The State of Cryptocurrency

[R-T-B]

It'll dead cat bounce at some point, more low level investors thinking they can save themselves by doubling down will jump in and then this thing will tank even further.

So you say.

 

[TheoneandonlyMrK]

Affirmative. That said, do not expect this to be the last time there is a shortage.

I would agree memory is in short supply still is for six months ish i don't see any changes regardless , I've mined 8 months , hit roi in 6 and have had four oh f##k minings dead moments, and it's not died yet ill switch to folding coin if it gets unprofitable but ill run even lower power, either way im not too fussed the fishtank miner/folder ideas nearly there.

 

[jboydgolfer]

It'll dead cat bounce at some point, more low level investors thinking they can save themselves by doubling down will jump in and then this thing will tank even further.

I've already bought my popcorn ,just waiting for the show to start

 

[R-T-B]

I've already bought my popcorn ,just waiting for the show to start

Meh, I sense you'll be dissapointed and frustrated by years end, but hey, why not be filled with glee at anothers misfortune? It fills me with TPU-spirit. /s

...I don't like what this trivial issue has done to our community. You guys should be looking at yourselves hard, right now.

 

[yotano211]

I dont care if it crashes. The money that I sent on graphics cards is expendable to me. Some people have extra money to buy race cars, I had extra money to send on graphics cards. I got in when profits where 4x what today is and when cards where selling for under retail price. All cards are paid for and I made extra income to add to the retirement account and without selling not 1 of my own cards.
All cards that I sold where to other miners in groups of 6x or fully built mining machines.

 

[Papahyooie]

You see that giant wall at 6550? Yea... that's why I'm not worried.

 

[jboydgolfer]

Meh, I sense you'll be dissapointed and frustrated by years end, but hey, why not be filled with glee at anothers misfortune? It fills me with TPU-spirit. /s

...I don't like what this trivial issue has done to our community. You guys should be looking at yourselves hard, right now.

People are always gonna do what their going to do. I never said I was going to take pleasure in misfortune, I just said I was gonna watch the show.

I won't be disappointed because I have no stock in it. As I said before, popcorn & a show

& with all due respect. i have no need for anyone to tell me to take a hard look at myself. MY moral compass is just fine.

 

[R-T-B]

People are always gonna do what their going to do. I never said I was going to take pleasure in misfortune, I just said I was gonna watch the show.

I won't be disappointed because I have no stock in it. As I said before, popcorn & a show

& with all due respect. i have no need for anyone to tell me to take a hard look at myself. MY moral compass is just fine.

I was speaking to TPU as a whole. It's gotten bad here as of late. Your quote was mostly coincidental. I just want to see the glee at misfortune stop.

 

[jboydgolfer]

im sorry if that was the case, but you'll have to forgive my misunderstanding.....

 

[R-T-B]

im sorry if that was the case, but you'll have to forgive my misunderstanding.....

No, forgive me. I started off quoting you and then began speaking broadly. It was not clear.

 

[moproblems99]

I was speaking to TPU as a whole. It's gotten bad here as of late. Your quote was mostly coincidental. I just want to see the glee at misfortune stop.

It's the point I have been trying to get across for the last week, although not as eloquently. I don't understand why people are so excited for people's misfortune. Are they happy the 'real' markets were down so much today? I mean, investors are the reason that companies have to endlessly pursue profits so cut-down chips are now priced at 'top end' (we will casually ignore AMD's ineptitude at the moment) EDIT: and ghast, microtransactions..... I don't wish for people's houses to get broken into and possessions stolen. Yet, multiple occasions people have commented how they hope hacker's 'do their job'.

It's gross.

Then again, it really is a great microcosm of the global state of affairs.

 

[jboydgolfer]

Let's keep in mind ,your foot doesn't get burned in hot water unless you put it in the tub. It's all voluntary the good and the bad. This is the nature of risk. If you throw on top of that ,the fact that your particular risk action effects those not taking the risk (by driving prices for items they use for other purposes) through the roof ,yes... I think that some animosity is a reasonable expectation by any person with a decent head on their shoulders, or atleast one that's not delusional.

If I suddenly went out ,and bought every motherboard on the market and caused the price to skyrocket by four or five times, I would 110% expect animosity and hate from those it affected .
im not saying the animosity is bad or good, but it IS 100% expected, and natural. claiming people are "immoral" or anything other than reacting expectedly, is (IMO) a tad high horsed

 

[ShiBDiB]

I mean if we're talking actual real money economy (har har) than while stocks dipping would hurt, it's also better they dip sooner than crash later.

Same goes for crypto, the price was driven by big investors jumping in because they saw a way to make money on an unsustainable wave for an intangible currency based on nothing. Some little guys made out ok but I'd hazard most rode the wave up, and rode is back down as well.

Crypto was and will be a "fun" speculative investment. Meaning you don't invest something you can't afford to lose. Which is what I think a few too many people did, they saw dollar signs (or euro squiggle things) and cashed out of proven investments based off of hype without actually understanding that it was a palace built on sand.

So I do not get joy out of misfortune, but I do admittedly get joy out of for lack of a better word stupidity. Which is what putting your life savings (or your banks via your cc's) into crypto really is.

 

[Sasqui]

It's the point I have been trying to get across for the last week, although not as eloquently. I don't understand why people are so excited for people's misfortune.

Dare I say it's because graphics cards may once again be obtainable?

I don't think there's so much glee involved... it's morbid fascination. Like watching a bad car crash from the comfort of your car in a traffic jam.

 

[FordGT90Concept]

Are they happy the 'real' markets were down so much today?

I am because money has been too cheap for too long (since "Quantative Easing" program began).

 

[R-T-B]

Dare I say it's because graphics cards may once again be obtainable?

Yeah, there's that. But anyone who understood the situation knew the shortage would not last long. Part of why all the hoopla about it was retarded...

I am because money has been too cheap for too long (since "Quantative Easing" program began).

I'm unsure what that even means, and am frankly somewhat confused as to what you would consider ideal?

 

[FordGT90Concept]

https://en.wikipedia.org/wiki/Quantitative_easing#US_QE1,_QE2,_and_QE3

When it began:
Dow Jones down 4.3 percent since Fed chair Ben Bernanke took the podium

Interest rate was 2% and it's fallen to ~0% since then. Now the economy has finally recovered from the 2008 collapse and interest rates are going to start going up. Stock market is never happy about interest rates changing. The underlying data is good though so...*shrug*...to the DJIA falling.

 

[moproblems99]

Dare I say it's because graphics cards may once again be obtainable?

It has been two months?!

 

[R-T-B]

It has been two months?!

Exactly. The overreaction was very very severely vehement over what? A frickin 2 month shortage... I mean that just boggles my mind.

 

[FordGT90Concept]

But shortages...create backorders. If production stays the same, the backorders get bigger and it takes longer for the entire market to be satisfied. Ehm, if the mining demand vanished right now, it would be months (at best) before cards would be in stock everywhere again.

And think of the people that are hurt the most by this: people buying new computers and people buying replacement cards because theirs died. In the former group, the cost of a new gaming machine has gone up hugely. In the latter group, people end up with a downgrade simply because merely matching what they used to have is a costly proposition.

"Overreaction," no. It's the expected reaction. Doesn't matter what commodity has it's supply/demand chain disrupted, these trends are expected to follow. Case in point: look at grocery stores before a bad storm or fuel stations before a hurricane is about to hit. Warehouses aren't really a thing anymore: goods are produced and consumed in short order so any disruption in the formula quickly becomes a major disruption.

Any mining is a special kind of crazy. When it's on the upswing, it is impossible to produce enough hardware to satisfy demand. On the downswing, the market gets flooded with orphaned hardware. There's no wining with mining if you're a hardware vendor.

 

[moproblems99]

Ehm, if the mining demand vanished right now, it would be months before cards would be in stock everywhere again.

If mining demand vanished right now, people could hit ebay for whatever they wanted at a price they could only imagine.

 

[Divide Overflow]

You see that giant wall at 6550? Yea... that's why I'm not worried.

View attachment 96797

https://www.reddit.com/r/gifs/comments/4fg52u

 

[R-T-B]

If mining demand vanished right now, people could hit ebay for whatever they wanted at a price they could only imagine.

This. You guys are going to be getting hardly used 1080TIs at a price you could only dream of.

Mining these days is not abusive.

 

[FordGT90Concept]

If there isn't retail supply to drive the price down, the ebay prices aren't going to change much. Just a larger volume of second-hand cards on there.

 

[moproblems99]

If there isn't retail supply to drive the price down, the ebay prices aren't going to change much. Just a larger volume of second-hand cards on there.

Except most of the cards hitting ebay will have already been paid for so anything is a bonus.