The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[CuriousMike]

LOL. Show me ONE "gamer", that actually WANTED a RX 5700 to just game on, and not mine.

Raises hand.

 

[VirtualLarry]

Raises hand.

Well, I sold off two of mine, sorry, should have gotten in line I guess.

 

[Mopetar]

So it acts more like the stock market than a currency?

Commodity is the best way to look at it. Before cryptocurrency gold was treated in much the same way and people invested as a hedge against inflation. It could also be used as a means of payment, but not one that was widely accepted so you had to deal with exchanges a lot.

If they found mining to be therapeutic by process of psychological testing then yes, but since I doubt anyone has verified it (let alone tested it) I would say it is different, come back with that argument once it has been tested and verified. There are people who enjoy depriving others of entertainment or stress relief... that's miners for you.

Deriving your pleasure at the expense of someone else may violate their rights. If you really like punching people in the face join a boxing club where people all voluntarily participate.

If someone does enjoy mining for its own sake or as a hobby it isn't any different than gaming. One doesn't need to mine just to be able to buy up cards so that others couldn't have them. If that were the case they'd probably get more enjoyment of setting fire to the cards in front of the people who don't have them than they would mining with them.

 

[MrTeal]

A worldwide ban on mining is what's needed. Miners should be thrown in prison for a mandatory sentence of one year per GPU they have in their rigs and farms. I do mean thrown, as in literally.

Impossible, they're holding all their GPUs and are thus much too massive for even a team lift, let along throwing them.

 

[Carillon]

turn mining into a religion, become untouchable

 

[Mopetar]

turn mining into a religion, become untouchable

With the way some people talk about cryptocurrency I'd say it's already halfway there.

 

[beginner99]

Meanwhile not a peep over the rise of authoritarian nationalists worldwide.

don't you see the irony in this? the PC/porgressive/green movement is only different in what opinions are allowed and which are not. Like saying poor women aren't just victims and there is no such thing as a wage gap is hardly possible anymore without getting "cancelled". Or only solar and wind is allowed. nuclear is bad too. This is an authoritarian movement. only their opinion is right and everyone else is wrong. Soon your bank accounts will get blocked if you say something that is interpreted as negative about women or minorities.

 

[moonbogg]

P&N is down the hall ---->

Yep, that's the way. Last door on his right.

 

[GodisanAtheist]

This thread is like a mini-primer of the foundation of all modern economic theory: scarcity of resources.

I hope for a beautiful utopic future where crypto and gaming can coexist. I don't want the miners not to be able to mine, I just want gamers to have enough hardware at their disposal too.

Lets put some infrastructure spending into replicator research and alchemy...

 

[Mopetar]

Assuming you're willing to mine on a card when you aren't gaming, the initial cost to a gamer is somewhat irrelevant since it can be recouped if given sufficient time.

The issue is just being able to buy a card in the first place without having to jump through a lot of hoops. Retailers need to adjust how they sell cards in order to ensure that they are sold to more people and that those people don't have an incentive to scalp their purchase.

This isn't difficult to do, but people who don't want to accept the reality of the situation will incessantly complain if anyone were to implement such a policy even though the reality is that they won't get a card at MSRP and they end up paying the same amount to a scalper anyway.

 

[blckgrffn]

Well, I sold off two of mine, sorry, should have gotten in line I guess.

Don't feel too bad - how much did you get for them? (if you care to share)

6600's are available for ~$460 all day every day right now and it's right there between the 5700 & 5700XT and are brand new and full RDNA2.

Assuming you're willing to mine on a card when you aren't gaming, the initial cost to a gamer is somewhat irrelevant since it can be recouped if given sufficient time.

The issue is just being able to buy a card in the first place without having to jump through a lot of hoops. Retailers need to adjust how they sell cards in order to ensure that they are sold to more people and that those people don't have an incentive to scalp their purchase.

This isn't difficult to do, but people who don't want to accept the reality of the situation will incessantly complain if anyone were to implement such a policy even though the reality is that they won't get a card at MSRP and they end up paying the same amount to a scalper anyway.

Eh, mining is not something everyone wants to do.

It costs money in electricity (really) and adds hours to your computing equipment which is unpalatable for some. Profits are real but if you are playing above board you are going to be dealing with a more advanced tax process here in the states. I'd expect the IRS to really step up with that and their changes to the the 1099-K thresholds it's going to be just another wrinkle to keep track of.

I'd argue you could just buy some crypto, if it works out you cash out and then use the profits to buy a card and it would be a more simple transaction and you'd know that you're actually spending house money when you buy it.

You know, however you accomplish that buying part

 

[MrTeal]

This thread is like a mini-primer of the foundation of all modern economic theory: scarcity of resources.

I hope for a beautiful utopic future where crypto and gaming can coexist. I don't want the miners not to be able to mine, I just want gamers to have enough hardware at their disposal too.

Lets put some infrastructure spending into replicator research and alchemy...

Alternately, a distributed version of GeForce Now where a gamer can rent time on a miner's hardware.

 

[blckgrffn]

Alternately, a distributed version of GeForce Now where a gamer can rent time on a miner's hardware.

I'd even run a server for that for my friends, if that were a thing.

 

[VirtualLarry]

Alternately, a distributed version of GeForce Now where a gamer can rent time on a miner's hardware.

As long as the "GPU Host" gets paid somehow, I'd totally be down with that.

 

[Fanatical Meat]

don't you see the irony in this? the PC/porgressive/green movement is only different in what opinions are allowed and which are not. Like saying poor women aren't just victims and there is no such thing as a wage gap is hardly possible anymore without getting "cancelled". Or only solar and wind is allowed. nuclear is bad too. This is an authoritarian movement. only their opinion is right and everyone else is wrong. Soon your bank accounts will get blocked if you say something that is interpreted as negative about women or minorities.

Wut?

 

[Insert_Nickname]

Assuming you're willing to mine on a card when you aren't gaming, the initial cost to a gamer is somewhat irrelevant since it can be recouped if given sufficient time.

No. Not always. I'd loose money, even at the pre-slump rates, if I attempted to mine. Electricity costs money. A lot of money currently. Here electricity prices have gone up 330% since last spring.

Just be glad if you have the option to offset costs by mining. Not all do.

 

[Mopetar]

Here electricity prices have gone up 330% since last spring.

That's pretty wild.

 

[AdamK47]

Bitcoin / ETH prices are going up right now. This is one instance where I'm glad cryptocurrency isn't uncorrelated to broader markets.

 

[ElFenix]

Moving this to OT because it's not really related to the technical aspects of graphics cards.

AT Moderator ElFenix

 

[waffleironhead]

I should have figured out how to unload my .05btc i have sitting somewhere before this crash.
Always think I should spend some time on it, but never really care enough.

 

[ultimatebob]

It looks like this topic finally got demoted out of the video card forum. I blame Larry

 

[ultimatebob]

Crypto seems to be rebounding, by the way. Ethereum didn't fall enough in price to really impact mining, so it looks like the GPU scalpockolypse continues.

 

[sdifox]

LOL. Show me ONE "gamer", that actually WANTED a RX 5700 to just game on, and not mine. That was like the most totally overlooked card of that generation.

All the cool gamers, want 3000-series NVidia cards, for DLSS, and "RTX ON".

I have a RX 5700XT and have never mined. I have about ten games installed. I got lucky though, bought the parts in Nov 2019 all at msrp.

 

[MrSquished]

No doubt your relational behavior with respect to financial investment has made your life considerably better. Unfortunately, most people just don't function that way. Evolution really didn't wire us for it and humans are still in the process of adapting to the world and society that we now live in.



Minimum wage laws are counter-productive. The real minimum wage is always $0 which is what you'll get paid if there's an artificial floor preventing you from selling your labor at any cost below that point. Since Denmark has come up, they're one of the countries that doesn't have a mandated minimum wage. They do have pretty good trade unions that actually take care of their workers.

Of course if you were in a deflationary system you'd probably never get a raise outside of some actual promotion or switching to a higher paying job. Like I've said, as long as it's a small effect, it doesn't really matter since everything will adjust around it. The world will keep on working fine though.

The world isn't working fine so how do you think it will keep working fine?

Fascinating

 

[Roger Wilco]

I really wanted a 5700xt (purely for gaming), but I didn't want to wait for a non-blower card. AMD's reference cooler seemed really awful based off reviews.

The 2060 S reference card had sufficient cooling and noise levels, so I settled for that. The RT cores are still pretty useless, but the tensor cores have proven to be actually useful.