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Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

blogs.nvidia.com

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Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#521

Post by dboreham »

j3th9n wrote: post #335
bob1029 wrote: post #114

Earlier quoted context omitted.

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…

Try handling millions of automated machine to machine micro transactions per second on the Visa network. The Lightning Network on top of Bitcoin can handle this today.

Lightning network is interesting, but what you say really isn't true in any practical sense.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#522

Post by mywittyname »

p1necone wrote: post #509
mywittyname wrote: post #504

Earlier quoted context omitted.

> sell the 8 core for $300 and the 6 core for $250, and still make a profit/break even on both of them then you could be selling the 8 core for $250 and your competition should be It doesn't work that way. The $300 premium chips are where all of the margin is, and is what finances the whole operation. If they production costs of in your hypothetical chips is $235, then Intel would be making $15 on the cheap chips, bu…

If your production cost is $235, then you need to make $235 to finance your operation. Anything more is inefficiency that competitors in a healthy market would eat away at.

Then there must not exist any markets that meet your definition of healthy, because basically every mature market works like I described. It's the most efficient strategy for minimizing costs and maximizing profits.

A fundamental principal of business is that a successful one needs to earn a profit. And that profit needs to be high enough to continue operation.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#523

Post by qqii »

bob1029 wrote: post #189
deweller wrote: post #166

Earlier quoted context omitted.

The long term road map for Ethereum 2 is 100k transactions per second. This is a theoretical maximum and it will likely take years to get there. This defies your assertion that scaling cannot ever be achieved with current crypto approaches.

100k transactions per section w/ serializability and all of the other things required to satisfy real-world concerns like fraud and regulatory constraints?

> regulatory

https://register.fca.org.uk/s/firm?id=0010X00004U9vVAQAZ

> fraud

https://trustswap.org/

Just to name two examples. Cryptocurrency like cash won't stop you from falling to fraud or illegal activity but communities and regulations could enforce a safe subset of projects with stronger guarentees than the current system.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#524

Post by lifeplusplus »

mullingitover wrote: post #340
lifeplusplus wrote: post #337

Earlier quoted context omitted.

no because they can more money annually selling cards than mining, beside investors don't put in money in nvidia because it engages in crypto but because it's a video card company.

Saying they can make more money selling the cards doesn't make sense if the cards are actually profitable to use as mining equipment. Plus, investors don't care if nvidia is a video card company or they sell toilet paper, they care about their performance as an investment. If nvidia could pivot and double your investment, would you really care what they were pivoting to?

it does make sense, i'd rather take 30% return on my $100k than 5% return. If mining nets them 5% then it's an inferior option.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#525

Post by p1necone »

mywittyname wrote: post #522
p1necone wrote: post #509

Earlier quoted context omitted.

If your production cost is $235, then you need to make $235 to finance your operation. Anything more is inefficiency that competitors in a healthy market would eat away at.

Then there must not exist any markets that meet your definition of healthy, because basically every mature market works like I described. It's the most efficient strategy for minimizing costs and maximizing profits. A fundamental principal of business is that a successful one needs to earn a profit. And that profit needs to be high enough to continue operation.

Indeed there are no theoretically perfect free markets. I'm just arguing that Intel is getting away with a lot more than they would if they had competition more like other businesses; as opposed to the current situation where they only have to compete against AMD, and own enough patents between the two of them that it's basically impossible for new competitors to enter the market.

No business needs to earn a profit. By definition profit is surplus to operating costs (and I include a reasonable emergency fund in the category of "operating costs").

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#526

Post by etimberg »

IshKebab wrote: post #300
jki275 wrote: post #259

Earlier quoted context omitted.

I think that the bitcoin mining companies that run in China have a pretty good handle on how to get very low cost electricity, and hydro doesn't produce the CO2 emissions you're so concerned about. So what's your point?

His point is that crypto mining isn't using some carbon neutral electricity that was just lying around unused. If crypto minors didn't exist that hydro electricity would have been used for something useful. So by mining crypto unless you actually build extra hydro power stations for them you are 100% adding to CO2 emissions.

Hydro dams actually incur significant greenhouse gas emissions especially during the initial fill where all the material that's now submerged rots and produces methane.

https://www.theguardian.com/sustainable-business/2016/nov/06...

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#527

Post by lifeplusplus »

mullingitover wrote: post #340
lifeplusplus wrote: post #337

Earlier quoted context omitted.

no because they can more money annually selling cards than mining, beside investors don't put in money in nvidia because it engages in crypto but because it's a video card company.

Saying they can make more money selling the cards doesn't make sense if the cards are actually profitable to use as mining equipment. Plus, investors don't care if nvidia is a video card company or they sell toilet paper, they care about their performance as an investment. If nvidia could pivot and double your investment, would you really care what they were pivoting to?

and yes investor care a lot about how the company makes money, if i'm buying nvidia i've certain risk/profit profile in mind. And if that said company suddenly decides to invest all of its assets on riskier industry than that means i'm in more risk, more risk than what was my investment plan. Depending on my age and total amount of wealth my risk tolerance would be very different.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#528

Post by lupire »

XorNot wrote: post #519
kyrieeschaton wrote: post #513

Earlier quoted context omitted.

Did you know that vanilla financial securities also require upkeep? Approximately 0.5% of the value of all financial assets is burned every year (and potentially an order of magnitude more, depending on what asset and packaging you're talking about).

That's a heck of a figure you're not providing a reference or explanation for at all. Or even an explanation of what you mean by financial securities and "burned".

It's the fee you pay to your investment manager.

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#529

Post by [deleted] »

Teknoman117 wrote: post #458
jsheard wrote: post #279

Earlier quoted context omitted.

Someone with early access to 3060 hardware, but not access to the launch drivers managed to wrangle it into working on pre-3060 drivers and still found that mining performance was artificially reduced. It starts high then falls off after a minute or so when some heuristic decides that mining is happening. https://videocardz.com/newz/zotac-geforce-rtx-3060-early-gpu... There's speculation that the limiter might actual…

I'm really curious about how they got the card working without the specific drivers for it. I'm also curious if this "mining detection" is going to kick in "accidentally" on other compute loads. It would be really crappy if the CUDA performance of these cards is bad because they don't want miners using them.

[deleted]

Re: Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half

#530

Post by qqii »

FridgeSeal wrote: post #283
bob1029 wrote: post #189

Earlier quoted context omitted.

100k transactions per section w/ serializability and all of the other things required to satisfy real-world concerns like fraud and regulatory constraints?

Bold of you to assume that the crypto-crowd have seriously taken fraud and and consumer protections into account. Crypto-currencies are a poor technical “solution” to a socio-economic problem, and while this remains the case associated problems (regulatory constraints, etc) will continue to be things that are relegated to the “don’t care/won’t fix/too hard” basket at worst, and stapled on as an afterthought at best.…

Except projects like TrustSwap exist.

The Internet doesn't have built in mechanisms for regulation or fraud and nor should it. Cryptocurrencies obviously don't solve the problem, but can be used to create a stricter set of guarentees than the current sustem.

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