NVIDIA to limit hash rate of GeForce RTX 3060 GPUs and will launch NVIDIA CMP for professional mining

hash rate need to be reduced in HW by 99% not just in Bios and Drivers but HW too till then it wont matter miners will just hack the drivers and bios and it will continue. Nvidia know this isnt gona do anything, this nothing more then PR to make it look like there doing something about it.

 

I would rather see a ...crypto crash!

 

In all honesty I see paper cash going the way of dodo bird, I expect digital cash being thing before i die, which crptocash is the start of.

I just want prices to back to normal

We know GPU manufacturer are making out bandits due to crazy. and dont really care if miners are getting them. we are lucky they are trying to sell on MSRP that scaplers selling at... yet give it time if people keep stupidly pay that.

 

Same way as part of stock market can drag down rest of it, crypto as "currency" may drag down real currencies.

But there is difference. Stocks are practically pointers for some real world assets. Currency is backed by trust in issuing country's GDP and future outlook.
Crypto, which is not real currency is not backed by anything behind it except blind faith that its value will go up. And even many of those who trade it do not talk about it as currency. But rather as commodity. Problem is that if it is commodity, there is nothing practical one can do with it at all.

If you've seen my calculation for cost of doing one Bitcoin transaction, you know that anyone who buys and sells it should be ashamed.
Someone remembers times where it was marketed as something that will replace corrupt banks? Well, bank transactions do not cost $20 USD + 837kWh of electricity. (But I did calculation and price check last week. Now it is $25 + electricity.)

People may not realize energy burden of transaction. But they certainly know what has been paid for transaction itself in USD.
- - - -
As for world currencies. They may crash. But it did happen before. We may have smaller of bigger "reset". EU did huge financial machinations around Greece, just not to admit that Euro is failed currency. Put debt burden on other countries in EU. And then Central Bank quietly erased Greek debt bank held itself.

When someone looks at Gamestop thing. Power players were doing stupid thing and high risk transactions because they thought that they were too big to fail.
Some Money issuing banks around the world do similar things. And sooner or later it may backfire.

So while crypto can drag real world currencies down, it will be work of Central Banks which will set up everything for failure. And due to c19, their hands are untied and are practically free to do more stupid things than ever before.

 

Miners seem very excited about the 3060, even with Nvidia nerfing its eth hash rates. It can still be used to generate substantial profit with other cryptos. Even if bought at $800, the ROI can cover its cost in 4 months:

https://www.reddit.com/r/EtherMinin...060_hashrates_for_ravencoin_conflux_ethereum/

 

I was in no say way crpto currency gona take over paper cash, I just mean at some point cash will just be digital, much easier to keep track of track and what not well atlest in theory.

As for the people that mining use this insane amount power to "mine" they dont care. any more then people care about gobal warming, people dont believe till the problem slaps them in face. So long as profitable to person doing they will never care, no mater the reason.

Like said Nvidia need to cut the hash rate by 99% VIA HW changes and Bios and Drivers this will put stop to it, of world governments put stop crpto mining which they wont cause there using it to it "FREE" money other then insane cost for power consumption. that or power companies find way to see "who" is minging can they cause see huge power consumption spikes that and put huge levies on it which i dont see them doing either.

Power consumption is not just Mining problem it world problem that getting worse and we become even more so when fossil fuels run out, cause environment friendly power sources are not enough to power the world they cant even power some countries with out fossil fuels last i checked and power consumption is going up yearly not down.

 

Right, these were not hard to get at launch if A: you did a bit of research about how to get consumer electronics that sold out in 2020 and B: Got yourself and your partner on 2 PCs with decent connections with a few websites loaded in tabs with saved payment info ready to go at launch time.

Our streaming machines are both loaded with 3060s now to offload our 3090s. Neither of us mine bitcoin or whatever we don't give a damn about that and we've never made a penny off the consumer electronics market. If we ever had a chance to buy something others want we gift it to them at retail or even a discount in the case of Xbox Series X to my workmate.

We didn't use a bot, we didn't use a discord group for sales, we just had preparation and traditional shopping. It worked for the ps5, XSX, 3090 (that one was tricky with much screaming and throwing different credit cards across the room when one hit the verification check) and this time 3060 (much easier)

Seriously if you are prepared to pay hundreds of pounds or dollars for something you can make the little bit of effort. Consumer electronics isn't fast food anymore.

 

and it has been hacked..

 

Not sure if this has been highlighted, but Linus did a vid on nVidia's spin with regards to CMP, it isn't for gamers' sake, it's all about the bottomline now and the future. CMP cards cannot be used for gaming in the future (like the GTX1000 series cards, after the CM slump, many GTX 1000 cards were put on sale, taking a bite out of the RTX 2000 sale). nVidia does not want this to happen, hence, CMP cards that are NOT re-saleable to gamers.

REMOVED, posted so many times already.