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GPU prices go boom

DarrenM343 said:
I know, in life need to be wary of winding others up as things can quickly turn :).

Head of a company would never ever lie :).But I'm not saying she is, it's irrelevant to be honest, but mining itself may have peaks and troughs so more supply (lower mining demand) may hit the market and help bring prices down. It's not out of the question that mining might be unprofitable for a while and loads forced to offload their GPU's, bringing prices down, potentially quite a lot, at least used.
Any demand affects shortages BTW, rather obvious I know, but to say miners are not affecting it is incorrect.
And Ive done mining too btw.
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Then I guess Lisa Su, top dog at AMD, the GPU maker, is lying.... and lying to their investors? Ok.

It is out of the question, mining is still profitable. It's just gone from insanely profitable to profitable. As long as it's in the green, people will keep mining.

I have read a few people say it's not profitable and pointless, which is incorrect.

And prices will fall when manufacturers start pushing the memory out. Everyone is a winner.

EDIT: You have done mining or still do?
 
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Scramz said:
Then I guess Lisa Su, top dog at AMD, the GPU maker, is lying.... and lying to their investors? Ok.

It is out of the question, mining is still profitable. It's just gone from insanely profitable to profitable. As long as it's in the green, people will keep mining.

I have read a few people say it's not profitable and pointless, which is incorrect.

And prices will fall when manufacturers start pushing the memory out. Everyone is a winner.

EDIT: You have done mining or still do?
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Doesn't matter what someone says, and she may have not been intentionally lying, but any demand affects supply, that's obvious. If there were no miners, there would be a bigger supply available to gamers, and vice-versa too (more supply for miners if no gamer demand) :p.

Stopped last week. For me it was more of a trial but keep an eye on how others are doing :). But for me, cost of electric, cost of purchasing GPU;s, (for those that buy them), their depreciation, wear and tear, the need to upgrade to maintain profitability , I think as things currently stand it's not worth it (to me anyway), if cashing out as income.
If the market heads lower it'll get worse, probably, if higher, yep the good time will roll again. One of the problems I feel is that there are too many miners now - the more there are, the lower the profits.
Someone told me late last week how much they were still earning and I wasn't impressed given the amount of hardware they had. Forgot actual figures now but memory of "is that all "remains :).
Question I asked myself too was maybe would actually be cheaper/less hassle to just buy the currency if I believe in it, not the equipment to mine .
When you mine with a GPU that might have cost £430 for 24 hours at full whack and you make a profit of a little more than the price of one quarter of a baguette in some parts of the country :). I also don't have the motivation to keep looking for the best thing to mine for a few quid a day either.

I picked up two 1070 Ti's to mine with in Dec. That's two cards taken out of the supply, wasn't it?. It was a bit different for me though as I was considering trying Sli, so now they're gaming cards. COuld chuck them into mining at any time if I wish but for me at the moment I don't feel its worth it and not expecting the good times to roll again in the near term (could be wrong!).
Yep, hopefully can sort the memory supply issues out soon :).
 
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DarrenM343 said:
Doesn't matter what someone says, and she may have not been intentionally lying, but any demand affects supply, that's obvious. If there were no miners, there would be a bigger supply available to gamers, and vice-versa too (more supply for miners if no gamer demand) :p.

Stopped last week. For me it was more of a trial but keep an eye on how others are doing :). But for me, cost of electric, cost of purchasing GPU;s, (for those that buy them), their depreciation, wear and tear, the need to upgrade to maintain profitability , I think as things currently stand it's not worth it (to me anyway), if cashing out as income.
If the market heads lower it'll get worse, probably, if higher, yep the good time will roll again. One of the problems I feel is that there are too many miners now - the more there are, the lower the profits.
Someone told me late last week how much they were still earning and I wasn't impressed given the amount of hardware they had. Forgot actual figures now but memory of "is that all "remains :).
Question I asked myself too was maybe would actually be cheaper/less hassle to just buy the currency if I believe in it, not the equipment to mine .
I picked up two Ti's to mine with. That's two cards taken out of the supply. It was a bit different for me though as I was considering trying Sli, so now they're gaming cards.
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Buying the hardware is a better option as you how your original investment in the hardware.

Also depends on your setup. If you use an OS that is completely automated you just leave it doing its thing. I haven't seen my machines in a few days. But I know that are running away as my phone get notifications.

Most people are basing none profitability on current GPU prices. It was only 2-3 weeks ago a 570 was £200. Even at that price today it's still profitable.

And some also base it on Nicehash profitably, which is nearly zero earnings.

My two machines are earning more than the national minimum wage in profit, even at this low market. Which is not bad for a hobby that you set and leave. Mining is very much profitable.

I agree that current GPUs prices would make ROI longer, but still money to be made and would be unwise to say otherwise.
 
DarrenM343 said:
Doesn't matter what someone says, and she may have not been intentionally lying, but any demand affects supply, that's obvious. If there were no miners, there would be a bigger supply available to gamers, and vice-versa too (more supply for miners if no gamer demand) :p.

Stopped last week. For me it was more of a trial but keep an eye on how others are doing :). But for me, cost of electric, cost of purchasing GPU;s, (for those that buy them), their depreciation, wear and tear, the need to upgrade to maintain profitability , I think as things currently stand it's not worth it (to me anyway), if cashing out as income.
If the market heads lower it'll get worse, probably, if higher, yep the good time will roll again. One of the problems I feel is that there are too many miners now - the more there are, the lower the profits.


:).
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I've snipped it a little. I'm just interested in how you work out the profit or the number of miners.

How are you calculating Wear and tear?
Were are you getting the figures for "too many miners"

What were you mining last week? Post a screen shot of your wallet so we can see if you were mining the correct coin.

We're here to help but i fear you may not have a good understanding of how this all works so are selling yourself short with your potential earnings
 
There's also residual values of hardware to factor in.

Hardware is worth more at the moment because prices are inflated, so you have a reasonable amount of cash tied up in your rig. That's fine if you bought when prices were low, as it's increased in value (eg my 1080 is worth about £250 more than I paid for it) but it's a problem if you bought at current prices. If there's a crash and enough people cash out, it's a given that the Bay will be flooded with "never been used for mining" cards, which will drive the value of your hardware through the floor.

Of course, that assumes hmrc doesn't come knocking...
 
V F said:
Terrible.
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For me, mostly, I'm waiting to finally upgrade my rig before ploughing through all the games as yet unplayed. I could play them now, but my PC is just ancient. Like 2012 ancient. Positively pre-historic.

Waiting for Ryzen refresh and nV's next gen, really. Current gen is too old now to be worth investing in.
 
FoxEye said:
For me, mostly, I'm waiting to finally upgrade my rig before ploughing through all the games as yet unplayed. I could play them now, but my PC is just ancient. Like 2012 ancient. Positively pre-historic.

Waiting for Ryzen refresh and nV's next gen, really. Current gen is too old now to be worth investing in.
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Exact same position as me, my 780Ti is on it's last legs.
 
Scramz said:
No reason for anyone to have the last laugh. Lisa Su her self said in the financial report that miners are not the reason for GPU shortages, it's a lack of memory supply. And with any form of shortages = higher prices.

Unless the horse's mouth is lying?! ;)

The 'must be the miners' brigade will choose to ignore that though.
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Do you honestly think anyone at AMD believes that miners have no impact on GPU demand?

Do you honestly think anyone, anywhere, believes that demand vs supply has no impact on pricing?

Have another quote "directly from the horse's mouth", and try again:

Speaking with technical marketing manager at AMD, Damien Triolet, however, AMD’s outlook seems to be a little less rosy for the foreseeable future.

“For us, mining is a very dodgy topic,” Triolet says. “We could go all-in and just advertise all our products as good for mining, but at the same time there is a situation with mining that is pushing GPU prices up, and causing some availability issues on some markets. To be realistic, we cannot do anything about that right now.“
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https://www.pcgamesn.com/amd-encourages-cryptocurrency-mining

So I guess he's "lying" and only Su is "telling the truth", and that Su genuinely believes the GPU market works differently to every other market based on supply and demand... interesting :p
 
FoxEye said:
For me, mostly, I'm waiting to finally upgrade my rig before ploughing through all the games as yet unplayed. I could play them now, but my PC is just ancient. Like 2012 ancient. Positively pre-historic.

Waiting for Ryzen refresh and nV's next gen, really. Current gen is too old now to be worth investing in.
Click to expand...

The real problem is GPU prices, otherise it'd be a great time to build. I have a feeling Nvidia's next gen is going to make your wallet bleed...
 
mattyg said:
I've snipped it a little. I'm just interested in how you work out the profit or the number of miners.

How are you calculating Wear and tear?
Were are you getting the figures for "too many miners"

What were you mining last week? Post a screen shot of your wallet so we can see if you were mining the correct coin.

We're here to help but i fear you may not have a good understanding of how this all works so are selling yourself short with your potential earnings
Click to expand...
Was mining the OCUK pool and also trialling the two 1070 Ti's on nicehash using their latest beta (non legacy). Probably a bit wet behind the ears :) but wanted to see if someone without too much knowledge could just setup and go. Probably was mining for 7 or so weeks in total, OCUK pools (1950X worked well) and then nicehash on and off for a week (a week in total, on and off for about 2).
Give me a recommendation and I'll see if I can try it if my machine is accessible remotely this week or maybe next. Had an issue waking last week so might have to leave it on 24/7 anyway. I saw ZCash mentioned elsewhere on the forums and something else mentioned but never got around to trying anything else. Not too bothered but would give something a try, partly out of interest :).
 
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Were well it all end? All the wasted energy running those mining rigs.

Is it just a sham to get us to devote more and more processing power to the system, what are they really using it for?
 
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