Bitcoin/Cryptocurrency Craze Wipes out AMD GPU Supply

[Valentyn]

These chaps say they have at least 10,000 cards mining in Iceland right now.

That's were most EU stock went
 

 

[DIV1D3]

Just now, Valentyn said:

These chaps say they have at least 10,000 cards mining in Iceland right now.

That's were most EU stock went

I wonder what happened to most of the older mass mining workplaces, like seriously, when the GPUs these guys are using now become inefficient compared to newer technologies, what do they do with them all?

I don't think I've ever seen an eBay listing for a couple thousand GPUs advertised as being ex-mining cards lol. 

[Valentyn]

10 minutes ago, DIV1D3 said:

I wonder what happened to most of the older mass mining workplaces, like seriously, when the GPUs these guys are using now become inefficient compared to newer technologies, what do they do with them all?

I don't think I've ever seen an eBay listing for a couple thousand GPUs advertised as being ex-mining cards lol. 

 

Most are likely sold off, although would you want a card that was so abused all of its existence? The poor PTSD alone.

[DIV1D3]

1 minute ago, Valentyn said:

Most are likely sold off, although would you want a card that was so abused all of its existence? The poor PTSD alone.

That is why these bursts of popularity in Crypto Mining is so damaging to the used GPU market, not only are you polluting the pool of GPUs to select from (because people won't dare advertise their used GPUs as being ex-miners, they are assumed to be run at 100%, 24/7), but also degrading the overall prices of the used card market.

 

More Competition + Lower Quality Product = Reduced Prices for ALL

Not so good for buyers, and terrible for sellers. 

[Droidbot]

1 minute ago, DIV1D3 said:

That is why these bursts of popularity in Crypto Mining is so damaging to the used GPU market, not only are you polluting the pool of GPUs to select from (because people won't dare advertise their used GPUs as being ex-miners, they are assumed to be run at 100%, 24/7), but also degrading the overall prices of the used card market.

is that why lots of 280x's/7970s are so cheap used now and lots are easy and cheap to buy from GPU mining sites?

 

lots were advertised as ex-mining cards. 

 

it's not bad for the used market - it drives down prices and you can tell that it was used for mining by the age of the card. for example I've seen 3 months old 480s, asked the seller and he said it was running in an open air mining bench at 70 ish c while mining. why else would he be selling them? think about it. unless you're leaving the country or something, why.. 

[DIV1D3]

6 minutes ago, Droidbot said:

is that why lots of 280x's/7970s are so cheap used now and lots are easy and cheap to buy from GPU mining sites?

 

lots were advertised as ex-mining cards. 

 

it's not bad for the used market - it drives down prices and you can tell that it was used for mining by the age of the card. for example I've seen 3 months old 480s, asked the seller and he said it was running in an open air mining bench at 70 ish c while mining. why else would he be selling them? think about it. unless you're leaving the country or something, why.. 

If I was upgrading my components, I'd look to sell my old hardware. No use in keeping a 280X if you've just bought a GTX 1070 and have no other computer setups. 

As I mentioned, it's good for buyers, in some cases, but you'll have the off chance of buying a brutally used GPU that hasn't got a break since it was unboxed. For sellers, there's absolutely no upside, more competition which advertise for far less than average drastically reduces your returns. 

[Space Reptile]

32 minutes ago, Valentyn said:

 

Most are likely sold off, although would you want a card that was so abused all of its existence? The poor PTSD alone.

i know for a fact that my 290 was used for mining , and thats a ref card , running for over a year at 95c and still going strong (now on water )  

[leadeater]

3 hours ago, Space Reptile said:

pretty , the 290 @ 1100mhz can make 30mh/s , id say a 290x shud be pretty much the same , thats like 4~5$ a day depending on the Course of eth

Chucked on NiceHash just to see how good it would be, so the two 290X's are doing $7.68 USD/day. Nice thing is mine are water cooled so I'll try some OC'ing soon . Winter is also just getting cold and peak power of my system is about 800W so it'll be better to mine than run my heater lol.

 

Edit:

@Space Reptile

3% OC on a single card put it up to 7.81, 50% return on OC isn't bad at all.

[Space Reptile]

5 minutes ago, leadeater said:

Chucked on NiceHash just to see how good it would be, so the two 290X's are doing $7.68 USD/day. Nice thing is mine are water cooled so I'll try some OC'ing soon . Winter is also just getting cold and peak power of my system is about 800W so it'll be better to mine than run my heater lol.

nice , i hope you have a wallet as thats like ~240$ /m  

[leadeater]

2 minutes ago, Space Reptile said:

nice , i hope you have a wallet as thats like ~240$ /m  

It's black and has way too many cards in it, lots of them long expired .

[Space Reptile]

20 minutes ago, leadeater said:

It's black and has way too many cards in it, lots of them long expired .

i mean a Bitcoin wallet (id reccomend paxful )

trust me im not payed by them to say this

[leadeater]

5 minutes ago, Space Reptile said:

i mean a Bitcoin wallet (id reccomend paxful )

trust me im not payed by them to say this

I might have been playing dumb lol.

 

Edit:

Up to 8.10/day btw.

[Space Reptile]

4 minutes ago, leadeater said:

I might have been playing dumb lol.

 

Edit:

Up to 8.10/day btw.

i thought so  

 

nice , thats quite some dosh

[YoloSwag]

I remember when there was a demand for 7950s because of this craze back in the old days...which is just like a couple of years ago.

[YoloSwag]

Mining question - How does it work? I mean does it take long before you get your first coin or something?

[DIV1D3]

Just now, YoloSwag said:

Mining question - How does it work? I mean does it take long before you get your first coin or something?

You won't be getting it in whole coins, rather you get a fraction of a coin depending on how much you contributed to the pools progress (a group of miners). 

I mean, you could mine a crypto by yourself, but that's silly as it's the same amount of money/power but just more infrequent. 

 

Dunno about how quickly you can get it up and running, from what it seems nowadays it's really quick and as simple as downloading the miner and launching it. 

[Space Reptile]

4 minutes ago, YoloSwag said:

Mining question - How does it work? I mean does it take long before you get your first coin or something?

depends , usually you dont get payed in full coin but rather a microcoin ( a 1/1000th fraction) and it all depends on how much you make and what pool / Service you use , it can be daily , or could be every week

[YoloSwag]

5 minutes ago, Space Reptile said:

depends , usually you dont get payed in full coin but rather a microcoin ( a 1/1000th fraction) and it all depends on how much you make and what pool / Service you use , it can be daily , or could be every week

Dang, it sounds like some legit treasure hunting quest in a game where you need the fractions to make it complete.

[Space Reptile]

1 minute ago, YoloSwag said:

Dang, it sounds like some legit treasure hunting quest in a game where you need the fractions to make it complete.

haha not really all you do is to tell your pc to make Money and check on it every now and then  

then you wait for the weekly ping on your phone as you get your payout

[You_are_a_cunt]

Welp. Selling my shelved AMD GPUs then D:

I wonder how much I can get for my rx 480

In all seriousness, I might just sell my dad's 290s and my mom's 280x, replace them with nvidia cards and still make a profit <__<

 

L.E.: HOLY HELL!

Just checked the usual retailers I buy from and there is literally no 400 or 500 series card in stock. Dayum

[YoloSwag]

2 minutes ago, Space Reptile said:

haha not really all you do is to tell your pc to make Money and check on it every now and then  

then you wait for the weekly ping on your phone as you get your payout

Sounds nice. How does the R5 1600 do? or you never use it to mine? does it take a month for a coin or more than?

[Space Reptile]

Just now, YoloSwag said:

Sounds nice. How does the R5 1600 do? or you never use it to mine? does it take a month for a coin or more than?

my 1600 makes 1.00~1.10$ a day , i use a pool miner so i get fractions , a full coin would take me Close to a year w/ all my gear that is currently mining  

[leadeater]

3 minutes ago, YoloSwag said:

Sounds nice. How does the R5 1600 do? or you never use it to mine? does it take a month for a coin or more than?

Would take wayyyy more than a month to mine a full coin with a R5 1600, go check how much they are worth .

[YoloSwag]

3 minutes ago, leadeater said:

Would take wayyyy more than a month to mine a full coin with a R5 1600, go check how much they are worth .

2 minutes ago, Space Reptile said:

my 1600 makes 1.00~1.10$ a day , i use a pool miner so i get fractions , a full coin would take me Close to a year w/ all my gear that is currently mining  

Sounds bad. I'll have to think about a bunch of other stuff and some detailed cost-based analysis before jumping on the bandwagon. Thought it was easy.

[leadeater]

2 minutes ago, YoloSwag said:

Sounds bad. I'll have to think about a bunch of other stuff and some detailed cost-based analysis before jumping on the bandwagon. Thought it was easy.

#RadeonUsers