Nvidia Sold $175 Million Worth of GeForce RTX 30 GPUs To Crypto Miners

[SpaceGhostC2C]

1 hour ago, SupaKomputa said:

Yes, it's reasonable. But miners will probably stay away from mining only gpu.

Lesson learned, When crypto crashed, some miners can get away selling their non mining gpu, but for mining ones no one wants them.

I agree, trying to do pure mining wouldn't work. But they could try to steer them to other cards with alternative uses, like Instinct, Vega VII, or some other form of "semi-pro" card with higher margins yet still more efficient in mining-per-dollar terms.

[eeeee1]

The grand scheme for miners, blame the scalpers so you don't take the head for a month or so.

 

Genius

[spartaman64]

6 hours ago, Arika S said:

says who?

 

Miners are customers too. Why are "gamers" more entitled to new GPUs than anyone else?

 

6 hours ago, Moonzy said:

wh... what?

since when can people tell me what im allowed to do on my hardware?

 

6 hours ago, TehDwonz said:

I think this is a jealousy-thread tbh.

if they buy them from stores like the rest of us I dont really have too much problems with that but from what this seems like is nvidia is selling to them directly

[pythonmegapixel]

This post may sound harsh, but I'm really at the end of my tether with some of this crap...

 

This thread is just dripping with entitlement. Frankly some of you sound like little babies when you have your favourite toy taken away. "BUT I WANT IT NOWWWWWWWWWWWWW!!!!"

 

So let's just set a few things set straight:

• It is no individual on this forum's place to decide what these cards are used for. That is the decision of whoever buys any particular card.
   
• More widely, it is nVidia's decision who they sell to. And they make that decision not based on what some people on some random tech forum think. They make that decision based upon what makes them the most money, both in the short and long term. They are a business. They have literally no obligation to you.
   
• Most of us in the world can't even afford a 30-series card. For some of us they're more than we'd spend on an entire computer. You are privileged by even being able to afford this stuff. So stop whinging.
   

• There is absolutely no reason why you need a new graphics card NOW and you CAN'T WAIT. Just use your current GPU for a few more months. If it's dead, buy a cheap old one to chuck in your system for a while. You aren't going to die.
   
• The argument that "mining is dead, nobody mines anymore" is literally more dead than mining itself. People have been saying that for years, and it's not come true...

 

Rant over.

[bit]

12 minutes ago, pythonmegapixel said:

-baby rage snip-

You sound fun

[pythonmegapixel]

7 minutes ago, bit said:

You sound fun

I believe my opinion in that post was, and is, justified.

[Wheresmehammer]

7 hours ago, Arika S said:

says who?

 

Miners are customers too. Why are "gamers" more entitled to new GPUs than anyone else?

Completely agree, they spent their share to get the product.

[Wheresmehammer]

24 minutes ago, pythonmegapixel said:

This post may sound harsh, but I'm really at the end of my tether with some of this crap...

 

This thread is just dripping with entitlement. Frankly some of you sound like little babies when you have your favourite toy taken away. "BUT I WANT IT NOWWWWWWWWWWWWW!!!!"

 

So let's just set a few things set straight:

• It is no individual on this forum's place to decide what these cards are used for. That is the decision of whoever buys any particular card.
   
• More widely, it is nVidia's decision who they sell to. And they make that decision not based on what some people on some random tech forum think. They make that decision based upon what makes them the most money, both in the short and long term. They are a business. They have literally no obligation to you.
   
• Most of us in the world can't even afford a 30-series card. For some of us they're more than we'd spend on an entire computer. You are privileged by even being able to afford this stuff. So stop whinging.
   

• There is absolutely no reason why you need a new graphics card NOW and you CAN'T WAIT. Just use your current GPU for a few more months. If it's dead, buy a cheap old one to chuck in your system for a while. You aren't going to die.
   
• The argument that "mining is dead, nobody mines anymore" is literally more dead than mining itself. People have been saying that for years, and it's not come true...

 

Rant over.

Thank you for some common sense.

[Blademaster91]

4 minutes ago, Wheresmehammer said:

Completely agree, they spent their share to get the product.

The miners are going to nvidia directly, the average consumer doesn't have the luxury of getting thousands of GPUs, and nvidia has been sued for selling directly to mining farms before.

[Wheresmehammer]

Just now, Blademaster91 said:

The miners are going to nvidia directly, the average consumer doesn't have the luxury of getting thousands of GPUs, and nvidia has been sued for selling directly to mining farms before.

Oh you mean a business is doing it's job? selling products..

 

Yes i get that whiny self deluded and entitled people think they are the centre of the Earth but they are not.

[SupaKomputa]

Nvidia : We will release a new Gaming GPU. Hurraaah!

Gamers : Yaaaayyy... heres $999.

Miners : $$$$$

Nvidia : But not for you gamers, you guys have to wait....

[Blademaster91]

3 minutes ago, Wheresmehammer said:

Oh you mean a business is doing it's job? selling products..

 

Yes i get that whiny self deluded and entitled people think they are the centre of the Earth but they are not.

A business telling its consumers there is "unprecedented demand"  and they're trying to get cards on the shelves, but instead selling cards to miners directly is a total lie, companies get sued for being deceptive to their consumer market.

And its different when those miners are getting cards directly instead of signing up for pre-orders like a regular consumer.

But it's interesting people are whining those that want anything new are entitled, because how dare anyone that worked for it or saved up for it and waited, to want to upgrade to a new GPU.

 

 

[Wheresmehammer]

2 minutes ago, Blademaster91 said:

A business telling its consumers there is "unprecedented demand"  and they're trying to get cards on the shelves, but instead selling cards to miners directly is a total lie, companies get sued for being deceptive to their consumer market.

And its different when those miners are getting cards directly instead of signing up for pre-orders like a regular consumer.

But it's interesting people are whining those that want anything new are entitled, because how dare anyone that worked for it or saved up for it and waited, to want to upgrade to a new GPU.

 

 

Eh, i intended to put some meat in the oven tonight but got side tracked by the fish and chip shop so went with that instead.

I mean, everyone does it, it's only annoying when a company does it? do you feel justified because all you want is to feel special and like you NEED something that is incredibly not useful to every day life?

 

I could understand if it was fresh water, but a GPU?

 

 

[mousesnob]

6 hours ago, Lord Vile said:

Thought mining had moved over to ASIC. 

I think etherium is forked in a way that asics cant be used.

 

Edit: didnt read far enough sorry.

[mousesnob]

5 hours ago, porina said:

 

I havent done a deep research but i havent seen an actual etherium asic, i've only seen rack mountable amd gpu clusters being sold as an asic.

[sof006]

7 hours ago, Arika S said:

says who?

 

Miners are customers too. Why are "gamers" more entitled to new GPUs than anyone else?

Target audience = Gamers

 

None of Nvidias marketing indicates their cards are aimed at crypto mining. 

[Master Delta Chief]

59 minutes ago, pythonmegapixel said:

This post may sound harsh, but I'm really at the end of my tether with some of this crap...

 

This thread is just dripping with entitlement. Frankly some of you sound like little babies when you have your favourite toy taken away. "BUT I WANT IT NOWWWWWWWWWWWWW!!!!"

 

So let's just set a few things set straight:

• It is no individual on this forum's place to decide what these cards are used for. That is the decision of whoever buys any particular card.
   
• More widely, it is nVidia's decision who they sell to. And they make that decision not based on what some people on some random tech forum think. They make that decision based upon what makes them the most money, both in the short and long term. They are a business. They have literally no obligation to you.
   
• Most of us in the world can't even afford a 30-series card. For some of us they're more than we'd spend on an entire computer. You are privileged by even being able to afford this stuff. So stop whinging.
   

• There is absolutely no reason why you need a new graphics card NOW and you CAN'T WAIT. Just use your current GPU for a few more months. If it's dead, buy a cheap old one to chuck in your system for a while. You aren't going to die.
   
• The argument that "mining is dead, nobody mines anymore" is literally more dead than mining itself. People have been saying that for years, and it's not come true...

 

Rant over.

This isn't about entitlement, this is purely about the fact that mining in itself is a problem. I view them personally the same as scalpers, buying a whole bunch of cards at once for a singular purpose, getting money from it. Other people out there that actually want to make proper use of those cards won't be able to do so because of the current shortage, especially during this pandemic.   

 

35 minutes ago, Wheresmehammer said:

do you feel justified because all you want is to feel special and like you NEED something that is incredibly not useful to every day life?

If I understand you correctly, that same analogy can be used for mining. Is it incredibly useful for daily life? No, it is not. I would go as far as to say that cryptocurrency should just die out. 

[vsteel]

The issue isn't if they sell to miners but if they are alienating their core customer base.   There are a couple of ways to look at this.

 

1. They are going to sell to miners first because they know the gamers will be around when they do have cards to sell.  The mining market can rise and fall pretty quickly so they want to take advantage of the spike in demand.   They know people will keep buying their stuff when it comes around.  AMD is making parts for the new Xbox and PS5 along with the new CPU launch.  Sure AMD is making a competitive product (Just go with the thought instead of replying with anything that starts out with "Well technically...") but they are not going to have the silicon allotment from TSMC.  That is something which is planned months in advance and can't be shifted on a whim.  So when AMD would be able to ramp up and get more cards out the door, Nvidia would have had plenty of time to make more cards and fill the short term demand.  The question though is are they going to piss people off enough they will wait and buy AMD and pass up the Nvidia cards?   Hard to say as I don't know the general public has that long of a memory, and there are people who need to have the fastest card no matter how bad the company is screwing them.  Certain people will pay 3X more for a card for the last 2% performance gain.  People that tie their self worth to a product they can purchase.

 

2. They were taken completely off guard.  People have to remember that in the spring there was a huge demand for PC parts and things were flying off the shelf like it was Christmas time.   I am sure they were looking at the past history and thinking that there was going to be a big demand but not as big as it is now.  After all how many more cards are people going to want, surely most everyone that is going to has a new PC or at least an upgraded one by now.  They did have their ego get in the way as well because they thought they were going to waltz into TSMC and just get everything they wanted and then had to go packing to Samsung.  They also didn't fully appreciate the money savings of a lot of people.  People who used to go out to eat 4 times a week, see a movie now and then, bar tabs that are not being built, travel budgets and so on.  Really anything that occupies your time when you are home is pretty much all in short supply or at least very low inventory levels.  Bottom line they didn't want to get stuck with a bunch of silicon allotment they couldn't sell or would sit in inventory for a long time.

 

Keep in mind people, they have had rooms filled, both real and virtual, for probably 2 years planning this.  There are hundreds of factors that were talked about in those meetings that no one in this thread has thought of.  When Nvidia makes a move it is because they believe it is in their best interest.  That includes profit, company image, and future revenue/partnerships all taken into account.  Do they make mistakes, yes, can they be caught off guard, yes, but it isn't from a lack of trying to fully understand the situation and plot the best course of action.

 

 

[Briggsy]

40 minutes ago, sof006 said:

Target audience = Gamers

 

None of Nvidias marketing indicates their cards are aimed at crypto mining. 

From what I've read and heard nvidia aren't selling cards to miners, only the GPU chips. The mining companies have their own pcb design, components and in-house drivers. In theory samsung might be able to produce more wafers than AIB's need, so the excess being sold to miners doesn't impact how many cards get manufactured and sold to gamers. For all we know, the exact same thing was happening with Pascal and Turing, but the demand wasn't nearly as high from gamers as it is now, hence the outrage.

[Dracarris]

1 hour ago, pythonmegapixel said:

This post may sound harsh, but I'm really at the end of my tether with some of this crap...

 

-snip -

*hurr durr capitalism is sooo great hurr durrr*

 

FYI: This is not just one random tech forum sharing this opinion, it is lots and lots of people all over the globe.

18 minutes ago, Master Delta Chief said:

If I understand you correctly, that same analogy can be used for mining. Is it incredibly useful for daily life? No, it is not. I would go as far as to say that cryptocurrency should just die out. 

I can only second that - if anything at all, mining is quite unnecessary for humankind and provides no motivation at all to prefer selling cards to miners.

6 hours ago, Dracarris said:

Quote

Our philosophy has always been to get the latest technology into the hands of gamers as fast as possible.

 

https://www.nvidia.com/en-us/geforce/news/rtx-3080-qa/

I don't know why this has been ignored so far. If all this is true, they simply lied to us. Which is just awful.

 

And I may also friendly remind everyone in this thread screaming "m0oore cApitAlisM moOre MoneYZ" to this

6 hours ago, Dracarris said:

They can. Just like Nestle can buy up water resources in Africa and sell the water for fat profit to the locals.

 

You can play the game of maximizing your profits for however far you seem fit. The question is when you draw the line between having legit business interests and simply maximizing your cash on immoral grounds.

 

-snip-

You may do whatever you want as a company, but don't blame anyone when people treat you like an asshole after acting as such. And thankfully, in large parts of the civilized world, there are boundaries to what capitalistic exploitation is allowed to do.

[Blademaster91]

1 hour ago, Wheresmehammer said:

do you feel justified because all you want is to feel special and like you NEED something that is incredibly not useful to every day life?

Theres plenty of people that can use a GPU while working from home.

Do miners need a GPU for every day life? No, and mining is definitely a problem that ruins the market for the consumer that these GPUs are intended to be sold to.

[Wheresmehammer]

3 minutes ago, Blademaster91 said:

Theres plenty of people that can use a GPU while working from home.

Do miners need a GPU for every day life? No, and mining is definitely a problem that ruins the market for the consumer that these GPUs are intended to be sold to.

I do see your point here.

[Jet_ski]

I had a suspicion that Nvidia must have sold most of their supply to miners and PC integrators.

 

My question is how many people will just give up trying to buy these things out of frustration. If Nvidia, Xbox, PS5, and AMD miss the holiday shopping season, there are good reasons why consumers might not care about their products in Q1 2021. Once covid vaccines are out, schools/colleges are open, and we can go outside, who’s gonna want to buy these expensive things?

 

By then new GPUs will be announce and miners won’t upgrade for the marginal improvement. So this whole thing might end up as Nvidia leaving money on the table for being such pricks. 

[The Blackhat]

7 hours ago, AluminiumTech said:

This time AMD has nerfed RDNA2 mining performance on purpose to avoid them being used for mining.

 

[Blademaster91]

Just now, Wheresmehammer said:

I do see your point here.

I do get your point, theres people that have to have a gpu immediately, those people wait in line for days or set up a bot, but I can wait i'm not in a hurry to get anything new.

The annoying thing is Nvidia selling directly to miners again, when supply is already low.