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Are they also raising prices of CPUs? Arm chips? Your argument is based on an assertion that sounds like it could be right, but is it? Hasn't every country in t

Are they also raising prices of CPUs? Arm chips? Your argument is based on an assertion that sounds like it could be right, but is it? Hasn't every country in the world been injecting cash stimulus into people's hands in an epic attempt to boost demand across all industries? Also why are miners the target here. Are there not deep learning, gamers, anything else who also want to use these monsterous compute units? (GPUs specifically). Raising the price is temporary because someday another chip maker can be born. Every day the lithography tech is getting cheaper and cheaper is just a matter of time till this resolves itself. And let me ask, are chips a human right like water and food? We're getting close but honestly life can go on without GPUs can't it?

colejohnson66 5y ago
Miners are the target of anger not (necessarily) because it’s wasted energy,[a] but because them using GPUs creates a self serving cycle: Difficulty goes up, more GPUs are bought to counteract that, repeat. This isn’t helped my the monetary reward for doing so.[b] Deep learning, gaming, etc. are different in that someone doing 2 way SLI doesn’t make others need to do the same. If my online opponents are playing on RTX 3090s, I’m not forced to upgrade to play with them. [a]: The energy usage is a byproduct of the proof-of-work system [b]: hence why things like Folding@home, SETI@home, etc. never gained massive popularity like coins did; they don’t reward you except in feel-good thoughts
- qeternity 5y ago
  > using GPUs creates a self serving cycle: Difficulty goes up, more GPUs are bought to counteract that, repeat. This isn’t helped my the monetary reward for doing so. Not quite. Price continues to go up, courtesy of Tether, which makes the mining rewards more valuable. This encourages new miners to join the network which pushes difficulty higher, until the difficulty level rises such that every unit of output costs more to produce than its worth. Then it's no longer profitable to mine. But again, Tether has no choice but to keep things pumping.
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colejohnson66 5y ago

Miners are the target of anger not (necessarily) because it’s wasted energy,[a] but because them using GPUs creates a self serving cycle: Difficulty goes up, more GPUs are bought to counteract that, repeat. This isn’t helped my the monetary reward for doing so.[b] Deep learning, gaming, etc. are different in that someone doing 2 way SLI doesn’t make others need to do the same. If my online opponents are playing on RTX 3090s, I’m not forced to upgrade to play with them. [a]: The energy usage is a byproduct of the proof-of-work system [b]: hence why things like Folding@home, SETI@home, etc. never gained massive popularity like coins did; they don’t reward you except in feel-good thoughts

qeternity 5y ago
> using GPUs creates a self serving cycle: Difficulty goes up, more GPUs are bought to counteract that, repeat. This isn’t helped my the monetary reward for doing so. Not quite. Price continues to go up, courtesy of Tether, which makes the mining rewards more valuable. This encourages new miners to join the network which pushes difficulty higher, until the difficulty level rises such that every unit of output costs more to produce than its worth. Then it's no longer profitable to mine. But again, Tether has no choice but to keep things pumping.

deleted 5y ago

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