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Earlier quoted context omitted.
Not you, as an individual, but as a society, absolutely. There are plenty of laws that regulate or forbid certain activities.
Surely, but are we going to discuss making mining illegal because it drives up gpu prices?
Earlier quoted context omitted.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
That's an interesting concept Why doesn't Nvidia use the cards themselves to mine? Not for the attack but for the profit? Each card is obviously cheaper to produce than they are selling it for. Why not maximize all the profit?
Cloud / data center GPU consumption has also gone up in the past couple years.
I work in deep learning and had to camp out in front of a best buy to get my hands on some 3090s. A good portion of the people in line with me were crypto miners who were waiting to get more GPUs to add to their collection because they're making money on each one and as long as it's profitable it makes perfect sense for them to buy up more.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
"A GPU attack on BTC" Jésus help us
It's been years since the crypto boom - why hasn't production ramped up accordingly? Or are manufacturers waiting forever until it blows over? Because that may never happen.
Last crypto boom crashed leaving manufacturers high and dry. Nvidia had a 9-figure write-off IIRC.
I work in deep learning and had to camp out in front of a best buy to get my hands on some 3090s. A good portion of the people in line with me were crypto miners who were waiting to get more GPUs to add to their collection because they're making money on each one and as long as it's profitable it makes perfect sense for them to buy up more.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
I work in deep learning and had to camp out in front of a best buy to get my hands on some 3090s. A good portion of the people in line with me were crypto miners who were waiting to get more GPUs to add to their collection because they're making money on each one and as long as it's profitable it makes perfect sense for them to buy up more.
If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time. Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves, cash out, and it'd probably reg…
And what's to blame for Bitcoin's high price? A broken fiat monetary system. I can't believe some people still think that Bitcoin is more speculative than major tech stocks. Facebook, Twitter, Google, Uber, Snapchat... All propped up by money printing. I think if we ran a simulation using hard (non-fiat) money, the net losses of these big tech companies would be even more significant than Bitcoin's losses on electric…
This post is frankly delusional. You say a bunch of things but have zero explanation for WHY those things might be true. It’s clear at this point that Bitcoin has become an utter failure for almost all the things it was supposed to do, aside from making certain people rich due to speculation.
Oh wait
> Bitcoin miners rarely use GPUs anymore, but ASICs Seeing the title and the conclusions, how can this be the case? Computationally they're not much behind ASICs per $, are much more broadly available to buy and are easier to sell when needed.
Anyone who buys a GPU second-hand is an idiot. They would have been running at maximum silicon temperature 24/7 with the result of massive wear.
For the same reason you might (needs detailed analysis) economically be better off overall by keeping the temperature in your house constant as opposed to saving energy with a schedule.