Takes aim crypto mining once again

This process relies heavily on powerful computers with robust graphics cards—the same ones players hope to use when trying to run the new Call of Duty game.

Mining rigs often include several GPUs working toward the same crypto mining objective. New cards typically offer more computing power compared to the amount of electricity they consume, which is essential for crypto miners who want to keep the process profitable. Starting at just $329, the new Nvidia RTX 3060 promises tons of power for the price, which makes it attractive to mining operations.

Now, in order to reduce demand from crypto mining operations, Nvidia is limiting the efficiency with which it can process transactions for a popular cryptocurrency known as Ethereum. Nvidia says it is focusing specifically on Etherium because it’s still profitable to mine.

She also said that crypto production and trade produces “prominent risks,” and blasted the industry as “blind and disorderly.”

As part of its new push, the NDRC said it would raise electricity prices for any institution found to be abusing its access to subsidized power to participate in crypto mining. Authorities have traditionally offered schools, community centers, or other public welfare institutions lower prices for electricity.

The price of bitcoin fell after the remarks, diving more than 7% to $60,889, its lowest value in more than a week.

While the reason for the plunge was not immediately clear, it coincided with the NDRC press conference.

Takes aim crypto mining once again

Authorities see the currencies as a big financial risk, and as a way that people can evade strict national controls on capital, and want to reign in such practices. The restrictions on decentralized currencies like bitcoin also comes as the government rolls out a digital version of the yuan, which would allow China’s central bank exercise more control over the flow and exchange of money.

Beijing is also trying to meet its climate targets to become carbon neutral by 2060, and crypto mining could threaten that.
The practice is energy-intensive and consumes a lot of computer power, as it requires machines to solve complex series of algorithms to verify transactions.

Takes aim crypto mining once again gb743

She also said that crypto production and trade produces “prominent risks,” and blasted the industry as “blind and disorderly.”

As part of its new push, the NDRC said it would raise electricity prices for any institution found to be abusing its access to subsidized power to participate in crypto mining. Authorities have traditionally offered schools, community centers, or other public welfare institutions lower prices for electricity.

The price of bitcoin fell after the remarks, diving more than 7% to $60,889, its lowest value in more than a week.
While the reason for the plunge was not immediately clear, it coincided with the NDRC press conference.

Takes aim crypto mining once against

The past year has left PC gamers feeling conflicted. Hardware makers like Nvidia have released some of the most powerful and compelling new graphics cards—essential components for running games at high frame rates and resolutions—in years.
Cards like the Nvidia RTX 30-series promise big performance jumps for surprisingly affordable prices (relatively speaking). The problem, however, is that it has been almost impossible to buy one due to demand, some of which comes from the cryptocurrency mining world.
Now, Nvidia has taken an interesting step to try and remedy the situation by modifying the performance of its new RTX 3060 card.

The pandemic has played a large role in the shortages. As parts of the world shut down, the supply chains were affected while demand spiked hard.

Takes aim crypto mining once against us

So much so that today only large scale operators that can afford the most efficient hashing equipment and have access to cheap energy are able to compete.⁹ Hence, the push towards repurposing outdated infrastructure for cheap, “behind the meter” energy.

Bitcoin’s algorithmic inefficiency is only compounded by the fact that some 90% of the transactional volume on the blockchain is not even tied to economically meaningful transactions. Inefficient indeed.

Bitcoin’s proof of work algorithm is terrible for the environment and as the blockchain grows it leads to more and more centralization of control of the network – two features that were arguably never intended by Bitcoin’s original architect(s).

Today, the top 10% of miners control 90% of the mining capacity and just 0.1% (about 50 miners) control close to 50% of mining capacity.

Takes aim crypto mining once against a

The card’s drivers will detect cryptocurrency mining activities automatically and scale down the performance without any actual physical changes to the card itself.

As users extract new coins for a cryptocurrency, the algorithm increases the amount of work mining rigs need to do in order to extract a coin. In the early days of Bitcoin, it was possible for even casual users to extract new Bitcoins using consumer-grade hardware.
At some point, however, the cost of the electricity required to power the mining rigs exceeds the value of the currency extracted. This effect has caused miners to focus on currencies that are still viable, exploit places with affordable electricity, or employ shadier tactics.

Ether, the second largest digital token after bitcoin, slid more than 8% on Tuesday to $4,297, the worst level in two weeks.

This is not the first time this year that Beijing has pledged to crack down on crypto mining.

China has intensified its efforts to clamp down on cryptocurrency since May, when it banned the trading of cryptocurrency and said it would scrutinize mining operations in the country.

China accounts for more than 75% of bitcoin mining around the world, according to research published by the peer-reviewed journal Nature Communications in April.

Despite its fall this week, bitcoin is still having a banner year. The cryptocurrency has surged about 110% in 2021. Last week, it hit a record high of $69,000.

China is taking aim at crypto for a few reasons.

Ether, the second largest digital token after bitcoin, slid more than 8% on Tuesday to $4,297, the worst level in two weeks.

This is not the first time this year that Beijing has pledged to crack down on crypto mining.

China has intensified its efforts to clamp down on cryptocurrency since May, when it banned the trading of cryptocurrency and said it would scrutinize mining operations in the country.

China accounts for more than 75% of bitcoin mining around the world, according to research published by the peer-reviewed journal Nature Communications in April.

Despite its fall this week, bitcoin is still having a banner year. The cryptocurrency has surged about 110% in 2021. Last week, it hit a record high of $69,000.

China is taking aim at crypto for a few reasons.

Ether, the second largest digital token after bitcoin, slid more than 8% on Tuesday to $4,297, the worst level in two weeks.

This is not the first time this year that Beijing has pledged to crack down on crypto mining.

China has intensified its efforts to clamp down on cryptocurrency since May, when it banned the trading of cryptocurrency and said it would scrutinize mining operations in the country.

China accounts for more than 75% of bitcoin mining around the world, according to research published by the peer-reviewed journal Nature Communications in April.

Despite its fall this week, bitcoin is still having a banner year. The cryptocurrency has surged about 110% in 2021. Last week, it hit a record high of $69,000.

China is taking aim at crypto for a few reasons.

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