Thursday, May 12th 2022
Bitcoin Bloodbath Brings Cheer to Gamers as Graphics Card Prices Plummet
Bitcoin, along with most cryptocurrencies are going through a cycle of devaluation. They may rebound in the future, but for now it means that crypto miners will halt purchases of graphics cards, and possibly even sell what they have, to raise capital for next-generation GPU purchases (late-2022). What this means is a flooding of the market with used graphics cards, which will put tremendous pressure on graphics card manufacturers to lower prices. It's also a means for NVIDIA and AMD to clear out their current-generation inventory, to make room for the next-gen. The inflection of all these factors brings cheer to PC gamers, who can finally have an NVIDIA "Ampere" or AMD RDNA2 graphics card at prices that are either at or below MSRP (launch prices).
Bitcoin has crashed nearly 60%, from its November 2021 price of 65,000 USD, to 27,150, as of this writing. This will have a direct impact on the economics of mining cryptocurrencies using power-hungry high-end graphics cards. Those with mining farms will look to stop mining, and possibly get rid of some of their graphics cards while their market-value are still at an acceptable level. The competition between pre-owned graphics cards and brand-new ones from the market, will bring down prices of both.
NVIDIA recently announced the "Restocked and Reloaded" marketing campaign, where the company is reaching out to gamers, telling them that their RTX 30-series cards are back in stock, at MSRP pricing. AMD, on the other hand, has refreshed its RX 6000 series product stack with three new SKUs, signaling gamers that it has new hardware on the shelves.
An AMD Radeon RX 6900 XT can be had for as low as $899, which is also the price for the cheapest NVIDIA GeForce RTX 3080. The cheapest RTX 3060 Ti is $529, while the cheapest RX 6700 XT is $498. The cheapest RX 6600 XT is at $399, while the cheapest RTX 3060 is going for $419. Rejoice!
Bitcoin has crashed nearly 60%, from its November 2021 price of 65,000 USD, to 27,150, as of this writing. This will have a direct impact on the economics of mining cryptocurrencies using power-hungry high-end graphics cards. Those with mining farms will look to stop mining, and possibly get rid of some of their graphics cards while their market-value are still at an acceptable level. The competition between pre-owned graphics cards and brand-new ones from the market, will bring down prices of both.
An AMD Radeon RX 6900 XT can be had for as low as $899, which is also the price for the cheapest NVIDIA GeForce RTX 3080. The cheapest RTX 3060 Ti is $529, while the cheapest RX 6700 XT is $498. The cheapest RX 6600 XT is at $399, while the cheapest RTX 3060 is going for $419. Rejoice!
122 Comments on Bitcoin Bloodbath Brings Cheer to Gamers as Graphics Card Prices Plummet
Not to mention where this cards are used, most of the times with insufficient space between then, no external cooling.
Cooking vrams.
but you know stupid people should not breed, but unfortunately this will happen... The same goes for ignorant people thinking they are getting a good deal on a "used" card, which we know that most likely the card was in a mining rig, being run into the ground.
Compared to... what? 9% inflation on milk and eggs? Okay, I need to eat and all, but its clear that GPU prices are falling faster than inflation right now. GPU prices were artificially propped up by the cryptocoin market, and now that cryptocoins are less profitable, GPUs are dropping in price. Dramatically.
If GPUs drop from $2000 to $900, and then inflation makes that turn into $950 or whatever, that's... fine? I don't think I really care about the 5% to 10% estimated inflation rates right now. GPU prices are changing way faster than inflation... we can actually ignore inflation for all intents and purposes (despite inflation being historically high right now).
At ridiculous prices
The way you buy anything with any of them though is usually to exchange it to a bank first.
The problem is the huge number of helpless idiots threw too much of their own money and financial security into this crap, thanks to shitty ads that tricked them into believing these cryptos were worthwhile. You're looking for high-yield bank accounts: you find a 20% APY for "UST" from Anchor. You learn how UST works, so you decide to dabble in Luna. Then everything just collapses a year later.
Also as I’m sure you know, when talking about crypto prices it’s a very rare instance when eth and btc aren’t following the exact same charting trend. Yes it occasionally happens, but certainly not on this last dive.
you mean instead of taking a dollar and directly handing it the other party i would have to hand it to a bank, who then hands it to the other party?
(if so) ok,. whatever.
Does it also sell you snake oil?
Dont understand why you would put all your investment(s) into a coin that is based on, nothing!
Without advice, some folks go all in without realising crypto isn't like investing in shares (where some form of regulation provides a little security, as well as paying dividends); it's just the same as gambling.
www.coinbase.com/price/terra-luna
decrypt.co/99899/binance-halts-luna-withdrawals-terra-token-plummets
Who's next...
Nobody with the know how to put a 12GPU rig together is then pointing it at NH. Iirc 12 is like the max you can put to a rig.
Some of yall just absolute seething over crypto and gpus.
A long as a mining card was given fresh air and not hot recirculated air then it's probably in better shape than most gamers cards who get heat cycled and put on pull full power in their tempered glass hotboxes.
however after some (sober) reflection- it not unlike what i do with paypal and my debit card.
GPUs being sold out, while DDR4 / DDR5 and NVMe flash doing fine though? That's suggests more of a crypto-boom than anything else. Who else puts 8x GPUs in one rig?
hothardware.com/news/desktop-cpu-sales-quarterly-decline-amd-record-share
Not to mention the move to 7/8nm or better nodes only just begun during that time back in 2019/20 period. TSMC has increased capacity massively from back then, better yields & now moving on to 4nm or smaller nodes. So no I don't see how Covid wasn't a major factor in that, remember the spike in "work/study from home" PC's or other related hardware sales?