The 2018 GPU Apocalypse

[Skircher5]

Has anyone Else Seen That Almost all of the GTX 1070/80s on Amazon Newegg and other big Retailers Are Currently over 1000-2000 Dollars? IS there something Going on that im missing?

[79wjd]

Mining.

[Lurick]

Three words:

Crypto Currency Mining

[SilkyDistress]

2 minutes ago, Skircher5 said:

Has anyone Else Seen That Almost all of the GTX 1070/80s on Amazon Newegg and other big Retailers Are Currently over 1000-2000 Dollars? IS there something Going on that im missing?

Yes, cryptocurrency value went up and miners are buying GPU's.

[FrowningHippo]

Well, nothing really new. A lot of people are into mining and buy these GPUS creating shortages and driving up the prices.

[SilkyDistress]

Just now, Lurick said:

Three words:

Crypto Currency Mining

F*ck that thing, only reason why I cannot upgrade my GPU atm.

[Lurick]

Just now, SilkyDistress said:

F*ck that thing, only reason why I cannot upgrade my GPU atm.

At least AMD and Nvidia haven't come out and said "We're not going to do anything about this and keep capacity low" like Samsung and the other DRAM companies >.<*

[STRMfrmXMN]

Cryptocurrency mining.

 

Honestly, I hate it. It's a waste of the planet's resources and gives you pennies on the dollar when the price of the GPU, the cost of cooling your house, and the cost of your electricity is taken into account, not to mention losing a ton of money if you plan to resell the GPU. I refrain from helping people buy PSUs for mining systems based on moral premise and I especially hate it when people mine on non-renewable energy. Just a complete waste. It also drives out stock of GPUs for people who just want to play video games, like GTX/RX GPUs are for.

[CyberFern0]

8 minutes ago, djdwosk97 said:

Mining.

why though

 

What do GPU's hafve to do with mining.

[79wjd]

2 minutes ago, CyberFern0 said:

why though

 

What do GPU's hafve to do with mining.

They're great for mining (relative to their cost). People can make money using them for mining, so people buy them in large quantities therefore buying up all the stock leading to shortages and high prices.

 

4 minutes ago, STRMfrmXMN said:

Cryptocurrency mining.

 

Honestly, I hate it. It's a waste of the planet's resources and gives you pennies on the dollar when the price of the GPU, the cost of cooling your house, and the cost of your electricity is taken into account. I refrain from helping people buy PSUs for mining systems based on moral premise and I especially hate it when people mine on non-renewable energy. Just a complete waste. It also drives out stock of GPUs for people who just want to play video games, like GTX/RX GPUs are for.

It's still easy money though, so you can't blame anyone for doing it. 

[CyberFern0]

1 minute ago, djdwosk97 said:

They're great for mining (relative to their cost). People can make money using them for mining, so people buy them in large quantities therefore buying up all the stock leading to shortages an high prices.

So mining is when people get good graphics cards and leave their computer on during the night to get some extra money?

[79wjd]

1 minute ago, CyberFern0 said:

So mining is when people get good graphics cards and leave their computer on during the night to get some extra money?

Basically. It's when people leave their systems running whenever they're not using it (or people who buy the hardware explicitly for mining) to verify cryptocurrency transactions and thus making money.

[Wh0_Am_1]

23 minutes ago, Skircher5 said:

Has anyone Else Seen That Almost all of the GTX 1070/80s on Amazon Newegg and other big Retailers Are Currently over 1000-2000 Dollars? IS there something Going on that im missing?

Well there are 2 things 1) the issue that has already been discussed, due to some driver updates and whatnot Nvidia GPUs are almost as good as similarly specked AMD ones for mining, and the fact that Nvidia and there partners are no longer producing the 10 series GPUs and are currently manufacturing their next-gen ones only inflates the problem, which means if you want an Nvidia GPU in the near future, buy one now, or else you may have a long wait (some predict 3-4months) ahead.

[Wh0_Am_1]

13 minutes ago, djdwosk97 said:

Basically. It's when people leave their systems running whenever they're not using it (or people who buy the hardware explicitly for mining) to verify cryptocurrency transactions and thus making money.

yeah my GTX 1050 earns ~$2 a day, which doesn't sound like much until you realize I spent $200 on my entire rig.

[STRMfrmXMN]

Just now, Wh0_Am_1 said:

yeah my GTX 1050 earns ~$2 a day, which doesn't sound like much until you realize I spent $200 on my entire rig.

Have you calculated the cost of the electricity you're wasting in doing this? Because I guarantee you the steady 70W that GPU needs to run at 100% is completely nullifying your profit.

[Wh0_Am_1]

3 minutes ago, STRMfrmXMN said:

Have you calculated the cost of the electricity you're wasting in doing this? Because I guarantee you the steady 70W that GPU needs to run at 100% is completely nullifying your profit.

After electricity. remember the U.S. averge is $0.10 per Kilowatt hour, and my computer eats up ~80 Watts that is about 20 cents a day. Then you factor in that it is also heating the house. Which you pay for anyway.

[79wjd]

4 minutes ago, STRMfrmXMN said:

Have you calculated the cost of the electricity you're wasting in doing this? Because I guarantee you the steady 70W that GPU needs to run at 100% is completely nullifying your profit.

Even going by a high average electricity cost (in the US anyway -- $0.23/kwh), you'd be looking at $0.40/day from the GPU alone. 

[STRMfrmXMN]

18 minutes ago, djdwosk97 said:

It's still easy money though, so you can't blame anyone for doing it. 

It's not though. Let's go over the costs:

 

1. Initial price of your GPU. Say you're buying a GTX 1070 in today's market, the best GDDR5 GPU. You're spending $500 conservatively, if you can even find one.

2. Cost of electricity for keeping your system always on and running the GPU at 100%. Even for something power-efficient like a 1060, this is still about 120W of power being consumed at all time. Cost of electricity often depends on the time of the day, so if you're mining at 5 PM you're paying a little more than you would be at noon.

3. If you're in a warmer climate/warmer season, the cost of keeping your house cool. Your room will get substantially warmer if running a hot GPU during the summer. During the winter it isn't so much an issue, of course.

4. The cost of re-selling your GPU. This is where I think a TON of people forget how much money they lose. Already your product is in "used" condition, nicking a huge amount of resale value off the card. Second, if any indication is given that the card has been used for mining, you can toss a little extra of your profit out the window since most people don't want to buy a GPU that's been pegged at 100% since the day it was removed from its box.

 

And fifth, not really a profit thing, but I care enough about the environment to the point where the non-renewable energy powering a majority of the planet is reason enough for me not to mine. 

[Zodiark1593]

While my own gpu can probably net close to $1.50-$2 a day as well, out of respect to the one paying the electricity, I refrain from doing so, especially since electricity in my area is in the higher end at 14 cents/Kwh.

[79wjd]

6 minutes ago, STRMfrmXMN said:

It's not though. Let's go over the costs:

 

1. Initial price of your GPU. Say you're buying a GTX 1070 in today's market, the best GDDR5 GPU. You're spending $500 conservatively, if you can even find one.

I don't know how much you can make with a 1070, so I'll focus on the 1050Ti that can make $2/day. If the computer was going to be left on all day idling anyway, then mining is only an extra 70w~, in which case an extra $0.40/day at most (more reasonably somewhere between $0.20 and $0.40/day). So that's $1.60 ($1.80) profit every day. So at 100 (90) days you've broken even, and every day after that is $1.60-$1.80 profit.

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2. Cost of electricity for keeping your system always on and running the GPU at 100%. Even for something power-efficient like a 1060, this is still about 120W of power being consumed at all time. Cost of electricity often depends on the time of the day, so if you're mining at 5 PM you're paying a little more than you would be at noon.

$0.20/kwh is a pretty safe peak hour average, so my estimates were on the high side of things. 

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3. If you're in a warmer climate/warmer season, the cost of keeping your house cool. Your room will get substantially warmer if running a hot GPU during the summer. During the winter it isn't so much an issue, of course.

The cost of air conditioning 70w of heat wouldn't be anywhere near $1.60/day.

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4. The cost of re-selling your GPU. This is where I think a TON of people forget how much money they lose. Already your product is in "used" condition, nicking a huge amount of resale value off the card. Second, if any indication is given that the card has been used for mining, you can toss a little extra of your profit out the window since most people don't want to buy a GPU that's been pegged at 100% since the day it was removed from its box.

A lot of buyers are stupid, but even without reselling the GPU you can make profit. Being able to sell it is just a way to boost profit further.

[tikker]

On 13-1-2018 at 11:56 PM, DavePlays said:

The Titan XP is actually cheaper than some 1080Tis on the market right now. Good god.

Yeah I saw a 1080 Ti for €1800 the other day... it's insane.

[DavePlays]

AMD and NVIDIA need to start locking coin mining from their GPUs. This destroys the PC market.

[Mk7-Golf-R]

36 minutes ago, DavePlays said:

AMD and NVIDIA need to start locking coin mining from their GPUs. This destroys the PC market.

Why would they do that, they are selling cards as fast as they can make them. 

[Majinhoju]

Holy crap, they're even worse now.

I bought my 1080 for $669 (late November), a week or 2 ago my exact model card jumped up to $1200, now it's over $2000.

 

So glad i bought it when i did...

[CyberFern0]

So mining is free money?