You do realize if if a miner or group of miners buys it from the Nvidia website using a bot that is in fact "direct from Nvidia."

You're reading into the clickbait headline too much.

kelkel1
Been wondering, what exactly is cryptomining?

"As John Oliver recently exclaimed during HBO’s “Last Week Tonight,” cryptocurrency is: “everything you don’t understand about money combined with everything you don’t understand about computers!"
https://www.forbes.com/sites/jasonevangelho/2018/03/13/mining-101-what-exactly-is-cryptocurrency-mining/?sh=72ba8e5ea83a
 

notfordman

kelkel1
Been wondering, what exactly is cryptomining?

"As John Oliver recently exclaimed during HBO’s “Last Week Tonight,” cryptocurrency is: “everything you don’t understand about money combined with everything you don’t understand about computers!"
https://www.forbes.com/sites/jasonevangelho/2018/03/13/mining-101-what-exactly-is-cryptocurrency-mining/?sh=72ba8e5ea83a
 

But what is the work miners are being paid for?
 
Seems shady, like password cracking, or database hacking.

Back to topic of thread  -
I have read the same news about selling direct to Miners from a few different websites now. 
If true, that it pretty nasty thing to do to all your loyal customers that have been trying to get a card before the holidays....
 
Great business decision from nvidia - money is money ,...but doesn't mean I have to like it

kelkel1

ty_ger07

kelkel1

notfordman

kelkel1
Been wondering, what exactly is cryptomining?

"As John Oliver recently exclaimed during HBO’s “Last Week Tonight,” cryptocurrency is: “everything you don’t understand about money combined with everything you don’t understand about computers!"
https://www.forbes.com/sites/jasonevangelho/2018/03/13/mining-101-what-exactly-is-cryptocurrency-mining/?sh=72ba8e5ea83a

But what is the work miners are being paid for?

Seems shady, like password cracking, or database hacking.

Miners are paid for doing the crypto math necessary to keep the blockchain functioning and a adjustable difficulty to limit inflation.

Pretty much a non-answer. I want to know what this blockchain is, and why people are paid to use their hardware to 'do the math'.

Youtube has lots of videos on the subject.
There are way too many paragraphs to type here.
Basically, the blockchain is a ledger of transactions. It is a running list of everyone who has gained cryptocurrency (from selling something, from buying cryptocurrency, or from mining), and every cryptocurrency they have lost (from buying something or from selling cryptocurrency).
Every cryptocurrency owner has a public key (their "address") and a private key (cryptographic security measure so that only a person who knows the private key associated with the public key can start the transaction).
When a transaction happens, miners receive the transaction, verify the funds are available according to the ledger (blockchain), update the ledger (blockchain) with new balances, and do some additional math to make the task difficult enough to control inflation, and get paid a small amount of new/never previously existing cryptocurrency ("mining") for their work.
All new cryptocurrency comes from mining. Once someone has the cryptocurrency, they can buy or sell it, and the process repeats.
Investing in cryptocurrency is simply buying it from someone who already has it. Any time cryptocurrency is bought or sold, it is essentially just a transfer on the ledger from one user to another user.
Cryptocurrency is never destroyed. It is created slowly from mining and then transferred. It has been "lost" though. Losing cryptocurrency is simply the act of having the cryptocurrency at an address which you forgot the private key for. Trying to hack the private key back currently takes longer than the lifetime of our universe.
Mining is required for the cryptocurrency to continue functioning. Without mining, cryptocurrency cannot be bought, sold, or transferred.
So, when you invest in cryptocurrency, you are giving someone cash to transfer their existing cryptocurrency to you; or you start mining and trade your electricity bill for your mining fees keeping the blockchain going. When you sell your investment, you are accepting cash with the agreement of transferring the cryptocurrency to their blockchain address.
The value in cash is speculative. It's only worth how much cash you are willing to buy or sell it for.

Why would miners go with gpus and not ASICs for crypto? 

Don't underestimate a disgruntled gamer. They can wreak havoc like you have no idea.
 
https://hardcoregames.video.blog/2020/11/30/nvidia-cards-to-digital-coins/
 
I am so incensed that I am now bashing Nvidia for false advertising etc

the_Scarlet_one
Cant the mining software detect exactly what GPU is being utilized?

Yes. But different cryptocurrencies use different cryptographic algorithms, and different cryptographic algorithms are more or less suitable for different types of hardware. Ethereum mines on video cards well. Bitcoin and Monero terribly. Some are better on video cards. Some are better on CPUs. And all are better on "ASICs"; it's in the name. Application specific hardware will be purpose-designed to work best for that algorithm with high efficiency without including other wasted transistors which are general purpose and not used by that algorithm.

Oh, I thought you were asking why people can't make video cards mine better.
 
Somewhere out there, there may be stats for which hardware is being used.  I have no idea where that information would be located.

notfordman

kelkel1
Been wondering, what exactly is cryptomining?

"As John Oliver recently exclaimed during HBO’s “Last Week Tonight,” cryptocurrency is: “everything you don’t understand about money combined with everything you don’t understand about computers!"
https://www.forbes.com/sites/jasonevangelho/2018/03/13/mining-101-what-exactly-is-cryptocurrency-mining/?sh=72ba8e5ea83a
 

That's probably the funniest, most accurate, and least biased thing he's ever said 

You know, for the first time in a few years, AMD's new cards are slower than nVidia's in mining (they are about as fast as AMD's last generation), so it would affect availability. How about those of you who complain let go of your loyalty to nVidia and be the gamers you say you are?

mathematical
Why would miners go with gpus and not ASICs for crypto? 

Miners can't choose, it depends on the coin's network.


As much as a decade ago, minable cryptocurrency (because the vast majority aren't minable) was done with just a CPU because the network was small. As the network grew (meaning supply drops, demand goes up, coin value goes up) with more people piling on, miners look to more powerful processing than just huge clusters of CPUs, because hardware and electrical costs are a thing. Of course eventually the network and market of a few coins grows so large that ASICs come into the picture.

ASIC stands for Application-Specific Integrated Circuit, these are machines literally designed for one task, and almost no resale value, as faster ASICs come around.

When cryptocurrency first came around, the idea for everyone to get into it without having to buy expensive hardware, so for both community members and founder's of the coins, there has been pushback against ASICs which can cost upwards of $3000 and be nearly 1000x more efficient than a graphics card. Especially when large organizations buy hundreds in areas of cheap electricity, it crowds up the network where average Joe never breaks even.

So some new coins have been made ASIC-resistant, and GPUs have use (like Ethereum), while some are even GPU resistant where only CPUs can do the mining (like Monero).