Bump.
Look how stupid this thread looks in hindsight.
Crypto is full of suprises
Topic: Ethereum Miners Are Selling Their Graphics Cards (Read 3509 times)
Read the title of the thread and though wow better sell my cards!!!!
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
I would sell all my 1070's to you except I did at 450 when I paid 369. And they are now selling at
479 and 600 on ebay.
http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-VR-Ready-ITX-Graphics-Card-/162597855122?
http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-ITX-Graphics-Card-/292186270712?
So even though I turned 80 profit on each card plus 100 mining. I could have held them for 3 more weeks of mining and then sold them.
Still I can not knock turning 369 into 549 on each card I sold.
The people that opened thread may become correct one day but not yet.
The thread is 6 days old. maybe in the winter it will be true. Lets say Jan 27 , 2018 when I turn 61
They are not "Selling at 479 and 600 on ebay." They are trying to be sold at those prices but are NOT actually selling. There is a big difference. Go look at sold listings instead.
I agree that now is the time to sell your cards if you can as you can probably buy them back in a month or two for less (kinda like shorting your GPUs), but I would caution on the avenue you choose to use.
If using Ebay, keep in mind they have a very forgiving policy that allow buyers to make some bogus "not as described" claim even weeks after the fact and get a full refund.
So imagine this scenario, you are an Ebay buyer of not so strong morals and buy up a few of these overpriced used cards. In a few weeks when the true panic selling starts, and they can buy a brand new card at their local store for less than they did your used card, what do you think is going to be happening in mass. Most of these buyers are using new throwaway accounts as well, so they could give a rip about any repercussions, which rarely happen anyway. I can tell you they are not just going to be stuck with that used junker when they can go buy a brand new shiny for less.
If using Ebay, keep in mind they have a very forgiving policy that allow buyers to make some bogus "not as described" claim even weeks after the fact and get a full refund.
So imagine this scenario, you are an Ebay buyer of not so strong morals and buy up a few of these overpriced used cards. In a few weeks when the true panic selling starts, and they can buy a brand new card at their local store for less than they did your used card, what do you think is going to be happening in mass. Most of these buyers are using new throwaway accounts as well, so they could give a rip about any repercussions, which rarely happen anyway. I can tell you they are not just going to be stuck with that used junker when they can go buy a brand new shiny for less.
If you are still profitable, it is better not to sell, if the fee involved is 20% or more.
I agree that now is the time to sell your cards if you can as you can probably buy them back in a month or two for less (kinda like shorting your GPUs), but I would caution on the avenue you choose to use.
If using Ebay, keep in mind they have a very forgiving policy that allow buyers to make some bogus "not as described" claim even weeks after the fact and get a full refund.
So imagine this scenario, you are an Ebay buyer of not so strong morals and buy up a few of these overpriced used cards. In a few weeks when the true panic selling starts, and they can buy a brand new card at their local store for less than they did your used card, what do you think is going to be happening in mass. Most of these buyers are using new throwaway accounts as well, so they could give a rip about any repercussions, which rarely happen anyway. I can tell you they are not just going to be stuck with that used junker when they can go buy a brand new shiny for less.
If using Ebay, keep in mind they have a very forgiving policy that allow buyers to make some bogus "not as described" claim even weeks after the fact and get a full refund.
So imagine this scenario, you are an Ebay buyer of not so strong morals and buy up a few of these overpriced used cards. In a few weeks when the true panic selling starts, and they can buy a brand new card at their local store for less than they did your used card, what do you think is going to be happening in mass. Most of these buyers are using new throwaway accounts as well, so they could give a rip about any repercussions, which rarely happen anyway. I can tell you they are not just going to be stuck with that used junker when they can go buy a brand new shiny for less.
Read the title of the thread and though wow better sell my cards!!!!
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
I would sell all my 1070's to you except I did at 450 when I paid 369. And they are now selling at
479 and 600 on ebay.
http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-VR-Ready-ITX-Graphics-Card-/162597855122?
http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-ITX-Graphics-Card-/292186270712?
So even though I turned 80 profit on each card plus 100 mining. I could have held them for 3 more weeks of mining and then sold them.
Still I can not knock turning 369 into 549 on each card I sold.
The people that opened thread may become correct one day but not yet.
The thread is 6 days old. maybe in the winter it will be true. Lets say Jan 27 , 2018 when I turn 61
Well I agree with you about selling at the right time. Although now is a great time to sell. I think the days of shortages are over so prices should start coming down on the open market. I'm finding it easy to buy anything new and there even some pretty good sales.
Read the title of the thread and though wow better sell my cards!!!!
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
I would sell all my 1070's to you except I did at 450 when I paid 369. And they are now selling at
479 and 600 on ebay.
http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-VR-Ready-ITX-Graphics-Card-/162597855122?
http://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-DirectX-12-ITX-Graphics-Card-/292186270712?
So even though I turned 80 profit on each card plus 100 mining. I could have held them for 3 more weeks of mining and then sold them.
Still I can not knock turning 369 into 549 on each card I sold.
The people that opened thread may become correct one day but not yet.
The thread is 6 days old. maybe in the winter it will be true. Lets say Jan 27 , 2018 when I turn 61
Read the title of the thread and though wow better sell my cards!!!!
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
Checked coinmarketcap... saw Ethereum over $200, Zcash at $178, Sia doing well, Decred almost at $30. Read the article and laughed - who in their right mind would unload their cards now?
You guys are right the party is over. Please sell me your cheap gpus now. Please sell the gtx 1070 if possible.
Yep i'm one of them.
I started mining at the end of may as an experiment before it went all crazy with 3x rx470 4GB for 589€. Mined until last week (made 800€) sold my cards for 750€ (the 161€ of profit pay for the electrecity and some).
i'm done regarding mining, it was a nice experiment at the best time (i was lucky). i have now a small number BTC to play with on the market (new experiment) at 0 and risk for me.
I started mining at the end of may as an experiment before it went all crazy with 3x rx470 4GB for 589€. Mined until last week (made 800€) sold my cards for 750€ (the 161€ of profit pay for the electrecity and some).
i'm done regarding mining, it was a nice experiment at the best time (i was lucky). i have now a small number BTC to play with on the market (new experiment) at 0 and risk for me.
I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future
That would be mining mistake #1.
Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining. If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.
There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.
Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).
Nah, not so good advice, long time in mining and learn from expiriance.
If you sell cards you will lost chance to grab fresh new coins who can emerge every day. Almost all coins first show on mining and later on markets.
If you have lots of cards you can get lots of coins when diff is very low. And chance to lost is minimal, and if you wait for some time you can earn a lot.
But you cant buy every new coin, its much easier to mine them. And even if daily profit now look very low its not if you are living in country with cheap
electricity
They're not selling for low enough... not yet. As profitability continues to drop, they should panic and start dumping at any price. I can't wait!
this. I can't agree more, difficulty will continue rising and profitability will continue to slip then people who bought on credit cards or took out loans will shit themselves then start to dump GPUs to clear the initial principle.
I cannot wait until people start to dump, I have been itching to buy more GPU for ages but have to keep stopping myself at these prices and knowing(believing) what will come.
I sold my graphics cards. Then I patiently bought new ones retail for about what I sold the old mining gear for. It's presented a good opportunity to change out GPUs. Right now selling 470/570/480/580 and buying 1070s with the proceeds seems like a good investment if you can sell the AMD for close to what the 1070s cost new. The 1070s will keep their hashrate for Eth longer and should have way better resale value.
Im doing the same thing on which i do sell off my rigs not mean on quitting on mining but to have plans on renewing or buying another rigs which is more powerful on my older ones and do really give me a good resale value after all. I do this for quiet time as of now which i can say it actually works as long you do know on what you are doing. I dont totally believe on those fuds specially when i saw large numbers of people do sell of their mining gpus.
I sold my graphics cards. Then I patiently bought new ones retail for about what I sold the old mining gear for. It's presented a good opportunity to change out GPUs. Right now selling 470/570/480/580 and buying 1070s with the proceeds seems like a good investment if you can sell the AMD for close to what the 1070s cost new. The 1070s will keep their hashrate for Eth longer and should have way better resale value.
I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future
That would be mining mistake #1.
Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining. If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.
There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.
Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).
and when a new shitcoin comes up you can fastmine it for 2days haha 
I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future
That would be mining mistake #1.
Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining. If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.
There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.
Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).
I know, I know, I know, you don't have to explain to me =)
But there are a lot of people who like mining
And there is some people who prefer to generate the coins mining, because if something goes wrong, at least they have a gpu
I don't think that, most of the people this time will look the past and try to mine even with a little loss trying to keep the coins to sell in future
That would be mining mistake #1.
Anytime you are paying more in electricity than you make in fiat it makes sense to quit mining. If you really think the coin will go up in fiat price just buy it on an exchange. Why mine 1.5 poop coins for $5 electricity a day when you can buy 1.6 poop coins for $5 electricity - well unless you need the heat.
There is an argument for supporting your coin through decentralization but I would suspect that 90% of miners these days don't care about their coin's future, they live for the present.
Also consider the lost opportunity cost to selling cards at the peak prices and putting that money into buying the coins directly (especially with some markets down over 70% from last month).
Never believe what those two salty imbeciles say. Probaby siamese twins living in their mums damp basement rubbing each other off lol
Not really. I can't wait though if the gtx 1070 starts selling for anything less than $200, I'm going to start buying a bunch.
Try early spring of 2018 for that price.
They simply bury the rx580 at zec.
And. Take a look at zec market cap.
Well under 1 billion or translation easy to pump it.
Yeah you're right on that. I have some gtx 1070 rigs and I like that they are flexible. I can mine eth or zec and, and yes I really like ZEC since miners are doing that one.
This is total BS. I have watches set up on nowinstock.com for AMD cards. When one comes in stock they are literally sold out within 30 seconds. So I don't know if too many ETH miners are selling off their cards but someone sure is hell is buying the new stock. And given the prices on EBay people still seem to be paying premiums.
There was just a story Friday about flying in new cards on cargo 747s rather than waiting to ship them by sea. Miners paid for that.
There was just a story Friday about flying in new cards on cargo 747s rather than waiting to ship them by sea. Miners paid for that.
No, mining COMPANIES were flying in new GPUs - and mining companies have a far higher profit margin than the idiot opportunists that have been flooding in.
Yeah rumor has it it was genesis mining, the article is totally misleading , on top of that those GPU's were probably purchased at retail or lower
This is total BS. I have watches set up on nowinstock.com for AMD cards. When one comes in stock they are literally sold out within 30 seconds. So I don't know if too many ETH miners are selling off their cards but someone sure is hell is buying the new stock. And given the prices on EBay people still seem to be paying premiums.
There was just a story Friday about flying in new cards on cargo 747s rather than waiting to ship them by sea. Miners paid for that.
There was just a story Friday about flying in new cards on cargo 747s rather than waiting to ship them by sea. Miners paid for that.
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