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

[alceryes]

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

There are always asteroids coming this way -

Sentry: Earth Impact Monitoring

NASA's Near-Earth Object (NEO) web-site. Data related to Earth impact risk, close-approaches, and much more.

cneos.jpl.nasa.gov

(dial down the probability scale and you'll see over 1400 in this list alone)

However, there could always be one that we just aren't seeing. Oumuamua, which made headlines in 2017, had already passed perihelion and was speeding away from us when we caught sight of it - over a month AFTER its closest distance to the earth. Sweet dreams! Goodnight! 🤣

 

[xxxWARSPITExxx]

Only buy used cards with warranty, it doesn’t matter if crypto or not. What to look out for with crypto cards are also the fans, under constant use they aren’t in the best shape anymore.
Also 530$ isn’t cheap by any means, we are talking about used cards here, it’s really nothing special. 350-400$ would be good.

If you think you are going to get a 3080 for $350-400 you are dreaming. $530 is even way lower than what it should be and was just some desperate fire sale.

 

[xxxWARSPITExxx]

That’s complete nonsense as well, you’re basically contradicting yourself here. Crypto currency created mining, more demand created more miners and more miners bought more GPUs causing the shortage, it’s really funny how people don’t understand this simple fact.

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.

 

[Kzukowski1988]

If you think you are going to get a 3080 for $350-400 you are dreaming. $530 is even way lower than what it should be and was just some desperate fire sale.

I dont care if little Timmy is selling his 3080 fpr 250 bucks to help fund his uncle's erectile pill needs. Any 3x series cards above 150 bucks are dead to me. Any smart consumer would stay far from those used cards right now. Even brand new no point in buying since the 4x series will obliterate them in a few months.

 

[Kzukowski1988]

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.

Ah yes only blame the scalpers and not the chinese miners paying the inflated prices. You do know without crypto nobody would be buying those scalped cards in the first place? Besides your usual NO-life idiots that would pay any price for the cards just to play their games, nobody was gonna buy them......except crypto miners. Covid didnt help either but giving the consumer the option to still make money from scalped cards via mining made it 10x worse.

 

[InvalidError]

Majority of mining is ASICS ETH miners, not GPUs.

ETH miners were quite late in the game and the story the other day about how many GPUs appear to have ended up in mining operations points to about 10 million GPUs having landed in crypto farms over the last 1.5 years.

 

[Kzukowski1988]

ETH miners were quite late in the game and the story the other day about how many GPUs appear to have ended up in mining operations points to about 10 million GPUs having landed in crypto farms over the last 1.5 years.

One gamer can buy 1 or 2 cards for personal use. A crypto farm can buy as many cards as the transformer allows, which is a LOT! Yet people have the audacity to still say miners were not the issue.

 

[Ogotai]

That's what I did. I wanted a bunch of GPUs. I went and bought them. You want a GPU? Go buy one

i wish i could but crytominers, instead of buying ONE GPU, they are buying 2, 3, 4, 5, 6,7, etc, like you probably did by the sounds of the above quote. so yes crypto miners DID cause some of the issues with gpu prices and availability, regardless of what YOU think is the reason. and because of that, im still using a strix gtx 1060, as i havent been able to get a GPU that wasnt way over priced for the last 1.5 to 2 years.

 

[Sir_Jimbo]

i wish i could but crytominers, instead of buying ONE GPU, they are buying 2, 3, 4, 5, 6,7, etc, like you probably did by the sounds of the above quote. so yes crypto miners DID cause some of the issues with gpu prices and availability, regardless of what YOU think is the reason. and because of that, im still using a strix gtx 1060, as i havent been able to get a GPU that wasnt way over priced for the last 1.5 to 2 years.

Nope. We didnt cause the issues with GPU prices. The sellers set the prices, not us. That's a fact, a hard and fast fact. I didn't set the price. The sellers post the ads, THEY CHOOSE THE PRICE on their own free will. Don't blame us for prices we did not set. You don't have to use a GTX 1060, it is well within your right to buy a different graphics cards, just like it is also mine. I chose to exercise my right, and you are welcome to do so as well. My decision to purchase one or more GPUs does not make me responsible for your decision not to.

 

[InvalidError]

Nope. We didnt cause the issues with GPU prices. The sellers set the prices, not us.

Manufacturers, sellers and middlemen set prices based on what the market will bear to balance of finite supply against demand. When crypto-miners are willing to clean up all the GPUs they are able to get their hands on at 3X MSRP because they expect to still be able to turn a profit out of it, prices go up to 3X MSRP.

If nobody was willing to pay more than MSRP, prices would stay at MSRP or lower since nobody makes a profit from zero sales.

 

[Sir_Jimbo]

Manufacturers, sellers and middlemen set prices based on what the market will bear to balance of finite supply against demand. When crypto-miners are willing to clean up all the GPUs they are able to get their hands on at 3X MSRP because they expect to still be able to turn a profit out of it, prices go up to 3X MSRP.

If nobody was willing to pay more than MSRP, prices would stay at MSRP or lower since nobody makes a profit from zero sales.

Your first sentence listed 3 people who set prices. Miners are not on that list. Don't blame us for what other people do. Also, not all miners, including myself paid 3x MSRP. I paid MSRP on average for all mine. Prices don't go up to 3X MSRP because crypto-miners buy them. Prices go up to 3X MSRP because that's what sellers set them to. They don't have to. They have a choice. They CHOOSE to set them as that. We, as miners don't. We just mine. Sellers set their price. Don't blame us for other peoples free will choices.

 

[InvalidError]

Your first sentence listed 3 people who set prices. Miners are not on that list.

You conveniently omit the fourth: buyers. Sellers cannot charge more than people are willing to pay for stuff and miners are the ones willing to buy GPUs in bulk for 3-4X MSRP.

Sellers cannot make a profit from setting prices higher than people are willing to pay.

 

[Sir_Jimbo]

You conveniently omit the fourth: buyers. Sellers cannot charge more than people are willing to pay for stuff and miners are the ones willing to buy GPUs in bulk for 3-4X MSRP.

Sellers cannot make a profit from setting prices higher than people are willing to pay.

Buyers don't set prices. If buyers set prices, they would set all the prices to 1 dollar, and then you would have 3090s for 1 dollar. Buyers don't set prices. Ads are posted by the seller. When ads are posted, there is a field on the ad post page which is where you set price. That field is filled only by the seller, not the buyer. If buyers could set prices, I could walk into a car dealer and set the price of a lambo to 1 dollar and then buy it. Buyers dont set prices. Only the 3 you listed do.

"Seller cannot charge more than".... ummmm.... Sellers can charge whatever they want. A bag of jelly beans is 3 dollars at wal mart. I can post mine on eBay for $10,000. I want 10,000 dollars. If you dont want my bag of jelly beans, dont buy it. I can charge whatever I want. Its my product. Ill charge whatever I want for it.

 

[Ogotai]

it is well within your right to buy a different graphics cards

yes, BUT if the price of ANY card is 2, 3 or 4 times the price they SHOULD be, no thanks, unlike you, i have more brains then you and choose NOT to pay the prices they are currently going for. if YOU are stupid enough to pay those prices, then YES crypto miners ARE partly to blame for the prices as Invalid Error has mentioned,

I paid MSRP on average for all mine

i smell BS right there. IF you did buy all your cards at MSRP, then you proabably did so in BULK, or bought quite a few to get a hefty discount

i also find it quite interesting that Sir_jimbo, and im_a_blimp, pretty much have the SAME opinion in this thread, id bet, they are the SAME person because im a blimp, got shot down on his defending of crypto miners.

either way both, have NO idea how supply and demand works, when crypto miners buy GPUs by the dozens, they eat up supply, which then causes prices to go up. this is fact. the " facts " that Sir_jimbo, and im_a_blimp are attempting to pass off, is BS.
sellers set the prices they did, because crypto miners are willing to pay those stupid prices for them, this is FACT

 

[Sir_Jimbo]

yes, BUT if the price of ANY card is 2, 3 or 4 times the price they SHOULD be, no thanks, unlike you, i have more brains then you and choose NOT to pay the prices they are currently going for. if YOU are stupid enough to pay those prices, then YES crypto miners ARE partly to blame for the prices as Invalid Error has mentioned, IF you did buy all your cards at MSRP, then you proabably did so in BULK, or bought quite a few to get a hefty discount. I also find it quite interesting that Sir_jimbo, and im_a_blimp, pretty much have the SAME opinion in this thread, id bet, they are the SAME person because im a blimp, got shot down on his defending of crypto miners.

No thanks? Fine, then no thanks. You choose not to pay a certain price. That's your choice. Don't blame me because you don't want to pay a certain price. Also, I didn't buy in bulk to pay <= MSRP for my cards, I just happened to know how the game works. People who paid 3X MSRP did so because they don't know how the game works. As an FYI, Im a blimp didn't get shot down by anything. On the contrary, however, Im a blimp got commenting ability removed on this thread because salty mods hate facts and have a hard time dealing with reality when they don't like it, so they silence informants they don't like, as though silencing it somehow changes it, rather than trying to understand it. Kill the messenger instead of learning about the message and trying to understand it. Killing the informant doesn't change the information.

And finally, why sellers chose to set prices the way they did is their decision. They had their reasons. They chose their reasons. No matter what their reasons were, at the end of the day, it was their choice and their reasons. Dont blame us for something they chose to do. Again, eating up supply doesn't cause the price to go up. The supply quantity doesn't enter in the set price field on the ad post page, the seller does. The supply quantity doesn't take over a sellers device and input a 3X MSRP into the price set field. It is incumbent upon the seller, and ONLY the seller to set the price how they freely choose. It is the seller who loads the ad post page on a device, sets the price on his own free will, and then clicks the POST button. That is a free will decision by the seller. Don't blame us for something other people chose to do.

 

[Ogotai]

You choose not to pay a certain price.

yes, because it is quite a bit more then it should be, in this case, 2-4 x what it should be

People who paid 3X MSRP did so because they don't know how the game works.

like the miners did cause they have more money then brains ?

Im a blimp got commenting ability removed on this thread because salty mods hate facts

or maybe they were tired of his BS " facts " which surprisingly are the SAME ones you are trying to pass off as well.

Again, eating up supply doesn't cause the price to go up

and that proves you have NO idea how supply and demand works, and when supply goes down, prices go up.

 

[Sir_Jimbo]

yes, because it is quite a bit more then it should be, in this case, 2-4 x what it should be


like the miners did cause they have more money then brains ?


or maybe they were tired of his BS " facts " which surprisingly are the SAME ones you are trying to pass off as well.


and that proves you have NO idea how supply and demand works, and when supply goes down, prices go up.

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

 

[Ogotai]

Their right to be stupid is my right to not be.

and i doubt you paid MSRP for ANY of the who knows how many cards you bought.

then ya might just figure out why miners are not responsible for the inflated prices of graphics cards

yea ok sure. miners are partly the reason, that is fact, and just like you, or should i say, im a blimps alter ego, dont seems to understand. unless you can explain the posts, and pictures of the mining farms with who knows how many gpus ? or the posts and pictures of miners bragging about how many gpus they were able to buy in ONE shot ? this is why miners are partly to blame for the high prices, and lack of stock.

 

[Sir_Jimbo]

and i doubt you paid MSRP for ANY of the who knows how many cards you bought.



yea ok sure. miners are partly the reason, that is fact, and just like you, or should i say, im a blimps alter ego, dont seems to understand. unless you can explain the posts, and pictures of the mining farms with who knows how many gpus ? or the posts and pictures of miners bragging about how many gpus they were able to buy in ONE shot ? this is why miners are partly to blame for the high prices, and lack of stock.

No one is to blame for the high prices besides the sellers. Not the miners, not the gamers, not the content creators, not the machine learners, not the folders, not the datacenters. The sellers, and the sellers alone are 100% responsible for their own choice to set the price how they choose. All my cards I paid an average of MSRP for. Some I paid 10% more, some I paid 10% less, some I paid MSRP. It all averages around MSRP, give or take a few dollars.

 

[Ogotai]

No one is to blame for the high prices besides the sellers

and if the miners ( partly ) didn't buy them at those prices, or buy them direct from the suppliers, then they wouldn't of been that high.

the other fact, is that you didn't give your ( probably BS take ) on" unless you can explain the posts, and pictures of the mining farms with who knows how many gpus ? or the posts and pictures of miners bragging about how many gpus they were able to buy in ONE shot ? " also shows you have no idea what you are talking about, if the miners didn't buy all those cards, they would of been in the stores to buy, at probably lower prices, and more non miners would of been able to buy them.

yea ok sure, believe what you want, even though you and your clone , are obviously wrong. you obviously have no idea how supply and demand works, if the miners are buying the cards left right and center, leaving no stock everywhere, prices will go up, simple fact.

 

[Sir_Jimbo]

and if the miners ( partly ) didn't buy them at those prices, or buy them direct from the suppliers, then they wouldn't of been that high.

the other fact, is that you didn't give your ( probably BS take ) on" unless you can explain the posts, and pictures of the mining farms with who knows how many gpus ? or the posts and pictures of miners bragging about how many gpus they were able to buy in ONE shot ? " also shows you have no idea what you are talking about, if the miners didn't buy all those cards, they would of been in the stores to buy, at probably lower prices, and more non miners would of been able to buy them.

yea ok sure, believe what you want, even though you and your clone , are obviously wrong. you obviously have no idea how supply and demand works, if the miners are buying the cards left right and center, leaving no stock everywhere, prices will go up, simple fact.

Im not exactly sure what you want me to say about all the farms buying GPUs at mass quantities. I don't know what you want me to say about it. Like ya, they did it. But I'm not sure what you are asking about it.

Suppose I go post a GPU for $500, then a miner order all the GPUs and cleans out every shelf in the world. My GPU still shows $500 until I choose to change it on my own free will. The price will not change until I as the seller change it. The supply is ZERO. My GPU stays priced at 500$. Supply won't change that. Demand won't change that. Only I can change it. It is a choice. I will check my ad, and it will still show $500 until I choose to change it. Prices only increase when the seller chooses

 

[LolaGT]

Some really strange business classes have been taken by some folks.

It is always the buyer who sets the price, that is it, end of story.
There is no other option to even choose, if you are trying to pick another option out of make-believe land you don't know anything about anything regarding basic markets.

The cards would have never sold for exorbitant prices without buyers coming to a decision on what they are willing to pay a scalper or retail outlet(Or ebay, which is where everyone learned very early on release what people were willing to pay, as usual with the gotta have it now crowd).

So if you think you need an 'enemy' to blame in this whole fiasco, it was definitely buyers who were willing to pay double and triple the MSRP.
It matters not one little tiny bit what they wanted the cards for.

 

[Sir_Jimbo]

Some really strange business classes have been taken by some folks.

It is always the buyer who sets the price, that is it, end of story.
There is no other option to even choose, if you are trying to pick another option out of make-believe land you don't know anything about anything regarding basic markets.

The cards would have never sold for exorbitant prices without buyers coming to a decision on what they are willing to pay a scalper or retail outlet(Or ebay, which is where everyone learned very early on release what people were willing to pay, as usual with the gotta have it now crowd).

So if you think you need an 'enemy' to blame in this whole fiasco, it was definitely buyers who were willing to pay double and triple the MSRP.
It matters not one little tiny bit what they wanted the cards for.

If the buyer sets the price, then I can walk into a car dealer, set the price of a lambo to 1 dollar, then buy it. Why don't you go try that and let me know how it works out for you. The buyer doesn't set the price. If it did, everything would cost $0.01, but it doesn't. Any price tag you have ever seen in your whole life was put there by a seller, an owner of a product, or someone who represents the owner of a product. Never has a buyer chosen their own price. The buyer doesn't set the price. The seller does. When a seller posts an ad, the ad post page has a field in which THEY set the price. They don't summon a buyer to set the price for them. They on their own free will enter a price into the price set field THAT THEY CHOOSE. The seller sets the price, not the buyer. The buyer might be willing to or not to pay that price. That's a different conversation. But that price is not set by the buyer. It is set by the seller

 

[KyaraM]

If the buyer sets the price, then I can walk into a car dealer, set the price of a lambo to 1 dollar, then buy it. Why don't you go try that and let me know how it works out for you. The buyer doesn't set the price. If it did, everything would cost $0.01, but it doesn't. Any price tag you have ever seen in your whole life was put there by a seller, an owner of a product, or someone who represents the owner of a product. Never has a buyer chosen their own price. The buyer doesn't set the price. The seller does. When a seller posts an ad, the ad post page has a field in which THEY set the price. They don't summon a buyer to set the price for them. They on their own free will enter a price into the price set field THAT THEY CHOOSE. The seller sets the price, not the buyer. The buyer might be willing to or not to pay that price. That's a different conversation. But that price is not set by the buyer. It is set by the seller

I told you before and will tell you again. If you have no idea how the market works, and you made it very clear over several pages that you don't, educate yourself first before spouting any more of your bs here.

Everyone knows that you are Im_a_Blip and you yourself don't even try to hide it. And I'm pretty sure it isn't overly well-received when people make new accounts after their old ones were removed from a discussion. We told you over and over again how things really are outside your extremely distorted understanding of the market. Just back off while you still can.

 

[InvalidError]

"Seller cannot charge more than".... ummmm.... Sellers can charge whatever they want.

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.