Graphics cards are flooding the market

[philipma1957]

As the market was starting to show some life in summer and fall 2020. I grabbed some nice msi 5600 xt gaming at 230 each.

so 230 usd for 38mh at 95 watts at the wall.

everyone works as i type and i can sell them used for 400 on ebay.

https://www.ebay.com/itm/325089409290?

he wants 459 so 399 is good.
maybe 379.

so how is the market flooded or dead.

nothing to see here mine on.

oh 4000 series will all be lhr (you heard it here first)

and eth will not go to pos unless eth drops under 1k

they will do pos to ‘save the market’


far better than doing pos  at 3000 a coin and watching it drop to 900

than pos crashed everything.

[1714279105]

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[Coinfarm ventures]

nothing to see here mine on.

[adaseb]

Honestly there are a few reasons.

First one is that since ETH POS is more or less confirmed sometime later this year… many just find it too risky due to the long ROI period.

Second is that there are new gen video cards being released soon so people are waiting for those.

Third is inflation and recession risk. People are saving their money for the worst to come due to the way the economy is going.

[Coinfarm ventures]

Second is that there are new gen video cards being released soon so people are waiting for those.

Miners who are waiting for next-gen cards will be disappointed. But you're right about the newer cards being very useful to gamers because of the high TFLOPs. So if gamers currently are 60% of the buyers of the market and they're waiting, that would drive prices down.

Third is inflation and recession risk. People are saving their money for the worst to come due to the way the economy is going.

I disagree, because the type of people who are interested in GPU mining tend to be either college kids who spend mommy's money or upper-class technology workers. These folks aren't affected by inflation. If a recession happens, they need to worry about the value of their real estate or stock shares going down more than their mining rigs. Cryptocurrency may be an inflation hedge.

[FP91G]

GPU MRSP RTX 3000 and RX6000
https://bitcointalk.org/index.php?topic=5351711.0
Most miners bought their graphics cards for more than MSRP, so prices in the secondary market can be worse than in stores. In my country, a new video card can be found cheaper than they sell in secondary markets. First, study the prices in stores and discounts.

[thepriceinsats]

It's Over

Graphic card stores are now panicking because many GPUs are flooding the market and they feel at loss because no one is buying them and the old GPUs they have in stores can't be sold at high price like before, I pity them though since they bought them out the country and can't sell, no one is willing to buy right now in my country, it is what it is.

Whilst for me, I'm always happy to grab an upgrade.

I know the sentiment is for the small retailers that will be hit. But there are still many tokens out there that rely on GPU mining like Raven - personally i'm BTC focused, but cheap GPUs might just push the price up of some other alts.

[arielbit]

Second is that there are new gen video cards being released soon so people are waiting for those.

Miners who are waiting for next-gen cards will be disappointed. But you're right about the newer cards being very useful to gamers because of the high TFLOPs. So if gamers currently are 60% of the buyers of the market and they're waiting, that would drive prices down.

"waiting" is one of the most stupid thing you'll hear about mining. (happened with the 3090s and 3080's before the bull run LOL...waiting for the market to go bull and then paid almost double MSRP  , if you can't mine in a non bull market then there is a huge chance you won't last long here)

ROI'd cards is still better than the latest and greatest/biggest and baddest that "will be" released...fast forward to the future--that great card is released then buy it, and you still have the ROI'd cards you bought in the past.(or in worse scenario the cards are still about to get ROI'd, but it is on its way.)

if you can make money now, do it now. it is that simple.

worry about selling/upgrading when heat and space is maxed out, if you are "maxed out" already then you are in the "optimizing stage" of mining, things change a bit..but profit and ROI first above all else.

[philipma1957]

Second is that there are new gen video cards being released soon so people are waiting for those.

Miners who are waiting for next-gen cards will be disappointed. But you're right about the newer cards being very useful to gamers because of the high TFLOPs. So if gamers currently are 60% of the buyers of the market and they're waiting, that would drive prices down.

"waiting" is one of the most stupid thing you'll hear about mining. (happened with the 3090s and 3080's before the bull run LOL...waiting for the market to go bull and then paid almost double MSRP  , if you can't mine in a non bull market then there is a huge chance you won't last long here)

ROI'd cards is still better than the latest and greatest/biggest and baddest that "will be" released...fast forward to the future--that great card is released then buy it, and you still have the ROI'd cards you bought in the past.(or in worse scenario the cards are still about to get ROI'd, but it is on its way.)

if you can make money now, do it now. it is that simple.

worry about selling/upgrading when heat and space is maxed out, if you are "maxed out" already then you are in the "optimizing stage" of mining, things change a bit..but profit and ROI first above all else.

once your cards are paid off just mine. and mine and mine and mine and mine.

[Coinfarm ventures]

once your cards are paid off just mine. and mine and mine and mine and mine.

I don't understand why this is a good idea. If you think the market will crash at a certain time, why not sell the cards right before that, then bet on buying them back later at a much lower price? Even after the inconvenience & fees of selling as well as the missed profit, it could make sense. You would end up with more hashrate for the same price, if your goal is to stack coins at low diff.

When miners bring up the idea of "ROI'd video cards", it sounds like the classic sunk cost fallacy to me.

Let's consider the RTX 3060's that I bought last month for $550 each. As of today, I lost money on that investment because the same card now costs $440, and I only made $50 of mining profit in the meantime. I would be an idiot to tell myself I didn't lose $60 so far.

Back in 2019 I bought GTX 1060 cards for $140 each, then made $400 of profit on each card by April 2021. I "made ROI" many times over on the investment. However, I was worried that ETH price was going to peak, so I sold off the rig for $350 per card in May. I turned out to be wrong. But if I were correct and the value crashed back to $140/card, there's no way I could have made $210 of profit beforehand.

Of course, if one thinks it's impossible to time the market, then I agree that buying/selling cards is a bad idea. But I don't think the GPU market is an efficient market like the stock exchange.

[BitKongy]

Hehe I still buy some new babies  (graphics card) today, I believe that when all hope is lost is the perfect time to take action, I want me some Gigahash, that's a dream and I am sticking to it, Crypto mining is a hubby and that's what keeps me going, I don't care if ETH goes POS or if profitability drop marginal, im never going to shut down my rigs by the power of God invested in me  , keep mining or go home.

[Coinfarm ventures]

Hehe I still buy some new babies  (graphics card) today, I believe that when all hope is lost is the perfect time to take action, I want me some Gigahash, that's a dream and I am sticking to it, Crypto mining is a hubby and that's what keeps me going, I don't care if ETH goes POS or if profitability drop marginal, im never going to shut down my rigs by the power of God invested in me   , keep mining or go home.

I hope you're right, because I just grabbed a few RX 6800's at the incredible price of $570 below MSRP!!. I hope it turns out better than my RTX 3060 or P100 rigs.

[Metroid]

I don't understand why this is a good idea. If you think the market will crash at a certain time, why not sell the cards right before that, then bet on buying them back later at a much lower price?

Too much work and we know is not easy to sell the price you want, negotiations take time for both parties, buy and sell coins is easy, buy and sell gpus is hard as they are physical.

[Coinfarm ventures]

Too much work and we know is not easy to sell the price you want, negotiations take time for both parties, buy and sell coins is easy, buy and sell gpus is hard as they are physical.

I have liquidated a farm with dozens of rigs before. While it's hard, it's not impossible if you're just disconnecting the video cards and leaving the rig alone. There were enough bulk buyers to go around even in late 2018, just at the right price. The average buyer bought 5-10 cards at a time, which made it easier to negotiate.

I absolutely think it was worth the effort to sell a few rigs for $200/card in June 2018 instead of watching them fall to $90/card by next year. That was the only reason I was able to buy a cheap right the next year, collect a bunch of coins and cash out later.

[Metroid]

I have liquidated a farm with dozens of rigs before.

For the vast majority is very hard, so they tend to stay with the gpus and go on till they break or so. If you are able to do that fast and without much work, yes, it is a win. It also depends where you are mining, the demand for gpus and so on, reason 14nm gpus to this date were the best in that window of opportunity, it took a long time for them to be replaced with something better.

[philipma1957]

once your cards are paid off just mine. and mine and mine and mine and mine.

I don't understand why this is a good idea. If you think the market will crash at a certain time, why not sell the cards right before that, then bet on buying them back later at a much lower price? Even after the inconvenience & fees of selling as well as the missed profit, it could make sense. You would end up with more hashrate for the same price, if your goal is to stack coins at low diff.

When miners bring up the idea of "ROI'd video cards", it sounds like the classic sunk cost fallacy to me.

Let's consider the RTX 3060's that I bought last month for $550 each. As of today, I lost money on that investment because the same card now costs $440, and I only made $50 of mining profit in the meantime. I would be an idiot to tell myself I didn't lose $60 so far.

Back in 2019 I bought GTX 1060 cards for $140 each, then made $400 of profit on each card by April 2021. I "made ROI" many times over on the investment. However, I was worried that ETH price was going to peak, so I sold off the rig for $350 per card in May. I turned out to be wrong. But if I were correct and the value crashed back to $140/card, there's no way I could have made $210 of profit beforehand.

Of course, if one thinks it's impossible to time the market, then I agree that buying/selling cards is a bad idea. But I don't think the GPU market is an efficient market like the stock exchange.

If you are debt free and there is a huge crash you can hodl the gear. Wait for it to bounce back.

Back in spring/summer/fall 2020 eth began a rebound.

All the 1000 series cards went back up to msrp by Jan 2021 . I sold 1080ti at 2018 prices of 660-700

As long as you are not overextended in debt mining and mining and mining and mining is better than selling when you think you should sell.

I had 65 1080s sold some but mostly mined them in 2018 2019 2020 even when prices sucked.

in 2019 my 1080tis earned 25 cents a day and i mined them.

In fact I still mine four 1080ti my evga hybrid. they do 140 mh

[Daodex]

Who says that no one is buying graphic cards anymore? I bookmarked some graphic cards online hoping the price will down but checking them out today I realised they are sold out, don't fool yourself thinking that people aren't buying graphic cards, you are not the only one who have come to understand how mining works.

[Coinfarm ventures]

Who says that no one is buying graphic cards anymore? I bookmarked some graphic cards online hoping the price will down but checking them out today I realised they are sold out, don't fool yourself thinking that people aren't buying graphic cards, you are not the only one who have come to understand how mining works.

The data shows that less people are buying RTX 3070's for example:




I see the same pattern for the other cards. But as you can see, the number sold increases within 1-2 days after prices drop. After sales volume is good enough and cards can be sold quickly enough to satisfy sellers, or ETH price rises, sellers start to jack up prices. Buyers then react by purchasing less. The cycle starts over again.

This is why I've been predicting that GPU prices will stay steady for the next 1-2 months.

[philipma1957]

look at this card.

https://www.newegg.com/msi-geforce-rtx-3090-rtx-3090-gaming-x-trio-24g/p/N82E16814137595?Item=N82E16814137595

you can buy up to 20

so buy 16 and use  2 of these cases

https://minerdude.com/product/minerdude-x8ultra-plus/


cost 16 x 1659 = 26544
and 2 x 999 =.      1998

grand total = 28542

16 x 110 hash = 1.76gh

power = 5000 watts

that is  120 kwatts a day = 12 bucks at 10 cent power

1760 x 3.67 cents  = 64.59 a day

so 64-12 = 52 a day net

9464 in 6 months
18928 in 12 months
28392 in 18 months

cards have real 3 year warranties

So buy it and mine it.

or don't

[adaseb]

Second is that there are new gen video cards being released soon so people are waiting for those.

Miners who are waiting for next-gen cards will be disappointed. But you're right about the newer cards being very useful to gamers because of the high TFLOPs. So if gamers currently are 60% of the buyers of the market and they're waiting, that would drive prices down.

Third is inflation and recession risk. People are saving their money for the worst to come due to the way the economy is going.

I disagree, because the type of people who are interested in GPU mining tend to be either college kids who spend mommy's money or upper-class technology workers. These folks aren't affected by inflation. If a recession happens, they need to worry about the value of their real estate or stock shares going down more than their mining rigs. Cryptocurrency may be an inflation hedge.

I know this is not the economics or speculation section but crypto currencies are not a inflation hedge. It seems like it should be however crypto currencies and Bitcoin especially are correlated with the stock market. Especially the nasdaq index.

Plot a chart of Bitcoin and nasdaq side by side and you will see they follow each other very closely. So since inflation is up, the interest rates will rise, which will cause stocks to fall and crypto will follow.

It basically is considered a risk on asset.

[philipma1957]

Second is that there are new gen video cards being released soon so people are waiting for those.

Miners who are waiting for next-gen cards will be disappointed. But you're right about the newer cards being very useful to gamers because of the high TFLOPs. So if gamers currently are 60% of the buyers of the market and they're waiting, that would drive prices down.

Third is inflation and recession risk. People are saving their money for the worst to come due to the way the economy is going.

I disagree, because the type of people who are interested in GPU mining tend to be either college kids who spend mommy's money or upper-class technology workers. These folks aren't affected by inflation. If a recession happens, they need to worry about the value of their real estate or stock shares going down more than their mining rigs. Cryptocurrency may be an inflation hedge.

I know this is not the economics or speculation section but crypto currencies are not a inflation hedge. It seems like it should be however crypto currencies and Bitcoin especially are correlated with the stock market. Especially the nasdaq index.

Plot a chart of Bitcoin and nasdaq side by side and you will see they follow each other very closely. So since inflation is up, the interest rates will rise, which will cause stocks to fall and crypto will follow.

It basically is considered a risk on asset.

For now it is. But it won't be down the road.