GPU panic selling?

[gpuerrilla]

Y
1 rig with 1 GPU using 550w is terribad

1x TR cpu 100% and 1x GPU.

 

[andybird123]

1x TR cpu 100% and 1x GPU.

Yes, its still awful, for like 10p a day profit according to the calculator. I mean, not that he cares because he's using his university's leccy, so actually taking the 50p a day as profit, but this is what gives miners a bad rep.

 

[gpuerrilla]

Yes, its still awful, for like 10p a day profit according to the calculator. I mean, not that he cares because he's using his university's leccy, so actually taking the 50p a day as profit, but this is what gives miners a bad rep.

See here Andy: GPU panic selling?

we are of the same opinion - then after my post he said about the TR (which explains way more wattage but exactly my point about miners bad rep).

 

[Sarge2255]

I'd be supprised if people are buying cards to mine right now since the the resale value is dropping faster than you can make back mining.

First off I'm not using that card or a single card - I have a smart meter so I know exactly how much leccy I am using with all my rigs running Vs all off. And I know exactly how much my payouts are. Working that out for a given 24hr period would be multiplication, so some people don't even know what function type they need to use.

If £180 a month profit is peanuts to you then that's fine, but I am quite happy with that, considering I started mining 5 years ago and now have over 20k tucked away having taken enough out to pay the costs off already.

Keep I'm fooling yourself. 20 k yah I expect you have a million stacked away too.

 

[KompuKare]

True, though there's a certain price floor where they become profitable to buy for mining again, and I think we'll reach it soon.

Example: 3060Ti's - were £1000+, now £700-800. Picking one up (non LHR) for less than £600 you're guaranteed to ROI by Christmas just sticking it on ETH and forgetting about it. There's also the decent chance that crypto booms back at ANY point in the next 6 months, and then you've got a card at an absolute bargain price.

Guaranteed!?
Slightly hyperbole, surely unless you also know next week's EuroMillions numbers?
The likes of whattomine don't offer historical values, but this place does
https://bitinfocharts.com/comparison/ethereum-mining_profitability.html#6m

A 3060Ti is meant to do 58 Mh/s while this chart only lets you see the 1 Mh/s rate, but still I cannot see anyone making their GPU costs back by Xmas unless relying on lucky - in which case they might as well just play the lottery!

 

[-Ad-]

Does he even use the PC to play games !

You see why OcUk's 1000 post voucher system is a total an utter nonsense!

These 1000 post members have a lot of miners, hidden on the forum with the sole purpose to purchase GPUs for thier minining activities and cover it up with excusses of gaming. The other 1000 post member claimed he was buying another GPU for his son, the other claimed it was for his neighbour.

Desperate times for miners is exposing them on the forum.

So firstly you ask the typical 'gaming crusader wah wah why does X deserve a GPU question'.

Then you complain about the OcUK MM system and how much nonsense it is.

Now you're looking to complain / witchhunt and expose 'M1nerrrzz'...... FYI anyone with a GPU from the last few years can mine.

I'd call that whining complainer BINGOOOOOOO COMBO !!!!!!!!!!!!!!

 

[pc-guy]

The coveted £10/MH rule for GPU price is dead. It is more like £5/MH if you intend to ROI before Dec.

If you have more than one GPU atm and they have been ROIed then it is a lot quicker to ROI the new GPU.

nevertheless, buying GPU right now to mine is mad as prices are unattractive. Prices needs to be below MSRP really to make sense for mining on new cards.

even a £600 3070 you are looking at close to 9month ROI. So the 3070 needs to be £400 to ROI. Maths gets worse for 3080 and 3090. 3060ti is non-existent so pointless to include.

 

[Haggisman]

Keep I'm fooling yourself. 20 k yah I expect you have a million stacked away too.

If he started mining 5 years ago, then TBH £20k is peanuts compared to what he could have had

 

[Jono8]

I sold my 3060ti to a certain high street store 4 weeks ago now and its still sitting on the shelf......

 

[andybird123]

Keep I'm fooling yourself. 20 k yah I expect you have a million stacked away too.

I have nearly 1 bitcoin for 5 years mining on ~10 GPU's, so a month or so ago it was 40k's worth, but I'm in for the long-term as already covered costs and won't start taking it out till it's like 300k for 1 bitcoin.

I started when bitcoin was like £1k, on a single gaming GPU and used my profits to buy 1 rig and then 2 specifically for mining.

In hindsight I wish I'd just put £1k straight in to coin.

I don't know what part of that seems far fetched.

 

[gpuerrilla]

The coveted £10/MH rule for GPU price is dead. It is more like £5/MH if you intend to ROI before Dec.

If you have more than one GPU atm and they have been ROIed then it is a lot quicker to ROI the new GPU.

nevertheless, buying GPU right now to mine is mad as prices are unattractive. Prices needs to be below MSRP really to make sense for mining on new cards.

even a £600 3070 you are looking at close to 9month ROI. So the 3070 needs to be £400 to ROI. Maths gets worse for 3080 and 3090. 3060ti is non-existent so pointless to include.

A classic miner will know this, I think we are explaining to the wrong audience. Haters of miners will never understand and they do not want to, as @-Ad- put it they just bitter because they cant buy or maybe they dont intend to buy, just like to complain.

The first thing you double down on as a miner is reduce overheads, minimise electric costs, plan ahead. Some jokers then try assume they are an energy expert and post their online graphs lol complaining of how unprofitable mining is, exposes them of how little they know, very blinkered lives they lead.

 

[BobShark]

I sold my 3060ti to a certain high street store 4 weeks ago now and its still sitting on the shelf......

Love this. Given the ridiculous prices they were offering to then blatantly scalp customers, I hope it rots with them!

 

[G J]

I dont feel sorry for CeX if they get lumbered with cards they cant sell or make a loss on as they play a part in dictating pricing of second hand cards.

Hmm I skip 5-10 posts and people are still taking this thread off topic with the mining willy waving.

 

[BobShark]

Prices at the high street store still falling like a stone.

One particular store still has 9 x 3090FE's in stock, they've been there at least a week or 2 and I'm pretty sure their sell price is now at or just above what they would've bought them for.

Oh the lols....

 

[Haggisman]

Hmm I skip 5-10 posts and people are still taking this thread off topic with the mining willy waving.

It's not really off-topic though, the "panic selling" is directly related to the recent drop in mining profitability, so discussing mining profitability is quite relevant to the conversation!

 

[Jono8]

Love this. Given the ridiculous prices they were offering to then blatantly scalp customers, I hope it rots with them!

yeh, their selling price is almost at the point i sold it to them for.

Wont be long before it is below that i dont think. They have lots of 3xxx series cards that have been sitting doing nothing for weeks now.

 

[KungFuSpaghetti]

Keep I'm fooling yourself. 20 k yah I expect you have a million stacked away too.

My boss started mining last year with proper dedicated mining setups and has minted over 9 ethereum coins already, several other alt coins and one transaction alone netted over £15k. So £20k spanning several years is peanuts.

 

[G J]

It's not really off-topic though, the "panic selling" is directly related to the recent drop in mining profitability, so discussing mining profitability is quite relevant to the conversation!

.....

This thread is hilarious, how did i miss this

I had to just check what the subject was, it's a classic... Talk about deviate from the main subject

Surprised the mods haven't jumped in to get it back on top . Never seen one go on for this long about nothing relating to the original topic lol.

This thread is worse than a SUN article. Total rubbish.

 

[Deleted member 66701]

Yes, its still awful, for like 10p a day profit according to the calculator. I mean, not that he cares because he's using his university's leccy, so actually taking the 50p a day as profit, but this is what gives miners a bad rep.

I don't mine on TR now, but before xmas it was doing 5 quid a day.

 

[Marine-RX179]

I dont feel sorry for CeX if they get lumbered with cards they cant sell or make a loss on as they play a part in dictating pricing of second hand cards.

I never understand CeX's business approach other than thinking that they operate on take advantage of consumers that don't know any better.

I mean I always see them pricing their 2nd hand consoles, games and gamepads and other peripherals at same or higher price than same product brand new on offers/deals elsewhere, and always think is that some kind of joke that I missed?