News Cryptomining Firm Purchases Site With 223,000 GPUs

2Be_or_Not2Be

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Cryptomining is pretty much the primary reason why the mfgs can't catch up to demand. It doesn't matter if the GPUs are dedicated to mining cards or if they were ones put on "retail" boards, but they're being ordered in large qtys from the AIBs/distributors. The AIBs/dists don't say too much about it because they are greatly profiting from the large buys from large-scale miners. But when you read these articles, it becomes very obvious why you can't find GPUs readily available at MSRP.
 

andrewkelb

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The GPU industry feels like its becoming the crypto mining industry, I would love to see a break down of gamers vs miners, who are getting the GPUS in the current GPU generation.
 
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excalibur1814

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eBay seems to be settling 'a small amount'. More and more cards are hitting Buy It Now and the last few, I hope, people willing to pay STUPID cash have bought their cards.
 

USAFRet

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We need legal sanctions & regulation for AIB & GPU vendors to BAR/BAN any sales directly to ANY Crypto Miner or ANY data center that does Crypto Mining.
Sanctions and regulations in what country?
And to what end result?
"Waaa...they're selling too many to people not like me."

(just playing devils advocate...I don't like it either)


Any "law" crafted carefully enough to prevent this would be worked around. Or just ignored.
 
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Kamen Rider Blade

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Sanctions and regulations in what country?
And to what end result?
"Waaa...they're selling too many to people not like me."

(just playing devils advocate...I don't like it either)


Any "law" crafted carefully enough to prevent this would be worked around. Or just ignored.
Doesn't mean we shouldn't try.

It doesn't make any sense to regulate companies from selling to miners without first having some sort of regulations on miners themselves.
We also need to regulate miners as well along with Crypto Mining.
 
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I think banning cryptomining is the wrong move. Nintendo sold over 300,000,000 Wii systems in five years & would not have been susceptible to mining, scalpers or Datacenters. The industry is lead at the top who decides how things go & this is what they want. They want to keep HPC parts finite for consumers.
 
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Why, specifically, should we "try"?

And how?
Make crypto mining illegal?
The industry makes billions of chips every year for two decades increased every year. Consumers are on hold for as long all facets who benefit at the top is willing to pay several times more than what consumers can at The very least.
 

Kamen Rider Blade

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Why, specifically, should we "try"?

And how?
Make crypto mining illegal?
Make legislation to inhibit Crypto and limit Crypto's useful-ness.

No need to make Crypto Mining Illegal, just HIGHLY regulate the hell out of it!

  • Make Federal Laws that prevent Business Entities, Banks, Retailers, Organizations from accepting or dealin in Crypto Currency in any way, shape, or form.
  • All Crypto Exchanges must deal in CASH ONLY when exchanging __ Crypto Currency for real money. No direct deposits your bank accounts, no direct transfer to vendors, banks, retailers. All transactions must be logged and auditable by the IRS. Crypto Exchanges must be licensed by the government with a HIGH amount of over sight and paper work trail.
  • All GPU Vendors & AIB partners will be regulated by the Federal Government to these restrictions / sanctions
  • Not sell to any CPU's, GPU's, FPGA's, or ASIC's to ANY Crypto Firm, Data Center, individual, Business, or entity dealing in Crypto Currency
  • No Fab's will be allowed to do business with anybody in the Crypto Currency Market under similar restrictions as above.
  • If we can legally limit sales to China and prevent them from buying certain Electronics hardware, we can do the same for Crypto Currency
  • All individual sales of GPU's must be limited to 1x VideoCard per person with a 2^32 ms cool down before they can buy another discrete GPU/Video Card. Information must be logged by the retailer that sold you the GPU / VideoCard and the cool down must be enforced business wide at all locations and online.
  • All Crypto Mining must be licensed & regulated by the Government to use old & retired Electronics / PC hardware that is at least 10 years old and set for retirement / resale / recycling bin if they were not sold to a regular consumer. A inventory must be kept, logged, and validated against that the licensed Crypto Mining firm is using old PC hardware that was set for End of Life. No new PC hardware or Electronics is allowed to be used for Crypto Mining.
  • All Crypto Mining must use low grade & low quality Green Power Sources on their own private Electrical Grid and not pull any power from the public Electrical Grid.
  • Any water usage must be properly recycled and not wasted or over used.
  • All Crypto Currency will be treated as similar to stocks and is taxable and will be reported to the IRS via standardized tax forms based on the Crypto Currency Exchange that you used to get real currency.
 
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LolaGT

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We should have these exact same restrictions and regulations for gamers. One should only be able to purchase games based on a hardware tier that the user can verify through a governmental agency, and a licensing requirement so the "wrong" people aren't playing games they should not be playing. .

just HIGHLY regulate the hell out of it!
 
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restartc93

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Nov 1, 2018
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Here my proposal:
Every citizen of the planet can buy 1 cpu and gpu every 5 years for mrsp or even with discount without queueing and waiting.

For everyone else fabs can make price as high as they want.

I have 11 year old pc now. Wanted to buy new last year with new 30x graphics. This is just <Mod Edit>
 
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USAFRet

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Make legislation to inhibit Crypto and limit Crypto's useful-ness.
Why?

All transactions must be logged and auditable by the IRS.
Far too US centric

All individual sales of GPU's must be limited to 1x VideoCard per person with a 2^32 ms cool down before they can buy another discrete GPU/Video Card.
If I was the IT manager/purchaser for a large architectural company, and wanted to build up 40 new workstation, I'd be pretty pissed.

All Crypto Mining must use low grade & low quality Green Power Sources on their own private Electrical Grid and not pull any power from the public Electrical Grid.
What makes "green power" 'low grade and low quality'? The electrons are different?
 
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TJ Hooker

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Make legislation to inhibit Crypto and limit Crypto's useful-ness.

No need to make Crypto Mining Illegal, just HIGHLY regulate the hell out of it!

  • Make Federal Laws that prevent Business Entities, Banks, Retailers, Organizations from accepting or dealin in Crypto Currency in any way, shape, or form.
  • All Crypto Exchanges must deal in CASH ONLY when exchanging __ Crypto Currency for real money. No direct deposits your bank accounts, no direct transfer to vendors, banks, retailers. All transactions must be logged and auditable by the IRS. Crypto Exchanges must be licensed by the government with a HIGH amount of over sight and paper work trail.
  • All GPU Vendors & AIB partners will be regulated by the Federal Government to these restrictions / sanctions
  • Not sell to any CPU's, GPU's, FPGA's, or ASIC's to ANY Crypto Firm, Data Center, individual, Business, or entity dealing in Crypto Currency
  • No Fab's will be allowed to do business with anybody in the Crypto Currency Market under similar restrictions as above.
  • If we can legally limit sales to China and prevent them from buying certain Electronics hardware, we can do the same for Crypto Currency
  • All individual sales of GPU's must be limited to 1x VideoCard per person with a 2^32 ms cool down before they can buy another discrete GPU/Video Card. Information must be logged by the retailer that sold you the GPU / VideoCard and the cool down must be enforced business wide at all locations and online.
  • All Crypto Mining must be licensed & regulated by the Government to use old & retired Electronics / PC hardware that is at least 10 years old and set for retirement / resale / recycling bin if they were not sold to a regular consumer. A inventory must be kept, logged, and validated against that the licensed Crypto Mining firm is using old PC hardware that was set for End of Life. No new PC hardware or Electronics is allowed to be used for Crypto Mining.
  • All Crypto Mining must use low grade & low quality Green Power Sources on their own private Electrical Grid and not pull any power from the public Electrical Grid.
  • Any water usage must be properly recycled and not wasted or over used.
  • All Crypto Currency will be treated as similar to stocks and is taxable and will be reported to the IRS via standardized tax forms based on the Crypto Currency Exchange that you used to get real currency.
Exchanges already have to abide by KYC/AML laws and maintain paper trails, and crypto gains are already required to reported as capital gains on your tax return.

As far as the rest of your points, setting aside issues of practicality or effectiveness, where is the justification? What is the basis for applying these laws only to crypto-related activities, rather than any activity that involves large amounts of computation/computer hardware/power draw?

Nobody is going to pass legislation just for the sake of gamers who can't get the toys they want (when they want, for the price they want) because big, mean miners with deeper pockets are buying them all first.

Edit: On a semi-related note, I think it'd be reasonable to look into expanding anti-scalping laws though. There's already a precedent in many places for banning the scalping of non-essential items (i.e. ticket scalping), albeit with varying levels of success, so I think it makes sense to at least try to ban/reduce scalping of other items, even if they're 'luxury' items.
 
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Kamen Rider Blade

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As far as the rest of your points, setting aside issues of practicality or effectiveness, where is the justification? What is the basis for applying these laws only to crypto-related activities, rather than any activity that involves large amounts of computation/computer hardware/power draw?
CryptoCurrency is constantly misused by folks who believe it's anonymous and used to evade financial detection in crimes.
CryptoCurrency has grown exponentially in power consumption since the launch of BitCoin.
CyrptoCurrency is challenging Nation States in the legitimacy of their fiat currency.

Far too US centric
Aren't you retired USAF?

If I was the IT manager/purchaser for a large architectural company, and wanted to build up 40 new workstation, I'd be pretty pissed.
Do we need to make exceptions for companies who are using technology for legit purposes and investigate said company before sales?
Or should we allow those folks to go to a vendor like Dell and have them take care of it and do the basic detective work and background check necessary?

What makes "green power" 'low grade and low quality'? The electrons are different?
The sources of power, like cheap low quality chinese Solar Panels.

Exchanges already have to abide by KYC/AML laws and maintain paper trails, and crypto gains are already required to reported as capital gains on your tax return.
Then it shouldn't be a problem to have Physical Exchanges do paper work before people exchange their local fiat currency for CryptoCurrency and have everything documented.

Nobody is going to pass legislation just for the sake of gamers who can't get the toys they want (when they want, for the price they want) because big, mean miners with deeper pockets are buying them all first.
What about the environmental impact of CryptoCurrency. That should also be a good reason to legislate against them on that ground.
Then their is the common belief (we all know that CryptoCurrency can be tracked) that CryptoCurrency is fully anonymous.
Right now, alot of CryptoCurrency is used in CyberCrime and that's become a larger issue as time has passed.

Edit: On a semi-related note, I think it'd be reasonable to look into expanding anti-scalping laws though. There's already a precedent in many places for banning the scalping of non-essential items (i.e. ticket scalping), albeit with varying levels of success, so I think it makes sense to at least try to ban/reduce scalping of other items, even if they're 'luxury' items.
Anti-Scalping needs to become a Federal Law and have all allied countries participate in Anti-Scalping laws.
There needs to be Price limits like forcing online vendors like Ebay & 1st/2nd/3rd party sellers on various retail websites or physical retailers from selling above MSRP.
That means websites will be required to enforce those limits.
Same with Retailers, Distributors, even GPU makers & AIB partners.

We can make regulation to limit online financial transaction services from charging above MSRP as well.

Even if some random folk wants to go craigslist and risk person to person interaction and private cash transaction; that risk is on them.
There are too many horror stories of things going wrong in those scenarios.
 

USAFRet

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We get it...you don't like mining. I don't either.
But from what I read, you've given zero valid justification as to why, and less than that as to how.

Price fixing, requiring purchasers to go through a couple of "authorized retailers" (Dell, etc), US centric, etc, etc, etc...
 

waltc3

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Until proven, the notion that these GPUs are remotely related to either RDNA2 and RTX3k GPUs is simply rumor. This rumor has yet to be substantiated regardless of how many times we see it repeated. Also, it beggars the imagination to imagine AMD, for instance, selling reference RDNA2 GPUs to these companies at the steep discounts such companies would expect in a bulk purchase, when AMD could flood the AMD Store with all the reference RDNA2 GPUs it can manufacture and sell every one of them at far more profit than bulk sales as theorized in this article would earn them. I'm still sticking with the yield-issue theory for RDNA2, myself. GPUs described in this article are probably not RDNA2 or RTX-3k GPUs--but older stock designed for other purposes, imo.
 

henrytowns

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Simply, if some people start using refrigerators to sleep into and so much so that they are not available for purchase for those who use them for its long established intended purpose, then there's something wrong. The manufacturers should ensure both groups get the same supply, if the latter, not more.
 

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