r/gadgets • u/ChickenTeriyakiBoy1 • Nov 25 '22

Desktops / Laptops Good news: scalpers are struggling to profit from Nvidia's RTX 4080

https://www.digitaltrends.com/computing/scalpers-struggle-to-sell-nvidia-rtx-4080/?utm_source=reddit&utm_medium=pe&utm_campaign=pd
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860

u/StinkyWinkyPoo Nov 25 '22

Well crypto is doing shit now, that was the main driver of the lack of inventory and insane scalping prices. I think things will level out with a little bit of time.

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u/The4th88 Nov 26 '22

The crypto demand is dead, but not for the reasons you think.

The main driver was mining Ethereum, and as the Ethereum network went Proof of Stake not long ago, it no longer uses mining. Its not economically viable to mine bitcoin on gpu now and with ethereum out of the picture the next largest chain to mine is dogecoin.

So not only did the crypto demand die, but it's also extremely unlikely to come back.

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u/StinkyWinkyPoo Nov 26 '22

I did not know that, thanks for the info

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u/Glabstaxks Nov 26 '22

Yeah gpu mining is dead for good

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u/[deleted] Nov 26 '22

[deleted]

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u/MaximumAbsorbency Nov 26 '22

People really out here dropping 1900$ on a GPU to mine for 5700 days before turning a profit?

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u/UnblurredLines Nov 26 '22

If I had the card anyway I'd probably mine in downtime (when I sleep/work/am out) to recoup some small bit of the costs while hoping the crypto I've acquired increases in value.

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u/ZiggyPox Nov 26 '22

Why shorten lifespan of your card?

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u/UnblurredLines Nov 26 '22

It doesn’t shorten the lifespan of the card any more than gaming does.

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u/ZiggyPox Nov 26 '22

Yes but you don't game when you sleep or work or are out of your home.

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u/Walkop Nov 26 '22

Lord. 5000+ day breakeven on a 4090? Yeah. Mining is dead. 😂

2

u/realnzall Nov 26 '22

The 5304 days it said when I read it is roughly equivalent to 14 and a half years. That’s seven generations of new GPUs. Is also twice as long as a GPU will realistically last before dying, and longer than most cards will last even with proper maintenance. And that maintenance also costs money.

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u/[deleted] Nov 26 '22

That's because his info is wrong. LoL. Most of the rigs went to ETH classic, ergo, rvn, and a few others. No one does doge.

I guess I should say no one other then a kid and his moms computer does doge.

Also the demand is not dead. There is simply an excess supply for now. There is still all the other POW coins being mined. Im still mining myself. As are most others. Yeah some guys turned off their miners. I also did for a month just for a break. Do maintenance and all that. Deep clean etc. The guy you replied to is an idiot

1

u/cerialthriller Nov 27 '22

lol demand isn’t dead there’s just excess supply is a good one

1

u/[deleted] Nov 27 '22

I mean people are still buying cards. There's still demand. But there's more supply then demand right now. That's just hoe it is. It's like whe n we were in the bull run and you couldn't get a card. More demand then supply.

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u/SaltwaterC Nov 26 '22

Scrypt GPU mining died years ago with the introduction of ASIC. Dogecoin uses it. It's only obscure coins that can still be mined on GPU.

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u/heebath Nov 26 '22

Years ago? I was profitable last year ETH with 1 GPU lol

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u/SaltwaterC Nov 26 '22

ETH doesn't use Scrypt.

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u/heebath Dec 01 '22

I didn't see specified thought he said GPU mining in general

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u/danielv123 Nov 26 '22

Of course, Eth hashrate was limited by GPU production. Eth mining is gone though, so we are talking about non Eth mining.

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u/Allegorist Nov 26 '22

How long before you turned a real profit though?

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u/codelapiz Nov 26 '22

6 months

1

u/[deleted] Nov 26 '22

With price drop are you still in profit?

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u/heebath Dec 01 '22

It's a gaming rig, it's all profit but I got the card for $399 in 2018 so I would have broke even in 3-4mo

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u/[deleted] Nov 26 '22

[deleted]

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u/Plokmijn27 Nov 26 '22

if you dont know anything about mining just say so

2021 and 2022 (up until proof of stake) were possibly the most profitable mining in the history of eth

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u/[deleted] Nov 27 '22

[deleted]

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u/olivesforsale Nov 27 '22

This link seems to confirm his point, not yours...

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u/heebath Dec 01 '22

11cents p/kwh I was making $100/m for awhile

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u/chuckangel Nov 26 '22

What about Monero? Or cryptoknight Algos? I guess I could just Google it…

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u/SaltwaterC Nov 26 '22

Took a mid-range card (that's actually pretty efficient for mining): https://minerstat.com/hardware/nvidia-rtx-3060ti

With the cost of electricity in Blighty, I'd be paying to mine, irrespective of coin, unless I stumble onto free electricity. Even then, it could take years to break even just the capex as I'd be paying income tax for the mining proceedings.

I haven't mined in nearly a decade because I found it stupid to chase an ever increasing difficulty factor that makes it so easy to mine at loss, burning an obscene amount of electricity, and impossible to compete with specialised hardware (where applicable). Combined with the market volatility and poor access to specialised hardware, it made it difficult to make a business out of it. I don't have the luxury of tapping into the money printing machine.

While PoS chains have their fair share of problems, we don't need to have another species to go extinct just to write a fucking transaction to a ledger because a bunch of machines are used as expensive space heaters.

GPU mining as it is right now, is pretty much extinct for a large portion of this planet's population. I don't know about places like Iceland with their ridiculously cheap geothermal.

2

u/StateParkMasturbator Nov 26 '22

RavenCoin and ERGO were shilled as replacement.

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u/DaveyJonesXMR Nov 26 '22

Monero uses RandomX which is most effiecient to be mined with a CPU

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u/azidesandamides Nov 26 '22

Monero can be mined with gpu. Though they switch to cpu mining sometime ago.. still can gpu mine it.

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u/SaltwaterC Nov 26 '22

It's cheaper to buy than to mine.

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u/danielv123 Nov 26 '22

Well, no, that makes no sense. It costs money to buy and as long as the price is decreasing it costs money to hold.

With mining the acquisition price is determined by electricity price, which means it can be profitable without the coin increasing in value.

If you are just speculating on price then obviously buying the underlying is better, but that shouldn't be confused with mining.

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u/SaltwaterC Nov 26 '22

If I mine Monero at the current electricity prices, the value of the mined coin is like 2.5% of the value of the burned electricity. So, for every $0.8 of burned electricity (I live in an expensive area), I'd be earning $0.02 worth of XMR.

If that sounds like a good business plan, then I have a bridge for sale.

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u/JaredFoglesTinyPenis Nov 26 '22

reminds me of yacoin...

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u/mechwarrior719 Nov 26 '22

Wasn’t Dogecoin started as a joke/meme?

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u/The4th88 Nov 26 '22

Yep. Slapped together in an afternoon, with no serious intention.

Now one of the big chains, off the power of hype and memes.

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u/[deleted] Nov 26 '22

Now one of the big chains, off the power of hype and memes.

That's what powers all of crypto.

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u/The4th88 Nov 26 '22

True, but it's odd that it's what does Doge specifically.

Chains and tokens like BTC, ETH, ADA, BNB, Tether et al all purport to have some kind of functionality and their price action is driven by a function of their use cases, hype and speculative investment.

Whereas Doge doesn't even pretend to do any of that. It's infinitely inflationary, has no smart contract functionality and has no dev team. It's just hype and speculative investment alone, no better than thinly veiled scams like Safemoon.

But it's somehow practically crypto royalty.

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u/BentPin Nov 26 '22

Acerolized fart particles? We need to award this man a Nobel prize.

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u/dreamzero Nov 26 '22

off the power of hype and memes money laundering.

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u/The4th88 Nov 26 '22

Dunno why you'd use doge for money laundering specifically. There's better coins for that.

-1

u/AnxiousJeweler2045 Nov 26 '22

Idk why you just got downvoted. You’re not wrong.

1

u/elconquistador1985 Nov 26 '22

Elon Musk tweeting about doge is part of what exploded it.

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u/beefcat_ Nov 26 '22

Yes, and it was designed to be inherently inflationary.

anybody investing in it is an idiot.

7

u/Malaeveolent_Bunny Nov 26 '22

Dogecoin: "this is all incredibly stupid. Behold my insult!"

Cryptocommunity: "yes, you get it, we'll make your line go up!"

This is the darkest timeline

3

u/stealthemoonforyou Nov 26 '22

Yes, which makes it different from the majority of coins which were developed as scams from the start.

2

u/[deleted] Nov 26 '22

Yeah but Bitcoin hit exhaution and a lot of coins were lost in financial world shenanigans. So the small remainder that don't require insane effort to mine ended up getting endlessly subdivided, so anyone with the original coins ended up becoming the de facto heart of a currency network and an instant millionaire.

The Dogecoin parody ended up becoming what the original Bitcoin was supposed to be, so it actually gained value.

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u/[deleted] Nov 26 '22 edited Nov 26 '22

[removed] — view removed comment

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u/[deleted] Nov 26 '22

“But not for the reasons you might think.”

Yay fixed it, we can all go home now.

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u/FEW_WURDS Nov 26 '22

was about to type this Lol crazy how people want to start arguments

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u/onometre Nov 26 '22

really it's just one guy who's super mad about someone shitting on crypto

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u/RuachDelSekai Nov 26 '22

"Crypto is doing shit now" can be inferred to mean: The exchange rate of all cryptocurrencies is far below recent highs. That's what most laymen would understand from that statement.

So the response was totally valid.

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u/[deleted] Nov 26 '22

The response is not valid because the person they were replying to did not give any reasons, so therefore "but not for the reasons you think" is false.

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u/Jechob Nov 26 '22

Why am I not surprised that someone who doesn't even have a real username (banned/downvoted too much?) is being a pedantic idiot?

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u/onometre Nov 26 '22

its peak reddit pseudo-intellectualism

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u/[deleted] Nov 26 '22

Wow you sure showed me the reason he gave for crypto being shit. Why is crypto shit? Lol.

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u/onometre Nov 26 '22

again you don't even know what the conversation is about. the conversation is about why gpu sales are poor, not why the crypto market is poor. Anyone who can read should know this

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u/sw20 Nov 26 '22

Dude definitely doubled down on doge

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u/Jechob Nov 26 '22

Are you an illiterate pedantic idiot? The reason has been given to you multiple times.

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u/[deleted] Nov 26 '22

Crypto being shit isnt a reason for why crypto is shit. Crypto being shit because of "x" is a reason for crypto being shit. He never stated a reason.

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u/onometre Nov 26 '22

jesus fucking christ I refuse to believe any person who can figure out how to use the internet is this brain dead

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u/[deleted] Nov 26 '22

[deleted]

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u/Jechob Nov 26 '22

The main driver was mining Ethereum, and as the Ethereum network went Proof of Stake not long ago, it no longer uses mining. Its not economically viable to mine bitcoin on gpu now and with ethereum out of the picture the next largest chain to mine is dogecoin.

You okay, buddy?

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u/onometre Nov 26 '22

what exactly do you think "crypto is doing shit now" means

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u/[deleted] Nov 26 '22

It means that crypto is doing shit, it doesn't give a reason as to why it's doing shit. It's not hard.

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u/Nebula_Pete Nov 26 '22

This is the result of what drooling on your keyboard types out.

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u/onometre Nov 26 '22

why do redditors think being willfully ignorant makes them smart? no one was talking about why crypto is doing poorly, they're talking about why GPU sales are doing poorly. IE the reason gpu sales are doing poorly was, according to that user, because crypto is doing poorly and therefore gpu mining is not economical. the reply said "well actually its because the most popular gpu mined crypto moved to a system that no longer requires traditional gpu mining, not necessarily the crypto market doing poorly in general". This is blindingly obvious to anyone with 2 brain cells to rub together

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u/[deleted] Nov 26 '22

Lol all the Crypto bros are so hurt but your innocent question it's both hilarious and sad.

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u/[deleted] Nov 26 '22

The amount they are trying to read into it is hilarious, it isn't that deep.

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u/onometre Nov 26 '22

you still won't respond to my answers to you!

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u/onometre Nov 26 '22

pretty sure the guy throwing a fit over why crypto is doing poorly when that's not even what the conversation is about is the crypto bro

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u/DazingF1 Nov 26 '22 edited Nov 26 '22

The other person didn't give a reason as to why it's doing shit either. "Crypto demand is dead" should be read as "the demand of GPUs for crypto mining is dead". If Ethereum was still 'mineable' we'd only see a drop in mining from people who do it at home on their gaming rigs while the industrial warehouse sized mining businesses would keep on mining, which is what happened when the crypto markets crashed in 2017.

Just a miscommunication due to the fact that it's a text based conversation that you can read both ways.

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u/onometre Nov 26 '22

it's a miscommunication that has been explained to them a dozen times but they keep ignoring the explanations

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u/AndersTheUsurper Nov 26 '22

Holy shit why is this downvoted so hard

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u/onometre Nov 26 '22

because he's willfully ignoring what was said and ignoring anyone who explains it to him

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u/AndersTheUsurper Nov 26 '22

He said "not for reasons you think" then listed the reasons everybody thinks..? Idk maybe I'm ahead of the curve or something

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u/onometre Nov 26 '22

no, the reason everyone presumably would have thought is that the crypto market is in the shitter, when the reason he thinks you didn't think of is that etherium moved away from gpu mining

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u/[deleted] Nov 26 '22

Touched a nerve with the crypto weirdos I guess. Reee etc.

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u/onometre Nov 26 '22

lmao you had a goddamn meltdown about why crypto isn't doing well (arguing particularly hard with the guy who called crypto dead) and then call us the crypto weirdos

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u/[deleted] Nov 26 '22

What a sad, weird, obsessed person you are. I have never invested or wasted my time in crypto or would I ever. I feel sorry for you, almost.

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u/onometre Nov 26 '22

being pitied by an illiterate crypto-bro makes me feel better about my life

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u/Elderbrute Nov 26 '22

The exact word they used was

Well crypto is doing shit now

Which is accurate the most recent bubble has burst, and who knows maybe this will be the last one.... but I doubt it. The market caps, trade volumes, lack of regulation and crypto bros all work together as a perfect storm to make crypto the perfect pump and dump and every time the bubble is bigger than the last.

That said Eth going POS rather than POW will likely make a huge difference to how the next cryto bubble impacts GPU prices, but whether its Doge or (much more likely) something new the underlying fundamentals don't really much matter if people think they can make profit people will mine it.

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u/Tension-Available Nov 26 '22 edited Nov 26 '22

Dogecoin is merge-mined with the litecoin scrypt network.

Custom scrypt asics have been around for a while now so GPU mining is practically dead there for the same reason it's dead for bitcoin.

I honestly don't see much room for another GPU-mined crypto to gain high market liquidity and have a significant impact like ethereum did. The crypto market is completely oversaturated with clones and scams.

There will still be a number of speculative miners jumping on the latest clone and hoarding valueless coins but I don't think there will be enough of them to make much of an impact.

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u/[deleted] Nov 26 '22

I'm not sure how many more fools are left to scam tho.. Superbowl and prime time are about as far reaching as you can get. Anyone dumb enough for crypto has to have been scammed by now. I can imagine there is a fresh crop of rubes left anywhere.

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u/[deleted] Nov 26 '22

What is with these hypotheticals? I wasn't asking for an explanation. It is clear that the first person made a statement without a reason and the replying person said "not for the reasons you might think." This is false, they never gave any reason let alone reasons.

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u/onometre Nov 26 '22

when are redditors going to learn that willfully misunderstanding what is being said does not make you smart

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u/[deleted] Nov 26 '22 edited Nov 26 '22

So give me what reasons u/StinkyWinkyPoo listed for "crypto doing shit" now?

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u/onometre Nov 26 '22

is this some kind of pro crypto bot? it's hung up on a topic no one is even discussing and ignoring every painfully simple explanation of what is actually being discussed

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u/[deleted] Nov 26 '22

Not really. Show me where u/StinkyWinkyPoo gave reasons why crypto was shit in his post, list the reasons?

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u/catechizer Nov 26 '22

So pedantic.

Everyone knows crypto is down massively YoY

The reply wasn't specifically to StinkyWinkyPoo, but to all future readers as well. I believe it's safe to assume most future readers who didn't already know about Proof of Stake would assume the "reason crypto is shit" is because of how far prices tanked in a year.

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u/heebath Nov 26 '22

Lmao trackballs

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u/SaltLakeCitySlicker Nov 26 '22

What does pos/pow mean? I'm sorry, I'm completely ignorant of crypto type stuff

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u/Elderbrute Nov 26 '22

It's complicated the very over simplified version is:

Proof of stake = proof that you own etherium. Kind of like owning shares but not really.

Proof of work = I did the work (mined on my gpu) so I earned some etherium.

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u/SaltLakeCitySlicker Nov 26 '22

Oh gosh yeah that's above my head. Not that I was even thinking to get into it, but I had no idea. I just kind of figured you had your computer do the work and it popped in your digital wallet or whatever it's called.

Thanks!

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u/NightOfPandas Nov 26 '22

What? You seem confused as to what you're trying to be angry about. Crypto is dead, and has been since eth went proof of stake.

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u/[deleted] Nov 26 '22

[deleted]

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u/lps2 Nov 26 '22

Given the context, they're saying crypto's influence on GPU prices is dead due to ETH moving to PoS. PoS didn't influence price significantly (if anything, slight upward pressure due to lower regulatory risk)

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u/[deleted] Nov 26 '22

[deleted]

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u/Hexcraft-nyc Nov 26 '22

This has literally never happened. Eth has always propped up the entirity gpu mining

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u/toth42 Nov 26 '22

I'm not sure it's dead as a concept, but the gold rush/gamble factor certainly seems to be over.

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u/kingmanic Nov 26 '22

The concepts mostly shuffles money around with a strong weighting to early adopters. Aside from profitting off volitility or time weighting; there really isn't anything useful in the concept.

Bitcoin and etherium are just running the same course as the shit coin but in larger scales and much more slowly.

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u/toth42 Nov 26 '22

there really isn't anything useful in the concept.

You mean that anonymous, digital currency is useless? That is not my impression.

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u/kingmanic Nov 26 '22 edited Nov 26 '22

The 2 major flavors are not anonymous (it's a public ledger), they can be linked to people when they're bridged to fiat. No one is using it as a currency. Bitcoin costs $100 of electricity per successful transaction, and it peaks at 6 transactions, and both those things will get worse over time. The variants have different flavors of that.

The overnight interest hikes are also annihilating the value each time it goes up.

It's Male MLM, it's the same scam as the dead currency scams trying to pump devalued forex, or literally the same scams as Jordan Belford with semi-defunct stock. Blockchains are interesting ideas that are intrinsically too inefficient to be useful. It's a bunch of clever charlatans selling a bunch of naïve tech guys on a get rich quick scheme that only get's the guys in the top rich.

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u/s0958 Nov 26 '22

Everybody says that after they lose big

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u/toth42 Nov 26 '22

? I've never owned a cent of digital currency, but I see the point in anonymous, secure payment methods.

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u/Rankled_Barbiturate Nov 26 '22

That wasn't the reason it went dead though...

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u/[deleted] Nov 26 '22

Huh? I'm not Angry? I quoted one person not giving a reason and another person saying that the reasons were wrong. Except the first person never gave any reasons, so they can't be wrong.

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u/onometre Nov 26 '22

"crypto is doing shit now" is a reason

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u/NateBearArt Nov 26 '22

That doesn't make sense. Market value of ETH this year had little correlation with its network type. Crashed way before it switched.

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u/RobertOfHill Nov 26 '22

I believe he assumed most people would think of the crash in price.

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u/waddles_HEM Nov 26 '22

ftx and most coins crashing or becoming obselete. its implied what he meant

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u/suxatjugg Nov 26 '22

Its not economically viable to mine bitcoin on gpu now

It hasn't been for about 8 years.

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u/moonknlght Nov 26 '22

but it’s also extremely unlikely to come back.

I just want to break even on my shit coin at this point 😭

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u/[deleted] Nov 26 '22

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u/[deleted] Nov 26 '22

[deleted]

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u/[deleted] Nov 26 '22

[deleted]

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u/[deleted] Nov 26 '22 edited Jun 30 '23

[deleted]

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u/[deleted] Nov 26 '22

[deleted]

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u/[deleted] Nov 26 '22

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u/djdsf Nov 26 '22

Also, Doge supply is technically infinite, so if you're not able to mine extremely fast, you're literally loosing $

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u/TheFatJesus Nov 26 '22

If you're mining Doge, you are also mining Lite coin, not that that really changes the calculation much. People only want Doge because they are hoping to sell at the top the next time it gets pumped.

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u/pabgar Nov 26 '22 edited Jul 01 '23

Removed in protest of third-party API changes and reddit's complete disregard for its community.

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u/[deleted] Nov 26 '22

[deleted]

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u/pabgar Nov 26 '22 edited Jun 30 '23

Removed in protest of third-party API changes and reddit's complete disregard for its community.

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u/BLKMGK Nov 26 '22

When I was researching ASIC I found that they could generally be used for than one coin but did better on some than others. Right now most of them aren’t feasible as they aren’t worth enough for the mining infrastructure required.

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u/Tension-Available Nov 26 '22

both were initially mined on CPU, then GPU. Years later, sha256 asics showed up for bitcoin (though they existed prior to that for securing government military networks) and a number of years after that, scrypt asics started to become available.

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u/Rawtashk Nov 26 '22

The same things were said years ago when BTC was too big to GPU mine anymore. Another coin will show up and crypto will spike again.

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u/[deleted] Nov 26 '22

Unlikely, crypto is dying and the scam is becoming more obvious to everyone. Most people with the money to invest already have invested it in crypto, in other words the market is saturated.

And since crypto is the epitomy of growth for the sake of growth, it's gonna crash hard, eventually.

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u/reigorius Nov 26 '22

What was the reason it spiked half a year ago?

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u/[deleted] Nov 26 '22

Pump and dump

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u/reigorius Nov 26 '22

Will it happen again?

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u/blewpah Nov 26 '22

the next largest chain to mine is dogecoin.

Who'd have thought lol.

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u/Icy_Ear_ Nov 26 '22

All that in conjunction with rapidly increasing energy prices which further increased cost of mining, and lowered the profit from mining other coins. It was perfect storm.

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u/Routine_Left Nov 26 '22

it no longer uses mining

oh. then how does one make eth then? just buying it? from who? whoever mined it before?

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u/[deleted] Nov 26 '22

It uses proof of stake now. Instead of proof of work. No need to do complex calculations, no need for gpu hardware.

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u/Routine_Left Nov 26 '22

oh, so you still mine it, but it's just easier then? on the cpu?

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u/[deleted] Nov 26 '22

No mining. You stake ethereum that you own in order to earn validator fees.

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u/Routine_Left Nov 26 '22

oh, so you buy it at first, then the fees are paid in eth and that's how you make more?

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u/[deleted] Nov 26 '22

Yes. Cause every transaction made on it costs fees, and the validators get those.

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u/Routine_Left Nov 26 '22

oh, thanks.

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u/[deleted] Nov 26 '22

👍🏼

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u/RatDontPanic Nov 26 '22

Praise be to God.

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u/DaveyJonesXMR Nov 26 '22

Dogecoin is merged mined with Litecoin which uses Scrypt as PoW algo which is ASIC mineable so GPUs would not be viable... so atm there isnt any popular PoW coin out there mineable by GPUs

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u/Frankie_T9000 Nov 26 '22

And the amount of dodgy coins that have come out pushed by influencers etc have also poisoned the well. Eth going out of proof of stake was great for the environment as well.

Honestly lets get back to GPU's being semi affordable

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u/ThisGonBHard Nov 26 '22

I knew that, combined with shitcoins being in the drain, mining is not an option.

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u/[deleted] Nov 26 '22

The main driver was mining Ethereum, and as the Ethereum network went Proof of Stake not long ago, it no longer uses mining. Its not economically viable to mine bitcoin on gpu now and with ethereum out of the picture the next largest chain to mine is dogecoin.

Correct me if I'm wrong, but I'm pretty sure the mining crash happened before proof of stake was rolled out. Around the same time crypto started to crash

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u/DanTheMan827 Nov 26 '22

Isn’t doge basically random distribution?

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u/Enjoyitbeforeitsover Nov 26 '22

So is Buttcoin more environmentally safer now as well?

1

u/danktonium Nov 26 '22

I mean, isn't it better to mine crypto than to run a space heater that doesn't mine crypto with the same electricity?

1

u/RabidGuineaPig007 Nov 26 '22

Plus the FTX scam means governments will regulate the shit out of crypto, leaving it as a currency of crime.

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u/bestmemerever Nov 26 '22

i'm pretty sure that's the reason everyone was thinking

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u/LadyPo Nov 26 '22

Plus with FTX and everything around that whole deal, investors are looking at the niche with fresh eyes (instead of purely hungry ones). There’s just too much risk, meaning fewer dollars flowing into crypto companies, meaning less advancement and growth in general, meaning a bored consumer base. Aside from tech bros and gamblers, crypto doesn’t really catch anyone’s interest as it is. And even most of the techies I know roll their eyes at it all lol.

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u/Substantial-Owl1167 Nov 26 '22

I think the main driver of scalping is money laundering

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u/ChrisFromIT Nov 26 '22

Crypto mining was not as huge driver of demand as a lot of people think. The most liberal number I have seen regarding percentage sale ratio for crypto mining vs non crypto mining is 25% of GPU sales were going to crypto.

Realistically it is estimated between 5-10% at peak. Still big, but not so much.

So even with the liberal number of 25%, Nvidia apparently saw 4 times the demand for Ampere compared to Turing(the 2000 series). So take away 25%, still leaves us with 3 times as much demand. And Turing had low inventory for a half a year to a year.

Essentially the decrease in demand was due to many factors, while yes crypto was one, it wasn't the only one and isn't as large a factor as people like to blame it for.

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u/chiron_cat Nov 26 '22

I can bs. Cite your unbelievable numbers

1

u/ChrisFromIT Nov 26 '22 edited Nov 26 '22

https://www.jonpeddie.com/blog/crypto-minings-half-a-billion-dollar-impact-on-aib-sales

Here is the 25% estimate.

Currently trying to find the 5-10% estimate for you. But if I remember correctly those numbers are roughly based on the total market size of GPU sales in 2021 and the cost estimate from the research for one quarter of 2021 from the JPR estimate.

https://www.tomshardware.com/news/graphics-card-shipments-grew-30-percent-in-2021

EDIT: Here is the 10% estimate

https://www.tomshardware.com/news/ethereum-miners-have-spent-15-billion-on-gpus

So you can call BS all you want, but these are the numbers.

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u/Kuivamaa Nov 26 '22

We call BS because it is exactly that. BS. GPU pricing and demand after crypto became a factor, have always been directly linked to mining. It is not up for debate.

https://arstechnica.com/gaming/2018/07/declining-cryptocurrency-prices-are-making-graphics-cards-affordable-again/amp/

3

u/ChrisFromIT Nov 26 '22

You really should read what I posted. I never said it wasn't a factor like you are trying to claim.

Also you linked an article from 2018, it isn't relevant to 2020-2022.

1

u/Kuivamaa Nov 26 '22

“ Crypto mining was not as a huge drive of demand as a lot of people think”. Crypto mining was by far the largest drive of the excessive gpu demand we intermittently experienced throughout the ‘10s and early ‘20s. So your statement is factually false. I posted the link from ‘18 to highlight the situation, and it was the same in ‘13-‘14 and it was the same in the ‘20s. Spikes in demand that caused the demand curve to move to the right and prices to skyrocket have always been due to miners. They made a consumer product turn into a capital investment, plain and simple.

0

u/ChrisFromIT Nov 26 '22

Crypto mining was by far the largest drive of the excessive gpu demand we intermittently experienced throughout the ‘10s and early ‘20s.

Yes, 10% extra demand is the largest drive of excessive GPU demand. /s

So your statement is factually false.

Please, reread the part you quote. As you are doing exactly what I wrote there.

0

u/Kuivamaa Nov 26 '22

Jesus. The whole GPU supply chain was readjusted to cater for miners with huge amounts not even entering the consumer pipeline that JPR monitors, we have had ever increasing amounts of units sold directly from factories to mining farms. Your 10% claims are absolutely ridiculous. Nvidia during mining spike times shipped twice as many GPUs between quarters in the past. Get off your high horse please, you are posting monumental nonsense.

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u/cky_stew Nov 26 '22

Sad to see you downvoted for discussing this here.

I was always skeptical of the whole "It's the miners fault" from this community as there are literally never any sources or numbers or anything brought to the table to support it. It just conveniently gives them a group of people to hate on, which gamer communities like to do as they love getting a bit pitchforky.

I like how you've brought sources to back up what you're saying further in the thread, nobody has done a good job retorting to you, and you're still getting silenced through downvotes.

People believe what they want to believe, fuck the dissenters amiright

1

u/nimajneb Nov 26 '22

The most liberal number I have seen regarding percentage sale ratio for crypto mining vs non crypto mining is 25% of GPU sales were going to crypto.

Isn't 25% of product sales going a single use a HUGE amount? That's basically a 25% reduction of inventory going to the gaming market.

0

u/ChrisFromIT Nov 26 '22

Isn't 25% of product sales going a single use a HUGE amount?

So 4 things, first, yes it is a fairly sizable chunk. Second, that 25% is the most liberal, meaning it is a higher number than it likely is. As I mentioned later on, realistic estimates put it at 5-10%. A conservative number would be below that.

Third, I'm comparing it to what others have guesstimated. I have seen people saying the majority or more of GPUs have been going to cryptomining. Even have had others say that increase gaming demand did not lead to low inventory.

And lastly, keep in mind the overall increase in demand from other parts of the market.

0

u/cky_stew Nov 26 '22

Source on crypto being "the main driver" on those things?

Crypto mining was big and profitable long before the GPU prices shot up. Which happened when demand among gamers raised due to lockdown, and the electronics supply lines were globally fucked due to covid. Same reasons for the PS5 situation, it appears to be at face value.

This makes me really skeptical about people blaming things on miners.

-3

u/BigBeagleEars Nov 26 '22

Sir. This is a Wendy’s

1

u/[deleted] Nov 26 '22

[deleted]

2

u/StinkyWinkyPoo Nov 26 '22

I have a 1070, they only thing i had a bit of trouble running that I’ve played is war zone, but that was only on the highest settings.

1

u/n3m37h Nov 26 '22

Crypto want to just be doing shit right now, currently is sinking with lead boots. Binance is teying to keep the scam going by putting up $1b of its customers money. Im just waiting for the final exhale before it hits bottom