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

[KyaraM]

Crypto-miner here for over a year now. For starters, we had NOTHING to do with the influx of GPU prices. We did not cause GPU prices to go up. The sellers of GPUs caused GPU prices to go up, by choosing on their own free will to list their GPUs for sale for 3x MSRP. They didn't have to post them for 3x MSRP. It was well within their right to post them for whatever they wanted to post them for. The sellers could have chosen to post them for MSRP or less. They chose 3x MSRP. It was a choice. We didn't choose it for them. We didn't put a gun to their head and force them to list their price at 3x MSRP. We had nothing to do with that. The sellers chose to sell them high on their own free will. Don't blame us for someone elses free will choices. Secondly, here's a YouTube video that can give you a fairly good idea of how badly our mining operations have destroyed the environment. One more thing, we have already been compensated for the GPU crisis which we had nothing to do with. We have been compensated by great fortunes which our machines give us. There will be more. Dont think...... for even so much as a microsecond......... that the merge is going to put an end to mining. Prices will drop for a while, and in time, a new coin will rise up, the crypto-boom shall be renewed once again, just like it did after the crash of 2018, and then you can go back to choosing on your own free will to pay 3x MSRP for a GPU, if that's what it takes to stay in mommys basement wasting your life away playing fartnite at max settings, 4K 240FPS. Does that sound fair? Excellent, glad we could come to an understanding. .

Imagine not even understanding basic economics even a 5-year-old can grasp, like, oh, supply and demand.

Who do you even try to fool with this crap? Cryptobros bought all the GPUs off the market leaving none to normal people and enabling scalpers, but they aren't at fault for scalper prices? Supply and demand and regular price mechanics (prices go up as supply goes down) don't exist anymore?


And you got nothing to do with environmental destruction? So energy grows on trees now, and producing it does not damage the environment at all? GPUs don't need rare resources mined in 3rd world countries by companies not giving a hoot about what destroying hundreds of square kilometers do, not to speak about what it does to their employees? Are you bloody serious?

And I'm the one who stays "in mommys basement wasting your life away playing fartnite at max settings, 4K 240FPS." How old are you, 12? That's what you sound like. I live on my and earn my own money. In the environmental sector, btw. Gaming is a hobby after doing actual work trying to mitigate your garbage so that maybe future generations can still live on this rock, so don't give me anymore of your garbage.

 

[-Fran-]

Even if governments made crypto illegal, there is nothing illegal about the GPUs themselves. Instead of destroying them, the governments would be much better off seizing GPUs from illegal mining farms and auctioning them off.

The illegal ATVs and bikes got crushed because they got modified to be obnoxiously loud. Since undoing the illegal mods would be expensive and the auction prices would need to be almost as high as new to prevent troublemakers from re-purchasing their toys, crushing them so they cannot even be sold for parts makes sense.

Maybe you could nitpick? Modifying firmware violates the DMCA, no? In the same vein those bikes were modified, if the GPUs trying to be offloaded or sold have been modified in any way that violates the DMCA (or something), then you give them the 'dozer treatment and enjoy the crypto-tears.

Hey, that could work!

Regards

 

[hotaru.hino]

Outside of the crypto people buying up all the GPUs, because of the sudden surge in demand for them, a lot of people were buying up GPUs as speculative investments. They were hoping to buy up a GPU at a low price then grift it onto the next sucker who will believe the market value of GPUs will go up. Lather, rinse, repeat until the latest sucker is stuck trying to sell a GPU at a price nobody wants.

 

[Eximo]

Outside of the crypto people buying up all the GPUs, because of the sudden surge in demand for them, a lot of people were buying up GPUs as speculative investments. They were hoping to buy up a GPU at a low price then grift it onto the next sucker who will believe the market value of GPUs will go up. Lather, rinse, repeat until the latest sucker is stuck trying to sell a GPU at a price nobody wants.

And thanks to it working so well, there will be scalpers again for these new cards, and new consoles, and pretty much anything that doesn't have a proper way to sell direct to consumer.

 

[InvalidError]

And thanks to it working so well, there will be scalpers again for these new cards, and new consoles, and pretty much anything that doesn't have a proper way to sell direct to consumer.

It won't. At least not anywhere near as bad. The last time around, everyone and their cats, and their dogs and their grandmas launched new stuff at the same time while COVID was turning the supply chain upside-down, COVID lock-downs sent hordes of people looking for stuff to do at home and work-from-home/remote-learning exacerbated demand for all related gadgetry. The next-gen GPU launches won't be competing with anywhere near as much other stuff happening all at the same time.

 

[escksu]

$523 for a mining 3080... Nay, its too expensive. If its 200-300, its ok.

Memory degradation isn't a big problem to me as I know how to replace the modules.

 

[escksu]

A lot of the crypto GPUs were undervolted and housed in well-cooled environments. I don't think they're a huge gamble to try, especially if the OEM has a good warranty on the card. Definite possibility for deals here, especially if miners and scalpers start undercutting each other in a week or two.

However, the next generation is weeks or a few months away -- very close. The RTX 30-series also has anemic amounts of VRAM. Intel is taking the low-end of the market away from Nvidia and AMD. Inflation is changing spending habits. Lots of downward pressure on GPU prices. We don't have a PC game pushing graphical fidelity and creating a need to upgrade either. The pendulum is swinging back against the GPU vendors after a couple years of crypto and shortage-fueled craziness.

However, $500+ for 3080 is still too epxnesive. I am waiting to see 200-300

Most of these miners have gotten back their investments a long time ago.

 

[InvalidError]

Memory degradation isn't a big problem to me as I know how to replace the modules.

Replacing the chips is one thing, sourcing them is another. Last time I tried looking for GDDR6 from the usual suspects, there was no stock of anything beyond 12Gbps anywhere.

 

[Phaaze88]

And the memory controller is totally fine, huh?

 

[tamalero]

A lot of the crypto GPUs were undervolted and housed in well-cooled environments. I don't think they're a huge gamble to try, especially if the OEM has a good warranty on the card. Definite possibility for deals here, especially if miners and scalpers start undercutting each other in a week or two.

However, the next generation is weeks or a few months away -- very close. The RTX 30-series also has anemic amounts of VRAM. Intel is taking the low-end of the market away from Nvidia and AMD. Inflation is changing spending habits. Lots of downward pressure on GPU prices. We don't have a PC game pushing graphical fidelity and creating a need to upgrade either. The pendulum is swinging back against the GPU vendors after a couple years of crypto and shortage-fueled craziness.

Key word is "some"
I've seen photos of some mining operations and they were all in an open air warehouse with floor fans moving air( with potential tons of dust and humidity) into the 24/7 running operation.
Some with shoddy bridged PSUs.
So yeah no..
I bet those having a decent air conditioning environments are a rarity.

Crypto-miner here for over a year now. For starters, we had NOTHING to do with the influx of GPU prices. We did not cause GPU prices to go up. The sellers of GPUs caused GPU prices to go up, by choosing on their own free will to list their GPUs for sale for 3x MSRP. They didn't have to post them for 3x MSRP. It was well within their right to post them for whatever they wanted to post them for. The sellers could have chosen to post them for MSRP or less. They chose 3x MSRP. It was a choice. We didn't choose it for them. We didn't put a gun to their head and force them to list their price at 3x MSRP. We had nothing to do with that. The sellers chose to sell them high on their own free will. Don't blame us for someone elses free will choices. Secondly, here's a YouTube video that can give you a fairly good idea of how badly our mining operations have destroyed the environment. One more thing, we have already been compensated for the GPU crisis which we had nothing to do with. We have been compensated by great fortunes which our machines give us. There will be more. Dont think...... for even so much as a microsecond......... that the merge is going to put an end to mining. Prices will drop for a while, and in time, a new coin will rise up, the crypto-boom shall be renewed once again, just like it did after the crash of 2018, and then you can go back to choosing on your own free will to pay 3x MSRP for a GPU, if that's what it takes to stay in mommys basement wasting your life away playing fartnite at max settings, 4K 240FPS. Does that sound fair? Excellent, glad we could come to an understanding. .

Gamers never needed to buy every single device to inflate profits.. Miners did. So yes, you're part of the problem.
Also supply demand, if you artificially buy every single device for things not relate to what their function yes.. again you're part of the problem.

Not to mention the other group that also is destroying every market. The scalper.

Also I'm laughing so hard at your attempts to evangelize with crypto bs. XD

Can't wait for the repeated record of "But you dontttt understaaaaaand".

 

[TheOtherOne]

I won't touch these even with a 10 feet pole 🇳🇴

 

[Deleted member 14196]

Yeah I agree

 

[Im__A__Blimp]

Complete nonsense, try harder next time. Miners are absolutely to blame for the GPU crisis and also bad for the environment a 100% and no discussion about it. If miners hadn’t bought all GPUs or mining weren’t a thing the prices would’ve been just inflated by post covid situation with people needing more GPUs, that’s it.

Nonsense? What part of this do you have trouble with? Gamers bought GPUs. Content creators bought GPUs. Folders bought GPUs. Miners bought GPUs. Data centers bought GPUs. Machine Learning companies bought GPUs. ...... and somehow miners are blamed for the shortage? Any time someone buys a GPU, that's one less for the next person. Anyone who bought a GPU is to blame for the shortage, THAT INCLUDES GAMERS. So don't single out miners. Try actually watching the video I sent. The earth will be jjjjuuuussssttttt fine. Don't you worry your pretty little head about that.

 

[Im__A__Blimp]

Miners didn't cause GPU prices to go up. Crypto-currency demand did.

Nope. GPU prices were high because sellers on their own free will chose to post them for high values. Sellers had the free will to sell them for 50% less. It was the choice of sellers. We had nothing to do with it. All we did was buy GPUs. The sellers set their prices, not the miners. Don't blame us

 

[Im__A__Blimp]

Imagine not even understanding basic economics even a 5-year-old can grasp, like, oh, supply and demand.

Who do you even try to fool with this crap? Cryptobros bought all the GPUs off the market leaving none to normal people and enabling scalpers, but they aren't at fault for scalper prices? Supply and demand and regular price mechanics (prices go up as supply goes down) don't exist anymore?

And you got nothing to do with environmental destruction? So energy grows on trees now, and producing it does not damage the environment at all? GPUs don't need rare resources mined in 3rd world countries by companies not giving a hoot about what destroying hundreds of square kilometers do, not to speak about what it does to their employees? Are you bloody serious?

And I'm the one who stays "in mommys basement wasting your life away playing fartnite at max settings, 4K 240FPS." How old are you, 12? That's what you sound like. I live on my and earn my own money. In the environmental sector, btw. Gaming is a hobby after doing actual work trying to mitigate your garbage so that maybe future generations can still live on this rock, so don't give me anymore of your garbage.

"Price goes up as supply goes down".

Wrong!!!! Supply shortage does not CAUSE prices to go up. Price goes up as sellers set them. Supply can drop to ZERO, and sellers still have free will to set their price how they want. No matter how great or how small the supply, at the end of the day, it is the seller, who on his own free will chooses to enter into the "set price field" what they set the price as. It's a choice. Yes, they CHOOSE to set their price based on supply. But that is a choice. They are not required to do so. They choose to. It is a free will choice. We as miners didn't set the prices, we bought the cards. The sellers set the prices. We didn't put a gun to their heads and force them to set a high price. They chose it. It was a choice. It was a complete full 100% unadulterated free will choice. We are not responsible for other people's decisions that they made on their own free will. Don't blame us for choices other people made. As far as the environment goes, try actually watching the damn video, goddamn environmentalists

 

[alceryes]

A lot of the crypto GPUs were undervolted and housed in well-cooled environments. I don't think they're a huge gamble to try, especially if the OEM has a good warranty on the card.

A lot are also housed in openair warehouses where it's constantly 85ºF+ too.

I was actually asked to be involved in a farm that was going up somewhere in Kentucky. This farm was going to house ASICs in open-air lean-to shacks?! I ultimately didn't get involved but the dust and heat buildup alone would've been atrocious. Even then, the ones fronting the millions still expected to make a profit. They owned a nearby, barely operating, hydro electric plant.

In short, no, No, NO. I would never expect a GPU used for mining 24/7 to be useful for anything other than a paperweight.

 

[egda23]

"Price goes up as supply goes down".

Wrong!!!! Supply shortage does not CAUSE prices to go up. Price goes up as sellers set them. Supply can drop to ZERO, and sellers still have free will to set their price how they want. No matter how great or how small the supply, at the end of the day, it is the seller, who on his own free will chooses to enter into the "set price field" what they set the price as. It's a choice. Yes, they CHOOSE to set their price based on supply. But that is a choice. They are not required to do so. They choose to. It is a free will choice. We as miners didn't set the prices, we bought the cards. The sellers set the prices. We didn't put a gun to their heads and force them to set a high price. They chose it. It was a choice. It was a complete full 100% unadulterated free will choice. We are not responsible for other people's decisions that they made on their own free will. Don't blame us for choices other people made. As far as the environment goes, try actually watching the damn video, goddamn environmentalists

If you really believe what you say, you must live in a parallel world with an economy working differently than for the rest of us.
Cheers ...

 

[Im__A__Blimp]

If you really believe what you say, you must live in a parallel world with an economy working differently than for the rest of us.
Cheers ...

It's not a belief or an opinion, it's objective hard and fast fact

 

[Kzukowski1988]

A lot are also housed in openair warehouses where it's constantly 85ºF+ too.

I was actually asked to be involved in a farm that was going up somewhere in Kentucky. This farm was going to house ASICs in open-air lean-to shacks?! I ultimately didn't get involved but the dust and heat buildup alone would've been atrocious. Even then, the ones fronting the millions still expected to make a profit. They owned a nearby, barely operating, hydro electric plant.

In short, no, No, NO. I would never expect a GPU used for mining 24/7 to be useful for anything other than a paperweight.

We were installing new panels to acommodate 100s of miners at an old phizer plant. The miners themselves were cool to the touch but the ambient temperature was a nightmare. This was in the wintertime too! The nasty heat came from all the miners blowing moderatly warmer air in unison. Of course running them 24/7 is a detriment to shelf life though.

 

[KyaraM]

"Price goes up as supply goes down".

Wrong!!!! Supply shortage does not CAUSE prices to go up. Price goes up as sellers set them. Supply can drop to ZERO, and sellers still have free will to set their price how they want. No matter how great or how small the supply, at the end of the day, it is the seller, who on his own free will chooses to enter into the "set price field" what they set the price as. It's a choice. Yes, they CHOOSE to set their price based on supply. But that is a choice. They are not required to do so. They choose to. It is a free will choice. We as miners didn't set the prices, we bought the cards. The sellers set the prices. We didn't put a gun to their heads and force them to set a high price. They chose it. It was a choice. It was a complete full 100% unadulterated free will choice. We are not responsible for other people's decisions that they made on their own free will. Don't blame us for choices other people made. As far as the environment goes, try actually watching the damn video, goddamn environmentalists

And you buying the cards at the inflated prices is exactly why they can even sell them at those prices to begin with. That's the next part of the price mechanic - if nobody buys it at the inflated prices, they go down naturally on their own because there is no use listing them at the inflated price if nobody actually buys them, since then they are just wasted space in the storage. Which, once again, makes you responsible for ever inflating prices since you as the buyer are dumb enough to buy them at them, further increasing prices which you then pay again and again. I mean, I'm not surpsrised you don't understand this. You did buy into the crypto bs after all...

 

[Geezer760]

I wouldn't buy any of their cards regardless of the discounted price. These guys were the reason the market was messed up for over a year. Not going to reward them by buying their used mining gpu's just on principle alone.

EXACTLY! Your absolutely on point.

 

[Geezer760]

Crypto-miner here for over a year now. For starters, we had NOTHING to do with the influx of GPU prices. We did not cause GPU prices to go up. The sellers of GPUs caused GPU prices to go up, by choosing on their own free will to list their GPUs for sale for 3x MSRP. They didn't have to post them for 3x MSRP. It was well within their right to post them for whatever they wanted to post them for. The sellers could have chosen to post them for MSRP or less. They chose 3x MSRP. It was a choice. We didn't choose it for them. We didn't put a gun to their head and force them to list their price at 3x MSRP. We had nothing to do with that. The sellers chose to sell them high on their own free will. Don't blame us for someone elses free will choices. Secondly, here's a YouTube video that can give you a fairly good idea of how badly our mining operations have destroyed the environment. One more thing, we have already been compensated for the GPU crisis which we had nothing to do with. We have been compensated by great fortunes which our machines give us. There will be more. Dont think...... for even so much as a microsecond......... that the merge is going to put an end to mining. Prices will drop for a while, and in time, a new coin will rise up, the crypto-boom shall be renewed once again, just like it did after the crash of 2018, and then you can go back to choosing on your own free will to pay 3x MSRP for a GPU, if that's what it takes to stay in mommys basement wasting your life away playing fartnite at max settings, 4K 240FPS. Does that sound fair? Excellent, glad we could come to an understanding. .

You Miner dudes must have alot of cash to burn, to buy up a crap load of GPUs. when gamers all they need is one at a fair price.

 

[KyaraM]

You Miner dudes must have alot of cash to burn, to buy up a crap load of GPUs. when gamers all they need is one at a fair price.

Yeah imagine not feeling responsible for the shortage when the 1000 cards you alone bought to burn within a year could have served equally many people for the next couple years... and then not even understanding basic economic principles. No miracle it got that big an issue, too many greedy idiots running around actually believing in this bs.

 

[InvalidError]

if nobody actually buys them, since then they are just wasted space in the storage.

It is worse than that: every GPU you bought at an already inflated price from your supplier in hopes of gouging potential customers is a potential liability if the market prices collapse from someone else deciding to drop their prices to clear their excess unsold inventory before you do.

Retailers are currently stuck in somewhat of a circular firing squad with their RTX GPUs. Nobody wants to be the first putting the axe to retail prices since most of them have stock they overpaid for and don't want to eat a loss on, so RTX prices are only slowly coming down as inventory of parts stocked at lower prices piles up.

 

[octavecode]

I will repost what i posted in another thread
Let them take those cards to the grave.
There are NO good mining cards, the vram the vrm the memory controller everything is simple done.
Even if you replace some ram modules its still not good.