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GPU prices go boom

Gzero said:
Well considering the future looks VERY VERY bleak (pensions will be worth nothing, savings are below inflation), what do you expect people to do with their money? AMD/Nvidia will find a way to solve the supply problem with all the money people are throwing their way.
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Zero interest from savings too.
 
FoxEye said:
Perhaps we should all focus less on scrambling to the top of the pile and start thinking about how we got to this (bleak) point, and what we can do differently. To try to care about our environment, the wider community, etc. You're right tho, the future does look like some version of societal collapse is inevitable. Largely because we've allowed capitalistic thinking (greed) to trump and silence all other voices and concerns, to let the 1% accumulate beyond all reason and to get away with daylight robbery against the rest of us.

After all... if the pensions are empty, where did all the money go? It didn't evaporate.... Our economy keeps growing (albeit slowly). The money is still there, it just isn't in the pension pots...
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Remember the floods? Yep, HDD's still cost more than before that event.

Remember the fire? Yep, DDR still costs more than before that event.

Both took place before the mining boom of Q2 2017.

The value of the £ against the $ has risen, but nope, prices are still in the pits on a lot of imports... supposedly brexit is to blame for that one.

Care about our environment? In what way? Councils are busy maximising their spending in order to look like they need more money and increase taxes.
Community? If I could actually go places without it costing an arm and a leg.. yep transport costs are up even though petrol/diesel came down and stabilised.

If you aren't trying to find an alternative channel of income, be it trading, mining, freelancing, etc then'll you'll fall behind with all the inflation occurring. The only real fix is to tell the BoE to stop printing notes, but of course they aren't going to do that since it doesn't affect them and their outrageous wages anyway.
 
Scramz said:
Anyone who thinks people buying GPUs to earn money is greedy are just wrong and bitter.

I guess a part time taxi driver is greedy buying petrol too?

Also people are going on about working hard, ethics, etc. Do you think the miners in here are sitting at home and only mining. I'd bet nearly everyone has a job, hard working and mining is a hobby.
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Greed is taking (or trying to) a bigger and bigger share. Is continuing to take more and more when you have already have far more than is "usual". It could be called unreasonable by those who only wish to have a small amount, but are denied even that by those who already possess a large amount.

Greed is relative, perhaps.

Infact, a few miners I have spoken with in here are business owners. Go figure.
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Surprise as those with money are better able to make more money than those with no capital to invest in the first place.
 
FoxEye said:
Greed is taking (or trying to) a bigger and bigger share. Is continuing to take more and more when you have already have far more than is "usual". It could be called unreasonable by those who only wish to have a small amount, but are denied even that by those who already possess a large amount.

Greed is relative, perhaps.
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It's a dog eat dog world.
 
lowrider007 said:
Also how can you say that this isn't hurting anybody?, these inflated GPU prices are hurting a massive community of PC gamers out there, this is a small percentage of people effecting a much larger community because they want more money and it does have an impact on us.
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I meant 'hurt' in its literal sense, not just that someone buying a luxury item now has to pay slightly more for it than before.

According to Steam most PC gamers don't buy a 1070/1070ti/1080ti anyway so I'm not sure who in this "massive community" it's hurting.
 
FoxEye said:
Greed is taking (or trying to) a bigger and bigger share. Is continuing to take more and more when you have already have far more than is "usual". It could be called unreasonable by those who only wish to have a small amount, but are denied even that by those who already possess a large amount.

Greed is relative, perhaps.
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So every business, including ones you have worked/working for are all greedy. They all want more.
 
The market supposedly controls supply, although I’d have though the manufacturers ultimately control supply as it comes from them.

If it’s miners or gamers, the GPU manufacturers aren’t going to give a crap who buys so long as they keep buying.

I’m hoping for a crash in crypto currency (which I’d guess is more likely than not) and a consumer backlash from gamers when the market ends up flooded with unsold GPU’s.

We’ve all (gamers and miners) been taken for fools recently and I hope the consumers from both camps remember this.

I doubt it’ll happen but it would be nice to see.

I can’t help thinking I’m not alone in feeling PC gaming has gone way beyond what I’m prepared to pay (coming from someone with two 1070’s) and come upgrade time I’ll most likely just go console if I bother at all, the GPU manufacturers have bitten the hand that feeds too hard and I hope they rue the day.

I’m a serious level user (4K monitor, SLI cards etc) yet am totally disillusioned with the whole setup / scam, if someone of my level feels this then surely Joe average feels similar?

They’ve lost me as a customer and I suspect many others, when (not if) the crypto currency bubble bursts, I hope they find themselves alienated from the consumer group they’ve taken so very much for granted.
 
Scramz said:
So every business, including ones you have worked/working for are all greedy. They all want more.
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Normally that's down to shareholder greed. Most companies have no choice but to push for more and more "growth". Actually that can also come from cutting costs, firing people, selling assets, cutting corners to make an inferior product (all of which happen often), in order to return more money to shareholders.

Judging our corporations solely on their "growth potential" is a bizarre paradigm that causes businesses to hate stability, risking everything to for growth. It also causes mergers and monopolies, and isn't necessarily a good thing.

Many articles have been written on the dangers of our obsession with unending "growth". It's an interesting subject I only partially understand.
 
I find this idea that us bedroom miners are Robber Barons most amusing, that we're all sat here already BTL baby boomer millionaires now ploughing our vast fortunes into buying up all the GPUs so as to make even more money and deprive all the gamers that next upgrade in doing so.

I probably have one of the lowest annual wages on this forum, no investments, no pension, no house, no car. Instead of my quite modest savings being sat doing nothing with the potential of earning me absolutely **** all I decided to give mining a bash and it's working out OK.

Judge away, I give not a single **** what a few internet SJWs think.
 
FoxEye said:
Normally that's down to shareholder greed. Most companies have no choice but to push for more and more "growth". Actually that can also come from cutting costs, firing people, selling assets, cutting corners to make an inferior product (all of which happen often), in order to return more money to shareholders.

Judging our corporations solely on their "growth potential" is a bizarre paradigm that causes businesses to hate stability, risking everything to for growth. It also causes mergers and monopolies, and isn't necessarily a good thing.

Many articles have been written on the dangers of our obsession with unending "growth". It's an interesting subject I only partially understand.
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You are pinning mining on that. Madness.
 
What still gets me is the (mostly) miners who says its just great for AMD, Nvidia and everyone else in the GPU manufacturing and retail chain as they are (currently) selling out all of their product at inflated prices!

I can only assume that the get rich quick whilst not necessarily paying to much heed of the long term sustainability mentality has taken root across wide swathes of their cognitive reasoning....

Using GPU cards to mine crypto 'coins' is something that will end at a some point.... It's fairly simple to work out why....

Mined crypto 'coins' only survive based on the prospect of rather large inflation in their purchasing power...

As I have repeatedly pointed out mined crypto 'coins' are not currency they are a speculative instrument.... Their relative purchasing power is far too volatile to be a currency....

Even scammers can't afford to price their ransomware in crypto any more as its just too volatile....

https://www.theguardian.com/technol...s-ransomware-cybercrminals-malware-developers

The other issue with any cryto currency is unlike gold or diamonds they can be replicated infinitely by the creation of new types of coin...

The apparent comment from Nvidia to the market about who they should sell their cards to (less to miners) is a sensible longer term strategy.... No sensible business wants to make big profits in the short term that can (in the readily foreseeable future) harm their longer term prospects if they can help it....

(before someone mentions something like oil extraction being an example of this it is not the same as the oil companies are extracting a finite resource so they can't help the fact that it will run out in the future if extraction continues.... It's not the same for computer companies who can possibly use different sometimes recycled materials going forward)

I bare no grudge against individual miners and don't buy into the whole 'greedy' thing as long as their acting legally, in purchasing equipment and electricity and pay any applicable taxes.... I believe in a free market after all....

On the other hand it doesn't stop me wishing I'm the more general sense for a speedy collapse of non ASIC mining as it is hurting the PC enthusiasts and gaming markets if his continues because its currently cost prohibitive for an awful lot of people who could more readily afford the hardware not so long ago
 
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Caracus2k said:
The apparent comment from Nvidia to the market about who they should sell their cards to (less too miners) are sensible longer term strategy.... No sensible business wants to make big profits in the short term that can (in the readily foreseeable future) harm their medium to long term prospects if they can help it....
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According to JayzTwoCents Nvidia are providing GPU's direct to miners by the pallet load............
 
Scramz said:
You are pinning mining on that. Madness.
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No, that particular post had nothing to do with mining. I haven't claimed that mining is responsible for shareholders, general greed, or companies pursuing continual growth. I also haven't claimed that mining causes cancer ;)
 
I've started mining to hopefully cover the cost of my next GPU upgrade.

Will probably mine on that too.

Can understand why non mining PC gamers hate the serious miners.
 
Caracus2k said:
If true then I can only hope they have done the longer term cost and beneift analysis and concluded its in their interests to do so
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You'd think they'd have a few clever people working for them. But have you thought of getting in touch with them and telling them where they are going wrong.
 
FoxEye said:
On the flip side, none of that makes you a good person either. Some people give things away to appease their conscience, or to try. Without knowing how you made your money I can't know if you're a drug lord or not (unlikely, but you get my point).

Also I would be an absolute fool if I bought into the idea that a little philanthropy justifies the current rich/poor divide. The world wouldn't need philanthropy if the wealth and resources were more evenly distributed. Sorry, socialist leaning here.
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No buddy you crack on, I appreciate that it takes people of all kinds to make the world go round. In an ideal world I would perhaps share your outlook but the world is far from ideal and for the most part no single person can do anything about that. I accept that, but I also accept that there are things I can do for myself, immediate family and community which do make a difference so when I am in a position to, I do help out. I also like to play with tech, game for an hour every couple of nights and play with a few mining machines for no other reason than to make extra money. My point was to merely point out that all kinds of people mine, much like all kinds of people game and many of these people would consider that a hobby. To make assumptions about those people would be as foolish as to think the world will ever be the idyllic balanced place some people think it can be. In a world where everybody is equal, nobody can aim to do anything really special.
 
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