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Used GPUs flood the market as Ethereum's price drops below $150

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Re: Used GPUs flood the market as Ethereum's price drops below $150

#51

Post by lossolo »

DanBlake wrote: post #7

Just took a quick look at this. If you are located in the 'mining valley' of Washington where power is ~2c/kwh you are still getting healthy profits. A computer with 7 GTX 1070 graphics cards should produce ~230 mh/s and draw 1 kw. This would cost approximately $30/month in power factoring in kw demand + cooling. The above setup will currently generate $385/month in ETH. So basically for miners who are in the right s…

You forgot to tell people about risk of rising difficulty. It's not 385$ a month forever, if difficulty will go up (as it steady goes up every month) you will mine less.

And you can't get 230 MH/s with 7x GTX 1070 with 1kw of power draw. More like 215 MH/s and with around 1.2 kw. I know because I have mining rigs with 7x GTX 1070s.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#52

Post by [deleted] »

tasty_freeze wrote: post #24
the_end wrote: post #4

Welcome to the end. Ethereum crasheses, bringing NVDA down. Bringing the NASDAQ down. Down and down it all goes. This house of cards, these castles in the sky.

If you really believe that, then put your money into a short position and profit handsomely. But I suspect you are just talking, and don't believe what you say enough to risk a dollar.

[deleted]

Re: Used GPUs flood the market as Ethereum's price drops below $150

#53

Post by avh02 »

zanny wrote: post #37
WatchDog wrote: post #18

Earlier quoted context omitted.

Computer hardware depreciates rapidly, and is expensive to trade(shipping/testing/labour).

It depreciates to a point. An i7 2600 depreciated about half its value when the next generation came out, but 5 years later it still sells used for 40% of its MSRP. The era of older chips being downright worthless passed circa anything since ~2006. The start of that era for GPUs was much more recent because they matured much more into recent times, but I would easily say anything from the AMD 4000 series or the Nvidi…

I miss my 920, it was such a beast

Re: Used GPUs flood the market as Ethereum's price drops below $150

#54

Post by yuhong »

zanny wrote: post #42

On the bright side, this has been a great test of etheriums scalability. Which isn't great , but when this mining craze dies down I won't hesitate to run ethminer when I'm not home for a little extra dough. What I would really expect is an overreaction to the price crash, which means the difficulty rate might drop a lot . At this point, doing what a lot of people do with bitcoin - mining small amounts for a long peri…

Ethereum has a difficulty bomb which means that difficulty may not decline as much as you think.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#55

Post by coolguy4 »

schiffern wrote: post #47

Off topic, but the "ETH/USD" label on the price graph bothers me. Shouldn't it be USD/ETH? https://www.overclock3d.net/gfx/articles/2017/07/16083553143... 150 ETH/USD would mean that you can get 150 coins per 1 USD. On the other hand, 150 USD/ETH correctly captures the mathematical relationship.

150 ETH/USD is normal forex notation.

The graph shows a currency pair. So one currency is being sold in exchange for the other.

When you see currency pairs like this, ETH/USD, the first currency (ETH) is the one being bought, the second currency (USD) is the one being sold. If the chart is going up, the first currency is becoming stronger against the second. If the chart is going down, the first currency is becoming weaker against the second.

In that light it does make sense mathematically. The currency being sold is the denominator and the currency being bought is the numerator. The value of the currency being bought, the numerator is directly proportional to the exchange value of the pair. The value of the currency being sold, the denominator, is inversely proportional to the exchange value of the pair

Re: Used GPUs flood the market as Ethereum's price drops below $150

#56

Post by crazydoggers »

schiffern wrote: post #47

Off topic, but the "ETH/USD" label on the price graph bothers me. Shouldn't it be USD/ETH? https://www.overclock3d.net/gfx/articles/2017/07/16083553143... 150 ETH/USD would mean that you can get 150 coins per 1 USD. On the other hand, 150 USD/ETH correctly captures the mathematical relationship.

It comes from the currency markets. What you really care about is the relative value of the first currency. The last or bottom currency is the base currency which is what your using to gauge the value of the first relative to other pairs with the same base.

https://en.m.wikipedia.org/wiki/Currency_pair

Re: Used GPUs flood the market as Ethereum's price drops below $150

#57

Post by notsofastbuddy »

pdog wrote: post #45
zanny wrote: post #42

On the bright side, this has been a great test of etheriums scalability. Which isn't great , but when this mining craze dies down I won't hesitate to run ethminer when I'm not home for a little extra dough. What I would really expect is an overreaction to the price crash, which means the difficulty rate might drop a lot . At this point, doing what a lot of people do with bitcoin - mining small amounts for a long peri…

Proof-of-stake is coming to Ethereum later this year, so there isn't much point investing in a few more months of mining. Casper is the real reason everyone is selling their mining hardware.

This is a very optimistic timeline for PoS.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#58

Post by iak8god »

twblalock wrote: post #46
nodesocket wrote: post #40

Earlier quoted context omitted.

lol, sorry, but how long until your landlord contacted you? What was the conversation like? I'd would have said, sorry running servers for my internet business.

> I'd would have said, sorry running servers for my internet business. Why do you think that would have helped? The landlord cares about the fact that he/she is paying more money because power consumption is high, not about why power consumption is high.

The landlord will very much care if the reason you're using so much power in your residence is that you're running an energy-intensive business there. In many states this would give the landlord really solid grounds to toss you out immediately, especially compared to the situation where you're just suddenly using more power because you just like to set your AC to 60F in the summer, for instance.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#59

Post by Mtinie »

twblalock wrote: post #46
nodesocket wrote: post #40

Earlier quoted context omitted.

lol, sorry, but how long until your landlord contacted you? What was the conversation like? I'd would have said, sorry running servers for my internet business.

> I'd would have said, sorry running servers for my internet business. Why do you think that would have helped? The landlord cares about the fact that he/she is paying more money because power consumption is high, not about why power consumption is high.

Do many people live in units where electricity is provide as a gratis benefit? That was never my experience in California, Washington, D.C., nor in Virginia.

Re: Used GPUs flood the market as Ethereum's price drops below $150

#60

Post by dgacmu »

zanny wrote: post #36
kobeya wrote: post #29

Earlier quoted context omitted.

2 cents, not 20.

2 cents is an abnormality. Europeans pay around 20 cents per kwh on average.

2 cents is what you're competing against -- very large mining farms located near cheap, under-utilized hydro plants. Many in China, due to the existence of many such plants. [0] Those are the mining operations that can remain (marginally) profitable when the small home miners are forced out because gross revenue is less than power costs.

[0] http://www.afr.com/technology/lisa-kangding-story-20160706-g...

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