Is your local Craigslist / Kijiji flooded with GPUs ?

[ricardobayes]

I don’t get why 10 months of roi is considered bad. No other investment yields this much at the moment. A $5000 rig produces as much monthly profit as letting a condo in my city.
So yeah, sure it’s bad...

[ManicMiner23]

10 month roit is nor a problem, if is 10 month at the end, most investors will be more than happy to find investments with 10 or 12 months roi, the only problem is that 2 monts ago it was 5 month roi, some weeks ago went to10 month, and if the markets continue going down will be 24 or more months, and maybe after 12-18 months is it not clear if the current generation of gpus will be producing any profit and the resell value that gpus will have.

[maxmeme]

Current coins price will not get you 10 months ROI. It takes more than that to make ROI unless the price of the coins pumped up again.

[Piskeante]

in Spain i only have Ebay as reasonable second hand market, and i'm begining to see a big amount of RX 570 & 580 at msrp prices. Considering prices for new gpu's are like 50% ahead of msrp value, well....it's not great but not bad

[gotminer]

Current coins price will not get you 10 months ROI. It takes more than that to make ROI unless the price of the coins pumped up again.

Who cares?  Hold for years and sell at the correct time.  You'll either be very happy or you'll lose all of your money.  Easy.

[QuintLeo]

in Spain i only have Ebay as reasonable second hand market, and i'm begining to see a big amount of RX 570 & 580 at msrp prices. Considering prices for new gpu's are like 50% ahead of msrp value, well....it's not great but not bad

You're seeing RX 570 at the Spanish currency equivalent of under $200 for new cards?
Used cards should be selling for a lot less to be under MSRP.

[FrontierObscura]

get what you can, market is about to re-bound

[badfad]

Saw an add at local craiglist for a 2 month old rig for with 11 580s for ~ 2.2K USD.
It's gone now...

[IamRune]

I picked up 16 1070s on local craigslist for $250 each.

[Bimmber]

market is about to re-bound

You did very well on this one    Can you try to tell us what will happen in 3 months time? 

[Raimy]

There is a persistent Craigslist ad near me that lists a EVGA GTX108TI for $600. It lacks much detail and there are several posts using the same pictures so I think it is a scam.

Most of the other GPU ads are still asking more for used cards than they sell for retail, for example used GTX1060 6 GB for $550, lol.

[IndzheborgC]

For the correct calculation of the economic efficiency of the invested funds, it is necessary to take into account the residual cost of the video cards, or, better, the whole of the farms.

For example, in the summer of 2017, after buying parts abroad, after assembly and adjustment, I could sell the farm as a whole 1.8 times more expensive.

[bill121]

Gpus are still massively overpriced in the UK too, not much 2nd hand gpus anywhere except ebay. Most are still about 50% higher than they should be. 2nd hand vegas are selling for £700.

[DevelopmentBank]

I don’t get why 10 months of roi is considered bad. No other investment yields this much at the moment. A $5000 rig produces as much monthly profit as letting a condo in my city.
So yeah, sure it’s bad...

This is probably because people bought mining hardware with the expectation of a 3-month ROI which was the case just a few months ago (December 2017). Aside from that, theres probably the factor that mining profit is going down daily and may possible reach a point where profit is 0. Easily understandable why that is what people are afraid of, it's bad...

[fr4nkthetank]

Mining is very risky, and compared to just buying coins when they are low, probably not as profitable.  Its a really, really, really good investment if you know what you are doing and will stay informed and interested over years and keep at it.  just dont think its easy.

[Mike011]

Mining is very risky, and compared to just buying coins when they are low, probably not as profitable. 

Utter nonsense. Do you know for sure when (or at all) those coins "bought when they are low" go up? If you do, then you should be a millionaire by now and would not be wasting time on this forum. Buying coins and praying for them to go up is a 50/50 chance. Pure gambling.

[Vann]

Mining is very risky, and compared to just buying coins when they are low, probably not as profitable.  Its a really, really, really good investment if you know what you are doing and will stay informed and interested over years and keep at it.  just dont think its easy.

Since nobody can tell you what the bottom is for a coin, mining is less risky than buying coins, which IMO is why many people choose to mine. Mining allows you to accumulate coins at a lower price than buying them directly. You have more room to sell at a profit, even in a market downturn. With a mining rig you can also spread your risk by diversifying in different coins without having to risk more capital. You also have an asset than can be liquidated to recoup much of your initial capital.

In a bull market when coin prices are on an uptrend and mining difficulty is increasing, you can accumulate more coins for the same amount invested by purchasing coins directly, but since you only make money if the price when you sell is higher than what you paid, there is more risk.

Take for example ETH. At the current dificulty, a six card RX 570 rig can mine ~0.4 ETH a month at a recurring cost of ~$70. That's equivalent to buying ETH at $175. ETH would have to collapse in price by 67% from today for you to sell at a loss.

http://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=175&p=780&fee=3&cost=0.12&hcost=0.0&commit=Calculate

[adaseb]

I am finally starting to see some deals.

Some GPUs are below MSRP even.

Especially the 1060 and 1080.

It's funny how someone is selling 5 video cards and says "never mined with"

[Metroid]

It's funny how someone is selling 5 video cards and says "never mined with"

I guess they want to advertise their gpus have not been tortured hehe

[QuintLeo]

Mining is very risky, and compared to just buying coins when they are low, probably not as profitable.  Its a really, really, really good investment if you know what you are doing and will stay informed and interested over years and keep at it.  just dont think its easy.

Investing is a lot more risky - someone that bought into Bitcoin (or pretty much any cryptocoin) in January has already lost well over half of their investment, while a MINER has generally been making money over that timeframe if they don't have crazy-high power rates and use fairly recent equipment.

The "up" side of investment can be a lot higher - but the "down" side is also a LOT lower - compared to mining.


I'm still not seeing ANYTHING on current cards locally for less than MSRP, and the few listings I AM seeing are still at a premium.
Downside of being in a "super cheap" electric rate area - folks around here are NOT turning off their rigs yet.