• Competitor rules

    Please remember that any mention of competitors, hinting at competitors or offering to provide details of competitors will result in an account suspension. The full rules can be found under the 'Terms and Rules' link in the bottom right corner of your screen. Just don't mention competitors in any way, shape or form and you'll be OK.

Question about the mining boom

chaparral

chaparral

chaparral

Caporegime
Joined
27 Nov 2005
Posts
25,146
Location
Guernsey
Is the mining boom really over now and if so why is the second hand market not being flooded with second hand GPU's now ? :confused:


(I know nothing about mining so am guessing there a reason)
 
chaparral said:
Is the mining boom really over now and if so why is the second hand market not being flooded with second hand GPU's now ? :confused:


(I know nothing about mining so am guessing there a reason)
Click to expand...

Mining has been through several ups and downs over the last few years, it currently in a down as far as GPU mining goes but "serious" miners are unlikely to be dumping cards as they will want to be ready for the next up
 
I expect a good number are hoping it isn't over and especially holding their cards if they haven't made significant money back. Whether it is over over or not is another matter.
 
Rroff said:
I expect a good number are hoping it isn't over and especially holding their cards if they haven't made significant money back. Whether it is over over or not is another matter.
Click to expand...

For me it would be the other way round - I'd sell mine if they hadn't already made their money back... as I've already recouped all my costs I'm happy to hold and most of mine are still making more than they cost in electric anyway
 
andybird123 said:
For me it would be the other way round - I'd sell mine if they hadn't already made their money back... as I've already recouped all my costs I'm happy to hold and most of mine are still making more than they cost in electric anyway
Click to expand...
That what I was thinking

I would sell off while the second hand prices are still very high
 
There have been quite a few mining card sell offs in the MM lately.

Me I dont really care, made about half my money back and have a load of coins that may or may not rise in price. Just messing about with mining. :)
 
Realistically the potential for some crypto currencies to go up a lot more is very high whilst in the grand scheme of things, the number of people mining are actually still relatively low.
The mining boom will only be over if one of 2 things happen:
1 Crypto dies
2. The coins reach a peak price at the same time the difficulty of the coins has gotten to a point no other miners will enter.

If its no2 then that could be a while of ups and downs.
 
I did some.maths somewhere as I was tempted to drop 5k on cards and rest of the setup. I'm sure I would have made my money back in a year and started making profit had I started in beginning of 2016.

If I had done that, I would not be selling my cards now. I recouped and made a profit. Why not keep them in case it goes back up in the near term?
 
The market may be down but mining is still profitable - even if the cards are only making 10p a day, miners will hold on.
 
All the mining is based on a gamble anyhow - even once you've got the ETH or whatever, it's a gamble whether the price will go up / down. Many of the miners will gamble again with the hardware and simply keep it in case it becomes profitable again. Especially those who have mined enough to cover the hardware costs.
 
You must log in or register to reply here.
Back
Top Bottom