NVIDIA to Introduce a New GeForce RTX 3060 GPU SKU with Ethereum Mining Limiter

[yotano211]

I doubt these people are reporting and paying any taxes on the profits they made, let alone open a company and it paying taxes and dues like all the other stores must. So probably not just people but tax evaders as well.
Sure you can sell your old GPU in the second hand market, but if you buy and sell new stuff with the express reason to make money of such trades you are basically a store - unregistered, and not paying taxes, while your clients are not protected with the consumer protection laws since you are officialy not a store.

Payment processors dont have to send a Form 1099-k until the client reaches $20k in transactions and/or 200 items sold. Each state can have their own reporting amount, some leave it the same while others are much lower.

Form 1099-K, Payment Card and Third Party Network Transactions, is an IRS information return used to report certain payment transactions to improve voluntary tax compliance

People who get lots of tips in cash also dont report lots of their earnings. Lets all audit them, lets see how much they really make and report. Dont think that cash resellers are not the only ones who dont report their full revenue.

Then sell them at MSRP and they wouldn't have to.

It's the whole nonsense story of one person being able to buy more than one GPU without pre-arranging this at the manufacturer. If they made it so, that only 1 card per customer could be gotten via; ID, Address, Cell No. Phone Number, user account, etc. this could have made sure that these cards stay at or near their MSRP.

No one would then have to "recoup" their ridiculous GPU price to begin with.

But hey, I have an idea, let's just let all the people with a ton of money run bots the whole time, buying up all the stock from a said company and sell it @ 3x times the price, maybe 5x, because hey, they can, muhahahahahahahaha. How fair? Right?


This is close to Extortion: The practice of obtaining something, especially money, through force or threats.

Granted, no one is threatening people, but they are forcing people to buy at these ridiculous prices.

I dont think you fully know what the word extortion means. Nobody is forcing people to buy GPUs at high prices. If a person wants to buy a 1030 at $500, let them, its their money. If they got that money in a legal way, they can do what ever they want with it.

From what I hear from miners they aren't using video cards to mine Bitcoin. They are using them mostly to mine Ethereum. I did some reading on the future of Ethereum and some analysts are saying it may go as high as $7,000 by 2025. Right now it's $2,400. So the GPU shortages could possibly get even worse and the prices on sites like Ebay could get even higher.

TSMC is building a mega-fab in the USA but it probably won't go online until 2024 and I'm not sure if it will have capacity for GPU manufacturing.

I'm not going to stop gaming even if I am forced to pay $3,000 for a 4080 when they come out. I will try to go on the waiting list first on sites that allow that but I have already seen one member here saying that he's been on a waiting list for 6 months and hasn't gotten one.

Bitcoin are mined with ASIC machines. Bitcoin GPU mining stopped about 9+ years ago

 

[TheOne]

From what I hear from miners they aren't using video cards to mine Bitcoin. They are using them mostly to mine Ethereum. I did some reading on the future of Ethereum and some analysts are saying it may go as high as $7,000 by 2025. Right now it's $2,400. So the GPU shortages could possibly get even worse and the prices on sites like Ebay could get even higher.

TSMC is building a mega-fab in the USA but it probably won't go online until 2024 and I'm not sure if it will have capacity for GPU manufacturing.

I'm not going to stop gaming even if I am forced to pay $3,000 for a 4080 when they come out. I will try to go on the waiting list first on sites that allow that but I have already seen one member here saying that he's been on a waiting list for 6 months and hasn't gotten one.

I have my doubts about this lasting that long, but if it were to go on for that long then PC gaming will be practically dead, at least with dedicated hardware, Stadia may yet rise from the ashes, well at least there is still GeForce Now.

 

[64K]

I have my doubts about this lasting that long, but if it were to go on for that long then PC gaming will be practically dead, at least with dedicated hardware, Stadia may yet rise from the ashes, well at least there is still GeForce Now.

I have my doubts about it as well. I hope crypto will crash just like usual. Right now we are in a bull market with crypto and confidence is high but I think it's overconfidence based on the past.

 

[TheoneandonlyMrK]

Payment processors dont have to send a Form 1099-k until the client reaches $20k in transactions and/or 200 items sold. Each state can have their own reporting amount, some leave it the same while others are much lower.

Form 1099-K, Payment Card and Third Party Network Transactions, is an IRS information return used to report certain payment transactions to improve voluntary tax compliance

People who get lots of tips in cash also dont report lots of their earnings. Lets all audit them, lets see how much they really make and report. Dont think that cash resellers are not the only ones who dont report their full revenue.


I dont think you fully know what the word extortion means. Nobody is forcing people to buy GPUs at high prices. If a person wants to buy a 1030 at $500, let them, its their money. If they got that money in a legal way, they can do what ever they want with it.


Bitcoin are mined with ASIC machines. Bitcoin GPU mining stopped about 9+ years ago

Might upset you but as you know this is a tech forum for tech ,pc and gaming enthusiasts.
With no real passion or corner for Scalpers, of which your admittedly one.
So I wouldn't expect many to agree with any of your well reasoned pro capitalism and pro scalper points.

Imho there should be limits on consumer purchases and bots should be banned just like they are for concert tickets in some countries.
I wouldn't legalise re sale but I don't like it too much either, but it's a necessary thing.
Can we try to mooch back to the topic though please.

 

[yotano211]

Might upset you but as you know this is a tech forum for tech ,pc and gaming enthusiasts.
With no real passion or corner for Scalpers, of which your admittedly one.
So I wouldn't expect many to agree with any of your well reasoned pro capitalism and pro scalper points.

Imho there should be limits on consumer purchases and bots should be banned just like they are for concert tickets in some countries.
I wouldn't legalise re sale but I don't like it too much either, but it's a necessary thing.
Can we try to mooch back to the topic though please.

I'm a reseller, scalpers are usually the concert ticket sellers that upcharge on concert tickets. It doesnt upset me in any way. I live and drive my 80k lb truck with peace and good music, no coffee.

 

[80251]

Why do it for a 3060? Why not the 3080ti?

I have my doubts about it as well. I hope crypto will crash just like usual. Right now we are in a bull market with crypto and confidence is high but I think it's overconfidence based on the past.

But what if crypto-currency doesn't crash? What if it ends up being like a positive feedback loop?

 

[64K]

Why do it for a 3060? Why not the 3080ti?

I think Nvidia is trying to do this with the 3060 because it is a mainstream GPU and it's fine for 1080p. It serves a far larger group of gamers than a high end GPU would.

But what if crypto-currency doesn't crash? What if it ends up being like a positive feedback loop?

Then it's going to hurt PC gaming pretty bad imo. Most gamers don't have anywhere close to $1,000 to put a mainstream GPU in their gaming PC. I have seen many gamers say that they don't want to do cloud gaming because of the latency. Not everyone has a great internet connection. In addition with far fewer sales on PC, Developers will neglect PC gaming.

 

[hat]

I'm not sure if cryptocurrency will crash, but one thing I can tell you is that as more miners hop on, difficulty goes up. If Ethereum were a giant pie and all the miners are taking a slice, then the more miners there are, the less everybody gets. To defeat this, you would have to have a lot of cash on hand to be able to add more miners than everyone else to be able to keep the current size of your pie slice, let alone get a bigger slice. Of course, the size of the total pie itself can go up or down with the value of Ethereum.

Putting it that way, I think anybody mining for profit in the moment is fighting a losing battle. Difficulty continues to increase as more miners jump on the bandwagon, so it doesn't really make sense to continually spend money to keep making the same (or hopefully even a bit more) money when a $700 graphics card makes $8/day. Each card has roughly an 88 day (call it 3 months) ROI with the market exactly as it is, and that's assuming you have free electricity and you are finding 3080s at MSRP, and not counting the cost of any supporting hardware, which is extremely generous. No, they have to be looking at profits later. They're hoping the prices will grow in the future.

That said, I'm not sure Ethereum is a safe bet. There's supposed to be some change coming soon that changes the way Ethereum is mined. I've got no idea what this means for the profitability of mining Ethereum, or the price of Ethereum itself. What I do is simply mine with Nicehash. Sure, technically I'm mining Ethereum, but I'm not getting any ETH. I'm getting paid in BTC, and I think I prefer it that way. It might be fun to hold on to a few different altcoins, but BTC is like gold in the crypto world. It's the big daddy and it's not going anywhere, at least, I don't think. If Ethereum blows up, I'm not sure what all these GPUs are going to do. It can't be as simple as "mine the shit out of some other altcoin". They're out there, sure, but Ethereum is the largest and most popular one by far right now. I don't think you can take all those GPUs and throw them at Zcash or something and expect to get anywhere. The profitability on any other altcoin with that many miners on it would be terrible without some significant influx of fiat to back it up. If it can't be mined profitably anymore, they'd either have to pick another coin to be the chosen one, or maybe scatter into the various other coins.

That's the problem with GPU mining, though. GPUs are pretty versatile. They're not Ethereum ASICs. Ethereum just happens to be the best coin right now. That influence can be moved elsewhere to any other GPU mineable coin.

 

[80251]

@hat
That's a depressing analysis. Could this be the beginning of the end of PC gaming we're seeing here? I certainly won't be paying out $1000 to upgrade my GPU every few years.

 

[hat]

@hat
That's a depressing analysis. Could this be the beginning of the end of PC gaming we're seeing here? I certainly won't be paying out $1000 to upgrade my GPU every few years.

Not at all. Mining may be wasteful, but in a way it's inherently designed to prevent too many people from doing it, because the more miners there are, the less everyone gets. Considering that, and also that we're currently in a chip shortage combined with higher than ever demand, I think we're going to reach some sort of equilibrium at some point. Even consoles are hard to find outside of eBay (at inflated prices of course), and nobody is mining on consoles. What we're dealing with is a perfect storm of bad supply and huge demand, miners or no (though they're certainly not helping). That said, I wonder what would happen if crypto disappeared overnight and every miner dumped everything on eBay. I wonder if it would be enough to saturate the market for a while.

 

[TheinsanegamerN]

Watching people seethe over not being able to play the latest bing-bing-wahoo on their consoomer GPUs will never cease to be hilarious.

Like....go outside people. Unless you live in a communist utopia like australia or california, most things are open now. Go out and enjoy the spring weather, forget about GPUs for awhile.

I doubt these people are reporting and paying any taxes on the profits they made, let alone open a company and it paying taxes and dues like all the other stores must. So probably not just people but tax evaders as well.
Sure you can sell your old GPU in the second hand market, but if you buy and sell new stuff with the express reason to make money of such trades you are basically a store - unregistered, and not paying taxes, while your clients are not protected with the consumer protection laws since you are officialy not a store.

Holy red herring argument batman.

Not at all. Mining may be wasteful, but in a way it's inherently designed to prevent too many people from doing it, because the more miners there are, the less everyone gets. Considering that, and also that we're currently in a chip shortage combined with higher than ever demand, I think we're going to reach some sort of equilibrium at some point. Even consoles are hard to find outside of eBay (at inflated prices of course), and nobody is mining on consoles. What we're dealing with is a perfect storm of bad supply and huge demand, miners or no (though they're certainly not helping). That said, I wonder what would happen if crypto disappeared overnight and every miner dumped everything on eBay. I wonder if it would be enough to saturate the market for a while.

We know exactly what would happen. We saw it after the first boom, where the price of the mighty 290x went from $750+ to $199 brand new in a matter of months, and stayed there for the rest of that GPU generation, somewhat bleeding into thenext generation.

 

[hat]

Watching people seethe over not being able to play the latest bing-bing-wahoo on their consoomer GPUs will never cease to be hilarious.

Like....go outside people. Unless you live in a communist utopia like australia or california, most things are open now. Go out and enjoy the spring weather, forget about GPUs for awhile.

Holy red herring argument batman.


We know exactly what would happen. We saw it after the first boom, where the price of the mighty 290x went from $750+ to $199 brand new in a matter of months, and stayed there for the rest of that GPU generation, somewhat bleeding into thenext generation.

Maybe, but this time it's different. This time we have a pandemic driving huge demand and less supply.

On that note, I find it odd that on a tech forum that is quite focused on gaming, we have people coming in and calling out those of us who are upset we can't get a graphics card (without paying 3-4x the price) like we're a bunch of crybabies or something. You guys do realize that a lot of us are already here anyway because we like to game, right? Some of us even like high powered components and never play any games. Combine that with the pandemic, which is still going on by the way, which is giving a lot of people all over the world increased interest in gaming, because there's not much else to do, and the supply constraints... What do you want us to do? Play solitaire all day?

I mean, my GTX 1070 (and PS2/PS3) are doing just fine, but I get it. Maybe some of us aren't happy with the performance of even high end Pascal and want an upgrade. Maybe some of us have something even slower and passed up on Turing (affectionately dubbed "Turding" by some) because the price/performance was terrible. And now we're here. With nothing to do and nowhere to go with this stinking covid. I'd be pissed too if I had a lessor card and higher performance requirements. This is a PC enthusiast forum and many of us are gamers, I figured most of us would understand that. We're all in the same boat unless you're rich enough to not care or lucky enough to have gotten a decent card at a sane price, in which case, shove off and enjoy your goodies without spitting on the less fortunate from your high horse.

And, again, this is coming from someone who doesn't really give a rat's ass about video card prices right now. I'm happy with what I got, but I understand the frustrations of those who aren't. Take a good look around and you'll see people trying to make do with what they have. There's been a sharp increase lately in threads about "bought a fake graphics card" or "help me clock the dog shit out of my GT730". Some people aren't able or willing to pay these prices. And should we have to? Should it really cost $1000 just for a midrange graphics card to be able to play video games from this decade? I don't think that's a big ask.

 

[Legacy-ZA]

I dont think you fully know what the word extortion means. Nobody is forcing people to buy GPUs at high prices. If a person wants to buy a 1030 at $500, let them, its their money. If they got that money in a legal way, they can do what ever they want with it.

I don't think you fully know what: "This is close to Extortion" means.

 

[nguyen]

Good news, the 3080Ti will be hashrate limited just like the new 3060 SKU.
This time the nerfing mechanism is built into the silicon themselves as flashing BIOS and using the 470.05 driver won't work
Igor's lab 3080 Ti anti-mining

 

[64K]

Good news, the 3080Ti will be hashrate limited just like the new 3060 SKU.
This time the nerfing mechanism is built into the silicon themselves as flashing BIOS and using the 470.05 driver won't work
Igor's lab 3080 Ti anti-mining

That is good news indeed. I hope Nvidia will spread this to the 3060, 360 Ti, 3070 and 3080 as well.

 

[Legacy-ZA]

Good news, the 3080Ti will be hashrate limited just like the new 3060 SKU.
This time the nerfing mechanism is built into the silicon themselves as flashing BIOS and using the 470.05 driver won't work
Igor's lab 3080 Ti anti-mining

Here is hoping; I guess, if anything, now I might get my hands on a 3070Ti instead of going for the 3070. In my opinion, the 3070 is a great card, but, there is a big gap between it and the 3080, if the RTX3070Ti is going to slot in nice in between the middle, it will make for a great 1440p high refresh rate card, well, depending on the game of course, but it will be a great card for a long time.

 

[64K]

Here is hoping; I guess, if anything, now I might get my hands on a 3070Ti instead of going for the 3070. In my opinion, the 3070 is a great card, but, there is a big gap between it and the 3080, if the RTX3070Ti is going to slot in nice in between the middle, it will make for a great 1440p high refresh rate card, well, depending on the game of course, but it will be a great card for a long time.

That will be a massive upgrade for you from your 660 Ti 2GB

 

[xorbe]

It was also cracked independently from that leak.

Please provide link to proof. As far as I know, nobody has cracked nVidia's signed and encrypted blobs.

 

[qubit]

Please provide link to proof. As far as I know, nobody has cracked nVidia's signed and encrypted blobs.

I can't be bothered. I read it in a news story over the last couple of weeks. Feel free to Google it if you want.

 

[TheoneandonlyMrK]

Please provide link to proof. As far as I know, nobody has cracked nVidia's signed and encrypted blobs.

It only limits one out of 1000 coin's , it's even less of a big deal than you think to still mine on them anyway.

 

[xorbe]

It wasn't cracked. This thread is literally about the actual issue that nVidia inadvertently released 470.05 which bypassed the limiter.

 

[TheOne]

I can't be bothered. I read it in a news story over the last couple of weeks. Feel free to Google it if you want.

NVIDIA GeForce RTX 3060 Anti-Mining Feature Bypassed by HDMI Dummy Plug

When NVIDIA introduced its GeForce RTX 3060 graphics card, the company also introduced a new feature to go along with it. As the card is priced well, it is positioning itself as a very good value offer for mining. Given that NVIDIA has now separate products for mining, it naturally would like to...

www.techpowerup.com

 

[xorbe]

That's the corner case that I mentioned, again the signed and encrypted blob wasn't cracked. But that corner case requires an expensive board with full width pcie lanes for each card, which makes it unattractive.

Link me a crack that I can flash a 3060 with. It doesn't exist.

 

[qubit]

NVIDIA GeForce RTX 3060 Anti-Mining Feature Bypassed by HDMI Dummy Plug

When NVIDIA introduced its GeForce RTX 3060 graphics card, the company also introduced a new feature to go along with it. As the card is priced well, it is positioning itself as a very good value offer for mining. Given that NVIDIA has now separate products for mining, it naturally would like to...

www.techpowerup.com

@xorbe here you go, courtesy of @TheOne. It doesn't matter that it's not a bios flash. The point is to get past the restriction which these dummy plugs do, doesn't matter how.

 

[trog100]

something has to happen.. you cant price a product at less than half what the market will bear.. a 3070 graphics card now has a used UK ebay price of £1300 quid..

some of these cards may pass though the hands of retailers and even gamers on their way to ebay but ebay is where they will all end up..

will the coming 3080ti get nerfed.. somehow i doubt it but the msrp price will be much higher whatever happens..

trog