£1200 for an rx6800xt?!

[Grim5]

How long before this gen is not profitable for cryptocurrency? when that happens prices will plummet and ebay will be full of second hand GPU's.

Nerfed mining GPUs will hit stores early next month

ETH mining will be nerfed by 20% in July by the provider

and ETH mining will be shutdown in December


So I would say ETH will become dead for mining sometimes between July and December

 

[Sarge2255]

Nerfed mining GPUs will hit stores early next month

ETH mining will be nerfed by 20% in July by the provider

and ETH mining will be shutdown in December


So I would say ETH will become dead for mining sometimes between July and December

Why will they shut it down? Who is doing the 20%?

I also think miners plan to sell their worn out cards on auction sites to reap their profits.

 

[Temp.sgk]

It will be better if they can reduce mining to like 90% or 100% on new cards, why this arbitrary 50% limit?

 

[Sarge2255]

It's a real shame to see all these retailers scalping us, sneaking the scapled prices in bundles and blatantly in their pricing.

 

[Darujhistan]

I don't get it .
Shop list A product and puts a price tag on it.
A customer comes along And buys it or not.
This is the real world.
Coming here crying for price To high is unreasonable, it makes you look like a kid who can't get candy.

You live is capitalist country, supply And demand .

On the other Side , price is ridiculous.

Part Of me believes We entering middle point.
Eth mining profits Going down roi going up and this thing is leveling Up.
Now we should Start going downhill .

How fast no one knows.

Facepalm. Not this old trope again...

It's such simp-listic nonsense. The point isn't that the consumer is not forced to buy, it is about ripping the consumer off...which in time leads to increased prices across the board,Titans>Turning>This gen>Next gen...prices have increased exponentially and they will do so again because even with supply and demand back to normal precedents have been set.

This is what short-sighted people like you never see, you never look beyond the Captain Obvious uhhhh it's capitalism/don't have to buy duuuhhhh...

On the other hand you seem to happy contradicting yourself, so God only knows what you mean, I doubt you know either.

 

[Gerard]

I thought there were listings Sapphire 6800XT OC+ SE and Red Devil LE ... They no longer seem to be there.

Unless they sold out in 5 seconds recently they seem to have removed them from sale as there was 10+ of each earlier today. Still have the gigabyte (which i wouldn't touch with a barge pole) and red devil regular listed

 

[ubersonic]

Oh please, they are all at it. All the way up the chain from the AIB makers, to the shipping companies, to the distributors, and to the retailer. They are all taking their chunk.

I mean, that wasn't an opinion you quoted it was a statement of facts. I don't like it either but burying your head in the sand and blaming retailers even after the situation has been explained won't change anything.

It's a real shame to see all these retailers scalping us

Would you prefer it if they didn't sell the cards at all?

Because that's their only other viable choice (I say viable as they could just sell the cards below cost and go out of business, but that's hardly viable).

 

[Sarge2255]

I mean, that wasn't an opinion you quoted it was a statement of facts. I don't like it either but burying your head in the sand and blaming retailers even after the situation has been explained won't change anything.



Would you prefer it if they didn't sell the cards at all?

Because that's their only other viable choice (I say viable as they could just sell the cards below cost and go out of business, but that's hardly viable).

I'm trying to believe you but a £ 500 product being scapled for £1200 is just plain overcharging. More than double the price! That's just awful to see how greedy people have become.

 

[Freddie1980]

Why will they shut it down? Who is doing the 20%?

I also think miners plan to sell their worn out cards on auction sites to reap their profits.

You also have ASIC's coming online now for Ethereum which will further make GPU's less efficient as the difficulty rate goes up (this is what pretty much killed GPU bitcoin mining back 16/17)

 

[McNish]

Yah, retailers should not be selling cards at that price if it means they would be seen as scaplers, who already have a bad reputation.

They are killing the GPU industry and taking advantage of the consumer during a pandemic. It is morally wrong, they have power of getting the stock and they're abusing it, then making excuses that no one believes.

Let's hope senior retail staff are not taking the RTX 3090 GPU shipments for below msrp, and then building 3090 mining farms in their back gardens.

 

[ASMB]

Most of the price hike seems to be coming from the AIB partners, until people stop paying these prices it will continue, example, https://youtu.be/EzzAf64QwBU?t=656

We have been here before when GPU have quickly sold out and been scalped on ebay, how accurate are the MRSP nowadays?
AMD RX Vega 64 could get more expensive as ‘introductory’ pricing ends | TechRadar

 

[ubersonic]

I'm trying to believe you but a £ 500 product being scapled for £1200 is just plain overcharging.

You're mistakenly assuming the retailers get the "£500" products for £400-£450 then instead of selling them for £500 whack on an extra £700 to gouge consumers, they don't. They get them from the distributors, whack on a % to cover their operational costs and profit margin then sell them, the problem right now is that distributors are charging silly money to retailers, you can't sell something for £500 if the suppliers want £1100+ for it, that's just a non-starter.

Like I said before, if it's causing major issues for Dell, to the point they're having to withdraw some models from sale because the parts cost so much they would be selling systems at a loss, then it's going to be causing major issues for all retailers.

 

[McNish]

You're mistakenly assuming the retailers get the "£500" products for £400-£450 then instead of selling them for £500 whack on an extra £700 to gouge consumers, they don't. They get them from the distributors, whack on a % to cover their operational costs and profit margin then sell them, the problem right now is that distributors are charging silly money to retailers, you can't sell something for £500 if the suppliers want £1100+ for it, that's just a non-starter.

Like I said before, if it's causing major issues for Dell, to the point they're having to withdraw some models from sale because the parts cost so much they would be selling systems at a loss, then it's going to be causing major issues for all retailers.

Sounds like utter nonsense to me. If the product costs £500, it obviously cost them less to make. Usually half the price so £250- £300.

This same £300 item is now being sold for £1200 by retailers , they are making huge profit.

You think people are stupid! If scaplers are getting gpus for msrp using bots and other ways, how are retailers not getting it for cheap or at least not msrp at the very least.

 

[ryhoper1]

I had a long history of owning nitro cards and had my eye on one of these, I needed a card with 3 display ports and the nitro was the only one at the time that had this. But when they were released in such limited numbers for crazy prices I jumped on a 3080 ftw3 that bacame available at the start of Dec.

The crazy thing is I could sell that to a certain shop and buy one of these for £1200 and still have £300 profit in my pocket. Things really are nutts.

 

[Harlequin]

2 events for ETH mining this year - the first is the London fork

EIP-1559: Major Ethereum Code Change That Reduces Supply Set for July - The Street Crypto: Bitcoin and cryptocurrency news, advice, analysis and more

As ETH is moving to proof of stake and away from proof of work, the `money` system is being changed first, so income will be reduced.

The second is Serenity or Etherium 2 ; this is the full change from proof of work to proof of stake

What is Ethereum 2.0 and Why Does It Matter? | EC-Council (eccouncil.org)

which will likely end mining of ETH.

However - there are many other alt coins a gpu can be pointed at to mine.

 

[speeduk]

The thing is the big mining boys (chinese government) will invest heavily in the next big coin and pump its value and mine that. There are a few right now that are the same profit that etherium was just a few weeks ago due to a massive surge at the moment. This Eth only nerf is pointless and they know it. That is unless it nerfs all mining.

 

[ubersonic]

Sounds like utter nonsense to me. If the product costs £500, it obviously cost them less to make. Usually half the price so £250- £300.

This same £300 item is now being sold for £1200 by retailers , they are making huge profit.

Except the part you're missing (even though it was literally explained to you in the post you quoted) is that retailers are charging £1200 for something that normally costs £500 because they're being charged like £1100 not £300 (not that they were ever being charged £300 in the first place, but sticking with your example).

 

[FredFlint]

Sounds like utter nonsense to me. If the product costs £500, it obviously cost them less to make. Usually half the price so £250- £300.

This same £300 item is now being sold for £1200 by retailers , they are making huge profit.

You think people are stupid! If scaplers are getting gpus for msrp using bots and other ways, how are retailers not getting it for cheap or at least not msrp at the very least.

A lot of retailers need high volume to make money, sales of GPU's by retailers must be way down for most as they cannot get them so when they do they jack up the price to help cover the loss of volume.
Will be interesting to see how they do when ebay has thousands of cheep second hand one. Some will never buy second hand but a lot will if the price is low enough.

 

[ASMB]

If ebay has thousands of cheap gpu then it will end the scalping. The theory of supply and demand would mean that the AIB partners would reduce their prices to retailers, who in turn could reduce their prices to individual buyers. However, it still needs mining to become unprofitable as miners would buy up some gpu if they can still make good profits.

 

[Sarge2255]

Mining , is obviously a problem , I reckon the new Nvidia mining cards ought to reduce them buying up cards.

Except the part you're missing (even though it was literally explained to you in the post you quoted) is that retailers are charging £1200 for something that normally costs £500 because they're being charged like £1100 not £300 (not that they were ever being charged £300 in the first place, but sticking with your example).

I agree, I don't believe this either, great excuse ! How are scalpers getting them at msrp all day long?