Editorial Bitcoin Drops Below the $40,000-mark, Raises Hopes of Graphics Card Availability

[Metroid]

Do not make the mistake of mining, mining is only good on bullruns and to make the best of it, you need to sell close to the top and 0.01% of traders does that, example, think how many people sold bitcoin around 69k that you know?, probably nobody, so forget, remember that mining is linked to hardware price and how much it gives at that time, buying coins is always better but buying coins at top or close to the top is always a very bad deal, buying coins is only good in a bear market and you need to make sure you buy close to the bottom, where is the bottom going to be? that needs some study of your part because holding coins for years is not good business, trust me.

 

[dragontamer5788]

Do not make the mistake of mining, mining is only good on bullruns and to make the best of it, you need to sell close to the top and 0.01% of traders does that, example, think how many people sold bitcoin around 69k that you know?, probably nobody, so forget, remember that mining is linked to hardware price and how much it gives at that time, buying coins is always better but buying coins at top or close to the top is always a very bad deal, buying coins is only good in a bear market and you need to make sure you buy close to the bottom, where is the bottom going to be? that needs some study of your part because holding coins for years is not good business, trust me.

It's not that hard to run a kill-a-watt on your mining rig and determine if you make as much money as your electricity bill. Especially in the winter, where the excess heat has use in heating your home.

The price of mining changes based off of many factors. But simple measurements can determine profitability with relative ease.

Factoring for air conditioning costs in the winter is the hardest part. But reasonable estimates can be made. (EDIT: Assume 1 to 1 ratio. 100W of heat requires 100W of air conditioners, which is a gross overestimate of air conditioning costs. Look up your air conditioners efficiency specs if you really care)

 

[Metroid]

It's not that hard to run a kill-a-watt on your mining rig and determine if you make as much money as your electricity bill. Especially in the winter, where the excess heat has use in heating your home.

The price of mining changes based off of many factors. But simple measurements can determine profitability with relative ease.

Factoring for air conditioning costs in the winter is the hardest part

Not against that, if mining helps you heating your house then go for it, better than to pay for gas, if gas is much more expensive, in my case is about cost benefit.

 

[Legacy-ZA]

Fasten your seatbelts trolls, btc is going back below 10k by the end of this year. Thank me later.


ETH is going much lower, right now it seems impossible but eth could crash back to below 300 usd, in 2018 eth crashed 95%, so I'd say do not rush to buy it, let it crash and by the way, gpus will become much cheaper than even msrp as crypto crashes because crypto miners will sell as fast as possible any gpus in hopes the loss is manageable.

I am not too sure about that, if you take past bull runs and data into account, even in a bear market, it will most likely not go below the 22k mark. Wish I was wrong but alas...

 

[Metroid]

I am not too sure about that, if you take past bull runs and data into account, even in a bear market, it will most likely not go below the 22k mark. Wish I was wrong but alas...

In bearruns, the bottom is lower than what makes mining bitcoin profitable and at moment is 15k, meaning below 15k very possible, now for how long it will stay below 15k, that is hard to say, i said flash crash below 10k very possible because selling climax is way lower than what is bare minimum for bitcoin which at moment is 15k, not sure if you can understand what I said and if it makes sense, I have been dealing with crypto since 2011, so far my predictions all came to be true. I wished I had taken most of my advices, how I trade and think is a little different, trading has no logic, my advices have and that is the problem. I still hold 20% on eth and wished I had sold at 4.5k, had a sell order at 4890 usd and it went as high as 4820 usd, my sell order was almost hit but it was not, sadly, now at 2300 usd, I'm not even thinking about selling it and I know this will crash much much harder but that is how it goes.

 

[Legacy-ZA]

In bearruns, the bottom is lower than what makes mining bitcoin profitable and at moment is 15k, meaning below 15k very possible, now for how long it will stay below 15k, that is hard to say, i said flash crash below 10k very possible because selling climax is way lower than what is bare minimum for bitcoin which at moment is 15k, not sure if you can understand what I said and if it makes sense, I have been dealing with crypto since 2011, so far my predictions all came to be true. I wished I had taken most of my advices, how I trade and think is a little different, trading has no logic, my advices have and that is the problem. I still hold 20% on eth and wished I had sold at 4.5k, had a sell order at 4890 usd and it went as high as 4820 usd, my sell order was almost hit but it was not, sadly, now at 2300 usd, I'm not even thinking about selling it and I know this will crash much much harder but that is how it goes.

Time will tell, all I want is, GPU prices to go back to normal in the end, this whole thing has been insane and beyond disgusting. I still can't believe how much I had to pay for my GPU, if my 660Ti still worked, I would have kept that GPU and system until this whole thing were sorted out.

Here is hoping my fellow gamers can get some good cards for a great price soon.

 

[dragontamer5788]

Time will tell, all I want is, GPU prices to go back to normal in the end, this whole thing has been insane and beyond disgusting. I still can't believe how much I had to pay for my GPU, if my 660Ti still worked, I would have kept that GPU and system until this whole thing were sorted out.

Here is hoping my fellow gamers can get some good cards for a great price soon.

The ~28k price crash a year ago wasn't enough to make GPU prices return to normal. It's have to be a crash there or lower before GPUs get liquidated from the miners.

 

[Legacy-ZA]

The ~28k price crash a year ago wasn't enough to make GPU prices return to normal. It's have to be a crash there or lower before GPUs get liquidated from the miners.

You can't compare it to that time, as difficulty has increased and at the same price point, it's way less profitable to mine, also, the price didn't stay there for very long, if the current trend continues, those prices will normalize faster than people think.

 

[R-T-B]

That's simply not true, there is a point when the price can drop so much that it's no longer feasible for most to pay thousands of dollars per card and have a reasonable ROI within sight. If what you claim was true then for example going all the way back to 2017 the prices of GPUs should have never dropped

The price drops during that time were purely due to bad publicity killing interest, which I noted. What I said IS true. People were making money when bitcoin was $20.00 on gpus, remember.

You can read the technical docs on how crypto works (particularly the sections on difficulty) to confirm this. Price has nothing DIRECTLY to do with profitablilty. It's the RATIO of price to difficulty... and price drops tend to bring difficulty drops.

Do not make the mistake of mining, mining is only good on bullruns and to make the best of it,

You really don't know how it works, do you?

IMO bullruns can be one of the worst times to mine, frankly. Too much difficulty rise from new interest.

The ~28k price crash a year ago wasn't enough to make GPU prices return to normal. It's have to be a crash there or lower before GPUs get liquidated from the miners.

It really has little to do with price, as I keep saying. Profitability has to do with the ratio of price to the amount of miners present, determined by general mining interest (how many new miners are flowing in). It's very complex and you can't model it with just a price on the market, you have to consider the human side.

Obviously, if the price is higher, more tend to come though, so a lower price may help marginally.

 

[Mescalamba]

If it dumps to 10k, some weaklings might sell mining gear, which would be nice, but keep in mind that those cards are basically tortured.

Anyway, current card problems wont change. You are seeing mix of inflation, chip shortage and manufacturers/sellers actually liking cards being expensive. Very easy to drive price up, very hard to make it go down.

 

[Metroid]

You really don't know how it works, do you?

IMO bullruns can be one of the worst times to mine, frankly. Too much difficulty rise from new interest.

There is no profit in the bear time, negative profit most of the time, you pay to mine, on bull time the difficulty takes time to rise as it grows with price and availability of gpus. Anyway, go to bitcointalk altcoins mining section and you will find out good threads about it that explain in detail.

 

[R-T-B]

There is no profit in the bear time

If you say so... lol. Not like I've done this rodeo or anything.

but keep in mind that those cards are basically tortured

I love that most people think that, makes for more cheap GPUs for those who realize there's nearly nothing wrong with them other than maybe the fans.

 

[Pumper]

BTC price might be down, but it's not even close to how low the mining profitability is now compared to a year ago (4x lower profit/day) when BTC price was about the same.

 

[Vya Domus]

The price drops during that time were purely due to bad publicity killing interest, which I noted. What I said IS true. People were making money when bitcoin was $20.00 on gpus, remember.

You can read the technical docs on how crypto works (particularly the sections on difficulty) to confirm this. Price has nothing DIRECTLY to do with profitablilty. It's the RATIO of price to difficulty... and price drops tend to bring difficulty drops.

So the entire mining industry at the time crashed because of bad publicity ? Like people were making money hand over fist and they went "Oh no, we must stop !".

OK.

 

[Unter_Dog]

Hmmm maybe that EVGA notify for a 3080 FTW3 Ultra Gaming will magically appear soon.

Mine keeps borking power supplies, regret getting rid of my titan xp. Be careful what you wish for.

Mining GPUs are run at a constant temperature, rarely power or temperature cycled, and run far below maximum power. Not to mention the person running the mining card has alot more reason to keep that card in good condition than the average gamer. I would choose an ex-minig card, over a general use card every time without question.

As a CI electronics engineer I endorse this. Based on my experiences more often thermal cycles kill faster than heat unless electronics were abused or poorly designed. Ele Caps usually are the first to die from time at temp which can be replaced and found easily.

you're talking about 100,000+ hours at a constant 80°C+ heat load

Isn't 100k hours like 11 years.

Most high quality power MOSFETs running at 80 C Junction will outlast most everything on a board. Will give you modern memory and Caps for sure if cooked will be an issue. Memory especially since it's much more specialized to replace.

I'd equate buying a mining car to buying a used rental. Need to be careful and could have been abused.

 

[Easo]

Thing is - FE's are being sold for under 1k.

That clearly does not include Latvia. We have fun things like these... https://www.1a.lv/c/datoru-komponentes-tikla-produkti/komponentes/video-kartes/2vs?f=ap9rZaq6m

In Europe? Scan, NBB, LDLC. That covers at least 9 countries, more if you play with B2B. Check PartAllert on discord, they've got successful order section.

Europe is a wide definition. Scan? No one outside UK will order anything from there since the Brexit due to import tax. Other countries at least usually means things like delivery expenses and more annoying warranty returns.
And the whole idea that you have to sit and hunt for that one piece of reasonably priced hardware sucks by itself.

Interesting. Crypto price drops, Nvidia responds by raising prices of their founders edition cards in EU.

Remember people, corpos are not your friends.

 

[Pilgrim]

I see that this article has attracted all the crypto bros lurking on this site.

 

[seth1911]

Bitcoin comes to a worse thing.
BTC was in the beginning a alterntaive for FIAT Money but now its just a trading product like real estate.

I dont have BTC, i dont need BTC, not my problem yeah bad for gpu but what else fuck it.

 

[Rob94hawk]

Only impatient suckers buy from scalpers.

 

[ShiBDiB]

No one mines Bitcoin with GPUs now.

This...

This is bad reporting by a site I expect better from. This is an uninformed article I'd expect to see on some no name blog site.

 

[grammar_phreak]

If Crypto prices do drop off the map and mining becomes barely profitable..... you'd probably see most small time miners sell off their equipment, while larger mining farms sell off their Polaris, Vega, and Pascal based equipment. In the end, I think a lot of these larger mining farms will see out those non-LHR Ampere cards on the 2nd hand market, except farms that are mining non-Ethash based Altcoins.
After the last crash, people didn't seem too motivated to increase or revamp their mining farms.

 

[lexluthermiester]

while larger mining farms sell off their Polaris, Vega, and Pascal based equipment.

Oh, they'll sell it all. Turing and Ampere cost to much to run, they're both power hogs.

 

[Dr. Dro]

Mine keeps borking power supplies, regret getting rid of my titan xp. Be careful what you wish for.


As a CI electronics engineer I endorse this. Based on my experiences more often thermal cycles kill faster than heat unless electronics were abused or poorly designed. Ele Caps usually are the first to die from time at temp which can be replaced and found easily.


Isn't 100k hours like 11 years.

Most high quality power MOSFETs running at 80 C Junction will outlast most everything on a board. Will give you modern memory and Caps for sure if cooked will be an issue. Memory especially since it's much more specialized to replace.

I'd equate buying a mining car to buying a used rental. Need to be careful and could have been abused.

Sure, might have put an extra 0 there, but anyway, it's not the case. It might not even be that component by itself that's gonna fail. It's that collectively GPUs do tend to fail after a 5-digit amount of hours at a heavy load. The caps are obviously the first to give in anyway.

 

[lemoncarbonate]

No matter how much bitcoin falls, we will no longer see normal prices on video cards ...

Corporate already saw the market's buying capability, they saw people are willing to spend $1500-1800 for a 3080. 6500XT is one prime example and what I'm afraid of future price release, just like $1000 phone back then. Where I live, it's already impossible to find a reasonable graphic card to buy. Mid range GPU would cost half almost the same or even more than the entire system without GPU.

Scalpers are also already thinking that scalping is a profitable "business". Even if bitcoin crashes even further, scalpers will still be around because they know this is easy money grab. I remember saw a video interview with a PS XBOX scalpers who said he has no regret or doesn't feel bad at all. He's even proud because he thinks he's helping other to make money from scalping "business" because based on his logic, whoever have the luxury to buy PS5 or XBOX should not mind spending extra 200-300 or more for it. The same goes for graphic card.

So yeah, if this continues PC gaming may become a hobby for the rich only.

 

[grammar_phreak]

Oh, they'll sell it all. Turing and Ampere cost to much to run, they're both power hogs.

The old non-LHR 3070's and 3060ti's do well.... and they're a lot more efficient at mining Ethereum than an RX 580 or GTX 1080ti.
It's like when those Chinese Bitcoin miners had to relocate to other countries. When they moved, they left their older and less efficient ASIC miners behind but they took their newer S19's and whatnot with them.

Corporate already saw the market's buying capability, they saw people are willing to spend $1500-1800 for a 3080.

And that's why Nvidia had no problem charging $1200 for the 2080ti and $700 for the 2080 back then. Remember how shocked and appalled everyone was over the price of Turding? I don't expect Nvidia to go easy on the pricing of Lovelace.