That's almost always been true for pretty much every coin lol.you're probably better off just buying 35,000 RVN.
Heh, pretty much. Mining has the coverage on the downside that if the crypto tanks you always sell the cards, but if you're paying $400 for a 1650 good luck getting even close to half that back if crypto in general goes tits up.That's almost always been true for pretty much every coin lol.
Oh how I wish I had bought eth when it was like $10
I'm in the same boat. The PC under my TV has a Haswell i5, and I don't know if I'll ever be able to justify replacing it if these prices continue.
Is this, effectively, the end of the GPU market, as a "gaming device", rather than a "mining device"? I mean, NVidia pulled the LHR card, but as has been seen, it's basically a sort of whack-a-mole game, and there's more miners and talented devs (and new coins) than NVidia, it seems, so it seems like a pointless endevour on the whole.Same here with my current GPU. At some point I have to weight what a GPU does for me vs the asking price. It doesn't matter how fast or how good the GPU is either. Make it 3X as fast as a 3080 with 20GB of ram and if it's around $1000 I'm just not buying it. The value offered from such a device is just not there at these prices, and $1000 is considered dirt cheap these days. I'm definitely tapping out. You should be able to get a fully capable 1440P, high refresh GPU for a few hundred bucks. That's where the value is at for high-end PC gaming. It makes sense there. It doesn't make sense at all to go much higher. The super high-end makes sense at around $6-700 to play games in full glory if you want that luxury.
Is this, effectively, the end of the GPU market, as a "gaming device", rather than a "mining device"? I mean, NVidia pulled the LHR card, but as has been seen, it's basically a sort of whack-a-mole game, and there's more miners and talented devs (and new coins) than NVidia, it seems, so it seems like a pointless endevour on the whole.
Edit: I mean, at "practical, for the masses" pricing models. There will always be GPUs available for the Hermes scarve crowd. Maybe GPUs will go the route of the Rolex, and only Wall St. bankers and their families will be able to afford GPUs and gaming.
While the rest of us, "game" on cell-phones, like dirty (phone) console peasants.
Is this, effectively, the end of the GPU market, as a "gaming device", rather than a "mining device"? I mean, NVidia pulled the LHR card, but as has been seen, it's basically a sort of whack-a-mole game, and there's more miners and talented devs (and new coins) than NVidia, it seems, so it seems like a pointless endevour on the whole.
Edit: I mean, at "practical, for the masses" pricing models. There will always be GPUs available for the Hermes scarve crowd. Maybe GPUs will go the route of the Rolex, and only Wall St. bankers and their families will be able to afford GPUs and gaming.
While the rest of us, "game" on cell-phones, like dirty (phone) console peasants.
BTW, this is not strictly true. Normally what happens is, the hashrate on the network increases, increasing the mining difficulty, so the more miners and mining hardware on the network, the less profit per MH/sec, so eventually, the network reaches a type of equilibrium, and only those miners with deep pockets or free / nearly-free electricity can afford to continue mining. But this has been offset the last few months / first part of 2021, by rising exchange values for coins, in terms of Fiat USD, keeping mining as profitable as ever.Miners have no quantity limit because more GPUs = more money.
Miners are scum. Its been almost a year since I have tried buying a 3080TI at MSRP. I even enter the newegg shuffle for anything that is MSRP. So I have never won that, and never found a card anywhere close to MSRP. I can't really even afford the $1200-1400 MSRP cards, but I want at least one. I refuse to pay scalper prices.
Again, miners are the scum of the earth.
That's almost always been true for pretty much every coin lol.
Oh how I wish I had bought eth when it was like $10
I am surprised you would say this since you are so into distributed computing. You are entitled to your opinion of course, but still it surprises me.Miners are scum. Its been almost a year since I have tried buying a 3080TI at MSRP. I even enter the newegg shuffle for anything that is MSRP. So I have never won that, and never found a card anywhere close to MSRP. I can't really even afford the $1200-1400 MSRP cards, but I want at least one. I refuse to pay scalper prices.
Again, miners are the scum of the earth.
First... I don't JUST do distributed computing, I help research cancer, nothing else. And I am "scum of the earth" since I don't understand crypto ? Tell that to the millions of gamers, and people like me who use video cards in a reasonable manner, instead of using all the natural resources of the earth to make money.I am surprised you would say this since you are so into distributed computing. You are entitled to your opinion of course, but still it surprises me.
Miners aren't the only reason for the lack of GPUs, and they do serve a purpose for those cryptos running PoW. So they make more sense than say, scalpers, or retailers who scalp. Also, there are different sorts of miners. There are large mining farms, which I think we should limit, but there are also small time miners as well. Many miners only mine on a single GPU when not gaming. Sort of a side income.
As we transition to PoS and such more, miners will play a lesser role of course.
Anyway, people who don't understand crypto are the scum of the earth.
Oh, I understand it, I just don't agree with trashing all of our natural resources to make money.I say again, people who don't understand crypto are scum of the earth.
If anything, the novelty is that building crypto farms out of commodity Hardware is the only time I have seen middle class people being able to thrash natural resources to make money. Formerly, destroying the environment for profit was the exclusive playground of big corporations with political lobbyists bribing lawmakers to be able to do so.Oh, I understand it, I just don't agree with trashing all of our natural resources to make money.
Oh, I understand it, I just don't agree with trashing all of our natural resources to make money.
I do not see anything wrong with middle class (Or even lower. Why not all?) people wanting to live out of passive income, then be able to have the FREEDOM to decide if they want to work for more money, or not, instead of the current system where I consider that people that need to work in order to afford the minimum stuff to survive could be simply called a modern day slave. Crypto made such lifestyle accessible for people of lower classes than ever before, and it has my gratitude for that.
Oh, I understand it, I just don't agree with trashing all of our natural resources to make money.
If it were truly wasteful and had no value, people wouldn't freely spend money on it.
More generally even if I did think mining was completely awful I still wouldn't want to ban it because I'm really not going to like it when someone else decides gaming (or something else I enjoy) is awful and uses that same reasoning and precedent to ban the things I think I should be free to do.
Mining isn't even inherently wasteful or destructive of natural resources. Using excess wind or solar power to mine does no further environmental damage and using the waste heat it normally produces in lieu of just running an electrical heater during the winter months or places where it's really cold at night makes far more economic sense than using electricity or other fossil fuels to produce heat.
The tulip example gets thrown around a lot, but it's not particularly applicable. Farmers could (and many did) switch from other crops to grow tulips, which increased supply significantly. I don't thin the general understanding of supply and demand was quite as good at the time (all of this happened 100 years before Adam Smith had even published Wealth of Nations) which partially explains why it crashed in the way it did once people started to realize the situation the market was in.
However, no one can just go out and increase the number of coins that can be supplied over a period as for most of these currencies It's fixed. More people working just makes everyone's work harder. That limits the supply which grows at a rate below that of inflation for most other currencies. While I won't claim that the average investor/user of these crypto currencies is more knowledgeable than the tulip investors of old, there's a better foundation for cryptocurrency being a sensible investment in that it can't really lose value due to inflation, at least not relative to anything that can just fire up a printing press.
Also at what point does an individual miner turn into a mining farm? I'm just curious as to where in your mind it goes from "okay, your equipment" to not? If I use just one watt fewer than an entire country would I still be okay?
I like the argument that crypto frees people because I'm certain there are many people who have experienced freedom because of it. At least in the U.S., I think the biggest gun to people's heads is health insurance. It's essentially blackmail used by employers to keep people working. If people already had healthcare, they'd be free to choose a lower stress, lower demand job that is more flexible and may pay less, but they can live a simpler life where they'd be happier with more time to live and enjoy their family. Maybe a much smaller home in a rural community away from the city etc. But, they can't because they need that stressful city job to keep those outrageously expensive "benefits" for their family. They aren't "benefits" at all. It's blackmail and should be illegal to hold something so vital over people's heads. Every time you're stuck at a red light and might be late, your children's access to health care flashes before your eyes. It makes you hate the system, but you grit your teeth and trudge on because there is no other choice. That's slavery. If digital economies involving hardware could actually solve this problem, then we should go all in. However I'm sure it's not that simple.