Bitcoin Mining Craze

[TheGamingPCBuilder]

Hello all. 

I'm in the midst of putting together a PC in PCPP and graphics card prices are through the roof because of the bitcoin mining craze. When should I expect them to back to normal, or if I should expect it at all or just keep my current GPU for now? I have my eyes on an RX 580 8GB ASUS Strix card for $280 (cheapest decent gpu I could find, frankly).. or should I wait for cards like the 1070 to come back to lower prices. It's like a GPU ghost town right now.

[You_are_a_cunt]

I saw Butcoin and I laughed.

 

Anyway, the prices have started to slowly come down and there will be an overflow of second hand cards in the following months

[That_PC_Kid]

People aren't buying GPUs for BitCoin mining but rather Ethereum mining. The reason miners are using GPUs for mining Ethereum is because it is ASIC resistant. ASIC is a device that was made specifically for mining BitCoin and some other cryptocurrencies. With Ethereum being resistant to ASIC hardware miners have resulted to using multi-GPU setups to handle the mining.

[dfsdfgfkjsefoiqzemnd]

The various manufacturers are starting to release cards aimed specifically at crypto mining so expect gaming cards to be available again soon, either new or fairly young (but heavily used) second-hand.

[TheGamingPCBuilder]

10 minutes ago, revsilverspine said:

I saw Butcoin and I laughed.

 

Anyway, the prices have started to slowly come down and there will be an overflow of second hand cards in the following months

Yes, had to fix that problem and thought I had read over the post before it went up.. obviously I didn't do too well. But thanks for the reply!

[TheGamingPCBuilder]

8 minutes ago, That_PC_Kid said:

People aren't buying GPUs for BitCoin mining but rather Ethereum mining. The reason miners are using GPUs for mining Ethereum is because it is ASIC resistant. ASIC is a device that was made specifically for mining BitCoin and some other cryptocurrencies. With Ethereum being resistant to ASIC hardware miners have resulted to using multi-GPU setups to handle the mining.

All in all, I can't wait to be able to think about buying a 1070 without gawking at the price. That will be a glorious day, but for now I'll keep my older R9 380 in my new rig

[TheGamingPCBuilder]

8 minutes ago, Captain Chaos said:

The various manufacturers are starting to release cards aimed specifically at crypto mining so expect gaming cards to be available again soon, either new or fairly young (but heavily used) second-hand.

Thank you for the response, kind sir. Probably not the best time to start building another rig, but what can you do.

[arvark]

1 minute ago, TheGamingPCBuilder said:

All in all, I can't wait to be able to think about buying a 1070 without gawking at the price. That will be a glorious day, but for now I'll keep my older R9 380 in my new rig

Your 380 is still a very good graphics card.  

[That_PC_Kid]

Just now, TheGamingPCBuilder said:

All in all, I can't wait to be able to think about buying a 1070 without gawking at the price. That will be a glorious day, but for now I'll keep my older R9 380 in my new rig

When the market crashes or a new type of ASIC device is made for Ethereum RX 470/480/570/580s and GTX 1060 6GB/1070/1080/1080 Tis will return to their normal prices and miners will be selling their old cards for cheap on eBay like hotcakes.

[dfsdfgfkjsefoiqzemnd]

1 minute ago, TheGamingPCBuilder said:

Probably not the best time to start building another rig, but what can you do.

True.  If you have a card in your old rig, I'd suggest using that for a little while.  Things will probably be back to normal in a month or so, but that's just a calculated guess. 

[TheGamingPCBuilder]

Just now, arvark said:

Your 380 is still a very good graphics card.  

Thanks! It's the Gigabyte 4 GB model with some fancy title. Still have a FX 6300 with that bad-boy and have never been more satisfied. The urge to upgrade to new hardware is simply out of every PC builders need to build a new system.

[That_PC_Kid]

12 minutes ago, Captain Chaos said:

The various manufacturers are starting to release cards aimed specifically at crypto mining so expect gaming cards to be available again soon, either new or fairly young (but heavily used) second-hand.

The mining specific cards might not be enough for miners to switch to as they will have no resale value. Unless they are extremely great at mining compared to GPUs.

[TheGamingPCBuilder]

9 minutes ago, TheGamingPCBuilder said:

Thanks! It's the Gigabyte 4 GB model with some fancy title. Still have a FX 6300 with that bad-boy and have never been more satisfied. The urge to upgrade to new hardware is simply out of every PC builders need to build a new system.

Correction: Sapphire R9 380 Nitro 4GB GPU

[tom_w141]

24 minutes ago, That_PC_Kid said:

ASIC device

The new currencies are ASIC resistant by design. GPU mining isn't going away any time soon

[tom_w141]

Just now, GamingMemeKing said:

As a new miner myself, I would rather go with the normal GPUs > Mining GPUs because of warranty.

 

You only get 3 months warranty with the mining GPUs, with the normal MSI GPUs, I get 3 years...

 

If you plan on mining for 12months or more, getting the normal GPUs is the better option. + Yes, also have a resale value.

 

Will be surprised if anyone buys the mining variants. They offer the same hash rate, pitiful warranty and zero resale value.

[Gaurav S Rao]

44 minutes ago, TheGamingPCBuilder said:

Hello all. 

I'm in the midst of putting together a PC in PCPP and graphics card prices are through the roof because of the bitcoin mining craze. When should I expect them to back to normal, or if I should expect it at all or just keep my current GPU for now? I have my eyes on an RX 580 8GB ASUS Strix card for $280 (cheapest decent gpu I could find, frankly).. or should I wait for cards like the 1070 to come back to lower prices. It's like a GPU ghost town right now.

Yeah,but don't go for a 1070 for BC mining since AMD cards are just much better for that.

[tom_w141]

26 minutes ago, Captain Chaos said:

be back to normal in a month

It's been on going since May why would it stop in August?

[tom_w141]

4 minutes ago, Gaurav S Rao said:

Yeah,but don't go for a 1070 for BC mining since AMD cards are just much better for that.

AMD cards are better at Ethereum. 1070 would be your ideal mining card now because Ethereum has been over exposed by the noob community plus every youtuber and their dog making an ethereum video recently. Ethereum doesn't have a long life now but many others including Zcash which suits CUDA cores very well are still going strong. In fact 1 ZEC (zcash) is worth more than 1 ETH (Ether) right now.

 

EDIT: Btw no one mines BTC (Bitcoin) with a GPU now. It is ASIC dominated.

[TheGamingPCBuilder]

Sooo RX 580 or GTX 1060 6GB? The 1060 is a little more at $328 USD and the 580 is only $280 USD with 8GB VRAM.. any opinions? I'm building a gaming PC not mining rig