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Author Topic: The great tsnuami of selling used GPU's..When will it commence  (Read 1657 times)
Marvell1
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July 16, 2017, 07:26:04 PM
 #21

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
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July 16, 2017, 08:57:59 PM
 #22

I see dead people hehe
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July 16, 2017, 09:02:56 PM
 #23

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.
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July 16, 2017, 09:16:13 PM
 #24

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! Smiley
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 Smiley

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July 16, 2017, 09:20:01 PM
 #25

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! Smiley
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 Smiley


And what will you mine after thereum goes POS and DAG file will be even bigger -> will make rx cards obsolete?
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July 16, 2017, 09:24:33 PM
 #26

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.

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July 16, 2017, 10:07:44 PM
 #27

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! Smiley
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 Smiley


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.

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July 17, 2017, 03:33:32 AM
 #28

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.

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July 17, 2017, 03:37:24 AM
 #29

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! Smiley
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 Smiley


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.

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July 17, 2017, 04:25:10 AM
 #30

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

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July 17, 2017, 05:52:57 AM
 #31

prices still ridiculous in canadian market, will take >1 year to get ROI at this rate and ETH difficulty is still going up
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July 17, 2017, 07:30:41 AM
 #32

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 :-).

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Naughtid
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July 17, 2017, 07:42:09 AM
 #33

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.
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