So Sick of the GPU situation

[Relentless81]

Just bin it all off and sell what you have like I'm doing, you'll feel better for it

27 years of pc gaming has come to a head, it's a complete **** show and not worth the time, money or effort

 

[Kanpai]

Here you go:

https://nvidia.custhelp.com/app/chat/chat_launch/

https://www.amd.com/en/support/contact-email-form

 

[BlueInf]

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.

In case you have not noticed, financial markets are not mining gold, silver, so you just made two distinct points.

It’s exactly my point that it is pointless and only held by the value that someone else is willing to pay.

PS: I also mine because it’s free money as long as someone is willing to buy from me.

 

[Cyber-Mav]

I so regret not getting a pascal card when they first came out

 

[Cyber-Mav]

In case you have not noticed, financial markets are not mining gold, silver, so you just made a different point.

Yes people used to spend so much resources mining gold and we kind of went past that. It’s exactly my point that it is pointless and only held by the value that someone else is willing to pay.

The difference is that gold is acknowledged to be a long term medium of value. Silver is a bad example: look at the 100 years chart and see the spikes, caused by cornering the markets.

PS: I also mine because it’s free money as long as someone is willing to buy from me.

Atleast if you mine gold or silver you have something physical at the end of the day.
I dont understand why value is placed on a crypto coin. What has been mined? What work has been done to achieve it?
I get they are doing computations but where does that compute power go? Its not like its searching for prime numbers or some other goal its just to me its worthless.

If that processing time was used to compress files or encode videos then i can see a end result but with mining??

 

[BlueInf]

Atleast if you mine gold or silver you have something physical at the end of the day.
I dont understand why value is placed on a crypto coin. What has been mined? What work has been done to achieve it?
I get they are doing computations but where does that compute power go? Its not like its searching for prime numbers or some other goal its just to me its worthless.

If that processing time was used to compress files or encode videos then i can see a end result but with mining??

People are paying £5 a day to let miners run a 3060ti, and £8 a day for a 3080 to run. It’s a silly situation ...

The computation just goes to waste so that the coin nodes reward you ... literally ...

 

[69Dude]

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!

Qu'ils mangent de la brioche

 

[JasonM]

The crazy thing, Nvidia and AMD share price (I own both) at record high, how will these companies perform when they can supply demand again.

 

[HangTime]

It seems that gamers are rapidly becoming second class citizens and the real market drivers here are the miners

I don't think the manufacturers or vendors care who they sell to - gamers are not second class citizens, it just comes down to who can put up the cash whether they be miners or gamers.

 

[danlightbulb]

I get they are doing computations but where does that compute power go? Its not like its searching for prime numbers or some other goal its just to me its worthless.

If that processing time was used to compress files or encode videos then i can see a end result but with mining??

My basic understanding of it, is that I think the computing power essentially is used to secure the network. The hashing that goes on I think is essentially the way in which all nodes validate that the block of transactions is valid and not a fake.

However I think it can be done other ways too which is why Ethereum is moving to proof of stake eventually.

It’s exactly my point that it is pointless and only held by the value that someone else is willing to pay.

Isnt this true of all money? As soon as that fiver in your pocket stops being trusted by others then that is worthless too.


Im not sure how I feel about crypto. I have been researching it for a couple months now and it does have its benefits. Im mining too because I'd be daft not to right now.

 

[JasonM]

When the money printing stops this is when bit-coin price will drop.

However it's at least another 6 months before above happens, and bit-coin could double again before then.

 

[BlueInf]

The crazy thing, Nvidia and AMD share price (I own both) at record high, how will these companies perform when they can supply demand again.

The share price is function of expectations. It is already priced in that they will produce more card. However the increased demand may not have been fully priced in.

AMD share price is (rightly or wrongly) not expected to continue to increase at the same rate now by most analysts.

 

[BlueInf]

My basic understanding of it, is that I think the computing power essentially is used to secure the network. The hashing that goes on I think is essentially the way in which all nodes validate that the block of transactions is valid and not a fake.

However I think it can be done other ways too which is why Ethereum is moving to proof of stake eventually.




Isnt this true of all money? As soon as that fiver in your pocket stops being trusted by others then that is worthless too.


Im not sure how I feel about crypto. I have been researching it for a couple months now and it does have its benefits. Im mining too because I'd be daft not to right now.

The difference is that a note has the backing of a central bank which has for mandate to have some stability.

But it is true that only a few select currencies are relatively stable. I.e. if you compare this to note from Zimbabwe then maybe Bitcoin is more stable.

I am the same, I am mining to recoup some of my GPU cost but I don’t think most of the who got into mining recently realise that the return is function of the difficulty. So unless the price keeps increasing at the same rate than difficulty they will not make back the GPU cost in 3 months.

The other thing is that while GPU demand is far greater than supply this last point is a bit moot because you can resell your card at the same price than you bought or more, meaning that you will make money by holding the card and reselling it after a few months.

This is why some people are buying all the cards they can ... they just hope to mine for a few months and resell their cards.

 

[Jono8]

In case you have not noticed, financial markets are not mining gold, silver, so you just made two distinct points.

It’s exactly my point that it is pointless and only held by the value that someone else is willing to pay.

PS: I also mine because it’s free money as long as someone is willing to buy from me.

Well yes it is pointless and only has the value that those ascribe to it, but that could be said about any number of things that we waste tons of resources on.

Essentially, i just dont see the issue, unless people are fair and start worrying about the environmental impact of virtually every other pointless/unnecessary thing we do.

 

[BlueInf]

Well yes it is pointless and only has the value that those ascribe to it, but that could be said about any number of things that we waste tons of resources on.

Essentially, i just dont see the issue, unless people are fair and start worrying about the environmental impact of virtually every other pointless/unnecessary thing we do.

Maybe you don’t know but crypto is using as much energy as whole countries.

So I am not saying that you are wrong because people will have hobbies and therefore it is impossible to live without energy so it a number to quantify to be able to answer questions.

But maybe you ought to research the topics to have an informed opinion (for example the role of financial markets in the economy)

 

[Jono8]

Maybe you don’t know but crypto is using as much energy as whole countries.

So I am not saying that you are wrong because people will have hobbies and therefore it is impossible to live without energy so it a number to quantify to be able to answer questions.

But maybe you ought to research the question to have an informed opinion.

I'm well aware of what it uses, but then there are loads of other human endevours/interests that use loads of electricity as well that is not necessary -

https://www.mic.com/p/gamings-environmental-impact-is-bigger-than-you-think-21753800

"Gaming accounts for nearly 2.5 percent of all residential electricity consumed in the country"

Is gaming necessary? Why is that allowed to have such a big impact on energy consumption? Do the same people having a go at Bitcoin, care about that? Probably not.

Are Christmas lights necessary?

https://phys.org/news/2015-12-christmas-energy-entire-countries.html

Just the USA's use of Xmas lights use more power than whole countries but do the same people care? Christmas lights are inherently pointless and only have "value" because we think they look pretty.



Again, i am not saying Bitcoin's energy consumption is right, but some perspective is needed and those that single it out, should be worried about the amount of other "pointless" things that cost massive amounts of electricity too.

 

[BlueInf]

I'm well aware of what it uses, but then there are loads of other stuff that uses electricity as well that is not necessary -

https://www.mic.com/p/gamings-environmental-impact-is-bigger-than-you-think-21753800

"Gaming accounts for nearly 2.5 percent of all residential electricity consumed in the country"

Is gaming necessary? Why is that allowed to have such a big impact on energy consumption? Do the same people having a go at Bitcoin, care about that? Probably not.

Yes this is a valid point but I am pretty sure the number of gamers vastly outpace the number of miners by orders of magnitudes and that gamers actually sleep

What’s silly in mining is that you literally get rewarded for spending energy. Energy that is probably not charged at the right cost to the environmental damage. So that someone can buy your reward for hashes, you are probably just arbitraging the cost to the environment: some mining group even when to countries where the energy is cheap.

Gaming gives the person satisfaction that is not made out of speculation, so it has actually in my opinion a better purpose. Is it wasteful? Probably yes. Is it too wasteful compared to other hobbies? I don’t have the figures.

Anyway, I’ll leave it to this. You seem to have a pretty strong opinion that nothing will flinch. A bit like you thought that the primary role of financial markets was to make money, you seem to just justify before to think through.

 

[Jono8]

Yes this is a valid point but I am pretty sure the number of gamers vastly outpace the number of miners by orders of magnitudes and that gamers actually sleep

What’s silly in mining is that you literally get rewarded for spending energy. Energy that is probably not charged at the right cost to the environmental damage. So that someone can buy your reward for hashes, you are probably just arbitraging the cost to the environment: some mining group even when to countries where the energy is cheap.

Gaming gives the person satisfaction that is not made out of speculation, so it has actually in my opinion a better purpose. Is it wasteful? Probably yes. Is it too wasteful compared to other hobbies? I don’t have the figures.

Anyway, I’ll leave it to this. You seem to have a pretty strong opinion that nothing will flinch. A bit like you thought that the primary role of financial markets was to make money, you seem to just justify before to think through.

I didn't think the financial markets "make money". Perhaps i should have worded it better, in that people can make money from it (not that it literally makes money).

It is still all the same game. In the financial market, most companies are still using energy to do something that people think has value, and then shares of that company will get sold at ever increasing value if it is deemed to be successful. Its all the same game - person A uses resources to make something that person B sees as valuable.

It also isn't a "strong opinion". It is just the reality of it. I don't have a problem with people thinking that crypto is a waste of resources (it is), but then to me it is no worse than the myriad of other pointless and unnecessary stuff humans waste insane amounts of resources on.

 

[McPhee]

There's an interesting snippet in the BBC article regarding the Cambridge Bitcoin power study:

However, it also suggests the amount of electricity consumed every year by always-on but inactive home devices in the US alone could power the entire Bitcoin network for a year.

If we're talking about wasted electricity, how about the global impact of everyone leaving their TVs, monitors, etc. on stand-by because they can't be bothered to press the power button?

It's also worth bearing in mind what this study actually says. They've estimated the live power consumption of Bitcoin mining (Bitcoin only), within very wide bands (currently 5.28GW to 58.02GW, with an estimate of 16.87GW). They then take a 7-day rolling average of their estimate, and use that to calculate annual figure.

If their estimate is correct, and power consumption stays at those levels for a whole year, then annual electricity consumption for Bitcoin mining might be higher than the annual electricity consumption of Argentina (in 2016). But consumption isn't stable; it's gone up roughly 2x in two months.

Either way, mining clearly uses a colossal amount of power. But I doubt there are many in the developed world who can get on their high horse about it without being somewhat hypocritical. We all waste a colossal amount of power daily.

 

[BlueInf]

There's an interesting snippet in the BBC article regarding the Cambridge Bitcoin power study:


If we're talking about wasted electricity, how about the global impact of everyone leaving their TVs, monitors, etc. on stand-by because they can't be bothered to press the power button?

It's also worth bearing in mind what this study actually says. They've estimated the live power consumption of Bitcoin mining (Bitcoin only), within very wide bands (currently 5.28GW to 58.02GW, with an estimate of 16.87GW). They then take a 7-day rolling average of their estimate, and use that to calculate annual figure.

If their estimate is correct, and power consumption stays at those levels for a whole year, then annual electricity consumption for Bitcoin mining might be higher than the annual electricity consumption of Argentina (in 2016).

Either way, mining clearly uses a colossal amount of power. But I doubt there are many in the developed world who can get on their high horse about it without being somewhat hypocritical. We all waste a colossal amount of power daily.

I am all for improving devices to not draw electricity when hibernating if it outweighs the cost.

I am probably not a hermit either but I switch off devices when not using them, I reckon I have some expensive hobbies though resources wise.