News Crypto Miners Start Dumping GPUs, RTX 3080s for $523

[-Fran-]

Sellers may be able to post whatever price they want but when that price is higher than buyers are willing to pay, that is called pricing yourself out of the market. When you price yourself out of the market, you make no sales. No sales, no profit and you eventually go out of business.

Sellers who overprice their stuff cannot exist (for long) without buyers willing to pay their prices.

And to add another important thing: selling under cost is illegal when it's not properly justified.

EDIT: https://en.wikipedia.org/wiki/Predatory_pricing

Regards.

 

[Deleted member 14196]

Oh, Im sure a great deal of miners paid 3X MSRP. That's their decision. Their right to be stupid is my right to not be. Yes, I know exactly how supply and demand works. How it works is not important, why it works is what is important. When you understand WHY it works, then ya might just figure out why miners are not responsible for the inflated prices of graphics cards. Ya just gotta put the pieces together. Eating up supply does not cause prices to go up. Even if every retail store on gods green earth is devoid of GPUs, the price does not go up until the seller enters a higher price into the set price field on his own free will when he posts the ad. You can do the math a thousand ways, but at the end of the day, it is a choice, a choice by the seller

This demonstrates that you do not understand how supply and demand works. When supply is tight and demand is high, retailers raise their price because the demand goes up. That’s the way it works you have no idea what you’re talking about. Miners drove the demand way up so sellers are obviously going to sell at higher prices because that’s what the market will bear. If the demand wasn’t so high the prices wouldn’t be so high. Demand was artificially high caused by you and other miners.

This was exacerbated by scalpers as well buying up stock and driving up the price because the demand is so high. Still in all, if the miners weren’t buying so many damn cards then the sellers couldn’t sell them at high prices

Do you think the people selling it are stupid? Their goal is to make the most money that they can make. Same goes for the people who produce the product. They raise their prices out of sight because the demand is so high. And stating that it’s their fault is retarded

The scalpers knew what was going on and they knew that they could sell tons of cards to people mining for retarded crypto so you worked with them to drive the price to insane levels

 

[danny009]

I'm still rocking with my GTX 1060 on RDR2 mid to high settings with a good cooling,

Han Solo shot first yo

 

[Deleted member 14196]

It is their fault. Do you know why it's their fault? The reason it's their fault is because they are the ones who raised the prices. I didn't raise the price. I didn't touch the price. I simply bought the product. Yes, they obviously will sell for higher because they want more money. That's their motive. They chose on their own free will, motivated by money to charge more. That's their decision. I don't blame the miners for other people's decisions.

It is not incumbent upon any demographic of purchasers to base their quantity of choice on what other people are willing to pay for remaining stock. It is now our job to reduce or quantity of purchase so you can don't have to pay 3X MSRP to retire your 1060. To be honest, you don't have to pay anything. We as miners are not forcing you to pay 3X MSRP for a GPU. You are welcome to continue running your 1060. It is a free market, that works on a first come first serve basis. Yes, I know that as a result of the supply and demand principle, sellers will raise their price, motivated by the prospect of making more money. But that is ultimately their choice. I didn't choose that. They are not obligated to raise their prices. They do so by choice.

Miners are not obligated to leave stock on the shelf to protect you against the free will or sellers raising their price. We do not owe you anything. You are not entitled to a certain price. This is a free market. You all sound off like we didn't fulfill our obligations of leaving stock on the shelf for you. Well let me tell you something there champ, it's first come first served. You could have purchased before we did.

It is our right to purchase a product with our own money, just as it is yours. Gamers are crying that miners are at fault for high GPU prices, like we didn't fulfill our obligation of keeping supply high to appease your budget. Sorry buddy, that's not how it works. We didn't raise the prices. The sellers did, motivated by money

Hahaha. You are still in denial. You are part of the problem. Case closed

 

[magbarn]

No its pretty accurate. Majority of mining is ASICS ETH miners, not GPUs. GPUs shortage was driven by supply chain issues related to the pandemic, scalpers that learned from the Nintendo Switch launch that money could be made for tech toys, and the 3080 FE launching at 50% of the previous generation with 2x the performance. The price of ETH was in the hole when 3000 series launched, and the GPUs sold out the instant they went on sale. Once ETH price ballooned the inflated price by the scalpers was maintained longer than other items such as the switch. ALSO you cant mine on a PS5 and those still have issues with stock and scalping. Blaming miners is just low hanging fruit for people to complain about.

Ampere followed the usual pattern of the last 5 years of GPU releases, then usually the market calms down after 3-6 months. Covid might’ve extended it a bit but it’s been hell until just the last 2 months when guess what? Crypto crashing. Also why the sudden spike in Ampere numbers on Steam that coincides with the crash in crypto? Don’t tell me everyone who bought it for gaming waited 2 years to get on steam.

 

[Kzukowski1988]

Hahaha. You are still in denial. You are part of the problem. Case closed

Youre not wrong at all. New cards, especially powerful ones that raise the bar are sold out early on. Same with cars, computers, cell phones, etc. After a few months the stock goes way up and prices go down until the next iteration of tech.

 

[tamalero]

Youre not wrong at all. New cards, especially powerful ones that raise the bar are sold out early on. Same with cars, computers, cell phones, etc. After a few months the stock goes way up and prices go down until the next iteration of tech.

What? No...
Computers? nope..
Cars? What... no!
Cellphones.. maybe if there are insane fanboys salivating for their next 2% better iphone gen and they are ready to sell their kidneys.

The only thing that has seen similar behavior was the infamous sneakers scalping, PS5 too.