Earlier quoted context omitted.
You can argue whatever you want, it's distributing coins to the people who secure the network.
So, PoW then.
Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
461–470 of 762 posts
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#462Earlier quoted context omitted.
Just wait until they'll limit ML/DL using those heuristics because you're supposed to buy specialized hardware and let gamers play their games. First they came for the miners, and I did not speak out.
So let’s wait until BTC hits $100k and a generic videocard for any purpose costs $5000. That would be much better than paying extra $200 over MSRP for ML. /s
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#463I would normally be appalled by such an action, but the supply issues for RTX 30x0 cards are beyond ridiculous. Mining trashes the environment and, for the majority of crypto assets/volumes, does not provide genuinely valuable economic activity besides speculation (I say that as someone who has put thousands of dollars into crypto in the past). Why should people who want to try some ML/DL at home (maybe they even nee…
The practical utility of crypto is such a joke when compared to the intended use cases that all of the speculators fawn over. The idea that crypto is a "store of value" seems like meager coping with the fact that transaction rates in a distributed system necessarily must suck compared to what Visa, et. al. are doing with IBM mainframes and racks of x86 hardware contained in the same datacenter (i.e. 1~2ms latency dom…
If you actually believe what you're saying, then short it[1]. If you really think that the practical value is non-existent, then put your money where your mouth is, and take out a short.
This isn't some academic theory where the best you can do is throw tomatoes at it, and ridicule it from a distance. This is an economic theory, where if you are correct, and everyone else is wrong, you can profit significantly from it.
Maybe once you're faced with actually taking a stand on a belief like this, you'll come to understand why cryptocurrencies are beginning to dominate the global economy. It's also totally possible that you're right, but I think it's far more likely that you just like to ridicule things you don't understand because you get some sense of power from shitting on people who you consider to be beneath you.
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#464(1) Many gamers are miners in their spare time! (2) Big Mining operations actually write their own drivers (3) Huge Mining operations even use custom boards (4) I heard that that Nvidia has been selling silicon directly to the big boys ( https://wccftech.com/nvidia-allegedly-sold-175-million-worth... ) (5) With this action I expect its only the little guys getting removed from the game here (1) a huge benefit for the…
> (2) Big Mining operations actually write their own drivers Strong claims require strong evidence.
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#465I do hate miners But I'm concerned that a company can tell you what you can or can't do with your hardware. Where is the spirit behind the hacker community, Jailbreaking iPhones, the right to repair, the ban of tattoos that prevented the use of Linux on PCs,... That's a very concerning move from me. Also, for a company that does morale : (1) Nvidia's marketing is one of the best for making old products look obsolete…
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#466Earlier quoted context omitted.
Never. They've been "moving to proof of stake" for something like three years. The miners are making money off of them not moving to proof of stake. The miners stop making money when they move to proof of stake. The only people who can actually allow the chain to move to proof of stake are the miners. Meanwhile, xtz and ada have been proof of stake since their inception, 3+ years already for both.
There is nothing the miners can do to stop the migration, any more than they can stop you from making your own fork of Ethereum and convincing your friends to run it. The miners can keep running the legacy version, and try to convince users and exchanges to stick with it. Given the massive community support for PoS, they're not likely to be very successful.
They claim they are going to fork ETH to make a POS fork of it. Now the people claiming this are going to want you to believe that’s the “real” eth- but the miners may not agree. They have no incentive to do so.
And yes, they can absolutely keep running the real chain and let the chips fall where they may. Given that course of action benefits them, and the other benefits Vitalik and his whale friends...
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#467Earlier quoted context omitted.
Does all mining apply here? I saw some videos where people were setting up solar panels and minig using that power. If you have a system of solar panels + mining cards, is there more harm compared to no such system (not taking producing solar panels and cards into account).
You have to look at the planet as a set of resources. Resources grow and shrink, but are definite and limited in any given moment all the same. Generally, spending them on less productive tasks is bad. It's cool they are using solar power vs burning gas/coal, but it doesn't change the fact that those same resources would benefit the planet much more if used in a different capacity. If a billionaire hoarded manufactur…
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#468Earlier quoted context omitted.
Their application detection is based on executable name. Fairly popular game I worked on was misdetected because apparently we used executable name of some decade old FPS. They fixed it in NVidia Control Panel, but Shadowplay continues to put gameplay recordings in wrong folder to this day.
Huh wow, I would have guessed that it was based on some more complicated heuristics. Well then I guess my previous comment is moot.
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#469Earlier quoted context omitted.
You have to look at the planet as a set of resources. Resources grow and shrink, but are definite and limited in any given moment all the same. Generally, spending them on less productive tasks is bad. It's cool they are using solar power vs burning gas/coal, but it doesn't change the fact that those same resources would benefit the planet much more if used in a different capacity. If a billionaire hoarded manufactur…
Each hour 430 quintillion Joules (430 exajoules) of energy from the sun hits the Earth.[1] It is almost exclusively reflected back out into space, and wasted. We have nearly no incentive to capture it, so the energy is being wasted at a mind boggling scale. I've been mining cryptocurrencies with solar power for about 6 years or so. The great thing about crypto mining is that it creates a price floor for energy usage.…
Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half
#470What will happen when Bitcoin and other cryptos have awarded the max number of tokens and there's no more incentive for miners? Who will keep the system running?