@Shivansps
Also, you are talking from the perspective of a mom and pop miner, but the professional mining farms are probably going to matter way more when it comes to 2nd hand cards hitting the ebays of the world. I doubt that the professionals will want to chase those insignificant coins.
Isn't it cheaper/less costly to not mine than mine at a loss?Professional mining farms have a considerable amount of investment on infraestructure that they dont want it to sit idle and are the ones that can afford to mine at a loss for the longest time because they are already sitting on a big pile of cash.
Its the small miners who are, mostly, at risk, specially if they cant afford to pay the electricity bill whiout having to sell crypto.
Professional mining farms have a considerable amount of investment on infraestructure that they dont want it to sit idle and are the ones that can afford to mine at a loss for the longest time because they are already sitting on a big pile of cash.
Still not seeing prices cratering, but as I said before I don't expect that to happen until 1-2 months after PoW has ended. It's going to take time for the holdouts to realize ...
Not even that. All those big farms that have been mining up to the merge in China and the like can't just sell those cards to consumers tomorrow. The bios needs to be flashed, the rigs needs to be taken apart and the cards packaged. Then they need to find a wholesaler, organize the shipping and actually ship the things to the US/EU. Then the wholesaler needs to either create ebay listings or find another intermediary to sell to, who then sells to consumers.
Even if they start right away, it will easily takes weeks for those cards to show up on the second hand consumer market.
It can be done pretty quickly. You are forgetting that the Chinese have no issue getting their kids to workEven if they start right away, it will easily takes weeks for those cards to show up on the second hand consumer market.
It can be done pretty quickly. You are forgetting that the Chinese have no issue getting their kids to work
Yup!I tell everyone that will listen to simply assume every single card you see being sold used as been mined to hell and back before you put down your simoleons.
Maybe its like a run on the bank. Closed until further notice to prevent financial collapse.interesting, my Eth transaction has yet to go through. Taking a bit longer then normal.
It has been about 2 hours.
Is it wrong to hope Eth broke?
-chuckles-Maybe its like a run on the bank. Closed until further notice to prevent financial collapse.
Yeah but miners are moving to other coins now. As i said a few months back, overall this changes nothing, its going to be a carnage of hashrates and difficulty swings on the other coins while miners change from one crypto to the other, for a while, then things will settle down, the next "go to" coin to be mined will be know and it will be bussiness as usual.
The key here is pre-mining before that happens, this is why miners will be mining even at a loss until the dust settles down. For example ive been mining RVN with a half dead RX 570 4GB gpu for a year, the amount of coins that GPU made is way more than what i could make now even if i tried.
Not even that. All those big farms that have been mining up to the merge in China
Isn't it cheaper/less costly to not mine than mine at a loss?
That's not how it works. A company doesn't use equipment just to make sure that it doesn't remain idle*, but to make money. If doing a thing costs them money, then why do it?
The last two years have taught us that plenty of gamers will pay truly stupid prices for a new GPU. My guess is that Nvidia is about to test that market. If they don't sell they can always lower their prices to reasonable amounts around Black Friday.Without mining, is there really a big market for $1500+ GPUs?
My guess is that right now those giant warehouses of GPU's are being converted to mine a dozen different coins in the hope that one or more of them shoots up in value and the nearly worthless coins they mined today will be worth billions tomorrow.