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Solved! Nvidia sells $30 million worth of "mining GPUs" to a single company.

How do you feel about Nvidia selling all their GPUs to big mining operations instead of to gamers?

  • Nvidia is a backstabbing, lying sack.

    Votes: 27 56.3%
  • I don't care. Screw it.

    Votes: 21 43.8%

  • Total voters
    48

moonbogg

Lifer
Jan 8, 2011
10,194
2,021
126

Wow. I guess that says it all. Try and tell me none of those GPUs could have been used for gaming cards. Even miners are sounding pissed about this in a video I watched. They feel like they don't have a chance to buy cards either, lol. This mining business is much bigger now than gamers and small-scale miners alike. It's basically a corporate thing now as far as where GPUs will be going for a long time it seems. How will this effect gamers getting cards you guys think?
 

Mopetar

Diamond Member
Jan 31, 2011
6,167
3,000
136
Of course nVidia sold the mining cards to miners, that's the whole point. That's 30 million dollars that's not chasing gaming GPUs now.
Mining doesn't work that way. Since the ROI is so good right now it creates a feedback loop where you buy GPUs to mine to be able to buy more GPUs.

Assuming this $30 million even represents a sizable part of the market (which it doesn't) then at most it buys a few months reprieve before they earn their $30 million back and use it to buy more GPUs.
 

coercitiv

Diamond Member
Jan 24, 2014
4,543
6,255
136
That's 30 million dollars that's not chasing gaming GPUs now.
The greatest trick Nvidia ever pulled was convincing gamers that mining GPUs would stop the hunger for gaming GPUs.

Read the news again. A mining company bought $30M worth of GPU as their step to DIVERSIFY into new coins. Their main mining operation until recently was Bitcoin, hence ASIC based. They're expanding.

Press F.
 

moonbogg

Lifer
Jan 8, 2011
10,194
2,021
126
Nvidia's quarterly revenue was $5bn last time they reported: https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-fourth-quarter-and-fiscal-2021 This deal is less than 1% of one quarter for them.
It simply demonstrates how screwed gamers are when it comes to their chances to get a card. $30 million worth of GPU sales have gone to a single customer. Gamers are trying to compete for GPUs with people like this. It's not normal. Usually, gamers compete with other gamers and regular businesses who buy GPUs for work or for play. Once those people buy a GPU, they are done. Mining operations are a new demand for GPUs and they don't have a certain number of workstations to fill and then they are done. They will fill as many warehouses as they can with as many GPUs as they can. More GPUs = more money, so like Jensen said himself, the more you buy the more you save! It's literally true in this case. I honestly can't say I blame Nvidia or anyone else involved. It's money. It is what it is. Still, screw them all though.
 

VirtualLarry

No Lifer
Aug 25, 2001
51,900
6,870
126
Yeah it sucks. I saw a [BrandonCoin][YT] video, and he estimated that that company paid $1200-1300 PER GPU. For what was probably either a GTX 1660 Super/Ti, RTX 2060, or RTX 3060ti-equivalent "CMP" card.

It really make you wonder, kind of, what kind of estimated revenue projections that those BIG companies make, when mass-buying $30Mil USD (!) worth of "CMP" GPUs.

When individual miners are questioning whether purchasing a SINGLE GPU at those sort of prices is worth it, "will it make ROI".

Is there some calculation that these big companies see for ETH and other Altcoins, that the simple "home miner" doesn't see, isn't talked about on YT? Like $100K USD per ETH soon or something? Or a seismic shift away from the USD and onto Crypto-currency?

Some not-understood part of EIP-1559 (making ETH more valuable, by burning "BASEFEE")? Some insight that hasn't been publically-discussed, about Proof-of-Work continuing on?

I mean, I really wonder, as an individual miner, I sort of believe that I'm seeing the "writing on the wall" with EIP-1559 and PoS / ETH 2.0 coming out.

Then again Conflux/Octopus mining (With Nicehash, at least) has started to (for some cards) nearly match or exceed returns from ETH mining. At least briefly.

So, possibly, this "Hut 8" group, might be seeing the possibility of another PoW / mineable Altcoin come to the fore-front.

Or maybe, it's just a huge gamble, with capital. Not like the whole Crypto-currency space isn't risky, as it is, even "home mining", to a smaller extent. (Again, buying cards at inflated prices, and "will I make ROI", and then "will I make profit after electric, if this all crashes down or PoW on ETH ends".)
 
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killster1

Diamond Member
Mar 15, 2007
5,916
376
126

Wow. I guess that says it all. Try and tell me none of those GPUs could have been used for gaming cards. Even miners are sounding pissed about this in a video I watched. They feel like they don't have a chance to buy cards either, lol. This mining business is much bigger now than gamers and small-scale miners alike. It's basically a corporate thing now as far as where GPUs will be going for a long time it seems. How will this effect gamers getting cards you guys think?
are you communist? should you have any say in what someone else does with their own things? I think thats great, if you just turned into a pc gamer today aww so sad you cant buy a gpu, if your gpu just died recently man does that suck, but this is a free world right?
 
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killster1

Diamond Member
Mar 15, 2007
5,916
376
126
Yeah it sucks. I saw a [BrandonCoin][YT] video, and he estimated that that company paid $1200-1300 PER GPU. For what was probably either a GTX 1660 Super/Ti, RTX 2060, or RTX 3060ti-equivalent "CMP" card.

It really make you wonder, kind of, what kind of estimated revenue projections that those BIG companies make, when mass-buying $30Mil USD (!) worth of "CMP" GPUs.

When individual miners are questioning whether purchasing a SINGLE GPU at those sort of prices is worth it, "will it make ROI".

Is there some calculation that these big companies see for ETH and other Altcoins, that the simple "home miner" doesn't see, isn't talked about on YT? Like $100K USD per ETH soon or something? Or a seismic shift away from the USD and onto Crypto-currency?

Some not-understood part of EIP-1559 (making ETH more valuable, by burning "BASEFEE")? Some insight that hasn't been publically-discussed, about Proof-of-Work continuing on?

I mean, I really wonder, as an individual miner, I sort of believe that I'm seeing the "writing on the wall" with EIP-1559 and PoS / ETH 2.0 coming out.

Then again Conflux/Octopus mining (With Nicehash, at least) has started to (for some cards) nearly match or exceed returns from ETH mining. At least briefly.

So, possibly, this "Hut 8" group, might be seeing the possibility of another PoW / mineable Altcoin come to the fore-front.

Or maybe, it's just a huge gamble, with capital. Not like the whole Crypto-currency space isn't risky, as it is, even "home mining", to a smaller extent. (Again, buying cards at inflated prices, and "will I make ROI", and then "will I make profit after electric, if this all crashes down or PoW on ETH ends".)
if you have enough cards you can be your own pool and finish more and claim the whole thing right? I know i always had to join some other pool as a individual miner.
 
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CP5670

Diamond Member
Jun 24, 2004
4,917
253
126
I've read that the biggest players in mining own numerous warehouses in China, Russia, etc. and make $billions per year at this point. $30 million for a future investment is nothing for them.

I wonder what they will do after the ETH POS change. We could see all the cards dumped on ebay in a fire sale.
 
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killster1

Diamond Member
Mar 15, 2007
5,916
376
126

[TechYesCity][YT]

Smaller PC retailers even going out of business due to lack of access to GPUs. "This is far WORSE than we saw during 2017-2018".
i like how you ignored my question :) also how do you know the reason small PC business's are going under? (is it different then the other 1 trillion other small businesses going under due to pandemic and no one shopping retail stores? ( you are one of them? where is this information coming from my google search netted zero results


i am also confused the point of the video you posted.. random guy buying pc parts OK?
 
Last edited:
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moonbogg

Lifer
Jan 8, 2011
10,194
2,021
126
I wonder if some people/entities will mine despite a drop in coin value for the chance coins will simply be valuable in the future. Getting in now with a lot of coin could be considered getting in early still provided you get enough to be worth it. I don't know how digital currency could ever become a truly big deal if the only way to get it is to buy tons of expensive GPUs. It's basically a currency for the rich, and they already have a lot of regular currency anyway.
 
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IntelUser2000

Elite Member
Oct 14, 2003
7,592
2,450
136
Is there some calculation that these big companies see for ETH and other Altcoins, that the simple "home miner" doesn't see, isn't talked about on YT? Like $100K USD per ETH soon or something? Or a seismic shift away from the USD and onto Crypto-currency?
I'd guess not. How many companies disappeared overnight in the 2001 stock market crash?

FOMO affects more than just individuals. They may never make their investment back, but they'll spend until the inevitable happens.

I do think while EIP-1559 will lower GPU prices, the inflated pricing in general will continue.

The greatest trick Nvidia ever pulled was convincing gamers that mining GPUs would stop the hunger for gaming GPUs.
The new line just means more revenue opportunities that's all.
 

Fallen Kell

Diamond Member
Oct 9, 1999
5,659
247
106
I wonder if some people/entities will mine despite a drop in coin value for the chance coins will simply be valuable in the future. Getting in now with a lot of coin could be considered getting in early still provided you get enough to be worth it. I don't know how digital currency could ever become a truly big deal if the only way to get it is to buy tons of expensive GPUs. It's basically a currency for the rich, and they already have a lot of regular currency anyway.
Actually it is more like it is a currency for the idiots. It only has value because someone else thinks it has value. But that value is fleeting because intrinsically, it's only value is because it is supposedly rare (i.e. artificial scarcity). Since there is no such thing as a lack of numbers in a digital file, as others will just create another set (which is why there are already dozens of various "coins" each with someone else deciding that they should have the first several thousand of them before "releasing them" to be mined by others). All it is doing is creating a massive load on the power grids of the world and network bandwidth of the internet, with the real winners the graphics card companies and local power companies, especially once things crash (and they will crash at some point, especially if China or Russia or the USA decide that it is being used to support illegal activities, which it is, and especially if it starts to be seen as a way around the price controls that the various nations have in place on their currencies).
 

killster1

Diamond Member
Mar 15, 2007
5,916
376
126
I wonder if some people/entities will mine despite a drop in coin value for the chance coins will simply be valuable in the future. Getting in now with a lot of coin could be considered getting in early still provided you get enough to be worth it. I don't know how digital currency could ever become a truly big deal if the only way to get it is to buy tons of expensive GPUs. It's basically a currency for the rich, and they already have a lot of regular currency anyway.
you high? (wish i was) you can change your pennies and nickels for bitcoin at the grocery store, you can buy bitcoin with paypal. what makes you think the only way to get them is mining? what they are perfect for is blackmarket goods.. who wants to send 20k in the mail and risk it being nabbed.
 
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amenx

Platinum Member
Dec 17, 2004
2,872
639
136
I've read that the biggest players in mining own numerous warehouses in China, Russia, etc. and make $billions per year at this point. $30 million for a future investment is nothing for them.
Yep, makes one sick to the stomach watching operations on this scale:

 
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ultimatebob

Lifer
Jul 1, 2001
24,195
1,827
126
I've read that the biggest players in mining own numerous warehouses in China, Russia, etc. and make $billions per year at this point. $30 million for a future investment is nothing for them.

I wonder what they will do after the ETH POS change. We could see all the cards dumped on ebay in a fire sale.
There's an "In Soviet Russia, cryptocurrency mines YOU!" joke in there somewhere :)

My hunch is that people will just switch to a different cryptocurrency to mine. Hell... Nicehash's older software automatically switched to the most profitable miner for you.

Who knows, maybe Nimiq will finally arrive on the scene and take over. I doubt it, though.
 

beginner99

Diamond Member
Jun 2, 2009
4,855
1,247
136
It simply demonstrates how screwed gamers are when it comes to their chances to get a card
SO true. Ihave given up even trying and really banging me head against the wall that in decemeber I didn't get a 3060 ti at reasonable $500 which back then I thought was a rip-off. lol. OK, I don't 100% need a new one so mostly hoping the old one lasts another year or else my whole desktop becomes useless (zen2, no igpu).
 
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beginner99

Diamond Member
Jun 2, 2009
4,855
1,247
136
and they will crash at some point, especially if China or Russia or the USA decide that it is being used to support illegal activities,
The real danger is China completely banning mining. That's where most of it happens. Bitcoin isn't anonymous. Only anonymous currency is monero (as far as we know). FBI has tools that even bitcoin scramblers won't help against. eg. the block chain is perfect digital record for the FBI (and other 3-letter orgs) to track everything without warrants. Yeah, if you buy some drugs for your own fun from a dark market, that is technically illegal and you could easily be tracked. But FBI doesn't care about such minor things. They want the big fish. Hence why monero is the defacto standard in dark markets nowadays.

In fact the complete lack of privacy is a huge issue for bitcoin or ethereum. Would be easy for anyone you paid once to trace back transactions and see how much money you own. Eg. the ehererum dream of not needing banks is simply not possible as long as it doesn't offer anything in regards to privacy.
 

killster1

Diamond Member
Mar 15, 2007
5,916
376
126
The real danger is China completely banning mining. That's where most of it happens. Bitcoin isn't anonymous. Only anonymous currency is monero (as far as we know). FBI has tools that even bitcoin scramblers won't help against. eg. the block chain is perfect digital record for the FBI (and other 3-letter orgs) to track everything without warrants. Yeah, if you buy some drugs for your own fun from a dark market, that is technically illegal and you could easily be tracked. But FBI doesn't care about such minor things. They want the big fish. Hence why monero is the defacto standard in dark markets nowadays.

In fact the complete lack of privacy is a huge issue for bitcoin or ethereum. Would be easy for anyone you paid once to trace back transactions and see how much money you own. Eg. the ehererum dream of not needing banks is simply not possible as long as it doesn't offer anything in regards to privacy.
so how again is it traceable? If i mine with a proxy (or buy bitcoins), then divide my wallet to multiple wallets using a diff one for each transaction its all traced easilY?
 

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