So Sick of the GPU situation

[Jono8]

Either way, mining clearly uses a colossal amount of power. But I doubt there are many in the developed world who can get on their high horse about it without being somewhat hypocritical. We all waste a colossal amount of power daily.

Exactly.

 

[henson0115]

poor polar bears..

 

[pc-guy]

I so regret not getting a pascal card when they first came out

You should have got pascal cards when 6-12months after Turing.

A better time was the sweet spot just before Ampere were released - a window of 4 weeks where 1080ti, 2070s, 2080s, 2080ti were going for stupidly low prices compared to now prices.

1080ti could was selling on MM for like £250
2060s was similar
And 2070s was around £270-280
2080s was around £320
With 2080 ti some sold for as low as £450.

how the world has changed in juts 5 months.

 

[McPhee]

You should have got pascal cards when 6-12months after Turing.

A better time was the sweet spot just before Ampere were released - a window of 4 weeks where 1080ti, 2070s, 2080s, 2080ti were going for stupidly low prices compared to now prices.

1080ti could was selling on MM for like £250
2060s was similar
And 2070s was around £270-280
2080s was around £320
With 2080 ti some sold for as low as £450.

how the world has changed in juts 5 months.

The past week has seen 5700 XTs go from £550-£600 on eBay to £650-£700. A few have even gone for over £700 (preowned). Utterly mental. That's £400 of inflation in five months, on cards which only had a ~£400 RRP to begin with.

 

[BlueInf]

You should have got pascal cards when 6-12months after Turing.

A better time was the sweet spot just before Ampere were released - a window of 4 weeks where 1080ti, 2070s, 2080s, 2080ti were going for stupidly low prices compared to now prices.

1080ti could was selling on MM for like £250
2060s was similar
And 2070s was around £270-280
2080s was around £320
With 2080 ti some sold for as low as £450.

how the world has changed in juts 5 months.

Yea the prices for second hand cards are insane.

 

[pc-guy]

The past week has seen 5700 XTs go from £550-£600 on eBay to £650-£700. A few have even gone for over £700 (preowned). Utterly mental. That's £400 of inflation in five months, on cards which only had a ~£400 RRP to begin with.

Apparently it is a good mining card. But only because it is cheap to start off with. But for that price I doubt it is good investment.

I can understand why the latest RTX3000 go for stupid prices. But don’t get why these older cards get the same hole. Their resale value would be horrendous if the crypto world ever calm down again.

 

[BlueInf]

Apparently it is a good mining card. But only because it is cheap to start off with. But for that price I doubt it is good investment.

I can understand why the latest RTX3000 go for stupid prices. But don’t get why these older cards get the same hole. Their resale value would be horrendous if the crypto world ever calm down again.

I think it's driven by a lot of new miners, who don't understand that they will have to resell and that the profit has some subtler factors such as:

• increase in the value of the coin in the meantime
• increase of difficulty in coin in the period
• but as well difference between buy and resell price of the card, as you mention.

It looks like some people just think that they can run it and take the same daily profit every day until the card dies or until next year and they hope to resell the card at the same price.

Some people may be burnt if the value of the coin does not follow up the increase of difficulty. Let alone if there is actually a crash.

Bitcoin is going for $50k soon ...

 

[Cyber-Mav]

Says here bitcoin mining will end in year 2140
https://decrypt.co/33124/what-will-happen-to-bitcoin-after-all-21-million-are-mined?amp=1

So a long wait now

 

[XeNoNF50]

Says here bitcoin mining will end in year 2140
https://decrypt.co/33124/what-will-happen-to-bitcoin-after-all-21-million-are-mined?amp=1

So a long wait now

No one is mining bitcoin with gpus so kind of irrelevant!

 

[Cyber-Mav]

Huh? They not mining it with cpu. Gpu or asics all the way

 

[Screenbeat]

Years and years with little break now we have seen miners systematically destroy the gamers GPU market. I don't blame the miners, but it really does make me question the sanity of the idiots who invented cryptocurrencies. They clearly didn't stop to think of the consequences of what they are doing. I mean not only has it completely wrecked the GPU market for gamers, but mining cryptocurrencies now consumes more electricity than the whole of Argentina. What a disgraceful waste of electricity.
With NVIDIA now releasing obsolete GPU's to make up the shortfalls for the PC builders, it really makes you wonder where this is all going. It seems that gamers are rapidly becoming second class citizens and the real market drivers here are the miners. And there is no sign of any reprieve for the gamers. All we get is escalating prices and obsolete gear. I'm so sick of it.

Rant over.

Chill dude! Find something else to do!

I have fishing bit moving to Oxford wasn't the best idea.

 

[BlueInf]

No one is mining bitcoin with gpus so kind of irrelevant!

People are mining ETH with GPUs, not so much BTC at the moment.

Also if you read your article it says that computations will still be done to validate transactions afterwards and people will be rewarded for them.

The problem is not that there is mining, there has been mining since the creation of Bitcoin. The problem is that it is so profitable that everyone and their dog is having a go at making mining rigs with multiple GPUs.

Because at the current pay rate, it is free money literally...

 

[Benass]

There is some news on us pushing for local manufacturing.

If you guys think gpus market gone to ****, its more than that.

There is global shortage on other chips as well. G5 infrastructure, Car manufacturers slowed down, this is a wake up call for EU and US. It becomes dangerous to rely on china’s manufacturing.


Its similar to a company refusing to train new ppl to do a specific task, and then run around like headless chickens when the old guy retires, and there is no one to replace him with. Complacency and relying on foreign manufacturing is dangerous
.
https://www.nytimes.com/2020/06/11/business/economy/semiconductors-chips-congress-china.html

 

[BlueInf]

Yes there is a global shortage of chips at the moment as well.

China has as well control over most of the rare earths, this is gonna be an interesting next decade.

 

[XeNoNF50]

People are mining ETH with GPUs, not so much BTC at the moment.

Also if you read your article it says that computations will still be done to validate transactions afterwards and people will be rewarded for them.

The problem is not that there is mining, there has been mining since the creation of Bitcoin. The problem is that it is so profitable that everyone and their dog is having a go at making mining rigs with multiple GPUs.

Because at the current pay rate, it is free money literally...

I am aware. Seems silly not doing it if the cost of the hardware has factored in that you 'can' do it.

 

[Jimbo]

Whilst I do sympathise with the op, and I was in the same boat I was lucky enough to buy a sapphire nitro +oc 6800XT of ocuk for quite a sum £865. This after months of frustration using alerts on discord and twitter. But like others I've decided rather than sell my old card which was pretty decent a power color Red Devil 5700XT I thought I'd try this mining thing out. And so far I started it Saturday night it's now Monday morning it's netted me £5.89 that's not bad considering maybe elected is a quid a day extra or in my case a fixed 25 a month tarrif. Id rather do that than the hassle of selling it on eBay and become a scalper lol. Although I could prob sell for at least £500 at moment. But I do hope the situation gets better for us gamers soon. Me.. If you can't beat them mine am I say.

 

[BlueInf]

Whilst I do sympathise with the op, and I was in the same boat I was lucky enough to buy a sapphire nitro +oc 6800XT of ocuk for quite a sum £865. This after months of frustration using alerts on discord and twitter. But like others I've decided rather than sell my old card which was pretty decent a power color Red Devil 5700XT I thought I'd try this mining thing out. And so far I started it Saturday night it's now Monday morning it's netted me £5.89 that's not bad considering maybe elected is a quid a day extra or in my case a fixed 25 a month tarrif. Id rather do that than the hassle of selling it on eBay and become a scalper lol. Although I could prob sell for at least £500 at moment. But I do hope the situation gets better for us gamers soon. Me.. If you can't beat them mine am I say.

You can mine with both cards on the same PC to make back the money you lost due to the markup.

 

[McPhee]

Although I could prob sell for at least £500 at moment.

Try more like £700. It's ridiculous.

 

[DaveGW]

I remember when you could get 'afternoon matinee at cinema, fishNchips, a lemonade and bus ride home for 2 shillings and sixpence.

 

[BlueInf]

This guy has decent hashrates lol:

https://flexpool.io/0x4368d11f47764B3912127B70e8647Dd031955A7C