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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

#101

Post by jwhitlark »

ams6110 wrote: post #68
Mtinie wrote: post #59

Earlier quoted context omitted.

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.

Not really uncommon if you're renting in a house that's been split up to several rental units. I've mostly seen it with water, but gas and electric service can be done that way too.

Yea, it's usually when things weren't set up properly to be a rental. It's painful for the landlord because then people don't pay attention to usage, and they're assuming extra liability for someone who might run up the bill and then skip.

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

#102

Post by [deleted] »

coolguy4 wrote: post #55
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…

[deleted]

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

#103

Post by jameskegel »

solidsnack9000 wrote: post #76
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.

Imagine the worth of ETH and USD denominated in ISK. ETH in ISK = 16524.55 USD in ISK = 103.42 ETH / USD (1 * ETH) / (1 * USD) # Multiplicative identity 16524.55 ISK / 103.42 ISK # Expand to ISK 16524.55 / 103.42 # Cancellation of units 159.78 # Division

...is this an Eve Online reference? If so, although unexpected, I appreciate it.

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

#104

Post by twblalock »

Mtinie wrote: post #59
twblalock wrote: post #46

Earlier quoted context omitted.

> 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.

One of my college apartments in California was like that. But I've never seen it anywhere else. On the other hand, I've never had to pay my own water bill in an apartment -- only power and gas.

Besides, there's no way it's really free -- it's accounted for in the monthly rent. If you use less power than average, you are probably better off paying for it yourself.

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

#105

Post by jameskegel »

j_s wrote: post #73

In case anyone is not aware, there are user-friendly tools (that take their cut) which ensure maximum mining profitability for available hardware. NiceHash, MinerGate, Awesome Miner and others - many have an affiliate program and fight against botnets (and antivirus often block the actual mining programs they download).

Minergate is not generally advisable. [1] [2]

[1] - https://bitcointalk.org/index.php?topic=740112.0

[2] - https://forum.getmonero.org/3/merchants-and-marketplace/2516...

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

#106

Post by Leilani99 »

jameskegel wrote: post #100
beedogs wrote: post #44

Earlier quoted context omitted.

Or just, you know, buy ETH with money right now.

That would have got you in trouble a week ago.

$85 an hour! Seriously I don't know why more people haven't tried this, I work two shifts, 2 hours in the day and 2 in the evening…And whats awesome is Im working from home so I get more time with my kids. Heres where I went, --->>http://www.joinmate2.com

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

#107

Post by pmorici »

Mtinie wrote: post #59
twblalock wrote: post #46

Earlier quoted context omitted.

> 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.

it's common in college dorms. It is also usually against the law for a landlord to charge for electricity unless each unit has an individual meter. So if they are subdividing a house into multiple units it may not be economical to install per unit meters. In cases like that electricity is included.

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

#108

Post by [deleted] »

hueving wrote: post #96
LeifCarrotson wrote: post #75

Earlier quoted context omitted.

Is the energy expended in crypto currency mining less valuable than that expended by the traditional financial sector?

Of course it's much less valuable. The crypto currencies are intentionally difficult to mine, wasting vast amounts of energy. A small mining company could probably process all of Visa's transactions which outnumber transactions on bitcoin by at least an order of magnitude.

[deleted]

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

#109

Post by Fej »

mrb wrote: post #95
nodesocket wrote: post #86

Earlier quoted context omitted.

With general stocks though at least you're investing in companies which make products, hire people, and hopefully stimulate the overall economy. A few Chinese guys in an old apartment building wasting power and compute/GPU resources... Not so much.

You are wrong. The cryptocurrency industry is also made of real companies hiring real people. For example as of Sep 2015 there were 729 Bitcoin companies employing thousands of people: https://venturescannerinsights.wordpress.com/2015/09/04/the-...

You can't seriously be comparing those the entire rest of the world economy.

Cryptocurrency doesn't even register as a drop in the metaphorical bucket.

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

#110

Post by strictnein »

I sold my hardware last week. GTX 1060s, a 1080, an AMD R9 290X, some other stuff.

Unless I'm missing something, there's no huge flood of video cards on ebay. There's maybe ~20% more than there was a week ago. All told, for the in demand mining hardware, you're only talking about a couple thousand cards.

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