NVIDIA GeForce RTX 3060 Ti performance in Ethereum mining shows good results

Discussion in 'Frontpage news' started by Hilbert Hagedoorn, Nov 25, 2020.

  1. Kaarme

    Kaarme Ancient Guru

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    Cryptocurrency would be far less attractive and thus far less worth it if you couldn't use it for anything legit. That is, if there were no reputable ways to exchange it for either real money or services/products in legal places. Of course there would always be some small countries here and there that would try to profit from it, but it would still be more limited.
     
  2. 0blivious

    0blivious Ancient Guru

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    There are still 36 days left. This is just a reminder that 2020 is not done with us yet.
     
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  3. Stevethegreat

    Stevethegreat Member

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    It's basically banking without the corruption.

    I expect dictatorships to ban it (as they already did), in the free world? Naaah, they'd regulate it, most possibly more and more they'd become part of the mainstream.

    I mean I was able to find liquidity in a trusted secure way without any red tape via a smart contract running on the Ethereum Network. Wake me up when traditional banking can do that.

    It's basically the Internet version of banking, a bit of how social media is the Internet version of the news cycle. So a lot of trash but also a lot of good coming out of it.

    Your incapacity to buy a graphics card, btw, is neither here, nor there. Literally nobody cares (for you and your fellow gamers), there are much bigger games afoot. Buy a PS5 if you want to game, whatever...
     
  4. 0blivious

    0blivious Ancient Guru

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    Let's not pretend this is some noble quest to liberate gaming cards and save the planet with them. Do you mining people literally think you are going to re-invent banking and skim money off the top and nothing will happen to shut that down? The free money train stops as soon as bank lobbyists decide to force regulation. Anyone who thinks crypto, in it's current form where Joe-random computer guy makes money mining; anyone who thinks this is taking over the financial world are dreaming. It's just another bubble.

    The bigger it gets, the sooner it fails.

    Meanwhile, it's sure nice to see you mock the entire PC gaming community that you royally bone so that you can make a quick buck. Not that's it's a surprise, but good to see it confirmed.
     

  5. AuerX

    AuerX Master Guru

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    Quoted for posterity
     
  6. Stevethegreat

    Stevethegreat Member

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    I mean you really dont know how it works, do you?

    The system itself is not corrupt, it cannot be corrupted. It's code, what you see (if you actually read the contract), is what gets executed.

    I'm not mining. I'm too old for that kind of mess. I just find wild how tech illiterate people in a tech sites are.

    I was frequenting this site almost 2 decades ago. Back then such discussions were going very different. By now tech enthusiasts are also the regressive part of society. It's a bit funny to see such a change in demographics happening so fast.

    Anyway, the point of decentralization is to make corruption at the base level impossible, or rather very expensive. Yes lowered corruption is an efficiency update which long tems pays off, always. It's basically what computers are doing by automating things, removing the human element.

    Now it's happening to banking, get over it... It's early days, still, its wild, but already works remarkably well, better even than many banking products.

    Again, playing a game on PC or not is neither here, nor there, it's not important, history puts you to the side (through the forces of economics), and you are complaining. That is all I'm seeing, a bunch of old bitter people wanting people off their lawn...
     
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  7. Turanis

    Turanis Ancient Guru

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    NVIDIA GeForce RTX 3060 Ti performance in Ethereum mining shows good results
    Ofc,thats why they push prices high in 2018,now in 2020,for highest profit,not for gamers.

    So where is Rtx 3080?Well,at them... ;)

    The graphics processing units produced by Nvidia are mainly used in video game consoles and graphics cards but they have also become popular with cryptocurrency miners, particularly those extracting coins like ethereum (ETH), monero (XMR), and zcash (ZEC).

    For the quarter in review, Nvidia sold at least $175 million worth of new generation GPUs to ethereum miners, helping the outperformance, according to a note from RBC Capital Markets analyst Mitch Steves. The analyst had guided sales to miners to come in at $150 million for the quarter. (At least 200.000 video cards to the miners)

    Steves noted that the upcoming network upgrade of the Ethereum blockchain, also known as Ethereum 2.0, which is scheduled to take place sometime in December, demands that miners switch over to more efficient mining hardware. Nvidia’s new Ampere GPU chips are thought to meet that need.

    https://news.bitcoin.com/nvidia-pos...s-of-gpus-to-crypto-miners-reach-175-million/
     
  8. cucaulay malkin

    cucaulay malkin Ancient Guru

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    putting miners back to work

    [​IMG]
     
    Last edited: Nov 27, 2020
  9. Fox2232

    Fox2232 Ancient Guru

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    Seem that there is error in article. Stock 6800 does those 60Mh/s at 180W.
    Tuned one with OC memory and downclocked/undervolted GPU still does 60Mh/s at around 125W.

    (Not giving anyone ideas. I was just checking, because it would be unusual for card with 250W TBP to eat 280W while doing just compute task. As that usually results in large portions of GPU being unused in contrast to rendering tasks.)
     
  10. Alan Gresham

    Alan Gresham New Member

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    I thought I'd drop in and point out that, despite the hand wringing and predictions of doom, RTX 3060ti is still on shelves. Ironically the best GPU for mining is the only one that you can but at will (ignoring RTX3090) so those that stated so confidently that miners would impact gamers ability to purchase cards should learn from this and perhaps consider not commenting on topics they have little to no expertise in.

    Radeon 5700 and 5700 XT were the mining kings until the new RTX card arrived on scene as previous nvidias were an inefficient option and noone would have chosen them for mining. 53MH/s at as low as 115W (Sapphire Pulse). My RXT2080 mines at just under 40MH/s at 130W. The best 3060ti that I've seen is 62MH/s at 130W (Asus Dual OC) and the worst is an Asus Tuf that's an expensive underperformer as any attempt to overclock the RAM results in all shares being invalid - it's not even managing 50MH/s at 130W so is a significantly less appealing choice than a 5700 or 5700 XT.

    While Ethereum is up, if you have a GPU with decent mining capabilities then I can't see why you wouldn't consider mining it to at least offset your GPU's cost, if things stay the way they are now some models would take less than a year to pay for themselves. Particularly if you have decent solar and are heating your home at the moment. There is nothing to stop you declaring your income and paying tac on it, if applicable, and still coming out ahead. In fact, if you want to be able to withdraw funds from a crypto exchange then it's quite likely that your government will be told that you are dealing in crypto.

    Ethereum is transitioning to a proof of stake model, from the current energy intensive proof of work (mining). This will mean your earning potential is tied to your existing wealth, rather than your hardware outlay and power consumption. Ethereum classic (ETC) has the potential to fill the void for miners, although it has traditionally offered lower profitability compared to ETH. China has recently attacked it's own citizens mining operations, because it cannot control the wealth generated by them, and I think that anyone asking for free countries to follow their lead should ponder what big-picture values they hold dear before calling for government to try and control crypto. Crypto mining in China has virtually stopped as the government has moved to deny them access to electricity.

    There's also been no mention of the practical role that the blockchain can play in validating transaction authenticity in a decentralised and non-exploitable way. Crypto is not a fad, because many enable a legitimate and useful purpose. It is, however, more volatile than most ever would imagine so that's something to be aware of!

    MY 2c worth anyway.
     
    Last edited: Dec 14, 2020

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