gpu bubble well and truly bursting

[fistfullofbtc]

so in the uk it seems nvidia graphics 1060/1070 cards are now pretty much oos and selling on ebay for same price as new. So the bubble from what i can see is bursting, difficulty for eth has gone nearly 4x in few months. I guess everyone wants free money.

[Metroid]

If price stays the same, difficulty will not rise much and then after few weeks it will stabilize if price stays the same, profitability is low, people are getting out and they started selling their gpu's and many are following which means prices of graphics cards will crash especially in Europe where electricity is very expensive and people cant afford to mine, better to invest the money somewhere, returns are much greater. This is a good time to buy coins.

[fistfullofbtc]

If price stays the same, difficulty will not rise much and then after few weeks it will stabilize if price stays the same, profitability is low, people are getting out and they started selling their gpu's and many are following which means prices of graphics cards will crash especially in Europe where electricity is very expensive and people cant afford to mine, better to invest the money somewhere, returns are much greater. This is a good time to buy coins.

the guy who bought my rig didn't have a clue what he was doing, but that is how i started.

[h311m4n]

so in the uk it seems nvidia graphics 1060/1070 cards are now pretty much oos and selling on ebay for same price as new. So the bubble from what i can see is bursting, difficulty for eth has gone nearly 4x in few months. I guess everyone wants free money.

Yeah, and I'm pretty sure a lot of these people are noobs with hardware and will be like "please help, I bought overpriced cards to mine eth, now it's gone to POS, don't know what to mine". In a way I think this "bubble" if we can call it that is a good thing.

There are probably also those who buy the GPUs just to sell them back for more.

I'd still like AMD to communicate a bit more. It's hard to guess when some stock will get here. I read that a big german retailer was saying it'll take another 3 months for things to get back to somewhat normal...

[Vann]

Newegg and other retailers like Microcenter in the US have jacked up their GPU prices by 40% e.g. this Powercolor Red Dragon RX 570 4GB that I bought for $190 a month ago is now listed by Newegg for $270.

https://www.newegg.com/Product/Product.aspx?Item=N82E16814131717&ignorebbr=1

This will curb purchases for reselling, but just like the last GPU run-up in 2014, don't expect prices to come down anytime soon. Especially since GPU mining is more profitable now that it has been historically, including 6 months ago.

[iamnewhere]

so in the uk it seems nvidia graphics 1060/1070 cards are now pretty much oos and selling on ebay for same price as new. So the bubble from what i can see is bursting, difficulty for eth has gone nearly 4x in few months. I guess everyone wants free money.

who would by nvidia cards to waste his mining power on ETH?

[Metroid]

Newegg and other retailers like Microcenter in the US have jacked up their GPU prices by 40% e.g. this Powercolor Red Dragon RX 570 4GB that I bought for $190 is now listed by Newegg for $270.

https://www.newegg.com/Product/Product.aspx?Item=N82E16814131717&ignorebbr=1

This will curb purchases for reselling, but just like the last GPU run-up in 2014, don't expect prices to come down anytime soon. Especially since GPU mining is more profitable now that it has been historically, including 6 months ago.

Everybody is doing that, blame chinese manufactures, dont think amd is getting a dime on these deals. Boycott is what all of you should do, if you dont then they will keep doing it till you trolls learn the hard way.

[fistfullofbtc]

so in the uk it seems nvidia graphics 1060/1070 cards are now pretty much oos and selling on ebay for same price as new. So the bubble from what i can see is bursting, difficulty for eth has gone nearly 4x in few months. I guess everyone wants free money.

who would by nvidia cards to waste his mining power on ETH?

i did say to him there are other coins to mine which is why i bought it, but he was focused on ETH.

[Metroid]

He is brave, well if he holds the coins he mines at a loss and then pumpers pump eth and he sells at 100% more hehe, he will pay off his electricity but is a gamble, right now he is playing a 100% game and he owns only 30%. I would not play a game which I have only 30% chance to win, trading buying and selling coins gives you 50% chance.

[Vann]

Newegg and other retailers like Microcenter in the US have jacked up their GPU prices by 40% e.g. this Powercolor Red Dragon RX 570 4GB that I bought for $190 is now listed by Newegg for $270.

https://www.newegg.com/Product/Product.aspx?Item=N82E16814131717&ignorebbr=1

This will curb purchases for reselling, but just like the last GPU run-up in 2014, don't expect prices to come down anytime soon. Especially since GPU mining is more profitable now that it has been historically, including 6 months ago.

Everybody is doing that, blame chinese manufactures, dont think amd is getting a dime on these deals. Boycott is what all of you should do, if you dont then they will keep doing it till you trolls learn the hard way.

Stating facts is not trolling. The ETH difficulty rise has more to do with the ICE AGE that was PROGRAMMED to increase the difficulty exponentially as the the switch to POS grew closer. Now that the date to POS has been pushed forward, there is a debate what they should do to address it as it is affecting the network transactions. The ETH Dev meeting tomorrow should address that.

The market is retracting in preparation for the BTC BIP 148 UASF, SegWit2X, SegWit controversy, which is dragging all other coins with it. Now is not the time to be buying or selling coins until that has been straightened out. If you already have a rig, now is EXACTLY the time you should be accumulating coins with little risk until the market recovers.

https://www.deepdotweb.com/2017/07/12/bitcoin-price-analysis-12-july-2017

[antantti]

Sorry guys, it looks like it is time...

[Thetaj]

Capitalism at its finest.  You gotta pay to play, aint no free money in this world.

[iamnewhere]

He is brave, well if he holds the coins he mines at a loss and then pumpers pump eth and he sells at 100% more hehe, he will pay off his electricity but is a gamble, right now he is playing a 100% game and he owns only 30%. I would not play a game which I have only 30% chance to win, trading buying and selling coins gives you 50% chance.

with the price of ETH it's more efficient to mine other coins with nvidia and then buy ETH - brings more profit in the end and you can get ~ twice ETH than you would do with mining

[Metroid]

I have bought and been buying thousands of ETH for the last 3 days. It's too difficulty for miners to mine eth, few coins with lots of hardware, I said before and I will say again, I'm aiming at 300% profit in the next 3 months or so with eth trading, buying low now and will sell around 0.4 btc or so. I have a feeling many btc owners will exchange their btc for eth  and eth will fly to around 0.9 btc per eth.

[iamnewhere]

I have bought and been buying thousands of ETH for the last 3 days. It's too difficulty for miners to mine eth, few coins with lots of hardware, I said before and I will say again, I'm aiming at 300% profit in the next 3 months or so with eth trading, buying low now and will sell around 0.4 btc or so. I have a feeling many btc owners will exchange their btc for eth  and eth will fly to around 0.9 btc per eth.

just got ETH for 0.0838 exchange rate - i think not the worst way making some ETH

[adaseb]

The only people who are hurting are the ones who bought the GTX 1070/1080/1080ti. Most people who bought AMD probably came out ahead, even if they bought the GPUs late. As long as you paid MSRP for the AMD GPUs you should be fine.

However those you bought the 1080Ti for $700, with a current daily profit of $3/day you really should just return those GPUs back to the retailer for a refund.

[fk1]

He is brave, well if he holds the coins he mines at a loss and then pumpers pump eth and he sells at 100% more hehe, he will pay off his electricity but is a gamble, right now he is playing a 100% game and he owns only 30%. I would not play a game which I have only 30% chance to win, trading buying and selling coins gives you 50% chance.

with the price of ETH it's more efficient to mine other coins with nvidia and then buy ETH - brings more profit in the end and you can get ~ twice ETH than you would do with mining

name the altcoin pls

[iamnewhere]

He is brave, well if he holds the coins he mines at a loss and then pumpers pump eth and he sells at 100% more hehe, he will pay off his electricity but is a gamble, right now he is playing a 100% game and he owns only 30%. I would not play a game which I have only 30% chance to win, trading buying and selling coins gives you 50% chance.

with the price of ETH it's more efficient to mine other coins with nvidia and then buy ETH - brings more profit in the end and you can get ~ twice ETH than you would do with mining

name the altcoin pls

search for it
it's usually every 24h another one - yesterday i made e.g. with DAXX $ 7.5 per 1070 (mining 24h before diff exploded and selling at it's peak) - with ETH mining i would have made maybe $ 2.5 that 24h....

[Streetlight9]

Its starting....

(only a month old) and buying over priced GPU from the start dont help...


http://www.ebay.co.uk/itm/Nvidia-Mining-Rig-7x-GTX-1070-1x-1060-235mhs-ethash-850watts-/322591229033?hash=item4b1bef8469:g:ItMAAOSwyWZZXg-v


Cant wait for cheap Gpu's...

[antantti]

I have bought and been buying thousands of ETH for the last 3 days.

Ouch, I really hope you will make it.

My prediction is that mining profits are down another 40% in 96 hours, would be very happy to be wrong though.