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Are cryptocurrencies to blame for high GPU prices?

blog.libove.org

41–50 of 352 posts

Re: Are cryptocurrencies to blame for high GPU prices?

#41
post #16

Cloud / data center GPU consumption has also gone up in the past couple years.

If you mention anything about the cloud, deep learning training on GPUs and the impact on the environment that has and the increasing costs of training and fine tuning your neural net, they won't care at all, they will still do it after all these years. As you know it is still a valid point.

> If you mention anything about the cloud, deep learning training on GPUs and the impact on the environment that has and the increasing costs of training and fine tuning your neural net, they won't care at all, they will still do it after all these years.

There is a recent trend to discuss environmental impacts of training deep learning models in papers. See e.g. Latent Diffusion Models (Heidelberg), RETRO (Deepmind).

Further, I would posit that machine learning has a much clearer value proposition than cryptocurrencies which are a highly speculative.

Finally, your argument is an example of https://en.wikipedia.org/wiki/Whataboutism. Rather than arguing against facts presented you are changing the subject to say "look here though! this happens here and you're all hypocrites for not noticing it!" This makes your argument seem defensive, biased and unconvincing.

Re: Are cryptocurrencies to blame for high GPU prices?

#43
post #8

Assuming everyone commenting here has read the post, if it is 'cryptocurrencies' 'like' Bitcoin and Ethereum that use PoW? Then, that is an undeniable, and an undisputed; Yes. However, if you are talking 'cryptocurrencies' that means you are talking about all of them. Not all cryptocurrencies are like Bitcoin, and Ethereum and not all of them use PoW. So the title should be: 'Is Bitcoin, and Ethereum to blame for Hig…

There exists a (niche?) area of cryptocoins which are rewards for producing CPU / GPU intensive work - one example is GridCoin but many others are put there once you start searching. The result is there are work farms out there computing data arguably for good reasons (cancer research etc.) but in effect you have the same environmental cost as PoW chain computations as they chase the coin rewards.

Re: Are cryptocurrencies to blame for high GPU prices?

#44
post #13

Alternate answer: No, the manifacturing cost of the gpu stays relatively the same, greedy sellers increase price because of the increased demand. It's not like they wouldn't make profit on regular prices.

Cost is not price. The article is about price.

Cost is a major factor of price (so is profit margin). By stating that cost is relatively the same I highlight the stable factor in the price, at the same time highlighting the changed factor in the price (profit)

Re: Are cryptocurrencies to blame for high GPU prices?

#46
post #33

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.

I've read that takes 2 years to get a new semi-conductor fab up and running. While demand for GPUs has skyrocketed not only in crypto but in other areas.

Couple that with us going into 2 years of global lockdowns and subsequent supply disruptions have probably exacerbated the situation greatly.

Re: Are cryptocurrencies to blame for high GPU prices?

#47

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…

It wouldn’t matter if Google or Facebook’s profit was denominated in ETC, BTC, or fiat; those companies are massively profitable.

Re: Are cryptocurrencies to blame for high GPU prices?

#48
post #35
post #13

Alternate answer: No, the manifacturing cost of the gpu stays relatively the same, greedy sellers increase price because of the increased demand. It's not like they wouldn't make profit on regular prices.

It seems odd to single out greedy sellers when the key demand here is people hoping to print money. It's all greed here.

For the matter of price, i don't care what other buyers do with their purchased goods. I care how the seller treats the customer.

If we were to discuss other aspects of mining then yes, i would point to other greedy participants in this chain

Re: Are cryptocurrencies to blame for high GPU prices?

#49
post #33

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.

Re: Are cryptocurrencies to blame for high GPU prices?

#50

Earlier quoted context omitted.

All cryptocurrencies are the same scam anyway, really don't see the need to differentiate this way.

Some of them artificially inflate the cost of hard drives instead of GPUs, totally not the same!

Are storage prices inflated at the moment? How is a physical commodity comparable to a ledger with hashes, ultimately assigned a value purely out of demand, despite being devoid of any actual purpose or usefulness?
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