NVIDIA GeForce RTX 30 Series | RTX 3090 3080 3070 | Discussion

Discussion in 'Video Cards & Monitors' started by Sphinx2000, Sep 1, 2020.

  1. mAJORD

    mAJORD Member

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    these LHR will have to be really cheap and available to get good uptake

    otherwise might as well pay excess for non LHR and mine the difference and beyond as before
     
  2. mAJORD

    mAJORD Member

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    Probably because people understand in their actual tax obligations? :p
     
  3. Skramit

    Skramit Member

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    Def before. But I also havent sold anything yet so no tax yet.....
     
  4. th3_hawk

    th3_hawk Member

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  5. Skramit

    Skramit Member

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    Gotta admit reading the ATO replies in the community forum and the official ATO pages on crypto, its still fucking unclear for mining specifically. For trading crypto it seems much more cut and dry. But I dont think the ATO policy makers even know what mining is.

    Lots of community questions about "mining crypto" and they respond with "We see you're a day trader....." uhhh what?
     
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  6. raincloudx

    raincloudx Member

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    I think If you are mining with the intention of making a profit/investing then you’d need to pay cgt on - a sale event (this includes converting to another coin). In the case of mining the cost of the rig/electricity becomes your cost base.
     
  7. mAJORD

    mAJORD Member

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    And how does the ATO know when exactly the crypto was mined.
     
  8. raincloudx

    raincloudx Member

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    I believe the onus would be on you to prove it.
     
  9. Skramit

    Skramit Member

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    Agreed.... I think....

    But when it comes to taxation, it would be nice if there was some clearer guidance. It all seems a bit open to interpretation to me. I think I will go to an accountant for this FY and that way I can at least prove I tried to do the right thing getting proper advice.
     
  10. havabeer

    havabeer Member

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    I would be calling a few accountants and ask if they've had anything to do with crypto first. There would be no point going to an account who says "I don't know what you're talking about" and then trying to complain to the ATO that you went to an accountant about it if it turns out the accountant complains that he told you he had no idea.
     
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  11. metalrain

    metalrain Member

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    How hard do you think RTX 3080 prices will crash (if they will at all) when the RTX 3080/3070 Tis get released? Read some rumours they're going to be using less capable mining GPUs so perhaps the older cards will keep their value?

    Or if they have better hashrates, would that change anything?
     
  12. Slug69

    Slug69 Member

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    The older cards will hold their value. Being able to mine at full hashrate is nothing to be sneezed at.
     
  13. Sunder

    Sunder Member

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    With most crypto prices coming down off highs, and the new ones using LHR, I'm hoping after the first couple weeks of mania, retailers will realise they still have excess stock and come back closer to RRP.

    Maybe a bit hopeful, but it depends on whether crypto keeps falling and how long it takes to break the LHR limitations.
     
  14. metalrain

    metalrain Member

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    I'll be honest, I really don't have the drive to mine, so if the new and more gaming orientated GPUs are less attractive to miners and therefore will cost less realistically, I'd rather cash out and update to them. Looking forward to a lot of new vidya coming out myself.
     
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  15. The Beast

    The Beast Member

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    Crypto already recovering after Musk's latest twitch, so that's not going to damping any mining enthusiasm.

    Excess stock? Not going to happen.

    The next test will be to see what 3080Ti RRP is, and what Aussie retailers set it at (ie: extort it). Given current 3080s are priced $1500 and up (but realistically $2000k and up), and 3090s are $3000 and up, surely the 3080Ti will start at $2200-$2500 AUD.

    Further, it seems the LHR cards (such as new 3080s that are coming down the pipeline) aren't going to be marketed as such, or may have no distinguishing features other than a subtle model name change such as [FG] (Galax) or PLUS (MSI). So, if retailers don't have to distinguish that these are mining nerfed cards, then they also won't be compelled to lower prices. If there is a still a massive semi-conductor shortage (and there will be into 2022) stock will be low and retailers will keep gouging prices.
     
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  16. Sunder

    Sunder Member

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    Funny. I recall someone else saying a very similar thing to me when it was 51k back in April. Less than 46K today. Dead cat bounce I'd concede. Recovering? I'll wait:

    upload_2021-5-18_16-36-51.png

    So... If retailers don't have to declare them, what are the scenarios?

    1) Miners don't buy any - Good for gamers right?
    2) Miners buy them in hopes they are not nerfed, and if they are, then end up with a 2nd hand card they can't use so try to offload on eBay... Good for gamers, right?
    3) Miners buy them and lose money at half hash rate? I find it hard to believe.

    Only the semiconductor shortage is pretty much guaranteed to keep prices at gouging levels.
     
  17. The Beast

    The Beast Member

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    Bitcoin is irrelevant, nobody is mining bitcoin. ETH is still incredibly profitable despite the recent dip.

    [​IMG]

    At these prices the venn diagram of gamers and miners has been increasingly overlapping.
    • A 3080Ti at $2200 that is nerfed for mining is still somewhat attractive to a non-mining gamer, but not nearly as easy to swallow when the 3080 (~5% slower) was supposed to be available in plentiful supply by now for about $1000 less.
    • A 3080Ti at $2200 that is nerfed for mining is almost non-starter for a mining-gamer - but you're still able to recoup about $5 AUD per day, so if you're patient you can probably offset the $1000 markup in about 6 months (or longer if you're only mining part time).

    So, sort of good for gamers, but not great.

    More likely:
    • Industrial miners will buy and hold, hoping for a software workaround like the 3060.
    • Scalpers will buy and still flip for a profit - semi-conductor shortage still real.
    Casual miners aren't losing money on these, they are still profitable, just not as much, older cards are far more attractive - but also unobtainium. If they are available and people have room in their mining rigs and these are all they can get then they may still run them.
    Industrial miners probably won't but if they are getting free power (read: state subsidised, or excess waste power from hydro plants) then it may still be worth running these if they can secure them in large enough numbers.
     
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  18. BlueRaven

    BlueRaven Brute force & optimism

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    Now if I was a retailer interested in maximising profits and I learned that my next stock order of GPUs will be nerfed cards, how eager would I be to make absolutely certain that the wording of my article listings left no confusion in the minds of consumers about that fact? Especially if there was no rule or law that required me to do so? Hmmmm....
     
  19. Slug69

    Slug69 Member

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    Anything that is on the shelves in June will be nerfed. The miners will not be able to get those cards to work.
     
  20. Sledge

    Sledge Member

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    They won't say anything..
    They will just list an RTX3080 as an RTX3080
    And if a customer asks, they will say they have no way of knowing that..
     

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