Bitcoin Forum

News from Nvidia - they are out of the game now. Proof - https://www.ccn.com/nvidia-quits-crypto-due-to-low-profit-not-because-of-decline-in-demand/.

Guys, what do you think about this? I hope that Samsung will not stop developing their chips for miners, because it can cause an alarm on the cryptocurrency market.

Hm ... in gold rush the people selling shovels got rich. Does this mean end of our digital gold rush???  :'(

Why is this the bad news for us? Do you think that more mining machines on the market will help us?

Maybe good news, now my used GPU´s have higher value.

The important thing to note is bitmains profits for sales divison alone was greater than the entire
Nvidia sales from all units by 50 percent.

This from what I am reading does not even add in thier hidden and semi hidden mining ops.

smh

ehh, I call it fake news.

What the fuck is their "Crypto Venture"  The article keeps mentioning it but doesn't say what it is.  For a period of time Nvidia was selling chips specifically to go into mining cards (without display outputs) in order to alleviate that strain miners were putting on the gaming market.  Of course they aren't going to do this anymore;  Buying new hardware to mine is a losing endeavor.

Not even close.  Nvidia's revenue for last quarter was $3.1 billion.

For me it's really good news. This means much less video cards for mining, which will leave the complexity of mining Ethereum or other crypto currency. And this, in turn, will make it possible earn more for those who already have video cards.

Was this in total or for that specific project? They specified that the Crypto Venture generated ~500 million hence the shutdown because Bitmain is a company that is soley focused on Crypto. They cannot compete so they are sticking with what they know.  ;)

They said they are moving out of the mining sphere because of dwindling profit, demand has dropped significantly as mining profits fell

The problem is not really the scarcity of mining cards but mining itself, this is of no consequence if mining were ok. more persons will start mining and difficulty will increase and everything is back to the usual state. There are already enough gpu cards for mining

I have real problems to understand the post you refer to. For example, what does this mean in the linked article:


What kind of crypto related venture Nvidia took part in? And what kind of mining chips are they talking about? I didn't know they had plans to enter the ASIC arena, or did they? On the other hand, the GPU's are made for their primary target: the gaming community. The fact that they are being used in mining is just a side effect of their availability.

Well to quit something they should have got into crypto, so nvidia never quit crypto because they never got into it besides the p102-p04 mining cards which 99% of miners never got to try them hehe, p102 and p104 were totally centralized mining cards, only huge farms got them, so if that is the case I'm glad nvidia quit it hehe, its a favor they did for the decentralized mining community as a whole.

This news literally means nothing. The mining cards were near impossible to get and had dogshit warranties. As someone who mined with 10k plus graphics cards I never even entertained the thought of buying the mining specific versions.

Not really devastating as mining is not as profitable as it used to be and a lot of miners are even considering their GPU cards at some good price.

What on earth are you talking about?  That was total. There is no shutdown.  Nvidia is still making graphics cards and gpus are still being used for mining.  There currently is no extreme demand for graphics cards from miners so they do not anticipate any extra revenue from miners.    Bitmain is a private company so any profits of theirs is purely speculation.

All this means is we wont see those dumb mining GPU's without display ports.... so who cares.

which is actually a good thing, now manufactures have no reason to reduce warranty time. well they might create bullshit around just to reduce it. they have nothing that can prove if a gpu was mining or used for gaming.

Just watch everyone jump back on the bandwagon once the price and profitability start to go up again.   ;D

It means they perfectly know that their new cards are not so good in mining and there is almost no difference with GTX1000 series cards.

I think this is extremely interesting. I was under the intention they were creating a whole new line of GPU's to adhere to the crypto-mining market! My question is, how is the crypto-mining GPU market any less profitable than the gaming GPU market? They sell for really similar costs, and you would think enough people are purchasing their GPU'? Maybe not..? Warranty would surely have to get more strict for crypto-mining applications.

make no sense. better core, faster gddr. Hash will or at least should improve something. maybe software will nee some tweeking afterall.

nvidia made aths on bull market and the mining gpu cards were plundered by miners. after the trend going down all of us lost our hopes from mining revenues. i think this idea will broke again on bull market.

The less cards on the market in theory , the more rewards for the ones left to be used in mining. The fact is I am not seeing it in practice, in fact the difficulty for mining ethereum is skyrocketing day by day.

A mining rig with 6 x Rx 580 can only make 0.50 mBTC daily for a hash rate of 180 mhs. I guess it is game over for mining with Gpu-s.

Not true, the same net hashrate over the month

I am sure that the news is not so bad, just the time of mining video cards has passed, now everyone is buying ASIC miners, and this is progress.

Switching from GPUs and mining at home in a decentralized fashion to putting ASICs into data centers is progress?  :o ??? ::)

Is your first name Jihan?

Not quite sure why everyone keeps going on about the warranty.
I may be wrong, but as far as i understand, If the product is sold in EUROPE, the manufacturer HAS to back a full 12 months warranty, so long as the product has not been tampered with (which would include overclocking, but not factory overclock).
So basically, they have to either repair or replace the card, otherwise it could not be sold in EUROPE as it would not be fit for purpose....

If you look at easycryptohunter for example, they are a UK company specializing in mining rigs, and all their rigs come with 12 months warranty.
I'm guessing it may be different in other parts of the world...don't know

when I buy a 1080ti from evga it has a 3 year warranty.

and I don't have a lot of cheap power but I have some.

so a 3 year warranty =  big value for me.

They don't want to sell shovel chips because everyone was selling too. lol
Why do you have to worry when you can still mine with your own computer.

The more the mining the better but the mining difficulty will continue to rise so it would be very hard for most people that has their own mining rig.