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

[egda23]

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

Agree. In your parallel world ...

 

[KyaraM]

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.

That is indeed also a huge problem, yeah. Nobody wants to be the one who signals in the decline, we are essentially at the logical conclusion of the inflation - from this point on, it will only go downhill, but everyone wants to desperately sell as much to the inflated prices as possible, resulting in an effetual standstill. Prices should and could be much lower, instead we have to read everywhere how miners are now selling them off for "under MSRP!" and acting as if that's a steal, when a minimg 3060Ti goes for 300-400 bucks. That card is maybe worth 50. If at all. Most likely not even that.

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.

Amen. There is a reason why you lose all warranty the second you start to use your card for mining after all... this is why. No matter what they try to tell you, they are lying and they know because all they care for is making money and nothing else.

 

[Im__A__Blimp]

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...

No. Me buying cards did not inflate the price. The sellers inflated the price. They chose to set the price they wanted to set. The buyer doesn't set the price. The seller does. MSRP on a 3080 was $999.99 I think. The seller could have set it to that. He could set it to $9.99, or $99,999.99. Its up to the seller. Luckily I got all mine around MSRP, but that's besides the point. If no one buys it at inflated price, prices don't "go down naturally", what happens is the seller than chooses on their own free will to either change the price or not change the price. Keep nature (nature is the root word of natural) out of this. It's a free will choice by the seller. The buyers doesn't inflate the price by buying. The seller inflates the price by entering a >MSRP amount into the set price field using his keyboard when posting the ad. That's the sellers doing, not mine. Don't blame me for something the seller did

 

[Im__A__Blimp]

Agree. In your parallel world ...

No one said you have to like it, or accept it. That doesn't change it. Facts hold true regardless of acceptance

 

[Tac 25]

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.

pretty much the reason why I absolutely refuse to buy such things.

these gpu used for mining are already in very bad shape.

 

[Deleted member 14196]

No. Me buying cards did not inflate the price. The sellers inflated the price. They chose to set the price they wanted to set. The buyer doesn't set the price. The seller does. MSRP on a 3080 was $999.99 I think. The seller could have set it to that. He could set it to $9.99, or $99,999.99. Its up to the seller. Luckily I got all mine around MSRP, but that's besides the point. If no one buys it at inflated price, prices don't "go down naturally", what happens is the seller than chooses on their own free will to either change the price or not change the price. Keep nature (nature is the root word of natural) out of this. It's a free will choice by the seller. The buyers doesn't inflate the price by buying. The seller inflates the price by entering a >MSRP amount into the set price field using his keyboard when posting the ad. That's the sellers doing, not mine. Don't blame me for something the seller did

It seems as though you have failed economics 101 and the laws of supply and demand. Go back and re-study those. By all of you restricting the supply with the demand being high the price goes up so yes you did directly affect the price. You need to get an education

On top of that the unethical practices of miners buying tons of cards is a pretty crappy thing to do to everybody else who wants one

 

[KyaraM]

No. Me buying cards did not inflate the price. The sellers inflated the price. They chose to set the price they wanted to set. The buyer doesn't set the price. The seller does. MSRP on a 3080 was $999.99 I think. The seller could have set it to that. He could set it to $9.99, or $99,999.99. Its up to the seller. Luckily I got all mine around MSRP, but that's besides the point. If no one buys it at inflated price, prices don't "go down naturally", what happens is the seller than chooses on their own free will to either change the price or not change the price. Keep nature (nature is the root word of natural) out of this. It's a free will choice by the seller. The buyers doesn't inflate the price by buying. The seller inflates the price by entering a >MSRP amount into the set price field using his keyboard when posting the ad. That's the sellers doing, not mine. Don't blame me for something the seller did

Go back to school and actually try to understand what you are even talking about.

It seems as though you have failed economics 101 and the laws of supply and demand. Go back and re-study those. By all of you restricting the supply with the demand being high the price goes up so yes you did directly affect the price. You need to get an education

The sad thing is, considering how often and how many people did try to educate him about this already, I have a sinking feeling that this dude is immune to education...

 

[Kzukowski1988]

"The sad thing is, considering how often and how many people did try to educate him about this already, I have a sinking feeling that this dude is immune to education..."

Yeah,

its why I stopped replying to him. Just a lemming throwing out the same nonsense like the feces monkeys throw at each other in a zoo.

 

[alceryes]

I predict that the second-hand GPU market will, unfortunately, become much worse. Most of these mining groups will offload these cards in bulk, quickly. The buyers of the bulk, in turn, will slap a "refurbished, tested, all okay, never-mined-with" sticker on it and sell it at a moderate deal.

This is the primary reason why I won't buy ANY used potentially-mined-with GPUs over the next few years unless it comes with a 90-day no-questions-asked return guarantee. Even then, the deal would have to be spectacular. Enough to pay for my time in testing the crap out of the card while inside the guarantee window.

 

[Im__A__Blimp]

It seems as though you have failed economics 101 and the laws of supply and demand. Go back and re-study those. By all of you restricting the supply with the demand being high the price goes up so yes you did directly affect the price. You need to get an education

On top of that the unethical practices of miners buying tons of cards is a pretty crappy thing to do to everybody else who wants one

The price doesn't go up because of supply and demand, the price goes up because the seller sets it high. In fact, when a seller posts an ad, there's a field on the ad page where the seller enters the price to sell for. No one fills that field besides the seller. Don't believe me? Go try it yourself. Trust me, that field ain't going to fill itself. That field is filled by the seller, on their own free will. This is a fact. There isn't some economics police officer that takes over the device and fills in that field. Nope. There isn't some high-power econo-god that swoops in all like ECONOMICS!!! PRICE SET 3X MSRP!!!!!. Nope. That field will remain blank until the seller communicates the device on his own free will to set the price. It is only filled by the seller on his own free will. It is not the buyer who sets the price. Its the seller. Don't blame the buyer for what the seller did.

On top of that, your newegg.com is the same as my newegg.com. Your amazon.com is the same as my amazon.com. You have a perfectly working PC with internet. You want a GPU, go buy one. That's what I did. I wanted a bunch of GPUs. I went and bought them. You want a GPU? Go buy one. If someone is willing to sell me a product, and I am willing to pay for it, there's nothing unethical about that. Don't tell me buying products is unethical. Spending money not unethical.

 

[-Fran-]

Er... Prices go up because humans decide to make them go up. Which is technically correct. That's like saying "you take a dump because you decide to go to the toilet and let it out", which is also factually correct.

Take it from there.

Regards.

 

[Im__A__Blimp]

I predict that the second-hand GPU market will, unfortunately, become much worse. Most of these mining groups will offload these cards in bulk, quickly. The buyers of the bulk, in turn, will slap a "refurbished, tested, all okay, never-mined-with" sticker on it and sell it at a moderate deal.

This is the primary reason why I won't buy ANY used potentially-mined-with GPUs over the next few years unless it comes with a 90-day no-questions-asked return guarantee. Even then, the deal would have to be spectacular. Enough to pay for my time in testing the crap out of the card while inside the guarantee window.

No sane, rational, free thinking specimen would ever sell one to you with a guarantee 90-day return policy. Overclockers pushing their cards too far, bricking them from over-overclocking.... "Hi. I bought this card from you. It hasnt been 90 days. I want to return. Card died on me and I can't figure out why. It just stopped working". No one will go for that lol

 

[Kzukowski1988]

Er... Prices go up because humans decide to make them go up. Which is technically correct. That's like saying "you take a dump because you decide to go to the toilet and let it out", which is also factually correct.

Take it from there.

Regards.

I just took a dump and am gonna charge 300 for it. Woo hoo I'm gonna be rich! Turning turds into gold ftw!

 

[alceryes]

No sane, rational, free thinking specimen would ever sell one to you with a guarantee 90-day return policy. Overclockers pushing their cards too far, bricking them from over-overclocking.... "Hi. I bought this card from you. It hasnt been 90 days. I want to return. Card died on me and I can't figure out why. It just stopped working". No one will go for that lol

I was referring to eBay or Amazon renewed where the marketplace will step in and refund you.
I agree though, fat chance of getting anyone to offer an ironclad guarantee. I was just saying what it would take for me to even consider a used GPU nowadays.

 

[alceryes]

I just took a dump and am gonna charge 300 for it. Woo hoo I'm gonna be rich! Turning turds into gold ftw!

Close'ish...?

A TikToker Made $200,000 Farting In Jars. Here's How She Did It

'90-Day Fiancé' star Stephanie Matto was so committed to farting she sent herself to the ER — but a pivot to NFTs takes the pressure off.

www.rollingstone.com

 

[Im__A__Blimp]

I was referring to eBay or Amazon renewed where the marketplace will step in and refund you.
I agree though, fat chance of getting anyone to offer an ironclad guarantee. I was just saying what it would take for me to even consider a used GPU nowadays.

That's why I will never sell on eBay.

Seller: Sells perfectly good never mined on GPU on ebay
Buyer: Cries about getting only 122FPS on their 144Hz monitor, overclocks GPU to get more frames, GPU dies
Buyer: I WANT REFUND!!!! SELLER SOLD ME DEAD GPU!!!!!
Seller: ..........

 

[alceryes]

That's why I will never sell on eBay.

Seller: Sells perfectly good never mined on GPU on ebay
Buyer: Cries about getting only 122FPS on their 144Hz monitor, overclocks GPU to get more frames, GPU dies
Buyer: I WANT REFUND!!!! SELLER SOLD ME DEAD GPU!!!!!
Seller: ..........

Yeah, there's definitely buyers who take advantage of eBay's "buyer's always right" policy, but not every buyer is out to cheat.
I've sold multiple cards on eBay, including a Vega 64 for $550 and a Titan Xp for $800. Other than me grumbling about eBay's cut, I had no issues with the transaction.

 

[Kobold]

Hmm I dunno if this event would really make a difference to the GPU market, new or in the used market, considering this is taking place in China.


Sure would wish that to be the case, as prices are $200 bucks above normal here in Norway still, and (used) card sellers still trying to sell them off at those same prices.

 

[Kzukowski1988]

Close'ish...?

A TikToker Made $200,000 Farting In Jars. Here's How She Did It

'90-Day Fiancé' star Stephanie Matto was so committed to farting she sent herself to the ER — but a pivot to NFTs takes the pressure off.

www.rollingstone.com

That's nuts! She probably didnt send them the good stuff either. Like a cheap drug dealer she gave them the fake jars full of cat farts lmfao. The prices people will pay for garbage these days is starting to scare me.

 

[Kzukowski1988]

Hmm I dunno if this event would really make a difference to the GPU market, new or in the used market, considering this is taking place in China.


Sure would wish that to be the case, as prices are $200 bucks above normal here in Norway still, and (used) card sellers still trying to sell them off at those same prices.

The used market is destroyed for sure in the next few years. Back then you'd buy a card knowing it wasnt butchered in a crypto farm. Now its just a lottery purchase. Better to just pay msrp from a brand name store now.

 

[KyaraM]

The used market is destroyed for sure in the next few years. Back then you'd buy a card knowing it wasnt butchered in a crypto farm. Now its just a lottery purchase. Better to just pay msrp from a brand name store now.

The sad part is. I have a perfectly good GTX 1070 that I could sell and am fairly sure would last the buyer a couple more years. It's in good condition and never got overclocked or mined with, ever. Instead, it's a backup now in case my 3070Ti croaks for whatever reason. Not confident I even could sell it in the current climate. Feels like the market is busted for trustworthy sellers, too.

 

[Kobold]

The used market is destroyed for sure in the next few years. Back then you'd buy a card knowing it wasnt butchered in a crypto farm. Now its just a lottery purchase. Better to just pay msrp from a brand name store now.

Yeah, I've noticed the norwegian used market (finn.no) has been getting a good few mining rigs and mining cards up for sale recently, no doubt cause of the crypto-crash
Is there anyone that would be foolish enough to buy up used mining rigs at this moment tho? Even if the crypto market recovers, the energy prices has been messed up for a lot of EU (and Norway) for the past year now.

I wouldn't touch any confirmed mining cards, and I wouldn't buy used unless it was ~200-300 bucks beneath MSRP/store price anyways.

 

[InvalidError]

I wouldn't touch any confirmed mining cards, and I wouldn't buy used unless it was ~200-300 bucks beneath MSRP/store price anyways.

I wouldn't touch mining GPUs unless they are 60+% below retail prices, the expectation being there is a ~20% chance it may become a parts card or get returned.

 

[Kzukowski1988]

I wouldn't touch mining GPUs unless they are 60+% below retail prices, the expectation being there is a ~20% chance it may become a parts card or get returned.

That is true. Buy at a huge discount in case it fails.

 

[DRagor]

The next-gen GPU launches won't be competing with anywhere near as much other stuff happening all at the same time.

Let's hope so. But who knows if there is an asteroid coming this way just as we speak?