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So Sick of the GPU situation

Permabanned
Joined
22 Oct 2018
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Years and years with little break now we have seen miners systematically destroy the gamers GPU market. I don't blame the miners, but it really does make me question the sanity of the idiots who invented cryptocurrencies. They clearly didn't stop to think of the consequences of what they are doing. I mean not only has it completely wrecked the GPU market for gamers, but mining cryptocurrencies now consumes more electricity than the whole of Argentina. What a disgraceful waste of electricity.
With NVIDIA now releasing obsolete GPU's to make up the shortfalls for the PC builders, it really makes you wonder where this is all going. It seems that gamers are rapidly becoming second class citizens and the real market drivers here are the miners. And there is no sign of any reprieve for the gamers. All we get is escalating prices and obsolete gear. I'm so sick of it.

Rant over.
 
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2 Feb 2021
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Everything will reach equilibrium, give it a few months, as more miners join in the crypto rush, it will become less profitable, thus a lot will then exit the market.

The irony here is Tesla always on the environmental angle, with their recent investment of crypto coins, they probably did more harm to the environment than a few car companies combined.
 
Soldato
Joined
5 Sep 2010
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3,753
I don't blame the miners
Understandable to a certain degree and then greed takes over and as has been reported the consumption and use of electricity causes major issues in the short and long term.

idiots who invented cryptocurrencies.
I would not call them idiots but a very selfish way to make money. I have been reading the reports on Guru3D website about a lot of this. As usual the government will do nothing about it too. Time for a change?.
 
Associate
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6 Nov 2018
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Wouldn't stress it, OP. Apparently we've got months of this to come before things get even remotely back to normal. Acceptance.

And yeah, hopefully the internet will stop treat Elon Musk like some tech Jesus. I mean, they needed someone new after Bill Gates left Microsoft, and the Minecraft guy went insane. But he is worshipped in some corners of the internet and it's very strange.
 
Soldato
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The TARDIS, Wakefield, UK
Miners and "creators of Crypto" dont care about gamers or the GPU market as long as they can hoover up the GPUs and make money.
I would suggest OP gets Greta Thunberg onto them about the electricty usage.
 
Associate
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25 Apr 2012
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Give it a rest!! No GPU for sale boo hoo!! Ebay charges too much boo hoo! Go play games with what you have!!

These spam threads should be locked instantly!
 
Soldato
Joined
29 May 2005
Posts
4,292
I personally hope the crypto market will crash and burn as it is just like the tulip craze.

however if you can’t beat them, join them. So I am now mining on my humble 2070s and it is pretty decent in terms of return. Certainly pays off my energy for the house if I only mine while I do work on my PC and I work 9-18 daily plus some hobby stuff in the evening.

so in that sense, I can’t see the crypto world relenting anything soon.

but it is not really the crypto fault for the complete lack of GPU or CPU or anything to that effect. We got hit by covid early on and that meant a lot of production (out of south east Asia) were hit really hard and the global supply chain hasn’t had a chance to recover before the whole demand shot through the roof with new GPU, CPU, console and crypto going max as well.

I think if you take crypto out of the current market, you still have scalping prices on GPU because they can’t make them faster enough to sell to everyone who wants one.

If you had no new consoles then maybe I think we will be seeing a bit of normalisation by now which is usually the case in the previous year releases.


anyway it’s been a perfect storm basically.
 
Soldato
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Buy a ps5 or series X which while not in abundance are easier to get than Gpus and atleast go for MSRP then play some games and sit this cycle out.
 
Associate
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Cambridge
Good thing regarding the 3090 is the overheating memory at the back of the card. During game, may or may not throttle. Mining, certainly will.
Let's not forget that GPU/CPU aren't the only products almost unavailable.
PS5 and XBOX still not readily available.
Sadly the combination of rising demand (more people at home willing to invest on their main entertainment ATM, or the need of a better PC for work), declining stock levels (and other complications due to COVID) and cryptocurrencies being financially attractive again.
 
Caporegime
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20 May 2007
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Surrey
but mining cryptocurrencies now consumes more electricity than the whole of Argentina. What a disgraceful waste of electricity.

Making money in our economy uses resources. Have you looked into how much power the world's financial/stock markets consume?

It is creating something that has value to people (for some reason). Its just as much of a waste of electricity as anything else that is created that people hold as valuable.

I think its absurd too, but our whole society and economy is completely ridiculous and i'm of the mind that if you cant beat them, join them.
 
Associate
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Making money in our economy uses resources. Have you looked into how much power the world's financial/stock markets consume?

It is creating something that has value to people (for some reason). Its just as much of a waste of electricity as anything else that is created that people hold as valuable.

I think its absurd too, but our whole society and economy is completely ridiculous and i'm of the mind that if you cant beat them, join them.
But the financial market point is not to make money but to allocate money between investors and companies.

The question is why would people buy a Bitcoin for that much money? It’s not underpinned by anything that the belief that someone is willing to buy it back from you.

Why should we burn energy to find hashes to resell to others? I guess as long as someone is willing to pay for it, you can ignore the why ...
 
Associate
Joined
13 Mar 2012
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Everything will reach equilibrium, give it a few months, as more miners join in the crypto rush, it will become less profitable, thus a lot will then exit the market.

The irony here is Tesla always on the environmental angle, with their recent investment of crypto coins, they probably did more harm to the environment than a few car companies combined.

Verifying blockchain transactions will always need to be done as long as the currency exists, so it will always need to be profitable or the whole system collapses. Presumably, it'll reach a point where they need to charge silly transaction fees and Bitcoin will die.
 
Caporegime
Joined
20 May 2007
Posts
36,650
Location
Surrey
But the financial market point is not to make money but to allocate money between investors and companies.

The question is why would people buy a Bitcoin for that much money? It’s not underpinned by anything that the belief that someone is willing to buy it back from you.

Why should we burn energy to find hashes to resell to others? I guess as long as someone is willing to pay for it, you can ignore the why ...

Why was so much energy and time put into mining gold, silver etc? Because it was shiny and rare?

My point is that we burn resources and energy on all manner of intrinsically pointless endevours and worthless products.
 
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