Used GPUs hit the market as ETH price drops

[Jito463]

3 hours ago, WereCat said:

Ebay sellers right now:

 

"This is my GPU. There are many like it but this one is mined!"

[Grinners]

3 hours ago, Master Disaster said:

I don't expect you'll believe me but that was a genuine typo, I honestly meant £1.20 not £1.10. I must have hit the 2 key instead of the 1 key.

 

 

The bigger mistake is that you're reading it backwards. 1GBP is 1.30USD, not the other way around. 

[19_blackie_73]

6 hours ago, Master Disaster said:

At this point it pretty much is, damn brexit killing off the pound.

well nice on the other hand to come to visit britain for us europeans

[Carde]

Meh still a shortage in some places, but second hand market might be nice again. I really don't get the hate ex mining cards get have had several without issue and hear much the same from others. Most miners undervolt cards to reduce power consumption and they are in open air cases so kept quite cool. The only possible issue found is fans getting worn out, but even that is minor.

[Energycore]

So I bet a lot of you people are looking to buy a card that was used for mining, here's a piece of advice: generally, mining ETH or Zcash 24/7 won't deteriorate a card's silicon [as much as mining bitcoin did]. The reason is that both for ETH and Zcash overvolting is either impossible (Nvidia), or useless (AMD), and in fact it's not uncommon for Eth mining cards to be run underclocked and undervolted (my RX 480 consumes just 110W at 1200MHz / 1030mV and has the same hashrate as stock). Zcash does benefit from overclocks but Pascal cards can't be overclocked past a point where you'd be worried about how much current is going through the silicon. So buy away and if your card works, it works! But you might have to flash it back to a stock BIOS if the miner isn't conscious to do it before putting it up for sale.

[Energycore]

6 minutes ago, Carde said:

The only possible issue found is fans getting worn out, but even that is minor.

And even that has a solution

Spoiler

[Sakkura]

3 hours ago, Master Disaster said:

Yeah no, in 2016  the £:$ exchange rate reached a high of over £1.50 to $1. As recently as last week it was down below £1.10 to $1 and is only on the up now as forecasters are predicting the UK will have to settle for soft brexit.

 

Exchange rates don't affect local pricing, mostly pricing is set per region by manufacturers so yes, hardware is 1:1 £:$ (as a general rule) but that's because of greedy manufacturers not the exchange rate although recently we've seen a wave of manufacturers increasing prices and blaming the exchange rate, let's see if they lower the prices when the pound gets stronger again.

 

Hint: they won't.

While greed is certainly a thing, you guys seem to be forgetting about tax.

 

Let's take an example in a less volatile product category (since GPU pricing is all over the place). A Core i7-7700K can currently be had for $323.89 in the US. In the UK, you'll have to part with £298.98. That corresponds to $389.03. Greedy manufacturers, arglebargle amirite. Except hold on, that's with 20% VAT. Let's divide by 1.2... then it's $324.19. So the Brits are being overcharged a full 30 cents.

[TOMPPIX]

http://wccftech.com/hacker-7-4-million-ethereum-simple-trick/

a *cough* hacker *cough*

[FakeNSA]

15 minutes ago, Energycore said:

And even that has a solution

  Reveal hidden contents

That is just, beautiful. Totally beautiful. Thank you for sharing!

[Mira Yurizaki]

13 minutes ago, Sakkura said:

While greed is certainly a thing, you guys seem to be forgetting about tax.

 

Let's take an example in a less volatile product category (since GPU pricing is all over the place). A Core i7-7700K can currently be had for $323.89 in the US. In the UK, you'll have to part with £298.98. That corresponds to $389.03. Greedy manufacturers, arglebargle amirite. Except hold on, that's with 20% VAT. Let's divide by 1.2... then it's $324.19. So the Brits are being overcharged a full 30 cents.

And there are places like Brazil where they charge an asinine amount of import tax. Sony sure was greedy charging them the equivalent of something like $700 for the PS4.

[Unimportant]

23 hours ago, M.Yurizaki said:

Weird. It becomes too hard to mine, so it's not worth it anymore. This makes me think the only way it would become valuable is if you metaphorically are printing more money into the system.

Afaik, mining difficulty is directly related to the total amount of processing power of all the miners. The more miners, the harder it gets but it works the other way around too. If ppl give up and stop mining, difficulty goes down again. So if difficulty remains high that has to mean that for a large group of miners, somewhere, it's still worth it.

[Qub3d]

25 minutes ago, Unimportant said:

Afaik, mining difficulty is directly related to the total amount of processing power of all the miners. The more miners, the harder it gets but it works the other way around too. If ppl give up and stop mining, difficulty goes down again. So if difficulty remains high that has to mean that for a large group of miners, somewhere, it's still worth it.

Well, what also happens is the size of the reward blocks periodically drops; so for the same amount of work you get about half the reward.

 

The big number to look at is Dollars per Watt. Below a certain ratio you will be losing money, because the dollars earned per watt is less than dollars spent.

[Sharkyx1]

sold my fury days before the crash. so happy. back to 560ti sli

[kiska3]

We are just seeing a market correction

/s

[kingfurykiller]

13 hours ago, Phate.exe said:

Anyone who knew what they were doing mining with Polaris 10 cards was running a custom bios with lower clockspeeds, way less voltage than stock, and overclocked memory.

 

I think I'd probably rather have an ex-mining card over a secondhand gaming card.

 

Either way, they're gonna be everywhere and I'm going to water cool the thing so who cares if the fans are on their way out.

Does this apply to all chipsets? I have had my eye on a GTX 1070 for awhile.  I don't mind buy used since I'm not going to be overclocking it, but I also don't want it to die in a year.

[Nicnac]

Can't find any good deals in Germany yet. Probably gonna take a few weeks...

[Phate.exe]

Just now, kingfurykiller said:

Does this apply to all chipsets? I have had my eye on a GTX 1070 for awhile.  I don't mind buy used since I'm not going to be overclocking it, but I also don't want it to die in a year.

I tend to follow the AMD side of things, and was going to mine with my 470 before I decided to just sell it instead, so I really have no idea what the prep for mining with a 1070 is.  But ETH likes memory overclocks and doesn't gain nearly as much from cranking the core higher, so I'd guess most mining 1070's are running a similar memory overclock with reduced power targets.

[Misanthrope]

This again?

 

[kingfurykiller]

41 minutes ago, Phate.exe said:

I tend to follow the AMD side of things, and was going to mine with my 470 before I decided to just sell it instead, so I really have no idea what the prep for mining with a 1070 is.  But ETH likes memory overclocks and doesn't gain nearly as much from cranking the core higher, so I'd guess most mining 1070's are running a similar memory overclock with reduced power targets.

Good to know; maybe I'll consider a 480 if I can find one for a deal.

[Ithanul]

56 minutes ago, kingfurykiller said:

Does this apply to all chipsets? I have had my eye on a GTX 1070 for awhile.  I don't mind buy used since I'm not going to be overclocking it, but I also don't want it to die in a year.

Set to 65% TDP, OC memory, call it a day.  Pretty much what I did to my set of 1070s.  Was a great way to expand my F@H rig and make money back. 

[Phate.exe]

9 minutes ago, Ithanul said:

Set to 65% TDP, OC memory, call it a day.  Pretty much what I did to my set of 1070s.  Was a great way to expand my F@H rig and make money back. 

About what I would have guessed.

 

Mining cards probably have easier lives than gaming cards.  ETH just recently got more difficult, so there are going to be people unloading hardware to downscale and make back some money before things tank fully.  I'd venture a guess that within a month or two we'll see things drop to around normal pricing between reduced demand for cards.

 

I'm not in a rush to buy a card at all, since my old machine only needs to host webex's and drive two monitors when my girlfriend is working from home, and my new one is doing well with the Fury.

 

If I had to build a gaming machine today, I'd probably buy something cheap but powerful enough to run the games I want on lower settings, then watch the used market.

 

Before the mining craze and subsequent pricing nightmare, the answer was just "if you have PCIe power cables coming from your PSU, just go buy an RX470.

[Ithanul]

1 minute ago, Phate.exe said:

About what I would have guessed.

 

Mining cards probably have easier lives than gaming cards.  ETH just recently got more difficult, so there are going to be people unloading hardware to downscale and make back some money before things tank fully.  I'd venture a guess that within a month or two we'll see things drop to around normal pricing between reduced demand for cards.

 

I'm not in a rush to buy a card at all, since my old machine only needs to host webex's and drive two monitors when my girlfriend is working from home, and my new one is doing well with the Fury.

 

If I had to build a gaming machine today, I'd probably buy something cheap but powerful enough to run the games I want on lower settings, then watch the used market.

Pretty much, the prices will come down over time just like the previous rally.

 

I'm hoping the newbie miners in my area dump cards for cheap.  Hehe, be nice to grab a cheap RX580 to tinker with.

[Qub3d]

1 hour ago, Nicnac said:

Can't find any good deals in Germany yet. Probably gonna take a few weeks...

 

The reason you haven't seen good deals yet was outlined earlier. TL;DR is that people are going to try to recoup their investment first before dropping price.

23 hours ago, AshleyAshes said:

Well, any kinda flood would still take time.

A bunch of people jumping out of mining at once, the majority will try to get a GOOD price for GPUs, so you won't so much see great prices at fisrt.  But if enough GPUs hit eBay and such at once, there could be more supply than demand and over time those units not selling will creep down in price as sellers get more desperate to cash out their hardware while competing against a lot of other sellers who are also desperate to cash out their hardware.

 

 

[TetraSky]

So as usual, the early adopter for a cryptocurrency got rich when they could and everyone else who got in late is stuck having to resell the hardware they bought to recoup some of their money

[Kyle86GT]

Nothing below MSRP on Ebay for a 580 yet, even my local Microcenter has jacked up pricing still.

Nice to see there is stock on the shelves though. 

 

9 XFX Radeon RX-580's in stock at $449.99 ea.