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Old 4th December 2018, 23:42
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Unfortunately, I'm sure my 1070Ti would have been a lot cheaper last year if it weren't for Bitcoin miners.


Quote:
Originally Posted by S.B. View Post
Bitcoin mining is what has been driving the sales of video cards recently, not gaming. Although they may have missed the party, having seen the way its value has been dropping.
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Old 5th December 2018, 01:18
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I don't follow bitcoins or cryptocurrency.

I have no idea how they work.

I know a couple of people who are making a ton of money buying them.

One of them contacted me over a year ago and asked me if I want to get some bitcoins with him.

I said I am staying away.

In less than 6 months, he was driving a brand new car, moved into an expensive apartment, buying new furniture, new gigantic 4K TV, and other luxury items.

I think they are like stocks, the value is only on paper and you are living on borrowed times: for example you buy ACME stocks at $10 a share and it goes up to $100, you still have your stocks and you are living on the $90 per share profit you supposedly will get if you were to sell those stocks.

Never spend money before you actually made it.

What does bitcoin has to do with video cards?
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Old 5th December 2018, 09:13
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As simply put as I can manage it, going by memory.

The value's not even on paper, it exists as a set of generated numbers on a central register called a "Blockchain."

The numbers are generated by Graphics Processing Power, the better your graphics card, the more transactions you can generate = the more money you can make in transaction fees.

The original theory way back when bitcoin mining started was that the amount of power required, both from the PC and the electricity grid, would limit the amount of transactions because each new transaction needs more processing power than the previous one.

Unfortunately, it appears that didn't happen, largely because the new generation of miners have access to much more powerful PCs, and have set up in places like China, where electricity is subsidised.

Bitcoin saddens me, because the effort involved could have been put into [email protected] - but [email protected] doesn't make people any money.

Ah well, each to their own I guess.
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Last edited by Gwynd; 5th December 2018 at 09:58. Reason: Adds
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Old 5th December 2018, 12:30
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The link between bitcoin and video cards has also been blamed for the fall in the share price of Nvidia


Quote:
Originally Posted by CNN Business 16 Nov 2018

Nvidia stock plummets after 'crypto hangover'
Bitcoin's slump is causing a big headache for one of Silicon Valley's top tech firms.

Computer chipmaker Nvidia's stock plunged nearly 17% in after hours trading on the Nasdaq on Thursday, after the company's third quarter financial results came in significantly lower than expected.
Nvidia (NVDA) specializes in making hardware for video game consoles and digital currency mining, the process by which computers are used to create bitcoin and other cryptocurrencies by solving complex math problems.
But bitcoin prices have more than halved this year after a spectacular rally in 2017. That has hit demand for Nvidia's technology, the company revealed Thursday, causing unsolved inventory of its products to pile up.
"The crypto hangover lasted longer than we expected," Nvidia CEO Jensen Huang said on a conference call with investors Thursday.
Bitcoin prices have more than halved this year after a spectacular rally in 2017.

Things could get worse before they get better, with the price of bitcoin recently falling to its lowest level in a year. Nvidia said for the current holiday season quarter it now only expects to record revenues of $2.7 billion, compared to analyst forecasts of about $3.4 billion.
Nvidia isn't the only big US tech firm to suffer as a result of the crypto rout.
Rival chipmaker AMD (AMD) reported lower than expected earnings last quarter, blaming the cryptocurrency slump for a slowdown in sales. The company said it expects revenue to fall below analyst expectations in the current quarter as well.
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Old 5th December 2018, 21:14

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Quote:
Originally Posted by Namcot View Post
What does bitcoin has to do with video cards?
apparently to economically "mine" bitcoin its good to have certain type of graphics card because the graphics cards are better at mathematical computations - more cost effective than latest CPU i think

maybe someone else can further explain
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Old 5th December 2018, 22:31
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So if you don't pay your electric bill and your electricity gets shuts off, you are pretty much fucked?

Your bitcoins in your account will be worth nothing after a while from not having you around to mine them on an hourly basis every day?
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Old 6th December 2018, 07:00
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Quote:
Originally Posted by Namcot View Post
So if you don't pay your electric bill and your electricity gets shuts off, you are pretty much fucked?

Your bitcoins in your account will be worth nothing after a while from not having you around to mine them on an hourly basis every day?
No.

One guy apparently lost a lot of Bitcoins because he threw out the old hard drive that contained his unique user ID.
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Old 6th December 2018, 08:57

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Quote:
Originally Posted by Namcot View Post
I am still using a 2 GB GeForce.

If you're not doing any heavy gaming or anything, that will do you just fine.

Quote:
Originally Posted by Gwynd View Post
Unfortunately, I'm sure my 1070Ti would have been a lot cheaper last year if it weren't for Bitcoin miners.


Some of us are having to slog through life with a 1050Ti.
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Old 14th December 2018, 18:11
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Quote:
Originally Posted by Gwynd View Post
I'm not sure why the PC needs "at least 24GB of RAM" - but it would fit very nicely in this, which has more than enough to spare.

Broadcast/post-production companies need all that power and even some more.
When it comes to edit RAW uncompressed 2K/4K/VR/Stereoscopic 3D content, there is no such thing as "enough".
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Old 14th December 2018, 22:48

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It wasn't really bitcoin that drove the prices of those gpu's to insane levels, alt coins did like ethereum. Ethereum and other coins couldn't be mined on asics (memory constraints by design on alt coins) but it could be mined on gpu's. Demand couldn't keep up with supply hence the price hike. Nobody in his right mind would mine bitcoins on a gpu anyway, or mine bitcoins at all. You need rigs of asics to compete with the big boys thus out of reach for most of us.

If you want to mine coins just don't mine bitcoins or bitcoin forks, go for alt coins that are asic resistant.
Last edited by dr_hubble; 14th December 2018 at 22:48.
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