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The GPU shortage might be over soon
Koopacabras May 22, 2021
Quote"Ethereum will be completing the transition to Proof-of-Stake in the upcoming months," Carl Beekhuizen, Ethereum Foundation, says in a blog post,

Proof-of-stake, if successful, would cut Ethereum's power use by up to 99.95%, the foundation claims.

But what happens to all the miners when proof-of-stake inevitably happens?


Either miners can pack up shop, sell their GPUs for a quick buck second-hand, and move on with their lives. Or they move to one of the many, many alternative cryptocurrencies out there that are still happily mining away.

There will likely always be cryptocurrencies that use the tried-and-tested proof-of-work approach to get off the ground, which means we'll never quite be free of the cryptocurrency's power and hardware requirements entirely.

But these altcoins still have to prove themselves profitable to see the graphics card river run dry, and in that there's some hope for affordable GPUs sometime in the next few years, even if proof-of-stake may not quite the magic fix-all we're praying for.

source : https://www.pcgamer.com/ethereum-set-to-kill-graphics-card-mining-in-the-upcoming-months/

Last edited by Koopacabras on 22 May 2021 at 6:33 am UTC
Valck May 22, 2021
Interesting piece of news; the GPU shortage (and chips of all kind in general) sucks, but what irks me most is the spitting-in-the-face of those miners, burning megawatts of energy in the face of the most severe crisis our planet has ever seen – of which it has only begun to see the first signs.
Anything is welcome that makes that idiocy go away or at least subside, if only by the tiniest amount.
Samsai May 22, 2021
Quoting: ValckInteresting piece of news; the GPU shortage (and chips of all kind in general) sucks, but what irks me most is the spitting-in-the-face of those miners, burning megawatts of energy in the face of the most severe crisis our planet has ever seen – of which it has only begun to see the first signs.
Anything is welcome that makes that idiocy go away or at least subside, if only by the tiniest amount.
Don't worry, even though they might eventually stop eating up all of the GPU supply to run meaningless cryptographic computations to burn up energy, they'll just move onto doing things like buying up the entire SSD and HDD supply to store random garbage on them a la Chia. All of this to probably power the "ownership" of a low-res JPEG file that you will lose when nobody bothers to retain it on IPFS anymore. And the value of that low-res JPEG is probably in the millions, because they've got to justify the system somehow, and I guess an incredibly slow image board is just the proof of concept they need.

But in the meantime I guess we can pat the Ethereum designers on the back for reinventing the wheel of the modern financial system, where the amount of money you have directly dictates how much power you have over the system. It's really disruptive stuff, almost like when they did away with transaction fees by implementing transaction fees, did away with banking by inventing banking and eliminated bank robberies by having their banks be robbed.

Last edited by Samsai on 22 May 2021 at 1:05 pm UTC
CatKiller May 22, 2021
"imagine if keeping your car idling 24/7 produced solved Sudokus you could trade for heroin"
Shmerl May 24, 2021
I hope so. Still waiting to get a new AMD GPU.
sr_ls_boy Jul 21, 2021
Bitcoin fell below 30k in USD. I'm wondering how the miners will respond to this.
GustyGhost Jul 21, 2021
No shortage in the used and refurbished space.
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