GPU prices go boom

[FoxEye]

Can you stop with your stupid piece of reasoning?

Why can't it still be a hobby if you have 10 GPUs?

It's unlikely to be a "hobby" for most people. For the same reason that going to work isn't a hobby for most people.

Hobbies tend to be something you are interested in, get enjoyment from - and there are two crucial differences that I see. 1) For most of us hobbies tend to cost money. People spend thousands on their hobbies - correct - but they don't tend to expect any ROI for whatever they spend. 2) If mining stopped being profitable the vast majority would ditch this "hobby" quicker than you can say "100 GTX 1060s for sale".

This is a money-making enterprise pure and simple.

And no, the vast majority of gamers wouldn't spend tens of thousands on GPUs. Don't be silly. There's only one Kaap.

 

[Sasahara]

I have never used any of my cards for mining, it is not really my thing.

But you still have loads, so your just as bad. Bloody Bench Markers hoarding all the GPUs!

 

[Sasahara]

But what happens when/ if GPU mining becomes unprofitable.....?

Gamers get access to a lot of cheap 2nd hand cards?

Even if mining become unprofitable the GPU won't crash completely as some countries have cheap electric, they would hover up any cards going too cheap.

But this high price level won't last that long as there is a limit to the amount that mining can make. All the proceeds are shared.

 

[Emlyn_Dewar]

It will be awesome once that crash happens, as the massive flood of cards will lower prices, and new card prices will need to come down to seem worth it.
I know many have no interest in a card that's been running at 100% for a large amount of time but it really doesn't concern me.

 

[DarrenM343]

Gamers get access to a lot of cheap 2nd hand cards?

Even if mining become unprofitable the GPU won't crash completely as some countries have cheap electric, they would hover up any cards going too cheap.

But this high price level won't last that long as there is a limit to the amount that mining can make. All the proceeds are shared.

May happen if bitcoin goes lower. I've been experimenting with mining since before Xmas and at the moment its not that profitable in my opinion, especially when you consider some have purchased new hardware, wear and tear, hardware will need upgrading to maintain decent profitability over time etc and of course the whole thing isn't environmentally friendly which some care about, some do not. If you spend hours looking into it and possibly keep switching I'm sure you can mine more profitable coins but I know I don't have the time or motivation to keep doing that, but some do. Makes you wonder if some would do better just buying crypto rather than the mining hardware!
I've tried a few things now, currently split between OCUK pool (which I sometime switch fully to) and an auto switching service, last stats I puled from the auto-switching service was $7.15 for two 1070 TIs (per day), hmmmm, big money . One TXP, $3.73.(per day) Those figures are without power costs deducted. It does of course vary. It gets worse as GBP rises too oof course.
Those who bought hardware solely to mine often rely on income. Other may not care so much if they expect the coins they earn to rise in value, or buy something else that goes up.
So, should crypto dive further I'm sure there will be quite a lot of cards hitting the market, especially by those who need a quick ROI(income).

 

[StarShock]

I'd be really curious to see what happens if/when new card come out.

If hypothetically NVidia release a new crop of cards in a couple months time that out perform current mining cards, do we think miners would upgrade to the new cards flooding the market with 2nd hand cards? or would they expand buying the new cards and keeping the old ones, or just ignore the new cards in favour of getting the ROI of the older cards?

 

[beany_bot]

I'd be really curious to see what happens if/when new card come out.

If hypothetically NVidia release a new crop of cards in a couple months time that out perform current mining cards, do we think miners would upgrade to the new cards flooding the market with 2nd hand cards? or would they expand buying the new cards and keeping the old ones, or just ignore the new cards in favour of getting the ROI of the older cards?

I fear the they would hoover up the new ones alongside running the existing one. Remember, to them every single card means more money

 

[beany_bot]

It will be awesome once that crash happens, as the massive flood of cards will lower prices, and new card prices will need to come down to seem worth it.

Me too. Best case scenario mind you.

 

[Gregster]

I'd be really curious to see what happens if/when new card come out.

If hypothetically NVidia release a new crop of cards in a couple months time that out perform current mining cards, do we think miners would upgrade to the new cards flooding the market with 2nd hand cards? or would they expand buying the new cards and keeping the old ones, or just ignore the new cards in favour of getting the ROI of the older cards?

I reckon they would add the new cards to new builds to mine with. They do like to expand.

 

[DarrenM343]

I'd be really curious to see what happens if/when new card come out.

If hypothetically NVidia release a new crop of cards in a couple months time that out perform current mining cards, do we think miners would upgrade to the new cards flooding the market with 2nd hand cards? or would they expand buying the new cards and keeping the old ones, or just ignore the new cards in favour of getting the ROI of the older cards?

Not sure really, depends on the performance per watt stats of the new cards. Some might just buy and add to existing systems, or build new (£ and space dendent) .
Given how many miners there are, selling when others are doing so isn't going to be a good idea, supply and demand will favour the buyers for sure.
Nobody knows where the crypto markets are going. NV said recently they don't rely on miners. THat may be a hint they don't expect it to continue as strong as it has been. They do need to be careful about causing too much damage to PC gaming too.
I'm guilty in picking up two 1070 Ti's but I was looking at buying them anyway to play with in Sli, although I was meant to sell a TXP which have kept for the moment . May do that soon and will be looking to sell to a gamer (I'll be looking at history of posts )

 

[Gregster]

Madness. I bought this GPU for a friends sons build.

And cherck out the price now

https://www.overclockers.co.uk/zota...ddr5-pci-express-graphics-card-gx-106-zt.html

 

[beany_bot]

Madness. I bought this GPU for a friends sons build.

And cherck out the price now

https://www.overclockers.co.uk/zota...ddr5-pci-express-graphics-card-gx-106-zt.html

Profiting from their own demise. Meh. Why not I guess. If I owned OCUK I would seriously be looking to sell right now. Alas it's probably too late now.

 

[DarrenM343]

Madness. I bought this GPU for a friends sons build.

And cherck out the price now

https://www.overclockers.co.uk/zota...ddr5-pci-express-graphics-card-gx-106-zt.html

Wow, I didn't realise it was that bad.
I picked up cards direct just before Xmas. 1070 Ti's (reference) @ £419.99 each now seems a bargain. Just looked around and some 1070 Ti's > £600. Madness. GPU pricing seems a bubble in itself.

 

[Dirk Diggler]

When the mining crash happens, I'd rather that Nvidia brought out Volta with a hefty performance increase so that no one wants the second hand Pascal cards.

I'd hate to see the mining community destroy it for gamers like they are, only to have gamers buy up their useless hardware and give them more money in the process.

I'm also glad I extended my warranty with EVGA for my 1080ti to 5 years, because I can't see me paying £1500 for the next Titan, or £1000 for the next ti, and that's where it seems to be going.

 

[Gregster]

Profiting from their own demise. Meh. Why not I guess. If I owned OCUK I would seriously be looking to sell right now. Alas it's probably too late now.

Wow, I didn't realise it was that bad.
I picked up cards direct just before Xmas. 1070 Ti's (reference) @ £419.99 each now seems a bargain.

Genuinely shocked to see that kind of increase for a lowly 1060. I genuinely feel for anyone wanting to get into PC gaming and having to start from scratch. Crazy pricing and **** miners I say.

 

[Caracus2k]

Can you stop with your stupid piece of reasoning?

Why can't it still be a hobby if you have 10 GPUs?

Let me explain it in the simplest terms a 'hobby' is a leisure pursuit.... It's not completely incompatible to make money from a 'hobby' but if you have 10+ GPU's mining and the market for mined currency tanks don't tell me that you are going to continue with your activities regardless ergo it isn't a hobby so stop with your ridiculous justification..... Accept that you are involved in a ponzi style get rich quick scheme (which will inevitably lead to lots of people losing lots of money) and stop trying to claim that its some noble, useful enterprise you are engaged in or that it's even a 'hobby' because it's not and your only deluding yourself if you think that it is

 

[200sols]

I picked up another 1070ti strix this week £479 and 2 MSI armor 6GB for £269 each. Not all is bad. The mining difficulty is increasing all over for altcoins and profits are down overall. Those people who thought it was easy and spent 5k to mine nicehash are already feeling the pain as altcoins tanked it vs bitcoin.

 

[200sols]

Let me explain it in the simplest terms a 'hobby' is a leisure pursuit.... It's not completely incompatible to make money from a 'hobby' but if you have 10+ GPU's mining and the market for mined currency tanks don't tell me that you are going to continue with your activities regardless ergo it isn't a hobby so stop with your ridiculous justification..... Accept that you are involved in a ponzi style get rich quick scheme (which will inevitably lead to lots of people losing lots of money) and stop trying to claim that its some noble, useful enterprise you are engaged in or that it's even a 'hobby' because it's not and your only deluding yourself if you think that it is

Well its not a ponzi scheme, and whenever someone says that they lose all credability to me.

 

[Caracus2k]

Well its not a ponzi scheme, and whenever someone says that they lose all credability to me.

Something that has no intrinsic value or body backing it that only has/goes up in value based in the expectation that it will at some point in the near future continue to go up significantly in value....


Its a ponzi style scheme all day long......

The only difference is the lack of a single crook or a group of crooks to start it off like traditional ponzi schemes

 

[Zhuni]

Genuinely shocked to see that kind of increase for a lowly 1060. I genuinely feel for anyone wanting to get into PC gaming and having to start from scratch. Crazy pricing and **** miners I say.

Honestly it makes it quite easy. You just buy a console and forget about pc gaming. That's what I've done until this changes. My wallet is very happy. Got £1500 for a build but it's staying in my bank