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cryptocurrency price crash

Shreyas1
By Shreyas1
in Tech News
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BITCOIN, Bitcoin Cash, Ethereum, Ripple, Litecoin have dropped by more than 11 per cent in a single day which is at least a 20 per cent drop since last week, it has been revealed.

 

oof.

 

Etherum ATM sits at $364

 

Bitcoin sits at around $6500

 

Quote

Rumors of a new ASIC mining rig from Bitmain have driven Ethereum prices well below their one-week high of $585

So this has to do with the ASIC news then, but that doesnt explain bitcoin or the other cryptocurrencies

 

At any rate, be sure to look for lots of graphics card deals on eBay / Craigslist

 

I think that this is good for people who have been waiting to get into PC gaming

 

but i feel sort of sad for all the miners

 

 

https://coinmarketcap.com/currencies/ethereum/

 

https://techcrunch.com/2018/03/27/ethereum-has-the-asic-blues/amp/

 

https://www.express.co.uk/finance/city/939193/Cryptocurrency-price-bitcoin-ethereum-ripple-litecoin-cryptocurrency-news

 

 

 

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I saw this a couple days ago, I'll try to find the story but basically there is a lot of support in the Eth community for a fork to stop the ASICs from taking over.

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3 minutes ago, Shreyas1 said:

but i feel sort of sad for all the miners

Nahh...

 

Unless it's your "average joe" miner who uses his gpu in his gaming rig to mine whilst not gaming on it, no sympathy towards them tbh.

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If the Etheruem devs were smart they would do what cryptonight is doing and simply update to combat ASICs. If bitmain does have an eth ASIC I blame them 90% for the crash of prices. They did the same with cryptonight

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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I won't exactly feel sad for miners. They should have been aware of the risks and volatility of the market before they started mining anyways. Anyways, eth and monero are supposedly forking to become more asic resistant so gpu will still be in demand 

print "Hello World!" ("Hello World!")

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One interesting thing to look at is total hashrate.

 

When this goes down, less gpu's are less profitable and they shut down there rigs as power was more than earning or its better to get the gpu money by selling it that trying to mine.

 

https://etherscan.io/chart/hashrate

 

Its seems to about steady in the last little bit, showing not many new miners, or amount of new miners is about the same as ones who left.

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So is it time to get ready for slews of interested parties commenting how buying used mining GPUs is 'safe' and how every single last miner on earth was under-volting and optimizing efficiency?  Cause in this 'unique' case people don't crank shit upto 11 to rake in as much as possible while they can while time is running out, but instead actually care about the condition of the cards they're offloading b/c money suddenly doesn't mean as much to them as when they started their venture.

 

*rubs temples*

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YAY gpu prices will go back to normal now :D

There are 10 types of people in this world. Those that understand binary and those that don't.

Current Rig (Dominator II): 8GB Corsair Vengeance LPX DDR4 3133 C15, AMD Ryzen 3 1200 at 4GHz, Coolermaster MasterLiquid Lite 120, ASRock B450M Pro4, AMD R9 280X, 120GB TCSunBow SSD, 3TB Seagate ST3000DM001-9YN166 HSD, Corsair CX750M Grey Label, Windows 10 Pro, 2x CoolerMaster MasterFan Pro 120, Thermaltake Versa H18 Tempered Glass.

 

Previous Rig (Black Magic): 8GB DDR3 1600, AMD FX6300 OC'd to 4.5GHz, Zalman CNPS5X Performa, Asus M5A78L-M PLUS /USB3, GTX 950 SC (former, it blew my PCIe lane so now on mobo graphics which is Radeon HD 3000 Series), 1TB Samsung Spinpoint F3 7200RPM HDD, 3TB Seagate ST3000DM001-9YN166 HDD (secondary), Corsair CX750M, Windows 8.1 Pro, 2x 120mm Red LED fans, Deepcool SMARTER case

 

My secondary rig (The Oldie): 4GB DDR2 800, Intel Core 2 Duo E8400 @ 3GHz, Stock Dell Cooler, Foxconn 0RY007, AMD Radeon HD 5450, 250GB Samsung Spinpoint 7200RPM HDD, Antec HCG 400M 400W Semi Modular PSU, Windows 8.1 Pro, 80mm Cooler Master fan, Dell Inspiron 530 Case modded for better cable management. UPDATE: SPECS UPGRADED DUE TO CASEMOD, 8GB DDR2 800, AMD Phenom X4 9650, Zalman CNPS5X Performa, Biostar GF8200C M2+, AMD Radeon HD 7450 GDDR5 edition, Samsung Spinpoint 250GB 7200RPM HDD, Antec HCG 400M 400W Semi Modular PSU, Windows 8.1 Pro, 80mm Cooler Master fan, Dell Inspiron 530 Case modded for better cable management and support for non Dell boards.

 

Retired/Dead Rigs: The OG (retired) (First ever PC I used at 3 years old back in 2005) Current Specs: 2GB DDR2, Pentium M 770 @ 2.13GHz, 60GB IDE laptop HDD, ZorinOS 12 Ultimate x86. Originally 512mb DDR2, Pentium M 740 @ 1.73GHzm 60GB IDE laptop HDD and single boot XP Pro. The Craptop (dead), 2gb DDR3, Celeron n2840 @ 2.1GHz, 50GB eMMC chip, Windows 10 Pro. Nightrider (dead and cannibalized for Dominator II): Ryzen 3 1200, Gigabyte A320M HD2, 8GB DDR4, XFX Ghost Core Radeon HD 7770, 1TB Samsung Spinpoint F3 (2010), 3TB Seagate Barracuda, Corsair CX750M Green, Deepcool SMARTER, Windows 10 Home.

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Posted
Just now, BuckGup said:

If the Etheruem devs were smart they would do what cryptonight is doing and simply update to combat ASICs. If bitmain does have an eth ASIC I blame them 90% for the crash of prices. They did the same with cryptonight

Well the bitmains ethereum asic isn't anything special. 4500 dollars for 220mhs. It is basically a 7 rx 580 rig. 7x31=217Mh/s. If we say that rx 580 price is 500(you can find them even cheaper nowadays) then 7*500=3500. Add a mobo ram etc +200= 3700. So the ethereum asic is worse price to performance than a similar rig.

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5 minutes ago, Some Random Member said:

Well the bitmains ethereum asic isn't anything special. 4500 dollars for 220mhs. It is basically a 7 rx 580 rig. 7x31=217Mh/s. If we say that rx 580 price is 500(you can find them even cheaper nowadays) then 7*500=3500. Add a mobo ram etc +200= 3700. So the ethereum asic is worse price to performance than a similar rig.

But size, power usage, and time are all factors worth more to someone setting up a warehouse. Instead of plugging in thousands of PCIE risers and mounting GPUs, they can just connect an ethernet cord and power cord and be done

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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̌̅̒̾̈́̆͌̌̾̎̽̐̅̏́̈̔͛̀̋̃͊̒̓͗͒̑͒̃͂̌̄̇̑̇͛̆̾͛̒̇̍̒̓̀̈́̄̐͂̍͊͗̎̔͌͛̂̏̉̊̎͗͊͒̂̈̽̊́̔̊̃͑̈́̑̌̋̓̅̔́́͒̄̈́̈̂͐̈̅̈̓͌̓͊́̆͌̉͐̊̉͛̓̏̓̅̈́͂̉̒̇̉̆̀̍̄̇͆͛̏̉̑̃̓͂́͋̃̆̒͋̓͊̄́̓̕̕̕̚͘͘͘̚̕̚͘̕̕͜͜͝͝͝͠͝͝͝͝͠ͅS̷̢̨̧̢̡̨̢̨̢̨̧̧̨̧͚̱̪͇̱̮̪̮̦̝͖̜͙̘̪̘̟̱͇͎̻̪͚̩͍̠̹̮͚̦̝̤͖̙͔͚̙̺̩̥̻͈̺̦͕͈̹̳̖͓̜͚̜̭͉͇͖̟͔͕̹̯̬͍̱̫̮͓̙͇̗̙̼͚̪͇̦̗̜̼̠͈̩̠͉͉̘̱̯̪̟͕̘͖̝͇̼͕̳̻̜͖̜͇̣̠̹̬̗̝͓̖͚̺̫͛̉̅̐̕͘͜͜͜͜ͅͅͅ.̶̨̢̢̨̢̨̢̛̻͙̜̼̮̝̙̣̘̗̪̜̬̳̫̙̮̣̹̥̲̥͇͈̮̟͉̰̮̪̲̗̳̰̫̙͍̦̘̠̗̥̮̹̤̼̼̩͕͉͕͇͙̯̫̩̦̟̦̹͈͔̱̝͈̤͓̻̟̮̱͖̟̹̝͉̰͊̓̏̇͂̅̀̌͑̿͆̿̿͗̽̌̈́̉̂̀̒̊̿͆̃̄͑͆̃̇͒̀͐̍̅̃̍̈́̃̕͘͜͜͝͠͠z̴̢̢̡̧̢̢̧̢̨̡̨̛̛̛̛̛̛̛̛̲͚̠̜̮̠̜̞̤̺͈̘͍̻̫͖̣̥̗̙̳͓͙̫̫͖͍͇̬̲̳̭̘̮̤̬̖̼͎̬̯̼̮͔̭̠͎͓̼̖̟͈͓̦̩̦̳̙̮̗̮̩͙͓̮̰̜͎̺̞̝̪͎̯̜͈͇̪̙͎̩͖̭̟͎̲̩͔͓͈͌́̿͐̍̓͗͑̒̈́̎͂̋͂̀͂̑͂͊͆̍͛̄̃͌͗̌́̈̊́́̅͗̉͛͌͋̂̋̇̅̔̇͊͑͆̐̇͊͋̄̈́͆̍̋̏͑̓̈́̏̀͒̂̔̄̅̇̌̀̈́̿̽̋͐̾̆͆͆̈̌̿̈́̎͌̊̓̒͐̾̇̈́̍͛̅͌̽́̏͆̉́̉̓̅́͂͛̄̆͌̈́̇͐̒̿̾͌͊͗̀͑̃̊̓̈̈́̊͒̒̏̿́͑̄̑͋̀̽̀̔̀̎̄͑̌̔́̉̐͛̓̐̅́̒̎̈͆̀̍̾̀͂̄̈́̈́̈́̑̏̈́̐̽̐́̏̂̐̔̓̉̈́͂̕̚̕͘͘̚͘̚̕̚̚̚͘̕̕̕͜͜͝͠͠͝͝͝͝͠͝͝͝͠͝͝͝͝͝͝ͅͅͅī̸̧̧̧̡̨̨̢̨̛̛̘͓̼̰̰̮̗̰͚̙̥̣͍̦̺͈̣̻͇̱͔̰͈͓͖͈̻̲̫̪̲͈̜̲̬̖̻̰̦̰͙̤̘̝̦̟͈̭̱̮̠͍̖̲͉̫͔͖͔͈̻̖̝͎̖͕͔̣͈̤̗̱̀̅̃̈́͌̿̏͋̊̇̂̀̀̒̉̄̈́͋͌̽́̈́̓̑̈̀̍͗͜͜͠͠ͅp̴̢̢̧̨̡̡̨̢̨̢̢̢̨̡̛̛͕̩͕̟̫̝͈̖̟̣̲̖̭̙͇̟̗͖͎̹͇̘̰̗̝̹̤̺͉͎̙̝̟͙͚̦͚͖̜̫̰͖̼̤̥̤̹̖͉͚̺̥̮̮̫͖͍̼̰̭̤̲͔̩̯̣͖̻͇̞̳̬͉̣̖̥̣͓̤͔̪̙͎̰̬͚̣̭̞̬͎̼͉͓̮͙͕̗̦̞̥̮̘̻͎̭̼͚͎͈͇̥̗͖̫̮̤̦͙̭͎̝͖̣̰̱̩͎̩͎̘͇̟̠̱̬͈̗͍̦̘̱̰̤̱̘̫̫̮̥͕͉̥̜̯͖̖͍̮̼̲͓̤̮͈̤͓̭̝̟̲̲̳̟̠͉̙̻͕͙̞͔̖͈̱̞͓͔̬̮͎̙̭͎̩̟̖͚̆͐̅͆̿͐̄̓̀̇̂̊̃̂̄̊̀͐̍̌̅͌̆͊̆̓́̄́̃̆͗͊́̓̀͑͐̐̇͐̍́̓̈́̓̑̈̈́̽͂́̑͒͐͋̊͊̇̇̆̑̃̈́̎͛̎̓͊͛̐̾́̀͌̐̈́͛̃̂̈̿̽̇̋̍͒̍͗̈͘̚̚͘̚͘͘͜͜͜͜͜͜͠͠͝͝ͅͅͅ☻♥■∞{╚mYÄÜXτ╕○\╚Θº£¥ΘBM@Q05♠{{↨↨▬§¶‼↕◄►☼1♦  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Posted

RX 580s!!!!!!!

Laptop: 2019 16" MacBook Pro i7, 512GB, 5300M 4GB, 16GB DDR4 | Phone: iPhone 13 Pro Max 128GB | Wearables: Apple Watch SE | Car: 2007 Ford Taurus SE | CPU: R7 5700X | Mobo: ASRock B450M Pro4 | RAM: 32GB 3200 | GPU: ASRock RX 5700 8GB | Case: Apple PowerMac G5 | OS: Win 11 | Storage: 1TB Crucial P3 NVME SSD, 1TB PNY CS900, & 4TB WD Blue HDD | PSU: Be Quiet! Pure Power 11 600W | Display: LG 27GL83A-B 1440p @ 144Hz, Dell S2719DGF 1440p @144Hz | Cooling: Wraith Prism | Keyboard: G610 Orion Cherry MX Brown | Mouse: G305 | Audio: Audio Technica ATH-M50X & Blue Snowball | Server: 2018 Core i3 Mac mini, 128GB SSD, Intel UHD 630, 16GB DDR4 | Storage: OWC Mercury Elite Pro Quad (6TB WD Blue HDD, 12TB Seagate Barracuda, 1TB Crucial SSD, 2TB Seagate Barracuda HDD)
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I can only hope it crashes even further this Bitcoin fad has gone on long enough and needs to be sufficated with a pillow till death.

CPU: 6700K Case: Corsair Air 740 CPU Cooler: H110i GTX Storage: 2x250gb SSD 960gb SSD PSU: Corsair 1200watt GPU: EVGA 1080ti FTW3 RAM: 16gb DDR4 

Other Stuffs: Red sleeved cables, White LED lighting 2 noctua fans on cpu cooler and Be Quiet PWM fans on case.

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Thought this was like, Wall Street crash tier.

 

This is nothing. It's happened before and It'll be back up in a bit.

Our Grace. The Feathered One. He shows us the way. His bob is majestic and shows us the path. Follow unto his guidance and His example. He knows the one true path. Our Saviour. Our Grace. Our Father Birb has taught us with His humble heart and gentle wing the way of the bob. Let us show Him our reverence and follow in His example. The True Path of the Feathered One. ~ Dimboble-dubabob III

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6 minutes ago, DildorTheDecent said:

Thought this was like, Wall Street crash tier.

 

This is nothing. It's happened before and It'll be back up in a bit.

Well Etherium was $1300 back a couple months ago and it is currently 350-400 so its surely taken quite the tumble from its mining craze days

https://linustechtips.com/main/topic/631048-psu-tier-list-updated/ Tier Breakdown (My understanding)--1 Godly, 2 Great, 3 Good, 4 Average, 5 Meh, 6 Bad, 7 Awful

 

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8 minutes ago, Orangeator said:

When will all the crypto currencies just completely crash and never return? Hehe.

When investors completely give up on the prospect. The only reason why it's so valuable is because somewhere out there, someone is willing to pay the price.

I have a blog! And a list of guides I've posted

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1 hour ago, MoonSpot said:

So is it time to get ready for slews of interested parties commenting how buying used mining GPUs is 'safe' and how every single last miner on earth was under-volting and optimizing efficiency?  Cause in this 'unique' case people don't crank shit upto 11 to rack in as much as possible while they can while time is running out, but instead actually care about the condition of the cards they're offloading b/c money suddenly doesn't mean as much to them as when they started their venture.

 

*rubs temples*

you might not know this but there is a reason why people say most miners undervolt their cards, because they do, as the most profitable coins dont actually need a fast core, they are bottlenecked by the memory and other things so having the core overclocked only increases power which miners dont like 

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How long do you think it will take for GPUs to go close to MSRP  price again?  I haven't been following the mining and have only been reading about in the past month or so 1070s go for around £500 and 6g 1060s are about £350 now how far off are these off the price before it all started? as i wasn't sure how much money i'd actually lose if i got one.

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2 hours ago, MadyTehWolfie said:

I can only hope it crashes even further this Bitcoin fad has gone on long enough and needs to be sufficated with a pillow till death.

It's never going to die. You know there's 4 nerds in a lan somewhere that are going to keep it going even if it did.

 

Also, 'member how the internet was a fad?

2 hours ago, Orangeator said:

When will all the crypto currencies just completely crash and never return? Hehe.

Never. Most of our money is already digital and in fact significantly less secure then cryptocurrencies.

 

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1 hour ago, Jack_of_all_Trades said:

AMD was right to not increase production, don't know if the green wankers did tho.

The thing is, nvidia can perfectly well sell all the used cards AND drop a new generation to make even more money. AMD can't. So AMD did good in refraining from increasing gpu production, yes, but the market will sooner or later get floded with rx580's and rx vega's by thousands and AMD doesn't have anything interesting for us to buy. Navi is still 1 or maybe even 2 years away.

 

Though I don't think AMD will be affected as badly as last time. I think a lot of people are actually interested in Rx vega or rx580 and may buy those over a cheaper nvidia. Especially the amd crowd, who have been trying to get vega for months but couldn't.

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Huh, is it possible to short

cryptos? :P

 

Someone would buy it 

That's an F in the profile pic

 

 

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Well good thing i sold my ETH at 1200$ ;)

AMD Ryzen R7 1700 (3.8ghz) w/ NH-D14, EVGA RTX 2080 XC (stock), 4*4GB DDR4 3000MT/s RAM, Gigabyte AB350-Gaming-3 MB, CX750M PSU, 1.5TB SDD + 7TB HDD, Phanteks enthoo pro case

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3 hours ago, Jack_of_all_Trades said:

I'm just sitting here watching my local ebay equivalent getting filled up with miner rigs, and I ponder and wait to see if someone is gonna buy those cards from them for the crazy overpriced amount the sellers desire. AMD was right to not increase production, don't know if the green wankers did tho.

Neither company really increased production that much. AIBs likely did, but they were constrained by memory prices as well. Odds are Nvidia & AMD just released GPUs to the board partners more quickly, as there was demand from them.

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