Etherium mining is dead

[Dietrichw]

25 minutes ago, MoonSpot said:

Please don't tell me you believed that.  You just took the word of a miner (who has a vested interest) because its what you wanted to hear.  Thats like eating up whatever BS a used car salesmen tells you. 

Even if "many" miners were underclocking, there are many that wouldn't but would cranck that shit as much as possible and just want to pass the buck on to a sucker, especially those that weren't paying for the electrcity.

Here is what I do know for sure though; everyone of them selling will either tell you they weren't being used for mining, and/or that they're the "good guys" that were mining responsibly.

The only thing you can do is assume they're all lying out of their ass.

 

Try to be skeptical.

I'm not much of a miner since it is off and on with my main rig, no investment.

Always be careful and see how many cards someone has listed to see if they are being truthful. My 290 didn't say it was used for mining but it was obvious when the seller has more than 10 of them. Polaris is much cooler than Hawaii so even overclocked I wouldn't be worried unless it was a blower cooler. 

[FearlessSwami29]

[AndreLebrao]

29 minutes ago, TetraSky said:

About time... I've been wanting to buy a new computer for a while now, but how can I when I can't even get a god damn GPU.

Check this out

[Bundle] MSI RX 570 4GB + SSD 256GB - $350 (In Stock)
https://www.reddit.com/r/buildapcsales/comments/6mot1p/bundle_msi_rx_570_4gb_ssd_256gb_350_in_stock/

[vanished]

2 hours ago, JoaoPRSousa said:

 

You probably spent half that buying it new... Good job /s 

I don't get it... how is selling it for double what he paid bad?

[JoaoPRSousa]

2 minutes ago, Ryan_Vickers said:

I don't get it... how is selling it for double what he paid bad?

 

It isn't bad, it's just that I don't find it fair...

[vanished]

Just now, JoaoPRSousa said:

 

It isn't bad, it's just that I don't find it fair...

lol it's completely fair, it's literally called a "fair market value"  

 

Can't blame people for selling things at what people are willing to pay.  If you're gonna be mad, be mad at the people willing to pay that ridiculous price, since they're the ones showing that that's the price people should be selling at.

[JoaoPRSousa]

1 minute ago, Ryan_Vickers said:

lol it's completely fair, it's literally called a "fair market value"  

 

Can't blame people for selling things at what people are willing to pay.  If you're gonna be mad, be mad at the people willing to pay that ridiculous price, since they're the ones showing that that's the price people should be selling at.

 

Still, people that are looking to buy an RX480 (or something like that) are forced to pay more because some dude decided to sell his GPU for more because "mining".

[arnavvr]

2 minutes ago, Ryan_Vickers said:

lol it's completely fair, it's literally called a "fair market value"  

 

Can't blame people for selling things at what people are willing to pay.  If you're gonna be mad, be mad at the people willing to pay that ridiculous price, since they're the ones showing that that's the price people should be selling at.

Exactly this. I was able to upgrade from a GTX 1070 to a GTX 1080 for $20.

[vanished]

Just now, JoaoPRSousa said:

 

Still, people that are looking to buy an RX480 (or something like that) are forced to pay more because some dude decided to sell his GPU for more because "mining".

No one's forced to pay that though, if people just collectively say "no, that's too much", the price will come down because they won't sell.  The price is the way it is because people are willing to pay that.  It's the same reason randomware still exists, and the reason buying up all of something (tickets to an event, new PC part, etc.) and then reselling them brand new at a higher price happens - someone is willing to pay.

[koji]

I just sold my RX 580 yesterday while the price is on the roof.

 

I'll purchase one again maybe in a week.  

[goodtofufriday]

9 minutes ago, Ryan_Vickers said:

No one's forced to pay that though, if people just collectively say "no, that's too much", the price will come down because they won't sell.  The price is the way it is because people are willing to pay that.  It's the same reason randomware still exists, and the reason buying up all of something (tickets to an event, new PC part, etc.) and then reselling them brand new at a higher price happens - someone is willing to pay.

My personal favorite: the reason apts are 6k for a tiny studio in manhattan. Those units have what are called fair market rent

[vanished]

Just now, goodtofufriday said:

My personal favorite: the reason apts are 6k for a tiny studio in manhattan. Those units have what are called fair market rent

yes lol

Problems come in when you have two or more very different populations vying over the same product, it becomes very possible for one group to set a value the other would never pay, such as right now with the hardcore miners vs sane people, and in Vancouver with foreign buyers vs people who actually live there, etc. (I assume your example is similar)

[corsairian]

3 hours ago, GatioH said:

Hah! I just sold my rx480 last night for $390!

Wow. That's about what I sold my 1070 for a couple months back 

[flibberdipper]

pleaseberealpleaseberealpleasebereal

 

I need me a 1060 sooooo badly now.

[CoolMarquis97]

Does this mean I can get a 1070 now? 

[tom_w141]

3 hours ago, GamingMemeKing said:

I am personally not worried.

 

As a new Ethereum miner, i knew ETH was going to go down fairly soon due to the extreme increase. It is called a correction. It will certainly go back up though. Ethereum mining will still be around for another 4 months at least.

 

However, the decrease in value is the main thing. At the moment, i am still making a small profit with the crash and my rig isn't even complete yet. What you have to realise, ALL cryptocurrencies have fallen, not just Ethereum.

 

If it was JUST Ethereum, then i would be worried. I can see the currency stabilising back to $300+ in August after the big Bitcoin announcement (Depending on the announcement, obviously).

ETH will recover value but its difficulty will only go up. Soon it will become inefficient for mining on current GPUs. This doesn't stop the whole trend though... ZEC for example is fine. But if ETH dies then at least that's a lot of the AMD cards back to normal price.

[TrigrH]

4 hours ago, Zodiark1593 said:

Well, my board can do Crossfire I suppose. Maybe if GPUs end up being $120 or lower, I might snag two and a new PSU. Blender Cycles had (quite recently) started using OpenCL (minus a couple features vs CUDA), so two Radeon cards should be quite fast. 

H chipsets cant divide the CPU lanes though

 

https://en.wikipedia.org/wiki/LGA_1150#Second_generation

[Okjoek]

Good.

[Phate.exe]

4 hours ago, Kevo05s said:

As someone who doesn't mine, but does PC mods for a hobby, I can't wait to get these miner's cards for cheap on ebay! 

Yup, looking forward to watercooling a cheap Polaris 10 card for funsies.  Don't even intend to overclock the thing.

[Jito463]

I wonder if I could still cash in on the craze, and sell my R9 390.......

3 hours ago, MEC-777 said:

Brain fart. You're correct.  

Ewwwwww!  Someone open a window!  Or at least spray some air freshener. 

 

 

 

 

 

 

[Energycore]

3 hours ago, AndreLebrao said:

If ethereum mining will still be around for 4 months or so, this means that gpu prices will remaing sky high for all this period?

I don't think so. People who're already mining will continue to mine, but as Eth and other currencies are at low values and high difficulties that will deter would-be buyers from setting up new mining rigs. So GPU supply should become a bit better in the coming month or two. That said it might not come back to full normal.

[yian88]

eh bought a used 970 for 150$ a month ago dont care for 2-3 years...

[Rune]

Demand for GPUs at work hasn't slowed down any. Think this may be a sign of what is to come, versus what is here right now.

[scottyseng]

4 hours ago, maartendc said:

So I have a 980Ti... has this card been inflated due to mining as well? Or was it not a desirable card? I could sell it for maybe $400 and buy a GTX 1070 when they are dumped for cheap in a couple of days / weeks?

 

Or should I just hold on to it?

I don't think 980 Ti prices really changed much. They did sell out kind of from people buying them all (Due to the 1070s costing too much).

 

Depending on how much of a overclock your 980 Ti gets, you might actually see reduced performance (Very little though...they're neck and neck for gaming...but in rendering, the 980 Ti wins hands down) if you get a 1070. I had two 1070s, OC'd to 2.1 GHz, and they both lose to my 980 Ti (1.5 GHz). The 980 Ti runs hotter though.

 

I'm just happy I managed to sell off my 1070s for $475 on ebay.

 

I don't think this is the end of mining though...I have a feeling it's going to go back up. Or at least it'll be around for 2-3 months still.

[TheUzu]

Segwit is a coming.

 

Basically there is a disagreement of sorts between the people who run the mining pools and the bitcoin core community that could lead to a split.

 

1st August is judgment day which decides if the spits a happening.

 

And as all cryptos are linked to Bitcoin for now when their is uncertainty with BTC the rest go to hell too.