The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[Mopetar]

Even if mining is completely dead it might cost quite a lot more anyhow if we just keep printing money while telling a big chunk of people they can't go back to work yet. Reducing overall production while increasing the money supply has already lead to higher than normal inflation.

 

[ozzy702]

Can't wait to for the chance to buy a future card like a RTX 5090 for $10k.

Crypto will have next to no impact on GPU prices moving forward. Ethereum will move to PoS by Q2 of 2022' and no new crypto projects use PoW. GPUs will still be expensive though unless TSMC, Global Foundaries, Samsung, and Intel massively increase their fab capacity, demand will still outstrip supply for silicon globally.

 

[Insert_Nickname]

Even if mining is completely dead it might cost quite a lot more anyhow if we just keep printing money while telling a big chunk of people they can't go back to work yet. Reducing overall production while increasing the money supply has already lead to higher than normal inflation.

See Zimbabwe dollars.

(Apologies to any Zimbabweans in advance. But you have to admit "One Hundred Trillion Dollar" bills are a more then a bit comical, and yet tragic at the same time)

 

[jpiniero]

Crypto will have next to no impact on GPU prices moving forward. Ethereum will move to PoS by Q2 of 2022' and no new crypto projects use PoW. GPUs will still be expensive though unless TSMC, Global Foundaries, Samsung, and Intel massively increase their fab capacity, demand will still outstrip supply for silicon globally.

Don't count on it, and don't count on it. If Ethereum crashes you would see a flood of GPUs on eBay and it would kill demand for new cards, esp AMD given nVidia marketing tricks. I doubt there's that much gaming demand for how many cards they are pushing out - it's fueled by mining.

 

[ozzy702]

Don't count on it, and don't count on it. If Ethereum crashes you would see a flood of GPUs on eBay and it would kill demand for new cards, esp AMD given nVidia marketing tricks. I doubt there's that much gaming demand for how many cards they are pushing out - it's fueled by mining.

Every mining gimped LHR NVIDIA card sells immediately, you're out of touch if you don't think there's massive demand from gamers. Yes, in 2022 after the merge to PoS I expect to see a huge dump of GPUs like we've never seen before. Most GPUs currently mining will be sold. NVIDIA and AMD won't be able to raise prices but they aren't going to drop prices.

By 2023 gamers won't have miners to blame for high prices and guess what, prices will still be high albeit hopefully with better availability than today assuming expanded fab capacity.

 

[jpiniero]

Every mining gimped LHR NVIDIA card sells immediately

That's because at current prices it's still extremely profitable esp in low power cost areas. The LHR wasn't to impede mining. It was to push CMP.

Plus it's been mostly hacked.

 

[ozzy702]

That's because at current prices it's still extremely profitable esp in low power cost areas. The LHR wasn't to impede mining. It was to push CMP.

Plus it's been mostly hacked.

I wouldn't consider an over 200 day break even just for the GPU "extremely profitable", especially with only 240 days or less of mining left. In under eight months GPU mining is dead to never return.

 

[jpiniero]

I wouldn't consider an over 200 day break even just for the GPU "extremely profitable", especially with only 240 days or less of mining left. In under eight months GPU mining is dead to never return.

I wouldn't be so confident...

 

[aigomorla]

I wouldn't be so confident...

as much as i want to disagree i have to +1 this....
If you think we are magically going to go back to normal prices... *insert nelson laugh here*
Once vendors taste the profits, until it starts eatting into sales, which i think they will limit production before lower prices.... we are never going back to 2019 prices.

 

[DeathReborn]

Chinese court returns over 485,000 Radeon GPUs to cloud mining company

Following their ongoing lawsuit against Chinese hosting provider Chuangshiji Technology Limited, China's Supreme Court has sided with Genesis Mining and ordered the return of more than 485,000...

www.techspot.com

Half a million Radeon RX 470 8GB cards... and that's just 1 mining outfit.

 

[ozzy702]

as much as i want to disagree i have to +1 this....
If you think we are magically going to go back to normal prices... *insert nelson laugh here*
Once vendors taste the profits, until it starts eatting into sales, which i think they will limit production before lower prices.... we are never going back to 2019 prices.

That's what I've been saying. They aren't going to lower their prices, even in 2022' when miners flood the market with used GPUs. NVIDIA didn't drop prices in 2019 with the 2,000 series, they bumped them, mining was all but dead and a minor factor since 2,000 series mined poorly.

People can blame miners all they want but even once mining isn't a factor, GPU manufactures will keep prices high because they can and because gamers by and large will pay them.

Maybe in a few years Intel will enter the game and there will be some competition, we'll see.

 

[DrMrLordX]

People can blame miners all they want but even once mining isn't a factor, GPU manufactures will keep prices high because they can and because gamers by and large will pay them.

Miners are "the other guy". It's easy to blame them. Without that scapegoat, what can you do? Blame yourself? Perish the thought.

 

[GodisanAtheist]

Well... god damn it.

This thread wins the "Most Premature Thread Title of All Time"

GPU Market Pricing Back in Uptrend, Shattering Expectations of Price Normalization

According to the latest market pricing analysis conducted by 3DCenter, the falling GPU prices we reported two months ago are now in the midst of a reversal. The latest figures show an increase in average pricing for both AMD's RX 6000 series and NVIDIA's RTX 30-series graphics cards. The hike...

www.techpowerup.com

 

[aigomorla]

I seriously gave up on the notion that were going to get anymore cheap cards.
I am just hitting the newegg raffle and if i get lucky i get lucky, if not, then oh wellz, im trying to secure a spare anyhow.

I honestly have no faith in the market ever getting better until vendors start bringing out really really complex antibot in checkout.
Maybe something that records how much time is taken from add to cart, to actual checkout, but honestly i do not think the vendors care because a bot buying a card and a gamer buying the card is the same thing to them in terms of profit.

I am not angry at the small scale miners either.
I am pissed at the ones that feel they do not have enough GPU's even tho they number over 100.
I am also pissed at the fact they can not leave the 3070 or 3080 alone.

It seems in the long run now, your best shot at getting any gpu is trying to secure a flagship which means a 2000 dollar gpu, as i always see a few of them in stock, and scalpers do not overcharge that much on them compared to a 3060/3070/3080.
But i do find it both sad and funny that the price on a 3080ti has inflated so much that it makes my 3090 quite a bargain along with my brothers 6900XT a steal of a value at the price i got them for.

 

[Mopetar]

I think the market will improve, but it's not going to happen over a matter of months like most people believe. It may be years before we get back to normal, or at least what we want to consider normal.

Even if there's a big crypto crash and the market gets flooded with cheap GPUs for a time, that itself is going to create its own set of waves that have influences down the line.

 

[ozzy702]

I think the market will improve, but it's not going to happen over a matter of months like most people believe. It may be years before we get back to normal, or at least what we want to consider normal.

Even if there's a big crypto crash and the market gets flooded with cheap GPUs for a time, that itself is going to create its own set of waves that have influences down the line.

Yep. I think "normal" (new GPU pricing and availability), if it ever happens, is likely 2023+. Fabs are tapped out, demand is high, and that's not going to change overnight.

 

[blckgrffn]

I think the market will improve, but it's not going to happen over a matter of months like most people believe. It may be years before we get back to normal, or at least what we want to consider normal.

Even if there's a big crypto crash and the market gets flooded with cheap GPUs for a time, that itself is going to create its own set of waves that have influences down the line.

Honestly I think this why nvidia is holding the line at 8GB on their non-flagship cards. Even if they get "crushed" by 307/60 cards from miners, they'll drop the 4060ti 16GB and of course we'll treat the 8GB cards like 4GB cards now

That said, I just won a NewEgg lottery and against my better judgement bought a 3060Ti for ~$600 (with an obligatory overpriced OLOY ram kit). What to do now...

 

[BFG10K]

Coinbase erroneously reported 2FA changes to 125,000 customers

The unexpected 2FA notifications led some customers to panic-sell everything.

arstechnica.com

Most large financial institutions carry cyber fraud insurance policies, and will cover hacked checkings or savings accounts. "If you are victimized through cybertheft by no fault of your own, most large banks will make you whole," Bankrate.com CFA Greg McBride told USA Today.

The same is not true of Coinbase, which recently told one hacked customer that "there is no credible or supportable evidence that the compromise of your login credentials was the fault of Coinbase. As a result, Coinbase is unable to reimburse you for your alleged losses."

Trusting banks is bad, yo. Better to trust random people on the internet, like Coinbase!

I still remember people in this forum telling us a bank hack is no different to getting your wallet mugged on the street...

 

[Mopetar]

That said, I just won a NewEgg lottery and against my better judgement bought a 3060Ti for ~$600 (with an obligatory overpriced OLOY ram kit). What to do now...

If you're really having buyer's remorse you could always resell it. They were going for $800+ on eBay the last time I looked.

Repeat the process two more times and you've essentially got a free 3060 Ti when you purchase the fourth card.

Or you could just keep it and not have to worry if things get even worse before they get better. I saw another post the other day where someone got $700 for their old 1080 Ti. So even though $600 might feel like bad value per dollar, that's just comparing it to an imaginary number that no one can buy a card at because no one will sell for that price.

 

[blckgrffn]

If you're really having buyer's remorse you could always resell it. They were going for $800+ on eBay the last time I looked.

Repeat the process two more times and you've essentially got a free 3060 Ti when you purchase the fourth card.

Or you could just keep it and not have to worry if things get even worse before they get better. I saw another post the other day where someone got $700 for their old 1080 Ti. So even though $600 might feel like bad value per dollar, that's just comparing it to an imaginary number that no one can buy a card at because no one will sell for that price.

Thanks for the moral support! I was torn but yes, I agree with you. Aquire now, figure it out once it’s in hand. MSI has a decent warranty for transferring (last I had read) so at least there is that.

2080S performance for less than what 2080S are bringing and it’s brand new 🤷‍♂️

 

[aigomorla]

lol surveys show males hold way more crypto then females..

Cryptocurrency investing has a big gender problem

Cryptocurrencies like bitcoin are well-positioned to avoid discriminatory pitfalls of the traditional investing world, but they are deep into a big one already.

www.cnbc.com

Twice as many men as women invest in cryptocurrency, according to CNBC and Acorn’s Invest in You: Next Gen Investor survey, conducted in partnership with Momentive.

However it balances out when you look at race... so its an ideal utopian model...

although id take it with a grain of salt, as asians are completely ignored in that model.

 

[ozzy702]

Men are statistically vastly more prone to risk taking than women. It makes perfect sense for men to be heavier involved/invested in high risk investments like crypto than women who are drawn to safer investment vehicles.

 

[ElFenix]

so what's with ethereum rocketing up the last couple days?

 

[ozzy702]

so what's with ethereum rocketing up the last couple days?

Limited supply on exchanges, reduced miner compensation via EIP-1559 fee burning is a small factor, high demand for ETH for NFTs, DeFi seems pretty stagnant at the moment. Arbitrum successfully launching is probably a catalyst as well.

 

[BFG10K]

Looks like cryptominers.bh has no trouble getting graphics cards.

https://twitter.com/x/status/1433035948531593217