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Crypto Miners once again responsible for shortage of Nvidia GPUs

maldorf

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New financial analysis suggests the Nvidia RTX 3000 ongoing shortages could be pinned on crypto miners - NotebookCheck.net News


"All those scalpers we have been hearing about may actually turn out to be crypto miners hoarding the new RTX 3000 cards for Ethereum mining farms. Analysts somehow discovered that Nvidia has already sold $175 million worth of RTX 3000 cards and most of these sales were made directly to crypto miners. "

None of the stores or even Amazon has any. Its nuts. Those crypto miners somehow get direct access to the company. There is a dude around here that has a big warehouse full of mining pcs. He ordered I think it was around 500 GPUs all at once, each cost about $800. Sounds like those guys are at it again. The problem isnt going to end anytime soon!


" We are also hearing that AMD’s new RDNA2 cards are not really that better compared to the RDNA1 RX 5700 XT models launched back in mid-2019, plus the incoming Nvidia RTX 3060 Ti is said to be faster than the RX 6900 XT from AMD. This could redirect gamers towards Team Red’s new RDNA2 cards in the coming months, provided that the RX 6000 supply issues get fixed in the meantime. Nvidia fans, on the other hand, may be left with a fat lip, as even the RTX 3070 and RTX 3060 models that were touted to have more plentiful supplies could get scalped by miners. "
 

Blazed_Noob

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Sigh....I'll never get one at this rate. I refuse to pay what some of these resellers are selling them for.
 

maldorf

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Sigh....I'll never get one at this rate. I refuse to pay what some of these resellers are selling them for.
Yeah, I was just looking and on Amazon they are selling a RTX 3090 for about $1800, its supposed to cost under $700. People are paying it!

I want to build a new pc this spring or summer. I may just end up waiting now. Hopefully this crap ends. The cards are literally selling out in minutes. I notice that the companies like Dell have no issues getting them for their PCs that they sell. They must have first call on them. Frustrating. People buy them and then sell them for 3x their worth.

How long will graphics cards be sold out for in 2021? - GameRevolution
 

Blazed_Noob

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Yeah, I was just looking and on Amazon they are selling a RTX 3090 for about $1800, its supposed to cost under $700. People are paying it!

I want to build a new pc this spring or summer. I may just end up waiting now. Hopefully this crap ends. The cards are literally selling out in minutes. I notice that the companies like Dell have no issues getting them for their PCs that they sell. They must have first call on them. Frustrating. People buy them and then sell them for 3x their worth.

How long will graphics cards be sold out for in 2021? - GameRevolution

Yes. It is very annoying. I kinda want one of the new Asus rog 30 series laptops that are coming out. Interested in how well they will perform.

You are smarter then I, I was impatient and built my pc earlier when I should have waited
 

Matsuo Munefusa

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Yeah, I was just looking and on Amazon they are selling a RTX 3090 for about $1800, its supposed to cost under $700. People are paying it!

I want to build a new pc this spring or summer. I may just end up waiting now. Hopefully this crap ends. The cards are literally selling out in minutes. I notice that the companies like Dell have no issues getting them for their PCs that they sell. They must have first call on them. Frustrating. People buy them and then sell them for 3x their worth.

How long will graphics cards be sold out for in 2021? - GameRevolution
First. World. Problem.
 

maldorf

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It’s pretty straight forward and I made it in 3 words.
My question to you is, why did you find it necessary to post that on my thread? What was the purpose?
 

maldorf

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Cards still all sold out and no end in sight. First time it has lasted this long. Its been like this for almost 1 year. Scalpers selling them on Amazon for 2x the retail or more.
 

maldorf

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Nvidia comes up with a great idea!! Maybe this will help.

"Now, in order to reduce demand from crypto mining operations, Nvidia is limiting the efficiency with which it can process transactions for a popular cryptocurrency known as Ethereum. Nvidia says it is focusing specifically on Etherium because it’s still profitable to mine. The card’s drivers will detect cryptocurrency mining activities automatically and scale down the performance without any actual physical changes to the card itself."

They have a new rtx 3060 coming out too, that they boosted performance and its the cheapest card. Between the performance boost/cheap price of the 3060 and a new card aimed at crytptomining, hopefully the miners will lay off the true gaming cards.

Thus sounds promising.
"While Nvidia is kneecapping its gaming-oriented cards when it comes to crypto mining, the company has also announced that it will launch its own crypto-specific chip called the Nvidia cryptocurrency mining processor, which eschews tech meant for gaming and focuses purely on mining."

Nvidia should make millions of more $$$$ selling those and at the same time make gamers like us happy again. Brilliant if you ask me.

 

OuchThatHurts

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New financial analysis suggests the Nvidia RTX 3000 ongoing shortages could be pinned on crypto miners - NotebookCheck.net News


"All those scalpers we have been hearing about may actually turn out to be crypto miners hoarding the new RTX 3000 cards for Ethereum mining farms. Analysts somehow discovered that Nvidia has already sold $175 million worth of RTX 3000 cards and most of these sales were made directly to crypto miners. "

None of the stores or even Amazon has any. Its nuts. Those crypto miners somehow get direct access to the company. There is a dude around here that has a big warehouse full of mining pcs. He ordered I think it was around 500 GPUs all at once, each cost about $800. Sounds like those guys are at it again. The problem isnt going to end anytime soon!


" We are also hearing that AMD’s new RDNA2 cards are not really that better compared to the RDNA1 RX 5700 XT models launched back in mid-2019, plus the incoming Nvidia RTX 3060 Ti is said to be faster than the RX 6900 XT from AMD. This could redirect gamers towards Team Red’s new RDNA2 cards in the coming months, provided that the RX 6000 supply issues get fixed in the meantime. Nvidia fans, on the other hand, may be left with a fat lip, as even the RTX 3070 and RTX 3060 models that were touted to have more plentiful supplies could get scalped by miners. "
I'm of the understanding that the net energy usage for the compute cycles and equipment involved, the kind required for the processing the growing cryptocurrency exchange algorithms will eventually exceed the value of the cryptocurrency itself, creating a net loss.

When people begin to use cryptocurrencies more and more for transactions mostly and moving money around like any other fiat currency, the investment will more often than not exhibit the same characteristics of current currency arbitrage.

No doubt, the people that got in early made a ton and there maybe even more growth but it still bears all the signs of bubble eventually.
 

maldorf

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I'm of the understanding that the net energy usage for the compute cycles and equipment involved, the kind required for the processing the growing cryptocurrency exchange algorithms will eventually exceed the value of the cryptocurrency itself, creating a net loss.

When people begin to use cryptocurrencies more and more for transactions mostly and moving money around like any other fiat currency, the investment will more often than not exhibit the same characteristics of current currency arbitrage.

No doubt, the people that got in early made a ton and there maybe even more growth but it still bears all the signs of bubble eventually.
Well, it's going to depend on which currency they are trying to mine. Bitcoin has long been nonsensical to mine. Nvidia has specifically targeted etherium now in its new rtx 3000 chips. When a newer currency comes along, they should be able to target that Hopefully. I'm not sure why they zoned in on etherium.

It seems like there are many many different crypto currencies. New ones are bound to pop up in the future? That may be enough to keep the mining business alive for some time. Nvidia is releasing its gpus made just for mining soon. The price on those is about $400 each, which is much lower than the $1000 to $2200 we pay for a gaming gpu. Hopefully miners switch to those. Those are more economical and are built for one purpose. That product should keep mining alive longer and at the same time free up gaming gpus for real gamers like me.
 

maldorf

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Has anyone been able to buy a Nvidia rtx 3080 or 3090 card, or the AMD equivalent? Just curious. People are camping out at Microcenter the night before and getting in a line. Line forms when the store closes around 9pm and then they have to camp out all night until it opens about 12 hours or more later. It is nuts. The sales guy said that it happens several days a week at least. I think the customers have learned when the shipments come in. Some people are paying others to wait in line for them.
 

maldorf

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From what I read now, it looks like the problem is more due to a shortage in the supply of chips needed for the cards and the manufacturing process has turned out to be much slower than they anticipated. The architecture for the new 3000 series Nvidia cards is taking longer to produce than thought. The shortage is very linked to Covid-19 too, and Im not sure why production hasnt picked up more yet because at least here in the US things are getting back to normal or at least a lot better. I guess California is still under a lot of rules still though?

Lumber prices are horrible, and 3x the norm. The build a house is $36,000 on average more just because of lumber alone. We have given up the idea of building now because it would just be stupid. New home prices are probably inflated a good %20 over what they should be. Nobody is building homes that are all brick now with hardwood floors. They look at me like I am crazy when I say I want to do that. Builders are even able to get the wood they need to build.
 

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