ASRock Expects GPU Mining Demand to Drop Later This Year

[Uskompuf]

ASRock expects that GPU shipments will grow in Q2 2021 despite the global component shortages and an anticipated decline in Chinese cryptocurrency mining demand. ASRock believes that GPU availability will improve in H2 2021 as supply chain constraints are alleviated which will hopefully apply some downwards pressure on pricing. China currently accounts for a large portion of global cryptocurrency mining hardware demand but as restrictions are introduced this demand is expected to fall drastically. Ethereum is also expected to move to a Proof-of-Stake system later this year which will drastically reduce mining profitability.



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[Legacy-ZA]

Well, people always get caught off guard because they look at the short time frames, but if you look at the longer one (Weekly), you can see there was a bull trap (Look at the yellow arrow) The pink one showed a so called "bullish momentum back upwards" but two weeks later though... another ouch. It seems that the Wyckoffs Distribution is in playing out nicely... personally, I am expecting another hell of a drop in the future because of that distribution chart.

Whales are gonna whale and we will see our asses as usual.

 

[Jism]

View attachment 204809


Well, people always get caught off guard because they look at the short time frames, but if you look at the longer one (Weekly), you can see there was a bull trap (Look at the yellow arrow) The pink one showed a so called "bullish momentum back upwards" but two weeks later though... another ouch. It seems that the Wyckoffs Distribution is in playing out nicely... personally, I am expecting another hell of a drop in the future because of that distribution chart.

Whales are gonna whale and we will see our asses as usual.

Who cares. This mining craze needs to end.

 

[ZoneDymo]

remember people, pls dont buy anything just because some miner or scalper offers it at like 900 bucks when its 1500 in store.
WAIT (if you can) till the next gen is out so it really forces prices down, then you can buy something second hand, screw them all.

 

[Legacy-ZA]

Who cares. This mining craze needs to end.

Oh I agree, something else to see:

https://twitter.com/i/web/status/1406269298423726084

Things are heating up and we might just start to see GPUs in stock in the near future.

remember people, pls dont buy anything just because some miner or scalper offers it at like 900 bucks when its 1500 in store.
WAIT (if you can) till the next gen is out so it really forces prices down, then you can buy something second hand, screw them all.

 

[Caring1]

Asrock stating the obvious.

 

[AusWolf]

Oh I agree, something else to see:

https://twitter.com/i/web/status/1406269298423726084

Things are heating up and we might just start to see GPUs in stock in the near future.

I've already spotted a few RTX 3060s, 2060 Supers, 1650s and 3090s at UK retailers. RX 6700 XTs have started appearing in stock too.

 

[Legacy-ZA]

I've already spotted a few RTX 3060s, 2060 Supers, 1650s and 3090s at UK retailers. RX 6700 XTs have started appearing in stock too.

Same here in South-Africa, lots of stock, my problem though, is still the 3x scalping price the retailers are asking, so yeah, still not buying.

 

[Sithaer]

Same here in South-Africa, lots of stock, my problem though, is still the 3x scalping price the retailers are asking, so yeah, still not buying.

Same in Hungary.
Can find most cards from 1660-3080/Ti in stock but the prices are a diff story tho.
Just checked the retailer where I usually buy my brand new hardware and they have 9 different 6700XT, cheapest being 1200$.

 

[trog100]

3xxx ebay prices have dropped by around 30% from their peak.. i dont see them going down much more though...

gpu mining is still profitable just not so much so.. demand still exceeds retail supply..

trog

 

[AusWolf]

Same in Hungary.
Can find most cards from 1660-3080/Ti in stock but the prices are a diff story tho.
Just checked the retailer where I usually buy my brand new hardware and they have 9 different 6700XT, cheapest being 1200$.

I know. A friend of mine just bought a 2060 for 220,000 HUF (about 740 USD). I told him to wait, but... Oh well...

Same here in South-Africa, lots of stock, my problem though, is still the 3x scalping price the retailers are asking, so yeah, still not buying.

My problem is that the 3050 (Ti) is still not out yet, not to mention potential low profile variants that I'm eagerly waiting on.

 

[Sithaer]

I know. A friend of mine just bought a 2060 for 220,000 HUF (about 740 USD). I told him to wait, but... Oh well...

Yeah they go for ~700$ on the second hand market atm depending on the model/age/warranty left.

Still a very unhealthy market here, that card used to cost about half of that in ~2020 October or so. 'I was also considering buying one or a 5600XT back then but I ran out of time while saving up money'

 

[AusWolf]

Yeah they go for ~700$ on the second hand market atm depending on the model/age/warranty left.

He bought it at a retailer, so I guess he was "lucky"?

Still a very unhealthy market here, that card used to cost about half of that in ~2020 October or so. 'I was also considering buying one or a 5600XT back then but I ran out of time while saving up money'

Strange. You can find 2060s between 400-450 GPB (which is still too much) on ebay and facebook marketplace here. I guess UK stores get a bit more stock which helps drive second hand prices down.

 

[InVasMani]

It'll drop eventually, but then a new refresh of GPU tech will launch and it'll likely pick right back up again.

 

[Legacy-ZA]

He bought it at a retailer, so I guess he was "lucky"?


Strange. You can find 2060s between 400-450 GPB (which is still too much) on ebay and facebook marketplace here. I guess UK stores get a bit more stock which helps drive second hand prices down.

If people just refuse to buy, the market will correct accordingly, demand has shrunk considerably from miners. Retailers just haven't caught up with the program yet. If you buy any card now @ 3x MSRP, it will take more than 1 year to get your so-called "return of investment" mining 24/7, meaning, no gaming, that is also assuming prices remain the same, but so far they have just been falling and the future looks bleak. Anyone that buys a card now deserves to be ripped off, no sympathy from me.

 

[AusWolf]

If people just refuse to buy, the market will correct accordingly, demand has shrunk considerably from miners. Retailers just haven't caught up with the program yet. If you buy any card now @ 3x MSRP, it will take more than 1 year to get your so-called "return of investment" mining 24/7, meaning, no gaming, that is also assuming prices remain the same, but so far they have just been falling and the future looks bleak. Anyone that buys a card now deserves to be ripped off, no sympathy from me.

Agreed. Once stock gets better, people are going to buy like crazy at crazy prices, which will help prices stay high a while longer. That's just how people are.

 

[Legacy-ZA]

It'll drop eventually, but then a new refresh of GPU tech will launch and it'll likely pick right back up again.

Doubtful, as the next halving on Bitcoin is near 2024, which usually triggers a bull run, we will see RTX4000 launch way before then, also, ETH is moving to Proof-of-Stake, so the biggest mined blockchain won't be mined by GPUs any longer, but the delusional miners like to say they will just mine the next best thing, but it doesn't work like that, ETH is far more valuable than the other minable shitcoins, if all the hashing power moves to the so-called "next-best-thing" the payout will be substantially less and the difficulty will increase so fast everyone will mine a fraction of a penny, meaning net-zero profit if you look at the hardware you need to invest and electricity costs.

Anyways, people will find out the hard way and like I said, no sympathy from me, just how they had none for gamers who needed GPUs.

 

[INSTG8R]

I just did a quick search, an in stock Sapphire 6700XT Nitro in Norway is $1000 USD….Madness!

 

[R0H1T]

I've already spotted a few RTX 3060s, 2060 Supers, 1650s and 3090s at UK retailers. RX 6700 XTs have started appearing in stock too.

As a massive FU to many of these retailers, who were also fleecing customers, I ain't buying anything unless it's on deep discount, though it's a separate matter I was never in it for the top end parts

 

[sepheronx]

Nothing available here in Alberta Canada. And the listings are expensive.

I do see RTX 3060's (non ti) for $800 CAD on used market though.

 

[R0H1T]

I think shipping there takes a whole month or two (from China?) probably the same time you'll see these massive price drops

 

[Sithaer]

He bought it at a retailer, so I guess he was "lucky"?

Yea for a retail price thats pretty decent 'feels wrong to say that'.

Either way the real price drop wont happen here until ppl start mass selling their GPUs/mining rigs and the market gets flooded like last time.
Thats when I bought my current GPU in 2018 September with 2 and half years warranty left on it. 'still works perfectly fine, did a paste+thermal pad replacement earlier this year after it ran out of warranty but it wasn't in a bad condition'

Until then prices stay more or less the same.

 

[Chomiq]

Oh I agree, something else to see:

https://twitter.com/i/web/status/1406269298423726084

Things are heating up and we might just start to see GPUs in stock in the near future.

F*ck them all to death

 

[Rithsom]

F*ck them all to death

The miners had their fun, now it's time for us gamers to have fun once more.

That being said, we should not wish death upon them, but rather wish that they live to suffer the imminent pain.

 

[Mussels]