasitic rent seekers in the digital age. They do nothing to improve the logistics or liquidity of markets. They merely seek to monopolise supply to extract profit from consumers for a product they did not produce.
Scalpers are just brokers that work in a different product. They make money by arbitrage, where the primary sales market is underselling a good compared to the secondary sales market. Additionally, they provide accurate market pricing because people responsible in the primary market don't want to for whatever reason (common ones includes upsetting ones fans, it being more work, harder to work out contract payments, etc).
And lest you think it's easy to just point at scalpers/brokers and at all the money they make because they're selling a $50 ticket for $200, consider that those are the extreme cases, and relatively few tickets go for that. There's also many tickets that go under cost. In the same event. By significant amounts. It's not uncommon to get tickets for 20% cheaper on stubhub. In some cases, when brokers have bought tickets and the event didn't sell out, you can find tickets for single digit dollars that went for $40+ originally.
I've talked about this before here.[1] In that example, I pointed to the market conditions for a specific event at that exact moment, where the primary market (TicketMaster) wasn't sold out and charging $39.50, TicketMaster's own secondary market was charging $36.50 for the same tickets, and Stubhub was charging $27. Who reaps the benefit of getting tickets for more than a 25% discount? Who do you think ended up paying for that? Where do you think the funds came from to pay for that? (here's a hint, you need to make an occasional 200%-300% profit in that business to break even over the long run in a lot of cases)
Here's another question, why and how is this different than the stock market, and in the ways it's different, how does it matter to the perspective you're expressing?
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Aren't scalpers only there because the product is clearly underpriced? Why not increase prices till the scalpers are gone or simply auction the GPUs off? That's clearly what the market is pointing at.
This is missing half the story. Yes, things can be temporarily underpriced and then an appeal to scalpers makes sense, as scalpers can instantly raise the price to the market clearing rate. But at the same time they can instantly lower the price to the market clearing rate. What manufacturers and consumers both want is price stability. They want prices to change in regular intervals and in predictable amounts. Both p…
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With today’s ETH prices, electricity costs are a fraction of the revenue from mining. Like, on the order of less than 10%.
That's brutal... isn't the hash difficulty supposed to automatically increase to compensate? Is it actually the case that the limiting factor on hash rate right now is how quickly Nvidia is willing to sell GPUs?!
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Couldn't one just not upgrade their drivers? NVIDIA has no way of crippling an offline system.
Cards that have already been sold don't matter. New cards however become worthless to miners so the demand should go down as well as the prices. We will probably see cards with old firmware show up on eBay for a lot more money than new cards.
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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...
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Someone learned from the Cisco hardware glut in the dot com crash!
can somebody explain?
This won't really do anything for availability or reducing scalper pricing. Miners are a sizeable proportion of sales but far from the majority. Gamers will be able to buy more of these GPUs but less of the non-LHR or AMD GPU's. GPU prices won't actually change. The real reason Nvidia is doing this is that when mining profitability inevitably drops, either because of a crypto price crash or Ethereum moving to Proof o…
After being used for mining, it's e-waste whether or not it has video out. This helps prevent some poor sucker from buying e-waste.
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GPUs by definition are not general purpose computers. Remember the G in GPU stands for Graphics, not General.
That hasn't been true in a very long time. You can run arbitrary code on a GPU.
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Is there anything sustainable about Bitcoin? But getting back on topic, Bitcoin miners long since moved to custom ASICs, you can't make a profit with GPUs any more.
I make $7-8 per day, after electrical costs, letting my 2080ti (normally used for flight sim, but when not in use…) run nicehash’s miner software. My electricity costs $0.0816 per kWh. Not a ton of money but it adds up after a month and the GPU was a sunk cost since I got it for gaming. It literally is profitable, for my situation anyway.