NVIDIA Faces New Class Action Lawsuit Over Cryptocurrency-related GPU Demand Drop

[GhostRyder]

Another cash grab by lawyers who reap the most from any winning claim.

And another symptom of the 'self-entitled, loss averse' greed mongers on the stock market. If there's something greedier than NVDA, it's the opportunist investors who want a free ride.

Edit: before someone says NVDA mislead them, how many hobbyists on TPU have said the crypto bubble would burst? How many of us would have gambled in buying NVDA shares as they were already on their sky high trajectory? Shark lawyers stroking the bellies of idiot investors.

I agree, this is a pretty fool hardy lawsuit only for lawyers to gain money. I think anyone with a brain knew this was going to collapse soon enough, I mean it could not last forever.

The joys of US capitalism, how dare you do wrong! Malfeasance lawsuit incoming.

Yea this is a pretty dumb in the lawsuit world...Everyone is willing to risk all when they make a ton but scream bloody murder when they lose.

I get so tired of this, lawsuits are too mainstream. I wish we had some better protection on both ends that would make this practice obsolete (Not sure what that would be but I digress).

 

[cdawall]

The joys of US capitalism, how dare you do wrong! Malfeasance lawsuit incoming.

That's not how capitalism works. Lol

 

[GoldenX]

As long as it affects the tech world? No one made you read this article... you can skip to your topic of choice anytime.

I'm not blaming you, I'm tired of self entitled "miners" damaging the market.

 

[moproblems99]

I'm blaming you, I'm tired of self entitled "miners" damaging the market.

Not sure where the self entitlement comes from, can you explain?

I'm sorry you feel that way because miners like RTB and myself are not the cause of this. If you took a few minutes to do a little research you would understand that.

Also, anyone with a pea sized brain or larger could have planned for the mining rush. If NV did a bad job, that is on them. If they misled investors, that is on them. A person running 4 or 5 cards has no impact on anything.

 

[Paganstomp]

Next time they should invest in Bath Salts.

 

[moproblems99]

Next time they should invest in Bath Salts.

I really thought shower only bathrooms were all the rage.

Edit: Forgot to quote.

 

[bug]

I'm not the one to encourage hating companies or harassing them. But when they routinely spew out statements like that, it's ok to take them to court for further clarification. It keeps the bs level from sky rocketing more than it already has.

 

[Vya Domus]

A person running 4 or 5 cards has no impact on anything.

Really, how so ? Did all the cards that you small time miners bought went into some kind of void that didn't contribute to anything ? What am I missing here ?

 

[GoldenX]

Really, how so ? Did all the cards that you small time miners bought went into some kind of void that didn't contribute to anything ? What am I missing here ?

Let them dream about free money, we suffer the cost.

 

[bug]

This is why companies scale production cautiously, not at full blast, especially for something based on a volatile currency. it is Nvidia's fault for going all in and ramping 10 series production to max levels trying to cash in on the boom. - slow and steady is the name of the game for a long term successful company, Nvidias reputation is damaged in the wall street circles now

Iirc, we witnessed an inventory shortage (with the complimentary price hikes), precisely because Nvidia scaled production cautiously. They got grilled at the time, because they were supposedly not scaling fast enough in order to cash in on the inflated prices (despite the lack of evidence that any of that money ever left the retailers' hands). The problem was once scaled, the craze ended rather abruptly.

 

[moproblems99]

Really, how so ? Did all the cards that you small time miners bought went into some kind of void that didn't contribute to anything ? What am I missing here ?

I suppose I should have been more verbose. What separates me from having 4 cards mining vs someone having 4 cards crunching? What about someone with 2 sli/crossfire rigs?

 

[R-T-B]

I'm blaming you, I'm tired of self entitled "miners" damaging the market.

You are aware my articles were completely for research and specifically designed to be as eco-friendly as possible, correct? I was hardly an advocate of proof of work by the end either. Decentralized Internet currency is cool, proof of work crypto is not.

If you still blame me after that, I'll quote a guildmate of mine:

"Haters gonna hate. Tater's gonna tate."

Really, how so ? Did all the cards that you small time miners bought went into some kind of void that didn't contribute to anything ? What am I missing here ?

I would not say 5 cards did nothing, but the two cards I bought were literally going into a gaming rig before w1z approved my idea. Today they are in gaming rigs, happily. 2 cards is a pretty normal no-impact purchase.

 

[GreiverBlade]

I suppose I should have been more verbose. What separates me from having 4 cards mining vs someone having 4 cards crunching? What about someone with 2 sli/crossfire rigs?

i can answer for the cruncher : "doing something useful and meaningful not for oneself but for many"

 

[R-T-B]

i can answer for the cruncher : "doing something useful and meaningful not for oneself but for many"

Bitcoin also provides something useful to many. My only issue with it (and it is quite large) is it's disproportianate energy to benefit ratio.

 

[Vya Domus]

What separates me from having 4 cards mining vs someone having 4 cards crunching? What about someone with 2 sli/crossfire rigs?

Oh there is plenty of differences, for one SLI/CF is a very rare setup and hardly anyone goes out and buys 4 video cards to crunch on. But the biggest and most notable difference is that none of these groups go out and buy 4 cards at once simultaneously because of an external (and unpredictable) driving force such as crypto prices.

However you were plenty verbose to being with to answer my question. Why is it that the cards you buy don't matter ?

 

[moproblems99]

i can answer for the cruncher : "doing something useful and meaningful not for oneself but for many"

I can appreciate. But ultimately, my money flows back into the economy and thus helping many. My mining money often went to tips to bartenders and servers so I am pretty sure they aren't going to complain about the mining.

However you were plenty verbose to being with to answer my question. Why is it that the cards you buy don't matter ?

Actually, it was included in my response but you didn't pick it out. The people that caused the GPU problems were those buying pallets and containers full of cards. Those of us that have 4 cards or so are no different than those with a couple of folding/crunching rigs or sli rigs.

 

[R-T-B]

Let them dream about free money, we suffer the cost.

Free money isn't the goal. That's a fools gambit. The payment network is.

However you were plenty verbose to being with to answer my question. Why is it that the cards you buy doesn't matter ?

I mean, if we are being that specific even gamer purchases matter. Point is lower quantity is better.

I can appreciate. But ultimately, my money flows back into the economy and thus helping many. My mining money often went to tips to bartenders and servers so I am pretty sure they aren't going to complain about the mining.

Underestimated factor as well.

 

[lynx29]

Iirc, we witnessed an inventory shortage (with the complimentary price hikes), precisely because Nvidia scaled production cautiously. They got grilled at the time, because they were supposedly not scaling fast enough in order to cash in on the inflated prices (despite the lack of evidence that any of that money ever left the retailer's hands). The problem was once scaled, the craze ended rather abruptly.

not sure what your point is, they were too cautious and then too aggressive, still doesn't change my point at all in that most companies go slow and steady, not go, oh hey we are out of stock, go to max production, most companies go - hey we are out of stock, lets increase production 60% the first 3 months and re-evaluate. - no this is very clear, Nvidia got greedy and wanted to cash in on the crpyto boom, they went to 130% production levels paying workers overtime to keep the factories churning non-stop.

 

[Vya Domus]

The people that caused the GPU problems were those buying pallets and containers full of cards.

There is zero difference between 1000 guys buying 4 cards to mine with versus some bloke in China putting together a mining farm in a warehouse with the same number of cards. As matter of fact the latter is probably a little bit less damaging to the average consumer because they likely got those cards directly from the supplier.

Small time miners had a major contribution to all this without doubt. It all started with them in the first place remember ? Those mining farms didn't spawn out of the blue. I don't know why you even argue about this, if it is so blandly obvious that you guys had nothing to with this why do you feel the need to justify yourself ?

 

[moproblems99]

I don't know why you even argue about this, if it is so blandly obvious that you guys had nothing to with this why do you feel the need to justify yourself ?

Because I can't stand ignorance? So what is the difference between 500 miners having 4 cards and 500 people having 2 sli rigs? Or 500 folders/crunchers having 4 cards? What if I used them for AI/data mining?

Arguing that small time miners are the problem is like arguing that gaming is more useful than mining. Or that gaming is better for the environment.

 

[lynx29]

Because I can't stand ignorance? So what is the difference between 500 miners having 4 cards and 500 people having 2 sli rigs? Or 500 folders/crunchers having 4 cards? What if I used them for AI/data mining?

Arguing that small time miners are the problem is like arguing that gaming is more useful than mining. Or that gaming is better for the environment.

I just think new product launches should be direct from Nvidia store, founders editions - limit 1 per customer and per address, for a introductory 1-2 month period, then limit 4 after that for another 1-2 months, then unlimited - that way gamers have a better chance of getting their game on, and then the miners can have their festival of whatever.

I would like to see AMD do this as well, or make Sapphire (since they are the only exclusive left with AMD cards) do it.

it's not a perfect fix, but it would allow for the most gamers to get their hands on one at least, we are the original industry after all, we should always be their number 1 target, because crypto won't be around forever, and even if it is, it will move to different types of gear.

 

[R-T-B]

There is zero difference between 1000 guys buying 4 cards to mine with versus some bloke in China putting together a mining farm in a warehouse with the same number of cards.

Except, you know... the amount of happy customers (AKA "guys")

 

[moproblems99]

it would allow for the most gamers to get their hands on one at least, we are the original industry after all

Gamers pretty much do nothing but whine anymore and would be the last market that I would give preferential treatment. See every thread that has anything to do with a GPU or CPU. Even doubly so if I was AMD as they couldn't get gamers to buy their cards when they were better.

GPUs are no longer solely intended for gaming and gamers are going to have to live with that.

EDIT: In addition, it was not difficult to get cards near MSRP during 90% of the market boom if you put even a shred of effort in.

 

[R-T-B]

I just think new product launches should be direct from Nvidia store, founders editions - limit 1 per customer and per address, for a introductory 1-2 month period, then limit 4 after that for another 1-2 months, then unlimited - that way gamers have a better chance of getting their game on, and then the miners can have their festival of whatever.

I would like to see AMD do this as well, or make Sapphire (since they are the only exclusive left with AMD cards) do it.

it's not a perfect fix, but it would allow for the most gamers to get their hands on one at least, we are the original industry after all, we should always be their number 1 target, because crypto won't be around forever, and even if it is, it will move to different types of gear.

So many ways around that for those who care...

Gamers pretty much do nothing but whine anymore and would be the last market that I would give preferential treatment.

Sadly, I (a gamer) have noticed this too and agree completely. It is sad.

 

[Vya Domus]

So what is the difference between 500 miners having 4 cards and 500 people having 2 sli rigs? Or 500 folders/crunchers having 4 cards? What if I used them for AI/data mining?

Your group buys these things in a disproportional quantity compared to some one that wants SLI/AI or whatever. All of this "we only buy 4 cards " is bollocks, pardon my french, I know people personally who bought dozen of cards, I have seen them at the checkout with towers of boxes to their side. These two groups simply do not operate on the same scale.

And don't think that I have some issue with this activity in particular or that I consider it more or less detrimental. No, but this "i ain't did nuffin" attitude is pure denial.