If people stopped buying their products, they will realise soon enough, that 'They're too expensive'
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When will GPUs return to normal pricing....
- Thread starter Nexus18
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If people stopped buying their products, they will realise soon enough, that 'They're too expensive'
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No, it's not very slowly at all. Over the last 30 years the average inflation rate is 3.3%. What you fail to grasp is the power of compound inflation which makes it very fast indeed. £1000 in 2018 is the equivalent of £379 in 1988. In other words if you let money just sit in your bank account for 30 years then almost two thirds of it has been silently taken from you, I wouldn't call that 'very slowly'. We're currently in a dire situation economically due to covid, with the money printers working overtime we could soon see a rapid increase in inflation.
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so you sugguest putting it in mining instead where you can loose it in a day?
sorry couldn't resist.
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Who said anything about mining? If you managed to get your hands on a new GPU then mining crypto wouldn't be a bad idea since it's currently profitable. Crypto can have some wild swings but it's never going to lose all its value in a day.so you sugguest putting it in mining instead where you can loose it in a day?
True, I've never mined before but based on pricing thought why not, even if Eth crashes it's unlikely to drop way down any time soon... and it does no doubt it will recover to at least break even at some point.
I added the RX580 I was about to sell to my Vega, did some basic optimisation (95W/140W) and now making >300% profit according to a calculator and that's using wall power which is ~30% higher than 'net GPU power' even with a recent Gold PSU.
Also I'm now sat in a nice warm room so haven't needed to use the heater every half hour while working from home.
From initial results should net £25 per week + savings from not running a fan heater to keep the room warm.
Actually seem to be ahead of that... something to do with high transaction fees.
gigabyte is doing the same, cards are going up by $80 on average in the US
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I would, over the course of 30 years. Very slow indeed. So slow you won't notice it in day to day life dealing with your normal cashflows, and entirely irrelevant for investments which shouldn't be in cash in the first.
This is just a scare story that alternative 'economists' tell each other, not really rooted in fact. The problem we face is likely the opposite - stimulating some form of inflation.
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It might, or it might not. ETH still hasn't beaten its all time high, and lots of coins haven't really seen much of a boost at all from the current rally.
Remember, past performance is really no indicator of anything in a market that is driven almost entirely by sentiment, which cryptocurrency is.
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Then we have different understandings of the word slow. Maybe if you don't have much it seems insignificant, but if you have over 100k saved I'd notice 17k over the span of 5 years.
It only needs to hit 25% of current price to break even with energy, if I account for savings in heating, probably more like 10%.
Worst case I'm in for £8 per week with a chance to come out ahead. One good week, pays for 4 more weeks of chance.
Buying a lot of crypto with cash or buying multiple GPU's to mine would be a different risk, though if you've just paid scalper tax on your new 30 series, no harm in making a few ££ back. 1 month on a 3060TI would clear > £100 profit.
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You don't keep £100k sitting around as cash for long periods, that's literally the point I'm making.
If you want cash to grow, invest it. For day to day to day use, the value is stable enough to be irrelevant.
Cryptocurrency is not "safer" than this because it's all over the place every day, uninsured and all sorts. Cryptocurrency *may* grow your money over time but is very high risk, and you may lose it all.
If you have 100k sitting in cryptocurrency, unless you're rich enough you can afford to lose it all, you're a fool. Diversify.
There is no perfect store of value, where your money can grow ahead of inflation, and you'll also take on zero risk. And neither should there be. The work you did yesterday should be less valuable than the work you did today, as it's more recent. If you want to grow your money you should risk it investing in something productive.
It previously dropped from $1200 to under $100, well under 10%, then hung around near the $200 mark for a couple of years..
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Where would you currently invest it? Savings accounts are a complete waste of time with the interest rates being so low currently, they won't get anywhere close to keeping up with inflation. There's a significant risk of losing money if you invest in stocks right now. There is no safe haven investment option, Bitcoin seems as good a long term investment as any. There's a reason institutional investors are pouring big money into Bitcoin.
Plenty of places to Invest that are far less volatile than Bitcoin . I have a £100k in Vanguard Life strategy 60. Thats 60% equities and 40 % bonds. I'm not saying its safe as houses but 7.84% return YTD so includes the Covid drop. 2019 was over 15%. A slight loss in 2018 but 2016/ 17 were substantial gains.
Where is the significant risk in stocks at the moment ?If there is and I haven't seen its its not long term and thats the point, yet you want to lump on Bitcoin long term ? There isn't an IFA on the planet who would recommend Bitcoin.
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Had an argument with my boss who reckoned bitcoin would take over the world's currencies like 5 years ago. Still reminding him how wrong he was and is still. Funny to hear people think of gambling as a safe way to invest big money, but I suppose if you know how to play the system then there is no loss. That's all bitcoin is. People playing the system to make the 1percent big money..
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Soldato
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You know they've gone mad when a white 3090 is $95 more expensive than one with a waterblock on it.
Soldato
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Plus IFA's wont get any fee from bitcoin.
Bitcoin has always been far too volatile to be a legitimate currency, you can go to the store two different days and pay two completely different prices - that's never going to work. Imagine the chaos of the British pound was swinging up and down by 20% on a daily basis
xx60 parts with an official RRP of $530
Hahahahahahahahahahahaha.
e: LOL, it's worse. I missed the $600 xx60 part
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He might have been wrong, but if he was invested in Bitcoin 5 years ago he made a 7953% return on his investment and probably doesn't care
.The main reason it's volatile is that it's still in the early days. That's likely to change long term especially now that big money is coming in from institutional investors.
