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Cryptomining is messing with the GPUs

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Posted · Original PosterOP

So... I've got my results back, and luckily my parents allowed me to buy the parts (which I haven't done yet) for the pc itself.

I went to my local computer centre (HK) and tried to look for shops that sell 1080s. I found it strange for multiple shops not having any left in stock, I then asked one shopkeeper and he said it was because people (a$$hole is what I call them) are buying multiple GPUs to mine bitcoin...

So sadly I have to downgrade to a 1070.

 

I would like you guys to comment what you think about the current situation maybe in your country/city, since some are having the same problem but with different GPUs.

 

Thank you.


 

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Its been like that for a while now (2-3 months), its starting to die down now though. Interesting to see the 1080 out of stock, the GDDR5X memory isnt very good to mine with. 


Please quote our replys so we get a notification and can reply easily. Never cheap out on a PSU, or I will come to watch the fireworks. 

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Posted · Original PosterOP
Just now, rn8686 said:

Its been like that for a while now (2-3 months), its starting to die down now though. Interesting to see the 1080 out of stock, the GDDR5X memory isnt very good to mine with. 

How does the memory affect the mining?


 

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The recent reduction in profitability should help ease the pain, but we don't seem to be anywhere near back to normal yet. I looked earlier at online stores. There are still no new RX 500 series for sale. On ebay, pricing hasn't dropped yet for new cards, and used ones are still significantly elevated.

 

If you can afford to, try and wait it out. 


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Posted · Original PosterOP
1 minute ago, tom_w141 said:

Oh hey its the news from May/June.

 

Now that Deja vu is over. The mining is actually dying down. If you can wait a month or so prices may come back down. It's already starting

it might be, it might not

I guess it's dying down at your guys' place but not in hk I think


 

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Just now, CHILDISH_K1LL3R said:

How does the memory affect the mining?

It just isnt very effective compared to regular GDDR5, not as good value compared to 1060/1070 for it. 


Please quote our replys so we get a notification and can reply easily. Never cheap out on a PSU, or I will come to watch the fireworks. 

PSU Tier List

 

My specs

Spoiler

PC:

CPU: Intel Core i5-6600K @4.8GHz
CPU Cooler: Noctua NH-U14S 
Motherboard:  ASUS Maximus VIII Hero 
GPU: Zotac AMP Extreme 1070 @ 2114Mhz
Memory: Corsair Vengeance LPX 16GB (2 x 8GB) DDR4-2400 
Storage: Samsung 850 EVO-Series 500GB 
Storage: Western Digital Caviar Blue 1TB
Case: Cooler Master MasterCase Pro 5 
Power Supply: EVGA 750W G2

 

Peripherals 

Keyboard: Corsair K70 LUX Browns
Mouse: Logitech G502 
Headphones: Kingston HyperX Cloud Revolver 

Monitor: U2713M @ 75Hz

 

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I havent checked what the prices for gpu are like in HK since a few weeks ago but personally im holding off on buying one till vega launches

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Posted · Original PosterOP
14 minutes ago, PCNoobie said:

Today, I saw someone selling used 1060 3gb for $270 each and I think they were used for bitcoin mining by seeing this picture...EVGA-GeForce-GTX-1060-3GB-GAMING

*HEAVY BREATHING*

*Sweat drips down the cheeks

*Hand slowly move towards the monitor

And...

 

There is no and

 


 

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23 minutes ago, PCNoobie said:

Today, I saw someone selling used 1060 3gb for $270 each and I think they were used for bitcoin mining by seeing this picture...EVGA-GeForce-GTX-1060-3GB-GAMING

I remember seeing pictures of stacks like that, usually they are tricks to make you like the page.

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1 hour ago, System Error Message said:

I remember seeing pictures of stacks like that, usually they are tricks to make you like the page.

But $270 each for a GTX 1060 is still above MSRP. It is supposed to be around $200.

 

So much for miners selling their cards "cheaply" as you always hear about.

 

Seems like miners push up the prices in the first place, and then try to profit off of the elevated prices when dumping their cards as well. Plus, the cards were abused for mining, so they should be worth less than a 'normal' card.

 

Hopefully when all the cards get dumped, you can pick these up for a more reasonable price. I guess this guy decided to get out while prices are still inflated.

 

 

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Just now, maartendc said:

But $270 each for a GTX 1060 is still above MSRP. It is supposed to be around $200.

 

So much for miners selling their cards "cheaply" as you always hear about.

 

Seems like miners push up the prices in the first place, and then try to profit off of the elevated prices when dumping their cards as well. Plus, the cards were abused for mining, so they should be worth less than a 'normal' card.

 

Hopefully when all the cards get dumped, you can pick these up for a more reasonable price. I guess this guy decided to get out while prices are still inflated.

 

 

buy loads of cards, make money of them, sell them for more than you bought them, thats despicable.

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1 hour ago, CHILDISH_K1LL3R said:

*HEAVY BREATHING*

*Sweat drips down the cheeks

*Hand slowly move towards the monitor

And...

 

There is no and

 

Don't get all hyped up. There 1060s and at that it's the 3gb version. So it's weaker then an actaul 1060 Should be. They should called the 1050ti v2,


Smoking weed at the red light like its legal

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22 minutes ago, maartendc said:

But $270 each for a GTX 1060 is still above MSRP. It is supposed to be around $200.

 

So much for miners selling their cards "cheaply" as you always hear about.

 

Seems like miners push up the prices in the first place, and then try to profit off of the elevated prices when dumping their cards as well. Plus, the cards were abused for mining, so they should be worth less than a 'normal' card.

 

Hopefully when all the cards get dumped, you can pick these up for a more reasonable price. I guess this guy decided to get out while prices are still inflated.

 

 

Well miners don't try to push up the price. Just everyone is mining and buying cards so that causes a shortage.

 

And the law of supply and demand says if supply is low and demand is high prices will rise. 

 

If manufacturers could make as many cards as people want then the price would be the same. So if anything it's the manufacturers fault because they can't keep up. 

 

Cards are made to be sold. So people buying alot even if it's just to mine shouldn't be called the problem here. 


Smoking weed at the red light like its legal

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the mining craze help me snag a 1080 ti asus strix OC @ 865aud :) which im super happy given these cards retail at least 1399-1479aud in the market place here for Australia [f***ing expensive]...

 

i guess that benefits me for someone who wanted to game initially and not mass hog cards for incremental gains and perform 24/7 operations.

 

in a way i would see it as a benefit and not a terrible scenario.

 

#ONTOPIC below.

 

In australia, we are in the sucker end of things to be honest, everything was sold out literally [1060 1070 rx480 rx580] with stock only being abundant for 1050 ti , 1080 and 1080 tis to name a few...

 

not to mention we pay more than what other countries do for the same thing... 1070 iirc went up 629 >> 799aud... 1060 i wasnt too sure as i never considered it.

1080 tis raised by at least 150aud+ [not sure why, these cards arent optimal for mining]. 1080 about 70-100aud+


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26 minutes ago, HunterSkater429 said:

Well miners don't try to push up the price. Just everyone is mining and buying cards so that causes a shortage.

 

And the law of supply and demand says if supply is low and demand is high prices will rise. 

 

If manufacturers could make as many cards as people want then the price would be the same. So if anything it's the manufacturers fault because they can't keep up. 

 

Cards are made to be sold. So people buying alot even if it's just to mine shouldn't be called the problem here. 

That is all true, but I'm not saying that miners are "trying" to push up the price, but the fact of the matter is that there is a cause and effect here with them buying all the stock and this resulting in elevated prices.

 

You're trying to say it is not miner's 'fault'. Well, it kind of is, even though it might not be intentional. Manufacturers can only produce as many cards as their factories can produce (you can look even at the shortages during the GTX 10 series launch, they could not produce enough fast enough). So saying it is the 'manufacturers fault' is ridiculous.; Manufacturers don't have a crystal ball to predict mining crazes, these come and go very fast (matter of weeks).

 

And even if they did, they cannot ramp up production that fast, building a new manufacturing plant takes months, years even. Just look at the shortage in DDR4 and NAND memory right now. It takes a long time for manufacturing to increase. It is not as simple as pushing a button that says: make more cards.

 

And yes, these miners are now selling the same cards above MSRP, so they are definitely trying to profit of off the elevated prices. Of course it is supply and demand, but don't say the miners have nothing to do with it. They have everything to do with it. They basically distort the normal GPU market. Simple as that.

 

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1 hour ago, maartendc said:

That is all true, but I'm not saying that miners are "trying" to push up the price, but the fact of the matter is that there is a cause and effect here with them buying all the stock and this resulting in elevated prices.

 

You're trying to say it is not miner's 'fault'. Well, it kind of is, even though it might not be intentional. Manufacturers can only produce as many cards as their factories can produce (you can look even at the shortages during the GTX 10 series launch, they could not produce enough fast enough). So saying it is the 'manufacturers fault' is ridiculous.; Manufacturers don't have a crystal ball to predict mining crazes, these come and go very fast (matter of weeks).

 

And even if they did, they cannot ramp up production that fast, building a new manufacturing plant takes months, years even. Just look at the shortage in DDR4 and NAND memory right now. It takes a long time for manufacturing to increase. It is not as simple as pushing a button that says: make more cards.

 

And yes, these miners are now selling the same cards above MSRP, so they are definitely trying to profit of off the elevated prices. Of course it is supply and demand, but don't say the miners have nothing to do with it. They have everything to do with it. They basically distort the normal GPU market. Simple as that.

 

well again its just supply and demand, they might not have planned in the start to buy a card and have it sell for more later. and becase of supply and demand the prices are higher, so when mining dies they will see they have money from mining and becase of the shortage the cards that are around are selling for more. their cards ran 24/7 so they will sell them and buy a better or different card that is new. it just turned out like that, i doubt they planned it, some people definitely did plan it (a guy is selling 4 brand new 480s for top price near me) but im talking about the masses right now.

 

if I could sell my card for more then I paid id sell it too. 

 

yes they are why cards are not in stock, but its not their fault for buying a product that's on the market. intel and amd could use their billions to ramp up production, at least have some plants set up for scenarios like this.

 

if shortages happened before and its nothing new there should be things set in place to help with it.


Smoking weed at the red light like its legal

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6 hours ago, CHILDISH_K1LL3R said:

So... I've got my results back, and luckily my parents allowed me to buy the parts (which I haven't done yet) for the pc itself.

I went to my local computer centre (HK) and tried to look for shops that sell 1080s. I found it strange for multiple shops not having any left in stock, I then asked one shopkeeper and he said it was because people (a$$hole is what I call them) are buying multiple GPUs to mine bitcoin...

So sadly I have to downgrade to a 1070.

 

I would like you guys to comment what you think about the current situation maybe in your country/city, since some are having the same problem but with different GPUs.

 

Thank you.

they are not assholes. they are allowed to buy what they want.


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That's capitalism for you

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Also 1080 is pretty shitty for mining... 1070 does it faster


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