The great tsnuami of selling used GPU's..When will it commence

[Aureliusy]

Been mining and (holding) some zcoin and in the hope the rates would improve. Now sold at a considerable  "loss"...well compared to < last week..
I still can make a profit from selling GPU hardware  Already sold several gpu's (1060 6GB) ...Wonder when the gpu gates wil open and the price of gpu's will decline as rapidly as the current coins.

 

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[Vann]

Miners have no control over the market retraction due to the BTC Bip 148 controversy. They do have control over if they sell their hardware INVESTMENTS and at what price it makes sense for them to sell. If the market doesn't recover from the Bip 148 controversy, within then next few months I would expect to see GPU availability return and therefore used card prices would stabilize to less than what new cards could be bought for, instead of the premium they are selling for now due to the shortage. Retailers have raised prices 40% over the last month for the most popular mining cards due to the shortage and as we learned during the last gpu run-up, prices will be slow to come back down.

[whitrzac]

Probably tomorrow if the price keeps dropping.


I have a bet with a friend that rx580s will be <$100 by 9/1/17.

[Raziel__]

Miners have no control over the market retraction due to the BTC Bip 148 controversy. They do have control over if they sell their hardware INVESTMENTS and at what price it makes sense for them to sell. If the market doesn't recover from the Bip 148 controversy, within then next few months I would expect to see GPU availability return and therefore used card prices would stabilize to less than what new cards could be bought for, instead of the premium they are selling for now due to the shortage. Retailers have raised prices 40% over the last month for the most popular mining cards due to the shortage and as we learned during the last gpu run-up, prices will be slow to come back down.

Probably tomorrow if the price keeps dropping.


I have a bet with a friend that rx580s will be <$100 by 9/1/17.

To the earliest post i dont think that btc upgrade (or possible split) is causing the whole market to collapse, IMO that doesn't make sense, because other coins should rise for safer bet, i think that whole crptosphere was in big bubble that just burst.

And I agree there will be so many used rx500/rx400  by that time, that price could get to 50$

[spiz0r]

I am also waiting for the gpu flood. A lot of noob will sell the cards after they realize they won't be rich in 2 months!
I am planning to buy a lot of 1070/1060 but I won't buy any AMD from the RX series.

RX4xx and RX5xx will worth almost nothing in 6 months, so the best what you can do if you have one to sell it and buy an NVIDIA.

[leowonderful]

Once Ethereum goes sub-100 we'll see it all pour out. Surprisingly people are still buying 470s for $300 on sites like eBay. I do not see anything reasonable or near MSRP where I live on Craigslist and sites like that but I guess it'll take some time. Funny how much other cryptocurrencies count on Bitcoin for price stability, all alts are in the red with the recent plunge with BTC.

[Vann]

Miners have no control over the market retraction due to the BTC Bip 148 controversy. They do have control over if they sell their hardware INVESTMENTS and at what price it makes sense for them to sell. If the market doesn't recover from the Bip 148 controversy, within then next few months I would expect to see GPU availability return and therefore used card prices would stabilize to less than what new cards could be bought for, instead of the premium they are selling for now due to the shortage. Retailers have raised prices 40% over the last month for the most popular mining cards due to the shortage and as we learned during the last gpu run-up, prices will be slow to come back down.

Probably tomorrow if the price keeps dropping.


I have a bet with a friend that rx580s will be <$100 by 9/1/17.

To the earliest post i dont think that btc upgrade (or possible split) is causing the whole market to collapse, IMO that doesn't make sense, because other coins should rise for safer bet, i think that whole crptosphere was in big bubble that just burst.

And I agree there will be so many used rx500/rx400  by that time, that price could get to 50$

Anybody that been mining for more than three months knows that Alt coin prices are closely tied to BTC. Crypto investments are about investor confidence and if BTC as the market leader has a loss in investor confidence, that is going to drag all other coins with it, which is what is happening now. Altcoins are also traded in BTC, so that has a direct impact on their price. The other part is the parabaolic move in most altcoins over the last months, which has no real basis other than the move in BTC, so a retraction is completely normal and expected.

[Ambros]

Probably tomorrow if the price keeps dropping.


I have a bet with a friend that rx580s will be <$100 by 9/1/17.

I'll bet against you, but I agree that those prices will drop at least to stock prices, around 200$. As they were before spring 2017

[ahmedjamal1998]

I'm waiting for that too! I'm 100% sure that a lot of people who thought that this is an easy route to get rich in a short time and bought mining rigs are going to sell in no time.

Just give them a week or two. You'll see cards everywhere.
Idk at that time if I should buy nvidia or amd but let's just wait and watch. 

[Marvell1]

youre forgetting that these new commers paid abig premium for thier hardware, they might sell at some loss
but not a huge loss, remeber they have to pay back thier loans etc

you might get a 20 to 30 percent discount, bit youre also competing with gamers,  and to be honest if somone keeps their gear and mines for six months when eth hashrate drops by 30 percent on the rx cards will be paid off by them
so it actually makes more sense to keep them put the towards another algo.

1070 are beasts at mining tons of algos so i dont see prices on those dropping below 400

what do i know though

[Metroid]

Most noobs will stop mining this week if they have sense if not then they will keep mining and think their card still doing $5.80 per day hehe, their mining experience was terrible, they started thinking they would be rich and they will end with remorse, disappointment and huge debts.

Worldwide, a 29 mh/s gives you at moment only $0.40 per day on eth.

[Raziel__]

We will see, i think that its not going to be smart to buy those used cards, because eth is moving to pos after that everyone will move to only two coins that are large enough (have above 100k cards) ETC, ZEC, others arent so "important" (they have so small network). Thats the time that is going to be even worse scenario than now.

[Cereberus]

The tsunami of selling GPU's will start not before the coming of new cards in the market, especially the AMD RX VEGA cards which are projected to hit the market right just after the August 1. I don't know if that is a good time or a bad one but if the new cards are not available in the market no one will sell their cards, 29 Mhsh on Ethereum still makes you 0.0007 btc daily so 6 of them makes you still 0.0042 btc daily and for miners like me that is a good amount to have daily. I don't care that the price is going down, I am sure it will recover so as long as I am collecting new amount of bitcoin everyday no matter how low amount I am happy.

[xxcsu]

Most noobs will stop mining this week if they have sense if not then they will keep mining and think their card still doing $5.80 per day hehe, their mining experience was terrible, they started thinking they would be rich and they will end with remorse, disappointment and huge debts.

Worldwide, a 29 mh/s gives you at moment only $0.40 per day on eth.

as of today 7-16-2017 @ 5.14PM (GMT+1) , 29MH/s on ETH generating around 1.60USD / day not 0.40$

[Metroid]

Can you run the gpu alone? I guess not, so you need to put all components together and them cost worldwide around $800, so if one gpu then $800 + 250 = 1050 here you go, now take the $1050 and divide by $0.63, 1050 days to roi, https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=29.0&p=180.0&fee=2.0&cost=0.2&hcost=250.0&commit=Calculate if you did not understand what i said then use this link https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=29.0&p=180.0&fee=2.0&cost=0.2&hcost=250.0&commit=suicide

[Marvell1]

The tsunami of selling GPU's will start not before the coming of new cards in the market, especially the AMD RX VEGA cards which are projected to hit the market right just after the August 1. I don't know if that is a good time or a bad one but if the new cards are not available in the market no one will sell their cards, 29 Mhsh on Ethereum still makes you 0.0007 btc daily so 6 of them makes you still 0.0042 btc daily and for miners like me that is a good amount to have daily. I don't care that the price is going down, I am sure it will recover so as long as I am collecting new amount of bitcoin everyday no matter how low amount I am happy.

bingo this guy gets it , it will take at least six more months of continually decreasing profits for this huge fire sale you are waiting for.  And vega might be fast but the results shows it uses way too much power compared even to polaris
with thinning margins power cost is important so polaris might still be beter

[xxcsu]

Worldwide, a 29 mh/s gives you at moment only $0.40 per day on eth.

Can you run the gpu alone? I guess not, so you need to put all components together and them cost worldwide around $800, so if one gpu then $800 + 250 = 1050

You was not talking about the whole computer , you said 29MH/s give you 0.40$ / day .... this is totally wrong !!!

If you mining with one card , you dont have to spend 800$ for a pc , just get a few years old pc from craigslist , ebay , local pawn shop and you good to go ... Just slide that one card into the right slot and you ready to mining you might need to replace the psu ...

If you building a new pc from 800$ just for mining with 1 card   , that is your own problem  

[Metroid]

If you building a new pc from 800$ just for mining with 1 card.

I see prices and roi worldwide and that is what caused gpu's to disappear, worldwide!!

[Za1n]

I think everyone is waiting to see what happens to BTC first. So depending on how the next few weeks pan out will depend on when or if GPUs start flooding the market. Right now everyone is waiting until after August 1st to make any decisions. If the price of cryptos start to climb again, I believe new miners will hang on to their cards. people who have ROI'd already have no immediate need to liquidate and have a bit of room yet to eek out some profits.

As others have already pointed out, mining is still profitable, just not as crazy profitable as before, but profit is still profit. If I invest $0.30 per card a day in electricity and get back $2.00 ($1.70 in profit) there really is no reason to panic sell quite yet, especially with all the hope out there that this downturn will soon correct. Not until profits dip under costs does this really become a concern. Eth price would need to go under and stay below $100 for some time for profits to start to really get tight.

Even if some people do decide to start selling their GPUs early on, I see two big factors keeping the prices up for a little while longer. One is a lot of people here have already expressed desire to start buying up these GPUs at slight discounts, probably also anticipating a return to mad profits once things blow over. Another factor is that a lot of Gamers worldwide are pissed off of miners buying up all the stock and waiting on prices to come down to normal levels so they can get the GPU upgrade they been waiting on but refuse to pay a premium. Once cards start to return to somewhat reasonable prices this pent up demand will need to be filled and will absorb a lot of the early sell off.

So I think we will need to ride out a period of at least a month or two of very low to negative profitability to start shaking out weak GPU hands and see any type of GPU tsunami.

[grape_tectonics]

Its already commencing. In the local craigslist equivalent, last week I saw 580's moving for 350-400ish, today they are asking for 300 and nobody is buying. This christmas is going to be like an oprah show "You get an rx480! You get an rx480! EVERYBODY GETS AN RX480!!"

[Marvell1]

I think everyone is waiting to see what happens to BTC first. So depending on how the next few weeks pan out will depend on when or if GPUs start flooding the market. Right now everyone is waiting until after August 1st to make any decisions. If the price of cryptos start to climb again, I believe new miners will hang on to their cards. people who have ROI'd already have no immediate need to liquidate and have a bit of room yet to eek out some profits.

As others have already pointed out, mining is still profitable, just not as crazy profitable as before, but profit is still profit. If I invest $0.30 per card a day in electricity and get back $2.00 ($1.70 in profit) there really is no reason to panic sell quite yet, especially with all the hope out there that this downturn will soon correct. Not until profits dip under costs does this really become a concern. Eth price would need to go under and stay below $100 for some time for profits to start to really get tight.

Even if some people do decide to start selling their GPUs early on, I see two big factors keeping the prices up for a little while longer. One is a lot of people here have already expressed desire to start buying up these GPUs at slight discounts, probably also anticipating a return to mad profits once things blow over. Another factor is that a lot of Gamers worldwide are pissed off of miners buying up all the stock and waiting on prices to come down to normal levels so they can get the GPU upgrade they been waiting on but refuse to pay a premium. Once cards start to return to somewhat reasonable prices this pent up demand will need to be filled and will absorb a lot of the early sell off.

So I think we will need to ride out a period of at least a month or two of very low to negative profitability to start shaking out weak GPU hands and see any type of GPU tsunami.

i fully agree , and the fact that we have this large price drop , will deter a few new miners which only extends the period of low profits by slowing the diff

[Metroid]

I see dead people hehe

[Aura]

It's already happening, people that did a RX 580 pre-order and received it while the huge drop are now selling them for around 280 Euros.
That's almost the retail price when popularity wasn't that high.
I expect a lot more comming days.

[eckmar]

I am also waiting for the gpu flood. A lot of noob will sell the cards after they realize they won't be rich in 2 months!
I am planning to buy a lot of 1070/1060 but I won't buy any AMD from the RX series.

RX4xx and RX5xx will worth almost nothing in 6 months, so the best what you can do if you have one to sell it and buy an NVIDIA.

Bullshit. AMD will always offer better solution for mining due to price. And even right now I would still say that mining is profitable as you would hit ROI in line 10-12 months which is fine if you give it a little bit of thought. Where else can you invest and expect ROI in a year ? Can't wait for newbies to start selling their cards so i can buy them

[Kompik]

I am also waiting for the gpu flood. A lot of noob will sell the cards after they realize they won't be rich in 2 months!
I am planning to buy a lot of 1070/1060 but I won't buy any AMD from the RX series.

RX4xx and RX5xx will worth almost nothing in 6 months, so the best what you can do if you have one to sell it and buy an NVIDIA.

Bullshit. AMD will always offer better solution for mining due to price. And even right now I would still say that mining is profitable as you would hit ROI in line 10-12 months which is fine if you give it a little bit of thought. Where else can you invest and expect ROI in a year ? Can't wait for newbies to start selling their cards so i can buy them

And what will you mine after thereum goes POS and DAG file will be even bigger -> will make rx cards obsolete?

[pdpanzer]

I think everyone is waiting to see what happens to BTC first. So depending on how the next few weeks pan out will depend on when or if GPUs start flooding the market. Right now everyone is waiting until after August 1st to make any decisions. If the price of cryptos start to climb again, I believe new miners will hang on to their cards. people who have ROI'd already have no immediate need to liquidate and have a bit of room yet to eek out some profits.

As others have already pointed out, mining is still profitable, just not as crazy profitable as before, but profit is still profit. If I invest $0.30 per card a day in electricity and get back $2.00 ($1.70 in profit) there really is no reason to panic sell quite yet, especially with all the hope out there that this downturn will soon correct. Not until profits dip under costs does this really become a concern. Eth price would need to go under and stay below $100 for some time for profits to start to really get tight.

Even if some people do decide to start selling their GPUs early on, I see two big factors keeping the prices up for a little while longer. One is a lot of people here have already expressed desire to start buying up these GPUs at slight discounts, probably also anticipating a return to mad profits once things blow over. Another factor is that a lot of Gamers worldwide are pissed off of miners buying up all the stock and waiting on prices to come down to normal levels so they can get the GPU upgrade they been waiting on but refuse to pay a premium. Once cards start to return to somewhat reasonable prices this pent up demand will need to be filled and will absorb a lot of the early sell off.

So I think we will need to ride out a period of at least a month or two of very low to negative profitability to start shaking out weak GPU hands and see any type of GPU tsunami.

If ETH goes to $120 you'll see a massive selling of hashing capacity. Only ASIC could make mining a good business again, or a coin successful enough to require sudden hashing capacity that sees gpu PoW as now very affordable. Also, if any company comes with an innovation in gpu processing per watt that is big, the price of older cpu will be destroyed, and you'll only be able to sell to the extent some with free energy can assess the hassle of low profit is enough to compensate their effort.

One other option is that AI farms will figure out a way to use distributed AI training. This isn't right now because there's also a lot of impact for latency and a high bandwidth requirement. But it's the only thing that could save the gpu farm holders.

[adaseb]

I am also waiting for the gpu flood. A lot of noob will sell the cards after they realize they won't be rich in 2 months!
I am planning to buy a lot of 1070/1060 but I won't buy any AMD from the RX series.

RX4xx and RX5xx will worth almost nothing in 6 months, so the best what you can do if you have one to sell it and buy an NVIDIA.

Bullshit. AMD will always offer better solution for mining due to price. And even right now I would still say that mining is profitable as you would hit ROI in line 10-12 months which is fine if you give it a little bit of thought. Where else can you invest and expect ROI in a year ? Can't wait for newbies to start selling their cards so i can buy them

And what will you mine after thereum goes POS and DAG file will be even bigger -> will make rx cards obsolete?

When ETH goes POS the DAG file Epoch won't matter because you won't be able to mine it anyways. Even with NVIDIA cards.

[Liquid71]

Been mining and (holding) some zcoin and in the hope the rates would improve. Now sold at a considerable  "loss"...well compared to < last week..
I still can make a profit from selling GPU hardware  Already sold several gpu's (1060 6GB) ...Wonder when the gpu gates wil open and the price of gpu's will decline as rapidly as the current coins.

 

Guessing you've been mining six months or less? Kinda silly to sell when still profitable but hey some people thought mining was gonna be easy money forever and shouldn't have gotten involved, others grind it out. we aren't even in a bear market yet, could be the begining of one but the card you're selling still profitable mining..profits drop and you dump your gear lol that's some funny shit.

[Liquid71]

I am also waiting for the gpu flood. A lot of noob will sell the cards after they realize they won't be rich in 2 months!
I am planning to buy a lot of 1070/1060 but I won't buy any AMD from the RX series.

RX4xx and RX5xx will worth almost nothing in 6 months, so the best what you can do if you have one to sell it and buy an NVIDIA.

Bullshit. AMD will always offer better solution for mining due to price. And even right now I would still say that mining is profitable as you would hit ROI in line 10-12 months which is fine if you give it a little bit of thought. Where else can you invest and expect ROI in a year ? Can't wait for newbies to start selling their cards so i can buy them

And what will you mine after thereum goes POS and DAG file will be even bigger -> will make rx cards obsolete?

When ETH goes POS the DAG file Epoch won't matter because you won't be able to mine it anyways. Even with NVIDIA cards.

ETH will probably split in two again on fork to PoS, but either way other coins come out like Mimble wimble not sure I spelled that right but should be a great coin for GPU miners and I'm sure others will emerge. Same thing happened when Litecoin went to ASIC mining only, tons of GPU sold dirt cheap but those that stuck it out profited from new coins being released, at that point it was multiple coins daily and a shit show but if you wanted to mine you could turn a profit. Not get rich quick but GPU mining never died. Bitcoin went ASIC we got Litecoin, Litecoin went ASIC we got a bunch of shitcoins and now recently some profitable coins like ETH and ZEC and there will be others after that.

[VoskCoin]

I'm curious as well, rx card prices have dropped but nvidia cards still very high

[Smuft]

prices still ridiculous in canadian market, will take >1 year to get ROI at this rate and ETH difficulty is still going up

[CarlOrff]

Been mining and (holding) some zcoin and in the hope the rates would improve. Now sold at a considerable  "loss"...well compared to < last week..
I still can make a profit from selling GPU hardware  Already sold several gpu's (1060 6GB) ...Wonder when the gpu gates wil open and the price of gpu's will decline as rapidly as the current coins.

Never.

But if you sold your GPUs it's a very good thing for us : some will be interested and all will thenk you because difficulty will be lower and our revenues better :-).

[Naughtid]

Most noobs will stop mining this week if they have sense if not then they will keep mining and think their card still doing $5.80 per day hehe, their mining experience was terrible, they started thinking they would be rich and they will end with remorse, disappointment and huge debts.

Worldwide, a 29 mh/s gives you at moment only $0.40 per day on eth.

That is right. If the electricity price is low, not much profit left.