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Used GPUs flood the market as Ethereum's price crashes below $150

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Gregster

Gregster

Gregster

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Used GPUs flood the market as Ethereum's price crashes below $150 Over the past few months, there has been a GPU shortage, forcing the prices of mid-range graphics cards up as cryptocurrency miners from across the world purchased hardware in bulk in search for quick and easy profits. This has forced the prices of most modern AMD and certain Nvidia GPUs to skyrocket, but now these GPUs are starting to saturate the used market as more and more Ethereum miners sell up and quit mining. Some other miners are starting to look at other emerging Cryptocurrencies, though it is clear that the hype behind Ethereum is dying down. Earlier this week Ethereum's value dropped below $200, as soon as the currency experienced a new difficulty spike, making the currency 20% harder to mine and significantly less profitable. This combined with its decrease in value has made mining Ethereum unprofitable for many miners, especially in regions with higher than average electricity costs. Now Ethereum is valued at less than $150, with the currency costing $134.97 at the time of writing, which is less than half of the currency's peak value. The currency has the potential to bounce back, though it is difficult to see the currency go back over £250 in the near future. On second-hand sales websites like eBay and Gumtree, we have seen a lot of new GPU listing appear in recent days, with plenty of used AMD RX series GPUs appearing over the weekend. More hardware is expected to hit these sites over the coming days as some miners wind down their operations, though many will simply move to a more profitable currency or to invest their computing power into an emerging Cryptocurrency that has the prospect of high values in the future.
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https://overclock3d.net/news/gpu_di...ab39a2a5b42051e&at_ab=per-2&at_pos=0&at_tot=1

I personally wouldn't want to buy a mining GPU but hopefully we will see prices stabalise on the new front.
 
With a flood of used GPUs hitting the second hand market there is the potential for a lot of miners to lose a lot of money if they boarded the hype train and spent serious money on GPUs and now try to off load them, hopefully these people wont go back to it again so next time around its not quite as bad as it has been this time.
 
Seems legit. Checked ETH Price... LOL!!!

Article Published 16th July...

Now Ethereum is valued at less than $150, with the currency costing $134.97 at the time of writing, which is less than half of the currency's peak value. The currency has the potential to bounce back, though it is difficult to see the currency go back over £250 in the near future.
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Now what does he mean by near future? A few months?...



Conclusion... Guy doesn't have a clue.
 
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Haha, that will teach me to not read the date and just follow links. My bad sorry guys and will ask for the thread to be closed. Wishful thinking on my part :(
 
1ltuwg.jpg

:D
 
Good about time only bad thing that they done is EVGA will not be doing the guest rma in the usa and if it comes to the uk ill go full donkey smash.
 
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