Question are video card prices headed down yet?

[moonbogg]

Nvidia took a 10 percent hit on the exchange today. That had to sting a bit.

Maybe investors know about the GPU flood coming and also know the soon to be released 4090 and 4080 will be so expensive, the only person with enough money to buy one will be Jensen himself. With Jensen personally buying the entire 4000 series himself because no one else can, it's like a stock buyback, but dumber.

 

[VirtualLarry]

With Jensen personally buying the entire 4000 series himself because no one else can, it's like a stock buyback, but dumber.

No, it's like, buying cards to scalp, and then scalping them to customers, Nvidia-direct-like.

 

[DrMrLordX]

Nvidia took a 10 percent hit on the exchange today. That had to sting a bit.

There were a lot of losers yesterday. Stocks go up, stocks go down. Such is life.

 

[igor_kavinski]

Any particular bit of news that triggered that stock dip?

 

[DrMrLordX]

Any particular bit of news that triggered that stock dip?

Not really on-topic for this thread, but inflation + expected interest rate hikes = bloodbath

 

[VirtualLarry]

"Some of us are thinking don't wait too long though. We could see the next boom in GPU sales specifically for new retail if a couple of algos are even slightly profitable or break-even after the migration. " - reddit user

The flip-side of the merge? GPU prices might start heading up again?

 

[mastertech01]

"Some of us are thinking don't wait too long though. We could see the next boom in GPU sales specifically for new retail if a couple of algos are even slightly profitable or break-even after the migration. " - reddit user

The flip-side of the merge? GPU prices might start heading up again?

How can they predict profitability with inflation eating away their profits and utility rates unstable as they are? Heating bills this winter will also gnaw away at everyones budgets.

 

[maddie]

How can they predict profitability with inflation eating away their profits and utility rates unstable as they are? Heating bills this winter will also gnaw away at everyones budgets.

Hope springs eternal.

 

[jpiniero]

How can they predict profitability with inflation eating away their profits and utility rates unstable as they are? Heating bills this winter will also gnaw away at everyones budgets.

By profitability all they mean is that the rewards are worth more than their electricity cost. Even in the US I imagine there's plenty of places where electricity costs are still low.

 

[Shivansps]

The merge is in a couple days. Google put up a countdown timer for searches for the merge.

yay, miners moving to alternative algos like RVN that uses way more power and generate more heat.

ETH was actually energy efficient in comparison to others algos. People expect this to discourage mining, and while it may certanly do it in Europe, the only thing it is going to do is to increase the amount of power used by mining.

 

[Aapje]

that I originally never claimed that you deprived gamers of a card

Aapje said:

You alone kept at least 10 perfectly viable 1080p cards out of the hands of gamers.

Hmm.

I've already explained that miners kept cards out of the hands of gamers, but that the question of whether this means that gamers were deprived of a card depends on the extent to which extra GPUs were produced due to mining.

But I think that it is simple fact that if you and no other miners had existed, those 1660 S's that you bought would have gone to gamers instead.

Duh. He bought these before there were shortages, remember? And again they were already old/previous gen by the time he bought them too, so they weren't even "new" product!

I dispute that they were old in the sense that it was a purely second hand product. I know for a fact that 1660 S cards were still sold as new at the end of 2020, as I bought one myself. At that time, as well as during the crisis, they were seen as a perfectly viable lower tier card.

And that someone buys before a huge shortage occurs, doesn't mean that they didn't have an impact on that shortage. The impact can both be positive or negative depending on the specifics.

And it's a bit silly that people keep telling me that I'm putting all the blame on Larry or that I'm angry at him for mining, neither of which is true.

 

[Aapje]

"Some of us are thinking don't wait too long though. We could see the next boom in GPU sales specifically for new retail if a couple of algos are even slightly profitable or break-even after the migration. " - reddit user

The flip-side of the merge? GPU prices might start heading up again?

This is just speculation, by someone who IMO doesn't understand what he is talking about.

 

[amenx]

yay, miners moving to alternative algos like RVN that uses way more power and generate more heat.

ETH was actually energy efficient in comparison to others algos. People expect this to discourage mining, and while it may certanly do it in Europe, the only thing it is going to do is to increase the amount of power used by mining.

Pre merge, Eth constituted more than 94% of GPU mining which by far outstripped all other coins combined in energy consumption. Pretty sure a post merge shift to other coins will tremendously increase the difficulty of these coins to a point of unprofitability. I doubt any of the current alt coins can reach the trading volume and appeal that Eth had for GPU mining that could constitute an impact on GPU pricing and inventory shortages any time soon.

 

[GodisanAtheist]

Pre merge, Eth constituted more than 94% of GPU mining which by far outstripped all other coins combined in energy consumption. Pretty sure a post merge shift to other coins will tremendously increase the difficulty of these coins to a point of unprofitability. I doubt any of the current alt coins can reach the trading volume and appeal that Eth had for GPU mining that could constitute an impact on GPU pricing and inventory shortages any time soon.

- Exactly. The secret sauce with Ethereum/Bitcoin was the speculative money. There were non-miners trying to get rich quick dumping tons of money into ETH, which kept the price of the coin far ahead of whatever increases in difficulty/drop in profitability there was to mine the coin.

Speculative money is gone now. Anyone left holding the bag after crypto imploded here is going to be thrice shy, interest rates are going back up and we're looking at an era of "expensive money" ahead of us, inflation is taking a bite out of everyone's wallet etc.

So if crypto miners point themselves at another coin, difficulty is going to skyrocket, but the actual value of the coin either won't keep pace or will inflate as well, meaning miners will actually be taking an L on the balance sheet between energy costs to mine and price of the card vs the coins they're getting.

 

[mastertech01]

The ETH pyramid scheme has seen its glory days and now will collapse like all vapor ware currencies inevitably will.

 

[fleshconsumed]

The ETH pyramid scheme has seen its glory days and now will collapse like all vapor ware currencies inevitably will.

LOL why? ETH will do just fine unless something goes wrong during the merge.

ETH price does not depend on whether it's PoW or PoS. People buying ETH don't care about the underlying consensus mechanism. If anything, ETH should appreciate since there will no longer be selling pressure from all the miners who have to continuously cover operating costs.

 

[mastertech01]

LOL why? ETH will do just fine unless something goes wrong during the merge.

ETH price does not depend on whether it's PoW or PoS. People buying ETH don't care about the underlying consensus mechanism. If anything, ETH should appreciate since there will no longer be selling pressure from all the miners who have to continuously cover operating costs.

If thats your dream, follow it.

 

[jpiniero]

10 hours to go to The Merge. Doesn't seem like the miners are shutting down.

 

[GodisanAtheist]

The biggest problem with crypto, even outside of issues caused by mining, is what the hell do people actually use it for outside of speculation? Buying illegal **** and... anything else?

 

[VirtualLarry]

10 hours to go to The Merge. Doesn't seem like the miners are shutting down.

/starts playing "Highway to Hell", in honor of The Merge.

 

[mastertech01]

10 hours to go to The Merge. Doesn't seem like the miners are shutting down.

Its like gambling at the casino, they cant stop till they lose it all.

 

[DrMrLordX]

Pre merge, Eth constituted more than 94% of GPU mining which by far outstripped all other coins combined in energy consumption. Pretty sure a post merge shift to other coins will tremendously increase the difficulty of these coins to a point of unprofitability. I doubt any of the current alt coins can reach the trading volume and appeal that Eth had for GPU mining that could constitute an impact on GPU pricing and inventory shortages any time soon.

Correct. No other protocol will be as profitable. They can all try to get on NiceHash but they won't like the results.

 

[jpiniero]

Don't see it. Bad economy to both stifle wage growth and slow inflation both benefit the ruling class of this nation. American oligarchs won't want the money printer turned on right now.

Going back to this... this is 1000% true. But the stock market is going to slump without the Money Printer. Wall Street can make money whether stocks go up or down but surely there are influential people who want stocks to go up regardless of the situation.

The Money Printer is going to be turned back on. It's just a matter of how long it will be until it happens. It could be a couple months, could be a year or two.

 

[moonbogg]

10 hours to go to The Merge. Doesn't seem like the miners are shutting down.

They think nothing will happen to mining even if the merge happens. They hope the merge is a huge troll and might not even happen, then ETH will 10x again. If it merges, they think they will just mine Ergo, Flux, Raven, etc and get rich. They won't stop as long as their electric bill is getting met by mining profits. They will first have to pay out of pocket a $3000 electric bill, then they will look to ebay to make their money off their cards. Oh, but derpsquat, that 3080 is only worth $300 now...

 

[amenx]

They think nothing will happen to mining even if the merge happens. They hope the merge is a huge troll and might not even happen, then ETH will 10x again. If it merges, they think they will just mine Ergo, Flux, Raven, etc and get rich...

I think the vast majority are aware of it but will continue to mine to the last minute. Maybe some of them are hopeful for EthereumPoW (ETHW), a proof-of-work splinter from the Ethereum Blockchain, which has plans to launch a hardfork soon after the Merge on Sept 15.

Ethereum Fork EthereumPoW Announces Post-Merge Launch Plans - Decrypt

Not a moment too soon, plans for the Ethereum proof-of-work hardfork are announced in a bid to preserve lucrative mining.

decrypt.co