Bitcoin Forum

GPU prices are crumbling on aliexpress right now, it's good to see rx580 brand new at 300$ again last time it was 500$ as old as the card is, Polaris for that matter lol, I have a feeling that this BTC recovery of 44k could be the last, I also see many selling their GPUs already, they are smart to be honest I imply you all do the similar.. Later when things cool off you can start buying back, don't be the scape goat.

Even if perhaps eth mining is nearing the end and bitcoin's value growth will be the last one(i don't think so) personally i will not sell any of my 3 gpus (1 580 and 2 2060) i will keep them to play video games at most i could think of an exchange with a 3060

Nope sorry I'm not selling any GPU, I'm waiting for people to start selling their cards as well so that I can buy more even when 30MH is doing 0.20$ per day, it's not about the USD value of the coins for me it's about the quantities.

It's good strategy, sell now and buy later but what do you think will happen if PoS algor got postponed again? You won't like yourself if this is the case later on, every think ETH Pow is going away something that's not been 100% precise.

That's right, it's wise to sell most rigs in 1-2 months but keep mining with some of them just in case there's a PoS delay.

The reason why the prices are falling is because of the upcoming ETH merge and you won’t be able to mine ETH anymore. The Polaris held its value because it was a good value mining GPU, in terms of games there are other GPUs out there. So it’s value is mostly there as long as ETH is mineable which might disappear this June.

Most likely when the exact date and block is confirmed for the merger you will see that many sellers are increasing their supply and decreasing their prices because these GPUs won’t have much use. Unless you got like free power at work and will be happy making a nickel or dime a day per GPU mining etc.

I haven't been mining for years but isn't rx580 a GPU from 2018 or before? I guess it is the surging crypto prices that created this madness.

However, if it is that profitable to mine crypto right now, people won't sell their cards because they already probably ROI'ed them >10 times. So selling them will make no sense really. Instead, they'll keep running them till they fail or become unprofitable.

Buying and selling large amounts of GPU's is not as easy as you think. Not worth taking the risk and going through all that mess imo.

The RX 580 is from mid-2017. The only reason it's profitable is high ETH prices. This is probably one of the worst cards to own post-PoS. The efficiency on any non-ETH coin is awful.

The best video card models are probably going to be the RTX 3080 Ti, RTX 3060 and RX 6800 non-XT.

Making a dime a day? I wouldn't think like that if I were you because the quantity of coins I'm mining is what matters to me the most not value in cents and dollars, I want to have 15 million shiba inu coin, 5000 FLUX coin, 10,000 ravencoin, 500 ergo, millions of opendao token, Millions of XEC, I don't care what their value would be in USD I care about low mining difficulty.

This is bad advice, do not sell your GPU based on a rumour that might never come true, ETH team might still change their plan once again just like they have always done in the past, also this isn't the end we have other coins that will remain profitable when ETH goes proof of stake.

Like others have said, the other coins will never compensate for the loss of block rewards due to ETH disappearing. ETH makes up 95% of the total revenue available to GPU miners. Profit on the other coins after PoS will collapse to barely breaking even above power cost. The get-rich-quick miners who were expecting a 400-day payback time will panic once their profit margin gets squeezed to 0. They will exit the market while they can still get decent prices for their hardware on feeBay.

I hope such will happen I'm willing to buy back their graphic cards if any wants to sell, also I will wait for mining difficulty to decrease a lot before I start mining again, my main target isn't USDT per day but the quantity of the good altcoins like Ergo, BCD, RVN that I will end up having in my wallet in under 4years scenario.

Same here! I cannot wait for PoS. I'm going to be ready to buy hundreds of video cards and start a warehouse again.

So you used to run a warehouse for mining? What happened? The smartest choice a miner can make is never stop mining even when everything looks impossible, the best gift you will get at this time is low difficulty.

The difficulty can drop a little however it doesn’t mean it will be worthwhile mining. There are many people out there which live in areas with very cheap or free power and their cost of living is very low. So for one individual mining to make a nickel per day might be worthwhile but for someone in USA it’s a waste of time.

During the bear market of 2018-2019, the profitability was basically $0 if you paid $0.10 kWh. People assumed difficulty will fall further but it never actually did. So those with perhaps 0.05kwh power made a little while most people mined at a loss.

RX580 are released in April 2017 and till date they are still powerful for gaming on PC, the reason why these cards still have a long life for mining is that they have 8GB memory, RX580 is going to be here for a long time

It's a long story, but I basically built the warehouse at the peak of the ETH price cycle. The total hashrate was 5 Gh because an investor who wanted to buy 20 Gh quit at the last minute after ETH price started falling.

The value of the video cards crashed and the profitability crashed. Because I didn't know anything about energy markets, the power cost was 11-12¢/kWh. I was unable to pay the rent and my business partner fled.

I wish I had understood the 'difficulty' part long ago. I should've kept mining during 2014, 2015 and 2017. I should've saved at least 25% of my DOGE & ETH. Well, at least I learned my lesson now; which is why I want to try again, with 6 cent power  and cheap GPUs this time.

Make sense because RX 6600 are around $330sh brand new right now, at least in the states.

If those people who mined at a loss like I did during this time and were being paid in Bitcoin hodled until February 2021 as a minimum would have made a killing.Fortunately I was one of the ones that did so and won like 40K dollars profit which some I withdrawn and some I reinvested,am still mining with just 330 Mhsh of power and I will keep buying cards now that are cheaper,have a couple of free slots to put some new or old GPU-s I don't care as long as they will increase my hash power.Now the government here want us to go from 0.08 USD to 0.18 USD per kilowatt but so far strong resistance from the people,even if the price goes that high I will still continue mining because I have the economic power to do so and in the next bull run I hope to make another killing profit.

Don’t know if you guys heard but POS was postponed and won’t happen in June. Most likely in Q3 sometime. Basically they ran into issues and didn’t want to rush with this important update.

I was pretty sure June would be the date but their tone completely changed from one week to the next. Guess the coding is so complex they run into issue after Issue.

So it’s good that nobody liquidated their farm yet.

Good to see prices stabilizing, we consumers are sick of scalpers over the past 2 years :)

I see a lot of news that video cards are getting cheaper in the US and Europe. If you wanted to sell video cards, then you should have done it earlier. It is wrong to buy video cards now, because they will become cheaper in the summer if the price of ethereum does not rise.

On the Amazon website or where? This RX6600 costs 500$+ in my country today, can you give me link to the exact website or store that you came across such a price for 6600? I want to build a 8x rig using 6600 and 6600XT only.

Finally, maybe we will start seeing mining difficulty decrease? I want Ethereum to go down to 1000$ again and yea this will make mining profit to be ridiculous, many will quit and that will be great.

 I've tried selling mine lately but no one seems to be interested. I think only people with no knowledge of mining would buy them high price. I won't sell them at low off course. I have bought them for 400 dollars each so I am aiming for 300 or a 250 maybe.

Newegg.com has been selling them for around this price the last week or so and they are constantly still in stock.

$335 right now for the ASRock model
https://www.newegg.com/asrock-radeon-rx-6600-rx6600-cld-8g/p/N82E16814930066 

I disagree, because now we're back to a 300-day payback time with GPU mining. According to data analysis I did on video card prices vs. mining profit since 2016, once payback improvves to 300-350 days, GPU prices plateau or even start rising again. When you can buy an RTX 3060L for $400 and make $1.32/day of profit @ 9¢ power, many people will buy them again for mining, even if PoS is 'coming soon'.

Assuming ETH price stays flat, difficulty will keep slowly climbing at 2-3%/month like it has since February. That will only mean 6-8% lower revenue, so GPU prices should be flat over the summer.

IMO, it's not a bad time to build a mining rig now, especially after the lead ETH dev gave his opinion that the earliest PoS will come is Q3 this year. The real 'suckers' are those who bought RTX 3060's for $600-700 each in December.

I think eth can't go pos until the market crashes.

Picture this. Eth goes pos in june with eth at 3000 a coin crushing gpu mining and casques a cascade of crashing coins and out current 1.8 trill total  of all coins cap drops to 600 bill.  Eth would right have to take the blame for crashing all of crypto..

Or eth delays till 3rd quarter hoping for a nice 50% crash before they switc too pos.  They can rightfully say the marketer had crashed already and the time for pos was needed to help th market up.

along with the second problem eth has.

AMD+Intel+Nvidia  all take a big hit if he switches to pos in june. crashing the market and stopping most gear sales for a year or two or three.

His best move is delay the switch to pos one or two more times. maybe all the way to feb 2023

If and only if the markets dump first do an early switch to pos.

That's probably because people know that rx580 graphic cards will be the cheapest of them all once merge on Eth is activated, that gpu is getting older every day but still capable, now that we have awesome AMD gpu like 6600XT I wonder why people will leave this for RX580s.

Correct. Efficiency will become the king again. GreedForce RTX 3000 cards, especially the LHR ones, will hold their value the best. Not a bad deal considering the LHR cards are still a bit cheaper for the same profit, as long as you run dual mining.

I think that after ETH PoS, these will be the numbers for an RTX 3080:

    Cost of an RTX 3080 (after tax) w/system parts + cooling + utilities: $350

    Revenue for an RTX 3080: $0.90/day yearly average (range: $0.70-$1.10/day)

    Power cost after tax @ 7¢/kWh: $0.27

    Depreciation @ 30%/year: $0.35

    Net income: $0.28/day for 360 days = 33%/year return

If you sell as little coins as possible (to cover rent/power) and HODL the rest, you could make a 300-800% ROI if another GPU gold rush happens in a year or two. You could then sell most of the video cards too.

At least these were how the numbers worked out during the 2019-2020 bear market.

Well said @stormhawk and @Coinfarm ventures, efficiency will take over once mining profit isn't looking very good anymore, graphic cards like A2000, RTX 3 series and RX6 series will take over, the lower your power consumption the better your mining operation, as far as the profit is lower than power consumption you will be able to keep up.

One more important point: according to leaked rumored specs, the new Intel Arc Xe series, GreedForce RTX 4000 and Radeon RX 7000 series will NOT deliver more memory bandwidth per dollar or much less wattage per GB/s. This means the new gen will not be more efficient for mining memory-hard algos (Ethash, Autolykos, Octopus, ...) than the current generation of cards. It will only be 10-20% more power efficient per GB/s.

The only buyers who will benefit from these cards will be gamers or if a core-intensive coin like RVN has a mining gold rush. So hold on to your existing cards.