Ethereum Miners Are Selling Their Graphics Cards

[rdluffy]

I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future

That would be mining mistake #1.

Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining.  If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.

There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.

Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).

I know, I know, I know, you don't have to explain to me =)

But there are a lot of people who like mining
And there is some people who prefer to generate the coins mining, because if something goes wrong, at least they have a gpu

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[Jody2k]

I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future

That would be mining mistake #1.

Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining.  If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.

There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.

Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).

OR just stop mining and keep gpu for gaming again and when a new shitcoin comes up you can fastmine it for 2days haha

[Bankincoins]

I sold my graphics cards.  Then I patiently bought new ones retail for about what I sold the old mining gear for.  It's presented a good opportunity to change out GPUs.  Right now selling 470/570/480/580 and buying 1070s with the proceeds seems like a good investment if you can sell the AMD for close to what the 1070s cost new.  The 1070s will keep their hashrate for Eth longer and should have way better resale value.

[Fatunad]

I sold my graphics cards.  Then I patiently bought new ones retail for about what I sold the old mining gear for.  It's presented a good opportunity to change out GPUs.  Right now selling 470/570/480/580 and buying 1070s with the proceeds seems like a good investment if you can sell the AMD for close to what the 1070s cost new.  The 1070s will keep their hashrate for Eth longer and should have way better resale value.

Im doing the same thing on which i do sell off my rigs not mean on quitting on mining but to have plans on renewing or buying another rigs which is more powerful on my older ones and do really give me a good resale value after all. I do this for quiet time as of now which i can say it actually works as long you do know on what you are doing. I dont totally believe on those fuds specially when i saw large numbers of people do sell of their mining gpus.

[ccccccc7]

They're not selling for low enough... not yet. As profitability continues to drop, they should panic and start dumping at any price. I can't wait!

this. I can't agree more, difficulty will continue rising and profitability will continue to slip then people who bought on credit cards or took out loans will shit themselves then start to dump GPUs to clear the initial principle.

I cannot wait until people start to dump, I have been itching to buy more GPU for ages but have to keep stopping myself at these prices and knowing(believing) what will come.

[dadesu]

I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future

That would be mining mistake #1.

Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining.  If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.

There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.

Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).

Nah, not so good advice, long time in mining and learn from expiriance.
If you sell cards you will lost chance to grab fresh new coins who can emerge every day. Almost all coins first show on mining and later on markets.
If you have lots of cards you can get lots of coins when diff is very low. And chance to lost is minimal, and if you wait for some time you can earn a lot.
But you cant buy every new coin, its much easier to mine them. And even if daily profit now look very low its not if you are living in country with cheap
electricity

[bearsworth]

You guys are right the party is over. Please sell me your cheap gpus now. Please sell the gtx 1070 if possible.

[BennyT]

Read the title of the thread and though wow better sell my cards!!!!

Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?

[philipma1957]

Read the title of the thread and though wow better sell my cards!!!!

Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?

I  would sell all my 1070's to you  except I did  at 450  when I paid 369.  And they are now selling at

479 and  600 on ebay.

http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-VR-Ready-ITX-Graphics-Card-/162597855122?

http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-ITX-Graphics-Card-/292186270712?


So even though I turned  80 profit on each card plus 100 mining.  I could have held them  for 3 more weeks of mining  and then sold them.

Still I can not knock  turning   369 into  549  on each card I sold.

The people that opened thread may become correct one day  but not yet.

The thread is 6 days old.  maybe in the winter  it will be true.  Lets say Jan 27 , 2018 when I turn 61

[BennyT]

Read the title of the thread and though wow better sell my cards!!!!

Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?

I  would sell all my 1070's to you  except I did  at 450  when I paid 369.  And they are now selling at

479 and  600 on ebay.

http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-VR-Ready-ITX-Graphics-Card-/162597855122?

http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-ITX-Graphics-Card-/292186270712?


So even though I turned  80 profit on each card plus 100 mining.  I could have held them  for 3 more weeks of mining  and then sold them.

Still I can not knock  turning   369 into  549  on each card I sold.

The people that opened thread may become correct one day  but not yet.

The thread is 6 days old.  maybe in the winter  it will be true.  Lets say Jan 27 , 2018 when I turn 61

Well I agree with you about selling at the right time. Although now is a great time to sell. I think  the days of shortages are over so prices should start coming down on the open market. I'm finding it easy to buy anything new and there even some pretty good sales.

[Za1n]

I agree that now is the time to sell your cards if you can as you can probably buy them back in a month or two for less (kinda like shorting your GPUs), but I would caution on the avenue you choose to use.

If using Ebay, keep in mind they have a very forgiving policy that allow buyers to make some bogus "not as described" claim even weeks after the fact and get a full refund.

So imagine this scenario, you are an Ebay buyer of not so strong morals and buy up a few of these overpriced used cards. In a few weeks when the true panic selling starts, and they can buy a brand new card at their local store for less than they did your used card, what do you think is going to be happening in mass. Most of these buyers are using new throwaway accounts as well, so they could give a rip about any repercussions, which rarely happen anyway. I can tell you they are not just going to be stuck with that used junker when they can go buy a brand new shiny for less.

[Matkurb]

I agree that now is the time to sell your cards if you can as you can probably buy them back in a month or two for less (kinda like shorting your GPUs), but I would caution on the avenue you choose to use.

If using Ebay, keep in mind they have a very forgiving policy that allow buyers to make some bogus "not as described" claim even weeks after the fact and get a full refund.

So imagine this scenario, you are an Ebay buyer of not so strong morals and buy up a few of these overpriced used cards. In a few weeks when the true panic selling starts, and they can buy a brand new card at their local store for less than they did your used card, what do you think is going to be happening in mass. Most of these buyers are using new throwaway accounts as well, so they could give a rip about any repercussions, which rarely happen anyway. I can tell you they are not just going to be stuck with that used junker when they can go buy a brand new shiny for less.

If you are still profitable, it is better not to sell, if the fee involved is 20% or more.

[P00P135]

Read the title of the thread and though wow better sell my cards!!!!

Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?

I  would sell all my 1070's to you  except I did  at 450  when I paid 369.  And they are now selling at

479 and  600 on ebay.

http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-VR-Ready-ITX-Graphics-Card-/162597855122?

http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-ITX-Graphics-Card-/292186270712?


So even though I turned  80 profit on each card plus 100 mining.  I could have held them  for 3 more weeks of mining  and then sold them.

Still I can not knock  turning   369 into  549  on each card I sold.

The people that opened thread may become correct one day  but not yet.

The thread is 6 days old.  maybe in the winter  it will be true.  Lets say Jan 27 , 2018 when I turn 61

They are not "Selling at 479 and 600 on ebay."  They are trying to be sold at those prices but are NOT actually selling.  There is a big difference.  Go look at sold listings instead.

[Bankincoins]

Bump. 

Look how stupid this thread looks in hindsight.

Crypto is full of suprises