Question are video card prices headed down yet?

[DeathReborn]

The claim to which I responded was that there are no cards in stock. This is false. It is true that the prices are still inflated.

Just some anecdotal data backing up what you said with the added info that with the cheapest going in & out of stock shows that the market is still over priced and has not yet corrected itself.

 

[VirtualLarry]

Just some anecdotal data backing up what you said with the added info that with the cheapest going in & out of stock shows that the market is still over priced and has not yet corrected itself.

Oh, but it has "corrected". ETH mining is back on the table, for those people with low electric rates or included in rent (like me). Hence the price drop on Nvidia GPUs, especially those that are good for mining efficiency has slowed or even partially reversed.

The delay of the difficulty bomb for another two months, has brought a much-needed bump to revenue for mining ETH.

 

[Ajay]

The delay of the difficulty bomb for another two months, has brought a much-needed bump to revenue for mining ETH.

What is the ‘difficulty' bomb?

 

[VirtualLarry]

What is the ‘difficulty' bomb?

A piece of code residing on the Ethereum network, that artificially increases network difficulty beyond the normal network difficulty. Watch some of RedPandaMining's YT vids.

 

[Aapje]

What is the ‘difficulty' bomb?

Mining difficulty is how much effort it takes to mine a coin. Like Larry said, they increase it artificially (and gradually) to make mining less and less profitable, forcing people to proof of stake.

Basically, proof of stake itself won't make mining unprofitable. It's the difficulty bomb that will do that.

So this also means that when they switch to proof of stake, mining will not stop being profitable right away.

 

[Ajay]

Thanks for the answers guys . I thought the increasing difficulty was a gradual process built into the algorithms that depended on the number of coins remaining. Didn’t know it was artificially determined.

 

[Fanatical Meat]

Yeah I though mining was essentially a super long math problem that got more difficult as “coins” were created. I had no idea it was controlled directly like that.

 

[Aapje]

Yeah I though mining was essentially a super long math problem that got more difficult as “coins” were created. I had no idea it was controlled directly like that.

The normal difficulty is not set artificially, but by looking at how often blocks were mined in the recent past. The bomb adds an artificial difficulty on top of that.

 

[VirtualLarry]

Yeah I though mining was essentially a super long math problem that got more difficult as “coins” were created. I had no idea it was controlled directly like that.

Ethereum is a centralized (power rests with the devs) crap coin. It's value went down significantly, when Vitelek said that after PoS, any attackers deposits could just be "deleted".

So much for "code is law" (a running joke for Ethereum), decentralization, immutability, etc.

I just wonder what year in the future, the EF plans the rug-pull. (Ethereum, was pre-mined, don't you know, with a number of high-dollar "whale investors" behind it.)

Edit: Ok, I'm a "bitter miner" after my hopes of living off of my mining operations were doused when EIP-1559 burned all the tasty, tasty fees. Just cause Vitilek hates miners, and thought that they were "overpaid".

77Mil ETH in pre-mine, to date, only 44Mil ETH mined.

 

[igor_kavinski]

Problem with mining (this coming from a complete cryptonoob) is the fixed rewards regardless of how much computing power is spent calculating the blockchain hashes. If a certain block takes twice the computing power or twice as long to generate, it should be rewarded with twice the coins. Not a proponent of mining but I think it's unfair in how much energy is wasted for fixed returns.

 

[Aapje]

Problem with mining (this coming from a complete cryptonoob) is the fixed rewards regardless of how much computing power is spent calculating the blockchain hashes. If a certain block takes twice the computing power or twice as long to generate, it should be rewarded with twice the coins. Not a proponent of mining but I think it's unfair in how much energy is wasted for fixed returns.

The idea was that Moore's Law would effectively do that over time.

 

[DrMrLordX]

Ethereum is a centralized (power rests with the devs) crap coin.

Hmm.

Edit: Ok, I'm a "bitter miner" after my hopes of living off of my mining operations were doused when EIP-1559 burned all the tasty, tasty fees. Just cause Vitilek hates miners, and thought that they were "overpaid".

Hey at least you're honest. You spend too much time watching that horrible crypto youtuber with the huge nose.

77Mil ETH in pre-mine, to date, only 44Mil ETH mined.

lol how much early BTC was mined before anyone even knew how to run mining software?

 

[Leeea]

Oh, but it has "corrected". ETH mining is back on the table, for those people with low electric rates or included in rent (like me). Hence the price drop on Nvidia GPUs, especially those that are good for mining efficiency has slowed or even partially reversed.

Lucky you, Eth needs to get above 1300 before I can break even.

and I am not in the business of speculating.

 

[moonbogg]

Eth needs to get below $300 before I can let myself truly belly laugh.

 

[DrMrLordX]

Eth needs to get below $300 before I can let myself truly belly laugh.

Looks like there's too much resistance to price movement below $1000. But here's hoping!

 

[amenx]

Oh, but it has "corrected". ETH mining is back on the table, for those people with low electric rates or included in rent (like me). Hence the price drop on Nvidia GPUs, especially those that are good for mining efficiency has slowed or even partially reversed.

The delay of the difficulty bomb for another two months, has brought a much-needed bump to revenue for mining ETH.

I wonder if the administrator or key guy @ ETH is being paid under the table by Nvidia to keep delaying the difficulty bomb for as long as possible. POS has been delayed multiple times over last couple years, hasnt it? Its become a joke.

 

[Aapje]

I wonder if the administrator or key guy @ ETH is being paid under the table by Nvidia to keep delaying the difficulty bomb for as long as possible. POS has been delayed multiple times over last couple years, hasnt it? Its become a joke.

They just underestimated the amount of work.

That's pretty common in IT. When you write down a new feature it tends to look easy, but the more you get into the details, the more problems you tend to discover.

 

[jpiniero]

If anything the difficulty suddenly dropped. 3080 @ 15c/kwh is nearing a dollar a day.

 

[GunsMadeAmericaFree]

So early September is when we should really see the video card prices drop?

 

[jpiniero]

So early September is when we should really see the video card prices drop?

Presumably if nVidia and AMD are smart, by then they will have flushed the current gen inventory down to a manageable level.

 

[Shmee]

Also, next gen cards coming this year. Not sure exactly when though.

 

[GunsMadeAmericaFree]

Also, next gen cards coming this year. Not sure exactly when though.

Ha - probably not released until they sell off most of the current inventory......

 

[moonbogg]

Retailers still think there's a mining boom according to the still stupid GPU prices everywhere. You STILL can't get a 3080 for $700 new. I still see 3080 12GB versions on best buy for $1400. That's double the 3080 msrp. Who's paying another $700 for 2GB of ram?

 

[jpiniero]

Retailers still think there's a mining boom according to the still stupid GPU prices everywhere. You STILL can't get a 3080 for $700 new. I still see 3080 12GB versions on best buy for $1400. That's double the 3080 msrp. Who's paying another $700 for 2GB of ram?

There's a Gigabyte model for $769 available.

 

[Shmee]

To be fair to the 3080 12GB, the big performance increase it gets is not from the extra 2GB of RAM really, but from the wider memory bus. It has performance closer to the 3080Ti than the 3080 10GB card. Of course $1400 is way too much for either. They should be around $900 tops IMO. About equivalent to the 6900XT but with less memory still. IMO all three of these cards would be fairly priced around $750 to $900. Which I have seen deals on them in this range.