"Mining" Graphics Cards... What?

Discussion in 'Mac and PC Games' started by gkarris, Jul 22, 2017.

  1. gkarris macrumors 604

    gkarris

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    #1
    Went to Micro Center a couple of weeks ago. At the PC Parts Department, where are all the mid-range GPU Cards? :eek:

    They only had in stock the ones around $100, and the ones $600+ :eek:

    I went home - my RX 470 4Gig goes for around $300? (Got mine around release Open-Box for $175)

    Mining? Like a specific card for playing Minecraft?

    I did try to do a search and found "discussion" at the Mac Pro Thread - didn't really understand what it is.

    Did a Google search - found videos - boring - reminded me of my Theoretical Computer Science lectures (snooze) and didn't really understand "Why".... since I'm a Gamer - do I even care?

    I feel sorry for someone who wants to build a decent budget priced Gaming PC...

    If anyone "in a nutshell" can explain or point me in the right direction.

    Thanks!
     
  2. Significant1 macrumors 6502

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    Dec 20, 2014
    #2
    No, not Minecraft, but for mining digital currencies like bitcoin etc.

    They don't need many display ports or fast bus-interface. They just need processing power. So they can trim some of the cost.

    Similar there also start to show up specific mining motherboards with more, but slower pci-slots and everything else cut down to a minimum.
     
  3. gkarris thread starter macrumors 604

    gkarris

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    #3
    I don't get "mining" as in getting paid - cash?

    Why would anyone do this? Why would anyone pay someone to do this? Whatever it seems to be what they are doing...
     
  4. Significant1 macrumors 6502

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    #4
    Where have you been hiding. Bitcoin and other decentral Blockchain currencies have been raving the news the last couple of years. Not least because it is widely used by criminals, e.g ransomware. But also because it will disrupt the whole banking system in the future.
    https://en.wikipedia.org/wiki/Blockchain
    https://en.wikipedia.org/wiki/Bitcoin#Mining
     
  5. gkarris thread starter macrumors 604

    gkarris

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    #5
    Thanks for the info. Still, CompSci Theory to me...

    So, people monitor these and Ethereum and Bitcoin transactions and steal from it? (mining?)

    Companies "make up" a new currency because they can?

    http://www.cnbc.com/2017/07/21/ripp...e-3977-percent-in-the-first-half-of-2017.html

    So, Microsoft and Apple can "make up their own currency" if they want to... :eek:
     
  6. Significant1 macrumors 6502

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    #6
    Mining is not stealing.

    Yes, they could make their own currency. But like other currencies, people must have trust in it, to have any value.
     
  7. kiwipeso1 Suspended

    kiwipeso1

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    #7
    As in, Mining Ethereum. Which was almost worthwhile for several months until the latest price crash.
    Basically some idiots thought they could cash in on geek money, then they found their ICOs were getting money stolen.
    Now Ethereum isn't worth mining again, so check e-bay for used video cards that have been heavily used if you want to get a bargain.
    --- Post Merged, Jul 23, 2017 ---
    Mining is the processing of transactions in a distributed pool to check and confirm they are correct.
    This is known as trustless money, or the opposite of what banks do to transfer money.
     
  8. 960design macrumors 68020

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    #8
    You are mining for Bitcoins which are worth alot of money. If you do it correctly, you can make a couple dozen dollars a day over the electricity and equipment costs. Back in the day you could mine with a basic old computer, now you need specialized equipment to make any money.

    Google Bitcoins for more information:
    Here is the current value ( be sure to click 1Y to see how fast it has gone up in the last 6 months ):
    https://www.coindesk.com/price/

    Little story for you:
    Back, back in the day a gentleman purchased 2 pizzas for 10,000 bitcoins. Those bitcoins, if he would have held on to them are now worth about $25 millions US dollars. That is an expensive pizza.
     
  9. Macx80 macrumors newbie

    Macx80

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    Jul 14, 2017
    #9
    Strange way to make money... i don't understand too much way it work...but anyway.
    Iam here for a advice and i need a fast answer ! cards sold out every were in the last days..
    today i saw on amazon.ca the evga gtx 1050 ti ssc going from 232$ to 390$ !!!!that completely insane!!:eek::eek::(
    It all sold out on newegg.ca, i found this card at 236$ on a website local in my city, 236$ is best price i saw now aim better take it now or wait nvidia make new budget card? even at this price it overpriced, original price was 186$.
     
  10. theluggage macrumors 68030

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    #10
    If you want a "lies to children" version: imagine a currency based on something mathematically hard to discover, like large prime numbers, rather than physically hard to obtain (like gold). You make money by discovering new prime numbers (or whatever).

    Essentially, you provide the computing hardware for solving the computationally difficult problems involved in processing transactions in the electronic currency. Your reward is that the process generates "newly minted" Bitcoin/Etherium/whatever. Its all set up as a rather elegant distributed system with no real central hub or authority and "mining" is an intentional way of gradually introducing new "coins" into the system.

    GPU hardware happens to be ideal for the type of computation involved (actual graphics doesn't come into it) - you can build a little supercomputer with a bunch of affordable graphics cards.

    (I preferred the Minecraft idea - I want to be paid for my stockpile of diamonds and ghast tears. However, the whole virtual property thing seems to have gone the way of Second Life and World of Warcraft.)
     
  11. kiwipeso1 Suspended

    kiwipeso1

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    #11
    Oh, and the really stupid thing is that the cryptography problems being solved to mine the currency only have value if you want to have a rainbow table of possible infohashes for things like app store receipts.
    Basically, that is the only point of value to bitcoin mining, solving digital transaction receipts on infohashes.
    Nevermind that the infohashes are of very limited timeframe, they will keep going until 2140.
    That is essentially the only point of bitcoin, a public database of all possible infohashes for a particular algorithm used for app store receipts, essentially giving a permanent free access to paid software from Apple, Microsoft and Steam.

    Of course, it is entirely pointless once the algorithm changes to use a different type of infohash, which is likely in the medium term.

    What is yet to be realised is that the top ten currencies tend to be over-inflated by Initial Coin Offerings in rubbish schemes like Dentacoin, aimed at currency for dentists and oversubscribed compared to market value, then sold for crummy tokens in exchange for mainstream currencies on the basis of nothing more than a sales pitch and a whitepaper.
    (Seriously, there are gimmicky crap coins which are completely pointless for everyone else, yet they get funding by suckers.)
    It is fair to say that most currencies are not worth it, especially at the moment bitcoin and ethereum.
    Bitcoin is currently about to split at the start of august, removing the main point of value growth.
    Ethereum is still failing to work reliably on transferring value, due to a silly programmable bug that allows joint accounts to be raided. Currently, several ICOs have been raided for millions of fiat currency equivalent this year thanks to either multisignature bugs in Ethereum shared accounts, or simply changing the address listed in an ICO.

    And yes, there are some ICOs which have gaming tokens for virtual property in game, or casino chips.
    Usually the casino chips get stolen quicker than other ICO tokens.
     
  12. Cougarcat macrumors 604

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    Sep 19, 2003
    #12
    Unfortunately there is no "fast answer." This is literally the worst time to buy a graphics card. You're going to have to wait until the craze ends. This has happened before, back in 2014 I think. If I had to get something now I'd try to find an older card on eBay, but even then you'll get ripped off. Looks like what I have, a 970, is going for about $200, and it was ~320 two years ago. But that card will still play anything on high at 1080p. A 970 is much better than a 1050 Ti, so $236 CA for one is even worse.

    The good news is that when the craze ends the used market will be flooded with cards, so you might be able to score something cheap.
     
  13. kiwipeso1 Suspended

    kiwipeso1

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    #13
    Check the price of Ethereum daily, when it is low enough people will sell off their GPUs in bulk, as it won't be worthwhile mining Ethereum for less than $5 per day.
     
  14. Macx80 macrumors newbie

    Macx80

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    Jul 14, 2017
    #14
    Ok i might look at used but i am not sure, i am scared to buy one and 3 months later it die because it was one of those card that some one run it 24/24h 7days a week for mining. Video card are not eternal. i Prefer "new".
    But tanks for the help.
     
  15. gkarris thread starter macrumors 604

    gkarris

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    #15
    Ah, great explanation....

    So, how does one turn this into cash?
     
  16. gkarris thread starter macrumors 604

    gkarris

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    #16
    The Microcenter by Chicago I frequent has a few 1050 Ti's in stock for US$149 - looks like you gotta get there asap and grab what's in stock when they get them in...
     
  17. carestudio macrumors 6502

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    #17
    New to bitcoins but if I were Nvidia or AMD, I might be able to mine lots of coins?
     
  18. T'hain Esh Kelch macrumors 601

    T'hain Esh Kelch

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    #18
    Simple, you sell your bitcoins at stock exchanges for whatever other currency you want. You essentially have a digital wallet with your bitcoins. Bitcoin, and other cryptocurrencies, are agressively becoming standard accepted currencies, so a Bitcoin/USD exchange is as normal as a USD/GBP exchange for instance. Many websites already accept bitcoins as accepted payments for real life goods and services.

    But until Bitcoin stabilises, you'll want to hold on to them. They are still rising in price, since the market is trying to figure out their real worth. Until cryptocurrencies gets accepted at national levels (Or rejected!), it is still doubtfull what their real price will be. But since everybody likes a non-regulated currency, not in control of any government, cryptocurrencies are on the rise.
    --- Post Merged, Aug 16, 2017 ---
    Yes, but the market may crash in 14 days, leaving them with a big loss. Also, I don't think their stock holders would like them going into such a fluctuating market, instead of the safe bet of earning money from selling the cards instead.
     
  19. gkarris thread starter macrumors 604

    gkarris

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    #19
    I saw a guy on YouTube with a setup in his room and he had "dozens" of RX 470's and 480's. He had to have a portable room air conditioning unit in there as well. BIG $$$$...

    He showed a month of his electric bill - $800.... :eek:

    I hope he's making a lot of money for all that..
    --- Post Merged, Aug 18, 2017 ---
    BTW:

    I was at MicroCenter yesterday and they had 8Gig RX 470's "on sale" for $280. They had about a dozen.

    http://www.microcenter.com/product/...verclocked_Dual-Fan_8GB_GDDR5_PCIe_Video_Card

    Pretty good price seeing the way GPU cards have been lately.
     

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