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Cryptocurrency rant

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#1
Hi. Dunno if this is the place to put this thread but here goes. And this may or may not be a little bit of a rant...

Something has to be done about this Crypto currency mining craze. Graphics cards meant for gamers are simply being bought up in their hundreds and prices going through the roof as a result. This is not fair on the intended audience of these video cards. How long will this last? If it lasts for too long PC gaming will essentially die unless you wanna game on a 1050 Ti forever. (Well that isn't THAT bad, but still). I was an idiot and sold my GTX 1070 Ti on ebay hoping to get a massive profit to pay for 'real life' things. (Ugh). Will find out tomorrow what it makes, but even so, I'm now stuck on a GTX 1050 (non Ti) for the foreseeable future.

Will Next-gen video cards (thinking 20 series) be priced through the roof or will the stock simply vanish into thin air as more and more people want free money they haven't worked for?

Can NVIDIA or AMD implement bios/firmware locks in GeForce and Radeon RX gaming cards to prevent mining on them? And then allow bulk sales of the special purpose mining cards? Or can retailers implement a 1 or 2 per customer rule like NVIDIA does already?

Because this is just not fair. I am beginning to really hate mining and miners in general.

/rant
 
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#2
Greed has existed since the beginning of time.

Try to overclock your 1050 till something we can get comes along.
 

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#3
I agree, it's pretty frustrating, but there's no silver bullet, unfortunately.

At least you can be joyous that large, faceless, corporations AMD and NVIDIA are both making a killing on selling graphics cards...
 
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#4
Won't last long for nvidia cards, they just released a statement trying to steer retailers to limiting it, but from what I read, they aren't limiting it to households, but individual people... small hurdle for miners to jump, might help a little, but not much...
 
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#5
At least you can be joyous that large, faceless, corporations AMD and NVIDIA are both making a killing on selling graphics cards...
Sure they are selling a lot of GPUs, but the ones making a killing are the retail shops who set prices so much higher than MSRP.
 
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#6
Be patient. GPU orders take a long time to fill, and the manufacturers and board partners, along with retailers, seriously underestimated demand around last september (most orders are made quarterly, from what I understand.)

Regardless, don't be mad at the miners. Be mad at the retailers who are price gouging just because they can. I mine, and I can't buy new cards either at these prices, so we're in the same boat.
 

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#7
Sure they are selling a lot of GPUs, but the ones making a killing are the retail shops who set prices so much higher than MSRP.
It's true they do. :ohwell: I wouldn't be surprised that the price the cards are sold to the retailers fluctuates too, though.
 

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#8
I find it funny....

You start with a mini rant about how the cost has gone so high due to mining, yet continue on with the fact that you are using it to your advantage selling the 1070 at way above average pricing. Seems to me you are confused as you are playing both sides of the issue.
 
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#9
Be patient. GPU orders take a long time to fill, and the manufacturers and board partners, along with retailers, seriously underestimated demand around last september (most orders are made quarterly, from what I understand.)

Regardless, don't be mad at the miners. Be mad at the retailers who are price gouging just because they can. I mine, and I can't buy new cards either at these prices, so we're in the same boat.
This is bang on right, no company just churns out chips without an expected customer , and mining picked up again it's that simple.
Just before Christmas cards were in stock for reasonable prices , but not now for sure.

I would recommend the hate going round be used to work hard ,earn more, buy a titan xp , mine with it , within a year your cards paid for it's self, though your soul may then be tainted to some.
 
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#10
Its frustrating but really its not hurting the gaming industry. If anything its making it stronger. What do you want to be done? Government intervention? Give me a break. Its the free market and it will work it out. Cryptocurrency will crash its just a mater of when
 
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#11
I find it funny....

You start with a mini rant about how the cost has gone so high due to mining, yet continue on with the fact that you are using it to your advantage selling the 1070 at way above average pricing. Seems to me you are confused as you are playing both sides of the issue.
That is a little ironic.

Still, I feel his pain in principle.

That pain is part of the reason at the end of my miners run, I will likely sell the cards here for half of MSRP, like I always do, no matter what prices dictate. It'll likely be a year from now, so hopefully shit has settled by then, but if not I'm not going to go and sell them for 2x MSRP or whatever. I'm just going to do my usual.

I'll try and give you guys some notice so you all have a fair grab at it.
 

cdawall

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#12
Why does it bother people? The heavy increases in prices and complete lack of video cards has only been the last month or so. I have still been picking up GPU's at acceptable prices for the same period of time. It requires more research and effort, but if I can do that as a miner looking for more cards why can you not do it as a gamer looking for a new GPU?

Mining has become a livelihood for a lot of people. This is not some overnight fad. When the market crashes there are people that will loose everything. I don't wish that on anyone and nor should you for your own childish gain.

Locking out GPU's isn't going to fix anything people will just figure out how to bypass it or all of the stock that would have gone to make a gaming GPU branch would just be used for mining editions that could be sold at a premium because the market is larger. Remember miners are not buying one or two gpu's they are buying one or two cases at a time.
 
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#13
Why does it bother people? The heavy increases in prices and complete lack of video cards has only been the last month or so. I have still been picking up GPU's at acceptable prices for the same period of time. It requires more research and effort, but if I can do that as a miner looking for more cards why can you not do it as a gamer looking for a new GPU?

Mining has become a livelihood for a lot of people. This is not some overnight fad. When the market crashes there are people that will loose everything. I don't wish that on anyone and nor should you for your own childish gain.

Locking out GPU's isn't going to fix anything people will just figure out how to bypass it or all of the stock that would have gone to make a gaming GPU branch would just be used for mining editions that could be sold at a premium because the market is larger. Remember miners are not buying one or two gpu's they are buying one or two cases at a time.
Too true ,plus with all the sales hopefully both companies can provide better Future GPUs due to good RnD capital.
But your winning point is that segregation would put gamer's even farther down the que behind millitary ,acedemia, corporate, servers ,developers ,miners, then gamers shit Nvidia already has 3 teirs just for gamers and where are they pricing their best tech.
 
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#14
Can NVIDIA or AMD implement bios/firmware locks in GeForce and Radeon RX gaming cards to prevent mining on them?
Nope.

Or can retailers implement a 1 or 2 per customer rule like NVIDIA does already?
Retailers don't give a shit , if anything they are the ones that profit the most out of this.

When the market crashes there are people that will loose everything. I don't wish that on anyone and nor should you for your own childish gain.
Oh , spare us the guilt card (Why even bring that up ?). There are a ton other things that people mindlessly do risking their livelihood and quite frankly mining should be the least concerning out of them all. Someone that dumps 20K on video cards wouldn't have a glimmer of sympathy form me if the market would crash. Not because I want cheap GPUs but simply because it would be stupid for me to care about such a thing. It's not like someone forced them to do that.
 
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cdawall

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#15
Oh , spare us the guilt card (Why even bring that up ?). There are a ton other things that people mindlessly do risking their livelihood and quite frankly mining should be the least concerning out of them all. Someone that dumps 20K on video cards wouldn't have a glimmer of sympathy form me if the market would crash. Not because I want cheap GPUs but simply because it would be stupid for me to care about such a thing , it's like someone forced them to do that.
People take risks for everything and since you apparently know everyone's situation how do you know someones back up plan wasn't mining?

It is a quite viable market right now. $500 Billion USD, that is larger than the country of Polands GDP. The loss and damage of that market will have worldwide affects on everything and everyone. Remember some countries are accepting crypto as legal tender now. A market crash is bad for the world economy regardless of what market crashes.
 
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#16
I find it funny....

You start with a mini rant about how the cost has gone so high due to mining, yet continue on with the fact that you are using it to your advantage selling the 1070 at way above average pricing. Seems to me you are confused as you are playing both sides of the issue.
I would have had to sell my 1070 Ti anyway as I needed the cash back from it for personal reasons and it was too late to return it. Just doing it now is a coincidence and maybe I can actually make a profit from this mess.

This whole thing just bugs me because I am, by nature, a depressing, negative person with catastrophic thinking styles. I like to buy GPUs quite often, in fact in some communities I'm known to change GPUs more often than underwear (Which isn't true, I change underwear once a day, GPUs more often every 2-3 months). This is because I'm a fickle, unstable sort-of-a-fangirl to whatever company produces the components in my PC at the time of writing.

I'm allowed to be annoyed. When GeForce 20 series comes out, they had better be in stock long enough for me to get 2070 or something. >:|
 
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#17
People take risks for everything and since you apparently know everyone's situation how do you know someones back up plan wasn't mining?
let's just say I will not shed a tear at someone's attempt of making money or just straight greed , whether they a backup plan or not. Be real , no one start's mining with their garage full of cards when they are strapped for cash and don't have a "back up plan" , they do it mostly out of the desire to get rich.

But don't get me wrong , I do not oppose any of this , everyone wants money after all. Anyone is free to do whatever they want I just don't feel like I should care about them if they fail. Small businesses fail around the world like mad , they affect the economy much more so than mining. But I don't see much concern about them , and for good reason , it's not anyone's problem if someone invets in something and it fails.
 
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#18
Anyone is free to do whatever they want I just don't feel like I should care about them if they fail. Small businesses fail around the world like mad , they affect the economy much more so than mining. But I don't see much concern about them , and for good reason , it's not anyone's problem if someone invets in something and it fails.
I get that. I mean I have empathy for people who would lose a lot in crypto but I see what they invested as high risk and it does what it says on the tin, more or less. I can give them a sympathetic "oh, that sucks" but that's about all I can give.

The issue here is as @cdawall says, this will take more than itself down with it.
 
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#19
It would be interesting if Nvidia and AMD could install a special chip on their GPU's that if it detects mining software it shuts itself off automatically. and then making mining specific cards for that crowd. would be interesting if that is possible
 

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#20
I would have had to sell my 1070 Ti anyway as I needed the cash back from it for personal reasons and it was too late to return it. Just doing it now is a coincidence and maybe I can actually make a profit from this mess.

This whole thing just bugs me because I am, by nature, a depressing, negative person with catastrophic thinking styles. I like to buy GPUs quite often, in fact in some communities I'm known to change GPUs more often than underwear (Which isn't true, I change underwear once a day, GPUs more often every 2-3 months). This is because I'm a fickle, unstable sort-of-a-fangirl to whatever company produces the components in my PC at the time of writing.

I'm allowed to be annoyed. When GeForce 20 series comes out, they had better be in stock long enough for me to get 2070 or something. >:|
I have done the same thing on these pages for over a decade now, except more often typically. Now I do it by the few dozen. What difference does it make? I will make sure to buy up as many next gen cards for you as humanly possible.

let's just say I will not shed a tear at someone's attempt of making money or just straight greed , whether they a backup plan or not. Be real , no one start's mining with their garage full of cards when they are strapped for cash and don't have a "back up plan" , they do it mostly out of the desire to get rich.

But don't get me wrong , I do not oppose any of this , everyone wants money after all. Anyone is free to do whatever they want I just don't feel like I should care about them if they fail. Small businesses fail around the world like mad , they affect the economy much more so than mining. But I don't see much concern about them , and for good reason , it's not anyone's problem if someone invets in something and it fails.
Doesn't matter if someone goes all in or this is on the side. Mining is people's live's and at this point with a market in the hundreds of billions of dollars it would be more like the vehicle market failing. This isn't a small business.

It would be interesting if Nvidia and AMD could install a special chip on their GPU's that if it detects mining software it shuts itself off automatically. and then making mining specific cards for that crowd. would be interesting if that is possible
So you want to remove abilities from GPU's? What's next you buy an EA pack to activate games for your specific GPU? Don't set a precedent of feature removal is ok.
 
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#21
It would be interesting if Nvidia and AMD could install a special chip on their GPU's that if it detects mining software it shuts itself off automatically. and then making mining specific cards for that crowd. would be interesting if that is possible
It's been discussed here extensively. The real issue is I am not completely convinced there is any way to detect that kind of workload reliably vs gaming and gaming compute.
 

sneekypeet

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#22
I would have had to sell my 1070 Ti anyway as I needed the cash back from it for personal reasons and it was too late to return it. Just doing it now is a coincidence and maybe I can actually make a profit from this mess.

This whole thing just bugs me because I am, by nature, a depressing, negative person with catastrophic thinking styles. I like to buy GPUs quite often, in fact in some communities I'm known to change GPUs more often than underwear (Which isn't true, I change underwear once a day, GPUs more often every 2-3 months). This is because I'm a fickle, unstable sort-of-a-fangirl to whatever company produces the components in my PC at the time of writing.

I'm allowed to be annoyed. When GeForce 20 series comes out, they had better be in stock long enough for me to get 2070 or something. >:|
I never said you could not feel or say anything. I just picked up on the irony and commented on it.

Also, look harder for cards! I just picked up a pair of 1080ti cards for what single cards are selling for in the used market ;)
 
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#23
I never said you could not feel or say anything. I just picked up on the irony and commented on it.

Also, look harder for cards! I just picked up a pair of 1080ti cards for what single cards are selling for in the used market ;)
TEACH ME! I need 1070's lol.
 
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#24
Me too..... I could use one or two for free since it's extremely unlikely I'll ever get another new one with the personal issues I have going on.

@ the OP - I understand the frustration you have with all this going on and frankly I'm not into mining or even think it's a good thing because I don't - That's something I've never tried to hide on my part.

As for the cost, well... It's gonna be what it's gonna be. :ohwell:
The market doesn't care about what we may think about it or if we can even get one as long as what's in the market is selling in the first place. It's only when the sales slow down that these crazy prices and "Out of Stocks" will lessen or go away but also as pointed out about greed itself, it's just good old human nature at work in it all. As long as someone can make a profit from mining it's gonna continue with or without us.
 
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#25
Mining is people's live's and at this point with a market in the hundreds of billions of dollars it would be more like the vehicle market failing.
I think you are seriously overestimating it's worth in relationship with the rest of the world. Don't be so dramatic , it wouldn't be as apocalyptic as you describe it and it wouldn't ruin such an endless amount of lives. And even if it would, it would still not concern me , mining is something you do voluntary.

Whats next , feeling sad for those who are slinging dope ? You know , that "market" is worth billions too and I am sure that in the event of something , many lives would be ruined as well.
 
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