Mine Crypto Before It's Too Late! (SPONSORED)

[jtmoseley]

Just now, Loki0111 said:

I'd imagine something like 80% or more of the PC gaming community is mad, that is what this is actually all about.

Well sure but why is all the blame being placed on miners? Mining has been a stable-ish thing for like 4 years now. Personally I blame Nvidia and AMD for not meeting product demand. 

[Loki0111]

2 minutes ago, jtmoseley said:

Well sure but why is all the blame being placed on miners? Mining has been a stable-ish thing for like 4 years now. Personally I blame Nvidia and AMD for not meeting product demand. 

Mining has not been stable for 4 years. Demand was down for a number of years then Ethereum spiked.

 

Nvidia has already produced more 30 series cards over the same time period then they did 20 series cards and you can't actually buy one anywhere. AMD and Nvidia are both way above their normal production numbers and still can't keep up. Bots are clearing inventory the second they even hit the sites.

 

Its not just 30 series cards either, anything that can actually mine is completely sold out.

[asquirrel]

6 minutes ago, jtmoseley said:

One thing I found interesting was that when I started mining with my 3070 I thought I could only mine OR game, that they were mutually exclusive. But in actuality as long as I'm not playing super hard to run games I can very easily do both at the same time. For instance Valorant or CSGO or Rocket League I can easily run at 144 fps while still making 5 dollars a day mining.

Uhhhhh. No. Well, ok, you have a 3070, so that's probably why. but my 1080 can't do that. And if it could, all that'd really mean was that I was leaving mining performance on the table. But, at a higher level, I really don't want my card to run at 80C. If I max the fans out it will be around that hot. The aftermarket cooler is good, but physics has its limits. It's getting on 4-5 years old now and I've repasted it twice, but...I'm not going to tempt fate for a grand total of, what, maybe $150 before the crypto bubble pops? It's just not worth it to me. Not when I can't get a new card lickity-split.

 

Really though, for me, it just isn't worth it. I'll leave the effort to people for whom $1 a day is meaningful.

[Moonzy]

Oh look another crypto thread

 

I'm surprised that linus even made this video because of the hate against mining in his audience

Even though their reasoning for the hate is most of the time flimsy, assumptions, and misinformation

 

I wish they educated people more about how to properly and safely setup their card, step by step "undervolting" would help a lot of people that are interested

Telling people how to mine but not properly educating them on how to do it properly is kinda not great, as it causes more electricity to be used than needed.

 

Or maybe a video to discuss about mining first, so they don't get another dislike bomb

 

7 minutes ago, jtmoseley said:

One thing I found interesting was that when I started mining with my 3070 I thought I could only mine OR game, that they were mutually exclusive. But in actuality as long as I'm not playing super hard to run games I can very easily do both at the same time. For instance Valorant or CSGO or Rocket League I can easily run at 144 fps while still making 5 dollars a day mining.

This is what I discovered recently too, it's fine to use my PC while it's mining away, even in light games

 

 

People who say mining will promote lazy, i see it as a way to leverage better pay our working condition from regular jobs

Imagine a situation where no one would clean the sewers anymore because mining is easier and more profitable.

Eventually someone will have to do it, and they can use mining as a leverage to ask for better pay and equipments to do the job, maybe try looking at this video, it shares some similarity

 

[jtmoseley]

Just now, Loki0111 said:

Mining has not been stable for 4 years. Demand was down for a number of years then Ethereum spiked.

 

Nvidia has already produced more 30 series cards over the same time period then they did 20 series cards and you can't actually buy one anywhere. AMD and Nvidia are both way above their normal production numbers and can't keep up.

The 20 series was a joke. I'm just saying this has happened twice, once with the 10 series and once with the 30 series, and gamers keep blaming miners. Nvidia could always actually work on making a software lock against mining on gaming cards or something. Or ramp up production even more.

[Loki0111]

2 minutes ago, jtmoseley said:

The 20 series was a joke. I'm just saying this has happened twice, once with the 10 series and once with the 30 series, and gamers keep blaming miners. Nvidia could always actually work on making a software lock against mining on gaming cards or something. Or ramp up production even more.

I'm saying the series of the card is completely irrelevant, anything that can mine is sold out right now. That includes 30 series, 20 series or pretty much anything else with enough VRAM and a decent hash rate.

 

It has nothing to do with production. All inventory both new and used everywhere is sold out or massively marked up.

[IkeaGnome]

2 hours ago, IkeaGnome said:

Gamers aren't free of fault here. People thinking they need the newest and best ( I am one, look at my signature) and then get angry when they can't get it. They're also forgetting that these are used in everything from rendering to super computers to science. I've yet to see one "video makers bad", "Super computers bad", "Scientists bad" thread. 

 

7 minutes ago, Loki0111 said:

I'd imagine something like 80% or more of the PC gaming community is mad, that is what this is actually all about. Between the scalpers and miners you can't buy a card and its pretty clear its not a production issue since Nvidia has already manufactured more 30 series cards then they did 20 series over the same time period.

Because there's only two types of people that want to use GPUs?

[Bran den]

5 hours ago, JonoT said:

 

 

Thanks to NiceHash for sponsoring today's video! Check out NiceHash and use their new QuickMiner at https://lmg.gg/Xx9FG

Crypto has never been hotter, so why aren't you taking advantage of your expensive GPU through NiceHash or your own programming?

I don't understand the negative sentiment around this video.  I am happy to use Ethermine pool and PhoenixMiner on the 6800 XT in my Aurora Ryzen Edition and the 2070 I was previously using in my Alienware Graphics Amplifier.  Having just spent over 2k USD, I am MORE than happy to be mining on my new gaming computer.  I was able to combine both cards in my Alienware for a combined hashrate of 107 MH/s. I believe in Ethereum and Bitcoin, and I truly believe decentralized cryptocurrencies are the future. If you disagree, you are lying to yourself. My only disappointment is the move from proof of work to proof of stake seems to mean the end of gpu mining, but the move will certainly prove the best for Ethereum's overall future.

[Loki0111]

2 minutes ago, IkeaGnome said:

 

Because there's only two types of people that want to use GPUs?

I'd imagine there are way more then two. But there are two driving the overwhelming majority of the demand.

 

Commercial is largely using the professional tier cards.

[IkeaGnome]

Just now, Loki0111 said:

I'd imagine there are way more then two. But there are two driving the overwhelming majority of the demand.

Ah yes, the auto manufacturers and smart phones.

https://www.forbes.com/sites/palashghosh/2021/02/22/theres-a-worldwide-shortage-of-semiconductors-hurting-car-and-smartphone-companies-heres-how-investors-can-benefit/?sh=3241693f795b

[MultiGamerClub]

2 minutes ago, jtmoseley said:

The 20 series was a joke. I'm just saying this has happened twice, once with the 10 series and once with the 30 series, and gamers keep blaming miners. Nvidia could always actually work on making a software lock against mining on gaming cards or something. Or ramp up production even more.

I wish i could disagree knowing i am using a PNY 2080 Super triple fan.. But then again seeing a 3080 come out early and bamboozling everyone who buyed a 2080 ti for 1400€/1550$~ in norway.. Man i could have waited a few months and just MAYBE gotten a 3080 if i had any luck.. Which is rare considering the insane backorders now.

 

Not sure its a good idea to mine on this pny 2080 super card, while the temperature's never touched 80c.. I bet it will if its going to be mined on heavily.. That is if nicehash supports lighter loads, then i actually might consider getting into this thing. Now with 3x 140mm intake and 3x 120mm pulling out.. Noise isnt so bad in an enclosed case with dampeners/textures inside the case to silence the noise a bit.

[Loki0111]

5 minutes ago, IkeaGnome said:

Ah yes, the auto manufacturers and smart phones.

https://www.forbes.com/sites/palashghosh/2021/02/22/theres-a-worldwide-shortage-of-semiconductors-hurting-car-and-smartphone-companies-heres-how-investors-can-benefit/?sh=3241693f795b

Are you actually serious?

 

How many Ampere based cores do you seriously think the auto industry is buying?

 

Yes, the auto industry is suffering chip shortages. But most of that is coming from players like NXP and other ADAS providers, not Nvidia GPU processors.

[IkeaGnome]

1 minute ago, Loki0111 said:

Are you actually serious?

 

How many Ampere based cores do you seriously think the auto industry is buying?

 

Yes, the auto industry is suffering chip shortages. But most of that is coming from players like NXP, not Nvidia GPU processors.

You realize it's all built using the same base product.... Silicon? 

[Moonzy]

9 minutes ago, MultiGamerClub said:

That is if nicehash supports lighter loads, then i actually might consider getting into this thing

For Nvidia card, you can easily tune the load by tuning power limit

 

This is true for any task and you could consider undervolting your card for regular games too

[Loki0111]

8 minutes ago, IkeaGnome said:

You realize it's all built using the same base product.... Silicon? 

There is not actually a silicon mining shortage. Its a chip production shortage on certain SKUs. This is why the shortage is only impacting specific markets while not affecting others and things like NAND are cheap.

 

Outside of some outliners like Tesla automotive ADAS chips are not running on the latest nodes. The shortages are largely due to a Toyota derived just in time logistics delivery systems and production disruptions. The automotive industry buys chips in huge bulk numbers so the per chip profit margins are typically thinner and more susceptible to disruption.

 

This is like saying corn is more expensive at your local grocery store this week because there is a food shortage in Chad.

[IkeaGnome]

3 minutes ago, Loki0111 said:

This is like saying corn is more expensive at your local grocery store because there is a food shortage in Chad.

You sure? I know it's not a mining shortage. Silicon isn't mined. It's refined. It's no different than diesel. It's a bi product of other stuff we go after.

The shortage lies in bad supply chains. Mostly not having enough space to make everything that's being demanded of them.

https://www.theregister.com/2021/03/04/micron_dram/

https://fortune.com/2021/02/15/chip-shortage-2021-cars-computers-auto-industry-technology-covid-19/

 

[Loki0111]

9 minutes ago, IkeaGnome said:

You sure? I know it's not a mining shortage. Silicon isn't mined. It's refined. It's no different than diesel. It's a bi product of other stuff we go after.

The shortage lies in bad supply chains. Mostly not having enough space to make everything that's being demanded of them.

https://www.theregister.com/2021/03/04/micron_dram/

https://fortune.com/2021/02/15/chip-shortage-2021-cars-computers-auto-industry-technology-covid-19/

 

There is a lengthy process to produce silicon rods which the wafers are cut from that typically starts from quarrying but for the sake of not having to type an entire paragraph to describe the whole life cycle of where chip silicon come from every single time I make a comment, and since its not actually relevant to the topic I am discussing I just refer to it as silicon mining.

 

https://www.techradar.com/news/computing-components/processors/how-sand-is-transformed-into-silicon-chips-599785

 

And yes, I just stated its largely because by a break down the of the just in time delivery production model and a lack of stock due to the previous disruptions. The problem in this case is the just in time delivery model the automotive industry uses and as a result the industry does not have any significant chip stockpiles. If they did have enough of a stockpile to weather a short term disruption they'd be fine right now.

 

What is going on with the GPU market is something else entirely.

[Aochan]

I am really super fucking sceptical of the optics of "x is bad, unless we do x then it's super cool".

 

A thousand viewers who start to mine (not even profiting, or having the right energy footprint) is still a thousand GPUs wasting energy and propping up an immoral industry prying on people who don't know better to invest in, with results that are comically far worse than simply buying into GameStop. At least GameStop has real people working under it, cryptos is made of opaque investors and people holding to them until enough fools have bought in.

[realpetertdm]

3 hours ago, eldiabolo said:

So, this is a bit sad... 

 

As others have pointed out, this whole behaviour is super hypocritical. Usually advocating for gamers, even getting your verified gamer programm or whatever on the way, but then  promoting the very shit industry that's leading to one of the biggest fuckups in tech history. I know. Linus hasn't exactly stated to buy new graphics cards for mining, but what does he thinks is going to happen when people get into mining because of this video? This i BS... Besides the enviromental impact its just super painful for gamers these days and LTT can't seem to skip on a coupl bucks promoting this BS. 

 

Call me bitter, call me childish, but I'm so angry like I haven't been in a long time. I really liked the channel and brand (even though i liked the more unprofessional videos in the beginning more, not a fan of this commercialization, but oh well...) you made interesting videos, but this is just a huge No for me. I will unsub from anything that has do with LTT, I will go out of my way to not get in contact with anything LTT and most certainly not recommend your videos to anybody anymore. I honestly wish you all the worst and hope you fail miserably. (Not that that seems likely, but it seems like a good way to express my disgust)

 

 

 

 

Ok, you're childlish and bitter and please go out and touch some grass

[Middcore]

1 hour ago, jtmoseley said:

The 20 series was a joke. I'm just saying this has happened twice, once with the 10 series and once with the 30 series, and gamers keep blaming miners. Nvidia could always actually work on making a software lock against mining on gaming cards or something. Or ramp up production even more.

"Just produce more lul 4head"

 

You know there's a worldwide silicon shortage, right? One that's also effecting industries like car manufacturing, to the point that world governments are looking into ways they can improve the supply chain? 

[JoeLogs]

1 hour ago, jtmoseley said:

Yea, I mean its just a currency. You could say the same thing about the cost of using paper money. Printing, stopping counterfeits, ATMs, shipping cash, etc all take a large toll on the environment too. 

This is extremely wrong. Fiats 2020 carbon footprint is exponentially smaller than cryptocurrencies 2020 carbon footprint. Fiats 2020 ledger is exponentially larger than cryptocurrencies 2020 ledger. Cryptocurrency is BY DESIGN a wildly inefficient way to effect movement of wealth. If 100% of the worlds transactions were made with nation state issued currency, the financial system would play a negligible role in climate change. If 100% of the worlds transactions were processed on block chain we would almost certainly cross the climate tipping point in the next 24 months, and most of the earth would likely become incompatible with human existence. 

[JoeLogs]

1 hour ago, jtmoseley said:

You're just mad cause you couldn't get a 30 series lol

I have a 3080. I also hold thousands of dollars in crypto because fuck it if we're going to wreck the earth for the dumbest reasons possible I would like to extract some benefit from all of this. That being said I would be ESTATIC if tomorrow the department of justice came out and said "We think cryptocurrency is mostly used for tax evasion, ransomware, and buying drugs so we're going move to make trading it within the United States illegal."

If that happened I would lose about $3,000 and I would be happy, because crypto is awful and should be stamped out ASAP.

[tikker]

1 hour ago, Loki0111 said:

Mining has not been stable for 4 years. Demand was down for a number of years then Ethereum spiked.

 

Nvidia has already produced more 30 series cards over the same time period then they did 20 series cards and you can't actually buy one anywhere. AMD and Nvidia are both way above their normal production numbers and still can't keep up. Bots are clearing inventory the second they even hit the sites.

 

Its not just 30 series cards either, anything that can actually mine is completely sold out.

Have they actually sold more 3000 series cards sold vs 2000 series cards? They've sold more GPUs last year than in 2019, but as you say literally every single GPU is pretty much gone. Selling more RTX 3000 cards now than RTX 2000 card then doesn't really say anything about whether they face production issues or not. The world quite literally was a different place. You can't deny there's a production issue if even shops hardly get anything. Chinese new year also had factories closed.

 

8 minutes ago, JoeLogs said:

if tomorrow the department of justice came out and said "We think cryptocurrency is mostly used for tax evasion, ransomware, and buying drugs so we're going move to make trading it within the United States illegal."

Unfortunately that wouldn't fly, as that isn't true. It would be smarter to ban mining based on ecological grounds.

[JoeLogs]

10 minutes ago, tikker said:

Unfortunately that wouldn't fly, as that isn't true. It would be smarter to ban mining based on ecological grounds.

It doesn't even matter if it's true. Janet Yellen said she thought bitcoin was stupid and a borderline scam, and cryptocurrencies took an immediate 15% percent haircut across the board. She didn't even suggest the treasury department would take actions to reduce its value. If the department of justice made an announcement that they think cryptocurrency facilities too much crime and they plan on doing something about it, every banked cryptocurrency exchange that compiles with KYC regulations would collapse almost instantaneously. The lack of banked exchanges to trade on would cause the value to crater almost instantaneously, the Tether scam would break pretty soon after, and the unbanked exchanges would either go bust within months, or revert to a stats quo that looked more like Mt Gox and less like Coinbase. 

[tikker]

2 minutes ago, JoeLogs said:

It doesn't even matter if it's true. Janet Yellen said she thought bitcoin was stupid and a borderline scam, and cryptocurrencies took an immediate 15% percent haircut across the board. She didn't even suggest the treasury department would take actions to reduce its value. If the department of justice made an announcement that they think cryptocurrency facilities too much crime and they plan on doing something about it, every banked cryptocurrency exchange that compiles with KYC regulations would collapse almost instantaneously. The lack of banked exchanges to trade on would cause the value to crater almost instantaneously, the Tether scam would break pretty soon after, and the unbanked exchanges would either go bust within months, or revert to a stats quo that looked more like Mt Gox and less like Coinbase. 

Yeah but look where we are now. It has already recovered from that 15% drop. They should go careful around a ban, because decentralised exchanges are already gaining some popularity and I think if they'd ban it without good reason that would only accelerate it. With these regulated centralised exchanges they at least have some sort of handle on it.