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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

#191

Post by banana_giraffe »

ahD5zae7 wrote: post #172

Actually, is there a need to block anything? They're coming up with a mining-focused product line now. Just make them slightly cheaper per hash and voila - all miners will be buying the mining-focused products. They lack the video outputs so it makes sense, you can skip some of the BOM on the card, save a few bucks. As it has already been mentioned in the thread miners are super sensitive to squeezing every cent out…

My understanding is there is a concern that cryptocurrency miners are buying GPUs, using them for a few weeks to determine which ones they can overclock, and selling the ones they can't (and have probably limited the life of in the process) since you can probably sell a 30 series GPU for more than you got it for, even if you're upfront about it being used.

All of that isn't possible with the mining-focused line, so Nvidia feels they need other tools to help convince the cryptocurrency miners to move over, hence the block.

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

#192

Post by rvanlaar »

amelius wrote: post #175
warent wrote: post #129

Earlier quoted context omitted.

Probably because it's just not their business. They don't need to confuse their objectives with bitcoin to get rich, they're doing exceptionally well without it

Then why is Elon Musk trading Bitcoins? Tesla makes more money trading Bitcoin than selling cars. https://www.wsj.com/articles/tesla-makes-more-money-trading-...

Tesla stopped accepting bitcoin. https://abcnews.go.com/Technology/wireStory/tesla-stop-accep...

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

#193

Post by ReptileMan »

belltaco wrote: post #24
arthurcolle wrote: post #10

Earlier quoted context omitted.

How is someone mining on GPUs they bought themselves infringing on your freedom, pray tell?

The extra power usage is destroying our planet all for someone to try and make a quick buck, and causing shortages of GPUs during a pandemic where mental health from entertainment like gaming is valuable and stops people from going outside and getting/spreading the virus. The incentives for crypto all are f'ed up right now. The ETH PoS switch can't come soon enough.

The moment Trump and Covid just don't deliver the current ROI of clicks for the media, suddenly we started hearing about how terrible crypto electricity usage is.

The same way plastics are suffocating the fishes got forgotten the moment everyone started to litter the world with masks and packaging from food delivery.

It is manufactured news story the same way that next one will be.

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

#194

Post by rsuttongee »

I mean, the cards are selling at 3-4x MSRP right now. Won’t halving the hash rate just cause the price of the cards to drop to 1.5-2x MSRP and miners just buy twice as many?

Possibly good for NVDIA I guess (selling twice the units assuming the can make enough), but I don’t see this helping gamers get cards in hands.

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

#195

Post by Daishiman »

amelius wrote: post #175
warent wrote: post #129

Earlier quoted context omitted.

Probably because it's just not their business. They don't need to confuse their objectives with bitcoin to get rich, they're doing exceptionally well without it

Then why is Elon Musk trading Bitcoins? Tesla makes more money trading Bitcoin than selling cars. https://www.wsj.com/articles/tesla-makes-more-money-trading-...

Because Tesla's most valuable product aside from the cars is the memes.

I am not kidding. It seems a substantial proportion of TSLA buyers aren't really interested in its fundamentals but like what Elon tweets out.

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

#196

Post by agloeregrets »

superbaconman wrote: post #188

I'm on the fence about switching from console to pc, but I've still been trying to get a 3000 series card anyway. The ability to use the cards for ml and crypo in addition to gaming is appealing, but moves like this just make me think sticking to xbox and my gtx560 is best.

> I've still been trying to get a 3000 series card anyway

...I think I know why you can't get one. In all seriousness though, using GPUs for mining has trashed the gaming market and made entire realms of PC gaming inaccessible to lower income people, it's an incredible shame.

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

#197

Post by vladvasiliu »

PragmaticPulp wrote: post #78
varispeed wrote: post #73

Earlier quoted context omitted.

What is the business case for prioritising casual non-tech customer over bulk order specialist customer?

The casual customer will still be buying GPUs 10 years from now. The bulk order GPU miners will stop ordering GPUs the minute mining becomes unprofitable. With proof-of-stake and ASICs on the horizon, this could happen rather abruptly. When miners are done with GPUs, they're going to unload them on the secondary market. The used GPU market is going to be flooded with GPUs that have been overclocked and run with the d…

This doesn't really make sense to me. What would the "casual customer" do if nvidia didn't introduce this segmentation? Would this completely halt the gaming industry such that 10 years from now no one would even consider buying a GPU? I don't believe that.

Also, if they're able to produce both consumer GPUs and miner GPUs to meet both demands, what's stopping them from doing it now? Is it not worth their while at current prices, so bumping the miner GPU prince by a significant amount would change that? Why not just increases prices as it is? It seems to me that the actual price charged by amd and nvidia isn't that outrageous, it's just that the cards are bought well in advance and possibly scalped later.

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

#198

Post by amelius »

rvanlaar wrote: post #192
amelius wrote: post #175

Earlier quoted context omitted.

Then why is Elon Musk trading Bitcoins? Tesla makes more money trading Bitcoin than selling cars. https://www.wsj.com/articles/tesla-makes-more-money-trading-...

Tesla stopped accepting bitcoin. https://abcnews.go.com/Technology/wireStory/tesla-stop-accep...

This was about trading Bitcoin, not accepting it as a payment method. Plus, it doesn't really change the question.

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

#199

Post by yoz-y »

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.

There are more than enough people out there that want to just play games or do research. Miners are only making nvidia look worse. Their core demographic is getting disenchanted because what good is a great cheap graphic card, if you can never buy one.

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

#200

Post by CPAhem »

nyjah wrote: post #125

I have a dumb theoretical question, but I genuinely don't understand the answer. Why wouldn't nvidia and amd or any other card maker just keep the cards and mine all the cryptocurrency for themselves?

Nvidia want to charge more for cards that can mine crypto currencies. Just like they want to charge more for the same product if it is used in data centers.

It's a way of artificially segmenting the market.

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