CryptoCurrency Mining with GPUs *spawn*

Discussion in 'Architecture and Products' started by CarstenS, Jun 1, 2017.

  1. cho

    cho
    Regular

    Joined:
    Feb 9, 2002
    Messages:
    419
    Likes Received:
    11
    The biggest risk to ETH miner is "money laundering", a lot of debit cards had been asset freezing in China .
     
  2. manux

    Veteran Regular

    Joined:
    Sep 7, 2002
    Messages:
    2,798
    Likes Received:
    1,981
    Location:
    Earth
    I guess one could take eth hashrate increase and then estimate how many gpu's are being added daily/monthly/weekly. It seems hash rate keeps going up. If one would assume all newly added hashing comes from new gpu's that would give estimate on how many new gpu's miners are buying. Likely this is not quite true but would give "worst case" for how many new gpu's miners are hording.


    upload_2021-4-3_13-24-30.png
    https://etherscan.io/chart/hashrate
     
    Lightman likes this.
  3. Rootax

    Veteran Newcomer

    Joined:
    Jan 2, 2006
    Messages:
    2,059
    Likes Received:
    1,493
    Location:
    France
    Dont forget asics for ethereum are a thing now.
     
  4. MfA

    MfA
    Legend

    Joined:
    Feb 6, 2002
    Messages:
    7,317
    Likes Received:
    671
    Bitmain can't scale their reserved fab time quickly, but GPUs are always available and good enough ... that's the problem.

    At least the Ethereum developers seem to have been scheming a bit and planned to release PoS much sooner than planned but kept it under their hats to make it harder for miners to organize revolt (or hire hitmen for that matter, these kinds of markets don't attract the nicest of people). GPUs are likely to become very cheap indeed sometime this year if the Ethereum mining market crashes with no survivors.
     
    #1044 MfA, Apr 7, 2021
    Last edited: Apr 7, 2021
    Lightman and Kyyla like this.
  5. entity279

    Veteran Regular

    Joined:
    May 12, 2008
    Messages:
    1,289
    Likes Received:
    471
    Location:
    Romania
    With Bitmain it's never that simple. They seem to have surprising leverage on the Chinese-based manufacturing plants at least.
    But they benefit from selling a limited number of ASICs to their customers. If they've sold more, they would need to reduce the sale price as the profit one unit brings will diminish. And again, Bitmain being Bitmain, it's very likely they keep part of the hardware for themselves
     
    Lightman likes this.
  6. A1xLLcqAgt0qc2RyMz0y

    Veteran Regular

    Joined:
    Feb 6, 2010
    Messages:
    1,574
    Likes Received:
    1,439
    The idea that POS is coming soon in 2021 is not from Ethereum developers but from Ethereum Financial Investors.
     
  7. Scott_Arm

    Legend

    Joined:
    Jun 16, 2004
    Messages:
    14,761
    Likes Received:
    6,896
    Proof of stake sounds pretty interesting as a concept. Crypto mining never made much sense to me in terms of scaling and energy efficiency.
     
  8. MfA

    MfA
    Legend

    Joined:
    Feb 6, 2002
    Messages:
    7,317
    Likes Received:
    671
    The investors might embellish the odds of it happening, but there's been some major rumblings among devs recently ... including mentioning a 2021 merge.

    Not making it dependent on sharding is a huge change which will have spooked the miners.
     
    #1048 MfA, Apr 8, 2021
    Last edited: Apr 8, 2021
    Lightman likes this.
  9. pcchen

    pcchen Moderator
    Moderator Veteran Subscriber

    Joined:
    Feb 6, 2002
    Messages:
    2,906
    Likes Received:
    409
    Location:
    Taiwan
    That's true, but to be fair it has to start somewhere. At the very beginning of the Bitcoin idea, people wouldn't trust a PoS system. It probably has to start as a PoW system.
    Even today with some large semi-PoS system such as Tron or BSC, there are many people claiming that "Tron is completely controlled by Justin Sun (its founder)" or "BSC is completely controlled by Binance" etc. This shows that it can be hard to won some people's trust.
    The ETH 2.0 PoS system is, of course, likely to be much more decentralized than both Tron or BSC. How well it'll work remains to be seen, of course, but I hope it goes well so we can all have a very decentralized yet cheap to use system.
     
    Lightman likes this.
  10. Scott_Arm

    Legend

    Joined:
    Jun 16, 2004
    Messages:
    14,761
    Likes Received:
    6,896
    @pcchen people building 1500W mining rigs at home because energy is cheap (if you ignore climate change) just was always a non starter for me in terms of supporting crypto. I’m definitely going to follow eth2 and see how it goes. I have a small fraction of ETH just from figuring out how mining works (not that interesting to set up). It’s really more the financial side that’s complex and interesting. I was able to get around 96 gash rate on my 3080 at 70% power limit keeping memory junction temp at 92-94. I’m still sceptical about the life of my gpu doing that long term, so on top of my bias against proof of work in general I didn’t find mining interesting enough to keep going.
     
  11. entity279

    Veteran Regular

    Joined:
    May 12, 2008
    Messages:
    1,289
    Likes Received:
    471
    Location:
    Romania
    PoS has a lower barrier of entry, but it's also relatively simple to own a large part of the of the stake - just buy more coin

    With PoW otoh it becomes increasingly difficult to increase one's share because it would always need to be backed by physical footprint (land, buildings, infrastructure, personnel)
     
  12. Scott_Arm

    Legend

    Joined:
    Jun 16, 2004
    Messages:
    14,761
    Likes Received:
    6,896
    yah I’m guessing the worry is people buying up large stakes and lowering decentralization.
     
  13. BRiT

    BRiT (>• •)>⌐■-■ (⌐■-■)
    Moderator Legend Alpha

    Joined:
    Feb 7, 2002
    Messages:
    18,808
    Likes Received:
    21,130
    Lightman, pharma and manux like this.
  14. manux

    Veteran Regular

    Joined:
    Sep 7, 2002
    Messages:
    2,798
    Likes Received:
    1,981
    Location:
    Earth
    pharma, DegustatoR and Lightman like this.
  15. eastmen

    Legend Subscriber

    Joined:
    Mar 17, 2008
    Messages:
    12,442
    Likes Received:
    3,382
    The amount of energy I use at home for mining is just a fart in the wind to climate change. In fact some of my mining is powered by our solar setup. Your video card wont die quicker with your memory junction temps at 92-94. At default settings while gaming my MJT will hit 108 on my 3080. So me getting my MJT down to 90ish will be fine.

    For me I mine on a 3080/ vega 56 rig and since I restarted at the beginning of February have pulled in $750 to my wallet and have another 167.85 pending a payout (hive os pays out when you get to .1 eth and I'm at .08131 right now) My vega 56 was purchased launch day what 3 or 4 years ago now ? I forget when they released for $375. I got my money's worth and my wife has been using it since i upgraded as it was better than the 2300g intergrated gpu. My 3080 cost me $800 after shipping back in Nov so I've already paid for the card if something was to go wrong. We actually just bought a 3070 from microcenter for $800 yesterday. I expect with the 3 cards mining that it will be paid off by some point in June. I think I will have roughly 200MH/s of power. Should be good for roughly $15 after power a day. Or $450 every 30 day span. I still game on my 3080 and my wife will game on the 3070 (she games a lot less) so It may be a little less than that depending on how much i am able to game. But to us thats fine and if it goes up it will be even better.

    I think your leaving a lot of money on the table that the gpu could be making you
     
    Man from Atlantis likes this.
  16. Scott_Arm

    Legend

    Joined:
    Jun 16, 2004
    Messages:
    14,761
    Likes Received:
    6,896
    @eastman Each individual's share of the power is not really the problem to me, it's the aggregate, and the fact that most crpto doesn't scale well. The bigger the blockchain, the harder it is to mine, so you have to throw more and more power at the problem. I'm not an expert on the subject, but I know global power consumption for crypto is immense. I believe i read something that said Bitcoin was equal to the power consumption of Austria. My individual gpu is not going to be the straw that broke the camel's back, but I just didn't have interest in something that didn't seem to have interested in scaling efficiently. It's true that not all energy is equal though. If you're on renewable energy or nuclear, it's a different story than if you're energy comes from coal or natural gas.
     
  17. eastmen

    Legend Subscriber

    Joined:
    Mar 17, 2008
    Messages:
    12,442
    Likes Received:
    3,382
    If you apply that logic across everything in your life you will live in a small log cabin with no power or heat and no electronic devices of any kind. Good luck
     
  18. MfA

    MfA
    Legend

    Joined:
    Feb 6, 2002
    Messages:
    7,317
    Likes Received:
    671
    I'm relatively certain a zero sum investment bubble, increased power consumption, diversion of GPUs and a massive increase in malware has not had a positive impact on median standards of living.

    At least with PoS the malinvestment in electrical power and GPUs goes away.
     
    #1058 MfA, Apr 8, 2021
    Last edited: Apr 8, 2021
    Putas, Lightman, CeeGee and 3 others like this.
  19. orangpelupa

    orangpelupa Elite Bug Hunter
    Legend Veteran

    Joined:
    Oct 14, 2008
    Messages:
    9,229
    Likes Received:
    2,538
    Can I run it in a vm? Does the performance hit a lot?
     
  20. Scott_Arm

    Legend

    Joined:
    Jun 16, 2004
    Messages:
    14,761
    Likes Received:
    6,896
    Yah, if I were ever to start again I'd want to do some more research on best practices. Either a bootable linux usb (could I undervolt) or a secured VM would be nice. For windows 10 mining I'm thinking even a separate account without admin privileges might be a good idea, but probably couldn't undervolt with afterburner in that case. Just not sure how safe mining software is if you're using the PC as a multi-purpose machine.
     
    orangpelupa likes this.
Loading...

Share This Page

  • About Us

    Beyond3D has been around for over a decade and prides itself on being the best place on the web for in-depth, technically-driven discussion and analysis of 3D graphics hardware. If you love pixels and transistors, you've come to the right place!

    Beyond3D is proudly published by GPU Tools Ltd.
Loading...