MooCow
Prominent Member
Thanks, didn't know that.Crypto mining uses as much energy as the whole of Denmark does each year, that is a lot more than a single percent of energy wastage.
Thanks, didn't know that.Crypto mining uses as much energy as the whole of Denmark does each year, that is a lot more than a single percent of energy wastage.
Not sure the energy use is much of a big deal to be honest, compared to a small ish workplace like mine who even on a nighstshift the average use mayb as much a 350kw+ average constant and thats just one place in the whole country so what is a few gpus here n there running even matter.
I could mine a multi gpu setup at work and nobody would even notice it's such low powrr in comparison (and ive thought about it)
Energy consumption is something to be concerned about though. Sure adding a couple of boxes here or there especially if there is already considerable load isn't going to make a difference there. However if lots of people do it is the scale that is an issue.
A recent report I read reckoned there was a lot of assumptions you could make but 3.4GW was mentioned as a useable figure that's nearly 10,000 of your data centres... That is just bitcoin
It's wasted energy imo and it only gets worse as you throw more processing power at it and the difficulty increases leading to more power consumption.
The very good thing about mining is that used cards that are one or two generations old will be dirt cheap, as without the latest gear miners can't keep up. For those people buying $100,000 worth of cards they will have to upgrade them every year. This is because for the same price of electricity the cost is just not worth not upgrading for the increased computing power. So except for the gaming elite, or those people who are typing their clan/guild/whatever, in the long run this will make an abundance of cards easily available to many people for less money. Used cards at some point, will be easily able to do most graphics on 4K machines.So what is the point inprople buying mining rigs? Last time I paid any attention it was people mining for coins.
Conversely, the higher the price, the more likely they'll have some in stock.Supply and demand. The more people who buy cards, the higher the price becomes because of greedy retailers.
That increase in power consumption for every bitcoin though means that there is a ceiling. There will come a point when mining the coins costs you the same or more than the electricity to get it, so ultimately it either peters out
I will be laughing so hard within 10 or 12 years when quantum computer which is 100 million times faster is all the rage, GPUs will be a thing of the past,and most any encryption that is done today will be easily broken without extreme upgrades. Bitcoin has already been hacked once. Unless there's a physical Item to back up money, It's all prone to being hacked.
Besides all this crypto it's a bubble. It was up to $20,000, now down to $11,000. That's bitcoin. There's new crypto currencies being developed all the time. Even Ecuador has her own crypto currency what you're trying to get rid of physical money, but people I resistant to it heavily because it's so easily manipulated. Money used to be based upon the gold standard, and now it's based upon goods traded and the value of work. What is crypto currency based on? the ability to spend lots of money on CPU time, electricity, and hardware, in a get rich scheme, with almost no countries endorsing any single standard. it's truly a pyramid scheme. The first people in a new crypto currency become the richest and the last spending megadollars on getting coins are the ones that are the fools.
It's pushed gpu prices through the roof. My 1080 ti cost me £750 last year and the price is now £1990. That is insane
I will be laughing so hard within 10 or 12 years when quantum computer which is 100 million times faster is all the rage, GPUs will be a thing of the past,and most any encryption that is done today will be easily broken without extreme upgrades. .
Does the Xbox X pay for itself when you're not using it , the GPU will over time when put to minnig.... just saying!Just before all the prices started exploding, I had saved almost £500 for a new card. Now an Xbox X looks more attractive.
You can only invest if you can afford to invest though. I'm not in a financial situation where I can throw down £700+ on a card that could make me money but might not.Does the Xbox X pay for itself when you're not using it , the GPU will over time when put to minnig.... just saying!
You can only invest if you can afford to invest though. I'm not in a financial situation where I can throw down £700+ on a card that could make me money but might not.
It's more that I'm looking to upgrade my card (currently a 1060 6gb) for gaming though, not for mining.you can pick up old gen cards for peanuts. 980ti's for instance for like £250. i don't know why people insist on buying brand new especially with these prices.