I hate Cryptocurrency!

[pcnoob27]

In my country the budget gpu's like rx 560 got affected by the mining hype too, its now hard to make a decent 500$ pc build....

Great.....

[Oshino Shinobu]

[Ashiella]

....okay? Thanks for sharing, i guess?

[Holyghost23]

miner here.. stop hating us.. hate retail.. also when you get a gpu.. start mining with it to make money back..

[EG!]

3 minutes ago, pcnoob27 said:

In my country the budget gpu's like rx 560 got affected by the mining hype too, its now hard to make a decent 500$ pc build....

Great.....

Older GPU's are worse for mining so those prices should be better and they are used so they are cheaper too

3 minutes ago, Holyghost23 said:

miner here.. stop hating us.. hate retail.. also when you get a gpu.. start mining with it to make money back..

If you calculate the cost of power consumption is it really still profitable?

[Holyghost23]

7 minutes ago, EG! said:

Older GPU's are worse for mining so those prices should be better and they are used so they are cheaper too

If you calculate the cost of power consumption is it really still profitable?

.. yes i pay 12cents a kwh.. and i make about $13 us a day per gpu . costs me about 1.50 a day in power per gpu.. in the 2 months with a single vega 56 i made double what it cost me to buy the gpu. gamers are butthurt.. its a lot of money. if it didnt profit people wouldnt do it.. i bought a house with crypto.. but ive been a miner since 2013..

[BluJay614]

8 minutes ago, Holyghost23 said:

miner here.. stop hating us.. hate retail.. also when you get a gpu.. start mining with it to make money back..

Okay, not everyone is comfortable with mining, not to mention that there are a lot of people who do not like cryptocurrency. I hate that people like me (straight, white, blonde haired, blue eyed, cis-gendered guy) gets so much hate just for things I don't really have control over(my ethnicity, my hair color, my eye color, my fairly pale skin, being a guy). Miners do have a share in part of the issue, as do the retailers and possibly the fabs making the gpus and the cards themselves. There are miners out there who will buy cards in droves and soak up all the stock. Fabs may not be able to handle the demand, even at max production, and it takes years and billions to increase production capacity. Retailers are stuck as a middle man with not getting the supply to meet their demand. Thanks to economics, this is then turned around by inflated prices due to high demand and low supply.

[BluJay614]

6 minutes ago, Holyghost23 said:

.. yes i pay 12cents a kwh.. and i make about $13 us a day per gpu . costs me about 1.50 a day in power per gpu.. in the 2 months with a single vega 56 i made double what it cost me to buy the gpu. gamers are butthurt.. its a lot of money. if it didnt profit people wouldnt do it.. i bought a house with crypto.. but ive been a miner since 2013..

Gamers are caught up in a mix of supply and demand by getting caught in the crossfire(no pun intended). I don't blame them for being upset. Like stated before, not everyone is comfortable with doing it. It's an unstable market with a lot of competition. Also, it's not as profitable for everyone, as some people do pay ALOT more for their electricity.

[Holyghost23]

3 minutes ago, BluJay614 said:

Okay, not everyone is comfortable with mining, not to mention that there are a lot of people who do not like cryptocurrency. I hate that people like me (straight, white, blonde haired, blue eyed, cis-gendered guy) gets so much hate just for things I don't really have control over(my ethnicity, my hair color, my eye color, my fairly pale skin, being a guy). Miners do have a share in part of the issue, as do the retailers and possibly the fabs making the gpus and the cards themselves. There are miners out there who will buy cards in droves and soak up all the stock. Fabs may not be able to handle the demand, even at max production, and it takes years and billions to increase production capacity. Retailers are stuck as a middle man with not getting the supply to meet their demand. Thanks to economics, this is then turned around by inflated prices due to high demand and low supply.

is it my fault people are not comfortable with making money for free... look i hated it too.. but then the profits happened...

[BluJay614]

Just now, Holyghost23 said:

is it my fault people are not comfortable with making money for free... look i hated it too.. but then the profits happened...

It's not profitable for everyone. NO ONE IS TRYING TO BLAME YOU SPECIFICALLY. The fact of the matter is that there is people in your community who are part of a problem.

[Holyghost23]

3 minutes ago, BluJay614 said:

It's not profitable for everyone. NO ONE IS TRYING TO BLAME YOU SPECIFICALLY. The fact of the matter is that there is people in your community who are part of a problem.

if its not profitable for you, your doing it wrong. there are so many alt coins and market flux, that its damn near impossible to not make a profit.. even if the profit is a few cents over cost of production.. the problem isnt miners like myself even with my 12 gpus.. the problem is with huge companies buying out entire shipments of gpus.. i have business licence so i can bypass retail garbage markup like newegg.. and i find its fortune 500 companies buying them out. who know maybe even the gpu manufacturers are hording in themselves..

[BluJay614]

15 minutes ago, Holyghost23 said:

if its not profitable for you, your doing it wrong. there are so many alt coins and market flux, that its damn near impossible to not make a profit.. even if the profit is a few cents over cost of production.. the problem isnt miners like myself even with my 12 gpus.. the problem is with huge companies buying out entire shipments of gpus.. i have business licence so i can bypass retail garbage markup like newegg.. and i find its fortune 500 companies buying them out. who know maybe even the gpu manufacturers are hording in themselves..

Would it be as profitable if what you where spending was tripled? Your profile says you live N of the 60-degree line in Canada. You said you spend 12 cents per kilowatt hour. 12 cents CAD is roughly equal to 9 cents USD. That is less then the national average here in the US as of October 2017. In places like Hawaii, for residential electicity, where there is already people working 3-5 jobs just to be able to scrape by, and there is a state of emergency declared due to how bad the homelessness rate is, they are paying on average 29.29 cents USD per KWh just for residential. Take your profits and cut it down to size, and tell me that these people are "doing it wrong". Maybe you need to take a good long hard look at that attitude and learn how to fix it, rather then looking down your nose at anyone who isn't doing exactly what you think is right.

https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a

[miagisan]

1 minute ago, BluJay614 said:

Would it be as profitable if what you where spending was tripled? Your profile says you live N of the 60-degree line in Canada. You said you spend 12 cents per kilowatt hour. 12 cents CAD is roughly equal to 9 cents USD. That is less then the national average here in the US as of October 2017. In places like Hawaii, for residential electicity, where there is already people working 3-5 jobs just to be able to scrape by, and there is a state of emergency declared due to how bad the homelessness rate is, they are paying on average 29.29 cents USD per KWh just for residential. Take your profits and cut it down to size, and tell me that these people are "doing it wrong". Maybe you need to take a good long hard look at that attitude and learn how to fix it, rather then looking down your nose at anyone who isn't doing exactly what you think is right.

https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a

Exactly. I am finding that miners are turning into self entitled brats. They live in their own bubble. 

[Devon_Pearce]

I gotta say it was nice to get a miners perspective on this thread.

[System Error Message]

blame retail, i've watched pricing for years. You see high prices because theres no stock and there are sellers who price high from the start and thats what you're seeing. Because of them they encourage others to price high. I posted evidence of that from 2011 in the forums somewhere.

 

Mining is a good thing, governments get too taxing and steal money from the people, cryptocurrency is the only way those poor countries can get out of their government's hell. Dont blame miners, blame humans and their greed instead.

[miagisan]

1 minute ago, System Error Message said:

blame retail, i've watched pricing for years. You see high prices because theres no stock and there are sellers who price high from the start and thats what you're seeing. Because of them they encourage others to price high. I posted evidence of that from 2011 in the forums somewhere.

 

Mining is a good thing, governments get too taxing and steal money from the people, cryptocurrency is the only way those poor countries can get out of their government's hell. Dont blame miners, blame humans and their greed instead.

Until they tax bitcoin and the like. Taxes are a necessary evil. 

 

And you telling me that the current prices aren't due to demand? 

[System Error Message]

Just now, miagisan said:

Until they tax bitcoin and the like. Taxes are a necessary evil. 

 

And you telling me that the current prices aren't due to demand? 

that is correct, demand finishes the supply and the only ones left are the supplies that have been overpriced from the start. Been seeing such ridiculous pricing around for years. They only climb to the surface when supply is out and these guys know that for any particular given computer item, the supply will stop and there will always be some demand for them even if outdated. So when they're the only ones available its hard for people to say no to their price. This is different from a necessity like food.

 

Because of this pricing, others follow thinking they can cash in on the scheme too so it spreads.

[miagisan]

1 minute ago, System Error Message said:

that is correct, demand finishes the supply and the only ones left are the supplies that have been overpriced from the start. Been seeing such ridiculous pricing around for years. They only climb to the surface when supply is out and these guys know that for any particular given computer item, the supply will stop and there will always be some demand for them even if outdated. So when they're the only ones available its hard for people to say no to their price. This is different from a necessity like food.

 

Because of this pricing, others follow thinking they can cash in on the scheme too so it spreads.

That is pretty much the definition of supply and demand.

[System Error Message]

3 minutes ago, miagisan said:

That is pretty much the definition of supply and demand.

The pricing was not done due to demand, it was already there while supply was plenty. For example on almost any product, go to places like amazon and you can find sellers that are well priced, sellers a little more expensive, and sellers that are superbly expensive (like a $200 GPU for $1000 long before mining was a thing on GPUs)

[miagisan]

1 minute ago, System Error Message said:

The pricing was not done due to demand, it was already there while supply was plenty. For example on almost any product, go to places like amazon and you can find sellers that are well priced, sellers a little more expensive, and sellers that are superbly expensive (like a $200 GPU for $1000 long before mining was a thing on GPUs)

Yes that is a common tactic. But no idiot buys those. Say a guy has 0 or 1 gpu left, he will artificially set the price rediculously high as a placeholder so he can keep his listing on Amazon. Knowing full well he isn't going to spend it. Noone buys it. When he gets restocked he drops the price again. It's a placeholder tactic, the seller isn't planning on selling it. 

[remo]

3 hours ago, Holyghost23 said:

miner here.. stop hating us.. hate retail.. also when you get a gpu.. start mining with it to make money back..

in miners we trust

 

[SansVarnic]

This type of commentary is best suited as a status update than forum topic of discussion. 

 

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