Following recent crypto-currency news, the popular currency known as Ethereum has been driving up GPU prices and demolishing availability, has been hacked. An estimated 153,000 "Ether" has been stolen, with estimates at a value of 32.6 million US dollars.

"The initWallet function should have been marked internal, but was instead not marked. Unmarked functions default to public in Solidity, so anyone can call that function and reinitialize the wallet to be under their control"

Will this be the down-fall of Ethereum? Will we see a sudden surge of cheap, high end GPU's on the markets? One can only hope!

Read more about the wallet hack here.

 

[Bladexdsl]

Paypal has really good customer service.

except when someone buys something off you on ebay and they issue a claim they always get their fucking money back even if you have proof you sent it. fuck paypal

 

[FAST6191]

Paypal is better protected then crypto currency.
The money back be traced back, something that crypto currency can't.

I'm all for digital currencies, don't get me wrong on that.
But having a non-centralized currency with constantly inflating prices...



It's highly unlikely that in this day and age, a robber would successfully pull off a heist.
Chances of being busted are a trillion to one.

It can't be traced back all the time, in fact for anybody competent can probably dodge that. It is more that paypal, credit cards and such will swallow the expense/have insurance against it. If you want to argue that exchanges and online wallets and whatnot should have more protection then so be it, however it is a far cry from that to blaming a protocol.

"But having a non-centralized currency with constantly inflating prices..."
But it is a known variable and a known concept. If I buy shares in a new company they will (hopefully) eventually issue more which devalues mine, however the price would have raised so much that should I sell I will be ahead on the deal and everybody thinks that is a smart investment. Beyond that there are negative lines in exchange rates for any exchange you care to look at. The general trend is up but so is the world.
Also what governments or central authorities can keep a currency in line? The US can't, China can't, Russia hahaha, how close did the Euro come when Greece lied their way in and the lies caught up with them?

Equally on bank robberies
https://www.fbi.gov/investigate/violent-crime/bank-robbery/bank-crime-reports
http://www.aic.gov.au/publications/current series/tandi/241-260/tandi253.html
http://www.ebf-fbe.eu/wp-content/up..._Robberies_-_Exec_Summary-2008-01780-01-E.pdf (PDF link)
More than a statistical blip there.

Don't worry, they'll get it when Ethereum finally crashes and burns.

There is nothing to get.
Spin it another way. I like old tools. I use old tools as they were designed for even, it is mainly a hobby of mine. Every few years some interior designer mistakenly thinks that their grandfather was not a lazy bastard and all the old tools on the shelf were there because they looked cool. All of a sudden the old tools I am buying for not a lot shoot up in price for a while until the fad passes and art deco or something is back in.
Do I complain? No, no need and no justification for it.

Also why is it likely to crash and burn? There are plenty of others that have stood the test of time, in internet terms anyway.

 

[gamesquest1]

Their GREED for mining is taking away the ability of others who want to upgrade at retail price... What's not to get?

Tbf maybe in their opinion stupid gamers are driving up the price of their mining rigs, while I understand where your coming from, they do have a legitimate use for buying and using the cards.....unlike traditional scalpers like with the Nintendo classic systems where people are buying up a finite resource for the sole reason of trying to inflate prices to resell at a profit.......maybe you should have more of an issue with the scalpers buying to resell than the guys who are buying the cards to use for whatever reason be it gaming or crypto currency mining, your all in the same boat, except their desire to buy the cards surpasses yours

 

[gnmmarechal]

ouch. Of all things to fail.... this one... ouch.

--------------------- MERGED ---------------------------

Now those poor GPUs can be used for what they should be used for.

--------------------- MERGED ---------------------------



Well 1080s weren't affected before, only the cheaper cards were.

like... no? People can do whatever they want with the hardware they buy.

 

[Yil]

except when someone buys something off you on ebay and they issue a claim they always get their fucking money back even if you have proof you sent it. fuck paypal

Thankfully I have access to Taobao which has all the cheap made in China electronics, and managed better than ebay.

ouch. Of all things to fail.... this one... ouch.

--------------------- MERGED ---------------------------


like... no? People can do whatever they want with the hardware they buy.

The problem is in a month or two these damged cards are going to be sent to market rebranded at normal price.

 

[gnmmarechal]

Thankfully I have access to Taobao which has all the cheap made in China electronics, and managed better than ebay.

The problem is in a month or two these damged cards are going to be sent to market rebranded at normal price.

They're not really "damaged", and will be sold as used

Sent from my cave of despair where I don't stalk Seriel

 

[Yil]

They're not really "damaged", and will be sold as used

Sent from my cave of despair where I don't stalk Seriel

Not as in unusable, but it will not be able to hit the same clock. The damage is mostly on the board but you need at least three years of electrical engineering to know how to fit that together, and manufacturer aren't too keen to give you a new card.

 

[gnmmarechal]

Not as in unusable, but it will not be able to hit the same clock. The damage is mostly on the board but you need at least three years of electrical engineering to know how to fit that together, and manufacturer aren't too keen to give you a new card.

Again, they're not sold as "new" or "almost new" unless the seller is a dishonest prick

Sent from my cave of despair where I don't stalk Seriel

 

[SnakeOil992]

There is nothing to get.
Spin it another way. I like old tools. I use old tools as they were designed for even, it is mainly a hobby of mine. Every few years some interior designer mistakenly thinks that their grandfather was not a lazy bastard and all the old tools on the shelf were there because they looked cool. All of a sudden the old tools I am buying for not a lot shoot up in price for a while until the fad passes and art deco or something is back in.
Do I complain? No, no need and no justification for it.

Not a good example you gave there. Time passes. Whoever doesn't accept that is an idiot in my eyes. You shouldn't complain about things getting old and getting more expensive as time passes, true. However, you can certainly say something about people being greedy and harming the free market. They are, as I said, people. They choose to fuck over the other buyers for their personal profit. They know well that they are buying way too many cards for the shops to keep up with demand. They are parasites. You can have your opinion, but I can have mine as well.

 

[Onepunchbruh]

I'm using Onelife.eu crypto currency. Bought long ago. They closed coin exchange. I contacted them they told. Coin exchange will be available once coins get priced up. They want to reach some goal. Right now I have 66coins there. Don't know what to do with them.

 

[Yil]

Before anyone said anything it's mostly small coorperation holding thousands of Rx 580 each station. Each unit runs on 8 PCIe * 1 with an i3, with little to no external cooling or even chasis.

 

[FAST6191]

Not a good example you gave there. Time passes. Whoever doesn't accept that is an idiot in my eyes. You shouldn't complain about things getting old and getting more expensive as time passes, true. However, you can certainly say something about people being greedy and harming the free market. They are, as I said, people. They choose to fuck over the other buyers for their personal profit. They know well that they are buying way too many cards for the shops to keep up with demand. They are parasites. You can have your opinion, but I can have mine as well.

What? I said nothing about time passing. I said one of my luxury hobbies occasionally gets a bump in price. Here gaming is one of your luxury hobbies and it has a bump in price at present time.
How is anybody getting fucked over? As far as I can see someone says "I have these items for sale", another says "excellent, I will have some", funds get exchanged and the goods get delivered. Had you reserved a graphics card and then someone pulled it from you (though I presume most reservation methods have an agreement like for a full refund of deposit the seller reserves the right to cancel for any reason) we might have had a discussion. This however is basic supply and demand.

You can have your opinion, however if you are going to share it and possibly suggest others follow it then you may well get told it is wrong and why it is wrong. Loads of others told you this before you shut your blog on the same subject down. I like gaming, I like gamers, I am generally indifferent to virtual miners, however I am nowhere close to feeling any kind of ill will towards the miners, much less censuring them in any kind of way. However people started prattling on about rights (granted on your old blog more than this thread) and casting aspersions which is just silly. Once again had you said "I wanted to buy a card but the prices have shot up" I would have said "sucks, they will be back down before too long though" and that would have been that. This nonsense about damaging markets is nonsense and I have to treat it as such.

 

[Pluupy]

I don't understand. How does this bitcoin copycat influence video card prices?

 

[Tom Bombadildo]

I don't understand. How does this bitcoin copycat influence video card prices?

GPUs are used to mine cryptocurrencies. Ether became popular to mine because it was fairly profitable for a time, so people and companies have been buying as many GPUs as they can get their hands on, causing a shortage. Now that this happened, some miners are likely to abandon mining and the demand for GPUs will lower, allowing the prices to fall back to normal MSRP.

 

[migles]

I don't understand. How does this bitcoin copycat influence video card prices?

like tom said, there is a very high demand for them now, retailers\sellers grab this opportunity to increase the prices to profit

 

[Yil]

like tom said, there is a very high demand for them now, retailers\sellers grab this opportunity to increase the prices to profit

The problem is the new generation of cards are coming right now, say Vega and gtx 20xx series.

 

[migles]

gtx 20xx series.

right now? when?
is that volta?

 

[Yil]

right now? when?
is that volta?

Yeap. Nvidia will probably start shipping before Christmas to counter Vega. Hell, I think they should disable mining by driver.

--------------------- MERGED ---------------------------

GPUs are used to mine cryptocurrencies. Ether became popular to mine because it was fairly profitable for a time, so people and companies have been buying as many GPUs as they can get their hands on, causing a shortage. Now that this happened, some miners are likely to abandon mining and the demand for GPUs will lower, allowing the prices to fall back to normal MSRP.

In some market the price completely collapse.

 

[gnmmarechal]

Yeap. Nvidia will probably start shipping before Christmas to counter Vega. Hell, I think they should disable mining by driver.

Now that is just completely ridiculous.

 

[FAST6191]

Hell, I think they should disable mining by driver.

Leaving aside that such a move would probably have them under fire by various regulatory bodies how would you propose doing that?
Games, video encoders/filters and any number of other things have used the exposed calculation options of graphics cards for over a decade at this point, possibly even nearer to two decades in some cases. To that end they can't really get rid of those options and as such they can't exclude mining.

They might make a version that is less useful for games but can still do mining style calculations, and possibly some calculations others might want, but that is a different matter.