GPU price in China drop to their lowest level in history after the ethereu merge

[philipma1957]

In a Bitcoiner's perspective, isn't Ethereum moving to PoS a good thing? Not sure about mining hardware compatibility, but wouldn't it be a safe assumption that some of the Ethereum PoW miners would transition to mining BTC? Bitcoin's mining hashrate is doing really well despite markets being quite bearish. https://coin.dance/blocks/hashrate

This a a very good question and it is hard to answer.

Eth was killer profitable to mine at dollar earned per watt.

the genius Mr V.B. pulled 17-20 million a day in liquid earnings out of the entire crypto system

he replaced it with 1.6 million a day in frozen earnings that won’t  be accessed for six months to a year.

So crypto is losing 7 billion a year in income that was liquid and churns for frozen money that sits.

I would say if you had 12 cent power you could mine eth and turn a profit with ease.

in fact a big gpu rig with 2000 watt draw burned 50 kwatts a day or 10 dollars at 20 cent power.

it did 22 dollars in earnings or 12 profit a day after power.

the best btc gear is an s19 xp it makes about 11 a day and burns 75 kwatts or 15 bucks

so the guy with 20 cent power making 12 a day with his big gpu rig mining eth
now makes - 4 dollars with the best btc asic gear.

you could mine at 20 cents with eth and make 12 bucks
you need -1 cent power with btc to make 12 bucks a day.


the eth gear would have been a 12 card rtx a4500
the btc gear would be a s19 xp 141 th

so basically  the genius set the entire world of crypto backwards quite a bit by going pos.

he directly attacked the founding principal of crypto give to us be satoshi POW 💥

Mr V.B. must sleep poorly

[adaseb]

Yes I think the prices were manipulated a bit. I remember back in 2014 when I started to mine for the very first time. I didn’t have a lot of money and bought a second hand GPU for $75 and was able to pull in maybe $2 a day. A brand new GPU would of been $150 or so. Maybe the high end at the time was $400 for the RX 290.

Now the high end GPUs are well over $1000. Does that make sense. Sure it’s more powerful but who has that kind of money to spend on a GPU. Let alone other computer parts like the motherboard and CPU. Might as well just get a console if you want to play.

[The Sceptical Chymist]

When crypto mining was banned in China, GPU price dropped significantly. Recently after Ethereum merge, the price of GPU has fallen again, but to its lowest in history.

No shocker there.  Just for fun, I'd been watching the GPU market since probably late 2020 when--I kid you not--I learned what a GPU is.  I'm very much a tech retard.  I never had a sense of what prices were before then, but I bought my first GPU to start participating in the Folding@Home project, and later on the BOINC project out of Berkeley.  It was a crappy GDDR3 2GB GPU, but it worked and was fun to experiment with.  That must have cost me like $60 (and was probably too expensive, but I didn't know any better).

And as I kept watching, seeing ETH's price rise and the cost of GPUs going up, it blew my mind.  At this point I don't even know what a reasonably priced 1660 Super should sell for because I've been looking at inflated prices for so long.

As far as the energy cost goes?  You just wait.  It might not be profitable to mine anything with a GPU at the moment, but the minute that changes....cards are going to sell out and this whole controversy is just going to get silenced.  After all, ETH is just one coin out of many.  It's a big one, but it's far from the only one that could be GPU-mined.

Lastly: think of all of those banks with all of those branches across the globe, keeping the lights on 24/7.  I'm pretty sure that cost has been calculated, and though I don't know what it is I'd be willing to bet it's not even close to what bitcoin mining consumes.

[stompix]

I was considering places like Russia and China to be able to sell cheap electricity to industries which might be able to facilitate mining too

I don't think China is that eager to allow miners in 

UK plug sockets are able to handle up to 3000W (electric kettles use about that much).

Your typical consumer-grade sockets and cables are not designed for a 24/7 usage at maximum capacity, and those electric kettles (btw mine is rated 1500W) , don't work at full power even for 5 minutes. If somebody would tell me he plans to mine in a house and using a normal extension cord I would go and persuade their neighbors to get a fire insurance.

As far as the energy cost goes?  You just wait.  It might not be profitable to mine anything with a GPU at the moment, but the minute that changes....cards are going to sell out and this whole controversy is just going to get silenced.  After all, ETH is just one coin out of many.  It's a big one, but it's far from the only one that could be GPU-mined.

This is the daily miner's revenue before the merge:



Ethereum was 96,72% of the revenue, the rest of the coins giving out only 3%, imagine in a city like New York, with 13500 taxicabs, suddenly the population drops from 8.3 million to 250k, do you think being a taxi driver will still be profitable? 
An 3090 was getting you 2.5$ a day, and now with 8cents per kWh, you're losing money! And 1660 that some dare to still ask 300$ for it it's making you $0.14 a day with free electricity.

To turn around the market you will need a coin that prints out $20 million a day in coins and doesn't end up dead from all the guys selling it as soon as they mine it, and there is none!

[mu_enrico]

were your video cards at that point capable of? Watching a 720p stream witouht overheating?

But, the CPU price is more make sense if you calculate the adjusted inflation price. Since 10x computation also comes with 10x cost reduction. #TheLaw


If you guys are interested in conspiracy theories. Perhaps this is only a paid article from ex-miners or Nvidia/AMD shills, to make you think that the price is good already, so you rush to buy a new GPU lol. Don't forget that both AMD & Nvidia stocks were pumped, signaling extreme profitability. They should and must drop to the equilibrium level.

[kryptqnick]

I've never mined Ethereum and I wasn't happy with how miners and scalpers (+ the chip shortage) resulted in crazy GPU prices. I am happy that the supply is now better and the demand is much lower. It's good to hear that the prices are lower than ever in China. Hopefully, something like that will come to Western countries as well, as I'm waiting to buy a decent GPU. I think the other factor to consider for the fall of the prices should be that NVIDIA has already announced their new series and AMD is expected to follow in November. So many people are now waiting for the new GPU, thus making the demand for existing ones lower.

[zasad@]

I paid off for my computer and video card in 2 years because I was mining ethereum when I was not using it in games. I pay about 6 cents for electricity, but now I turn off mining because I have to pay extra for electricity. I have a RTX 2070 and it's enough for me for all games.

[stompix]

were your video cards at that point capable of? Watching a 720p stream witouht overheating?

But, the CPU price is more make sense if you calculate the adjusted inflation price. Since 10x computation also comes with 10x cost reduction. #TheLaw

#Lawdidn'tmakeittothesenate

Where did you get that 10x computation comes with 10x cost reduction? What is this Reverso world?

Meanwhile, in the real world,
At launch, the first generation i7-950, was worth 500$ but let's take the slashed price of $294 which coding to inflation calculators now means $359, and right now for a little over 1/4 of that you could buy an i3-12100F from newegg that beats the crap out of any first generation i7.

So, you see how this works in real life?  

[so98nn]

Nah, the prices are still the same here. I am pretty sure china is country with smart manufacturers. If they are getting lower response from the china region then they will start exporting everything they have at 5x prices easily to countries like USA and Europe. Considering the dollar conversion with yen they still keep the prices lower but get what they want with at such 5x rates. The demand is not at all suppressed even with the merge and moreover it’s poor reason for shortage. There are always better options and many new coins are available to mine. ETH was just one starting point but now PoW coins are numerous and this is more or less non ending ecosystem.

[mu_enrico]

#Lawdidn'tmakeittothesenate

Where did you get that 10x computation comes with 10x cost reduction? What is this Reverso world?

I don't think that's how people should interpret #thelaw
Here's how:
I5-12500 (12th gen) vs I5-750 (1st gen)

Performance: 20,297/2,494 = 8.138x faster
Release Price: $213/$212 = ~1 same price
It's even cheaper if inflation-adjusted

Faster and cheaper! How? Because of cost reduction. #TheLawIsNotDeadYet

[stompix]

Faster and cheaper! How? Because of cost reduction. #TheLawIsNotDeadYet

So you've just proven what I was saying was right and arrived at the conclusion, that this thing:

Back when I was in school, a $600 PC build was considered high-end! Now I have to spend $1200 to get a mainstream build.

was totally wrong cause how else can you have those two statements:
- faster and cheap, 8x times faster at the same price
- a PC build now costs two times as much
true at the same time

#lawdoesn'tmakesenserejected

[mu_enrico]

Back when I was in school, a $600 PC build was considered high-end! Now I have to spend $1200 to get a mainstream build.

was totally wrong cause how else can you have those two statements:
- faster and cheap, 8x times faster at the same price
- a PC build now costs two times as much
true at the same time

Holysh*t you still don't get it! Okay, perhaps you aren't a gamer.

Scum >> "Nvidia CEO proclaims 'Moore's law is dead' over RTX 40-series GPU pricing"

Truth >> "Moore's Law Alive and Well, We Will Exhaust the Periodic Table: Intel's Pat Gelsinger"

Why?

+ power draw

+$600 = Inflated GPU + New PSU
#GPUNotAtTheLowestLevel

[stompix]

Holysh*t you still don't get it! Okay, perhaps you aren't a gamer.

I do not have to be a gamer, I have to be the master of crystal balls to understand what you point out and how you spin it with every single post.

You started that a budget PC is more expensive now than your top of-the-line ten years ago, then you admitted your budget PC now is far more powerful than the previous one, then you actually realized the price for performance has gone down, only to throw now another statistic about, what?

Seriously at this point, what are you even trying to prove?

Remember when a $150-$250 card was considered high-end? Back when I was in school, a $600 PC build was considered high-end! Now I have to spend $1200 to get a mainstream build.

When was that and when was this mile top-of-the-line PC worth only 600$? Because back in 92 a damn modem was 300$, a P4 1.5 at launch was 650$, a 7800 GT $450, so when was this miracle high-end PC build possible? And even excluding this, seriously, what are you trying to prove?

That next-generation video cards that have three times the memory and bandwidth won't be cheaper than the ones built 10 years ago?
Are we going again comparing the 5 series from 1970 with no airbag with the one right now that has 7?

[mu_enrico]

Seriously at this point, what are you even trying to prove?

I don't need to prove anything
If you read the post carefully, you should know that this is a thread about GPU.
I hope you read and comprehend first before you post and talk shit. Honestly, it's annoying, perhaps you are only here for a measly $6 per post.
92? LMAO
Just go back again to an era when a PC is soo expensive that no one uses it except a few offices/universities.

I stand by my statement
$600 build then, can get me a high-end build* (at that time)
$1200 build now, can only get me an RTX 4080, oh with $1 change

*There's a line between high-end and extreme OC shit.

Bye~

[stompix]

I stand by my statement
$600 build then, can get me a high-end build* (at that time)
$1200 build now, can only get me an RTX 4080, oh with $1 change

And it's so damn hard to tell the rest of us morons exactly what your phantasmagoric PC build that was?
Really,  that is hard to say, I bought a P4 4GB Ram 250 GB Hdd for 300$, a thing that everyone could verify, and this debate so simple would be categorically and definitely over. Of course, because you know you've just pulled numbers out of your you know what and that's why you're backtracking with every single post you made.

I hope you read and comprehend first before you post and talk shit. Honestly, it's annoying, perhaps you are only here for a measly $6 per post.

Yeah, the supreme argument when you're out of arguments!
You don't understand me, you're stupid, you post shit just to post, you post numbers just for fun, you come up with arguments just because you hate me, I am running away but I won cause whatever I said it's true. At least you've got one thing right, the mega ultra cheap high and build you had in high school was definitely not in the 90s and not even in the 10s, and far closer to the present date, for obvious restrictions.