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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

#651

Post by the_cat_kittles »

akelly wrote: post #441

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…

my 1080 ti sells for 30% more than i paid for it 3? 4? years ago. its price has fluctuated in mostly perfect tandem with crypto. just based on first hand experience, your claim (if its what you are actually claiming) that miners arent influencing the price is pretty wrong.

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

#652

Post by onethought »

shagie wrote: post #579
onethought wrote: post #501

Earlier quoted context omitted.

Not really. I’m not sure I even believe the “grids weren’t designed for feed in” bs. Wires don’t care where the electrons come from, and they have no problem with me drawing the same load I feed in... so something doesn’t add up. But I’m no electrician... just cry a little at 7-10kw excess that i either have to pay to feed in or earth. I don’t see anything I’m doing as a wrong. Literally just wasted energy... why not…

https://www.landisgyr.com/ezine-article/making-way-two-way-p... > In the old days, when power companies were the only generators in town, control devices like regulators, capacitors or relays were designed to assume that power flowed in only one direction. “If they saw power flowing in the other direction, they typically tripped or misbehaved, causing customer outages or power quality issues,” Kuloor says. This tende…

This all feels like a buffering problem. Can power companies not just buy big batteries... you wouldn't even need that many, just enough to signal generators to do the right thing.

(Also no idea all the gadgets in-between house and generators, but assuming all the gadgets can handle load going in and out)

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

#653

Post by berdario »

delfinom wrote: post #516
RhysU wrote: post #507

Earlier quoted context omitted.

Someone learned from the Cisco hardware glut in the dot com crash!

Just don't give them ideas about Cisco's current solution of moving to subscription based licensing network switches

That's basically GeForce Now, in this context...

So, I'm afraid that they already got (and applied) the idea :p

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

#654

Post by koluna »

webinvest wrote: post #580
koluna wrote: post #569

Earlier quoted context omitted.

Value that basically doesn’t exist without real money behind it? That can be used as… well, money without the energy waste?

Yes, some of them can be used without the energy waste. As far as value goes, Dogecoin likes to say on it’s website, 1 Dogecoin = 1 Dogecoin. It’s done a pretty good job at holding that value, lol

Despite what any website might say, all of the hype and “value” of crypto always comes back to dollars. If you take that away, I don’t see how anyone will want to stick around short of super hardcore techies.

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

#655

Post by kyboren »

graynk wrote: post #646
kyboren wrote: post #499

Earlier quoted context omitted.

No, scalping is a loaded word for reselling. This whole situation, and especially the anger at other market participants from people like you, is totally ridiculous. We know how markets work. NVidia is pricing their units at far below market value. What did you expect? Next you'll complain that water is wet and that the wind blows. NVidia could solve this problem immediately by correctly pricing their units. If they…

> We know how markets work Badly. They work badly. > But instead they insist on continuing to mis-price their products They are not mis-priced, they are already a pretty hefty buy. If the prices were to increase even further, _then_ it would be mis-priced, as no-one needs to spend this much on a videocard to play videogames. The fact that gamers have to compete with miners (for whom it's an investment) and AI researc…

No, they work very well. You just don't like it because other people are willing to pay more than you are.

> They are not mis-priced

They are mis-priced. The market value is much higher than MSRP, which you can see on e.g. eBay. There is nothing to justify here, it is simply an objective fact they are mis-priced.

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

#656

Post by vladvasiliu »

Qwertious wrote: post #464
vladvasiliu wrote: post #168

Earlier quoted context omitted.

I suppose the "long term customers" for these GPUs are gamers, right? Don't they also come and go? I don't particularly follow this as I'm not really into games, but it seems to me that AMD has had quite an impressive growth recently. Does that mainly come from people new to the market? I'm actually a "new to the market" buyer, and I bought an AMD mostly because I'm mainly a Linux user and didn't want to take any cha…

It's a matter of loyalty - miners have zero loyalty and will always buy whatever their spreadsheet says is cheapest. In contrast, gamers tend to stick with brands, and if they're forced to switch due to lack of supply, their loyalty (and therefore future bias toward you company) might switch with it. So while miners may be willing to pay more money per card today, they're not worth the future loss of revenue. Like yo…

Fair enough, I must have underestimated the loyalty part.

Probably because I'm not much of a gamer and hardly have brand loyalty in general. I always tend to compare products and buy what seems to be the better value.

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

#657

Post by gayfox »

akelly wrote: post #441

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…

Gamers won't be buying used 30xx cards from miners because by then nvidia will have released 40xx cards. Gamers are mostly kids running after shiny things.

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

#658

Post by einpoklum »

irq wrote: post #592
Clewza313 wrote: post #565

Earlier quoted context omitted.

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.

Please stop doing that. You are just wasting energy.

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

#659

Post by tomnipotent »

kbenson wrote: post #644
scoopertrooper wrote: post #635

Earlier quoted context omitted.

> 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. You're right they are scalpers; they are buying more than needed with the hope of making a quick buck. However, like most things it's a matter of degree. Your friends were acting in the wrong and in the aggregate they did harm the market, but the people doing it p…

> Your friends were acting in the wrong and in the aggregate they did harm the market Please explain this harm to the market. I don't see how the market was harmed in any way. > They create scarcity in the primary market, which forces people into the secondary market. There exists scarcity in the primary market, because otherwise there would be no benefit to buying the tickets. That's a fundamental misunderstanding y…

> So is Amazon

You lost your entire argument right there. Amazon doesn't price gouge, and buys with the express intent to sell with reasonable margins to customers. They provider valuable services, like customer service and fast delivery. Scalpers provide jack shit value other than trying to rip off customers because they got something first, while offering no other value to customers.

> they provide liquidity

No, they don't. They steal liquidity, and sell items at markups while offering no other value to customers. None. Zero.

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

#660

Post by chme »

Reason077 wrote: post #636
actually_a_dog wrote: post #469

Earlier quoted context omitted.

> 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 of Stake, the miners will flood the used market and ruin Nvidia's profits for a few quarters. Nvidia is trying to get miners to buy mining-only cards, because those can't be sold to gamers down the line. They'd rather mining cards become e-waste in a few years t…

> ”Nvidia has no incentive to make sure the GPU market operates in a sustainable way by supporting a secondary market.” They do in the sense that buyers often consider future resale values when making primary purchase decisions. It’s much easier to justify purchasing a $2500 “enthusiast” graphics card if you’re confident you can get a decent chunk of that back when you sell it in 6-12 months. Similarly, car makers ar…

I would really like to see some data on how much resale value factors in for purchase decisions in regards to gaming equipment in average.
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