Nvidia launched the CMP production line of dedicated cards for Ethereum mining. Will the miners buy it?
Since the beginning of January 2021, the price of Ethereum has increased by 170%, but the computing power of the entire network has only increased by about 35.7%.
You know, the last time Ethereum skyrocketed (the end of 2017-the beginning of 2018), the computing power of the entire network rose by 83%.
Why can’t it be pulled this time? The answer is obvious: the capacity of graphics cards cannot meet the needs of miners.
Luo Yonghao grabbed the graphics card in the live room instantly after it was put on the shelves
Ethereum’s skyrocketing soaring makes miners who want to take the opportunity to enter the market and want to expand the scale to grab the red eye, grabbing the graphics card to grab the game book.
Gamers are miserable. Like the RTX3080 graphics card originally priced at 5499 yuan, it has risen to more than 10,000 in the second-hand market, and they still can’t get it. Who still plays this “game”?
Miners install gamebook mining
In order to allow gamers to buy graphics cards, NVIDIA announced on its official blog on February 18 that it had decided to open a production line of dedicated cards for Ethereum mining-CMP HX. Moreover, in order to reduce the interest of miners in graphics cards, the mining rate of graphics cards released later will be halved.
This makes gamers excited: Now we can grab the graphics card, right?
But friends of miners looked at this matter more cautiously:
Can the mining performance of CMP achieve the same effect as the game card? Is there a price advantage? Is it worth buying?
These questions, let us find the answers from the official information released by NVIDIA.
First, let’s take a look at the specifications of the CMP HX series products announced by Nvidia:
It can be seen from Nvidia’s specification design for CMP series products that he fully considered the size of the DAG file. The minimum video memory is 6GB, which is undoubtedly born for Ethereum.
According to the specifications of CMP HX, we can roughly calculate the income of each card:
*Note: The revenue per M of computing power is calculated at US$0.12 or 0.76 yuan (data from okkong.com, February 22 PM), the electricity fee is calculated at US$0.052 or 0.34 yuan/kWh.
Comparing the current mainstream graphics cards used by miners, we can roughly predict the popularity of CMP in the miners world in the future.
In terms of power consumption ratio, CMP’s best 90HX only surpasses RTX2080Ti, and none of the other models can beat.
From the point of view of profitability, 90HX is OK, and the other models can’t keep up with RTX2080Ti.
Unless CMP HX is very cheap, it may not be able to impress miners.
Some netizens speculate that the 90HX with the highest mining rate is about $600, which is similar to the official price of the RTX3070. But when it comes to the second-hand market, who knows what it will grow into.
Therefore, if CMP is produced for miners and the mining rate of graphics cards is limited, the situation of graphics card rush may still not be resolved.
The reasons are as follows:
i. CMP cannot feed miners
As long as the price of Ethereum exceeds $1,000, the Ethereum mining market will continue to skyrocket, and CMP will not be able to feed miners at all.
So although Nvidia expressed in its official blog, “We have taken an important step (restarting the CMP production line) to ensure that the GeForce GPU will eventually fall into the hands of gamers.”
The market trend may not be what he wants, and it will not fundamentally change the status quo of market supply and demand in the short term.
Don’t think that with CMP, miners can be confident in Versailles: “Oh, it’s annoying whether to buy a graphics card or a CMP?”.
If you hesitate for a second, you won’t be able to buy either.
So some people have to ask, the new graphics cards all limit the mining rate, can I pay back if I buy it?
ii. The driver that restricts mining can be cracked
Nvidia wrote in the announcement: “The RTX 3060 software driver is designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm and limit the hash rate or cryptocurrency mining efficiency to around 50%.”
What does this announcement mean? The editor will translate for the big guys: NVIDIA will reduce mining efficiency through graphics card drivers.
Miners who have studied a bit may know that the graphics card driver can be cracked.
The GTX1060 mining card that NVIDIA released a few years ago was cracked by the Great God, and it was implanted with the BIOS of a normal 1060 graphics card and a modified notebook graphics driver, so it can be used as a normal graphics card.
After all, mining revenue can be doubled after cracking. Although it is very difficult, there will still be many miners coming forward!
Even if we can’t crack it, we can still wait for the price of the currency to rise to only half of the computing power and still make money.
iii. It is difficult to get a mining card, and miners will choose more carefully
The advantage of the game card is that it is very easy to sell. If you encounter a mining disaster, you can sell it to game players at the original price or even value-added in the second-hand market.
However, the second-hand mining card has a narrow purpose and does not have such a high value.
Taking into account the issue of future shots, the miners will also be more cautious when starting.
For the above reasons, even if Nvidia develops a production line specifically for miners, it may not be able to satisfy the mining market in the short term, nor reduce miners’ interest in game cards; but in the long run, they do “take an important step” “.
It is reported that CMP HX will be released in Q1 and Q2 of this year, and the editor will continue to pay attention to reports that bring you the latest developments.
Netflix may be the next Fortune 100 company to buy Bitcoin
Billionaire Tim Draper said that Netflix may be the next company in the Fortune 100 to buy Bitcoin (BTC), and Amazon will have to accept it.
On the “Unstoppable” podcast on February 28, the serial investor and Bitcoin holder predicted that among all possible candidate companies, he chose Netflix to include Bitcoin on its balance sheet.
Draper: Netflix “may become the next big company to buy Bitcoin”
He said, “Do you know who it might be? Netflix.”
“I think Reed Hastings is a very innovative person with a lot of creative ideas. I think he still controls Netflix, so I think Netflix may be the next big company to buy Bitcoin.”
Before this prediction appeared, there were signs that institutions continued to buy Bitcoin at the current price. In the past week, Coinbase Pro had several large transactions with a price of $48,000. Both MicroStrategy and Square increased their positions.
As a consistent optimist, Draper also believes that Amazon will add a direct Bitcoin payment option in the future.
He said: “Amazon may soon start accepting Bitcoin.” He pointed out that for many years, consumers have been able to use cryptocurrency to purchase products indirectly.
Amazon’s blockchain hosting service already supports the Ethereum network.
Bitcoin price exceeds weekly high
At the time of writing, Bitcoin broke through to a high of $52,500, which is the highest level since February 25.
Famous trader Scott Melker summarized the information about overnight trading. He said: “It’s all going well.”
“Bitcoin price has broken through the two patterns of flag and descending channel. The price is currently above the 50% retracement level of the entire trend, so staying above $50,600 will be very bullish. Let us maintain this momentum.”
Earlier, Cointelegraph emphasized that the stagnation of the U.S. dollar is a catalyst for short-term Bitcoin gains.