RIP Gamers, not even the 1080 Ti will save you now.

[tajoh111]

And this is why crytocurrency is not a viable alternative to real currency. All value of cryptocurrency is based on speculation and not tied to any real performance indicators.

As a result, it has the volatility of a penny stock without the backing of it's financial reports. This is the last thing currency should have. Stability is the most important thing for a currency to have to accepted by people, business and governments. When the value of a currency can drop 60+% over the course of 1.5 months(and this is all of them), it is not a currency. It is a pump and dump stock where people manipulating the market(big players) have all the power. The government knows this and this is why there are talks about the need for regulation.

Most of the people propping it up in this thread, even now, likely have money tied in it. Hence the don't sell and continue to buy so my so called investment doesn't sink.

Technical papers about blockchains are all meaningless in the face of the fact that a currency with zero stability is pretty much useless as a currency. Being backed by a powerful centralized government /central bank which ensure deposits, monitors supply and does what it can to stabilize the value is a good thing.

 

[AdamK47]

Ethereum is down $200 today. Things are looking good.

 

[KMFJD]

Yeah this shortage sucks because of the difficulty. It's a very time sensitive moment to try to get rigs going. I want to at very least get to 6 cards and then call it a day and keep mining with that. I had visions of buying land and going YUGE but the GPU shortage pretty much makes that impossible. Need to wait to see what happens with China and Bitcoin as a lot of ASICs might make their way to Canada.

I even wonder what would be involved in sponsoring someone from China who wants to move to Canada with their whole farm. I could provide the land, bulding, power, and internet, they provide the hardware. We both work on setting it up, and split 50/50 or something. Only thing it really depends how shotgun the Chinese government is about all this. They might just order farms to be completely destroyed so that the hardware can't leave the country. There is also the risk of being royally screwed in engaging in something like that. Really not sure what would be the best approach even if the opportunity came.

I just know that our government actually is looking into embracing crypto, so that is good news. They are looking at Ethereum especially.

they did that in Labrador City, didn't work out well

 

[bsp2020]

https://www.nicehash.com/profitability-calculator/amd-vega-frontier-edition?e=0.2&currency=USD

Nicehash profitability calculator still shows that mining is profitable. Does any one know if there is any lag in the coin price used in that calculation? With the heavy hit the coins took today, I was expecting mining to be a bit less profitable...

 

[Pandora's Box]

https://www.nicehash.com/profitability-calculator/amd-vega-frontier-edition?e=0.2&currency=USD

Nicehash profitability calculator still shows that mining is profitable. Does any one know if there is any lag in the coin price used in that calculation? With the heavy hit the coins took today, I was expecting mining to be a bit less profitable...

On the profitability page:

Please note that these values are only estimations - real values can be lower or higher. Exchange rate of 1 BTC = 7253.1 USD was used.

For me @ $0.07 per KWh my 1080 Ti is at $79 a month

 

[bsp2020]

On the profitability page:

Please note that these values are only estimations - real values can be lower or higher. Exchange rate of 1 BTC = 7253.1 USD was used.

For me @ $0.07 per KWh my 1080 Ti is at $79 a month

Ok. Thanks for pointing that out. It looks like it it will take heavier beating than what we saw today before graphics card demand goes back to normal. It looks like GPUs would still be profitable even if the coin price drop by another 60% from this level. At around $300 an ETH, it won't make sense to buy new GPUs but miners who already has the setup would probably keep them running.

 

[Qwertilot]

Unless they're getting worried about the resale value of their cards getting mauled by Volta that is..... That could, I think, logically make a few things move. Or not

 

[Aikouka]

Ok. Thanks for pointing that out. It looks like it it will take heavier beating than what we saw today before graphics card demand goes back to normal. It looks like GPUs would still be profitable even if the coin price drop by another 60% from this level. At around $300 an ETH, it won't make sense to buy new GPUs but miners who already has the setup would probably keep them running.

Keep in mind that based upon the values that he provided, it would take around 10 months to pay off a 1080 Ti. That's a pretty hefty ROI time especially given the volatility -- meaning it could just end up far worse. You can say that it's still profitable, but is it worthwhile? Eh... that's up to the end user.

 

[ub4ty]

Unless they're getting worried about the resale value of their cards getting mauled by Volta that is..... That could, I think, logically make a few things move. Or not

That Quiet but perfect storm..

 

[ub4ty]

Keep in mind that based upon the values that he provided, it would take around 10 months to pay off a 1080 Ti. That's a pretty hefty ROI time especially given the volatility -- meaning it could just end up far worse. You can say that it's still profitable, but is it worthwhile? Eh... that's up to the end user.

If you ever listen to the average coiner, they haven't even a basic understand of economics nor computer science. Things like ROI, capital equipment costs, depreciating assets never occur to them. They pop onto a website with a calculator and forget that its a static snapshot. The majority of clowns who've entered are most likely underwater at these price levels. Fee payouts are in the toilet as they're paid in coins. The calculators are likely not tied at all to fluctuating dynamics of the market as there are numerous variables unaccounted for. They'll be roasting their cards and burning through electricity soon and wondering how they're losing money given what the broken calculators have told them. 10 months to break even... in a declining market. Sounds like hell. New product launch causing immediate depreciation of the old... Not at all factored in. It was funny watching prices go from $900 for a 1070 to $600 in a week or two as the market collapsed. Now you can carefully find them for MSRP. Calculators don't account for the morons who bought GPUs and double MSRP. They don't account for the summer month utility rates and overages. It's over and like you see time and time again, there will be tons of people chained on to the sinking ship as it goes under.

Everyone told wallstreet to turn off the computers and stop with the algo trading/market making yet they kept them running...
https://www.marketwatch.com/story/d...uter-driven-selling-amplifies-rout-2018-02-05

Distance yourself from these fools.. They're heading for a reckoning.
Let their busted out GPUs rot on ebay when the time comes. Check their ebay history on third party sites and look for someone offloading multiple used cards >2 in short succession. Ask for verification information related to it being used for gaming... There goes your miner. It will be a buyer's market soon...

 

[Head1985]

Bitcoin down to 6000usd and ether soon at 600usd

 

[VirtualLarry]

You've got some salient points ub4ty.

I bought my GTX 1070 ti for $525 or so from Newegg at the beginning of Jan. I forget exactly how much the NiceHash mining calculator said that I could make with that card, but it was substantial. Looking at an ROI of under 3 months, I think - at then-current coin values and mining difficultly.

But it's that snapshot in time, that people get attached to (like a first impression), and then when the CC market takes a nosedive for a while, and mining difficultly ramps up, because so many other "fools" are now mining, again, based on seeing that snapshop, well, things don't always turn out so rosy, or at least, aren't without their ups and downs.

I started mining, before I got that GTX 1070 ti, back in like Sept. 2017. Was making maybe $60/wk (back when Bitcoin was just peaking over $3000, and people were amazed back then). Mining difficultly was lower, so my existing graphics cards were cranking out some shares pretty consistently.

But then the difficultly started to ramp up, and I was getting payouts, based on the min. payout, not every week, but every two weeks, then four weeks, then... well, NiceHash got hacked, and I figured, well, they're done, time to find something else profitable to do with my PC instead.

But thanks to a member here, in very late Dec. 2017 / early Jan 2018, I started again, and because of the nearly-meteoric rise of the value of Bitcoin, and all associated altcoins, my profitability was back up. With the new GTX 1070 ti, and a RX 570 Gaming X purchased a week or so into Jan., I was making like $15-18 / day after cash-out fees (Coinbase).

Not too shabby, really, for just hosting a room full of PCs. I don't have any dedicated miners, unless you count my one machine with four PCI-E x16 slots, that I bought years ago for DC work. I just cobbled together my main PCs, and shoved a bunch of GPUs in them. Both older (260X 2GB, 270X 2GB), and newer (RX 460, 470, 570), and of course, the GTX 1070 ti, the most expensive piece of PC gear that I think that I've EVER purchased. (I buy mostly entry-level stuff, though I bought into Ryzen when it first came out, and that purchase really paid off, as those CPUs can even mine profitably.)

I haven't totaled it up completely, but I think that I may have actually cleared almost $500 in Jan., at least $400, just mining. Which nearly paid for the GTX 1070 ti, it wasn't pure profit yet.

So now, in Feb., I'm earning $8-10/day, which is still profitable, but just barely. Hoping that Bitcoin goes up in value again, and that mining difficultly decreases. I still need to make ROI for the RX 570 Gaming X, and this "HP Power Gaming" PC I picked up in early Dec., for $500+tax at Walmart, with a GTX 1060 3GB in it. Been mining on that one too.

One thing that bugs me a little about NiceHash, is that their estimated earnings are, as difficulty increases, way off. You only seem to get paid, when you actually hit a "share", but the earnings estimation is based on your hash-rate, whether or not you're actually earning a thing, because you're not hitting as many shares. So my combined estimated earnings, are probably around $20-25, but because I'm not hitting as many shares, my actual earnings are down to $8-10/day.

Edit: At this (downward) rate, I'll be lucky if mining covers the cost of my gigabit internet connection + electricity costs. (Which are mostly theoretical to me, since my rent covers it, because I have electric heat, but I still try to keep track somewhere, and not run miners if that would be unprofitable, if I had to pay for electricity.)

 

[nitromullet]

Ethereum is down $200 today. Things are looking good.

Oh noes! What about the happy couple!?!

...just in time for Valentine's day!

 

[Charlie22911]

Glad to see things deflating, Bitcoin seems to have become some strange perversion of itself in the last year. I guess if you inject enough wealth into anything it will become corrupt. In fact I’m having a hard time thinking of a case where that’s not true.

 

[Pandora's Box]

https://www.reddit.com/r/pcmasterra...s_the_mass_selloff/?utm_source=reddit-android

 

[NomanA]

Ethereum down around 28% today, and is below $600 level. It's back at early December prices. A 30% additional drop will get us to Nov levels of $450, and from then on, we can easily reach $100-200 level. The high prices of GPUs, rising difficulty of mining, and huge pricing drops combined should kill the Ethereum mining scene in short order.

Lloyds bank banned use of their credit cards to purchase cryptocoins today. Bank of America and JP Morgan started blocking a couple of days ago. Citibank is about to jump on the bandwagon too. The price volatility is too much, and these companies have seen many credit accounts recently with huge debt (built up by purchasing coins) that can't be covered due to the sheer drop in valuation.in past few weeks.

 

[Pandamonia]

Burn baby burn...

Keep On falling...

Burn baby burn..


I hope everyone who jumped on this bandwagon loses enough money they will never buy another gpu.

Can't wait to see the cry babies with 8 1080tis and no crypto to pay for them. There is no way the people who raided the 1080tis will see a return at this rate hahahahahahahah

Sent from my SM-G955F using Tapatalk

 

[Pandamonia]

On the profitability page:

Please note that these values are only estimations - real values can be lower or higher. Exchange rate of 1 BTC = 7253.1 USD was used.

For me @ $0.07 per KWh my 1080 Ti is at $79 a month

I'm guessing assholes in America are burning coal to get electricity for 7 cents per kwh. I'm 100% renewable buying at wholesale price at 9 pence per kwh. 1.4 cents to the penny so you do the math.



Sent from my SM-G955F using Tapatalk

 

[Pandora's Box]

I'm guessing assholes in America are burning coal to get electricity for 7 cents per kwh. I'm 100% renewable buying at wholesale price at 9 pence per kwh. 1.4 cents to the penny so you do the math.



Sent from my SM-G955F using Tapatalk

It's clean coal though

 

[tential]

If you ever listen to the average coiner, they haven't even a basic understand of economics nor computer science. Things like ROI, capital equipment costs, depreciating assets never occur to them. They pop onto a website with a calculator and forget that its a static snapshot. The majority of clowns who've entered are most likely underwater at these price levels. Fee payouts are in the toilet as they're paid in coins. The calculators are likely not tied at all to fluctuating dynamics of the market as there are numerous variables unaccounted for. They'll be roasting their cards and burning through electricity soon and wondering how they're losing money given what the broken calculators have told them. 10 months to break even... in a declining market. Sounds like hell. New product launch causing immediate depreciation of the old... Not at all factored in. It was funny watching prices go from $900 for a 1070 to $600 in a week or two as the market collapsed. Now you can carefully find them for MSRP. Calculators don't account for the morons who bought GPUs and double MSRP. They don't account for the summer month utility rates and overages. It's over and like you see time and time again, there will be tons of people chained on to the sinking ship as it goes under.

Everyone told wallstreet to turn off the computers and stop with the algo trading/market making yet they kept them running...
https://www.marketwatch.com/story/d...uter-driven-selling-amplifies-rout-2018-02-05

Distance yourself from these fools.. They're heading for a reckoning.
Let their busted out GPUs rot on ebay when the time comes. Check their ebay history on third party sites and look for someone offloading multiple used cards >2 in short succession. Ask for verification information related to it being used for gaming... There goes your miner. It will be a buyer's market soon...

My AT&T installer is mining Bitcoin with a GTX 1050.
When I asked about ROI/etc. he just looked at me blankly.
Trying to talk about mining for making a better profit was just not a conversation that he was equipped to have. Most people just aren't wired that way.

@Pandamonia
So frustrating to see how we are terrible at using power. Things like solar should be mandatory for certain homes/business at this point.

 

[TempAcc99]

And this is why crytocurrency is not a viable alternative to real currency. All value of cryptocurrency is based on speculation and not tied to any real performance indicators.

As a result, it has the volatility of a penny stock without the backing of it's financial reports. This is the last thing currency should have. Stability is the most important thing for a currency to have to accepted by people, business and governments. When the value of a currency can drop 60+% over the course of 1.5 months(and this is all of them), it is not a currency. It is a pump and dump stock where people manipulating the market(big players) have all the power. The government knows this and this is why there are talks about the need for regulation.

Most of the people propping it up in this thread, even now, likely have money tied in it. Hence the don't sell and continue to buy so my so called investment doesn't sink.

Technical papers about blockchains are all meaningless in the face of the fact that a currency with zero stability is pretty much useless as a currency. Being backed by a powerful centralized government /central bank which ensure deposits, monitors supply and does what it can to stabilize the value is a good thing.

I agree with you about bitcoin BUT:
Ethereum isn't a cryptocurrency it's a so called turing complete world computer. The currency itself (ETH) simply exists to pay for calculations (smart contract) on that world computer. So it's current value is as you say based on speculation but not as it's use as currency but as world computer which could replace the need for banks. Think about that. Replay banks. Hence the possible value of ETH is very, very high if that comes true. So there actually is some real future value in ETH. Not so much in Bitcoin however.

 

[Pandamonia]

It's clean coal though

Not for 7 cents a kwh it's not.

If it's carbon capture which I really really doubt it is. It's costs are on par with green energy but the benefit is power on demand. That energy price is literally half what I'm paying for renewable.

Sent from my SM-G955F using Tapatalk

 

[Pandora's Box]

Not for 7 cents a kwh it's not.

If it's carbon capture which I really really doubt it is. It's costs are on par with green energy but the benefit is power on demand. That energy price is literally half what I'm paying for renewable.

Sent from my SM-G955F using Tapatalk

I was being sarcastic. Pretty sure its nuclear power.

 

[Pandamonia]

I was being sarcastic..

Sorry hard to detect lol

Sent from my SM-G955F using Tapatalk

 

[Feld]

I'm guessing assholes in America are burning coal to get electricity for 7 cents per kwh. I'm 100% renewable buying at wholesale price at 9 pence per kwh. 1.4 cents to the penny so you do the math.



Sent from my SM-G955F using Tapatalk

I pay 7.8 cents per kWh for 100% wind power in the US.