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Elon Musk snubbing Bitcoin…GPU stock/prices improve???

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Could Elon’s detachment from Bitcoin due to its environmental impact from mining be the trigger we’ve been waiting for & spur some kind of stock availability? I don’t think so, but it’s an interesting thing how one man can have such an influence on Bitcoin & it’ll be something to look out for anyway…

1620900155460.png
Get a load of the soaring power consumption from mining…

1620900317639.png
 
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The key point in the statement from Tesla is that they also will be 'hodl'ing their bitcoins. What this is, is him dumping the value to buy more. There was also mention I read online that he was getting his wee wee slapped by green advocates cause I guess Tesla obtained a lot of investment money from such groups.

The real hard hitter was the altcoins or jokecoins as some were dumped by that Russian guy who gave them as donations to charities for India's relief due to covid issues.

This is temporary like the rest. And I dont really see the need for a new thread regarding this. GPU prices are not gonna get better. Maybe in July the ones who were looking for a quick buck may scramble to sell their mining GPU's and that may help a bit. But not as much as some of you guys are expecting.
 
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And I dont really see the need for a new thread regarding this
Ahh yeah apologies. Didn’t see another topic on this, but it looks to be discussed in general Bitcoin threads.

If mods want to merge this into there, feel free.
 
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Do miners care about the environment?
 
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First of all, understand that GPUs are used to mine ETH, not BTC. Secondly, while it is true that BTC crashes causes dips in basically every other coin ETH profits are still pretty good from what I can gather.
 

ixi

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First of all, understand that GPUs are used to mine ETH, not BTC. Secondly, while it is true that BTC crashes causes dips in basically every other coin ETH profits are still pretty good from what I can gather.

Friend of mine use rtx 3070 to mine btc and he earns monthly 160e, so dunno how true is your info.
 
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Friend of mine use rtx 3070 to mine btc and he earns monthly 160e, so dunno how true is your info.

As of this moment for me:

AMD RX 6800xt is making $16 CAD a day
ASUS RTX 3070 Dual OC $11 CAD a day
2x Gigabyte RTX 3070 Gaming OC $36 CAD a day

The asus dual gets the least cause its memory OC is pretty bad.

I was on average only making at best $24 per day. Now I am making much more for the last few days. This drop has reduced the amount I am making in terms of CAD but in terms of BTC it is still up. And with ETH still being rather valuable, my overall payments per 4 hours is higher than ever. About double to some cases triple.

Edit: I may have over-read what you are saying. As @Superzuber says, you get paid in BTC and not whatever you are mining, if you are using Nicehash. If you were mining directly, you would be mining the coins via joining pools.
 
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Superzuber

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Friend of mine use rtx 3070 to mine btc and he earns monthly 160e, so dunno how true is your info.
ppl are usually paid in BTC by the pool/platform (like nicehash), no matter what they mine (usually ETH)
 
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Do miners care about the environment?
20 million concurrent steam users right now, each one pulling probably 300+ watts at least from the wall. That's a lot of "wasted" energy based on a single platform.

I'm not defending mining but gamers attacking mining over it not being "green" is casebook hypocrisy.
 

ixi

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As of this moment for me:

AMD RX 6800xt is making $16 CAD a day
ASUS RTX 3070 Dual OC $11 CAD a day
2x Gigabyte RTX 3070 Gaming OC $36 CAD a day

The asus dual gets the least cause its memory OC is pretty bad.

I was on average only making at best $24 per day. Now I am making much more for the last few days. This drop has reduced the amount I am making in terms of CAD but in terms of BTC it is still up. And with ETH still being rather valuable, my overall payments per 4 hours is higher than ever. About double to some cases triple.

Edit: I may have over-read what you are saying. As @Superzuber says, you get paid in BTC and not whatever you are mining, if you are using Nicehash. If you were mining directly, you would be mining the coins via joining pools.

There is a small chance I'll get 5 rtx 3080 for 850 euro each, lets wait and see. If I'll be able to get them. Then I'll jump in in the buck wagon.
 
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There is a small chance I'll get 5 rtx 3080 for 850 euro each, lets wait and see. If I'll be able to get them. Then I'll jump in in the buck wagon.

hey, good luck! In July though, the payouts will drop considerably. But if ETH prices spring up even further (like 6 - 8K), then it will soften the blow and more or less get us to what we were mining a few months ago.

Once it gets to ETH 2.0 like they been saying and wanting to push for this year or next year (next year I believe I have read the most), then we cant mine ETH anymore and nicehash will look at alternatives. Those alternatives wont be as profitable either.

Just warning you.
 
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20 million concurrent steam users right now, each one pulling probably 300+ watts at least from the wall. That's a lot of "wasted" energy based on a single platform.

I'm not defending mining but gamers attacking mining over it not being "green" is casebook hypocrisy.

So that's no then.
 
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My steam can be open for weeks at a time and I don't play anything. Or it can be off for weeks at a time. My rig is pulling 80w to type this.

Also, when one logs into steam to play a game, that game will only last an hour or two, more if you are hardcore I guess.

How long do you leave your mining client open? :D

Unless someone has access to actual numbers, any number being thrown around is just that.. a number that is meaningless..
 
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So that's no then.
Yeah miners don't care about environment, they care about profit, just look at the guys happy to announce that they'll be getting 5 3080's for mining when majority over here is pissed off that they can't get their hands on GPU. But do gamers really care about the environment or do they care that their hobby is getting more or more expensive due to demand from miners?
 
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Friend of mine use rtx 3070 to mine btc and he earns monthly 160e, so dunno how true is your info.

Why wouldn't it be true ? Didn't I say the same thing, that ETH mining is still profitable ?
 
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Yeah miners don't care about environment, they care about profit, just look at the guys happy to announce that they'll be getting 5 3080's for mining when majority over here is pissed off that they can't get their hands on GPU. But do gamers really care about the environment or do they care that their hobby is getting more or more expensive due to demand from miners?
For many it's both and the "If gaming uses even 1mw of electricity then it's no different to mining, and they're both the same, right?" is one giant false equivalence. Merely looking at the Steam HW Survey, the most popular gaming cards are 1050Ti and 1060 (75-120w) with 1650 and 1050 (75w) also being in the top 5. Most gamers only own one GPU not a farm of them. Most gamers only play a couple of hours per day not 24/7. There's a lot of iGPU's, APU's and mobile chips in there (as are 1366x768 resolutions obviously laptops drawing 10-30w under load). Impact per person is not even close to being the same as a disproportionate few pumping well over 1kw 24/7.
 
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i dont mine because of the toll on the planet, but i think Elon is a hypocrite but arnt we all to some degree.
 
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20 million concurrent steam users right now, each one pulling probably 300+ watts at least from the wall. That's a lot of "wasted" energy based on a single platform.

I'm not defending mining but gamers attacking mining over it not being "green" is casebook hypocrisy.

Wow. If you honestly think every person that has Steam open is actively gaming non-stop and believe they are all pulling upwards of 300W.....you're sorely mistaken.

I have Steam open on my computer, but the only thing I use it for is an easy VOIP to chat with my brother. My computer is probably on 12 hours out of the day and I probably average around 1 hour of gaming a day (some days I don't play, some days I may play 3-4 hours in a day).

The idea of using Steam as a tool to decide how many people are gaming simply based on current users on the platform is about as useful as using the "Steam Survey" to get an idea of how many people have new GPUs or how many people use Windows 10 vs Windows 7....or to get an idea of how many people utilize a 1080p resolution vs 2k or 4k resolutions.

I'm not defending gamers nor am I pointing fingers at gamers or miners, but your source to blame one group over the other is a very skewed source to use.
 
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You have seen the racks.. the majority of these cards are not making it into peoples computer rooms or kitchen tables, they are sitting in big spaces owned by big company's or wealthy individuals making them money.

Or not.. :D
 
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Wow. If you honestly think every person that has Steam open is actively gaming non-stop and believe they are all pulling upwards of 300W.....you're sorely mistaken.

I have Steam open on my computer, but the only thing I use it for is an easy VOIP to chat with my brother. My computer is probably on 12 hours out of the day and I probably average around 1 hour of gaming a day (some days I don't play, some days I may play 3-4 hours in a day).

The idea of using Steam as a tool to decide how many people are gaming simply based on current users on the platform is about as useful as using the "Steam Survey" to get an idea of how many people have new GPUs or how many people use Windows 10 vs Windows 7....or to get an idea of how many people utilize a 1080p resolution vs 2k or 4k resolutions.

I'm not defending gamers nor am I pointing fingers at gamers or miners, but your source to blame one group over the other is a very skewed source to use.
I'm not blaming one over the other, I'm saying that both activities waste energy and by definition have bad impact on the environment.
 
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20 million concurrent steam users right now, each one pulling probably 300+ watts at least from the wall. That's a lot of "wasted" energy based on a single platform.

I'm not defending mining but gamers attacking mining over it not being "green" is casebook hypocrisy.
A) That's a very high estimate. The average gaming PC, something like an i5+1060, pulls 200W or less from the wall in most games. A high end PC will obviously be more, but those are quite rare. Just look at the steam hw survey.
B) Gamers don't play 24/7. Most play for a few hours a day.
C) Playing games has social and personal value to people, creates positive experiences, etc. Mining crypto helps prop up a system for people to gamble on the value of arbitrary tokens. Personally, I see the former as far, far more valuable than the latter.
 

ixi

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Why wouldn't it be true ? Didn't I say the same thing, that ETH mining is still profitable ?

You said before that people with gpu don't mine btc. Instead of btc they mine eth. I'm saying that my friend mines btc with gpu. And still earns monthly 160e.
 
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You said before that with gpu people don't mine btc. Instead of btc they mine eth. I'm saying that my friend mines btc with gpu.

No he doesn't, BTC mining with GPUs is long dead. What he probably meant to tell you is that he gets payed in BTC but the actual coin that is mined is ETH or something else. Then it gets converted and he receives BTC.
 
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Elon's words mean nothing as long as he holds on to his Bitcoins.
It's like some clown buying a Tesla and then saying they won't drive it because it's manufacturing process wasn't green.
 
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