Official Mining Thread

[Leprechaun]

^ mining is wasting more electricity than all of Argentina combined. 90% of the electrical use is pure garbage. The only semi-useful electricity use is while handling transactions. (I made up the 90/10, not sure exact percentages).

Profitability at the moment is obscene.

[curio]

There's plenty wrong with it.

Yeah like the fact that I didn't get in on it earlier

[curio]

It's not even about all that. Mining is an extreme waste of electricity. Folding, at least, was a use of electricity that was generating useful information and data to help research. Mining is literally just burning resources for human greed. It's ****ing disgusting. The whole supply shortage is the least of the concern when it comes to this garbage.

lol I could make that same claim about anything else humanity does for medium exchanges really. The amount of electricity used to make trillions and trillions of dollars of daily fiat & equity exchanges surpasses mining; as everything from VISA to to the NYSE to the Federal Reserve processes transactions electronically. Extracting gold and rare metals from the planet is literally destroying the Amazon and also causes slavery. Entire regions of the globe have been fraught with war and countless lives ruined in the name of pegging the dollar to oil.

Any store of value and/or medium of exchange today is literally just burning resources for human greed. It's ****ing disgusting. But unless you're a hermit living off the grid, you're going to be a part of all that one way or another. All bitcoin does is change the way of doing it, but it's no more unethical then the system we've been using for over 100 years now.

[Leprechaun]

^true. Just living we're a waste. When we game we waste electricity. As you said I'm mostly angry I didn't join the $$train earlier. The future is here. It will be awesome.....until governments worldwide step in and ruin it all

[SuperGeil]

Limit mining to Quadro/Fire Pro. Problem solved.

[SIrPauly]

I'm kinda torn on this one because you're artificially limiting an ability that a consumer may desire, when they're not gaming.

See Nvidia's point, because GeForce is for gaming but the mining market may be tough and erratic to gauge. In late 2018 through mid 2019, Nvidia misread the market and there were huge Pascal inventories.

Can Nvidia meet demand for gamers and miners going this route?

[curio]

IMO there needs to be something done about it so that my boy Nunzy can get a modern gaming card at a normal price

[bill dennison]

I'm kinda torn on this one because you're artificially limiting an ability that a consumer may desire, when they're not gaming.

See Nvidia's point, because GeForce is for gaming but the mining market may be tough and erratic to gauge. In late 2018 through mid 2019, Nvidia misread the market and there were huge Pascal inventories.

Can Nvidia meet demand for gamers and miners going this route?

this will kill NV's market share as soon as AMD has supply of the 6000's and all NV cards are going to miners


just like it did to AMD in their old 5870 & 6870 when NV cards were not as good at mining in the first bitcoin bubble


the 6800 xt has the same the hash rate as a 5700 and half that of the 3080
but the 6800 xt uses about the same power as a 3080 mining
it will be great for AMD

[Leprechaun]

Sorry Nuns, nobody won out of this. Nobody got a card at MSRP, although ragers proved me wrong all 3000 series cards sold are MSRP and are widely available.

Didn't help Nvidia sold the first humongous batch straight to miners.

[Nascar24]

Sorry Nuns, nobody won out of this. Nobody got a card at MSRP, although ragers proved me wrong all 3000 series cards sold are MSRP and are widely available.

Didn't help Nvidia sold the first humongous batch straight to miners.

Bought 3 3080's at MSRP.

And that story is a bunch of bullocks!

[Nunz]

There's still zero proof that NV sold cards meant for retail directly to miners. I love how one click-bait article started all of this The sources that have been used to prove such a thing can't be found. Ironically, the original note that NV sold $25m more cards than expected is also gone. Strange, huh..

I have my 3080 that I bought at MSRP before the tax hikes. I feel for all the people trying to buy hardware for their kids and even for themselves while people suck up multiple cards just to make a quick buck. It's a sad world.

[SIrPauly]

this will kill NV's market share as soon as AMD has supply of the 6000's and all NV cards are going to miners


just like it did to AMD in their old 5870 & 6870 when NV cards were not as good at mining in the first bitcoin bubble


the 6800 xt has the same the hash rate as a 5700 and half that of the 3080
but the 6800 xt uses about the same power as a 3080 mining
it will be great for AMD

I don't know, gauging the miner market based on how erratic and volatile it is may be a daunting task. Gauging the market through Covid-19 may be a daunting task, too. Unusual and unprecedented demand and personally never seen anything like this.

[bill dennison]

There's still zero proof that NV sold cards meant for retail directly to miners. I love how one click-bait article started all of this The sources that have been used to prove such a thing can't be found. Ironically, the original note that NV sold $25m more cards than expected is also gone. Strange, huh..

I have my 3080 that I bought at MSRP before the tax hikes. I feel for all the people trying to buy hardware for their kids and even for themselves while people suck up multiple cards just to make a quick buck. It's a sad world.

no but AIB's are

you don't get 78 of the same brand and model in this market any other way

[LordHawkwind]

Ain't nothing wrong with mining. If a gay can afford it, he can mine.
Supply needs to be fixed.

Wow twice in two days I've agreed with you. Whilst some of us might find it ethically dubious or morally reprehensible it's not illegal so people have the right to do it if they want.

It's not even about all that. Mining is an extreme waste of electricity. Folding, at least, was a use of electricity that was generating useful information and data to help research. Mining is literally just burning resources for human greed. It's ****ing disgusting. The whole supply shortage is the least of the concern when it comes to this garbage.

I don't think we'll see prices go back to 2xxx series because AMD actually has a somewhat competitive product out. I wouldn't pay $800 more than the competition just for DLSS and RTX. I like expensive toys but that's just a waste of money.

Regardless .. for all the **** you've thrown at NV, they're the only one that's done anything to try and negate this crap. Judging by the power consumption on these mining cards, they must be crappy chips requiring high voltage to overcome poor silicon. I don't think these chips would have been usable for our cards.

I'm not sure they can fix the cards that have already been released; cat out of the bag sort of thing. You can't force anyone to update the BIOS unless you locked the driver, and then you can't force the miners to update the driver as these mining programs will make sure they're compatible with older drivers.

We can all take the L for now, but hopefully NV is correcting the future 3070/80/90 cards off the line and implementing the same locks they put on the 3060. Either way, this is a huge step to un****ing this entire mess of greed.

With regards to the current 3070/80/90 cards Nvidia has said there is nothing they can do. They're also in a strange position with future 3070/80/90 sales as they would have to specifically say if the card was gimped for mining as it's not an illegal activity and imagine the deluge of law suits they'd face if they didn't somehow make it clear on the labeling that this card is NOT for mining.

Nvidia have said they can build and sell mining cards without optical outputs quite easily and maybe even cheaper but of course the second hand value would be small as they would only be useful for mining so industrial miners would buy them but individuals probably wouldn't.

Regarding electricity usage here's an interesting article. Who'd have thought Iran would have an issue with crypto mining

https://www.independent.co.uk/news/world/iran-bitcoin-electricity-power-b1791322.html

[Nunz]

no but AIB's are

you don't get 78 of the same brand and model in this market any other way

Yeah you do. You hire a botting company to buy you those specific cards. It's rather simple actually. Miners are the perfect candidate for it as they roll the cost for the company into their ROI..

[LordHawkwind]

no but AIB's are

you don't get 78 of the same brand and model in this market any other way

Gosh I've agreed with KAC twice in two days and now I'm agreeing with you

Here's the link I think you might be referring to.

https://www.techspot.com/news/88667-zotac-enrages-gamers-tweet-celebrating-crypto-mining.html

A bit insensitive to say the least especially as they even used gaming # in the tweet. I think whoever thought that was a good idea for a tweet is either out of a job or on a very big warning.

[bill dennison]

Gosh I've agreed with KAC twice in two days and now I'm agreeing with you

Here's the link I think you might be referring to.

https://www.techspot.com/news/88667-zotac-enrages-gamers-tweet-celebrating-crypto-mining.html

A bit insensitive to say the least especially as they even used gaming # in the tweet. I think whoever thought that was a good idea for a tweet is either out of a job or on a very big warning.

and

https://www.tweaktown.com/news/77074/that-78-geforce-rtx-3080-mining-rig-has-rgb-now-makes-900-per-day/index.html

[bill dennison]

Yeah you do. You hire a botting company to buy you those specific cards. It's rather simple actually. Miners are the perfect candidate for it as they roll the cost for the company into their ROI..

no ****ing miner would care one bit that they are all the same brand and model
style points don't make them mine better

they would set up a bot to buy any 3080 in this price range


there is a lot of style in this fire waiting to happen

[Leprechaun]

You forgot about that guys portable mining farm.

https://www.google.com/amp/s/www.coindesk.com/us-man-installs-crypto-mining-rig-in-hybrid-bmw-sportscar%3famp=1

[bill dennison]

You forgot about that guys portable mining farm.
https://www.google.com/amp/s/www.coi...rtscar%3famp=1

yea that one is a joke

the trunk needs to stay open to avoid overheating.

[Nunz]

no ****ing miner would care one bit that they are all the same brand and model
style points don't make them mine better

they would set up a bot to buy any 3080 in this price range


there is a lot of style in this fire waiting to happen

Ever thought that maybe he needs exact same cards to fit his frame? Because if he had different sized coolers, he wouldn't be able to jam as many cards in there. There's a functional reason to have matching cards in that case..

Who knows though. Maybe PNY is the devil; but that's hardly NVs fault.

[Leprechaun]

Despite Nvidia's Anti-Mining Lock, RTX 3060 Can Still Earn Up To $7 a Day Mining

https://www.tomshardware.com/amp/news/rtx-3060-still-profitable-mining

[Leprechaun]

Linus' take

[yt]XfIibTBaoMM[/yt]

[SirBaron]

Sorry Nuns, nobody won out of this. Nobody got a card at MSRP, although ragers proved me wrong all 3000 series cards sold are MSRP and are widely available.

Didn't help Nvidia sold the first humongous batch straight to miners.

Well besides your silly exageration, I got 2 cards at MSRP... so yeah.

[Leprechaun]

Well besides your silly exageration, I got 2 cards at MSRP... so yeah.

Only 2? Theres millions out there on shelves. All MSRP

That would be like me telling the people who can't find a card they are wrong, I found plenty

[Riptide]

Bought 3 3080's at MSRP.

Bought a 3090 FE at MSRP. And a gigabyte 6800 XT at MSRP. The two 6900 XT I got were AIB and marked up, but not by a lot.

IMO there needs to be something done about it so that my boy Nunzy can get a modern gaming card at a normal price

I think he said he already had one? He seems quite bent atm.

^true. Just living we're a waste. When we game we waste electricity.

If someone enjoys the hobby of mining the electricity they pay for is no more of a waste than someone who enjoys playing cyberpunk. Or any other form of non-essential electrical use that garners joy. What we're seeing right now is history repeating itself with a lot of frustrated consumers and sour grapes.

I feel for all the people trying to buy hardware for their kids and even for themselves while people suck up multiple cards just to make a quick buck. It's a sad world.

The best resolution long-term is enough supply to meet demand. That of course is a bigger nut to crack.

There's a functional reason to have matching cards in that case..

It's nice to have multiple cards of the same make and model for multiple reasons. Default clocks, cooling, etc. are all the same. When you're working on the most efficient settings to reduce power and heat consumption it's handy to have all of them the exact same part number.

As a hobby miner, I'd like to start up a small 5-6gpu rig again. Not with the newest parts which are the most expensive, but something older like a 5600xt for example. Cheaper, less power and heat, etc.. Even those are impossible to obtain without paying an arm/leg for it. So for now, I'm just mining on the side with what I have at hand. I didn't know this until last night, but a 2060Ti MAXQ hashes 21MH at a mere 65W.

[SirBaron]

Only 2? Theres millions out there on shelves. All MSRP

That would be like me telling the people who can't find a card they are wrong, I found plenty

You're the one who keeps resorting to exaggerating.

I'm not saying there's many cards or they're not overpriced, but that's everything tech at the moment.

But like I said keep on exaggerating, makes what you say right or wrong automatically look ridiculous.

[SuperGeil]

Linus' take

https://youtu.be/XfIibTBaoMM

This is why I said hand-shaking mining to only the Quadro or AMD WX pro cards is the most logical and fair path to go. The problem with making mining only cards without outputs is that they are completely wasted when done with. No second hand value what so ever, just huge waste.

Make the miners pay a premium just like us render guys do. It will still affect consumer cards, but it would all get normalized sooner or later.

Mad respect to Linus, though. The green side tends to be the most irrational apologist, and he just dropped a 13 million subscriber truth bomb.

[Nunz]

What the hell is there to "enjoy"? Watching a bunch of numbers appear on the screen? I fail to see how this is a hobby. I don't understand fishtanks either but at least it's nice to look at

[SuperGeil]

You're the one who keeps resorting to exaggerating.

I'm not saying there's many cards or they're not overpriced, but that's everything tech at the moment.

But like I said keep on exaggerating, makes what you say right or wrong automatically look ridiculous.

Tech is in high demand, but you are blind if you think that GPU's are not extra unordinary. You can jump on him for exaggerating, but you are playing down the entire GPU situation with your anecdote.

[Riptide]

What the hell is there to "enjoy"? Watching a bunch of numbers appear on the screen? I fail to see how this is a hobby. I don't understand fishtanks either but at least it's nice to look at

Putting computer parts together and making them run is fun for me. Maximizing the efficiency of the operation, maintaining it, and to some extent stacking the coins is all part of it for me. No interest in running a commercial operation at all, just a little side hobby like gaming is for me too.

Incidentally, I like fish tanks.

[SirBaron]

Tech is in high demand, but you are blind if you think that GPU's are not extra unordinary. You can jump on him for exaggerating, but you are playing down the entire GPU situation with your anecdote.

Buying a PS5 currently is as bad as trying to get any GPU. (for now)

I'm not saying it's GPU's are easy to buy or that they are not overpriced, what I'm saying is that more than 1 person on this forum bought the cards for MRSP.

That's just factual information, not downplaying how **** the market is now, as it is ****.

You can make a point, without having to resort to extreme exaggerations.

[Leprechaun]

Okay PS5s are available as are all current gen GPUs.

[bill dennison]

Buying a PS5 currently is as bad as trying to get any GPU. (for now)

I'm not saying it's GPU's are easy to buy or that they are not overpriced, what I'm saying is that more than 1 person on this forum bought the cards for MRSP.

That's just factual information, not downplaying how **** the market is now, as it is ****.

You can make a point, without having to resort to extreme exaggerations.

name one after bitcoin hit 40k

you got yours right away last year and so did crashcar24 in the first 2 or 3 months
they were just starting to free up till mid January then bitcoin spiked

that others got them before crapcoin spiked is meaningless now try to get ont now at MSRP

and ps5 has sole close to 5 million now you think there are even half that in 3080's

[SIrPauly]

Damned if you don't do anything and damned if you try to do something about the mining demand.

[bill dennison]

Damned if you don't do anything and damned if you try to do something about the mining demand.

they need to kill mining on NV cards somehow .
and more than 50%
if they have to rerelease every card with a new bios and a some anti mining chip do it

AMD did with the infinity cache not that i think they were trying for that it is just a happy byproduct

[Leprechaun]

they need to kill mining on NV cards somehow .
and more than 50%
if they have to rerelease every card with a new bios and a some anti mining chip do it

AMD did with the infinity cache not that i think they were trying for that it is just a happy byproduct

Nvidia would murder their own sales so badly then. I've bought more cards in the last 3 months than combined ever just for gaming 1987-2020. Let that sink in.
They need to look like they care while still raking in $$ from gamers and miners. Also, the GPU is a compute/machine learning/multi purpose tech. To make it detect all mining algorithms and somehow not mess up people doing data crunching, simulations, etc would be hard. Why would they invest money to create something to lose money with less sales? It's a messed up situation all around.

[Riptide]

Sometimes in life we have to accept we're not going to get our way. We aren't going to get what we want, when we want it, and how we want it.

This may be one of those times some of us need to just suck it up and deal.

[curio]

I think he said he already had one? He seems quite bent atm.

Yeah I saw he said that he had one. Still though I'm with Nunz on this one, mining ****ed gamers - it absolutely did.

[SIrPauly]

they need to kill mining on NV cards somehow .
and more than 50%
if they have to rerelease every card with a new bios and a some anti mining chip do it

AMD did with the infinity cache not that i think they were trying for that it is just a happy byproduct

Why would you do that if there is actual demand for mining? The key is to try to meet demand for both markets.