eBay update: prices coming way down - page 2.

AngelusWebDesign

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Quote from: SgtSpike on July 11, 2011, 12:49:40 PM

Quote from: hehu on July 11, 2011, 12:47:19 PM

I don't really get the point of this thread. Anyone with half a brain can grasp the concept of supply and demand. Of course they're going down, everyone

who's mining for profit have stopped buying the cards at their current prices.

A lot of people aren't in it entirely for money so I wouldn't be all that surprised if the prices stay where they are for a while longer.

I don't really get the point of this thread either. Pretty pointless, just like many other threads created by this particular member. Roll Eyes

Grow up, please.

SgtSpike

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Quote from: hehu on July 11, 2011, 12:47:19 PM

I don't really get the point of this thread. Anyone with half a brain can grasp the concept of supply and demand. Of course they're going down, everyone

who's mining for profit have stopped buying the cards at their current prices.

A lot of people aren't in it entirely for money so I wouldn't be all that surprised if the prices stay where they are for a while longer.

I don't really get the point of this thread either. Pretty pointless, just like many other threads created by this particular member. Roll Eyes

hehu

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I don't really get the point of this thread. Anyone with half a brain can grasp the concept of supply and demand. Of course they're going down, everyone

who's mining for profit have stopped buying the cards at their current prices.

A lot of people aren't in it entirely for money so I wouldn't be all that surprised if the prices stay where they are for a while longer.

SgtSpike

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Prices are definitely dropping (5870's are getting close to $200 now), but that is to be expected when profitability is cut by 90%.

bitebitebite

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I would advise buying BTC with the money

DrHaribo

legendary

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Needs more jiggawatts

Availability and prices for 5970 not looking that good on ebay, though.

I bought a cheap refurbished 5970 today. Yay! Wink

Mousepotato

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Quote from: AngelusWebDesign on July 11, 2011, 12:06:39 PM

Just for the sake of discussion, so is that what it comes down to then?

That the people building entire rigs today should be considered the Bitcoin "faithful"? I'm not being sarcastic, I'm serious.

When has mining NOT been for the Bitcoin faithful? 1+ years ago people were mining when mining represented a net LOSS in revenue due to running costs. They'd spend a few hundred on hardware and electricity and come away with a few thousand BTC worth maybe $50, IF that. If you could travel back in time, would you still give them the same advice you are now?

AngelusWebDesign

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First, I'd like to point out that I've been into distributed computing since 2007. Nevertheless, I didn't find out about Bitcoin until May 2011. Go figure!

Just for the sake of discussion, so is that what it comes down to then?

That the people building entire rigs today should be considered the Bitcoin "faithful"? I'm not being sarcastic, I'm serious.

Personally I have rigs, but I'm not expanding. I'm treating it like a business. Not a get-rich-quick business, but a business. I mine because I enjoy it and have the talent for it, so it's not JUST a way to make money -- there are countless ways I could spend my time which would be more profitable.

On the other hand, I have no reason to believe that Bitcoin will be more valuable next month, this Fall, or next year. I have no scientific reason to believe that. For business purposes, I'm planning on "more of the same" -- which is 10% difficulty increases every 10-12 days, and a Bitcoin price around $15.

And when I see payoff periods greater than 70 days, I run the other way.

Matthew

Mousepotato

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Quote from: AngelusWebDesign on July 11, 2011, 11:43:42 AM

Seems the current going rate on eBay for a brand new 5830 is around $125 - $140, including shipping.

I'm looking at completed listings -- which is very important -- rather than what a few greedy sellers hope against hope to get. People can ask for $1000 all they want, but if they never get that price, the going rate isn't $1,000. Right?

I guess that explains why NewEgg still has 5830's in stock for $135 shipped. You simply can't make money at that price -- not by mining, not by reselling.

And let's not forget that even if you got $140, you have to take out eBay and Paypal fees.

"I don't understand why people spend $500+ on a mining rig. It's going to take you 20+ years to pay that off, if ever. You simply can not make your money back." -- some random nay sayer circa June 2010.

AngelusWebDesign

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Activity: 392

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Seems the current going rate on eBay for a brand new 5830 is around $125 - $140, including shipping.

I'm looking at completed listings -- which is very important -- rather than what a few greedy sellers hope against hope to get. People can ask for $1000 all they want, but if they never get that price, the going rate isn't $1,000. Right?

I guess that explains why NewEgg still has 5830's in stock for $135 shipped. You simply can't make money at that price -- not by mining, not by reselling.

And let's not forget that even if you got $140, you have to take out eBay and Paypal fees.

Topic: eBay update: prices coming way down - page 2. (Read 3644 times)